<SEC-DOCUMENT>0001292814-25-002515.txt : 20250627
<SEC-HEADER>0001292814-25-002515.hdr.sgml : 20250627
<ACCEPTANCE-DATETIME>20250627141739
ACCESSION NUMBER:		0001292814-25-002515
CONFORMED SUBMISSION TYPE:	20-F/A
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20241231
FILED AS OF DATE:		20250627
DATE AS OF CHANGE:		20250627

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CENTRAL PUERTO S.A.
		CENTRAL INDEX KEY:			0001717161
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				000000000
		STATE OF INCORPORATION:			C1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		20-F/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38376
		FILM NUMBER:		251085032

	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>20-F/A
<SEQUENCE>1
<FILENAME>cepuform20fa_2024.htm
<DESCRIPTION>20-F/A
<TEXT>
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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; border-top: Black 5.25pt double; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

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<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 6pt 0.5in; text-align: center; text-indent: -0.5in">Amendment
No.1 to</P>

<P STYLE="font: 18pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 6pt 0.5in; text-align: center; text-indent: -0.5in"><B>FORM 20-F/A</B></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Segoe UI Symbol,sans-serif"><B>&#9744;</B></FONT></TD><TD STYLE="text-align: left"><B>REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g)&nbsp;OF THE SECURITIES EXCHANGE ACT OF 1934</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>OR</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Segoe UI Symbol,sans-serif"><B>&#9746;</B></FONT></TD><TD STYLE="text-align: left"><B>ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</B>&nbsp;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>For the fiscal year ended December 31, 2024</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>OR</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Segoe UI Symbol,sans-serif"><B>&#9744;</B></FONT></TD><TD STYLE="text-align: left"><B>TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</B>&nbsp;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>For the transition period from __________________
to __________________.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>OR</B>&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Segoe UI Symbol,sans-serif"><B>&#9744;</B></FONT></TD><TD STYLE="text-align: left"><B>SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 &nbsp;</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Date of event requiring this shell company report
__________________.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Commission file number 001-38376</B></P>

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<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center"><B>Central Puerto S.A.</B></P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(<FONT STYLE="font-size: 8pt">Exact name of Registrant
as specified in its charter</FONT>) </B></P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Port Central S.A.</B></P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 7pt; text-align: center"><B>(<FONT STYLE="font-size: 8pt">Translation
of Registrant&rsquo;s name into English</FONT>)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>Republic of Argentina</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 7pt; text-align: center"><B>(Jurisdiction of incorporation or organization)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Avenida Thomas Edison 2701</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>C1104BAB Buenos Aires</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Republic of Argentina</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Address of principal executive offices)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Enrique Terraneo</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Avenida Thomas Edison 2701</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>C1104BAB Buenos Aires</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Republic of Argentina. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Facsimile: +54 (11) 4317-5900</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Email: </B>inversores@centralpuerto.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center"><B>(Name, Telephone, E-mail and/or Facsimile number
and Address of Company Contact Person) </B></P>


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<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 6pt/4pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: left; border-bottom: Black 1pt solid">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: left"><B>Securities registered or to be registered pursuant
to Section&nbsp;12(b) of the Act.</B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="3" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 30%; border-bottom: black 1pt solid; text-align: center; line-height: 12pt"><FONT STYLE="font-size: 10pt"><B>Title of each class</B></FONT></TD>
    <TD STYLE="width: 5%; text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 30%; border-bottom: black 1pt solid; text-align: center; line-height: 12pt"><FONT STYLE="font-size: 10pt"><B>Trading Symbol</B></FONT></TD>
    <TD STYLE="width: 5%; text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 30%; border-bottom: black 1pt solid; text-align: center; line-height: 12pt"><FONT STYLE="font-size: 10pt"><B>Name of each exchange on which registered</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 12pt"><FONT STYLE="font-size: 10pt"><B>American Depositary Shares, each representing 10 common shares of Central Puerto S.A.*</B></FONT></TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 12pt"><FONT STYLE="font-size: 10pt"><B>CEPU</B></FONT></TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 12pt"><FONT STYLE="font-size: 10pt"><B>New York Stock Exchange*</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="3" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%">
  <TR>
    <TD STYLE="width: 3%; text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD STYLE="text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt">Not for trading, but only in connection with the registration of American Depositary Shares pursuant to the requirements of the New York Stock Exchange. </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Securities registered or to be registered pursuant
to Section&nbsp;12(g) of the Act.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">None</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Securities for which there is a reporting obligation
pursuant to Section&nbsp;15(d) of the Act.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">None</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Indicate the number of outstanding shares of
each of the issuer&rsquo;s classes of capital or common stock as of the close of the period covered by the annual report.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="3" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%">
  <TR>
    <TD STYLE="vertical-align: top; width: 45%; border-bottom: black 1pt solid; text-align: center; line-height: 12pt"><FONT STYLE="font-size: 10pt"><B>Title of each class</B></FONT></TD>
    <TD STYLE="width: 10%; text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 45%; border-bottom: black 1pt solid; text-align: center; line-height: 12pt"><FONT STYLE="font-size: 10pt"><B>Outstanding at December 31, 2024</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 12pt"><FONT STYLE="font-size: 10pt"><B>Common shares, nominal value Ps.1.00 per share</B></FONT></TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 12pt"><FONT STYLE="font-size: 10pt">1,514,022,256</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Indicate by check mark if the registrant is a
well-known seasoned issuer, as defined in Rule&nbsp;405 of the Securities Act.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Yes&nbsp;<FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9746;</FONT>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No <FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If this report is an annual or transition report,
indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act
of 1934.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Yes&nbsp;<FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
<FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9746;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Note &ndash; Checking the box above will not
relieve any registrant required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 from their obligations
under those Sections. Indicate by check mark whether the registrant (1)&nbsp;has filed all reports required to be filed by Section&nbsp;13
or 15(d) of the Securities Exchange Act of 1934 during the preceding 12&nbsp;months (or for such shorter period that the registrant was
required to file such reports), and (2)&nbsp;has been subject to such filing requirements for the past 90&nbsp;days.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Yes&nbsp;<FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9746;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;<FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Indicate by check mark whether the registrant
has submitted electronically every Interactive Data File required to be submitted pursuant to Rule&nbsp;405 of Regulation&nbsp;S-T (&sect;232.405
of this chapter) during the preceding 12&nbsp;months (or for such shorter period that the registrant was required to submit such files).</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Yes&nbsp;<FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9746;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;<FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See definition of &ldquo;large
accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; and &ldquo;emerging growth company&rdquo; in Rule&nbsp;12b-2 of the Exchange
Act<B>. </B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="3" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%">
  <TR>
    <TD STYLE="width: 30%; text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt">Large accelerated filer&nbsp;<FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9746;</FONT></FONT></TD>
    <TD STYLE="width: 21%; text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt">Accelerated filer&nbsp;&nbsp; <FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT></FONT></TD>
    <TD STYLE="width: 23%; text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt">Non-accelerated filer&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT></FONT></TD>
    <TD STYLE="width: 26%; text-align: left; line-height: 12pt"><FONT STYLE="font-size: 10pt">Emerging growth company&nbsp;&nbsp;<FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT></FONT></TD></TR>
  </TABLE>

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<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If an emerging growth company that prepares its
financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition
period for complying with any new or revised financial accounting standards&dagger; provided pursuant to Section 13(a) of the Exchange
Act. <FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The term &ldquo;new or revised financial accounting
standard&rdquo; refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after
April 5, 2012.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;Indicate by check mark whether the registrant
has filed a report on and attestation to its management&rsquo;s assessment of the effectiveness of its internal control over financial
reporting under Section 404(b) of the Sarbanes-Oxley Act (&sect; 15 U.S.C. 7262(b)) by the registered public accounting firm that prepared
or issued its audit report. <FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9746;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If securities are registered pursuant to Section
12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction
of an error to previously issued financial statements. <FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Indicate by check mark whether any of those error
corrections are restatements that required a recovery analysis of incentive based compensation received by any of the registrant&rsquo;s
executive officers during the relevant recovery period pursuant to &sect;240.10D-1(b). <FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Indicate by check mark which basis of accounting
the registrant has used to prepare the financial statements included in this filing:</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="3" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; text-align: center; line-height: 12pt"><FONT STYLE="font-size: 10pt">U.S. GAAP&nbsp;&nbsp;<FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT></FONT></TD>
    <TD>
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">International Financial Reporting Standards as
    issued</P>
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">by the International Accounting Standards Board&nbsp;&nbsp;<FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9746;</FONT></P></TD>
    <TD STYLE="width: 30%; text-align: center; line-height: 12pt"><FONT STYLE="font-size: 10pt">Other&nbsp;&nbsp;<FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If &ldquo;Other&rdquo; has been checked in response
to the previous question, indicate by check mark which financial statement item the registrant has elected to follow.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Item&nbsp;17&nbsp;<FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Item&nbsp;18&nbsp;<FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If this is an annual report, indicate by check
mark whether the registrant is a shell company (as defined in Rule&nbsp;12b-2 of the Exchange Act).</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Yes&nbsp;<FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
No&nbsp;<FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9746;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
PROCEEDINGS DURING THE PAST FIVE YEARS)</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Indicate by check mark whether the registrant
has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent
to the distribution of securities under a plan confirmed by a court.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Yes&nbsp;<FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
No&nbsp;<FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>



<P STYLE="font: 10.5pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify; text-indent: 346.5pt">&nbsp;</P>


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  <TR>
    <TD>
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center"><B>EXPLANATORY NOTE</B></P>
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10.5pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify"><FONT STYLE="font-size: 10pt">The Company
    is filing this Amendment No. 1 to its annual report on Form 20-F for the fiscal year ended December 31, 2024, as filed with the U.S. Securities
    and Exchange Commission (the &ldquo;SEC&rdquo;) on April 25, 2025 (the &ldquo;2024 Form 20-F&rdquo;), solely to supplement Item 18. Financial
    Statements and Item 19. Exhibits of the 2024 Form 20-F to provide separate consolidated financial statements of Ecogas Inversiones S.A.
    (including the Report of Independent Auditors with respect to such consolidated financial statements) as of
    D</FONT>ecember 31, 2024 (audited) and 2023 (unaudited) <FONT STYLE="font-size: 10pt">and for e</FONT>ach of <FONT STYLE="font-size: 10pt">the
    years ended December 31, 2024 (audited), 2023 (unaudited) and 2022 (unaudited) as required under Rule 3-09 of Regulation S-X. Ecogas Inversiones
    S.A.&rsquo;s financial statements were prepared and provided to the Company by Ecogas S.A. The remainder of the consolidated financial
    statements contained in the 2024 Form 20-F remain unchanged.</FONT></P>
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">As required by Rule 12b-15 under the Securities
    Exchange Act of 1934, as amended, updated certifications of our principal executive officer and our principal financial officer are being
    filed as exhibits to this Form 20-F/A.</P>
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Other than as expressly set forth above,
    this Form 20-F/A does not, and does not purport to, amend, update or restate the information in any part of the 2024 Form 20-F or reflect
    any events that have occurred after the 2024 Form 20-F was filed on April 25, 2025. The filing of this Form 20-F/A, and the inclusion
    of newly executed certifications and exhibits, should not be understood to mean that any other statements contained in the 2024 Form 20-F
    are true and complete as of any date subsequent to April 25, 2025. This amendment does not otherwise update the disclosures, including
    forward-looking information, set forth in the 2024 Form 20-F, as originally filed, and does not otherwise reflect events occurring after
    the original filing of the 2024 Form 20-F on April 25, 2025.</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10.5pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>TABLE OF CONTENTS</B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10.5pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="width: 90%; text-align: left; text-indent: -28.35pt; padding-top: 0in; padding-bottom: 2pt; padding-left: 28.35pt"><A HREF="#a_001">Item 18. Financial Statements</A></TD>
    <TD STYLE="width: 10%; text-align: right; padding-top: 0in; padding-bottom: 2pt"><A HREF="#a_001">6</A></TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10.5pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="text-align: left; text-indent: -28.35pt; padding-top: 0in; padding-bottom: 2pt; padding-left: 28.35pt"><A HREF="#a_002">Item 19. Exhibits</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 2pt"><A HREF="#a_002">6</A></TD></TR>
</TABLE>
<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10.5pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: left"><A NAME="a_001"></A>Item 18. Financial Statements</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our audited consolidated financial statements
(including the Report of Independent Auditors with respect to such consolidated financial statements) as of
December 31, 2024 and 2023 and for each of the years ended December 31, 2024, 2023 and 2022 were included in pages F-1 to F-80 of the
2024 Form 20-F.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The consolidated financial statements of Ecogas
Inversiones S.A. (including the Report of Independent Auditors with respect to such consolidated financial
statements) as of December 31, 2024 (audited) and 2023 (unaudited) and for each of the years ended December 31, 2024 (audited), 2023 (unaudited)
and 2022 (unaudited) are included in pages F-1 to F-53 of this Form 20-F/A.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: left"><A NAME="a_002"></A>Item 19. Exhibits</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="3" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 9%; border-bottom: black 1pt solid; text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt"><B>Exhibit Number</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt"><B>Description</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="3" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt; width: 10%"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000165495424005154/cepu_ex11.htm"><FONT STYLE="font-size: 10pt">1.1.</FONT></A></TD>
    <TD STYLE="text-align: justify; line-height: 12pt; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000165495424005154/cepu_ex11.htm"><FONT STYLE="font-size: 10pt">English translation of bylaws of Central Puerto S.A. (incorporated by reference to Exhibit 1.1 of our annual report on Form 20-F (File No. 001-38376), filed with the Commission on April 29, 2024).</FONT></A></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000165495424005154/cepu_ex21.htm"><FONT STYLE="font-size: 10pt">2.1.</FONT></A></TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000165495424005154/cepu_ex21.htm"><FONT STYLE="font-size: 10pt">Amended and Restated Deposit Agreement among Central Puerto S.A., JPMorgan Chase Bank, N.A., as depositary and holders and beneficial owners of American Depositary Receipts (incorporated by reference to Exhibit 2.1 of our annual report on Form 20-F (File No. 001-38376), filed with the Commission on April 29, 2024).</FONT></A></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000165495420004595/cepu_ex2d.htm"><FONT STYLE="font-size: 10pt">2.(d).</FONT></A></TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000165495420004595/cepu_ex2d.htm"><FONT STYLE="font-size: 10pt">Description of rights of the securities registered under Section 12 of the Securities Exchange Act of 1934.</FONT></A></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000119312518006716/d464194dex103.htm"><FONT STYLE="font-size: 10pt">4.3.</FONT></A></TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000119312518006716/d464194dex103.htm"><FONT STYLE="font-size: 10pt">Common Terms Agreement (the &ldquo;Common Terms Agreement&rdquo;), dated as of October 20, 2017, among CP La Castellana S.A.U., the Inter-American Investment Corporation, the Inter-American Investment Corporation, acting as agent for the Inter-American Development Bank, the Inter-American Investment Corporation, as agent of the Inter-American Development Bank, in its capacity as administrator of the Canadian Climate Fund for the Private Sector of the Americas, and the International Finance Corporation (incorporated by reference to Exhibit 10.3 of our registration statement on Form F-1 (File No. 333-222402), as amended, filed with the Commission on January 3, 2018).</FONT></A></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000119312518006716/d464194dex104.htm"><FONT STYLE="font-size: 10pt">4.4.</FONT></A></TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000119312518006716/d464194dex104.htm"><FONT STYLE="font-size: 10pt">Amendment and Waiver to the Common Terms Agreement, dated as of December 22, 2017 (incorporated by reference to Exhibit 10.4 of our registration statement on Form F-1 (File No. 333-222402), as amended, filed with the Commission on January 3, 2018).</FONT></A></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000119312518006716/d464194dex105.htm"><FONT STYLE="font-size: 10pt">4.5.</FONT></A></TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000119312518006716/d464194dex105.htm"><FONT STYLE="font-size: 10pt">Loan Agreement, dated as of October 20, 2017, among CP La Castellana S.A.U., the Inter-American Investment Corporation, the Inter-American Investment Corporation, acting as agent for the Inter-American Development Bank, and the Inter-American Investment Corporation, as agent of the Inter-American Development Bank, in its capacity as administrator of the Canadian Climate Fund for the Private Sector of the Americas (incorporated by reference to Exhibit 10.5 of our registration statement on Form F-1 (File No. 333-222402), as amended, filed with the Commission on January 3, 2018).</FONT></A></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD></TR>
  </TABLE>

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<P STYLE="font: 10.5pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="3" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000119312518006716/d464194dex106.htm"><FONT STYLE="font-size: 10pt">4.6.</FONT></A></TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000119312518006716/d464194dex106.htm"><FONT STYLE="font-size: 10pt">Loan Agreement, dated as of October 20, 2017, among CP La Castellana S.A.U. and the International Finance Corporation (incorporated by reference to Exhibit 10.6 of our registration statement on Form F-1 (File No. 333-222402), as amended, filed with the Commission on January 3, 2018).</FONT></A></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000119312518006716/d464194dex107.htm"><FONT STYLE="font-size: 10pt">4.7.</FONT></A></TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000119312518006716/d464194dex107.htm"><FONT STYLE="font-size: 10pt">English translation of Agreement for Project Management and Operation, Increase of Thermal Generation Availability and Adaptation of Remuneration for Generation 2008-2011, dated as of November 25, 2010, among the Secretariat of Energy of the Ministry of Federal Planification, Public Investment and Services, and the generators named therein (the &ldquo;FONINVEMEM Arrangement for CVOSA&rdquo;) (incorporated by reference to Exhibit 10.7 of our registration statement on Form F-1 (File No. 333-222402), as amended, filed with the Commission on January 3, 2018).</FONT></A></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; width: 10%; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000119312518006716/d464194dex108.htm"><FONT STYLE="font-size: 10pt">4.8.</FONT></A></TD>
    <TD STYLE="width: 1%; text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000119312518006716/d464194dex108.htm"><FONT STYLE="font-size: 10pt">English translation of Addendum No. 1 to the Agreement for Project Management and Operation, Increase of Thermal Generation Availability and Adaptation of Remuneration for Generation 2008-2011, dated as of April 12, 2011, among the Secretariat of Energy of the Ministry of Federal Planification, Public Investment and Services, and the generators named therein (incorporated by reference to Exhibit 10.8 of our registration statement on Form F-1 (File No. 333-222402), as amended, filed with the Commission on January 3, 2018).</FONT></A></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000119312518006716/d464194dex109.htm"><FONT STYLE="font-size: 10pt">4.9.</FONT></A></TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000119312518006716/d464194dex109.htm"><FONT STYLE="font-size: 10pt">English translation of Addendum No. 2 to the Agreement for Project Management and Operation, Increase of Thermal Generation Availability and Adaptation of Remuneration for Generation 2008-2011, dated as of June 25, 2012, among the Secretariat of Energy of the Ministry of Federal Planification, Public Investment and Services, and the generators named therein (incorporated by reference to Exhibit 10.9 of our registration statement on Form F-1 (File No. 333-222402), as amended, filed with the Commission on January 3, 2018).</FONT></A></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000119312518006716/d464194dex1010.htm"><FONT STYLE="font-size: 10pt">4.10.</FONT></A></TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000119312518006716/d464194dex1010.htm"><FONT STYLE="font-size: 10pt">English translation of Final Agreement for the Management and Operation of Projects for the Reconversion of the MEM Under the Scope of Resolution No. 1427/2004 Issued by the Secretariat of Energy, as dated October 17, 2005, among the Argentine Secretariat of Energy and the generators named therein (the &ldquo;FONINVEMEM Arrangement for TJSM and TMB&rdquo;) (incorporated by reference to Exhibit 10.10 of our registration statement on Form F-1 (File No. 333-222402), as amended, filed with the Commission on January 3, 2018).</FONT></A></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000119312518010931/d464194dex1011.htm"><FONT STYLE="font-size: 10pt">4.11.</FONT></A></TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000119312518010931/d464194dex1011.htm"><FONT STYLE="font-size: 10pt">English translation of the Offer to Transfer the La Plata Steam and Electric Power Cogeneration Plant, dated as of December 15, 2017, from Central Puerto S.A. to YPF Energ&iacute;a El&eacute;ctrica S.A. (incorporated by reference to Exhibit 10.11 of our registration statement on Form F-1 (File No. 333-222402), as amended, filed with the Commission on January 3, 2018).</FONT></A></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000119312518013501/d464194dex1012.htm"><FONT STYLE="font-size: 10pt">4.12.</FONT></A></TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000119312518013501/d464194dex1012.htm"><FONT STYLE="font-size: 10pt">Common Terms Agreement, dated as of January 17, 2018, among CP Achiras S.A.U., the Inter-American Investment Corporation, the Inter-American Investment Corporation, acting as agent for the Inter-American Development Bank, the Inter-American Investment Corporation, as agent of the Inter-American Development Bank, in its capacity as administrator of the Canadian Climate Fund for the Private Sector of the Americas, and the International Finance Corporation (incorporated by reference to Exhibit 10.12 of our registration statement on Form F-1 (File No. 333-222402), as amended, filed with the Commission on January 3, 2018).</FONT></A></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000119312518013501/d464194dex1013.htm"><FONT STYLE="font-size: 10pt">4.13.</FONT></A></TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000119312518013501/d464194dex1013.htm"><FONT STYLE="font-size: 10pt">Loan Agreement, dated as of January 17, 2018, among CP Achiras S.A.U., the Inter-American Investment Corporation, the Inter-American Investment Corporation, acting as agent for the Inter-American Development Bank, and the Inter-American Investment Corporation, as agent of the Inter-American Development Bank, in its capacity as administrator of the Canadian Climate Fund for the Private Sector of the Americas (incorporated by reference to Exhibit 10.13 of our registration statement on Form F-1 (File No. 333-222402), as amended, filed with the Commission on January 3, 2018).</FONT></A></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD></TR>
  </TABLE>

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<TABLE CELLSPACING="3" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt; width: 10%"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000119312518013501/d464194dex1014.htm"><FONT STYLE="font-size: 10pt">4.14.</FONT></A></TD>
    <TD STYLE="text-align: justify; line-height: 12pt; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000119312518013501/d464194dex1014.htm"><FONT STYLE="font-size: 10pt">Loan Agreement, dated as of January 17, 2018, among CP Achiras S.A.U. and the International Finance Corporation (incorporated by reference to Exhibit 10.14 of our registration statement on Form F-1 (File No. 333-222402), as amended, filed with the Commission on January 3, 2018).</FONT></A></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000165495418004419/cepu_4-16.htm"><FONT STYLE="font-size: 10pt">4.16.</FONT></A></TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000165495418004419/cepu_4-16.htm"><FONT STYLE="font-size: 10pt">Wind Farm Omnibus Amendment and Agreement, dated March 16, 2018, among CP Achiras S.A.U., the Inter-American Investment Corporation, the Inter-American Investment Corporation, acting as agent for the Inter-American Development Bank, the Inter-American Investment Corporation, as agent of the Inter-American Development Bank, in its capacity as administrator of the Canadian Climate Fund for the Private Sector of the Americas, and the International Finance Corporation (incorporated by reference to Exhibit 4.16 of our annual report on Form 20-F (File No. 001-38376), filed with the Commission on April 27, 2018).&nbsp;</FONT></A></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000165495420004595/cepu_ex418.htm"><FONT STYLE="font-size: 10pt">4.18&nbsp;</FONT></A></TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000165495420004595/cepu_ex418.htm"><FONT STYLE="font-size: 10pt">Brigadier Lopez Power Plant transfer contract (incorporated by reference to Exhibit 4.18 of our annual report on Form 20-F/A (File No. 001-38376), filed with the Commission on April 29, 2020).</FONT></A></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000129281425001645/ex08-1.htm"><FONT STYLE="font-size: 10pt">8.1.</FONT></A></TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000129281425001645/ex08-1.htm"><FONT STYLE="font-size: 10pt">List of subsidiaries of Central Puerto S.A. as of the date of this annual report.</FONT></A></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000165495418004419/cepu_ex111.htm"><FONT STYLE="font-size: 10pt">11.1.</FONT></A></TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-bottom: 6pt; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000165495418004419/cepu_ex111.htm"><FONT STYLE="font-size: 10pt">Code of Ethics of Central Puerto S.A., as amended (incorporated by reference to Exhibit 11.1 of our annual report on Form 20-F (File No. 001-38376), filed with the Commission on April 27, 2018).</FONT></A></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000129281425001645/ex11-2.htm"><FONT STYLE="font-size: 10pt">11.2</FONT></A></TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000129281425001645/ex11-2.htm"><FONT STYLE="font-size: 10pt">Insider Trading Policy of Central Puerto S.A.</FONT></A></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt"><A HREF="ex12-1.htm">12.1.</A></FONT></TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt"><A HREF="ex12-1.htm">Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.</A></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt"><A HREF="ex12-2.htm">12.2.</A></FONT></TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt"><A HREF="ex12-2.htm">Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.</A></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt"><A HREF="ex13-1.htm">13.1</A></FONT></TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt"><A HREF="ex13-1.htm">Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.</A></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000119312518013501/d464194dex235.htm"><FONT STYLE="font-size: 10pt">15.2.</FONT></A></TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000119312518013501/d464194dex235.htm"><FONT STYLE="font-size: 10pt">Consent of Vaisala, Inc. (incorporated by reference to Exhibit 23.5 of our registration statement on Form F-1 (File No. 333-222402), as amended, filed with the Commission on January 3, 2018).</FONT></A></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000165495424005154/cepu_ex971.htm"><FONT STYLE="font-size: 10pt">97.1</FONT></A></TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1717161/000165495424005154/cepu_ex971.htm"><FONT STYLE="font-size: 10pt">Clawback Policy (incorporated by reference to Exhibit 97.1 of our annual report on Form 20-F (File No. 001-38376), filed with the Commission on April 29, 2024).</FONT></A></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt">101</FONT></TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt">XBRL Instance Document and related items.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 33.75pt">The registrant hereby certifies
that it meets all of the requirements for filing on Form 20-F and that it has duly caused and authorized the undersigned to sign this
Amendment No.1 to the 2024 Form 20-F on its behalf.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="3" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt">CENTRAL PUERTO S.A.</FONT></TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="width: 50%; text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 2%; text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 37%; border-bottom: black 1pt solid; text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt">/S/ ENRIQUE TERRANEO</FONT></TD>
    <TD STYLE="width: 11%; text-align: justify; line-height: 12pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Name: Enrique Terraneo</P>
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Title: Chief Financial Officer</P></TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Date: June 27, 2025.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>INDEX TO THE FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="3" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR>
    <TD STYLE="text-align: justify; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 8%; border-bottom: black 1pt solid; text-align: center; line-height: 12pt"><FONT STYLE="font-size: 10pt"><B>Page</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt"><B>Consolidated Financial Statements of Ecogas Inversiones S.A.</B></FONT></TD>
    <TD STYLE="text-align: right; line-height: 12pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18.7pt; text-align: justify; line-height: 12pt"><A HREF="#a_003"><FONT STYLE="font-size: 10pt">Report of Independent Auditors</FONT></A></TD>
    <TD STYLE="text-align: right; line-height: 12pt"><A HREF="#a_003"><FONT STYLE="font-size: 10pt">F-1</FONT></A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18.7pt; text-align: justify; line-height: 12pt"><A HREF="#a_004"><FONT STYLE="font-size: 10pt">Consolidated Statement of Comprehensive Income for the fiscal years ended December 31, 2024 (audited), 2023 (unaudited) and 2022 (unaudited)</FONT></A></TD>
    <TD STYLE="text-align: right; line-height: 12pt"><A HREF="#a_004"><FONT STYLE="font-size: 10pt">F-3</FONT></A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18.7pt; text-align: justify; line-height: 12pt"><A HREF="#a_005"><FONT STYLE="font-size: 10pt">Consolidated Balance Sheet as of December 31, 2024 (audited) and 2023 (unaudited)</FONT></A></TD>
    <TD STYLE="text-align: right; line-height: 12pt"><A HREF="#a_005"><FONT STYLE="font-size: 10pt">F-4</FONT></A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18.7pt; text-align: justify; line-height: 12pt"><A HREF="#a_006"><FONT STYLE="font-size: 10pt">Consolidated Statement of Changes in Equity for the fiscal years ended December 31, 2024 (audited), 2023 (unaudited) and 2022 (unaudited)</FONT></A></TD>
    <TD STYLE="text-align: right; line-height: 12pt"><A HREF="#a_006"><FONT STYLE="font-size: 10pt">F-5</FONT></A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18.7pt; text-align: justify; line-height: 12pt"><A HREF="#a_007">Consolidated Statement of Cash Flows for the fiscal years ended December 31, 2024 (audited), 2023 (unaudited) and 2022 (unaudited)</A></TD>
    <TD STYLE="text-align: right; line-height: 12pt"><A HREF="#a_007"><FONT STYLE="font-size: 10pt">F-6</FONT></A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18.7pt; text-align: justify; line-height: 12pt"><A HREF="#a_008"><FONT STYLE="font-size: 10pt">Notes to the Consolidated Financial Statements</FONT></A></TD>
    <TD STYLE="text-align: right; line-height: 12pt"><A HREF="#a_008"><FONT STYLE="font-size: 10pt">F-7</FONT></A></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">&nbsp;</P>


<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>



<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0 0 0 76.5pt; text-align: center; text-indent: -76.5pt"><B></B></P>

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<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0 0 0 76.5pt; text-align: center; text-indent: -76.5pt">&nbsp;</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0 0 0 76.5pt; text-align: center; text-indent: -76.5pt"><B>&nbsp;</B></P>


<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B><A NAME="a_003"></A>Report of Independent Auditors</B></P>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">To the Board of Directors of Ecogas Inversiones
S.A.:</P>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Opinion</B></P>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">We have audited the consolidated financial
statements of Ecogas Inversiones S.A. (&#8220;the Company&#8221;) which comprise the consolidated balance sheet as of December 31, 2024,
and the related consolidated statements of comprehensive income, changes in equity, and cash flows for the year then ended, and the related
notes (collectively referred to as the &#8220;financial statements&#8221;).</P>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">In our opinion, the accompanying financial
statements present fairly, in all material respects, the financial position of the Company as&nbsp;of&nbsp;December&nbsp;31,&nbsp;2024,
and the results of its operations and its cash flows for the year then ended in accordance with IFRS Accounting Standards as issued by
the International Accounting Standards Board.</P>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Basis for Opinion</B></P>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">We conducted our audit in accordance with
auditing standards generally accepted in the United States of America (&#8220;GAAS&#8221;). Our responsibilities under those standards
are further described in the Auditor&#8217;s Responsibilities for the Audit of the Financial Statements section of our report. We are
required to be independent of the Company and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements
relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinion.</P>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Other matter</B></P>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">The accompanying balance sheet of the Company
as of December 31, 2023, and the related consolidated statements of comprehensive income, changes in equity and cash flows for the years
ended on December 31, 2023 and 2022 were not audited, reviewed, or compiled by us, and, accordingly, we do not express an opinion or any
other form of assurance on them.</P>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Responsibilities of Management for the
Financial Statements</B></P>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">Management is responsible for the preparation
and fair presentation of the financial statements in accordance with International Financial Reporting Standards as issued by the International
Accounting Standards Board, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair
presentation of financial statements that are free from material misstatement, whether due to fraud or error.</P>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">In preparing the financial statements, management
is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company&#8217;s
ability to continue as a going concern for one year after the date that the financial statements are available to be issued.</P>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Auditor&#8217;s Responsibilities for
the Audit of the Financial Statements</B></P>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">Our objectives are to obtain reasonable
assurance about whether the financial statements as a whole are free of material misstatement, whether due to fraud or error, and to issue
an auditor&#8217;s report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and
therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists.
The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve
collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered
material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable
user based on the financial statements.</P>


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<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">In performing an audit in accordance with
GAAS, we:</P>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">&#8226; Exercise professional judgment and
maintain professional skepticism throughout the audit.</P>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">&#8226; Identify and assess the risks of
material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to
those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.</P>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">&#8226; Obtain an understanding of internal
control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of
expressing an opinion on the effectiveness of the Company&#8217;s internal control. Accordingly, no such opinion is expressed.</P>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">&#8226; Evaluate the appropriateness of
accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall
presentation of the financial statements.</P>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">&#8226; Conclude whether, in our judgment,
there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company&#8217;s ability to continue
as a going concern for a reasonable period of time.</P>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">We are required to communicate with those
charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain
internal control related matters identified during the audit.</P>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">/S/ PISTRELLI, HENRY MARTIN Y ASOCIADOS
S.A.</P>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">Member of Ernst &amp; Young Global&nbsp;Limited</P>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">City of Buenos Aires, Argentina</P>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">June 25, 2025</P>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0 0 0 76.5pt; text-align: center; text-indent: -76.5pt"><B>&nbsp;</B></P>




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<P STYLE="font: 9pt Sans-Serif; margin: 0; color: Red"></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center"><A NAME="a_004"></A><B>CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center"><B>FOR THE FISCAL YEAR ENDED DECEMBER 31, 2024</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center">(Stated in thousands of ARS, except the amounts of net income
per share expressed in ARS)</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 54%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 9pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="width: 6%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt"><B>Notes</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 12%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt"><B>12.31.2023</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 12%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt"><B>12.31.2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt"><B>ARS 000</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt"><B>ARS 000</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt"><B>ARS 000</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">(unaudited)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">(unaudited)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 7.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt">Income from ordinary activities</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt">3</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">488,882,678</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">318,269,609</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">372,072,205</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 7.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt">Cost of sales </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt">4</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">(314,724,967)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">(258,458,628)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">(289,018,720)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 7.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt">Administrative expenses </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt">5</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">(21,247,594)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">(30,754,508)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">(28,966,623)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 7.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt">Selling expenses</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt">5</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">(52,533,669)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">(36,795,137)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">(40,288,927)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 7.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt">Other operating income</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt">6</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">7,199,599</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">13,866,796</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">10,826,208</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 7.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt">Other operating expenses </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt">6</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">(4,542,839)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">(3,866,588)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">(4,336,718)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 7.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt"><B>Operating income</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt"><B>103,033,208</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt"><B>2,261,544</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt"><B>20,287,425</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 7.1pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 7.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt">Financial income</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt">6</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">6,455,643</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">95,717,084</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">13,611,147</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 7.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt">Financial costs</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt">6</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">(8,744,995)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">(7,520,205)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">(6,609,445)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 7.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt">Interest in the net income (loss) of associates</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt">7</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">556,063</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">190,436</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">(867)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 7.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt">Loss on net monetary position</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">(24,706,395)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">(54,807,203)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">(30,110,157)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 7.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt"><B>Income (loss) before income tax</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt"><B>76,593,524</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt"><B>35,841,656</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt"><B>(2,821,897)</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 7.1pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 7.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt">Income tax</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt">8</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">(35,640,796)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">(6,397,308)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">(6,585,424)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 7.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt"><B>Net comprehensive income (loss) for the fiscal year</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt"><B>40,952,728</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt"><B>29,444,348</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt"><B>(9,407,321)</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 7.1pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 7.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt"><B>Income (loss) attributable to:</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 7.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt">Owners of the parent </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">23,480,460</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">17,845,514</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">(3,635,775)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 7.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt">Non-controlling interest</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">17,472,268</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">11,598,834</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">(5,771,546)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 7.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt"><B>Net comprehensive income (loss) for the fiscal year</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt"><B>40,952,728</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt"><B>29,444,348</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt"><B>(9,407,321)</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 7.1pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 7.1pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 7.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt"><B>Income (loss) per share: </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 35.45pt; font-family: Times New Roman,serif; text-indent: -28.35pt"><FONT STYLE="font-size: 9pt">Basic and diluted</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt">9</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">1,656.03</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">1,258.61</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">(256.42)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center"><B>&nbsp;</B></P>



<!-- Field: Page; Sequence: 13; Options: NewSection; Value: 3 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR><TR><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: center">&nbsp;F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 100%">&nbsp;<IMG SRC="cepu202506196k_001.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center"><P STYLE="font: 12pt Cambria,serif; margin: 0; text-align: center; border-bottom: #BFBFBF 0.5pt solid"><B>ECOGAS INVERSIONES S.A.</B></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center"><B><A NAME="a_005"></A>CONSOLIDATED BALANCE SHEET</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center"><B>as of December 31, 2024</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 2pt Times New Roman,serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 1pt Times New Roman,serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 57%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 7%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>Notes</B></FONT></TD>
    <TD STYLE="width: 17%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 17%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>12.31.2023</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>ARS 000</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>ARS 000</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>ASSETS</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">(unaudited)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>NON-CURRENT ASSETS</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Property, plant and equipment</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">10</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;378,533,600 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;388,101,563 </FONT></TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Investment property</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">11</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;4,823,470 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;4,930,839 </FONT></TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Intangible assets</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">12</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;2,869,365 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;2,645,027 </FONT></TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Investments in associates</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">7</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">1,272,180</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">716,117</FONT></TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Receivables from related entities</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">16</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">59,534</FONT></TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Other non-financial assets</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">14.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">79,094</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">75,533</FONT></TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Trade receivables and other receivables</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">13.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">29</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">63</FONT></TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>Total Non-Current assets</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>387,577,738</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>396,528,676</B></FONT></TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>CURRENT ASSETS</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Inventories </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">14.2</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">667,363</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">1,026,007</FONT></TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Income tax receivable</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">8</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">818,576</FONT></TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Receivables from related entities</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">16</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">1,073,015</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">225,270</FONT></TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Other financial assets </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">13.2</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">81,001,651</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">63,586,235</FONT></TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Other non-financial assets</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">14.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">9,441,924</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">8,342,651</FONT></TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Trade receivables and other receivables</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">13.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">89,789,292</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">51,492,356</FONT></TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Cash and cash equivalents</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">2.3.3</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">32,895,903</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">10,180,323</FONT></TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>Total Current assets</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>214,869,148</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>135,671,418</B></FONT></TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>TOTAL ASSETS</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>602,446,886</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>532,200,094</B></FONT></TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>EQUITY AND LIABILITIES</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>EQUITY</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Issued capital </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">17.3</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">141,787</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">141,787</FONT></TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Capital adjustment</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">17.4</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;143,743,772 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;143,743,772 </FONT></TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Share premium</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">17.5</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;1,588,735 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;1,588,735 </FONT></TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Legal reserve</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">17.6</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;9,141,219 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;8,248,944 </FONT></TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Optional reserves</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">17.7</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;25,587,232 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;17,780,066 </FONT></TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Cumulative retained earnings&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;27,083,896 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;17,845,514 </FONT></TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>Equity attributable to owners of the parent </B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;207,286,641 </B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;189,348,818 </B></FONT></TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Non-controlling interest</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">175,464,276</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">158,569,570</FONT></TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>Total Equity</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>382,750,917</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>347,918,388</B></FONT></TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>NON-CURRENT LIABILITIES</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Trade payables and other payables</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">13.3</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;1,936,450 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;759,974 </FONT></TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Other non-financial liabilities</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">14.3</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;8,875 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;3,517 </FONT></TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Wages and social security contributions</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">14.4</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;8,343 </FONT></TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Deferred-tax liability</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">8</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;83,226,137 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;86,653,228 </FONT></TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>Total Non-Current liabilities</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;85,171,462 </B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;87,425,062 </B></FONT></TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>CURRENT LIABILITIES</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Trade payables and other payables </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">13.3</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;84,868,741 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;42,463,425 </FONT></TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Other non-financial liabilities</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">14.3</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;4,135,382 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;5,837,788 </FONT></TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Wages and social security contributions</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">14.4</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;4,137,048 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;4,599,596 </FONT></TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Payables to related entities </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;16,148 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;- </FONT></TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Income tax payable</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;31,251,307 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;- </FONT></TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Provisions</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">15</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;4,181,670 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;7,394,060 </FONT></TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Dividends payable</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">16</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;32,884,164 </FONT></TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Tax payable</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">14.5</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;5,934,211 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;3,677,611 </FONT></TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>Total Current liabilities</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;134,524,507 </B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;96,856,644 </B></FONT></TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>TOTAL LIABILITIES</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;219,695,969 </B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 35.45pt; font-family: Times New Roman,serif; text-align: right; text-indent: -35.45pt"><FONT STYLE="font-size: 7pt"><B>&nbsp;184,281,706 </B></FONT></TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>TOTAL LIABILITIES AND EQUITY </B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>426,982,610</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>373,630,524</B></FONT></TD>
    </TR>
  </TABLE>

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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR><TR><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: center">&nbsp;F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 100%">&nbsp;<IMG SRC="cepu202506196k_001.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center"><P STYLE="font: 12pt Cambria,serif; margin: 0; text-align: center; border-bottom: #BFBFBF 0.5pt solid"><B>ECOGAS INVERSIONES S.A.</B></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt/83% Times New Roman,serif; margin: 0; text-align: center"><B><A NAME="a_006"></A>CONSOLIDATED STATEMENT OF CHANGES IN EQUITY</B></P>

<P STYLE="font: 10pt/83% Times New Roman,serif; margin: 0; text-align: center"><B>FOR THE FISCAL YEAR ENDED DECEMBER 31, 2024</B></P>

<P STYLE="font: 10pt/115% Times New Roman,serif; margin: 0 0 10pt; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD ROWSPAN="2" STYLE="border: black 1pt solid; padding-right: 3.55pt; padding-bottom: 2.7pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>ITEM</B></FONT></TD>
    <TD COLSPAN="4" STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>SHARE CAPITAL</B></FONT></TD>
    <TD COLSPAN="4" STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>ACCUMULATIVE INCOME (LOSS)</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt">
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center"><B>EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center"><B>ARS 000</B></P></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt">
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center"><B>NON-CONTROLLING INTEREST</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center"><B>ARS 000</B></P></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>TOTAL EQUITY ARS 000</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt">
    <P STYLE="font: 6pt/83% Times New Roman,serif; margin: 0; text-align: center"><B>COMMON SHARES</B></P>
    <P STYLE="font: 6pt/83% Times New Roman,serif; margin: 0; text-align: center"><B>FACE VALUE</B></P>
    <P STYLE="font: 6pt/83% Times New Roman,serif; margin: 0; text-align: center"><B>ARS 000</B></P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt">
    <P STYLE="font: 6pt/83% Times New Roman,serif; margin: 0; text-align: center"><B>SHARE CAPITAL</B></P>
    <P STYLE="font: 6pt/83% Times New Roman,serif; margin: 0; text-align: center"><B>ADJUSTMENT</B></P>
    <P STYLE="font: 6pt/83% Times New Roman,serif; margin: 0; text-align: center"><B>ARS 000</B></P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt">
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0 1.65pt 0 0; text-align: center"><B>SHARE PREMIUM</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0 1.65pt 0 0; text-align: center"><B>ARS 000</B></P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt">
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0 1.65pt 0 0; text-align: center"><B>TOTAL</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0 1.65pt 0 0; text-align: center"><B>ARS 000</B></P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt">
    <P STYLE="font: 6pt/83% Times New Roman,serif; margin: 0; text-align: center"><B>LEGAL</B></P>
    <P STYLE="font: 6pt/83% Times New Roman,serif; margin: 0; text-align: center"><B>RESERVE</B></P>
    <P STYLE="font: 6pt/83% Times New Roman,serif; margin: 0; text-align: center"><B>ARS 000</B></P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt">
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center"><B>VOLUNTARY RESERVE FOR FUTURE PAYMENTS OF DIVIDENDS</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center"><B>ARS 000</B></P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt">
    <P STYLE="font: 6pt/83% Times New Roman,serif; margin: 0; text-align: center"><B>ACCUMULATIVE RETAINED EARNINGS</B></P>
    <P STYLE="font: 6pt/83% Times New Roman,serif; margin: 0; text-align: center"><B>ARS 000</B></P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt">
    <P STYLE="font: 6pt/83% Times New Roman,serif; margin: 0; text-align: center"><B>TOTAL</B></P>
    <P STYLE="font: 6pt/83% Times New Roman,serif; margin: 0; text-align: center"><B>ARS 000</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 19%; border-left: black 1pt solid; border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt"><B>Balances as of January 1, 2022 </B></FONT><B><FONT STYLE="font-size: 5pt">(unaudited)</FONT></B></TD>
    <TD STYLE="width: 7%; border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;141,787 </B></FONT></TD>
    <TD STYLE="width: 7%; border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;143,743,772 </B></FONT></TD>
    <TD STYLE="width: 7%; border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;1,588,735 </B></FONT></TD>
    <TD STYLE="width: 7%; border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;145,474,294 </B></FONT></TD>
    <TD STYLE="width: 7%; border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;8,248,944 </B></FONT></TD>
    <TD STYLE="width: 8%; border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>77,858,948</B></FONT></TD>
    <TD STYLE="width: 8%; border-right: black 1pt solid; padding-right: -2.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>(17,764,482)</B></FONT></TD>
    <TD STYLE="width: 6%; border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>68,343,410</B></FONT></TD>
    <TD STYLE="width: 8%; border-top: black 1pt solid; border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>213,817,704</B></FONT></TD>
    <TD STYLE="width: 8%; border-top: black 1pt solid; border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>184,043,909</B></FONT></TD>
    <TD STYLE="width: 8%; border-top: black 1pt solid; border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>397,861,613</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: -2.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Capital increase</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: -2.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">107,705</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">107,705</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Decision at Shareholders Meeting dated April 22, 2022 (Note 19):</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: -2.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Voluntary reserve</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(17,764,482)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: -2.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">17,764,482</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Dividends</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(1,573,272)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: -2.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(1,573,272)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(1,573,272)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(79,329)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(1,652,601)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Net loss for the year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: -2.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(3,635,775)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(3,635,775)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(3,635,775)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(5,771,546)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(9,407,321)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt"><B>Balances as of December 31, 2022 </B></FONT><B><FONT STYLE="font-size: 5pt">(unaudited)</FONT></B></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;141,787 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;143,743,772 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;1,588,735 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;145,474,294 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;8,248,944 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;58,521,194 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: -2.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>(3,635,775) </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;63,134,363 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;208,608,657 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;178,300,739 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;386,909,396 </B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Capital increase</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: -2.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">71,524</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">71,524</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Decision at Shareholders Meeting dated April 21, 2023 (Note 19):</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: -2.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Voluntary reserve</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(3,635,775)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: -2.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">3,635,775</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: -2.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Dividends</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(5,601,380)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: -2.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(5,601,380)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(5,601,380)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(31,401,527)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(37,002,907)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Decision at Shareholders Meeting dated December 21, 2023 (Note 19)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: -2.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Payment of dividends</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(31,503,973)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: -2.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(31,503,973)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(31,503,973)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(31,503,973)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: -2.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Net income for the year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: -2.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">17,845,514</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">17,845,514</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">17,845,514</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">11,598,834</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">29,444,348</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt"><B>Balances as of December 31, 2023 </B></FONT><B><FONT STYLE="font-size: 5pt">(unaudited)</FONT></B></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;141,787 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;143,743,772 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;1,588,735 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;145,474,294 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;8,248,944 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;17,780,066 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: -2.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;17,845,514 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;43,874,524 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;189,348,818 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;158,569,570 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;347,918,388 </B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Decision at Shareholders Meeting dated April 19, 2024 (Note 19):</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: -2.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Legal reserve</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;892,275 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: -2.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(892,275) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: -2.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Voluntary reserve</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;7,807,166 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: -2.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(7,807,166) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: -2.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Dividends</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: -2.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(5,542,637) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(5,542,637) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(5,542,637) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(577,562) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(6,120,199) </FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: -2.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Net income for the year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: -2.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;23,480,460 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;23,480,460 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;23,480,460 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;17,472,268 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;40,952,728 </FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: -2.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt"><B>Balances as of December 31, 2024</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;141,787 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;143,743,772 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;1,588,735 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;145,474,294 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;9,141,219 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;25,587,232 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: -2.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;27,083,896 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;61,812,347 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;207,286,641 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;175,464,276 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;382,750,917 </B></FONT></TD></TR>
  </TABLE>

<!-- Field: Page; Sequence: 15 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR><TR><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: center">&nbsp;F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 100%">&nbsp;<IMG SRC="cepu202506196k_001.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center"><P STYLE="font: 12pt Cambria,serif; margin: 0; text-align: center; border-bottom: #BFBFBF 0.5pt solid"><B>ECOGAS INVERSIONES S.A.</B></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center"><B><A NAME="a_007"></A>CONSOLIDATED STATEMENT OF CASH FLOWS</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center"><B>FOR THE FISCAL YEAR ENDED DECEMBER 31, 2024</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 58%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 7%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Notes</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 11%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 11%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>12.31.2023</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 11%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>12.31.2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>ARS 000</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>ARS 000</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>ARS 000</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt"><B><U>REASONS FOR CASH VARIATIONS</U></B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 5pt">(unaudited)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 5pt">(unaudited)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt"><B><U>OPERATING ACTIVITIES</U></B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Income (loss) for the fiscal year before income tax</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;76,593,524 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;35,841,656 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(2,821,897)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt"><U>Adjustments to reconcile the profit for the fiscal year before income tax with net cash flows:</U></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Property, plant and equipment depreciation</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt">5</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;24,391,137 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;25,254,395 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">25,345,022</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Investment properties depreciation</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt">6</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;107,369 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;107,369 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">107,179</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Intangible assets amortization</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt">5</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;1,052,251 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;1,071,924 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">1,790,080</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Income (loss) from property, plant and equipment sold</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt">6</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(61,375) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(195,784) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(4,733)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Derecognition of property, plant and equipment and intangibles due to decommissioning and consumption</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt">10 and 12</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;1,331,484 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;1,862,144 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">1,644,153</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Net increase (decrease) of provision for doubtful debts and other receivables</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt">5</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;2,387,691 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(262,126) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">76,052</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">(Loss) income in permanent investments</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt">7</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(556,063) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(33,626) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">867</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Net increase of the provision for trials and claims</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt">15</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;1,911,012 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;7,928,541 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">11,260,082</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Holding income (loss) on liabilities</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt">6</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">1,086,148</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Holding income (loss) on investments and on cash and cash equivalents</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt">6</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(6,666,488) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(79,265,134) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(7,531,338)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Exchange differences on cash and cash equivalents</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt">6</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(685,719) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(15,807,881) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(3,495,923)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Exchange differences on trade receivables and other receivables</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt">6</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(846,173) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(2,420,571) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(1,534,401)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Loss on net monetary position on cash and cash equivalents</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(4,349,914) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(7,956,858) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(6,396,435)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Interest gained and lost in the FY</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt">5 and 6</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;7,233,954 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(3,379,919) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(2,731,695)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Exchange differences from liabilities</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt">6</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;967,635 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;5,124,730 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">1,708,228</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt"><B>Working capital adjustments:</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">(Increase) Decrease in other non-financial assets</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(1,266,246) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;1,634,839 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">1,017,293</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">(Increase) Decrease in trade receivables and other receivables</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(40,574,263) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;33,568,514 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">8,778,390</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Decrease (Increase) in inventory </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;358,644 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;38,550 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(582,016)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Decrease in Income Tax Credits</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">530.179</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">(Increase) Decrease in receivables from related entities</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(689,693)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(17,811,475) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">287.020</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Increase (Decrease) in trade payables and other payables</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;29,078,724 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(23,209,345) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(21.388.227)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">(Decrease) Increase in other non-financial liabilities</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(1,528,026) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(2,885,228) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">2.901.528</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">(Decrease) Increase in payables to related entities</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(254,159) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;156,207 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">178.912</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Increase (Decrease) in wages and social security contributions</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;89,094 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(390,811) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">88.048</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">(Decrease) Increase in income tax payable</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(2,262,707) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;907,759 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(9.124.798)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Decrease in tax payable</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(1,854,930) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(5,071,342) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(6.213.946)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Income tax paid</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(1,795,492) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(1,120,061) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(4.415.366)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Interest paid</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(224,019) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(804,363) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(196.136)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Interest received</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;4,182,400 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;8,239,219 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">9.488.122</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Trial payments</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt">15</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(427,840) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(448,170) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(684.264)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt"><B>NET CASH FLOW GENERATED BY (USED IN) OPERATING ACTIVITIES</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>86,727,960</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>(39,326,847) </B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>(1,920,020)</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt"><B>INVESTING ACTIVITIES</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Increase in other financial assets</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(31.657.153)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(1.113.622)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(4.447.699)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Decrease in other financial assets</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">14.290.190</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">64.362.621</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">15.061.984</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Dividends received from subsidiary</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;1,088,612 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Sales of interest in subsidiary</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">239.178</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">40.896</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Acquisition of property, plant and equipment, intangible assets and investment property</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(17,431,247) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(11,124,883) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(11,392,543)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Proceeds from sale of property, plant and equipment</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;61,375 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;195,784 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">4,733</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Increase in investments in associates</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(649,824)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(3,665)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Decrease in investments in associates</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;1,436,439 </FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt"><B>NET CASH FLOW (USED IN) GENERATED BY INVESTING ACTIVITIES</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>(34,298,047)</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;53,995,517 </B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>(736,294)</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt"><B>FINANCING ACTIVITIES</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Dividends paid</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(38,492,985) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(38,265,346) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(1,581,567)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Repayment of loans</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(2,478,994) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Capital contributions received</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;71,524 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">107,705</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt"><B>NET CASH FLOW USED IN FINANCING ACTIVITIES</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>(40,971,979) </B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>(38,193,822) </B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>(1,473,862)</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt"><B>Net Increase (Decrease) in cash and cash equivalents</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;11,457,934 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(23,525,152) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(4,130,176)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Exchange differences in cash and cash equivalents</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;685,719 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;15,807,881 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">3,495,924</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Holding gains on cash and cash equivalents</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;6,222,013 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Loss on net monetary position on cash and cash equivalents</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;4,349,914 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;7,956,858 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">6,396,435</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Cash and cash equivalents at the beginning of the FY</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt">2.3.3</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;10,180,323 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;9,940,736 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">4,178,553</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt"><B>Cash and cash equivalents at year-end</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt">2.3.3</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;32,895,903 </B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;10,180,323 </B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>9,940,736</B></FONT></TD></TR>
  </TABLE>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 14.2pt; text-align: center"><B><A NAME="a_008"></A>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center"><B>FOR THE FISCAL YEAR ENDED DECEMBER 31, 2024</B></P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0.1pt 0 0; text-align: center">(Amounts stated in thousands of ARS, except the amounts
of net income (loss) per share stated in ARS)</P>

<P STYLE="font: 8pt Times New Roman,serif; margin: 0 0.1pt 0 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B><U>NOTE 1. INFORMATION OF THE GROUP</U></B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>1.1</B></TD><TD><B>Corporate information and principal activity of the Group</B></TD></TR></TABLE>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Ecogas Inversiones S.A. (formerly Inversora de Gas del Centro
S.A., see note 1.3), hereinafter the &#8220;Company&#8221; or &#8220;ECOG&#8221;, and the entities comprising the economic group (hereinafter,
the &#8220;Group&#8221;) form a company-integrated group associated with the energy sector, primarily engaged in gas distribution and
investing activities.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The Group carries out its activity through the companies Distribuidora
de Gas del Centro S.A. (&#8220;DGC&#8221;), Distribuidora de Gas Cuyana S.A. (&#8220;DGCU&#8221;), Energ&iacute;a Sudamericana S.A. (&#8220;ENSUD&#8221;),
and GASDIFEX S.A. (&#8220;GASDIFEX&#8221;).</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On April 14, 2023, the Company transferred its entire shareholding
in COySERV S.A., which represented a 10% interest in that entity. Likewise, on June 11, 2024, the Company transferred its entire shareholding
in GESER S.A., which represented a 77.873% share interest. In the movement items of the financial statements, those effects are disclosed
under decreases for the respective fiscal years.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Ecogas Inversiones S.A. is an entity incorporated in accordance
with the Argentine legislation and subject to the regulations of the Business Entities Act and the related regulations of the Argentine
Securities Commission (&#8220;CNV&#8221;). On January 21, 2025, the Company, with its legal address at Alem 855 (City of Buenos Aires),
completed the authorization process for the public offering of its shares and their listing with CNV and Bolsas y Mercados Argentinos
S.A. (&#8220;BYMA&#8221;), respectively. Accordingly, its shares are listed under the ticker &#8220;ECOG.&#8221;</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The issuance of these financial statements for the fiscal
year ended December 31, 2024, was approved by the Company&#8217;s Board of Directors on June 25, 2025.</P>

<P STYLE="font: 1pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>1.2</B></TD><TD STYLE="text-align: justify"><B>Corporate control</B></TD></TR></TABLE>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The details showing the corporate control are the following:</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 42.55pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD ROWSPAN="2" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>Subsidiary</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>% of direct interest in common shares and possible votes as of</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>Year-end date</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>Legal Address:</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>12.31.2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 27%; border: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Distribuidora de Gas del Centro S.A.</FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">55.29</FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">55.29</FONT></TD>
    <TD STYLE="width: 9%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">12.31.2024</FONT></TD>
    <TD STYLE="width: 42%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Av. Leandro N. Alem 855, 25th Floor, City of Buenos Aires</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Distribuidora de Gas Cuyana S.A.</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">51</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">51</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">12.31.2024</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Av. Leandro N. Alem 855, 25th Floor, City of Buenos Aires</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Energ&iacute;a Sudamericana S.A.</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">97.05</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">97.05</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">12.31.2024</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Av. Leandro N. Alem 855, 25th Floor, City of Buenos Aires</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">GASDIFEX S.A.</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">70</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">70</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">12.31.2024</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Av. Bartolom&eacute; Mitre 538, 2nd Floor, office 3, Mendoza</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">GESER S.A. </FONT><FONT STYLE="font-size: 6pt">(2)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">77.873</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">12.31.2024</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Av. Leandro N. Alem 855, 25th Floor, City of Buenos Aires</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">COySERV S.A. </FONT><FONT STYLE="font-size: 6pt">(1)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">12.31.2024</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Av. Leandro N. Alem 855, 25th Floor, City of Buenos Aires</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 3pt Times New Roman,serif; margin: 0 56.8pt 0 28.35pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 63.85pt 0 7.1pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 6pt">(1)</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 6pt">On April 14, 2023, ECOG transferred its entire shareholding in COySERV S.A., which represented a 10%
share interest. In every movement item, this net effect is disclosed under derecognitions (Note 7). </FONT></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 63.85pt 0 7.1pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 6pt">(2)</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 6pt">On June 11, 2024, ECOG transferred its entire shareholding in GESER S.A., which represented a 77.873%
share interest. In every movement item, this net effect is disclosed under derecognitions (Note 7).</FONT></P>

<P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>1.3</B></TD><TD STYLE="text-align: justify"><B>Change in corporate name</B></TD></TR></TABLE>

<P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On September 30, 2024, the Annual and Extraordinary General
Meeting, and the Special Meetings of Classes A, B, C and D, shareholders resolved to change the corporate name from Inversora de Gas del
Centro S.A. to ECOGAS Inversiones S.A. That change in name was registered with the Business Entities Registry for the City of Buenos Aires
on February 4, 2025 under number <B>1856 of Book 120, Volume of Stock Corporations</B>.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>1.4</B></TD><TD STYLE="text-align: justify"><B>Regulatory framework</B></TD></TR></TABLE>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 32.2pt; text-align: justify; text-indent: -0.25in"><B>a)<FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>General aspects</B></P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The natural gas distribution system is regulated by the Gas
Law which, along with Decree PEN (Executive Branch) No. 1,738/1992, other regulatory decrees, the Terms of Reference and Conditions (&quot;the
Terms&quot;), the CT, and the License, establish the legal framework for the activities of the companies that make up the economic group.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The Gas Law created the Argentine Gas Regulating Entity (&#8220;ENARGAS&#8221;)
as a regulatory entity to manage and implement what is established by it and the applicable regulations. Consequently, the Company is
also subject to the regulations issued by ENARGAS.</P>


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<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The jurisdiction of ENARGAS extends to the transport, sale,
storage, and distribution of gas. Its mandate, according to what is expressed in the Gas Law, includes the protection of consumers, the
maintenance of competition in the supply and demand of gas, and the promotion of long-term investments in the gas industry. ENARGAS has,
among its powers, the establishment of the calculation bases for tariffs, their approval, and oversight. It also has the authority to
require information to verify compliance with the Gas Law and its regulations.</P>

<P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 32.2pt; text-align: justify; text-indent: -0.25in"><B>b)<FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> Distribution Tariffs</B></P>

<P STYLE="font: 2pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Section 38 of the Gas Law establishes that the tariffs applicable
for the services provided by distributors must ensure a reasonable return and cover all reasonable operating costs related to the service,
taxes, and amortizations. Additionally, Section 39 establishes that the return should be like that of other comparable or equivalent risk
activities and relate to the degree of efficiency and satisfactory service provision.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The License establishes that gas distribution tariffs must
be calculated in US dollars and must be expressed in ARS, in accordance with Law 23,928 of Convertibility (&#8220;Convertibility Law&#8221;)
or whatever replaces it, at the time of billing application. Following the Argentine crisis of 2001, in 2002 the government promulgated
Law 25,561 (the &#8220;Emergency Law&#8221;), which contains provisions that invalidate clauses related to tariff adjustments in USD and
indexing clauses based on external price indices such as the PPI index.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Tariffs are established during the Five-Year Tariff Review
process (&quot;RQT&quot;) for five-year periods based on the scheme known as <I>price-cap</I> or maximum prices.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">In accordance with section <FONT STYLE="background-color: white">41
</FONT>of the Gas Law, tariffs will be adjusted according to a methodology based on international market indicators, which would reflect
changes in the value of goods and services. Also, the Gas Law includes adjustments (positive and/or negative) to promote efficiency and,
at the same time, investments in the construction, operation, and maintenance of facilities. Tariffs should be subject to the following
adjustments:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">a)</TD><TD STYLE="text-align: justify">Periodic and preset adjustments:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">i)</TD><TD STYLE="text-align: justify">Due to variations in international market indicators (section 41)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">ii)</TD><TD STYLE="text-align: justify">Due to variations in the price of purchased gas.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">iii)</TD><TD STYLE="text-align: justify">Due to variations in the cost of transport.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">b)</TD><TD STYLE="text-align: justify">Five-Year Tariff Reviews <FONT STYLE="background-color: white">(</FONT>section 42<FONT STYLE="background-color: white">).
ENARGAS will review the tariff adjustment system in accordance with the provisions of sections 38 and 39.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">c)</TD><TD STYLE="text-align: justify">Non-recurring:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">i)</TD><TD STYLE="text-align: justify">Based on objective and justified circumstances (section 46)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">ii)</TD><TD STYLE="text-align: justify">Based on tax changes (section 41). Cost variations arising from tax regulations (excluding income tax)
will be transferred to the tariff.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">iii)</TD><TD STYLE="text-align: justify">When ENARGAS considers, as a result of procedures initiated ex officio or complaints from individuals,
that there are grounds to consider that a tariff, charge, classification, service of a transporter or distributor is inadequate, improperly,
discriminatory, or preferential, it will notify the transporter or distributor of such circumstances and make it public by calling a public
hearing (&#8220;AP&#8221;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The subsequent events and updates regarding the distribution
tariff are addressed in Note 19 of these consolidated financial statements.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 2pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 32.2pt; text-align: justify; text-indent: -0.25in"><B>c)<FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Distribution License</B></P>

<P STYLE="font: 2pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The license was targeted for a period of thirty-five years
starting from December 28, 1992, to DGC and DGCU, having the right to a single extension of ten years from the expiration of said term,
if it has substantially complied with the obligations imposed by the License and by ENARGAS. The transportation and distribution of natural
gas must be carried out by legal entities of private law, and the licenses granted may not be subject to redemption by the EN, nor will
they be modified during their validity without the consent of the licensees, unless grounds for expiration occur.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The license for the provision of the public service of gas
distribution provides for certain causes for expiration, among others, the following:</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 32.2pt; text-align: justify">- Serious and recurring non-compliance with obligations
by the Company.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 32.2pt; text-align: justify">- The commission of a serious infringement, after
the total amount of fines imposed on the Company in the last five years has exceeded 5% of its revenue for the last year, net of taxes
and fees.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 32.2pt; text-align: justify">- Total interruption of service, due to causes
attributable to the Company, lasting more than 15 consecutive days, or more than 30 non-consecutive days within the same calendar year.</P>


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<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 32.2pt; text-align: justify">- Partial interruption of service provision, due
to causes attributable to the Company, affecting the total service distribution capacity by more than 10% for 30 consecutive days or for
60 non-consecutive days in the same calendar year.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 32.2pt; text-align: justify">- Abandonment of the licensed service provision,
attempted unilateral assignment or transfer, total or partial, of the License (without prior authorization from ENARGAS), or resignation
of the License, except in cases permitted therein.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">According to the provisions of the License, DGC and DGCU shall
not assume debts of ECOG nor grant real or other guarantees in favor of ECOG's creditors for any cause related to such debts or claims;
nor shall they provide credits to ECOG for any reason.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Once the extension period of the License has expired, DGC
and DGCU will have the right to participate in the new tender. If DGC and DGCU do not exercise the right to the extension, or if they
exercise it and do not submit a proposal for the new tender, then they will have the right to collect the lesser of the two following
amounts: the book value of the property, plant, and equipment, determined based on the price paid to Gas del Estado S.E. (&#8220;GdE&#8221;)
, and the original cost of subsequent investments made in USD and adjusted for the PPI, subtracting from this cost the accumulated depreciation
(which will be computed using the normal rules regarding useful life, as determined by ENARGAS); and the proceeds from the new tender,
net of expenses and taxes paid by the winning participant.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 1.4pt 0 0; text-align: justify">At the end of the License and provided that it is
not awarded in the new bidding and within the framework of current legislation, the Society shall be obliged to transfer the essential
assets listed in the updated inventory as of the expiration date, free of any debts, lines, or seizures and in good operational condition.
Additionally, it must settle all its liabilities.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 1.4pt 0 0; text-align: justify">It is worth mentioning that, upon the expiration
of the License, the mechanisms provided encourage the continuity of the Licensee and, therefore, its permanence. Similarly, even in the
event of termination due to expiration or resignation, the granting State does not resume the provision of the service but must call for
a new bidding for a private legal entity to provide the service. According to the License, it is the obligation of the Grantor (the EN)
to &quot;allow the Licensee to collect the Tariffs&quot; under the terms defined in the License.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0 1.4pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 32.2pt; text-align: justify; text-indent: -0.25in"><B>d)<FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Essential assets</B></P>

<P STYLE="font: 1pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 1.4pt 0 0; text-align: justify">A substantial portion of the assets transferred
to DGC and DGCU by GdE have been defined as essential for providing the licensed service, so the Company is obliged to repair them and
make all necessary improvements in order to keep them in good operating condition, to comply with the safety standards established in
the regulations.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 1.4pt 0 0; text-align: justify">DGC and DGCU may dispose of essential assets, encumber
them, lease them, sub-lease them, grant them on loan, or allocate them to other uses than the provision of the licensed service, with
prior authorization from ENARGAS, except for the extensions and improvements that DGC and DGCU incorporate into the distribution network
after taking possession, which may be encumbered to secure loans with a term of more than one year taken to finance new extensions and
improvements of the licensed service. The goods acquired and/or constructed by DGC and DGCU are not subject to any prior authorization.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0 1.4pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B><U>NOTE 2. PRESENTATION BASIS OF THE CONSOLIDATED FINANCIAL
STATEMENTS</U></B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>2.1 Professional Accounting Standards adopted</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 60.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The Group&acute;s consolidated financial statements of ECOG
have been prepared in accordance with IFRS Accounting Standards (&#8220;IFRS&#8221;) as issued by the International Accounting Standards
Board (&#8220;IASB&#8221;).</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>2.2 Presentation basis</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The Group&acute;s consolidated financial statements for the
fiscal year ending December 31, 2024, have been restated to consider the changes in the general purchasing power of the Company&#8217;s
functional currency (ARS) as per IAS 29. Consequently, the Group&acute;s consolidated financial statements are stated in the measuring
unit at the end of the reporting period.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The financial statements are presented in ARS, and all values
are rounded to the nearest thousand (ARS thousand), except where otherwise indicated.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0.05pt 0 0; text-align: justify">In accordance with IAS 29, the restatement of the
financial statements is necessary when an entity&#8217;s functional currency is the currency of a hyperinflationary economy. For the purposes
of determining whether an economy is hyperinflationary, IAS 29 provides a series of guidelines, including but not limited to: (i) assessing
the behavior of the population, prices, interest rates and wages in relation to the evolution of price indexes and the loss of the currency&#8217;s
purchasing power, and (ii) as a quantitative characteristic, which is the most commonly considered condition in practice, verifying whether
the cumulative inflation rate over three years is approaching, or exceeds, 100%.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The Argentine Securities Commission established that the series
of indexes to be used in the IAS 29 application is the one established by the Argentine Federation of Professional Councils in Economic
Sciences (FACPCE). Considering that index, inflation was 117.76%, 211.41% and 94.79% in the years ended December 31, 2024, 2023 and 2022,
respectively.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The following is a summary of the effects of the IAS 29 application:</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>2.2.1 Restatement of the Balance Sheet and simplifications
used</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">i) Monetary items (i.e., those having a fixed face value in
local currency) are not restated, as they are already expressed in terms of the measuring unit current at the end of the reporting year.
In an inflationary period, maintaining monetary assets generates purchasing power losses, and maintaining monetary liabilities generates
purchasing power gains, provided those items are not subject to an adjusting mechanism of offsetting those effects to some extent. The
monetary gain or loss is included in the income (loss) of the reporting year.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">ii) Assets and liabilities linked by specific agreements to
changes are adjusted in accordance with such agreements.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">iii) Non-monetary items carried at amounts current at the
end of the reporting year are not restated for presentation purposes in the Balance Sheet; however, the adjustment process must be completed
in order to determine, in terms of constant measuring unit, the income (loss) generated by carrying these non-monetary items.&#8195;</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Non-monetary items carried at historical cost or at amounts
current at dates before the end of the reporting period are restated by ratios reflecting the changes in the general price level from
the date of acquisition or revaluation to the closing date and then comparing the restated amounts of those assets with the relevant recoverable
amounts. Charges to income (loss) for the period due to consumption of non-monetary assets (depreciation, amortization, residual value
of derecognized assets, etc.) are determined based on the new restated amounts.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Restating non-monetary assets in terms of the measuring unit
current at the end of the reporting period without any equivalent adjustments for tax purposes gives rise to a taxable temporary difference
and to the recognition of a deferred tax liability, whose counterpart is recognized in the income (loss) for the fiscal year.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>2.2.2 Restatement of the Statement of Comprehensive Income
and simplifications used</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The most refined process of restating the statement of income
in the currency at year-end of the reporting year includes the following key aspects:</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 42.55pt; text-align: justify; text-indent: -21.25pt">i) Revenues and expenses
are adjusted from the date the transactions that generate them or from the relevant accrual date;</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 42.55pt; text-align: justify; text-indent: -21.25pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 42.5pt; text-align: justify; text-indent: -21.75pt">ii) The consumption of non-monetary
assets measured at current value at the time prior to consumption are adjusted from the moment of recognized consumption;</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 42.55pt; text-align: justify; text-indent: -21.25pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 42.55pt; text-align: justify; text-indent: -21.25pt">iii) Income (loss) items
reflecting or including, in their determination, the consumption of assets measured in a currency with purchasing power of a prior date
to the recognition of that consumption are adjusted based on the original date of the asset linked to the item;&#8195;</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 42.55pt; text-align: justify; text-indent: -21.25pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 42.55pt; text-align: justify; text-indent: -21.25pt">iv) The financial income
(loss) is presented in real terms, net of the effect of inflation on the assets and liabilities that generated that income (loss);</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 42.55pt; text-align: justify; text-indent: -21.25pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 42.55pt; text-align: justify; text-indent: -21.25pt">v) The income (loss) from
holding and others arising from comparing two measurements stated in a currency with purchasing power of different dates requires identifying
the compared amounts and restating them separately to make the comparison again with the amounts already restated; and</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0 0 0 42.55pt; text-align: justify; text-indent: -21.25pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 42.55pt; text-align: justify; text-indent: -21.25pt">vi) The income (loss) from
exposures to changes in the purchasing power of currency is presented on a separate line and reflects the effect of inflation on the monetary
items not used in determining the financial income (loss) in real terms.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0 0 0 42.55pt; text-align: justify; text-indent: -21.25pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The Group has chosen to determine and present the financial
income (loss) in nominal terms restated at closing currency, while complying with other aspects of the restatement process mentioned above.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>2.2.3 Restatement of the Statement of Changes in Equity
and simplifications used</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On the transition date (beginning of fiscal year 2019), as
a result of the simplification allowed by JG Resolution 539/18, reserved earnings were held at the date of the transition at face value
(non-restated legal amount), and the restated retained earnings were determined by the difference between the net assets restated at the
transition date and the remaining components of the initial equity stated as indicated below.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">All components of equity restated in the opening currency
of the fiscal year are translated into the currency at year-end by applying the general price index, and the variations in those components
are restated at closing currency as follows: for</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">contributions, from the date of subscription; for equity reclassifications
affecting retained earnings, from the closing date of the previous fiscal year if the Shareholders&#8217; Meeting considers the retained
earnings in currency of that date; however if the Shareholders&#8217; Meeting considers the retained earnings in a currency with purchasing
power of the date of the meeting, those movements shall be restated from the date in which that currency is stated; for reductions in
retained earnings due to equity modifications, from the date of the Shareholders&#8217; Meeting taking the decision, whereas deferred
income (loss) must be presented in real terms.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>2.2.4 Restatement of the Statement of Cash Flows and simplifications
used</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">All items in this statement are restated in terms of measuring
unit current at the end of the reporting year.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Income (loss) from exposure to changes in the purchasing power
of currency on cash and cash equivalents is presented in the statement of cash flows in section &#8220;Reasons for cash variations&#8221;
below operating, investing and financing activities, in a separate and independent line, under &#8220;Income (loss) from exposure to changes
in the purchasing power of currency from cash&#8221;.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The financial statements presented for comparative purposes
include reclassifications in order to align its comparative presentation to the classifications made as of December 31, 2024.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0 0 0 0.55in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">In preparing these financial statements, the Group has applied
the presentation basis, accounting policies, and relevant accounting estimates, judgments and assumptions described in sections 2.3 and
2.4 herein.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify"><B>2.3 Summary of material accounting policies</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The material accounting policies applied by the Group in preparing
their consolidated financial statements are detailed below.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>2.3.1 Revenue recognition</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Revenue is recognized to the extent that it is probable that
the economic benefits will flow to the Company and that revenue can be measured reliably, regardless of the timing of payment by the customer.
Revenue is measured at the fair value of the consideration received or receivable, considering the payment terms contractually defined
with the customer and excluding taxes and duties.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Revenue from sales of gas delivered includes the estimated
amounts of gas delivered to customers but not yet invoiced at each year-end.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman,serif; margin: 0; text-align: justify"><B>2.3.2 Current and deferred income tax</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The Group determines the current tax payable considering the
laws and provisions in force in Argentina. Additionally, the Group recognizes the income tax expense based on the deferred income tax
method, thereby recognizing temporary differences between the measurements of accounting and tax assets and liabilities.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">To determining the deferred assets and liabilities, the tax
rate expected to be in effect at the time of reversal or utilization has been applied to the temporary differences identified, taking
into account the legal standards enacted as of the date of issuance of these financial statements.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 6pt; text-align: justify">Temporary differences give rise to deferred income tax
assets and liabilities when their future reversal reduces or increases the determined taxes. When there are accumulated tax losses that
may reduce future taxable income or the deferred income tax resulting from the temporary differences is an asset, those credits are recognized
in the financial statements to the extent that the Group&#8217;s Management estimates their utilization to be probable. The realization
of deferred tax assets depends on the future generation of taxable profits in those years in which the temporary differences become deductible,
and the losses are absorbed.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">Furthermore, on June 16, 2021, Act 27630 was published
in the Official Gazette. That law includes the modification of the income tax rates applicable to entities with fiscal year-ends on or
after January 1, 2021. These amendments consist of the application of scaled tax rates based on the accumulated net profit (to be updated
by CPI on an annual basis) according to the following:</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 21.3pt; text-align: justify">-&nbsp;Up to 34,703.52 of accumulated taxable
net profits: a rate of 25%;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 35.45pt; text-align: justify; text-indent: -14.15pt">- Between 34,703.53
and 347,035.23 of accumulated taxable net profits: a fixed amount of 8,675.88 plus a rate of 30% on the excess over such amount;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 21.3pt; text-align: justify">- More than 347,035.23 of accumulated taxable
net profits: a fixed amount of 102,375.39 plus a rate of 35% over the excess of such amount.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify"><B>2.3.2.1 Equalization Taxes</B></P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">In accordance with Law No. 25,063, dividends distributed,
in cash or in kind, in excess of the accumulated taxable profits at the close of the fiscal year immediately preceding the payment or
distribution date, will be subject to a 35% income tax</P>


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<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">withholding as a lump sum and final payment. These
provisions will not apply to dividends or profits attributable to earnings accrued in fiscal years beginning on or after January 1, 2018,
as provided by the Tax Reform.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">AFIP RG No. 5,060, published in the Official Gazette
on August 30, 2021, adjusted the regulation regarding the procedure and determination of income tax withholdings applicable to dividends,
effective August 30, 2021; Therefore, the amount to be withheld will be determined by applying the 7% rate to the aforementioned dividends
and profits generated in the periods beginning on or after January 1, 2018.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify"><B>2.3.2.2 Sales-related taxes</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">Revenue, expenses incurred, and assets acquired
are recognized excluding the amount of any sales-related tax (e.g., value-added tax), except:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">-</TD><TD STYLE="text-align: justify; padding-right: 8.5pt">When the sales-related tax incurred on an asset acquisition or the provision of
services is not recoverable from the taxing authority, in which case thar tax is recognized as part of the asset acquisition cost or as
part of the expense, as appropriate,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">-</TD><TD STYLE="text-align: justify; padding-right: 8.5pt">Accounts receivable and payable, which are already expressed including the amount
of sales-related tax.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">The net amount of sales-related tax expected to
be recovered from, or payable to, the taxing authority is presented as a receivable or a payable in the statement of financial position,
as appropriate.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify"><B>2.3.3 Property, plant, and equipment</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">Property, plant, and equipment are measured at acquisition
costs according to the criteria established in Note 2.2.1, net of accumulated depreciation and/or accumulated losses, if any. This acquisition
or production cost includes all significant costs necessary to bring such assets into usable condition, including financing costs related
to construction works that were extended over time, if any.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">For significant items or property, plant, and equipment
that must be replaced parodically, the Group derecognizes the replaced item and recognizes the new item with its corresponding useful
life and depreciation. All other routine repair and maintenance costs are recognized as an expense in the income statement as incurred.
A piece of property, plant, and equipment, or any significant part thereof, initially recognized is derecognized upon sale or when no
future economic benefits are expected to be obtained from its use or sale. Any resulting gain or loss upon derecognition of the asset
(calculated as the difference between the net proceeds from the sale and the asset&#8217;s carrying amount) is included in the income
statement upon derecognition.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">The residual values, useful lives, and depreciation
methods and rates of assets are reviewed at each year-end date and adjusted prospectively, if appropriate.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">Depreciation is calculated on a straight-line basis
over the maximum useful lives mentioned below:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 78%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 20%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>ITEM</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>USEFUL LIFE IN YEARS</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">BUILDINGS AND CIVIL WORKS</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">50</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">BUILDINGS INSTALLATIONS</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">25</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">GAS PIPELINES</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">45</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">HIGH-PRESSURE PIPELINE BRANCHES</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">45</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">MEDIUM AND LOW-PRESSURE PIPELINES AND NETWORKS</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">42-45</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">(1)</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">COMPRESSOR STATIONS</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">30</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">PRESSURE REGULATION AND MEASURING STATION</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">25</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">CONSUMPTION MEASURING STATION</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">20</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">OTHER TECHNICAL INSTALLATIONS</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">15</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">MACHINES, EQUIPMENT AND TOOLS</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">10</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">IT AND TELECOMMUNICATION SYSTEMS</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">3-5-10-15</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">(2)</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">VEHICLES</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">5-10</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">(3)</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">FURNITURE AND FIXTURES</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">10</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">(1) Steel: 42 years, Polyethylene: 45 years</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0">(2) Software: 3 years, Hardware: 5 years, Scada:10 years, Telecommunications systems
    15 years.</P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0">(3) Light: 5 years, Heavy: 10 years</P></TD>
    </TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">The value of incorporating into the equity of the
distribution systems (approach branches, regulation and metering stations, distribution networks, etc.), which were built and transferred
by third parties for the purpose of obtaining connection to the system, the operation and maintenance of which is the responsibility of
the Company, arises from the economic evaluation of their operation. According to the regulatory framework, the Group is not obligated
to provide the service if it proves uneconomical and must report on the calculation and amount of the investment that the applicant must
provide to make the gas supply economically viable. The economic evaluation also serves as the basis for determining the consideration
payable</P>


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<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">to users, which is expressed in cubic meters of
gas to be discounted to customers eligible to join the transferred networks within the established period. This discount is recorded as
a provision (Discounts to be granted to customers).</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">In relation to the issue, ENARGAS issued Resolution
No. I/910 on October 9, 2009, repealing Resolutions No. 10/1993 and 44/1994 and defining a methodology for conducting the economic evaluation
of projects. It establishes that the contribution to be made by the Licensee must be at least equivalent to the value of the business
generated by the incorporation of said project.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">The value of the distribution system additions during
the fiscal years ending December 31, 2024, and 2023, under the conditions described above, amounts to 992,298 and 1,011,375, respectively.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify"><B>2.3.4 Intangible Assets</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">Intangible assets acquired separately are initially
measured at cost. After initial recognition, intangible assets are carried at restated cost according to the criteria established in Note
2.2.1, less accumulated amortization (where finite useful lives are assigned) and any accumulated impairment losses, if any.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">Intangible assets generated internally are not capitalized,
and the respective expenditure is reflected in the income statement in the period in which the expenditure is incurred. The useful lives
of intangible assets can be finite or indefinite.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">Intangible assets with finite useful lives are amortized
over their useful economic lives and are reviewed for impairment to the extent that there is any indication that the intangible asset
may have suffered such impairment. The amortization period and method for intangible assets with a finite useful life are reviewed at
least at the end of each reporting period. Changes in the expected useful life or expected consumption pattern of the asset are accounted
for by changing the amortization period or method, as appropriate, and are treated prospectively as changes in accounting estimates. Amortization
expense for intangible assets with finite useful lives is recognized in the income statement in the expense category most consistent with
the intangible asset's function.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">Gains or losses arising from the derecognition of
an intangible asset are measured as the difference between the net proceeds from the sale and the asset's carrying amount and are recognized
in the income statement upon derecognition of the asset.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>2.3.5 Financial instruments: Presentation, recognition
and measurement</B></P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>2.3.5.1. Financial assets</B></P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>Initial recognition and subsequent measurement</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The financial assets within the scope of IFRS 9 are classified
as follows: as financial assets at fair value through income (loss), loans and receivables, investments held until maturity, available-for-sale
financial investments, as applicable. The Group determines the classification of the financial assets at initial recognition.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">All financial assets are initially recognized at their fair
value, plus, in the case of financial assets not carried at fair value with changes in income (loss), the transaction costs are directly
attributable.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><U>- Financial assets at fair value with changes in income
(loss)</U></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Financial assets at fair value with changes in income (loss)
include financial assets held for trading and financial assets designated at initial recognition as at fair value with changes in income
(loss). Financial assets are classified as held for trading if they are acquired with the purpose of selling or repurchasing them in the
near future. Any profit or loss arising from changes in the fair values is directly recognized in the statement of comprehensive income.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">At initial recognition, the Group designated the financial
assets as at fair value with changes in income (loss), including government bonds, derivatives and mutual funds.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The Group assesses the non-derivative financial assets held
for trading to determine whether their intention to sell them in the short term is still appropriate. When the Group is unable to trade
these financial assets due to the existence of inactive markets and, therefore, significantly changes its intention to trade them in the
near future, it may choose to reclassify them, but only in exceptional circumstances. The reclassification of a financial asset designated
as loan and receivable into a financial asset available for sale or held until maturity depends on the nature of the asset. This assessment
does not affect any financial asset designated as at fair value with changes in income (loss) using the option of measurement at fair
value at the time of designation.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The Group has a documented investment policy aimed at managing
and assessing these financial assets, in order to provide more relevant internal information to the Group's key management personnel.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><U>- Loans and receivables</U></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Loans and receivables are non-derivative financial assets
with fixed or determinable payments, not traded in an active market. After initial recognition, these financial assets are measured at
amortized cost using the effective interest method, less any impairment in value. The amortized cost is calculated based on any discount
or premium in the acquisition, and commissions and costs are an integral part of the effective interest rate. The amortization of the
effective interest rate is recognized in the statement of income as financial profit or loss. Losses arising from an impairment in the
value of the asset are recognized in the statement of income as financial cost, if applicable.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><U>- Available-for-sale financial investments</U></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Available-for-sale financial investments include those financial
assets that do not fall within the categories above.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">After initial recognition, available-for-sale financial investments
are measured at fair value, and unrealized gains or losses are recognized as other comprehensive income in the reserve for financial assets
classified as available for sale until the investment is derecognized. Upon derecognition, the cumulative gain or loss is recognized as
financial income or expense, or considered as an impairment in the value of the investment. In this case, the cumulative loss is reclassified
to the statement of income as a financial expense and derecognized from the respective reserve. Interest earned from investments in available-for-sale
debt securities are calculated using an effective interest method and recognized as financial income in the statement of income.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">When the Group is unable to trade these financial assets due
to the existence of inactive markets and, therefore, significantly changes its intention of selling them, the Group may choose to reclassify
these financial assets, but only in exceptional circumstances. The reclassification as loans and receivables is allowed when the financial
assets meet the conditions and the definitions of loans and receivables are included in IFRS 9, and the Group has the express intention
and ability to hold these assets in the near future or until maturity. The reclassification as assets held until maturity is allowed only
when the Group has the ability and express intention to hold these assets until maturity.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">When a financial asset is reclassified in a category other
than available-for-sale, any prior gain or loss related to that asset recognized in equity is amortized into income (loss) over the remaining
term, using the effective interest method. Any difference between the new amortized cost and the expected cash flow is also amortized
over the remaining term of the investment, using the effective interest method. If later the asset is determined to be impaired, the amount
recognized in equity is reclassified to the statement of income as financial costs.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>Derecognition</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">A financial asset (or, if applicable, a part of a financial
asset or a part of a group of similar financial assets) is derecognized when:</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">1) The contractual rights to receive the cash flows from the
asset have expired.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">2) The contractual rights to the cash flows of the financial
asset have been transferred, or an obligation to pay all those cash flows to a third party without significant delay has been assumed
through a transfer agreement, and (a) the entity has transferred substantially all the risks and rewards of ownership of the asset; or
(b) the entity neither transfers nor retains substantially all the risks and rewards of ownership of the asset, but has transferred the
control over the asset.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">When the contractual rights to receive the cash flows of the
asset have been transferred, or a transfer agreement has been entered into, but the entity has neither transferred nor retained substantially
all the risks and rewards of ownership of the asset, and the entity has not transfer control over the asset, it will continue to recognize
the asset to the extent of its continuing involvement in the financial asset. In this latter case, the Group will also recognize the associated
liability. The transferred asset and the associated liability will be measured on a basis that reflects the rights and obligations that
the Group has retained. If the Group&#8217;s involvement takes the form of guaranteeing the transferred asset, the involvement is measured
as the lower of the original book value of the asset, and the maximum amount of the consideration that the Group would be required to
repay.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>Financial assets impairment</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">At the end of each reporting year, the Group evaluates if
there is any objective evidence that a financial asset or a group of financial assets is impaired. A financial asset or a group of financial
assets is deemed impaired only if there is objective evidence of impairment resulting from one or more events occurring after the asset's
initial recognition (the &#8220;event causing the loss&#8221;), and such event has an impact on the estimated future cash flows of the
financial asset or the group of financial assets, and that impact can be reliably estimated.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Evidence of impairment exists when observable data reflects
a measurable decrease in the estimated future cash flow, such as delays in the collection of receivables, or in the economic conditions
that are correlated with defaults.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">For the financial assets measured at amortized cost, the Group
first assesses whether there is objective evidence of impairment, individually for financial assets that are individually significant,
and collectively for those that are not. If the Group determines that there is no objective evidence of impairment for an individually
assessed financial asset, regardless of its significance, it includes that asset in a group of financial assets with similar credit risk
characteristics and assesses them collectively to determine impairment exists. Assets that are individually assessed to determine whether
impairment exists, and for which an impairment loss is recognized or continues to be recognized, are not included in the collective assessment.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">If there is objective evidence of impairment loss, the amount
of the loss is measured as the difference between the book value of the asset and the present value of the estimated future cash flows
(excluding expected future credit losses that have not yet occurred). The present value of estimated future cash flows is discounted using
the original effective interest rate of the financial assets.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The book value of the asset is reduced through a provision
account, and the amount of the loss is recognized in the statement of income. The interest earned continues to accrue on the reduced book
value of the asset, using the interest rate applied to discount the future cash flows when measuring the impairment loss. The interest
earned is recognized as financial income in the statement of income.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">If in a subsequent year, the impairment loss estimated amount
increases or decreases due to an event occurring after the impairment was recognized, the impairment loss previously recognized is increased
or reduced by adjusting the provision account. If a previously recognized loss is later recovered, the recovery is credited as a financial
cost in the statement of income.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">For the available-for-sale financial investments, at the end
of the reporting year, the Group evaluates whether there is objective evidence of impairment of an investment or group of investments.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Impairment is assessed and recognized based on the same criteria
used for the financial assets carried at amortized cost. The impairment amount recognized is the cumulative loss measured as the difference
between the amortized cost and the current fair value, less any impairment loss previously recognized in the statement of income.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The future interest earned continues to accrue based on the
reduced book value of the asset, applying the interest rate used to discount the future cash flows when measuring the impairment loss.
The interest earned is recognized as financial income in the statement of income. If in a subsequent year, the fair value of a debt security
increases, and such increase can objectively be associated with an event occurring after the impairment loss was recognized in the statement
of comprehensive income, that impairment loss is reversed through the statement of comprehensive income.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>2.3.5.2 Financial liabilities</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>Initial recognition and subsequent measurement</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The financial liabilities within the scope of IFRS 9 are classified
as financial liabilities at fair value with changes in income (loss), loans and payables, or as derivatives designated as hedging instruments
in an effective hedge, as applicable. The Group classifies financial liabilities at initial recognition.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">All financial liabilities are initially recognized at their
fair value, plus, in the case of payables carried at amortized cost, the transaction costs are directly attributable.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The Group's financial liabilities include trade payables and
other payables.</P>

<P STYLE="font: 7pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><U>Financial liabilities at fair value with changes in income
(loss)</U></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Financial liabilities at fair value with changes in income
(loss) include financial liabilities held for trading, and financial liabilities designated at initial recognition as at fair value with
changes in income (loss).</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Financial liabilities are classified as held for trading if
they are acquired with the purpose of trading them in the near future. Gains or losses on liabilities held for trading are recognized
in the statement of income.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">At initial recognition, the Group did not designate any financial
liabilities as at fair value with changes in income (loss).</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><U>Loans and payables</U></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">After initial recognition, these liabilities are measured
at amortized cost using the effective interest method. Gains and losses are recognized in the statements of income when the liabilities
are derecognized, as well as through the amortization process using the effective interest method.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The amortized cost is calculated based on any discount or
premium in the acquisition and the commissions or costs that are an integral part of the effective interest rate. The amortization of
the effective interest rate is recognized in the statement of income as a financial cost.</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>Derecognition</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">A financial liability is derecognized when the obligation
specified in the corresponding agreement is repaid, settled, or expired.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">When an existing financial liability is replaced by another
liability from the same creditor under substantially different terms, or if the terms of an existing liability are substantially modified,
such an exchange or modification is accounted for as a derecognition of the original liability and the recognition of a new liability.
The difference between the respective book values is recognized in the statement of income.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>2.3.5.3 Offsetting of financial instruments</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Financial assets and financial liabilities are offset in a
way that the net amount is reported in the balance sheet, only if the Group (i) has the current legally enforceable right to offset the
amounts recognized; and (ii) intends to settle them by the net amount, or to simultaneously realize the assets and repay the liabilities.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>2.3.5.4 Financial assets and financial liabilities with
related parties</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Receivables from and payables to related parties are initially
recognized at their fair value plus the directly attributable transaction costs. There are no transactions that were not entered into
on an arm&#8217;s length basis.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">After initial recognition, these receivables and payables
are measured at amortized cost using the effective interest method. The amortization of the interest rate is recognized in the statement
of income as financial income or costs, or as other operating income or costs, depending on the nature of the underlying asset or liability.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>2.3.5.5 Foreign currency translation</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>Foreign currency transactions and balances</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Foreign currency transactions are initially recognized by
the Group in ARS at the exchange rates of the respective currencies on the date of the transaction.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Monetary assets and liabilities denominated in a foreign currency
are translated into the functional currency using the closing exchange rate prevailing on the closing date of the reporting fiscal year.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">All exchange differences are recognized in the statement of
income under other operating income or expenses, or under financial income or costs, depending on the nature of the underlying asset or
liability.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The Group&#8217;s assets and liabilities in foreign currency
are detailed below:</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="width: 42%; border: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>Item</B></FONT></TD>
    <TD STYLE="width: 5%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 14%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>Amount</B></FONT></TD>
    <TD STYLE="width: 9%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>Exchange rate</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>Amount in ARS</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 15%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>Amount in ARS</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt">
    <P STYLE="font: 7pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 7.1pt; font-family: Times New Roman,serif; text-indent: -7.1pt"><FONT STYLE="font-size: 7pt"><B>ASSETS</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 7.1pt; font-family: Times New Roman,serif; text-indent: -7.1pt"><FONT STYLE="font-size: 7pt"><B>Current Assets</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Cash and cash equivalents</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">USD</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">408</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">1,029</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">420,225</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;9,416,695 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Trade receivables and other receivables</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">USD</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">1,029</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;701,480 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Transactions on behalf of third parties</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">USD</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">4,786</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">1,029</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;4,924,314 </FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;11,525,120 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Other financial assets</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">USD</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">41,417</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">1,029</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;42,618,543 </FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;59,956,261 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Other non-financial assets</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">USD</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">1,029</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;3,008,717 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border: black 1pt solid; padding-right: 3.55pt; padding-left: 7.1pt; font-family: Times New Roman,serif; text-indent: -7.1pt"><FONT STYLE="font-size: 7pt"><B>Total Assets</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>USD</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>46,611</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>47,963,082</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>84,608,273</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 7.1pt; font-family: Times New Roman,serif; text-indent: -7.1pt"><FONT STYLE="font-size: 7pt"><B>LIABILITIES</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 7.1pt; font-family: Times New Roman,serif; text-indent: -7.1pt"><FONT STYLE="font-size: 7pt"><B>Current liabilities</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Trade payables and other payables</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">USD</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,381</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">1,032</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,425,193 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">81,601 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Transactions on behalf of third parties</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">USD</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,239 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">1,032</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,311,147 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">6,322,206 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border: black 1pt solid; padding-right: 3.55pt; padding-left: 7.1pt; font-family: Times New Roman,serif; text-indent: -7.1pt"><FONT STYLE="font-size: 7pt"><B>Total Liabilities</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>USD</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,620 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,736,340 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>6,403,807 </B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 7.1pt; font-family: Times New Roman,serif; text-indent: -7.1pt"><FONT STYLE="font-size: 7pt"><B>Net position</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>USD</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42,991 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44,226,742 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>78,204,466 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">USD: United States Dollars</P>

<P STYLE="font: 6pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify"><B>2.3.6 Foreign Currency Translation</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">Foreign currency transactions are initially recorded
by the Group in Argentine pesos at the exchange rates of their respective currencies on the transaction date.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">Monetary assets and liabilities denominated in foreign
currencies are translated into the functional currency at the closing exchange rate in effect at the reporting period end date.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">All exchange differences are charged to the income
statement under other operating income or expenses, or under financial income or costs, depending on the nature of the asse or liability
that generates them.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify"><B>2.3.7 Inventories</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">Inventories are valued at the lower of cost or net
realizable value.</P>


<!-- Field: Page; Sequence: 26 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR><TR><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: center">&nbsp;F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">Net realizable value is the estimated selling price
in the normal course of business, less the estimated costs necessary to complete the sale.</P>

<P STYLE="font: 6pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify"><B>2.3.8 Cash and cash equivalents</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">Cash includes cash on hand and freely available
bank deposits that can be called on demand. Cash equivalents include freely available, short-term, highly liquid investments that, with
no prior notice or significant cost, are readily convertible into a known amount of cash, with a high level of certainty at the time of
placement, subject to an insignificant risk of changes in value, with maturity dates of three months or less from their respective placement
dates, and whose primary purpose is not investment or similar, but the settlement of short-term obligations.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">To present the balance sheet, cash and cash equivalents
include cash on hand and at banks, as well as the short-term placements that meet the conditions described above.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Cash and cash equivalents as of the various dates are broken
down below:</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 19%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 20%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt">Cash on hand and banks</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">2,165,169 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">10,180,323 </FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt">Mutual Funds</FONT> <FONT STYLE="font-size: 7pt">(*)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">30,730,734 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">- </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt"><B>Cash and cash equivalents at year-end</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32,895,903 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10,180,323 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7pt Times New Roman,serif; margin: 0 31.05pt 0 0; text-align: justify">(*) It relates to mutual funds that, due to their
low risk and high liquidity, qualify as cash equivalents.</P>

<P STYLE="font: 7pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 31.05pt 0 0; text-align: justify"><B>2.3.9 Business segment information as per IFRS</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The economic Group comprises four business units, each of
which constitutes a segment: Transportation and distribution of natural gas, marketing of compressed natural gas (CNG), and other activities.
A general description of each segment is presented below:</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>Transportation and distribution of natural gas through
networks:</B> it includes the operating income from the provision of the public service of distributing natural gas through networks of
pipelines in the Central and Cuyo regions.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>Marketing of compressed natural gas (CNG):</B> it includes
the operating income generated from operation and commercial exploitation of compressed natural gas fueling stations, supply plants and
filling stations, whether for the supply to private vehicles, public and/or private transport, and/or heavy vehicles in general, as well
as the import, purchase and sale of oils, lubricants, bases and additives used in vehicles and machinery in general, as well as the fuel
import for domestic consumption.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>Other products and services:</B> it includes the design,
manufacturing, import, assembly, and maintenance of any types of facilities, machinery and goods in general, linked and/or related to
the transportation, marketing, and distribution of gas in all its forms, as well as the design, construction, and operation of civil and/or
technical works for compressed natural gas fueling stations, supply plants, and filling stations.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>Information by segments as of December 31, 2024:</B></P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: top; width: 31%; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 1%; padding-right: -5.55pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Transportation and distribution of natural gas</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Marketing of comprised natural gas (CNG)</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Other activities</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Total Segments</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; padding-right: -7.9pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Adjustments and derecognitions</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Consolidated</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 0.05in; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Income from ordinary activities</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -12.6pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;477,430,799 </FONT></TD>
    <TD STYLE="padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;11,109,331 </FONT></TD>
    <TD STYLE="padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;539,788 </FONT></TD>
    <TD STYLE="padding-right: 2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;489,079,918 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(197,240) </FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;488,882,678 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: -0.2in; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 6pt">Cost of sales </FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(314,179,954) </FONT></TD>
    <TD STYLE="padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(337,266) </FONT></TD>
    <TD STYLE="padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(404,987) </FONT></TD>
    <TD STYLE="padding-right: 2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(314,922,207) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;197,240 </FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(314,724,967) </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: -0.2in; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 6pt">Administrative expenses </FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(18,488,537) </FONT></TD>
    <TD STYLE="padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(2,565,462) </FONT></TD>
    <TD STYLE="padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(318,270) </FONT></TD>
    <TD STYLE="padding-right: 2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(21,372,269) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;124,675 </FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(21,247,594) </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: -0.2in; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 6pt">Selling expenses </FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(51,547,882) </FONT></TD>
    <TD STYLE="padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(973,810) </FONT></TD>
    <TD STYLE="padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(11,977) </FONT></TD>
    <TD STYLE="padding-right: 2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(52,533,669) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(52,533,669) </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: -0.2in; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 6pt">Other operating income</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;6,337,250 </FONT></TD>
    <TD STYLE="padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;981,823 </FONT></TD>
    <TD STYLE="padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;5,201 </FONT></TD>
    <TD STYLE="padding-right: 2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;7,324,274 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(124,675) </FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;7,199,599 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: -0.2in; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 6pt">Other operating expenses</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(4,025,479) </FONT></TD>
    <TD STYLE="padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(517,360) </FONT></TD>
    <TD STYLE="padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(4,542,839) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(4,542,839) </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: -0.2in; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 6pt"><B>Operating income</B></FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;95,526,197 </B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;7,697,256 </B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;(190,245) </B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;103,033,208 </B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;- </B></FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;103,033,208 </B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 6pt">Other (loss) income</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(58,335,675) </FONT></TD>
    <TD STYLE="padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(5,183,921) </FONT></TD>
    <TD STYLE="padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;23,694,603 </FONT></TD>
    <TD STYLE="padding-right: 2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(39,824,993) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(22,255,487) </FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(62,080,480) </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 2pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 6pt"><B>Net income (loss) for the segment</B></FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;37,190,522 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;2,513,335 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;23,504,358 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;63,208,215 </B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;(22,255,487) </B></FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;40,952,728 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>



<!-- Field: Page; Sequence: 27 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR><TR><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: center">&nbsp;F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 100%">&nbsp;<IMG SRC="cepu202506196k_001.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center"><P STYLE="font: 12pt Cambria,serif; margin: 0; text-align: center; border-bottom: #BFBFBF 0.5pt solid"><B>ECOGAS INVERSIONES S.A.</B></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>Information by segments as of December 31, 2023<FONT STYLE="font-size: 8pt"><SUP>*</SUP></FONT>:
</B></P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: top; width: 31%; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 1%; padding-right: -5.55pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Transportation and distribution of natural gas</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Marketing of comprised natural gas (CNG)</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Other activities</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Total Segments</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; padding-right: -7.9pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Adjustments and derecognitions</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Consolidated</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 0.05in; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Income from ordinary activities</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -12.6pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;300,053,170 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;13,139,135 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;5,359,789 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;318,552,094 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(282,485) </FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;318,269,609 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: -0.2in; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 6pt">Cost of sales </FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(258,625,191) </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(37,544) </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(78,378) </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(258,741,113) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;282,485 </FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(258,458,628) </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: -0.2in; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 6pt">Administrative expenses </FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(26,168,400) </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(1,960,372) </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(2,625,736) </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(30,754,508) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(30,754,508) </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: -0.2in; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 6pt">Selling expenses </FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(35,141,231) </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(1,224,971) </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(428,935) </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(36,795,137) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(36,795,137) </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: -0.2in; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 6pt">Other operating income</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;10,944,577 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;2,880,387 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;41,832 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;13,866,796 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;13,866,796 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: -0.2in; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 6pt">Other operating expenses</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(2,186,192) </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(1,680,396) </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(3,866,588) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(3,866,588) </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: -0.2in; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 6pt"><B>Operating income</B></FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;(11,123,267) </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;11,116,239 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;2,268,572 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;2,261,544 </B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;- </B></FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;2,261,544 </B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 6pt">Other income (loss)</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;34,424,887 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(6,351,306) </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;17,537,997 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;45,611,578 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(18,428,774) </FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;27,182,804 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 2pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 6pt"><B>Net income (loss) for the segment</B></FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;23,301,620 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;4,764,933 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;19,806,569 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;47,873,122 </B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;(18,428,774) </B></FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;29,444,348 </B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 2pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: justify">*Unaudited</P>

<P STYLE="font: 7pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>Information by segments as of December 31, 2022<FONT STYLE="font-size: 8pt"><SUP>*</SUP></FONT>:
</B></P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: top; width: 31%; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 1%; padding-right: -5.55pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Transportation and distribution of natural gas</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Marketing of comprised natural gas (CNG)</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Other activities</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Total Segments</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; padding-right: -7.9pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Adjustments and derecognitions</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Consolidated</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 0.05in; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Income from ordinary activities</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -12.6pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">354,757,625</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">10,148,647</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">7,463,222</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">372,369,494</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(297,289)</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">372,072,205</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: -0.2in; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 6pt">Cost of sales </FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(287,246,004)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(22,374)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(2,047,631)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(289,316,009)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">297,289</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(289,018,720)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: -0.2in; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 6pt">Administrative expenses </FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(24,098,055)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(1,867,143)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(3,001,425)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(28,966,623)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(28,966,623)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: -0.2in; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 6pt">Selling expenses </FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(38,512,579)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(988,288)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(788,060)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(40,288,927)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(40,288,927)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: -0.2in; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 6pt">Other operating income</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">9,541,086</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">1,184,993</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">100,129</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">10,826,208</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">10,826,208</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: -0.2in; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 6pt">Other operating expenses</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(3,194,620)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(1,142,098)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(4,336,718)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(4,336,718)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: -0.2in; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 6pt"><B>Operating income</B></FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>11,247,453</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>7,313,737</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>1,726,235</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>20,287,425</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;- </B></FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>20,287,425</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 6pt">Other (loss) income </FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(24,097,956)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(4,266,010)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(5,796,729)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(34,160,695)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">4,465,948</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">(29,694,747)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 2pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 6pt"><B>Net (loss) income for the segment</B></FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>(12,850,503)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>3,047,727</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>(4,070,494)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>(13,873,270)</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>4,465,948</B></FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>(9,407,322)</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 0.05in; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 0.05in; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -5.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6.2pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.35pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: justify">*Unaudited</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 31.05pt 0 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 31.05pt 0 0; text-align: justify"><B>2.3.10 Provisions, contingent liabilities,
and contingent assets</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 49.65pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>2.3.10.1 Provisions</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 49.65pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>Recognition and measurement</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Provisions are recognized when (i) there is a present obligation
(whether legal or constructive) resulting from a past event; (ii) it is probable that an outflow involving economic benefits will be required
to settle the obligation; and (iii) a reliable estimate of the amount can be made.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">When the provision is expected to be reimbursed in whole or
in part, for example, under an insurance contract, the reimbursement is recognized as a separate asset only when it is virtually certain.
The expense for any provision is disclosed in the statement of income under the item that best reflects the nature of the provision, net
of any related reimbursement, to the extent that such reimbursement is virtually certain.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">If the effect of the time value of money is significant, provisions
are discounted using a pre-tax current market rate that reflects, when applicable, the specific risks of the liability.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">When the discount is recognized, the increase in the provision
due to the passage of time is recognized as financial costs in the statements of income.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>2.3.10.2 Contingent liabilities</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 49.65pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">A contingent liability is: (i) a possible obligation arising
from past events, the existence of which is to be confirmed only by the occurrence, or non-occurrence, of one or more uncertain future
events not wholly within the control of the Group; or (ii) a present obligation arising from past events, which has not been accounted
for because: (a) it is not probable that an outflow involving economic benefits will be required to settle the obligation; or (b) the
amount of the obligation cannot be measured with sufficient reliability.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">A contingent liability is not recognized in the financial
statements, but is instead reported in the notes, unless the possibility of a potential outflow to settle the obligation is remote. For
each type of contingent liability at the closing of the reporting periods, the Group discloses (i) a brief description of its nature and,
when feasible, (ii) an estimate of its financial effects; (iii) an indication of the uncertainties related to the amount or timing of
the corresponding outflows; and (iv) the possibility to receive potential reimbursements.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>2.3.10.3 Contingent assets</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 49.65pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">A contingent asset is an asset of possible nature arising
from past events, the existence of which is to be confirmed only by the occurrence, or non-occurrence, of one or more uncertain future
events, not wholly within the control of the Group.</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">A contingent asset is not recognized in the financial statements,
but is instead reported in the notes, only when the inflow of economic benefits is probable. For each type of contingent asset at the
end of the reporting fiscal years, the Group discloses (i) a brief description of its nature and, when feasible, (ii) an estimate of its
financial effects.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 49.65pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">As per IAS 37, the Group&acute;s policy is not to disclose
detailed information about disputes with third parties related to situations involving provisions, contingent liabilities and contingent
assets, to the extent that such information seriously harms the Group's position. In such cases, the Group provides information of general
nature and explains the reasons behind that decision.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>2.3.11 Fair value</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 49.65pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Fair value is defined as the price that would be received
to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 49.65pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Fair value measurement assumes that the transaction to sell
the asset or transfer the liability takes place either:</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">-</TD><TD STYLE="text-align: justify">in the principal market of the asset or liability; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">-</TD><TD STYLE="text-align: justify">in the absence of a principal market, in the most advantageous market for the asset or liability.</TD></TR></TABLE>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The entity must have access to the principal or most advantageous
market.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 49.65pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The fair value of an asset or liability is measured using
the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their
economic best interest.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 49.65pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The Group uses the valuation techniques that are most appropriate
in the circumstances and for which sufficient data is available to measure fair value, maximizing the use of relevant observable inputs
and minimizing the use of unobservable inputs.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 49.65pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">All assets and liabilities for which fair value is measured
or disclosed in the financial statements are categorized within the fair value hierarchy, as described below, based on the lowest level
input that is significant to the entire fair value measurement:</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 81.8pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">-</TD><TD STYLE="text-align: justify">Level 1 inputs: Quoted prices (unadjusted) in active markets for identical assets or liabilities.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">-</TD><TD STYLE="text-align: justify">Level 2 inputs: Valuation techniques for which inputs are different from the quoted prices included in
Level 1, but are observable for the asset or liability, directly or indirectly.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">-</TD><TD STYLE="text-align: justify">Level 3 inputs: Valuation techniques for which inputs are unobservable for the asset or liability.</TD></TR></TABLE>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">For assets and liabilities recognized on a recurring basis
in the financial statements, at the end of the reporting fiscal year, the Group determines whether there have been transfers between the
levels of the fair value hierarchy, by reassessing their category, taking into account the lowest level input that is significant to the
entire fair value measurement.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>2.3.12 Non-financial assets impairment</B></P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">At the end of the reporting fiscal year, the Company assesses
whether there is any indication that a non-financial asset may be impaired. If any such indication exists, or when the annual impairment
testing for an asset is required, the Company estimates the recoverable amount of the asset. The recoverable amount of the asset is the
higher of its fair value less costs of sales of the asset and its value in use. This recoverable amount is determined using the cash flows
of the group of assets comprising the cash-generating units to which they belong.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">When the book value of the cash-generating unit exceeds its
recoverable amount, it is deemed impaired and its value is reduced to its recoverable amount.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">When assessing the value in use of a cash-generating unit,
the estimated cash flows are discounted at their present value using a pre-tax discount rate that reflects current market assessments
of the time value of money, and the risks specific to the cash-generating unit.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Based on the way the Company&#8217;s Management operates and
monitors the business as a whole, and how it makes decisions regarding the retention or disposal of physical assets, the Company considers
it has a single cash-generating unit for the purposes of testing property, plant and equipment for impairment.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The Company bases its impairment calculation on detailed budgets
and projections calculations prepared for the Company&#8217;s cash-generating unit.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">In the event of impairment losses related to continuing operations,
including inventory impairment, they are recognized in the statement of income under the expense categories corresponding to the function
of the impaired asset.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">A previously recognized impairment loss is only reversed if
there has been a change in the assumptions used to determine the recoverable amount of the cash-generating unit, since the last time an
impairment loss of the cash-generating unit was recognized.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>2.3.13 Investment in Associates</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The Group's investment in its associates is accounted for
using the equity method. An associate is an entity over which the Group has significant influence. Significant influence refers to the
power to intervene in the financial and operating policy decisions of the entity receiving the investment, but without having control
or joint control over it.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Under the equity method, investments in associates are initially
recorded in the statement of financial position at cost, plus (less) changes in the Group's interest in the net assets of the associates
after the acquisition date. If any, goodwill related to associates is included in the carrying amount of the investment and is neither
amortized nor individually tested for impairment. If the cost of the investment is lower than the proportionate interest at the acquisition
date in the fair value of the associate's assets and liabilities, a gain is recognized in the year in which the investment was made.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The income statement reflects the equity in the results of
operations of associates adjusted based on the estimated fair values &#8203;&#8203;at the date of incorporation of the investment. If
there are changes recognized directly in the equity of the associates, the Company recognizes its share of any such changes and presents
them, as appropriate, in the statement of changes in equity.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The equity in the profits of associates is presented as a
single line item on the face of the income statement. This share includes the results net of taxes of the associates.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The financial information of the associates is prepared for
the same reporting period as that of the Company. If necessary, adjustments are made to align the accounting policies of the associates
with those of the Group.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">After applying the equity method, the Group determines whether
it is necessary to recognize additional impairment losses with respect to the Company's investment in its associates. At each reporting
period end date, the Company determines whether there is objective evidence that the value of the investment in the associates has been
impaired. If this is the case, the Company calculates the impairment amount as the difference between the recoverable amount of the investment
in associates and its carrying amount and recognizes this amount in the &quot;Share of net income of associates&quot; line item in the
income statement.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The Group measures and recognizes any residual investment
held in the associate at its fair value. If this is the case, any difference between the carrying amount of the investment in the associate
and the fair value of the retained residual investment, and the proceeds from its sale, are recognized in profit or loss.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 31.05pt 0 0; text-align: justify"><B>2.4 Significant accounting estimates, judgments,
and assumptions</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The preparation of these consolidated financial statements
under the IFRS requires Management to make significant judgments, estimates and assumptions that affect the reported amounts of assets
and liabilities, revenues and expenses, as well as the determination and disclosure of contingent assets and liabilities at the end of
the reporting fiscal year. To this effect, the uncertainties associated with the estimates and assumptions adopted may give rise, in the
future, to outcomes that could differ from those estimates. Additionally, significant adjustments to the recorded amounts of the assets
and liabilities affected may be necessary.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The Group has made their significant accounting estimates
and assumptions based on parameters available when preparing these financial statements. However, current circumstances and assumptions
about future events could vary due to market changes or circumstances beyond the Group&#8217;s control. Those changes are reflected in
the assumptions when they occur.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The preparation of these financial statements at year end
requires the Group to make estimates and assessments affecting the recorded amounts of assets and liabilities, and the contingent assets
and liabilities disclosed at that date, as well as the reported amounts of revenues and expenses during the period. These are used in
cases such as the determination of provisions for bad debts and contingencies, as well as the recognition of revenue for services rendered
but not yet invoiced. Future actual outcomes may differ from the estimates and assessments carried out when preparing these financial
statements.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>Recoverability of property, plant and equipment, and intangible
assets:</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 0.55in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">At the end of each reporting fiscal year, the Company assesses
whether there is any indication that property, plant and equipment and/or intangible assets with finite useful lives may be impaired.
Impairment exists when the book value of the assets relative to the cash-generating unit (CGU) exceeds its recoverable amount, which is
the higher of its fair value less the costs of sales of that asset and its value in use. The value in use is calculated through the estimated
future cash flows discounted at their present value using a discount rate that reflects current market assessments of the time value of
money, and the risks specific to each CGU.</P>

<P STYLE="font: 1pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Based on the way the Company&#8217;s Management operates and
monitors the business as a whole, and how it makes decisions regarding the retention or disposal of physical assets, the Group considers
it has two cash-generating unit for the purposes of testing property, plant and equipment for impairment (one for DGC&#8217;s property,
plant and equipment, and another for DGCU&#8217;s property, plant and equipment).</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">In the event of impairment losses related to continuing operations,
including inventory impairment, they are recognized in the statement of income under the expense categories corresponding to the function
of the impaired asset.</P>

<P STYLE="font: 1pt Times New Roman,serif; margin: 0 0 0 0.55in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">A previously recognized impairment loss is only reversed if
there has been a change in the assumptions used to determine the recoverable amount of the cash-generating unit, since the last time an
impairment loss of the cash-generating unit was recognized.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 0.55in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">For the current fiscal year, the Group has not identified
any indication of property, plant and equipment impairment; i.e., the Group considers they do not exceed their recoverable amount as of
December 31, 2024.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>Revenue recognition and trade receivables</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Revenue is recognized on an accrual basis upon delivery to
customers, which includes estimated amounts of gas delivered and not invoiced at the end of each fiscal year, as well as its transportation
and distribution, if applicable. The amounts actually delivered are estimated based on purchased volumes and other historical information.
These volumes are allocated to each type of customer, segment, and savings level for valuation according to the applicable tariff, which
is based on historical information from segments and savings levels for each billing month.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The Group is exposed to losses from uncollectible accounts.
The provision for doubtful accounts is made based on the Group's collection estimates. While the Group uses available and projected information
to make these estimates, it is possible that adjustments to the provisions may be necessary in the future if economic conditions differ
substantially from the assumptions used in making the estimates. The corresponding charge is reflected in marketing expenses; no adjustments
are made to sales revenue. To estimate the provision for doubtful accounts, the Group continuously evaluates the amount and characteristics
of sales credits, taking into account the collectability of the credits based on the type and age of the credit and the applicable regulations.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>Application of IFRIC 12 &quot;Service Concession Arrangements&quot;</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">IFRIC Interpretation No. 12 &quot;Service Concession Arrangements&quot;
(IFRIC 12) establishes certain guidelines for the accounting by private entities that provide public services through a service concession
agreement or a contract of similar nature. IFRIC 12 is applicable to the licensee depending, among other factors, on the control that
the grantor has over the regulation of the service and the existence of a significant residual interest at the end of the agreement.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Considering that IFRIC 12 sets forth guidelines and general
principles, judgment is required to determine whether its application is appropriate, due to the particular characteristics of each concession
or license contract and the inherent complexity of the different concepts included in the interpretation.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The Gorup has analyzed the characteristics, conditions, and
currently effective terms of its natural gas distribution license and the guidelines established in IFRIC 12. Based on its analysis, concluded
that the license is outside the scope of IFRIC 12, primarily due to the renewal characteristics of the license that yield a result like
that which would result from having obtained a perpetual right for the operation of the infrastructure.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>2.5. Changes in the accounting policies</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>New standards and interpretations adopted </B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">As from the fiscal year beginning on January 01, 2024, the
Company has first applied certain new and/or amended standards and interpretations as issued by IASB. The Company has not early adopted
any standard, interpretation or amendment issued but not yet effective.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">A short description of the new and/or amended standards and
interpretations adopted by the Company, and their impact on these financial statements is presented below:</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>Amendments to IAS 1: Classification of liabilities as current
and non-current</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">In January 2020, IASB issued amendments to paragraphs 69 to
76 of IAS 1 &#8220;Presentation of Financial Statements&#8221; to specify the requirements for the classification of liabilities as current
and non-current. The amendments clarify the following:</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&#8211; the meaning of the right to defer settlement;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&#8211; that a right to defer must exist at the end of the
reporting period;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&#8211; that such classification is not affected by the probability
that an entity will exercise its right to defer; and</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&#8211; that only if an embedded derivative in a convertible
liability is itself an equity instrument would the terms of a liability not impact its classification.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">These amendments are effective for the annual periods beginning
on or after January 01, 2024, and are applied to the changes in the accounting policies, and the changes in the accounting estimates occurring
as from the beginning of that period. These amendments have had no significant impact on the Company's financial statements.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>Amendments to IFRS 16: Lease liabilities related to lease
and leaseback</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify; color: red"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The amendment addresses the requirements used by a seller-lessee
to measure the lease liability arising from a lease and leaseback transaction. It establishes that after the commencement date of a sale
and leaseback transaction, the seller-lessee shall apply paragraphs 29-35 of IFRS 16 to the right-of-use asset arising from the leaseback,
and paragraphs 36-46 of IFRS 16 to the lease liability arising from the leaseback. When applying paragraphs 36 to 46 of IFRS 16, the seller-lessee
determines the &#8220;lease payments&#8221; or the &#8220;revised lease payments&#8221; in a way that the seller-lessee would not recognize
any amount of the gain or loss related to the right-of-use retained by the seller-lessee. Applying these requirements does not prevent
the seller-lessee from recognizing in profit or loss any gain or loss relating to the partial or full termination of a lease, as required
by paragraph 46(a) of IFRS 16.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The amendment does not establish any specific measurement
requirements for lease liabilities arising from the leaseback. The initial measurement of a lease liability arising from the leaseback
may cause that the seller-lessee determines &#8220;lease payments&#8221; other than the general definition of lease payments included
in Appendix A of IFRS 16. The seller-lessee shall develop and apply an accounting policy resulting in relevant and reliable information
under IAS 8.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">These amendments are effective for the annual periods beginning
on or after January 01, 2024, and are applied to the changes in the accounting policies, and the changes in the accounting estimates occurring
as from the beginning of that period. These amendments have had no significant impact in the Company's financial statements.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>Amendments to IFRS 7 and IAS 7: Disclosures on supplier
financing arrangements</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">In May 2023, IASB issued amendments to IAS 7 &#8220;Statement
of cash flows&#8221;, and to IFRS 7 &#8220;Financial Instruments: Disclosures.&#8221; These amendments specify the disclosure requirements
to improve current requirements, which aim at helping users of the financial statements understand the effects of supplier financing arrangements
on liabilities, cash flows, and the entity&#8217;s exposure to liquidity risk.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">These amendments clarify the characteristics of supplier financing
arrangements. Under these arrangements, one or more financial service providers pay amounts that an entity owes to its suppliers. The
entity agrees to settle those amounts with the financial service providers under the terms and conditions of the arrangements, whether
on the same date or on a date after the financial service provider pays the entity&#8217;s suppliers.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The amendments require an entity to provide information about
the impact of the supplier financing arrangements on liabilities and cash flows, including the terms and conditions of those arrangements,
quantitative information on the liabilities related to such arrangements at the beginning and end of the reporting period, and the type
and effect of the non-monetary changes in the book values of those arrangements. The information about those arrangements is required
to be disclosed on an aggregated basis, unless the individual arrangements have terms that are not similar to each other or are unique.
Within the context of the quantitative disclosures of liquidity risk required under IFRS 7, the supplier financing arrangements are included
as an example of other factors that may be relevant to disclose.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">These amendments are effective for the annual periods beginning
on or after January 01, 2024, and are applied to the changes in the accounting policies, and the changes in the accounting estimates occurring
as from the beginning of that period. The amendments include some transition exemptions regarding the comparative and quantitative information
at the beginning of the annual reporting period, and the disclosures in the interim financial information. These amendments have had no
significant impact in the Company's financial statements.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>New standards issued but not yet effective</B></P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The new and amended standards and interpretations already
issued, but yet not effective, at the closing of this reporting period are described next. The Company intends to adopt these new and
amended standards and interpretations, if applicable, once they become effective:</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>Amendments to IAS 21: The effects of changes in foreign
exchange rates &#8211; Lack of exchangeability</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Amendments to IAS 21 &#8220;The effects of changes in foreign
exchange rates&#8221; specify how an entity should assess whether a currency is exchangeable and how to determine a spot exchange rate
when exchangeability is lacking.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">A currency is considered exchangeable into another currency
when an entity is able to obtain the other currency within a normal administrative time frame and through an exchange market or mechanism
in which an exchange transaction would create enforceable rights and obligations.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">If a currency is not exchangeable into another currency, an
entity is required to estimate the spot exchange rate at the measurement date. The objective of this estimate is to reflect the rate at
which an exchange transaction would take place at the measurement date between market participants under prevailing economic conditions.
The amendments indicate that an entity can use an observable exchange rate without adjustment or another estimation technique. When an
entity estimates a spot exchange rate, it must disclose the information that enables users of their financial statements to understand
the impact, or the expected impact, that this event will have on the financial performance, balance sheet and cash flows of the entity.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">These amendments apply to the fiscal years commencing on or
after January 1, 2025. When applying these amendments, an entity cannot restate comparative information. The Company shall conduct the
impact evaluation of the amendment once it becomes effective.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; background-color: white"><B>Amendments to IFRS 10 and IAS
28: Consolidated financial statements and investments in associates and joint ventures &#8211; sale or contribution of assets between
an investor and its associate or joint venture</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify; background-color: white; color: #404142">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Amendments to IFRS 10 &#8220;Consolidated financial statements&#8221;
and IAS 28 &#8220;Investments in associates and joint ventures&#8221; address an acknowledge inconsistency between the requirements in
IFRS 10 and those in IAS 28, regarding the treatment of the sale or contribution of assets between an investor and its associate or joint
venture.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The amendments issued in September 2014 establish that when
a transaction involves a business, whether in a subsidiary or not, all, any profit or loss is recognized in full. A partial profit or
loss is recognized when the transaction involves assets which do not constitute a business, even if the assets are in a subsidiary.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The mandatory application date of these amendments is to be
determined as IASB is expecting the results of its investigation project over the accounting based on the equity method. These amendments
must be applied retrospectively. The Company shall conduct the amendment impact evaluation once it becomes effective.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>IFRS 18: Presentation and disclosure in financial statements</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">In April 2024, IASB issued IFRS 18 &#8220;Presentation and
disclosure in financial statements&#8221;, which replaced IAS 1 &#8220;Presentation of financial statements&#8221;. IFRS 18 introduces
new categories and subtotals in the statement of income. It also requires disclosure of performance measures defined by management (as
defined by the entity) and includes new requirements for the position, aggregation and disaggregation of financial information.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Entities shall be required to classify all items of income
and expenses in their statement of income in one of these five categories: operations, investments, financing, income taxes and discontinued
operations. In addition, under IFRS 18, entities are required to present subtotals and totals of &#8220;operating profit or loss&#8221;,
&#8220;profit or loss before financing and income taxes&#8221; and &#8220;profit or loss&#8221;.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">In order to classify income and expenses in the required categories,
entities must assess whether they have a &#8220;main business activity&#8221; consisting of investing in assets or providing financing
to customers, as specific classification requirements will apply to those entities. Determining whether an entity has a specific main
business activity is a matter of fact and circumstances and requires judgement. An entity may have more than one main business activity.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">IFRS 18 introduces the concept of Management-defined Performance
Measure (MPM), which is a subtotal of income and expenses used by entities in public communications outside financial statements to communicate
users the management&#8217;s point of view regarding an aspect of the entity&#8217;s financial performance as a whole. IFRS 18 requires
disclosure of all MPMs of an entity in a single note to the financial statements and requires multiple disclosures for each MPM, including
how the measure is calculated and a reconciliation to the most comparable subtotal specified by IFRS 18 or any other IFRS accounting standard.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">IFRS 18 makes a distinction between &#8220;presenting&#8221;
information in the primary financial statements and &#8220;disclosing&#8221; it in the notes, and introduces a principle to determine
the position of the information based on &#8220;functions&#8221; identified of the primary financial statements and notes. It requires
the aggregation and disaggregation of information to be conducted referencing similar and different characteristics. These guidelines
also determine significant descriptions, or labels, to the elements aggregated in financial statements.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>




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<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Subsequent amendments to other accounting standards:</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Amendments have been introduced to the scope of IAS 7 &#8220;Statement
of cash flows&#8221;, which include the change in the starting point to determine the cash flows of operations under the indirect method
of &#8220;income or loss&#8221; to &#8220;operating income (loss)&#8221;. It has also eliminated to a great extent the option to classify
cash flows from dividends and interest in the statement of cash flows. IAS 33 &#8220;Earnings per share&#8221; is modified to include
additional requirements to allow entities to disclose additional amounts per share, only if the numerator used in the calculation complies
with the specified criteria. To that end, the numerator must be: (i) an amount attributable to common shareholders of the parent entity;
and (ii) a total or subtotal identified by IFRS 18 or a MPM, as defined by IFRS 18.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Some requirements previously included in IAS 1 have been transferred
to IAS 8 &#8220;Accounting policies, changing in accounting estimates and errors&#8221;, which has been renamed IAS 8 &#8220;Basis of
preparation of financial statements&#8221;.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">IAS 34 &#8220;Interim financial reporting&#8221; has been
modified to include the requirement of MPM disclosures.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">IFRS 18 and the amendments to other accounting standards are
effective for all reporting periods commencing on or after January 1, 2027 and shall apply retrospectively. Early adoption is permitted
and must be disclosed.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>IFRS 19: Subsidiaries without public accountability &#8211;
disclosures</B></P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">In May 2024, IASB issued IFRS 19 &#8220;Subsidiaries without
public accountability: disclosures&#8221;, which allows eligible entities to apply reduced disclosure requirements. Notwithstanding the
foregoing, entities must still apply the recognition, measurement and presentation requirements in other IFRS accounting standards. Except
otherwise specified, eligible entities which choose to apply IFRS 19 need not to apply the disclosure requirements in other IFRS accounting
standards.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">An entity applying IFRS 19 is obliged to disclose that fact
as part of its general statement of compliance with IFRS. IFRS 19 requires entities whose financial statements comply with IFRS accounting
standards, including IFRS 19, to make an explicit and unreserved statement of such compliance.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">An entity may elect to apply IFRS 19 if at the end of the
reporting period: (i) it is a subsidiary, as defined in IFRS 10 &#8220;Consolidated financial statements&#8221;; (ii) it does not have
public accountability; and (iii) it has an ultimate or intermediate parent that prepares the consolidated financial statements, available
for public use, which comply with IFRS accounting standards.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">An entity has public accountability if: (i) its debt or equity
instruments are traded in a public market or it is in the process of issuing such instruments for trading in a public market; o (ii) it
holds assets in a fiduciary capacity for a broad group of outsiders as one of its main businesses (i.e. not for reasons incidental to
their main business).</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Disclosure requirements in IFRS 19 are organized in sub-items
as per IFRS, and when disclosure requirements in other IFRS accounting standards are still applicable, they are specified in the subtitle
of each IFRS.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Disclosures in IFRS 19 exclude the operating segments of IFRS
8 &#8220;Operating segments&#8221;, the &#8220;Insurance Contracts&#8221; of IFRS 17 and the &#8220;Earnings per share&#8221; of IAS 33.
Therefore, if an entity applying IFRS 19 is obliged to apply IFRS 17 or chooses to apply IFRS 8 and/or IAS 33, such entity shall be obliged
to apply all the disclosure requirements relevant to such regulations.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">IFRS 19 is effective for all reporting periods commencing
on or after January 1, 2027, and early adoption is allowed. If an eligible entity chooses early adoption, it is obliged to disclose that
fact. An entity is required, during the first (annual and interim) period of application of that standard, to align the disclosures of
the comparative period with the disclosures included in the current period pursuant to IFRS 19, unless IFRS 19 or other IFRS accounting
standard requires or allows otherwise.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B><U>NOTE 3. INCOME FROM ORDINARY ACTIVITIES</U></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: top; width: 55%; border-top: white 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; line-height: 115%"><B>&nbsp;</B></TD>
    <TD STYLE="width: 15%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-bottom: 10pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; line-height: 115%"><FONT STYLE="font-size: 8pt; line-height: 115%"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="width: 13%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 13%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2022</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Gross sales</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">469,589,895 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">295,391,958 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">347,307,979</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Commercial management services</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">9,781,910 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">10,268,503 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">6,806,220</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Transport sale services</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">1,157,644 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">2,588,147 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">11,896</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Service income</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">5,280,977 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">5,451,765</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Other sales</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">8,353,229 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">4,740,024 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">12,494,345</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>488,882,678</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>318,269,609</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>372,072,205</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 7pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B><U>NOTE 4. COST OF SALES</U></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: top; width: 55%; border-top: white 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; line-height: 115%"><B>&nbsp;</B></TD>
    <TD STYLE="width: 15%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-bottom: 10pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; line-height: 115%"><FONT STYLE="font-size: 8pt; line-height: 115%"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="width: 13%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 13%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2022</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Materials inventory at the beginning of the fiscal year</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">1,026,007 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;2,028,742 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">1,446,729</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Gas purchase</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;179,730,988 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;147,994,964 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">164,649,509</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Materials purchase</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">2,681,286 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;5,320,105 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">6,779,563</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Gas transport</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;72,997,389 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;36,776,753 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">44,347,629</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Distribution expenses (Note 5)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;58,748,913 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">67,285,693 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">73,161,051</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Production expenses (Note 5)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">207,747 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">78,378 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">662,981</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Materials inventory at the closing of the fiscal year</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(667,363) </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;(1,026,007) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">(2,028,742)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>314,724,967</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>258,458,628</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>289,018,720</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0"><B>&nbsp;</B></P>


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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR><TR><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: center">&nbsp;F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B><U>NOTE 5. DISTRIBUTION, PRODUCTION, ADMINISTRATIVE, SELLING
AND FINANCING EXPENSES </U></B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Details of distribution, production, administrative, selling
and financing expenses corresponding to fiscal years ended December 31, 2024, 2023 and 2022, are the following:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="padding-bottom: 6pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">}</FONT></TD>
    <TD COLSPAN="7" STYLE="border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>For the fiscal year ended 12.31.2024</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 30%; padding-bottom: 6pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Distribution expenses</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Production expenses</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; text-indent: 0.1pt"><FONT STYLE="font-size: 6pt"><B>Administrative expenses</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding-right: -4.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; text-indent: -1.35pt"><FONT STYLE="font-size: 6pt"><B>Selling expenses</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; text-indent: 1.15pt"><FONT STYLE="font-size: 6pt"><B>Financing expenses</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; text-indent: 0.1pt"><FONT STYLE="font-size: 6pt"><B>Expenses activation</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; text-indent: 0.25pt"><FONT STYLE="font-size: 6pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: -10.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify; text-indent: 0.05pt"><FONT STYLE="font-size: 6pt">Wages and social security contributions</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;17,725,412 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;77,523 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;6,290,329 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;7,541,083 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;760,277 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 0.25pt"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;32,394,624 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: -10.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify; text-indent: 0.05pt"><FONT STYLE="font-size: 6pt">Directors and auditors fees</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;197,667 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 0.25pt"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;197,667 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: -10.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify; text-indent: 0.05pt"><FONT STYLE="font-size: 6pt">Professional services fees</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;254,268 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;6,581,028 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;1,057,200 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 0.25pt"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;7,892,496 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: -10.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify; text-indent: 0.05pt"><FONT STYLE="font-size: 6pt">Trials and claims</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;845,852 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;1,822,623 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 0.25pt"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;2,668,475 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: -10.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify; text-indent: 0.05pt"><FONT STYLE="font-size: 6pt">Invoicing and collection expenses</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;15,406,730 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 0.25pt"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;15,406,730 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: -10.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify; text-indent: 0.05pt"><FONT STYLE="font-size: 6pt">Leases </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;68,677 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;217,008 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;48,331 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 0.25pt"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;334,016 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: -10.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify; text-indent: 0.05pt"><FONT STYLE="font-size: 6pt">Insurance premium</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;569,930 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;215,064 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;4,244 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 0.25pt"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;789,238 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: -10.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify; text-indent: 0.05pt"><FONT STYLE="font-size: 6pt">Travel and lodging</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;520,449 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;65,619 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;65,825 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 0.25pt"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;651,893 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: -10.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify; text-indent: 0.05pt"><FONT STYLE="font-size: 6pt">Courier and telecommunication expenses</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;53,883 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;372,316 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;79,298 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 0.25pt"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;505,497 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: -10.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify; text-indent: 0.05pt"><FONT STYLE="font-size: 6pt">Property, plant and equipment depreciation</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;22,186,556 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;517,340 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;1,687,241 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 0.25pt"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;24,391,137 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: -10.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify; text-indent: 0.05pt"><FONT STYLE="font-size: 6pt">Intangible assets amortization</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;226,743 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;30,235 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;138,965 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;656,308 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 0.25pt"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;1,052,251 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: -10.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify; text-indent: 0.05pt"><FONT STYLE="font-size: 6pt">Right of way</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;727,870 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 0.25pt"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;727,870 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: -10.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify; text-indent: 0.05pt"><FONT STYLE="font-size: 6pt">Property, plant and equipment repair and maintenance</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;6,661,434 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;1,611,437 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;5,799,266 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 0.25pt"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;14,072,137 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: -10.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify; text-indent: 0.05pt"><FONT STYLE="font-size: 6pt">Taxes, rates and contributions</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;60,297 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;832,041 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;3,453,186 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;87,042 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 0.25pt"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;4,432,566 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: -10.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify; text-indent: 0.05pt"><FONT STYLE="font-size: 6pt">Gross income tax</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;9,996,099 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;312,106 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 0.25pt"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;10,308,205 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: -10.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify; text-indent: 0.05pt"><FONT STYLE="font-size: 6pt">ENARGAS rate</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;2,307,485 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;1,105,349 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;1,579,977 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 0.25pt"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;4,992,811 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: -10.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify; text-indent: 0.05pt"><FONT STYLE="font-size: 6pt">Bad debts </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;2,387,691 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 0.25pt"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;2,387,691 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: -10.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify; text-indent: 0.05pt"><FONT STYLE="font-size: 6pt">Advertising and marketing</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;40,282 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;312,452 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 0.25pt"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;352,734 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: -10.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify; text-indent: 0.05pt"><FONT STYLE="font-size: 6pt">Cleaning and surveillance</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;609,941 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;316,841 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;331,585 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 0.25pt"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;1,258,367 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: -10.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify; text-indent: 0.05pt"><FONT STYLE="font-size: 6pt">Bank expenses and commissions</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;364,588 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 0.25pt"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;364,588 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: -10.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify; text-indent: 0.05pt"><FONT STYLE="font-size: 6pt">Interest and other holdings loss</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;8,059,004 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 0.25pt"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;8,059,004 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: -10.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify; text-indent: 0.05pt"><FONT STYLE="font-size: 6pt">Services and supplies to third parties</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;991,834 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;99,989 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;423,348 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;608,374 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 0.25pt"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;2,123,545 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: -10.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify; text-indent: 0.05pt"><FONT STYLE="font-size: 6pt">Commercial and technical support agreements</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;1,341,080 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;1,444,151 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 0.25pt"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;2,785,231 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: -10.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify; text-indent: 0.05pt"><FONT STYLE="font-size: 6pt">Miscellaneous </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;520,836 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;135,749 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;74,628 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 0.25pt"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;731,213 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: -10.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify; text-indent: 0.05pt"><FONT STYLE="font-size: 6pt">Freight and transportation</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;3,076,366 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 0.25pt"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;3,076,366 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: -10.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify; text-indent: 0.05pt"><FONT STYLE="font-size: 6pt"><B>Total expenses</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;58,748,913 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;207,747 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;21,247,594 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;52,533,669 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;8,458,152 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;760,277 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 0.25pt"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;141,956,352 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-bottom: 6pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>For the fiscal year ended 12.31.2023<SUP>*</SUP></B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 30%; padding-right: 3.5pt; padding-bottom: 6pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Distribution expenses</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Production expenses</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Administrative expenses</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding-right: -9.35pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Selling expenses</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Financing expenses</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Expenses activation</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Wages and social security contributions</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;18,633,845 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;9,693 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;7,318,559 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;9,945,492 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;930,708 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;36,838,297 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Directors and auditors fees</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;229,400 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;229,400 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Professional services fees</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;725,819 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;6,640,573 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;1,105,129 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;8,471,521 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Trials and claims</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;6,260,527 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;1,690,714 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;7,951,241 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Invoicing and collection expenses</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;10,622,710 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;10,622,710 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Leases </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;69,580 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;230,046 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;39,518 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;339,144 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Insurance premium</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;416,989 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;181,084 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;3,512 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;601,585 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Travel and lodging</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;352,311 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;98,927 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;281,305 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;732,543 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Courier and telecommunication expenses</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;45,032 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;373,238 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;77,972 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;496,242 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: -0.05in; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Property, plant and equipment depreciation</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;24,104,283 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;518,418 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;631,694 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;25,254,395 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Intangible assets amortization</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;1,041,976 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;28,962 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;986 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;1,071,924 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Right of way</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;2,145,405 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;2,145,405 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Property, plant and equipment repair and maintenance</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;4,443,516 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;9,276,902 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;342,468 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;14,062,886 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Taxes, rates and contributions</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;39,960 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;996,478 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;3,004,073 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;143,059 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;4,183,570 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Gross income tax</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;6,541,982 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;375,769 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;6,917,751 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">ENARGAS rate</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;2,971,648 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;1,425,221 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;2,041,932 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;6,438,801 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Bad debts </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(262,126) </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;(262,126) </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Advertising and marketing</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;1,499 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;244,254 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;245,753 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Cleaning and surveillance</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;599,419 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;308,664 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;325,240 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;1,233,323 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Bank expenses and commissions</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;446,191 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;446,191 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Interest and other holdings loss</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;4,162,962 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;4,162,962 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Services and supplies to third parties</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;788,767 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;38,161 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;613,159 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;46,912 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;1,486,999 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Commercial and technical support agreements</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;919,808 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;1,597,611 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;2,517,419 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Miscellaneous </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;589,300 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;1,562 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;404,449 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;205,459 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;1,200,770 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Freight and transportation</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;3,137,508 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;3,137,508 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt"><B>Total expenses</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67,285,693 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78,378 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30,754,508 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36,795,137 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,681,790 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930,708 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140,526,214 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: justify">*Unaudited</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>



<!-- Field: Page; Sequence: 36 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR><TR><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: center">&nbsp;F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 100%">&nbsp;<IMG SRC="cepu202506196k_001.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center"><P STYLE="font: 12pt Cambria,serif; margin: 0; text-align: center; border-bottom: #BFBFBF 0.5pt solid"><B>ECOGAS INVERSIONES S.A.</B></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-bottom: 6pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>For the fiscal year ended 12.31.2022<SUP>*</SUP></B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; width: 30%; padding-right: 3.5pt; padding-bottom: 6pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Distribution expenses</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Production expenses</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Administrative expenses</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding-right: -9.35pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Selling expenses</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Financing expenses</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Expenses activation</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Wages and social security contributions</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">17,825,598</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">161,208</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">6,707,534</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">9,482,398</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">896,622</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;35,073,360 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Directors and auditors fees</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">336,589</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;336,589 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Professional services fees</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">457,427</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;&nbsp;10,059</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">7,024,034</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">758,694</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;8,250,214 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Trials and claims</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">10,655,454</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">742,667</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;11,398,121 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Invoicing and collection expenses</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">12,914,892</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;12,914,892 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Leases </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">108,105</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">14,085</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">255,017</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">43,250</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;420,457 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Insurance premium</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">553,200</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">34</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">276,568</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">3,886</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;833,688 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Travel and lodging</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">369,885</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">3,240</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">73,782</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">296,380</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;743,287 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Courier and telecommunication expenses</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">53,829</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">166</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">429,301</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">91,753</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;575,049 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: -0.05in; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Property, plant and equipment depreciation</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">24,141,998</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">14,259</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">534,959</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">653,806</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;25,345,022 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Intangible assets amortization</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">1,790,080</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;1,790,080 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Right of way</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">2,329,772</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;2,329,772 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Property, plant and equipment repair and maintenance</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">5,680,844</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">19,198</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">8,498,519</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">366,653</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;14,565,214 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Taxes, rates and contributions</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">56,335</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">36,648</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">939,196</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">3,171,132</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">101,745</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;4,305,056 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Gross income tax</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">33</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">7,666,117</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">379,567</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;8,045,717 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">ENARGAS rate</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">2,723,487</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">1,307,257</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">1,875,831</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;5,906,575 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Bad debts </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">76,052</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;76,052 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Advertising and marketing</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">4,592</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">293,473</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;298,065 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Cleaning and surveillance</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">566,491</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">285,126</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">305,850</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;1,157,467 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Bank expenses and commissions</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">493,586</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;493,586 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Interest and other holdings loss</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">4,698,455</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;4,698,455 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Services and supplies to third parties</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">992,823</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">384,726</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">716,319</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">227,230</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;2,321,098 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Commercial and technical support agreements</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">958,020</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">1,721,886</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;2,679,906 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Miscellaneous </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">693,132</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">19,358</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">341,544</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">339,644</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;1,393,678 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt">Freight and transportation</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">3,204,571</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;3,204,571 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt"><B>Total expenses</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>73,161,051</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>662,981</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>28,966,623</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>40,288,927</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>5,179,767</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>896,622</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 6pt"><B>149,155,971</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: justify">*Unaudited</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B><U>NOTE 6. OTHER OPERATING INCOME AND EXPENSES</U></B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B><U>Other operating income</U></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="width: 60%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 12%; border-bottom: black 1pt solid; padding-right: 0.05in; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 0.05in; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 12%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0 0.05in 0 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0 0.05in 0 0; text-align: center">(unaudited)</P></TD>
    <TD STYLE="width: 2%; padding-right: 0.05in; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 12%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0 0.05in 0 0; text-align: center"><B>12.31.2022</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0 0.05in 0 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">&nbsp;Interest income</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,325,794 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;8,359,434 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">8,506,440</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">&nbsp;Income for property, plant and equipment sold</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;61,375 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;195,784 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">4,733</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">&nbsp;Provisions recovery (Note 15)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;757,463 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22,700 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">138,039</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">&nbsp;Income for investment properties</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;54,411 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137,313 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">130,222</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">&nbsp;Trade payables and other payables recovery</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;113,906 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">&nbsp;Exchange differences</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;728,714 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;2,029,603 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">1,051,602</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">&nbsp;Other recoveries</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;1,975,515 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">&nbsp;Other income</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;1,157,936 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;1,146,447 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">995,172</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;7,199,599 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;13,866,796 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>10,826,208</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B><U>Other operating expenses</U></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: top; width: 60%; padding-right: 3.5pt; padding-left: 35.45pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 12%; border-bottom: black 1pt solid; padding-right: 0.05in; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 0.05in; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 12%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0 0.05in 0 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0 0.05in 0 0; text-align: center">(unaudited)</P></TD>
    <TD STYLE="width: 2%; padding-right: 0.05in; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 12%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0 0.05in 0 0; text-align: center"><B>12.31.2022</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0 0.05in 0 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Interest expense</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;(3,551,336) </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;(1,049,597) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">(2,160,379)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Exchange differences</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;(702,325) </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(2,306,372) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,295,548)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Loss for property, plant and equipment derecognition</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;(128,247) </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(364,675) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">(213,846)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Amortization of investment properties (Note 11)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;(107,369) </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(107,369) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">(107,179)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Other expenses</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;(53,562) </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(38,575) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">(559,766)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;(4,542,839) </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;(3,866,588) </B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>(4,336,718)</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B><U>Financial income</U></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: top; width: 60%; padding-right: 3.5pt; padding-left: 35.45pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 12%; border-bottom: black 1pt solid; padding-right: 0.05in; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 0.05in; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 12%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0 0.05in 0 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0 0.05in 0 0; text-align: center">(unaudited)</P></TD>
    <TD STYLE="width: 2%; padding-right: 0.05in; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 12%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0 0.05in 0 0; text-align: center"><B>12.31.2022</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0 0.05in 0 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Interest</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">50,592 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">233,044 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">1,084,089</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Income for valuation of financial assets at fair value</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">5,601,873 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">79,285,191 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">8,548,336</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Quote differences</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">803,178 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">16,198,849 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">3,978,722</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>6,455,643 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>95,717,084 </B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>13,611,147</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 7pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B><U>Financial costs</U></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: top; width: 60%; padding-right: 3.5pt; padding-left: 35.45pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 12%; border-bottom: black 1pt solid; padding-right: 0.05in; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 0.05in; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 12%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0 0.05in 0 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0 0.05in 0 0; text-align: center">(unaudited)</P></TD>
    <TD STYLE="width: 2%; padding-right: 0.05in; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 12%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0 0.05in 0 0; text-align: center"><B>12.31.2022</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0 0.05in 0 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Quote differences</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">(265,310) </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">(2,818,358) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">(412,680)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Income (loss) for holdings</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">(21,533) </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">(20,057) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,016,998)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Financial expenses (Note 5)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">(8,458,152) </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">(4,681,790) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">(5,179,767)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>(8,744,995) </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>(7,520,205) </B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>(6,609,445)</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 37 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR><TR><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: center">&nbsp;F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 100%">&nbsp;<IMG SRC="cepu202506196k_001.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center"><P STYLE="font: 12pt Cambria,serif; margin: 0; text-align: center; border-bottom: #BFBFBF 0.5pt solid"><B>ECOGAS INVERSIONES S.A.</B></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman,serif; margin: 0"><B><U>NOTE 7. <FONT STYLE="font-variant: small-caps">INTEREST IN THE NET INCOME
(LOSS) OF ASSOCIATES</FONT></U></B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On November 26, 2020, the Company acquired GESER S.A.U. (&#8220;GESER&#8221;).
Afterwards, as per the decision taken by the Board of Directors on April 8, 2022, a share of the interest held was sold, and the Company
kept 77.873% of the shareholding in GESER until June 10, 2024, making the Company the parent company.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">As a result of the negotiations held, on June 11, 2024, the
Company transferred its shareholding in GESER. Therefore, as of the date of this document, ECOG does not hold any residual shareholding
in that company.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Furthermore, COySERV S.A. is a privately held Company, whose
corporate purpose is the performance of activities complementary and/or related to the Company.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The following tables present the reduced financial information
of the interest of the Company in COySERV S.A.:</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: top; width: 64%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt"><B>Balance sheet of the associate</B></FONT></TD>
    <TD STYLE="width: 18%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 16%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt">Current assets</FONT></TD>
    <TD STYLE="padding-top: 2.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 14.5pt"><FONT STYLE="font-size: 9pt">7,722,403 </FONT></TD>
    <TD STYLE="padding-top: 2.4pt; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-top: 2.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 14.5pt"><FONT STYLE="font-size: 9pt">3,085,588</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt">Non-current assets</FONT></TD>
    <TD STYLE="padding-top: 2.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 14.5pt"><FONT STYLE="font-size: 9pt">615,642 </FONT></TD>
    <TD STYLE="padding-top: 2.4pt; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-top: 2.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 14.5pt"><FONT STYLE="font-size: 9pt">229,553</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt">Current liabilities</FONT></TD>
    <TD STYLE="padding-top: 2.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 14.5pt"><FONT STYLE="font-size: 9pt">5,231,380 </FONT></TD>
    <TD STYLE="padding-top: 2.4pt; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-top: 2.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 14.5pt"><FONT STYLE="font-size: 9pt">1,566,381</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt">Equity</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-top: 2.4pt; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">3,106,665 </FONT></TD>
    <TD STYLE="padding-top: 2.4pt; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-top: 2.4pt; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">1,748,760</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt"><B>Interest in the equity of the associate</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt"><B>1,272,180</B></FONT></TD>
    <TD STYLE="padding-top: 2.4pt; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt"><B>716,117</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 5pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0">&nbsp;</P>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="width: 60%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt"><B>Statement of comprehensive income of the associate</B></FONT></TD>
    <TD STYLE="width: 12%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 12%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 12%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2022</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt">Operating income (loss)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;1,688,485 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;583,775 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">(1,668)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt"><B>Income (loss) for the FY </B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;1,357,905 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;465,046 </B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt"><B>(1,770)</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt"><B>Interest in the income (loss) of the associate</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;556,063 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;190,436 </B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt"><B>(867)</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 5pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="width: 12%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding: 0.75pt 0.75pt 0.75pt 0.35pt; font-family: Times New Roman,serif; text-align: center; text-indent: 0.45pt"><FONT STYLE="font-size: 7pt"><B>Company</B></FONT></TD>
    <TD STYLE="width: 9%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding: 0.75pt 0.75pt 0.75pt 0.35pt; font-family: Times New Roman,serif; text-align: center; text-indent: 0.45pt"><FONT STYLE="font-size: 7pt"><B>Face value</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding: 0.75pt; font-family: Times New Roman,serif; text-align: center; text-indent: 0.45pt"><FONT STYLE="font-size: 7pt"><B>Number of shares</B></FONT></TD>
    <TD STYLE="width: 9%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding: 0.75pt; font-family: Times New Roman,serif; text-align: center; text-indent: 0.45pt"><FONT STYLE="font-size: 7pt"><B>Cost value </B></FONT></TD>
    <TD STYLE="width: 10%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding: 0.75pt; font-family: Times New Roman,serif; text-align: center; text-indent: 0.45pt"><FONT STYLE="font-size: 7pt"><B>Quote value</B></FONT></TD>
    <TD STYLE="width: 12%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding: 0.75pt; font-family: Times New Roman,serif; text-align: center; text-indent: 0.45pt"><FONT STYLE="font-size: 7pt"><B>Proportional equity value</B></FONT></TD>
    <TD STYLE="width: 18%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding: 0.75pt; font-family: Times New Roman,serif; text-align: center; text-indent: 0.45pt"><FONT STYLE="font-size: 7pt"><B>Interest in the net income (loss) of the associate</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding: 0.75pt">
    <P STYLE="font: 7pt Times New Roman,serif; margin: 0; text-align: center; text-indent: 0.45pt"><B>Book value as of</B></P>
    <P STYLE="font: 7pt Times New Roman,serif; margin: 0; text-align: center; text-indent: 0.45pt"><B>12.31.2024</B></P></TD>
    <TD STYLE="width: 10%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Times New Roman,serif; margin: 0; text-align: center; text-indent: 0.45pt"><B>Book value as of 12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center; text-indent: 0.45pt">(unaudited)</P></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0.75pt; font-family: Times New Roman,serif; text-align: center; text-indent: 0.45pt"><FONT STYLE="font-size: 7pt">COySERV S.A.</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 0.35pt; font-family: Times New Roman,serif; text-align: center; text-indent: 0.45pt"><FONT STYLE="font-size: 7pt">1.00</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 0.75pt; font-family: Times New Roman,serif; text-align: center; text-indent: 0.45pt"><FONT STYLE="font-size: 7pt">2,775,888</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 0.75pt; font-family: Times New Roman,serif; text-align: center; text-indent: 0.45pt"><FONT STYLE="font-size: 7pt">2,776</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 0.75pt; font-family: Times New Roman,serif; text-align: center; text-indent: 0.45pt"><FONT STYLE="font-size: 7pt">Not listed</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 0.75pt; font-family: Times New Roman,serif; text-align: right; text-indent: 0.45pt"><FONT STYLE="font-size: 7pt">&nbsp;1,272,180 </FONT></TD>
    <TD STYLE="padding-right: 2.85pt; padding-left: 0.75pt; font-family: Times New Roman,serif; text-align: center; text-indent: 0.45pt"><FONT STYLE="font-size: 7pt">&nbsp;556,063 </FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 0.75pt; font-family: Times New Roman,serif; text-align: center; text-indent: 0.45pt"><FONT STYLE="font-size: 7pt">&nbsp;1,272,180 </FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.75pt; font-family: Times New Roman,serif; text-align: center; text-indent: 0.45pt"><FONT STYLE="font-size: 7pt">716,117</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD COLSPAN="7" STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding: 0.75pt; font-family: Times New Roman,serif; text-align: center; text-indent: 0.45pt"><FONT STYLE="font-size: 7pt"><B>TOTAL</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.65pt; padding-left: 0.75pt; font-family: Times New Roman,serif; text-align: center; text-indent: 0.45pt"><FONT STYLE="font-size: 7pt"><B>1,272,180</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.65pt; padding-left: 5.75pt; font-family: Times New Roman,serif; text-align: center; text-indent: 0.45pt"><FONT STYLE="font-size: 7pt"><B>716,117</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 5pt Times New Roman,serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding: 0.75pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding: 0.75pt; font-family: Times New Roman,serif; text-align: center; text-indent: 4.35pt"><FONT STYLE="font-size: 7pt"><B>Information of the issuing entity</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 12%; border-bottom: black 1pt solid; padding: 0.75pt 0.75pt 0.75pt 0.35pt; font-family: Times New Roman,serif; text-align: center; text-indent: 0.45pt"><FONT STYLE="font-size: 7pt"><B>Company</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: black 1pt solid; padding: 0.75pt; font-family: Times New Roman,serif; text-align: center; text-indent: 4.35pt"><FONT STYLE="font-size: 7pt"><B>Date</B></FONT></TD>
    <TD STYLE="width: 16%; border-bottom: black 1pt solid; padding: 0.75pt; font-family: Times New Roman,serif; text-align: center; text-indent: 4.35pt"><FONT STYLE="font-size: 7pt"><B>Share capital</B></FONT></TD>
    <TD STYLE="width: 16%; border-bottom: black 1pt solid; padding: 0.75pt; font-family: Times New Roman,serif; text-align: center; text-indent: 4.35pt"><FONT STYLE="font-size: 7pt"><B>Income (loss) for the period</B></FONT></TD>
    <TD STYLE="width: 16%; border-bottom: black 1pt solid; padding: 0.75pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>Equity</B></FONT></TD>
    <TD STYLE="width: 28%; border-bottom: black 1pt solid; padding: 0.75pt; font-family: Times New Roman,serif; text-align: center; text-indent: 4.35pt"><FONT STYLE="font-size: 7pt"><B>% of interest</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.75pt 0.75pt 0.75pt 0.35pt; font-family: Times New Roman,serif; text-align: center; text-indent: 0.45pt"><FONT STYLE="font-size: 7pt">COySERV S.A.</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.75pt 2.85pt 0.75pt 0.75pt; font-family: Times New Roman,serif; text-align: center; text-indent: 4.35pt"><FONT STYLE="font-size: 7pt">12.31.2024</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.75pt; font-family: Times New Roman,serif; text-align: center; text-indent: 4.35pt"><FONT STYLE="font-size: 7pt">27,759</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.75pt 2.85pt 0.75pt 0.75pt; font-family: Times New Roman,serif; text-align: center; text-indent: 4.35pt"><FONT STYLE="font-size: 7pt">&nbsp;1,357,905 </FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.75pt 2.85pt 0.75pt 0.75pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;3,106,665 </FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.75pt 2.85pt 0.75pt 0.75pt; font-family: Times New Roman,serif; text-align: center; text-indent: 4.35pt"><FONT STYLE="font-size: 7pt">40.95 </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 5pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The Company has an indirect holding in COySERV S.A. through
Distribuidora de Gas Cuyana S.A. (30.95%) and Distribuidora de Gas del Centro S.A. (10%).</P>


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<P STYLE="font: 10pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B><U>NOTE 8. INCOME TAX</U></B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 35.45pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 1.4pt 0 0; text-align: justify">The balance of the income tax net of down payments
and withholdings made by customers amounted to 31,251,307 as of December 31, 2024, and 818,576 in favor of the Company as of December
31, 2023.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 1.4pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 1.4pt 0 0; text-align: justify">The main components of income tax for the fiscal
years ended December 31, 2024, 2023, and 2022 are the following:</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 1.4pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="width: 60%; padding-right: 3.5pt; padding-bottom: 3pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Statement of comprehensive income</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 12%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD>
    <TD STYLE="width: 2%; padding-right: -46.05pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 12%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2022</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Current income tax</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Income tax expense for the fiscal year</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">(39,379,127) </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">(2,030,563) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">(8,845,919)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Adjustment related to current income tax for the previous fiscal year</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;311,240 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Deferred income tax</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Related to the origin and reversal of temporary differences</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;3,427,091 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">(4,366,745) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">2,260,495</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Income tax charged to other comprehensive income (loss)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>(35,640,796) </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>(6,397,308) </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>(6,585,424)</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Reconciliation between the income tax and the accounting income
(loss) multiplied by the tax rate of the Company applicable to the fiscal year ended December 31, 2024, 2023, and 2022 is the following:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: top; width: 60%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 12%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 12%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 12%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2022</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-top: 2.4pt; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Income (loss) for the fiscal year before income tax</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;76,593,524 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.4pt; padding-bottom: 2.4pt; font-family: Times New Roman,serif; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;35,841,656 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">(2,821,897)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>At the income tax effective rate</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">(26,453,866) </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.4pt; padding-bottom: 2.4pt; font-family: Times New Roman,serif; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">(12,447,703) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">964,813</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 21.3pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Income (loss) from permanent investments</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;192,381 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;65,887 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">370,334</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 21.3pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Loss on net monetary position</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">(14,304,374) </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.4pt; padding-bottom: 2.4pt; font-family: Times New Roman,serif; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">(23,130,252) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">(21,639,367)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 21.3pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Tax inflation adjustment</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;1,244,214 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;743,890 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">716,512</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0 0 0 21.3pt">Tax inflation adjustment</P>
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0 0 0 21.3pt">2020 recovery</P></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;169,022 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.4pt; padding-bottom: 2.4pt; font-family: Times New Roman,serif; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 21.3pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Other permanent differences</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;3,511,827 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;28,370,870 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">13,002,284</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Income tax in the statement of comprehensive income </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>(35,640,796) </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.4pt; padding-bottom: 2.4pt; font-family: Times New Roman,serif; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>(6,397,308) </B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>(6,585,424)</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 3pt">Deferred income tax corresponds to the following:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>Balance sheet</B></FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>Statement of comprehensive income </B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; width: 41%; padding-right: 2.15pt; padding-left: 50.35pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt">
    <P STYLE="font: 7pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD>
    <TD STYLE="width: 4%; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 11%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt">
    <P STYLE="font: 7pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt">
    <P STYLE="font: 7pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2022</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Other financial assets</FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(15,397) </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(322) </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(15,075) </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;11,781 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">(11,968)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Trade receivables and other receivables</FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,328,778 </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,252,111 </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;76,667 </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(2,517,880) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">(4,857,022)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Other non-financial assets</FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(57,812) </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(307,772) </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;249,960 </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(244,267) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">311,501</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Inventory</FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(43,763) </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(186,428) </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;142,665 </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(69,813) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">(70,974)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Property, plant and equipment and intangible assets</FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(88,863,692) </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(93,400,296) </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;4,533,703 </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;4,794,158 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">5,683,095</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 21.25pt; padding-left: 2.15pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Provisions</FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,446,584 </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,558,463 </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(1,111,879) </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(3,339,133) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">(293,988)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Wages and social security contributions</FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;243,575 </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;168,260 </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;75,315 </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(2,752) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">42,836</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Other liabilities</FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(696) </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(1,516) </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;820 </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(4,171) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">8,901</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Deferred tax inflation adjustment</FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;4,150 </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;25,966 </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(21,816) </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;145,532 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">(545,725)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">General tax loss</FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;404,300 </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(404,300) </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(327,755) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">226,357</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Specific tax loss available to offset future taxable profits</FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,732,768 </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,786,491 </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(53,723) </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(2,621,076) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">2,205,671</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Others </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(632) </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">47,515 </FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">(45,246)</FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(191,369) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">(438,189)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>Deferred tax income (expense)</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;3,427,091 </B></FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;(4,366,745) </B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>2,260,495</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>Net deferred tax liability</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;(83,226,137) </B></FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;(86,653,228) </B></FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 3pt Times New Roman,serif; margin: 2.4pt 0 3pt"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: top; width: 56%; padding-right: 2.15pt; padding-left: 2.15pt">
    <P STYLE="font: 7pt Times New Roman,serif; margin: 2.4pt 0 3pt"><B>Reconciliation of net deferred tax liability</B></P>
    <P STYLE="font: 7pt Times New Roman,serif; margin: 0">&nbsp;</P></TD>
    <TD STYLE="width: 14%; border-bottom: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 14%; border-bottom: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt">
    <P STYLE="font: 7pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD>
    <TD STYLE="width: 1%; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 14%; border-bottom: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt">
    <P STYLE="font: 7pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2022</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>Balance at the beginning of the fiscal year</B></FONT></TD>
    <TD STYLE="padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>(86,653,228)</B></FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>(82,286,483) </B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>(84,546,978)</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Income (expense) recognized in income (loss) during the fiscal year</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;</B>3,427,091</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">(4,366,745) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">2,260,495</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>Balance at the closing of the fiscal year</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>(83,226,137) </B></FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>(86,653,228) </B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>(82,286,483)</B></FONT></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 7pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 7pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B><U>Action for declaration of Certainty and Unconstitutionality</U></B></P>

<P STYLE="font: 2pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>i)</B></TD><TD STYLE="text-align: justify"><B><U>Distribuidora de Gas del Centro S.A.</U></B></TD></TR></TABLE>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On April 5, 2021, the Company filed a declaratory action of
certainty and unconstitutionality against the Executive Branch (&#8220;PEN&#8221;) and the Federal Administration of Public Revenues (&#8220;AFIP&#8221;),
requesting the inapplicability and/or unconstitutionality of Section 93 and 104 of the General Law of the General Income Tax Act (&#8220;LIG&#8221;)
and other related regulations that in any way limit, restrict, defer and/or prevent full and undeferral application of the inflation adjustment
mechanism provided for the LIG in the Income Tax Return corresponding to the fiscal year 2020.</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On April 3, 2024, a first instance judgment was issued upholding
the declaratory action filed by the Company. The AFIP and the Executive Branch appealed the same on April 8, 2024. The appeal was granted
by the Court, and the file was referred to the Chamber.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On May 8, 2024, the Chamber served notice to the defendants
to express their grievances. However, after the deadline expired, they did not file a notice, and the Court declared appealing void. This
final ruling was notified to the parties on May 31, 2024, thus making the judgment of the court of first instance, which allowed the company
to apply the comprehensive inflation adjustment, final.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Additionally, the Company requested the issuance of an injunction
ordering AFIP to refrain from challenging the full and undeferred application of the inflation adjustment in the Income Tax Return for
the 2020 fiscal year. Failure to do so would result in the Company&#8217;s nominal profits being taxed rather than the results actually
obtained, generating a confiscatory tax that affects the property rights enshrined in the National Constitution. The measure was granted
on May 11, 2024, upon a new request for an extension, the Court ruled that, having issued a final judgment in favor of the planiff, the
injunction was subsumed under the merits of the matter.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On April 4, 2022, the Company filed a declaratory action of
certainty and unconstitutionality against the Executive Branch and the AFIP (Federal Administration of Public Revenues), requesting the
inapplicability and/or unconstitutionality of Articles 93 and 194 of the LIG (General Law of the General Income Tax Act) and other related
regulations that in any way limit, restrict, defer, and/or prevent the full application of the inflation adjustment mechanisms provided
for in the LIG (General Law of the General Income Tax Act) in the Income Tax return corresponding to fiscal year 2021. On March 25, 2024,
a first instance judgment was issued, allowing the declaratory action of certainty filed by the Company. This judgment was notified to
the parties on March 25, 2024, and appealed by the defendants. On May 17, 2024, the court ordered the referral of the case to the Chamber
of Deputies. On October 28, 2024, the case file was forwarded to the Court of Appeals. On November 4, 2024, the court notified the parties
of the panel's composition and the defendants' request to express their grievances. Both parties responded to the grievances, and on December
10, 2024, the Court deemed the grievances answered and ordered the case to be forwarded to the Court for resolution, notifying the court
on December 12, 2024. On 06/02/2025, the file was sent to the Federal Court of C&oacute;rdoba &#8211; Room A. The file is currently in
the court of origin for prompt resolution.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Additionally, the Company requested the issuance of an injunction
ordering the AFIP (Federal Administration of Public Works) to refrain from challenging the full application of the inflation adjustment
in the Income Tax Return for the 2021 fiscal year, which was granted on May 10, 2022.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On April 3, 2023, the Company filed a declaratory action of
certainty and unconstitutionality against the Executive Branch and the AFIP, requesting the inapplicability and/or unconstitutionality
of the sections mentioned in the preceding paragraphs of the General Law of the General Income Tax Act and other related regulations that
in any way limit, restrict, defer, and/or prevent the full application of the inflation adjustment mechanisms in the Income Tax Return
for the 2022 fiscal year.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On May 12, 2023, the resolution granting the injunction in
favor of the Company was issued for the tax. The 2022 fiscal year earnings action is pending resolution as of the date of issuance of
these financial statements. On April 16, 2024, the company requested service of process for the parties to argue on the evidence offered
and produced in the case. On June 4, the process of service was again requested and submitted.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On July 30, 2024, the defendant filed its arguments. On August
9, 2024, the court ordered the court to issue a ruling. Finally, on December 20, 2024, the court ruled in favor of the application of
the comprehensive inflation adjustment applied by the company. On February 3, 2025, the defendant filed an appeal, which was granted by
the court. On February 18, 2025, the court ordered the proceedings to be admitted to Division B and gave the defendant a hearing to express
its grievances.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On April 3, 2025, the Company filed a declaratory action for
certainty and unconstitutionality against the Executive Branch (PEN) and the ARCA (Arca), requesting the inapplicability and/or unconstitutionality
of Articles 93 and 194 of the General Tax Law (LIG) and other related regulations that in any way limit, restrict, defer, and/or prevent
the full application of the inflation adjustment mechanisms provided for in the General Tax Law (LIG) in the Income Tax return for the
2024 fiscal year.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Additionally, the Company requested the issuance of a precautionary
measure ordering the ARCA to refrain from challenging the full and undeferred application of the inflation adjustment in the Income Tax
return for the 2024 fiscal year. Failure to implement this adjustment would result in the Company's nominal profits being taxed, rather
than the results actually obtained, generating a confiscatory tax that infringes the right to exercise its functions. property rights
enshrined in the National Constitution. On May 13, 2025, the precautionary measure requested in this case by the plaintiff was granted.
This ruling was notified on May 15, 2025, and was not appealed in a timely manner; therefore, it is final.</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 2pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>ii)</B></TD><TD STYLE="text-align: justify"><B><U>Distribuidora de Gas Cuyana S.A.</U></B></TD></TR></TABLE>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On April 9, 2021, the Company filed a declaratory action of
certainty and unconstitutionality against the Executive Branch (&#8220;PEN&#8221;) and the Federal Administration of Public Revenues (&quot;AFIP&quot;),
requesting the inapplicability and/or unconstitutionality of the first paragraph of Art. No. 93 and the first paragraph of Art. No. 194
of the General Law of the General Income Tax Act (&quot;LIG&quot;) - consolidated text 2019 and its amendments, Art. No. 39 of Law No.
24,073, Art. No. 7 and 10 of Law No. 23,928 and other related regulations that in any way limit, restrict, defer and/or prevent the comprehensive
and non-deferrable application of the inflation adjustment mechanisms provided for in the LIG (Law No. 20,628 - t.o. 2019 and its amendments)
in the Income Tax return corresponding to fiscal year 2020. On December 21, 2023, the Supreme Court of Justice of the Nation (&quot;SCJN&quot;)
rejected the appeal filed by AFIP-PEN, thus confirming the inadmissibility of the extraordinary appeal duly filed by the defendants, giving
rise to the full application of the inflation adjustment by Distribuidora de Gas Cuyana S.A. for fiscal year 2020.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">For fiscal year 2021, the Company filed a declaratory action
of certainty and unconstitutionality against the PEN and AFIP on April 1, 2022, requesting the inapplicability and/or unconstitutionality
of the first paragraph of Articles 93 and 194 of the LIG (General Law of the General Income Tax Act), along with the issuance of a precautionary
measure ordering AFIP to refrain from challenging the full application of the inflation adjustment in the Income Tax Return. On May 6,
2022, a resolution was issued granting the Company an injunction for income tax for the 2021 fiscal year. An official expert was subsequently
appointed to conduct the evidentiary phase, which was completed on September 8, 2023, with the submission of the expert report. On February
8, 2024, a first-instance judgment was issued, upholding the Company's claim and, consequently, declaring the inapplicability of Article
93 of the General Tax Law and other related regulations for the period corresponding to fiscal year 2021. On February 26, 2024, AFIP appealed
the court's first ruling.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On September 9, 2024, the Court of Appeals issued a ruling
rejecting the AFIP's appeal and upholding the first instance ruling. On September 26, 2024, the defendant filed an Extraordinary Federal
Appeal before the Court, which ordered that it be served on the plaintiff within 10 days. On October 8, 2024, the defendant filed a brief
response to the appeal, which was considered by the court, and the court proceeded to decide on its formal admission. The file is currently
in Chamber 2.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On April 3, 2023, the Company filed a declaratory action of
certainty and unconstitutionality against the Executive Branch and the AFIP (Federal Administration of Public Revenues), requesting the
inapplicability and/or unconstitutionality of the articles mentioned in the preceding paragraphs of the General Law of the General Income
Tax Act (&#8220;LIG&#8221;) and other related regulations that in any way limit, restrict, defer, and/or prevent the full application
of the inflation adjustment mechanisms in the Income Tax return for fiscal year 2022. On May 5, 2023, a resolution granting the precautionary
measure in favor of the Company for income tax for fiscal year 2022 was issued. This declaratory action of certainty is pending resolution
as of the date of issuance of these financial statements. On April 12, 2024, the final meeting of the evidentiary phase was held, where
the next step is the presentation of the expert report by the official expert. On July 8, AFIP filed a challenge to the expert report,
to which the company responded.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On September 5, 2024, the closure of the evidentiary period
and the release of the case file for arguments were requested.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Subsequently, on October 7, 2024, the arguments were submitted
along with a written request for the release of the case file for ruling. Finally, on February 3, 2025, a first-instance judgment was
issued, upholding the company's claim for fiscal year 2022. On February 7, 2025, the defendant filed an appeal against the mentioned judgment,
which was granted, and the case file was ordered to be forwarded to the Court of Appeals. The case file is currently being heard on the
appeal filed by ARCA.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On April 3, 2025, the Company filed a declaratory action for
certainty and unconstitutionality against the Executive Branch (PEN) and the ARCA (Arca), requesting the inapplicability and/or unconstitutionality
of Articles 93 and 194 of the General Tax Law (LIG) and other related regulations that in any way limit, restrict, defer, and/or prevent
the full application of the inflation adjustment mechanisms provided for in the General Tax Law (LIG) in the Income Tax return for the
2024 fiscal year.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Additionally, the Company requested the issuance of a precautionary
measure ordering the ARCA to refrain from challenging the full and undeferred application of the inflation adjustment in the Income Tax
return for the 2024 fiscal year. Failure to implement this adjustment would result in the Company's nominal profits being taxed, rather
than the results obtained, generating a confiscatory tax that infringes the right to exercise its functions. of property embodied in the
National Constitution.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On May 12, 2025, the precautionary measure requested in the
case file by the plaintiff was granted with devolutionary effect.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On May 14, 2025, ARCA filed an appeal against the interlocutory
order granting the precautionary measure, requesting that it be granted with suspensive effect. The court granted the appeal, referring
to the case law of the Mendoza Court of Appeals. To request that the devolutionary effect of the previously granted measure be granted,
on May 26, 2025, a complaint was filed with the Court of Appeals challenging the suspensive nature of the appeal, requesting that it be
revoked and that it be granted with devolutionary effect instead. On June 5, 2025, the Court of Appeals decided to grant the complaint
appeal, reversing the first-instance ruling.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 1pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B><U>NOTE 9. EARNING PER SHARE</U></B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Income (loss) per basic share is calculated by dividing the
net income (loss) for the fiscal year by the weighted average of outstanding common shares during the fiscal year.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">There are no transactions or concepts which generate a dilutive
effect.</P>

<P STYLE="font: 3pt/115% Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 3pt Arial,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: top; width: 62%; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Net income (loss) per share</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 12%; border-bottom: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD>
    <TD STYLE="width: 1%; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 12%; border-bottom: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2022</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 2.15pt; padding-left: 21.3pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">- Basic and diluted</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 2.15pt; padding-left: 21.3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">1,656.03</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.15pt; padding-left: 21.3pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">1,258.61</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">(256.42)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Weighted average of common shares attributable to basic income (loss) per share</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>14,178,732</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>14,178,732</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>14,178,732</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman,serif; margin: 0; text-align: justify">As is mentioned in Note 17, during January 2025 the Company
proposed a Swap Offer to the owners of non-controlling interest of DGC and DGCU. The Swap Offer remained open from December 20, 2024,
until January 13, 2025. The liquidation date was January 17, 2025. As a result of this liquidation, as from January 17, 2025, the Company&acute;s
shares amounted to 22,923,058. The abovementioned transaction did not affect the earnings per share as of December 31, 2024.</P>

<P STYLE="font: 5pt/115% Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Times New Roman,serif; margin: 0; text-align: justify"><B><U>NOTE 10. PROPERTY, PLANT AND EQUIPMENT</U></B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Balances of this item as of December 31, 2024, are as follows:</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD ROWSPAN="2" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>MAIN ACCOUNT</B></FONT></TD>
    <TD COLSPAN="5" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>ORIGIN VALUES</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 5pt"><B>AT THE BEGINNING OF THE FISCAL YEAR</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 5pt"><B>INCREASES</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 5pt"><B>DERECOGNITIONS</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 5pt"><B>TRANSFERENCES</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 5pt"><B>AT YEAR-END</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="width: 40%; border-left: black 1pt solid; border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Lands </FONT></TD>
    <TD STYLE="width: 12%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,028,234 </FONT></TD>
    <TD STYLE="width: 12%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;16,961 </FONT></TD>
    <TD STYLE="width: 12%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="width: 12%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="width: 12%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,045,195 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Buildings and civil works</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;12,474,173 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;138,499 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,307 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;12,613,979 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Building installations</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;9,540,823 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;130,426 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(7,726) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;9,663,523 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Gas pipelines </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;187,901,822 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;841,654 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(66,010) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;188,677,466 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">High-pressure pipeline branches</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;95,916,096 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(47,112) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;95,868,985 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Medium and low-pressure pipelines and networks</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;366,935,237 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,810,927 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(31,750) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,359 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;369,715,773 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Compressor stations</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;12,522,327 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(6) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(33,701) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;12,488,620 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Pressure regulation and measuring station</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;65,697,967 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;530,963 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(19,279) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(4) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;66,209,647 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Consumption measuring installations</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;76,890,187 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;40,349 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(718,466) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,234,007 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;78,446,077 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Other technical installations</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;32,118,019 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,441,922 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;3,547 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;33,563,488 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Machines, equipment and tools</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;15,789,653 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;732,382 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(34,980) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;16,487,055 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">IT and telecommunication systems</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;35,787,695 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;3,027,956 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(326,342) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;38,489,309 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Vehicles</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;6,773,043 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;662,474 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(126,238) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;7,309,279 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Furniture and fixtures</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,876,722 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;37,834 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,914,556 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Materials</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,477,416 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;4,562,623 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(837,760) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(2,240,725) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,961,554 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Line pack</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;537,422 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;997,653 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(290,630) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,244,445 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Ongoing works</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;6,526,020 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;181,971 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;509 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;6,708,500 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>TOTAL AS OF 12.31.2024</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;931,792,856 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;16,154,589 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;(2,539,994) </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;- </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;945,407,451 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 13pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>



<!-- Field: Page; Sequence: 42 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR><TR><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: center">&nbsp;F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->32<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 100%">&nbsp;<IMG SRC="cepu202506196k_001.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center"><P STYLE="font: 12pt Cambria,serif; margin: 0; text-align: center; border-bottom: #BFBFBF 0.5pt solid"><B>ECOGAS INVERSIONES S.A.</B></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD ROWSPAN="3" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 0.05in; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>MAIN ACCOUNT</B></FONT></TD>
    <TD COLSPAN="5" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 0.05in; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; text-indent: -3.5pt"><FONT STYLE="font-size: 7pt"><B>DEPRECIATIONS </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>NET BALANCES</B></FONT></TD></TR>
  <TR>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: -3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 5pt"><B>ACCUMULATED AT THE BEGINNING OF THE FISCAL YEAR</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: -3.45pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 5pt"><B>DERECOGNITIONS</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 5pt"><B>FOR THE FY</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: -3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 5pt"><B>ACCUMULATED AT YEAR-END</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.65pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 5pt"><B>As of December 31, 2024</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: center"><B>RATE</B></P>
    <P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: center"><B>%</B></P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: -3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 5pt"><B>AMOUNT</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="width: 36%; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Lands </FONT></TD>
    <TD STYLE="width: 11%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="width: 10%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="width: 8%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="width: 11%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="width: 13%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="width: 11%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,045,195 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Buildings and civil works</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;4,077,990 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">2</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;263,330 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;4,341,320 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;8,272,659 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Building installations</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;5,396,054 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(7,031) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">2 to 20</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;266,484 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;5,655,507 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;4,008,016 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Gas pipelines </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;102,702,706 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(733) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">2 to 100</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;4,155,878 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;106,857,851 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;81,819,615 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">High-pressure pipeline branches</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;59,949,121 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(41,298) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">2 to 100</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,958,141 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;61,865,964 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;34,003,021 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Medium and low-pressure pipelines and networks</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;208,257,356 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(25,137) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">2 to 100</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;8,039,300 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;216,271,519 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;153,444,254 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Compressor stations</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,049,444 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(7,778) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">33 to 100</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;38,377 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,080,043 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;11,408,577 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Pressure regulation and measuring station</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;37,391,714 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(14,825) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">33 to 100</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,046,715 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;39,423,604 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;26,786,043 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Consumption measuring installations</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;59,122,403 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(709,347) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">33 to 100</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,228,432 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;60,641,488 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;17,804,589 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Other technical installations</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;19,733,242 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">2 to 100</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,357,360 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;21,090,602 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;12,472,886 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Machines, equipment and tools</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;9,675,747 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(21,155) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">10</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,297,276 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;10,951,868 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;5,535,187 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">IT and telecommunication systems</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;27,787,113 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(274,720) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">10 to 33</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,344,017 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;29,856,410 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;8,632,899 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Vehicles</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;6,028,768 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(106,555) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">20 to 100</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;294,367 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;6,216,580 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,092,699 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Furniture and fixtures</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,519,635 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">5 to 100</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;101,460 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,621,095 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;293,461 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Materials</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,961,554 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Line pack</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,244,445 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Ongoing works</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;6,708,500 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>TOTAL AS OF 12.31.2024 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;543,691,293 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;(1,208,579) </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;24,391,137 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;566,873,851 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;378,533,600 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Balances of this item as of December 31, 2023, are as follows:</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD ROWSPAN="2" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>MAIN ACCOUNT</B></FONT></TD>
    <TD COLSPAN="5" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>ORIGIN VALUES</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 5pt"><B>AT THE BEGINNING OF THE FISCAL YEAR</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 5pt"><B>INCREASES</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 5pt"><B>DERECOGNITIONS</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 5pt"><B>TRANSFERENCES</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 5pt"><B>AT YEAR-END</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; width: 41%; border-left: black 1pt solid; border-right: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Lands </FONT></TD>
    <TD STYLE="width: 11%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,028,234 </FONT></TD>
    <TD STYLE="width: 13%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="width: 11%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="width: 13%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="width: 11%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,028,234 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Buildings and civil works</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;12,472,198 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,975 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;12,474,173 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Building installations</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;9,478,244 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;62,908 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(329) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;9,540,823 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Gas pipelines </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;187,231,700 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;730,787 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(60,665) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;187,901,822 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">High-pressure pipeline branches</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;95,370,896 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;653,434 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(109,259) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,025 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;95,916,096 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Medium and low-pressure pipelines and networks</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;362,688,031 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,388,668 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(17,623) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,876,161 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;366,935,237 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Compressor stations</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;12,522,327 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;12,522,327 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Pressure regulation and measuring station</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;65,634,193 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;244,328 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(182,679) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,125 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;65,697,967 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Consumption measuring installations</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;76,498,651 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;11,085 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(419,354) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;799,805 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;76,890,187 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Other technical installations</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;31,098,780 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,016,423 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,816 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;32,118,019 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Machines, equipment and tools</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;14,139,059 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,659,363 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(8,769) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;15,789,653 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">IT and telecommunication systems</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;34,823,133 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,278,684 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(314,122) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;35,787,695 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Vehicles</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;6,839,120 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;36,644 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(102,721) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;6,773,043 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Furniture and fixtures</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,866,567 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;19,220 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(9,065) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,876,722 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Materials</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,046,088 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,109,044 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(873,709) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(804,007) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,477,416 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Line pack</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,041,114 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;203,096 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(706,788) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;537,422 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Ongoing works</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;8,373,869 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;465,067 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(434,991) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(1,877,925) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;6,526,020 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>TOTAL AS OF 12.31.2023 </B></FONT><FONT STYLE="font-size: 5pt">(unaudited)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;925,152,204 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;9,880,726 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;(3,240,074) </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;- </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;931,792,856 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 3pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD ROWSPAN="3" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 0.05in; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>MAIN ACCOUNT</B></FONT></TD>
    <TD COLSPAN="5" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 0.05in; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; text-indent: -3.5pt"><FONT STYLE="font-size: 7pt"><B>DEPRECIATIONS</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>NET BALANCES</B></FONT></TD></TR>
  <TR>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: -3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 5pt"><B>ACCUMULATED AT THE BEGINNING OF THE FISCAL YEAR</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: -3.45pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 5pt"><B>DERECOGNITIONS</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 5pt"><B>FOR THE FY</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: -3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 5pt"><B>ACCUMULATED AT THE END OF THE FISCAL YEAR</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.65pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 5pt"><B>As of December 31, 2023</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: center"><B>RATE</B></P>
    <P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: center"><B>%</B></P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: -3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 5pt"><B>AMOUNT</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="width: 36%; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Lands </FONT></TD>
    <TD STYLE="width: 10%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="width: 10%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="width: 9%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="width: 11%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="width: 13%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="width: 11%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,028,234 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Buildings and civil works</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;3,815,529 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">2</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;262,461 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;4,077,990 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;8,396,183 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Building installations</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;5,132,390 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(329) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">2 to 20</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;263,993 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;5,396,054 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;4,144,769 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Gas pipelines </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;98,598,078 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(46,987) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">2 to 100</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;4,151,615 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;102,702,706 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;85,199,116 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">High-pressure pipeline branches</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;58,014,025 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(41,956) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">2 to 100</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,977,052 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;59,949,121 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;35,966,975 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Medium and low-pressure pipelines and networks</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;200,224,163 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(9,446) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">2 to 100</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;8,042,639 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;208,257,356 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;158,677,881 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Compressor stations</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,010,981 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">33 to 100</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;38,463 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,049,444 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;11,472,883 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Pressure regulation and measuring station</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;35,212,984 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(32,417) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">33 to 100</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,211,147 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;37,391,714 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;28,306,253 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Consumption measuring installations</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;57,187,984 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(412,823) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">33 to 100</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,347,242 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;59,122,403 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;17,767,784 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Other technical installations</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;18,358,044 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">2 to 100</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,375,198 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;19,733,242 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;12,384,777 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Machines, equipment and tools</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;8,433,661 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(7,217) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">10</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,249,303 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;9,675,747 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;6,113,906 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">IT and telecommunication systems</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;25,216,626 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(282,696) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">10 to 33</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,853,183 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;27,787,113 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;8,000,582 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Vehicles</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;5,759,303 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(101,798) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">20 to 100</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;371,263 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;6,028,768 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;744,275 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Furniture and fixtures</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,417,708 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(8,909) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">5 to 100</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;110,836 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,519,635 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;357,087 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Materials</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,477,416 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Line pack</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;537,422 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Ongoing works</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;6,526,020 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>TOTAL AL 12.31.2023 </B></FONT><FONT STYLE="font-size: 5pt">(unaudited)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;519,381,476 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;(944,578) </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;25,254,395 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;543,691,293 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;388,101,563 </B></FONT></TD></TR>
  </TABLE>

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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR><TR><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: center">&nbsp;F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->33<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 100%">&nbsp;<IMG SRC="cepu202506196k_001.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center"><P STYLE="font: 12pt Cambria,serif; margin: 0; text-align: center; border-bottom: #BFBFBF 0.5pt solid"><B>ECOGAS INVERSIONES S.A.</B></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B><U>NOTE 11. INVESTMENT PROPERTIES</U></B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Balances of this item as of December 31, 2024, are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD ROWSPAN="3" STYLE="border: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>MAIN ACCOUNT</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>ORIGIN VALUE</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 10.7pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>DEPRECIATION</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>NET BALANCE</B></FONT></TD></TR>
  <TR>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>AT THE BEGINNING OF THE FISCAL YEAR</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>INCREASES</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>AT YEAR-END</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 0.05in; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>ACCUMULATED AT THE BEGINNING OF THE FISCAL YEAR</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>FOR THE FY</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>ACCUMULATED AT YEAR-END</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>As of December 31, 2024</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center"><B>RATE</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center; text-indent: -0.05pt"><B>%</B></P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>AMOUNT</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="width: 19%; border-left: black 1pt solid; border-right: black 1pt solid; padding-right: -0.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Buildings</FONT></TD>
    <TD STYLE="width: 11%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,368,432</FONT></TD>
    <TD STYLE="width: 10%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="width: 10%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,368,432</FONT></TD>
    <TD STYLE="width: 11%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;437,593 </FONT></TD>
    <TD STYLE="width: 7%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">2</FONT></TD>
    <TD STYLE="width: 8%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;107,369 </FONT></TD>
    <TD STYLE="width: 11%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;544,962 </FONT></TD>
    <TD STYLE="width: 13%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;4,823,470 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border: black 1pt solid; padding-right: -3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt"><B>TOTAL AS OF 12.31.2024 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;5,368,432 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;- </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;5,368,432 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;437,593 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;107,369 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;544,962 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;4,823,470 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 7pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Balances of this item as of December 31, 2023, are as follows</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD ROWSPAN="3" STYLE="border: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>MAIN ACCOUNT</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>ORIGIN VALUE</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 10.7pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>DEPRECIATION</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>NET BALANCE</B></FONT></TD></TR>
  <TR>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>AT THE BEGINNING OF THE FISCAL YEAR</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>INCREASES</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>AT YEAR-END</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 0.05in; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>ACCUMULATED AT THE BEGINNING OF THE FISCAL YEAR</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>FOR THE FY</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>ACCUMULATED AT YEAR-END</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center"><B>As of December 31, 2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center"><B>RATE</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center; text-indent: -0.05pt"><B>%</B></P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>AMOUNT</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="width: 19%; border-left: black 1pt solid; border-right: black 1pt solid; padding-right: -0.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Buildings</FONT></TD>
    <TD STYLE="width: 11%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;5,368,432 </FONT></TD>
    <TD STYLE="width: 10%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;- </FONT></TD>
    <TD STYLE="width: 10%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;5,368,432 </FONT></TD>
    <TD STYLE="width: 11%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;330,224</FONT></TD>
    <TD STYLE="width: 7%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">2</FONT></TD>
    <TD STYLE="width: 8%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;107,369&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="width: 11%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;437,593 </FONT></TD>
    <TD STYLE="width: 13%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;4,930,839 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border: black 1pt solid; padding-right: -3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt"><B>TOTAL AS OF 12.31.2023</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;5,368,432 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;- </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;5,368,432 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;330,224 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;107,369 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;437,593 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;4,930,839 </B></FONT></TD></TR>
  </TABLE>

<!-- Field: Page; Sequence: 44 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR><TR><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: center">&nbsp;F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->34<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 100%">&nbsp;<IMG SRC="cepu202506196k_001.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center"><P STYLE="font: 12pt Cambria,serif; margin: 0; text-align: center; border-bottom: #BFBFBF 0.5pt solid"><B>ECOGAS INVERSIONES S.A.</B></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B><U>NOTE 12. INTANGIBLE ASSETS</U></B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Balances of this item as of December 31, 2024, are as follows:</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD ROWSPAN="3" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>MAIN ACCOUNT</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; padding-right: 10.7pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>ORIGIN VALUE</B></FONT></TD>
    <TD COLSPAN="5" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 10.7pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>AMORTIZATIONS</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>NET BALANCES</B></FONT></TD></TR>
  <TR>
    <TD ROWSPAN="2" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>AT THE BEGINNING OF THE FISCAL YEAR</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>INCREASES</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>DERECOGNITIONS</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>AT YEAR-END</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 0.05in; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>ACCUMULATED AT THE BEGINNING OF THE FISCAL YEAR</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>DERECOGNITIONS</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>FOR THE FY</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>ACCUMULATED AT YEAR-END</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>As of December 31, 2024</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center"><B>RATE</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center; text-indent: -0.05pt"><B>%</B></P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>AMOUNT</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="width: 21%; border-left: black 1pt solid; border-right: black 1pt solid; padding-right: -0.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Software licenses</FONT></TD>
    <TD STYLE="width: 7%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;13,489,514 </FONT></TD>
    <TD STYLE="width: 6%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;591,870 </FONT></TD>
    <TD STYLE="width: 10%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(61,926) </FONT></TD>
    <TD STYLE="width: 6%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;14,019,458 </FONT></TD>
    <TD STYLE="width: 10%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;12,603,781 </FONT></TD>
    <TD STYLE="width: 10%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(61,860) </FONT></TD>
    <TD STYLE="width: 5%; border-right: black 1pt solid; padding-right: 5.45pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">20</FONT></TD>
    <TD STYLE="width: 6%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;517,165 </FONT></TD>
    <TD STYLE="width: 9%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;13,059,086 </FONT></TD>
    <TD STYLE="width: 10%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;960,372 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: -0.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Systems development</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;15,873,184 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;666,953 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(109,452) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;16,430,685 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;14,521,156 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(109,449) </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.45pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">20</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;504,255 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;14,915,962 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,514,723 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: -0.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Organization expenses and others</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;139,385 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;139,385 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;139,385 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.45pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">20</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;139,385 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: -0.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Networks concession</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,199,592 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;17,835 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,217,427 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;792,326 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.45pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">7</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;30,831 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;823,157 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;394,270 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt"><B>TOTAL AS OF 12.31.2024</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;30,701,675 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;1,276,658 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;(171,378) </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;31,806,955 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;28,056,648 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;(171,309) </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.45pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>1,052,251 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;28,937,590 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;2,869,365 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Balances of this item as of December 31, 2023, are as follows:</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD ROWSPAN="3" STYLE="border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>MAIN ACCOUNT</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 10.7pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>ORIGIN VALUE</B></FONT></TD>
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 10.7pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>AMORTIZATIONS</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>NET BALANCES</B></FONT></TD></TR>
  <TR>
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>AT THE BEGINNING OF THE FISCAL YEAR</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>INCREASES</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>DERECOGNITIONS</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>AT YEAR-END</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 0.05in; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>ACCUMULATED AT THE BEGINNING OF THE FISCAL YEAR</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>DERECOGNITIONS</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>FOR THE FY</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>ACCUMULATED AT YEAR-END</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center"><B>As of December 31, 2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center"><B>RATE</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center; text-indent: -0.05pt"><B>%</B></P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 6pt"><B>AMOUNT</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="width: 21%; border-left: black 1pt solid; border-right: black 1pt solid; padding-right: -0.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Software licenses</FONT></TD>
    <TD STYLE="width: 7%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;12,991,959 </FONT></TD>
    <TD STYLE="width: 6%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;498,844 </FONT></TD>
    <TD STYLE="width: 10%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(1,289) </FONT></TD>
    <TD STYLE="width: 6%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;13,489,514 </FONT></TD>
    <TD STYLE="width: 10%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;12,069,739 </FONT></TD>
    <TD STYLE="width: 10%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(220) </FONT></TD>
    <TD STYLE="width: 5%; border-right: black 1pt solid; padding-right: 5.45pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">20</FONT></TD>
    <TD STYLE="width: 6%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;534,262 </FONT></TD>
    <TD STYLE="width: 9%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;12,603,781 </FONT></TD>
    <TD STYLE="width: 10%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;885,733 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: -0.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Systems development</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;15,127,878 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;745,306 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;15,873,184 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;14,013,534 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.45pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">20</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;507,622 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;14,521,156 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,352,028 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: -0.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Organization expenses and others</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;139,385 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;139,385 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;139,284 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.45pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">20</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;101 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;139,385 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: -0.55pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Networks concession</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;765,162 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;434,430 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,199,592 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;762,387 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.45pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt">7</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;29,939 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;792,326 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;407,266 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 6pt"><B>TOTAL AS OF 12.31.2023</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;29,024,384 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;1,678,580 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;(1,289) </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;30,701,675 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;26,984,944 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;(220) </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.45pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>1,071,924 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;28,056,648 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;2,645,027 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 45 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR><TR><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: center">&nbsp;F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->35<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 100%">&nbsp;<IMG SRC="cepu202506196k_001.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center"><P STYLE="font: 12pt Cambria,serif; margin: 0; text-align: center; border-bottom: #BFBFBF 0.5pt solid"><B>ECOGAS INVERSIONES S.A.</B></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B><U>NOTE 13. FINANCIAL ASSETS AND LIABILITIES</U></B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B><U>13.1 Trade receivables and other receivables</U></B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: justify"><B>Non-current</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="width: 63%; padding-right: 2.9pt; padding-left: 17.1pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 18%; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 18%; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 2.9pt; padding-left: 17.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Miscellaneous</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">29</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">63</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 2.9pt; padding-left: 7.1pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>29</B></FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>63</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: justify"><B>Current</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 35.45pt; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="width: 63%; padding-right: 2.9pt; padding-left: 17.1pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 18%; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 18%; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 2.9pt; padding-left: 17.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Trade receivables</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;63,004,940 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;24,550,923 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 2.9pt; padding-left: 17.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Transactions on behalf of third parties</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;8,382,563 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;14,646,699 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 2.9pt; padding-left: 17.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Trade receivable from the Argentine government</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;17,741,204 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;14,565,973 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 2.9pt; padding-left: 17.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Related parties (Note 16.1)</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;1,686,676 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;1,221,573 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 2.9pt; padding-left: 17.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Employees receivables</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;7,656 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;8,445 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 2.9pt; padding-left: 17.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Security deposits</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;10 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;22 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 2.9pt; padding-left: 17.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Miscellaneous</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;3,380,440 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;1,589,952 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 2.9pt; padding-left: 17.1pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;94,203,489 </B></FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;56,583,587 </B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 2.9pt; padding-left: 17.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Provisions for doubtful debts </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(4,272,472) </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(4,973,553) </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 2.9pt; padding-left: 17.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Provisions for other doubtful debts</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(141,725) </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(117,678) </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 2.9pt; padding-left: 7.1pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;(4,414,197) </B></FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;(5,091,231) </B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 2.9pt; padding-left: 7.1pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;89,789,292 </B></FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;51,492,356 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The aging of trade receivables and other receivables is as
follows:</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="12" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>Due</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 22%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 12%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>Total</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 12%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>&lt;90 days</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 12%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>91-180 days</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 12%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>181-270 days</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 12%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>271-360 days</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 12%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>&gt;360 days</B></FONT></TD>
    <TD STYLE="width: 1%; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;14,343,140 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;10,778,677 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;1,559,727 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;318,051 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;145,087 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;1,541,598 </FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>12.31.2023</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;12,896,933 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;7,948,054 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;1,073,630 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;345,753 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;204,307 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;3,325,189 </FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 35.45pt; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>To become due</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 21%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 12%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>Total</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>No term</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>&lt;90 days</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>91-180 days</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>181-270 days</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>271-360 days</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>&gt;360 days</B></FONT></TD>
    <TD STYLE="width: 1%; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;79,860,378 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;79,860,349 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;29 </FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>12.31.2023</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;43,686,717 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;43,686,654 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;63 </FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 7pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: justify"><B>Value impairment of trade receivables and other receivables</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: top; width: 77%; padding-top: 2.4pt; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Provisions for doubtful debts</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 3%; padding-top: 1.2pt; padding-bottom: 2.4pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 20%; border-bottom: black 1pt solid; padding-top: 1.2pt; padding-bottom: 2.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-top: 1.2pt; padding-bottom: 2.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Balance as of December 31, 2022 </B></FONT><FONT STYLE="font-size: 6pt">(unaudited)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.2pt; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.05pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;17,523,930 </B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-bottom: 2.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Charges for the FY (Note 5)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.2pt; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.05pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;460,155 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-bottom: 2.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Recovery (Note 5)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.2pt; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.05pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(722,281) </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-bottom: 2.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Amounts used </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.2pt; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.05pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(98,874) </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-bottom: 2.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Loss on net monetary position</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.2pt; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.05pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(12,068,561) </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-top: 1.2pt; padding-bottom: 2.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Balance as of December 31, 2023 </B></FONT><FONT STYLE="font-size: 6pt">(unaudited)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.2pt; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 2.05pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;5,094,369 </B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-bottom: 2.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Charges for the FY (Note 5)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.2pt; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.05pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,460,504 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-bottom: 2.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Recovery (Note 5)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.2pt; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.05pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(72,813) </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-bottom: 2.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Amounts used </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.2pt; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.05pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(80,674) </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-bottom: 2.4pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Loss on net monetary position</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.2pt; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.05pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(2,987,189) </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-top: 1.2pt; padding-bottom: 2.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Balance as of December 31, 2024</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.2pt; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.05pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;4,414,197 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>



<!-- Field: Page; Sequence: 46 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR><TR><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: center">&nbsp;F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->36<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 100%">&nbsp;<IMG SRC="cepu202506196k_001.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center"><P STYLE="font: 12pt Cambria,serif; margin: 0; text-align: center; border-bottom: #BFBFBF 0.5pt solid"><B>ECOGAS INVERSIONES S.A.</B></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B><U>13.2 Other financial assets </U></B></P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: justify"><B>Non-current</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="width: 63%; padding-top: 1pt; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 18%; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 18%; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Financial assets available for sale</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 2.9pt; padding-left: 17.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Miscellaneous credits</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;3,138 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 2.9pt; padding-left: 17.8pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Provisions for other doubtful debts</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">(3,138)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 2.9pt; padding-left: 17.8pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: justify"><B>Current</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 35.45pt; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.85pt; font-family: Times New Roman,serif; width: 63%"><FONT STYLE="font-size: 8pt">Financial assets at fair value with changes in income (loss)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center; width: 18%"><FONT STYLE="font-size: 8pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; width: 18%">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.85pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 2.4pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 2.4pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 2.9pt; padding-left: 21.3pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Mutual funds (Note 13.5)</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 2.4pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 2.4pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 2.4pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;3,613,584 </FONT></TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 2.9pt; padding-left: 21.3pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">US Treasury Bill (Note 13.5)</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 2.4pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;41,934,446 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 2.4pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;3,401,535 </FONT></TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 2.9pt; padding-left: 21.3pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Custodial account (Note 13.5)</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 2.4pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;684,097 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 2.4pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;56,554,726 </FONT></TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 2.9pt; padding-left: 21.3pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Local currency government bonds (Note 13.5)</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 2.4pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;38,351,190 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 2.4pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.85pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-bottom: 2.4pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;80,969,733 </B></FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-bottom: 2.4pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;63,569,845 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: top; width: 63%; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 18%; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 18%; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">&nbsp;Financial assets recorded at amortized cost</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 2.4pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 2.4pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 2.9pt; padding-left: 18.2pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Employees receivables</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.9pt; padding-bottom: 2.4pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;31,918 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.9pt; padding-bottom: 2.4pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;16,390 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.9pt; padding-bottom: 2.4pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;31,918 </B></FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.9pt; padding-bottom: 2.4pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;16,390 </B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.9pt; padding-bottom: 2.4pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;81,001,651 </B></FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.9pt; padding-bottom: 2.4pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;63,586,235 </B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-bottom: 2.4pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-bottom: 2.4pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The aging of other financial assets is as follows:</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>To become due</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 21%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>Total</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 9%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>No term</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>&lt;90 days</B></FONT></TD>
    <TD STYLE="width: 2%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 9%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>91-180 days</B></FONT></TD>
    <TD STYLE="width: 2%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>181-270 days</B></FONT></TD>
    <TD STYLE="width: 2%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>271-360 days</B></FONT></TD>
    <TD STYLE="width: 2%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 11%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>&gt;360 days</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;81,001,651 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;42,619,137 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;7,923,281 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;18,505,568 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;11,953,665 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>12.31.2023</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;63,589,373 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;3,138 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;63,542,673 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;16,730 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;20,165 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;6,667 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">- </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B><U>13.3 Trade payables and other payables</U></B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: justify"><B>Non-current</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: top; width: 64%; padding-right: 2.9pt; padding-left: 7.1pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 18%; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 17%; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 2.9pt; padding-left: 7.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Discounts to clients</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;1,936,450 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;759,974 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-top: 2.4pt; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;1,936,450 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;759,974 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: justify"><B>Current</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: top; width: 64%; padding-right: 2.9pt; padding-left: 7.1pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 18%; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 17%; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 2.9pt; padding-left: 7.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Gas supply and transport</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;70,846,846 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;22,479,205 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 2.9pt; padding-left: 7.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Operations on behalf of third parties</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;5,386,625 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;11,076,831 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 2.9pt; padding-left: 7.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Other goods and services suppliers</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;8,252,924 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;6,930,844 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 2.9pt; padding-left: 7.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Discounts to clients</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;214,843 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;102,823 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 2.9pt; padding-left: 7.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Suppliers in local currency</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;111,668 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;39,131 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 2.9pt; padding-left: 7.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Related parties (Note 16.1)</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;367,160 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 2.9pt; padding-left: 7.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Gasoducto Norte Naci&oacute;n Fideicomiso S.A. charge</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;8,732 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;25,613 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 2.9pt; padding-left: 7.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Down payments to clients</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;47,010 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;1,441,615 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 2.9pt; padding-left: 7.1pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Invoicing on behalf of IEASA</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;93 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;203 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-top: 2.4pt; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;84,868,741 </B></FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;42,463,425 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Information about the terms and conditions of liabilities
with related parties is included in Note 16.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>



<!-- Field: Page; Sequence: 47 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 100%">&nbsp;<IMG SRC="cepu202506196k_001.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center"><P STYLE="font: 12pt Cambria,serif; margin: 0; text-align: center; border-bottom: #BFBFBF 0.5pt solid"><B>ECOGAS INVERSIONES S.A.</B></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Information about the objectives and the credit risk management
policies of the Group are included in Note 20.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The aging of trade payables and other payables is as follows:</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="padding-right: 28.65pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>Due </B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 24%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 12%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>Total</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 12%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>&lt;90 days</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 12%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>91-180 days</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 12%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>181-270 days</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 12%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>271-360 days</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 11%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>&gt;360 days</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;29,224,870 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;26,427,779 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;1,847,069 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;142,024 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;63,970 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;744,028 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>12.31.2023</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;5,823,659 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;1,367,886 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;1,103,452 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;414,733 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;211,906 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;2,725,682 </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 35.45pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 35.45pt; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>To become due </B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 23%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 12%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>Total</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>No term</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>&lt;90 days</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>91-180 days</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>181-270 days</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>271-360 days</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 9%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>&gt;360 days</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;57,580,321 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;54,570,077 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;27,633 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;112,661 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;933,500 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;1,936,450 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>12.31.2023</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;37,399,740 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;33,220,913 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;134,829 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;207,131 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;3,076,893</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;759,974 </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7pt Times New Roman,serif; margin: 0 8.5pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B><U>13.4 Information about fair values</U></B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 14.2pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The book values and fair values of the financial assets and
liabilities informed in these financial statements are presented next grouped by category:</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 5.6in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>Book values</B></FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>Fair values</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 45%; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 13%; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 13%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>12.31.2023</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 13%; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 12%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>12.31.2023</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Financial assets </B></FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Trade receivables and other receivables</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;89,789,321 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;51,492,419 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;89,789,321 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;51,492,419 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Other financial assets</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;81,001,651 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;63,586,235 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;81,001,651 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;63,586,235 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Accounts receivable with related entities</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;1,073,015 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;284,804 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;1,073,015 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;284,804 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Cash and cash equivalents</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;32,895,903 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;10,180,323 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;32,895,903 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;10,180,323 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-top: 2.4pt; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Total financial assets</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;204,759,890 </B></FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;125,543,781 </B></FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;204,759,890 </B></FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;125,543,781 </B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Financial liabilities </B></FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Trade payables and other payables</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;86,805,191 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;43,223,399 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;86,805,191 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;43,223,399 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Accounts payable to related entities</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;16,148 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;16,148 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;- </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Total financial liabilities</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;86,821,339 </B></FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;43,223,399 </B></FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;86,821,339 </B></FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-bottom: 1pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;43,223,399 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The fair value of financial assets and liabilities is presented
by the amount at which the financial instrument could be exchanged at a current transaction between parties, by mutual agreement, and
not in a forced or liquidation transaction. To estimate fair value, the following methods and assumptions have been used:</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Helvetica Neue; font-size: 6pt; color: gray">&#9658;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt; color: gray">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Fair values of cash and short-term placements, current trade receivables, current trade payables and other current payables and
current debt accruing interest approximate to their book values largely due to the short-term maturities of these financial instruments.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Helvetica Neue; font-size: 6pt; color: gray">&#9658;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt; color: gray">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Fair value of mutual funds is based on the quoted prices in active markets as of the closing date of the reporting period.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>Fair value hierarchy</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The Group uses the following hierarchy to determine and disclose
fair value of financial instruments, based on the valuation technique applied:</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&#8226; Level 1: (unadjusted) quoted prices observable in
active markets, for identical assets or liabilities.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&#8226; Level 2: valuation techniques for which data and variables
which have a significant effect on the recorded fair value determination are observable directly or indirectly.</P>

<P STYLE="font: 2pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&#8226; Level 3: valuation techniques for which data and variables
which have a significant effect on the recorded fair value determination are not based on information observable in the market.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">As of December 31, 2024, the Group keeps in its balance sheet
the following financial assets measured at their fair value, classified by levels:</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 2pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 56%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>Financial assets measured at their fair value</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>Level 1</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>Level 2</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>Level 3</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Miscellaneous credits</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;31,918 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;31,918 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Financial assets measured at fair value with changes in income (loss) &#8211; Custodial account</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;684,097 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;684,097 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Financial assets measured at fair value with changes in income (loss) &#8211; Corporate bonds</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;38,351,190 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;38,351,190 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Financial assets measured at fair value with changes in income (loss) &#8211; Treasury bills</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;41,934,446 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;41,934,446 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;81,001,651 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;81,001,651 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 2pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">During the fiscal year ended December 31, 2024, there has
been no transference between the Level 1 and Level 2 hierarchies of fair value.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">As of December 31, 2023, the Group keeps in its balance sheet
the following financial assets measured at their fair value, classified by levels</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 56%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>Financial assets measured at their fair value</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>Level 1</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>Level 2</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>Level 3</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Miscellaneous credits</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;16,390 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;16,390 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Financial assets measured at fair value with changes in income (loss) &#8211; Custodial account</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;56,554,726 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;56,554,726 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Financial assets measured at fair value with changes in income (loss) &#8211; Corporate bonds</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;3,613,584 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;3,613,584 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">Financial assets measured at fair value with changes in income (loss) &#8211; Treasury bills</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;3,401,535 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;3,401,535 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;63,586,235 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;63,586,235 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">During the fiscal year ended December 31, 2023, there has
been no transference between the Level 1 and Level 2 hierarchies of fair value.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B><U>13.5 Investments in shares and serially issued securities
</U></B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD ROWSPAN="2" STYLE="border: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>MAIN ACCOUNT</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>FACE VALUE</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>VALUE RECORDED</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 61%; border-left: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Current investments</B></FONT></TD>
    <TD STYLE="width: 13%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 13%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 13%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Other financial assets in foreign currency</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Custodial account &#8211; Santander Miami Custodial</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;684,097 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;684,097 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;56,554,726 </FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Government bonds</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;38,351,190 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;38,351,190 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Mutual funds</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">3,613,584</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">US Treasury Bill</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;41,934,446 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;41,934,446 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;3,401,535 </FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Total current</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;80,969,733 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;80,969,733 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;63,569,845 </B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Total </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;80,969,733 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;80,969,733 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;63,569,845 </B></FONT></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B><U>NOTE 14. OTHER NON-FINANCIAL ASSETS AND LIABILITIES</U></B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 35.45pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B><U>14.1 Other non-financial assets</U></B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 62%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Non-current</B></FONT></TD>
    <TD STYLE="width: 18%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 18%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Expenses paid in advance</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;71,733 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;65,127 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Tax credits</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;7,361 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;10,406 </FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;79,094 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;75,533 </B></FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; width: 62%">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0"><B>&nbsp;</B></P>
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0"><B>Current</B></P></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; width: 18%">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0"><B>&nbsp;</B></P>
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0"><B>&nbsp;</B></P></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; width: 2%">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; width: 18%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Tax credits</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;1,350,613 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;2,550,281 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Expenses paid in advance</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;1,564,160 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;1,427,806 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Related parties (Note 16)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;4,189,831 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;2,363,966 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Assets with restricted availability</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;17,731 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;59,352 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Down payments to suppliers</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;2,319,589 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;1,941,246 </FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;9,441,924 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;8,342,651 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The aging of other non-financial assets is as follows:</P>

<P STYLE="font: 1pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>To become due</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; width: 27%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 12%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>Total</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 9%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>No term</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 9%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>&lt;90 days</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 9%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>91-180 days</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 9%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>181-270 days</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 9%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>271-360 days</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>&gt;360 days</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;9,521,018 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;7,361 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;6,516,196 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;2,503,776 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;249,182 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;172,770 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;71,733 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>12.31.2023</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;8,418,184 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;10,406 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;6,205,881 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;1,701,504 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;264,267 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;170,999 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;65,127 </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B><U>14.2 Inventory</U></B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 14.2pt; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="width: 63%; padding-top: 2.4pt; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 18%; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 18%; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-top: 2.4pt; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Consumables</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;667,363 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;1,026,007 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-top: 2.4pt; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;667,363 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;1,026,007 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>




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<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B><U>14.3 Other non-financial liabilities</U></B></P>

<P STYLE="font: 7pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: justify"><B>Non-current</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="width: 63%; padding-top: 2.4pt; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 18%; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 18%; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-top: 2.4pt; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Miscellaneous creditors</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;8,875 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;3,517 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-top: 2.4pt; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;8,875 </B></FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;3,517 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 1pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: justify"><B>Current</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="width: 63%; padding-top: 2.4pt; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 18%; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 18%; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-top: 2.4pt; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Declaratory action &#8211; inflation adjustment</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;4,135,382 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;5,837,788 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-top: 2.4pt; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;4,135,382 </B></FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;5,837,788</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Aging of other non-financial liabilities is as follows:</P>

<P STYLE="font: 2pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>To become due</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; width: 22%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 12%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>Total</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>No term</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>&lt;90 days</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>91-180 days</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>181-270 days</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>271-360 days</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>&gt;360 days</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;4,144,257 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;4,135,382 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;8,875 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>12.31.2023</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;5,841,305 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;5,837,788 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;3,517 </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B><U>14.4 Wages and social security contributions</U></B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: justify"><B>Non-current</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: top; width: 63%; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 18%; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-right: 2.9pt; padding-bottom: 2.4pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 18%; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-top: 2.4pt; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Compensations</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;8,343 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-top: 2.4pt; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;8,343 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: justify"><B>Current</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="width: 63%; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 18%; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 2.9pt; padding-bottom: 2.4pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 18%; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-top: 2.4pt; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Wages and social security contributions payable</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;1,084,181 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;1,104,209 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-top: 2.4pt; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Bonuses </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;2,340,083 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;1,430,161 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-top: 2.4pt; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Holidays</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;358,643 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;1,473,147 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-top: 2.4pt; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Compensations</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;116,738 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;449,674 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-top: 2.4pt; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Employees&#8217; interest bonus</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;237,403 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;142,405 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-top: 2.4pt; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;4,137,048 </B></FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;4,599,596 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The aging of wages and social security contributions is as
follows:</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>To become due</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; width: 26%">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; width: 11%"><FONT STYLE="font-size: 7pt"><B>Total</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; width: 8%"><FONT STYLE="font-size: 7pt"><B>No term</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; width: 10%"><FONT STYLE="font-size: 7pt"><B>&lt;90 days</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; width: 9%"><FONT STYLE="font-size: 7pt"><B>91-180 days</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; width: 10%"><FONT STYLE="font-size: 7pt"><B>181-270 days</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; width: 10%"><FONT STYLE="font-size: 7pt"><B>271-360 days</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; width: 10%"><FONT STYLE="font-size: 7pt"><B>&gt;360 days</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;4,137,048 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;3,894,276 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;242,772 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>12.31.2023</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;4,607,939 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;4,423,788 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;154,936 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;11,489 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;9,383 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;8,343 </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B><U>14.5 Tax payables</U></B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 14.2pt; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: top; width: 63%; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 9pt"><B>Current</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 18%; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-right: 2.9pt; padding-bottom: 2.4pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 18%; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-top: 2.4pt; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Value added tax payable</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;1,283,800 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;931,844 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-top: 2.4pt; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Withholdings and collections to deposit</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;1,216,561 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;1,983,988 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-top: 2.4pt; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Gross income tax payable</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;752,632 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;316,561 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-top: 2.4pt; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Commerce and industries tax payable</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;302,090 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;131,725 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-top: 2.4pt; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Personal assets tax payable</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;835,551 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;154,660 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-top: 2.4pt; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Subsidy fund Law No. 25565 payable</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;1,012,729 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;158,731 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-top: 2.4pt; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Miscellaneous</FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;530,848 </FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;102 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-top: 2.4pt; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;5,934,211 </B></FONT></TD>
    <TD STYLE="padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;3,677,611 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The aging of tax payables is as follows:</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="9" STYLE="border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>To become due</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; width: 22%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>Total</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>Due</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>&lt;90 days</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>91-180 days</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>181-270 days</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>271-360 days</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>&gt;360 days</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;5,934,211 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;11,217 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;4,910,476 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;1,012,518 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>12.31.2023</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>&nbsp;3,677,611 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;22,023 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;2,836,710 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;818,878 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">- </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD></TR>
  </TABLE>

<!-- Field: Page; Sequence: 50 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR><TR><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: center">&nbsp;F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->40<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 100%">&nbsp;<IMG SRC="cepu202506196k_001.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center"><P STYLE="font: 12pt Cambria,serif; margin: 0; text-align: center; border-bottom: #BFBFBF 0.5pt solid"><B>ECOGAS INVERSIONES S.A.</B></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B><U>NOTE 15. PROVISIONS</U></B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: top; width: 71%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 29%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>For trials and claims</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>As of December 31, 2022 </B></FONT><FONT STYLE="font-size: 6pt">(unaudited)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>17,036,758</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Charges for the FY (Note 5)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;7,951,241 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Recovery (Note 6)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">(22,700) </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Utilizations</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">(448,170) </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Loss on net monetary position</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">(17,123,069) </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>As of December 31, 2023 </B></FONT><FONT STYLE="font-size: 6pt">(unaudited)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>7,394,060</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Charges for the FY (Note 5)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;2,668,475 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Recovery (Note 6)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">(757,463) </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Utilizations</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">(427,840) </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Loss from exposure due to changes in the purchasing power of currency</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">(4,695,562) </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>As of December 31, 2024</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>4,181,670</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Current</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;4,181,670 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Non-current</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="padding-top: 12pt; font: 10pt Times New Roman,serif; margin: 0pt; text-align: justify"><B><U>NOTE 16. PARENT COMPANY, BALANCES AND OPERATIONS WITH
COMPANIES SECTION 33, LAW No. 19550 AND RELATED PARTIES</U></B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 42.55pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>16.1 Balances and transactions with related entities:</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Sales and purchases between related parties are conducted
in conditions equivalent to the ones which exist for transactions between independent parties. Balances at the corresponding closing dates
of the reporting periods are not secured. No guarantees were granted or received in relation to the accounts receivable or payable to
related parties.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The Company has not recorded any value impairment regarding
the accounts receivable with related parties. This evaluation is performed at the closing of the reporting period, through an examination
of the balance sheet of the related party and market in which it operates.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 6pt; text-align: justify">Balances of credits and debts with companies included
in Section 33 of LGS and related parties as of December 31, 2024, and December 31, 2023 are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD ROWSPAN="2" STYLE="border: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>NAME</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>RECEIVABLES FROM RELATED PARTIES</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>As of December 31, 2024</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>As of December 31, 2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 58%; border-left: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 8pt"><B>Companies Section 33 LGS:</B></FONT></TD>
    <TD STYLE="width: 20%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 22%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 8pt"><B>Current</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 8pt">COySERV S.A.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;9,824 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;10,370 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 8pt"><B>Total companies Section 33 LGS:</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>9,824 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;<B>10,370 </B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 8pt"><B>Related parties:</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 8pt"><B>Non-current</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 8pt">INEXSA S.A.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;59,534 </FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Current</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Directors and Managers account</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;17,328 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;41,501 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Other shareholders</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;1,045,863 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;112,228 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">INEXSA S.A.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;61,171 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Total related parties</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;1,063,191 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;274,434 </B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Total non-current</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;- </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;59,534 </B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Total current</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;1,073,015 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;225,270 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 3pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD ROWSPAN="2" STYLE="border: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; text-indent: 6.25pt"><FONT STYLE="font-size: 8pt"><B>NAME</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; text-indent: 6.25pt"><FONT STYLE="font-size: 8pt"><B>TRADE RECEIVABLES AND OTHER RECEIVABLES</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; text-indent: 6.25pt"><FONT STYLE="font-size: 8pt"><B>As of December 31, 2024</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center; text-indent: 6.25pt"><B>As of December 31, 2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center; text-indent: 6.25pt">(unaudited)</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 59%; border-left: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify; text-indent: 6.25pt"><FONT STYLE="font-size: 8pt"><B>Companies Section 33 LGS:</B></FONT></TD>
    <TD STYLE="width: 20%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify; text-indent: 6.25pt">&nbsp;</TD>
    <TD STYLE="width: 21%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify; text-indent: 6.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-indent: 6.25pt"><FONT STYLE="font-size: 8pt"><B>Current</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 6.25pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 6.25pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-indent: 6.25pt"><FONT STYLE="font-size: 8pt">Central Puerto S.A.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 6.25pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;1,686,676 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 6.25pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;1,221,573 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; border: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-indent: 6.25pt"><FONT STYLE="font-size: 8pt"><B>Total Companies Section 33 LGS:</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 6.25pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;1,686,676 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 6.25pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;1,221,573 </B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-indent: 6.25pt"><FONT STYLE="font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 6.25pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;1,686,676 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 6.25pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;1,221,573 </B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-indent: 6.25pt"><FONT STYLE="font-size: 8pt"><B>Total current</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 6.25pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;1,686,676 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 6.25pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;1,221,573 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 3pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 51 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR><TR><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: center">&nbsp;F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->41<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 100%">&nbsp;<IMG SRC="cepu202506196k_001.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center"><P STYLE="font: 12pt Cambria,serif; margin: 0; text-align: center; border-bottom: #BFBFBF 0.5pt solid"><B>ECOGAS INVERSIONES S.A.</B></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman,serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD ROWSPAN="2" STYLE="border: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; text-indent: 13.25pt"><FONT STYLE="font-size: 8pt"><B>NAME</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; text-indent: 13.25pt"><FONT STYLE="font-size: 8pt"><B>OTHER NON-FINANCIAL ASSETS</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; text-indent: 13.25pt"><FONT STYLE="font-size: 8pt"><B>As of December 31, 2024</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center; text-indent: 13.25pt"><B>As of December 31, 2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center; text-indent: 13.25pt">(unaudited)</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 59%; border-left: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-indent: 13.25pt"><FONT STYLE="font-size: 8pt"><B>Related parties:</B></FONT></TD>
    <TD STYLE="width: 20%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify; text-indent: 13.25pt">&nbsp;</TD>
    <TD STYLE="width: 21%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify; text-indent: 13.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-indent: 13.25pt"><FONT STYLE="font-size: 8pt"><B>Current</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 13.25pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 13.25pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-indent: 13.25pt"><FONT STYLE="font-size: 8pt">RPS Consultores S.A.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 13.25pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;4,151,112 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 13.25pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;2,363,966 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; border: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-indent: 13.25pt"><FONT STYLE="font-size: 8pt"><B>Total related parties</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 13.25pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;4,151,112 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 13.25pt"><FONT STYLE="font-size: 8pt"><B>2,363,966 </B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-indent: 13.25pt"><FONT STYLE="font-size: 8pt"><B>Companies Section 33 LGS:</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 13.25pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 13.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-indent: 13.25pt"><FONT STYLE="font-size: 8pt"><B>Current</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 13.25pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 13.25pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-indent: 13.25pt"><FONT STYLE="font-size: 8pt">Central Puerto S.A.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 13.25pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;38,719 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 13.25pt"><FONT STYLE="font-size: 8pt">- </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-indent: 13.25pt"><FONT STYLE="font-size: 8pt"><B>Total companies Section 33 LGS:</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 13.25pt"><FONT STYLE="font-size: 8pt"><B>38,719 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 13.25pt"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-indent: 13.25pt"><FONT STYLE="font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 13.25pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;4,189,831 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 13.25pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;2,363,966 </B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-indent: 13.25pt"><FONT STYLE="font-size: 8pt"><B>Total current</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 13.25pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;4,189,831 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; text-indent: 13.25pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;2,363,966 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 5pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD ROWSPAN="2" STYLE="border: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>NAME</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>ACCOUNTS PAYABLE TO RELATED ENTITIES</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>As of December 31, 2024</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>As of December 31, 2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 59%; border-left: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 8pt"><B>Related parties:</B></FONT></TD>
    <TD STYLE="width: 20%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 21%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Current</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Geser S.A.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;16,148 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; border: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Total related parties</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;16,148 </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;- </B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;16,148 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;- </B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Total current</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;16,148 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;- </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 5pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD ROWSPAN="2" STYLE="border: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>NAME</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>TRADE PAYABLES AND OTHER PAYABLES</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>As of December 31, 2024</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>As of December 31, 2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 59%; border-left: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 8pt"><B>Related parties:</B></FONT></TD>
    <TD STYLE="width: 20%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 21%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Current</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Geser S.A.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;44,400 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">RPS Consultores S.A.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;322,760 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Total related parties</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;- </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;367,160 </B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;- </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;367,160 </B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Total current</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;- </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;367,160 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 5pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD ROWSPAN="2" STYLE="border: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>NAME</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>DIVIDENDS PAYABLE</B></P>
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 2pt Times New Roman,serif; margin: 0; text-align: center">&nbsp;</P></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>As of December 31, 2024</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>As of December 31, 2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 59%; border-left: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Companies Section 33 LGS:</B></FONT></TD>
    <TD STYLE="width: 20%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 38.95pt; font-family: Times New Roman,serif; text-align: right; text-indent: -38.95pt">&nbsp;</TD>
    <TD STYLE="width: 21%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 38.95pt; font-family: Times New Roman,serif; text-align: right; text-indent: -38.95pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Current</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 38.95pt; font-family: Times New Roman,serif; text-align: right; text-indent: -38.95pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 38.95pt; font-family: Times New Roman,serif; text-align: right; text-indent: -38.95pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Central Puerto S.A.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 38.95pt; font-family: Times New Roman,serif; text-align: right; text-indent: -38.95pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 38.95pt; font-family: Times New Roman,serif; text-align: right; text-indent: -38.95pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;6,368,591 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Total Companies Section 33 LGS:</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 38.95pt; font-family: Times New Roman,serif; text-align: right; text-indent: -38.95pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;- </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 38.95pt; font-family: Times New Roman,serif; text-align: right; text-indent: -38.95pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;6,368,591 </B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Related parties:</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 38.95pt; font-family: Times New Roman,serif; text-align: right; text-indent: -38.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 38.95pt; font-family: Times New Roman,serif; text-align: right; text-indent: -38.95pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Current</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 38.95pt; font-family: Times New Roman,serif; text-align: right; text-indent: -38.95pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 38.95pt; font-family: Times New Roman,serif; text-align: right; text-indent: -38.95pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Other shareholders</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 38.95pt; font-family: Times New Roman,serif; text-align: right; text-indent: -38.95pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 38.95pt; font-family: Times New Roman,serif; text-align: right; text-indent: -38.95pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;26,515,573 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>&nbsp;Total related parties</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 38.95pt; font-family: Times New Roman,serif; text-align: right; text-indent: -38.95pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 38.95pt; font-family: Times New Roman,serif; text-align: right; text-indent: -38.95pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;26,515,573 </B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>&nbsp;Total </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 38.95pt; font-family: Times New Roman,serif; text-align: right; text-indent: -38.95pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;- </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 38.95pt; font-family: Times New Roman,serif; text-align: right; text-indent: -38.95pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;32,884,164 </B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>&nbsp;Total current</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 38.95pt; font-family: Times New Roman,serif; text-align: right; text-indent: -38.95pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;- </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 38.95pt; font-family: Times New Roman,serif; text-align: right; text-indent: -38.95pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;32,884,164 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 13pt/95% Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>




<!-- Field: Page; Sequence: 52 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR><TR><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: center">&nbsp;F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->42<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 100%">&nbsp;<IMG SRC="cepu202506196k_001.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center"><P STYLE="font: 12pt Cambria,serif; margin: 0; text-align: center; border-bottom: #BFBFBF 0.5pt solid"><B>ECOGAS INVERSIONES S.A.</B></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt/95% Times New Roman,serif; margin: 0; text-align: justify">During the fiscal years ended December 31, 2024, 2023,
and 2022 the Company conducted the following operations with companies included in Section 33 of LGS and related parties [income/ (expenses)]:</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 3pt/95% Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD ROWSPAN="2" STYLE="border: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>OPERATIONS</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>RELATIONSHIP</B></FONT></TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>FOR THE FISCAL YEARS ENDED</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>December 31, 2024</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>December 31, 2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Times New Roman,serif; margin: 0; text-align: center"><B>December 31, 2022</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; width: 33%; border-left: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 8pt"><B>Services rendering and goods purchasing</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 19%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 16%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 16%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 16%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 8pt">Central Puerto S.A.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt">Company Section 33 LGS</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;13,816,799 </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;11,562,697 </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">9,235,325</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 8pt">Geser S.A.</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 8pt">Related</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(3,342,688) </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 8pt">RPS Consultores S.A.</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 8pt">Related</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(3,520,365) </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(4,221,595) </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">(4,623,910)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 8pt">COySERV S.A.</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 8pt">Company Section 33 LGS</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(26,482) </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(508,524) </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;6,927,264 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;6,832,578 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>4,611,415</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 8pt"><B>Compensation</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 8pt">Directors and managers</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 8pt">Related</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(1,094,338) </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(2,193,707) </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,900,343)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;(1,094,338) </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;(2,193,707) </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>(1,900,343)</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 8pt"><B>Costs recovery </B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 8pt">COySERV S.A.</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 8pt">Company Section 33 LGS</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;199,894 </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;299,127 </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;199,894 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;299,127 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 8pt"><B>Expenses and net operating costs</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 8pt">RPS Consultores S.A.</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 8pt">Related</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(1,547,042) </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(654,722) </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">(820,711)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 8pt">Central Puerto S.A.</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 8pt">Company Section 33 LGS</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(91,693) </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; border: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;(1,547,042) </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;(746,415) </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>(820,711)</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 8pt"><B>Total operations</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;4,485,778 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>4,191,583</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,890,361</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B><U>NOTE 17. SHARE CAPITAL, CAPITAL RESERVES AND OTHER EQUITY
COMPONENTS</U></B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 8.5pt 0 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>17.1 Share capital evolution</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">As of December 31, 2017, the Company&#8217;s share capital
amounted to 68,012,000 subscribed, issued, paid-in and registered, represented by 6,801,200 common and book-entry shares, with a face
value of $10 and carrying one vote each.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On January 8, 2018, the Company&#8217;s Board of Directors
decided to conduct a merger by absorption by means of which the Company absorbed Inversora de Gas Cuyana S.A. (&#8220;INCU&#8221;), Magna
Inversiones S.A. (&#8220;MAGNA&#8221;) and RPBC Gas S.A. (&#8220;RPBC&#8221; and together with INCU and MAGNA, the &#8220;Absorbed Companies&#8221;),
which were dissolved without liquidation. Through this reorganization, significant operating and economic advantages were obtained. The
effective merger date was March 28, 2018.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The Merger was registered with the Business Entities Registry
for the City of Buenos Aires on September 12, 2019, under No. 17800 of Book 96, Volume &#8211; of Stock Companies.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Because of the Merger and the Swap Ratio, ECOGAS, as absorbing
and continuing company, increased its share capital by 73,775,320, i.e. from 68,012,000 to 141,787,320, issuing 7,377,532 common, book
entry shares, with face a value of $10 and carrying one vote each. In this regard, after the Merger, the shareholding structure of the
Company was: Central Puerto S.A. (5,998,658 shares representing 42.31% of the share capital and votes); and other shareholders, individuals
with interest lower than 13.05% (8,180,074 shares representing 57.69% of the share capital and votes).</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On September 19, 2019, the Shareholders&#8217; Meeting approved
the creation of classes of shares and the subsequent amendment to the Corporate Bylaws. In this regard, the share capital was represented
by 14,178,732 common and book-entry shares, with a face value of $10 each, of which 5,998,658 were Class A shares, carrying 1 vote each;
3,369,271 were Class B shares, carrying 5 votes each; 2,770,445 were Class C shares, carrying 5 votes each; and 2,040,358 were Class D
shares, carrying 1 vote each.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 6pt; text-align: justify">On September 30, 2024, the Shareholders&#8217; Meeting
approved, among others, the adherence of the Company to the public offer regime and the corresponding authorization for the listing of
its shares on the markets that the Board of Directors determine, including BYMA. All of the foregoing is subject to the placement of New
Shares of the Company through a voluntary shares swap offer aimed at DGCU and DGC shareholders (the &#8220;Swap Offer&#8221;). The Meeting
determined: (i) the issuance of up to 14,178,732 Class D common and book-entry shares, with a face value of $10 and carrying one vote
each (and the corresponding share capital increase), which would be paid-in in kind by the delivery of shares of DGCU and DGC as per the
Swap Ratio. The delivery of the shares would be subject to the approval by CNV to the admission of the Company&#8217;s shares to the public
offer regime and the successful completion of the Swap Offer; and (ii) the delegation of broad powers to the Board of Directors to</P>


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<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 6pt; text-align: justify">conduct the Swap Offer, even the cancellation of the
unsubscribed shares once the results of the Operation were published, and the formalization of the capital increase effectively performed.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 6pt; text-align: justify">Consequently, the Board of Directors, on October 9,
2024, approved the admission of the Company to the public offer regime and the listing of the Company&#8217;s share capital on BYMA, subject
to the placement of the New Shares through the Swap Offer.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 6pt; text-align: justify; text-indent: -0.1pt">After the Board of Directors approved
the Swap Ratio on November 7, 2024, the Company (the &#8220;Offeror&#8221;) promoted a public listing of voluntary swap consisting of
the swap of (a) common and book-entry shares Class &#8220;B&#8221; and Class &#8220;C&#8221;, with a face value of 1 ARS ($1) and with
one vote each, issued and outstanding of DGCU not directly or indirectly held by the Offeror (&#8220;DGCU Eligible Shares&#8221;); and
(b) common and book-entry shares Class &#8220;B&#8221;, with a face value of 1 ARS ($1) and with one vote each, issued and outstanding
of DGCE not directly or indirectly held by the Offeror (&#8220;DGCE Eligible Shares&#8221;, and together with DGCU Eligible Shares, the
&#8220;Eligible Shares&#8221;) for common book-entry shares class &#8220;D&#8221; with a face value of 10 ARS ($10) each carrying one
vote of the Offeror (the &#8220;New Shares&#8221;) (&#8220;Swap Offer&#8221;) at a swap ratio equivalent to: (1) 15.83467388 DGCU Eligible
Shares for each New Share; and (ii) 12.55431094 DGCE Eligible Shares for each New Share.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 6pt; text-align: justify; text-indent: -0.1pt">The Swap Offer remained open from
December 20, 2024 until January 13, 2025. The liquidation date was January 17, 2025.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 6pt; text-align: justify; text-indent: -0.1pt">As per the results of the Swap
Offer, the Board of Directors of the Company, on January 17, 2025, canceled 5,434,406 common and book-entry shares, Class &#8220;D&#8221;,
carrying 1 (one) vote and with a face value of $10 each, which resulted in a share capital of 229,230,580 (represented by: (i) 5,998,658
book-entry common shares, Class &#8220;A&#8221;, carrying 1 (one) vote and with a face value of $10 each; (ii) 3,369,271 book-entry common
shares, Class &#8220;B&#8221;, carrying 5 (five) votes, with a face value of $10 each; (iii) 2,770,445 book-entry common shares, Class
&#8220;C&#8221;, carrying 5 (five) votes with a face value of $10 each; and (iv) 10,784,684 book-entry common shares, Class &#8220;D&#8221;,
carrying 1 (one) vote with a face value of $10 each).</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 6pt; text-align: justify; text-indent: -0.1pt">In accordance with the provisions
of Section 5 of the Bylaws, in case the Company is authorized to the public offering of its shares, as is the case, for the purpose of
the transfer of any of Class A, B or C shares in the market, holders of such shares must previously convert them into Class D shares.
To that effect, shareholders shall present a conversion request to the Board of Directors for the portion of their holding to be converted
into Class D shares, at an exchange ratio of every Class D share for every Class A, B or C. In that regard, on January 24, 2025, the Board
of Directors of the Company considered certain requirements to convert Class B and C shares into Class D shares. Such conversions were
registered on January 27, 2025 which resulted in a share capital amounting to 229,230,580 (represented by: (i) 5,998,658 book-entry common
shares, Class &#8220;A&#8221;, carrying 1 (one) vote and with a face value of $10 each; (ii) 2,526,954 book-entry common shares, Class
&#8220;B&#8221;, carrying 5 (five) votes, with a face value of $10 each; (iii) 2,077,840 book-entry common shares, Class &#8220;C&#8221;,
carrying 5 (five) votes with a face value of $10 each; and (iv) 12,319,606 book-entry common shares, Class &#8220;D&#8221;, carrying 1
(one) vote with a face value of $10 each).</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 6pt; text-align: justify; text-indent: -0.1pt">Regarding the corresponding authorizations,
on December 11, 2024, CNV issued Resolution RESFC-2024-22991-APN-DIR#CNV, which granted a conditioned authorization to the Company for
the admission of the totality of its share capital to the Public Offer Regime, which conditions were lifted through Note NO-2024-139370492-APN-GE#CNV
on December 19, 2024.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 6pt; text-align: justify; text-indent: -0.1pt">In addition, on December 23, 2024,
the Buenos Aires Chamber of Commerce authorized the listing of the shares representative of the Company&#8217;s share capital, subject
to the result of the voluntary shares swap offer of the Eligible Shares. On January 15, 2025, after the Swap Offer Results Notice issued
by the Company, the Buenos Aires Chamber of Commerce adjusted the authorization granted on December 23, 2024.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 6pt; text-align: justify; text-indent: -0.1pt">Therefore, as of the date of these
Financial Statements, the Company is under the supervision of CNV. Class D shares of the Company are listed on BYMA, under ticker ECOG.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 6pt; text-align: justify; text-indent: -0.1pt">On March 31, 2025, the Company&#8217;s
Board of Directors decided to conduct a Split-off Merger process, subject to the approval of the corresponding Shareholders&#8217; Meetings,
by virtue of which Central Puerto S.A. (&#8220;CEPU&#8221;) shall split; (a) its shareholding in DGC, in ENSUD (both companies controlled
by ECOGAS) and in ECOGAS; and (b) the amount of ARS $305,000,000 in (together, &#8220;Divided CEPU Equity&#8221;), to merge such equity
with ECOGAS as absorbing and continuing company of such equity. The Split-off Merger shall be conducted pursuant to the provisions of
Sections 83, 88 and related sections of the Business Entities Act No. 19550, as amended (&#8220;LGS&#8221;). This process is fiscally
framed as a corporate reorganization pursuant to Section 80 and related sections of the Income Tax Act (Law No. 20628) as amended (&#8220;LIG&#8221;)&nbsp;and
its Decree 862/19, as amended, and subject, among other authorizations, to the administrative approval by CNV, pursuant to Section I,
Chapter X, Title II of CNV Regulations (restated text 2013). The Extraordinary General Shareholders&#8217; Meeting shall be held remotely
on May 22, 2025.</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 6pt; text-align: justify; text-indent: -0.1pt">Finally, the Company&#8217;s Board
of Directors, on March 31, 2025, considered convenient to place to the consideration of the Shareholders&#8217; Meeting, the modification
of the face value of the outstanding shares from $10 (ten Argentine pesos) to $1 (one Argentine peso) per share. This modification is
aimed at facilitating the trading of the Company&#8217;s shares on the market, providing a better accessibility for investors and a possible
improvement in the liquidity of shares. This shall be treated on the Extraordinary General Shareholders&#8217; Meeting to be held on May
22, 2025.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>17.2 Restrictions on the transferability of the Company&#8217;s
shares</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Section 5 of the Company&#8217;s Bylaws establishes restrictions
on the transferability of its shares, stating that shareholders cannot transfer any of their shares, except in the following cases:</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">(i) Transfers to legal entities over which such shareholder
has the ability or the power to individually direct or cause the direction of the administration and/or policies and/or businesses, directly
or indirectly, whether by holding any kind of securities or instruments granting rights to vote, by contractual relationships or any other
manner (&#8220;Affiliate&#8221;);</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">(ii) Shares transfers between shareholders with the same class
of shares;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">(iii) A transfer to the Proposed Assignee (as term is defined
in the Bylaws), provided the transfer is of totality (and no less than totality) of their shares and their affiliates&#8217; shares, and
such transfer complies with certain provisions;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">(iv) A transfer to another shareholder (of different class,
or an Affiliate), provided the transfer is of the totality (and no less than the totality) of their shares and their affiliates&#8217;
shares, and such transfer complies with certain provisions;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">(v) Transfers of shares between Class B and Class A shareholders.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">In addition, regarding those shares held by legal entities,
any direct or indirect transfer which implies a change in control over those shares shall be deemed as a transfer made by such a shareholder
and, accordingly, shall be subject to the restrictions set forth in Section 5 of the Bylaws.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The restrictions on the transferability of shares established
shall apply to shareholders in the case of sales to the market when the Company is authorized to the public offer of its shares. In that
event, for the purpose of the transfer of any of the Class A, B or C shares to the market, the shareholders of such shares must previously
convert them into Class D shares. To that effect, shareholders shall present a conversion request to the Board of Directors for the portion
of its holding to be converted into Class D shares, at an exchange ratio of one Class D share for every Class A, B or C share.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Subsection B of Section 5 of the Bylaws governs the procedure
for the transfer of shares.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>17.3 Subscribed, paid-in, issued and registered capital
</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: top; width: 63%; padding-top: 2.4pt; padding-bottom: 3pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 18%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-top: 1pt; padding-bottom: 1pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 18%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-top: 2.4pt; padding-bottom: 3pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt">Common, subscribed, paid in, issued and registered shares</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">14,178,732</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">14,178,732</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 3pt/115% Times New Roman,serif; margin: 0 19.55pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman,serif; margin: 0 19.55pt 0 0; text-align: justify">As of December 31, 2024, the share capital
of the Company amounts to 141,787, fully subscribed, paid-in, issued and registered.</P>

<P STYLE="font: 3pt/115% Times New Roman,serif; margin: 0 19.55pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 3pt/115% Times New Roman,serif; margin: 0 19.55pt 0 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify"><B>17.4&nbsp;&nbsp;&nbsp;Capital adjustment</B></TD>
    <TD COLSPAN="3" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; width: 63%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 2pt; font-family: Times New Roman,serif; text-align: center; text-indent: -2pt; width: 18%"><FONT STYLE="font-size: 9pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; width: 18%">
    <P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 35.45pt; font-family: Times New Roman,serif; text-indent: -35.45pt"><FONT STYLE="font-size: 9pt">Capital adjustment</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;143,743,772 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;143,743,772 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; width: 63%"><B>17.5&nbsp;&nbsp;&nbsp;Share premium</B></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; width: 18%">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; width: 1%">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right; width: 18%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt">Share premium</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;1,588,735 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;1,588,735 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: justify"><B>17.6&nbsp;&nbsp;&nbsp;Legal reserve</B></TD>
    <TD COLSPAN="3" STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; width: 63%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; width: 18%"><FONT STYLE="font-size: 9pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; width: 18%">
    <P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt">Legal reserve</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;9,141,219 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;8,248,944 </FONT></TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    </TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 2.9pt; padding-left: 2.9pt; font-family: Times New Roman,serif; text-align: justify"><B>17.7&nbsp;&nbsp;&nbsp;&nbsp;Voluntary reserve</B></TD>
    <TD COLSPAN="3" STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: center"><B>12.31.2023</B></P>
    <P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: center">(unaudited)</P></TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 9pt">Voluntary reserve</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;25,587,232 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;&nbsp;17,780,066</FONT></TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="width: 63%">&nbsp;</TD>
    <TD STYLE="width: 18%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 18%">&nbsp;</TD>
    </TR>
  </TABLE>

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<P STYLE="font: 10pt Times New Roman,serif; margin: 0 12.45pt 0 0; text-align: justify"><B><U>NOTE 18. RESTRICTED AVAILABILITY ASSETS</U></B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 12.45pt 0 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><FONT STYLE="background-color: white">The Bylaws of the controlled
Licensees (DGC and DGCU) establish that approval from the Argentine Gas Regulating Entity (&#8220;ENARGAS&#8221;) is required to transfer
the Class A common shares (representative of 51% of the share capital), which are held by the Group.</FONT></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><FONT STYLE="background-color: white">The Bylaws set forth
that such previous approval may be granted provided the following conditions are met:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="background-color: white">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="background-color: white">The sale comprises 51% of the share capital, or if it is not a sale,
the act which reduces interest results in the acquisition of an interest no less than 51% by another investing company;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="background-color: white">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="background-color: white">The applicant proves that the quality of the operation of the licensed
service shall not be deteriorated by such transfer.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><FONT STYLE="background-color: white">In addition, pursuant
to the provisions of the License, DGC and DGCU are not allowed to voluntarily reduce their capital, redeem their shares or conduct any
distribution of their equity, except for the payment of dividends pursuant to LGS, without prior consent from ENARGAS.</FONT></P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><FONT STYLE="background-color: white">The Swap Offer referred
to in Note 17 did not imply a change in control in DGC or DGCU.</FONT></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 6pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B><U>NOTE 19. RESTRICTIONS ON THE DISTRIBUTION OF RETAINED
EARNINGS</U></B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 12.45pt 0 0; text-align: justify">Pursuant to the provisions of LGS, an amount no
less than 5% of the profit of each fiscal year must be allocated to the legal reserve, until 20% of the share capital is achieved.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0 12.45pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 12.45pt 0 0; text-align: justify">Dividends and profits distributed by capital companies
in Argentina, generated during the fiscal years commencing on January 1, 2018, are subject to a separate tax at a rate of 7% applicable
to shareholders or partners who are individuals or foreign beneficiaries (individuals or legal entities).</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0 12.45pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 12.45pt 0 0; text-align: justify">The amount withheld shall be treated for taxpayers
registered for income tax purposes, as tax paid and shall be creditable in the income tax return for the corresponding fiscal year. For
foreign beneficiaries and for individuals and undivided estates resident in the country who are not registered for income tax purposes,
the withholding shall be considered a single and final payment</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0 12.45pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 12.45pt 0 0; text-align: justify">Within the context of the renegotiation set forth
in Section 5 of the Social Solidarity and Productive Reactivation Act (Law No. 17541) and the Decree No. 1020/2020, which determined the
commencement of the renegotiation of comprehensive tariff review (&#8220;RTI&#8221;), on May 7, 2021, and due to the need of a tariff
restructuring, the Board of Directors of the controlled Licensees (DGC and DGCU) approved the Transitional Renegotiation Agreement Draft
circulated by ENARGAS (the &#8220;Agreement&#8221;), which contained the terms and conditions to establish a Transition Tariff Regime.
By means of the Agreement it was established that, among other items, during its validity, the Licensed companies shall not distribute
dividends. On February 18, 2022, a first amendment to the Agreement was subscribed, by means of which, increases in the tariff were established,
keeping the rest of the provisions of the Agreement unchanged. On April 24, 2023, a second amendment to the Agreement was subscribed,
by which new tariff regimes were approved and, in case the Licensed companies deemed appropriate to distribute dividends, approval from
ENARGAS was required. This restriction was in force during the validity term of Decree No. 815/2022 (which extended for one year the term
set forth in Section 2 of Decree No. 1020/2020, with a validity term of two years as from its publication in the Official Gazette).</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0 12.45pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 12.45pt 0 0; text-align: justify">The Shareholders&#8217; Meeting of the Company
held on April 21, 2023, decided to partially release the balance of the optional reserve for future dividend distributions by <FONT STYLE="background-color: white">3,635,775,
allocated to absorb the totality of the loss generated during the fiscal year ended December 31, 2022 and to partially release the balance
of the optional reserve for future dividends payment by 5,601,380 in cash to the shareholders, in proportion to their shareholdings. In
addition, the Shareholders&#8217; Meeting delegated in the Board of Directors the decision to release, partially or totally, the remaining
balance of the optional reserve for future dividends distribution, in order to make payments in cash to the shareholders, in proportion
to their shareholdings. </FONT></P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0 12.45pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 12.45pt 0 0; text-align: justify"><FONT STYLE="background-color: white">On December
21, 2023, the Board of Directors, in the exercise of the powers delegated by the Shareholders&#8217; Meeting, decided to partially reverse
the optional reserve for future dividends distribution in order to pay 31,503,973, in cash, to the shareholders, in proportion to their
shareholdings.</FONT></P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0 12.45pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 12.45pt 0 0; text-align: justify"><FONT STYLE="background-color: white">The Company&#8217;s
Shareholders&#8217; Meeting held on April 19, 2024 decided the following regarding retained earnings as of December 31, 2023: to allocate
5% to the legal reserve, i.e., the amount of 829,275, allocate 5,542,637 to the payment of</FONT></P>


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<P STYLE="font: 10pt Times New Roman,serif; margin: 0 12.45pt 0 0; text-align: justify">dividends in cash to the totality of the shareholders,
in proportion to their shareholdings; and allocate the remaining balance of the profit of the fiscal year, 7,807,166, to the optional
reserve for future dividends payment.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0 12.45pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 12.45pt 0 0; text-align: justify">The Shareholders&#8217; Meeting of the Company
held on February 24, 2025, decided to make a dividend payment in cash to Shareholders in proportion to their shareholdings, by completely
releasing the Optional Reserve for future dividend distributions.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 12.45pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 12.45pt 0 0; text-align: justify">Finally, the Shareholders&#8217; Meeting of the
Company held on April 14, 2025, which considered the cumulative retained earnings at the closing of the reporting period ended December
31, 2024 (a <FONT STYLE="background-color: white">27,083,896 profit in homogenous currency as of December&nbsp;31, 2024) decided, prior
adjustment of that amount pursuant to the terms of the CNV General Resolution No. 777/2018, using the last applicable index available,
corresponding to March 2025: (i) to allocate 5% of the increase to the Legal Reserve; (ii) to allocate the remaining balance to the payment
of dividends in cash to the totality of the Shareholders, in proportion to their shareholdings, which were liquidated on April 29, 2025.</FONT></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 12.45pt 0 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 12.45pt 0 0; text-align: justify"><B><U>NOTE 20. COMMITMENTS ASSUMED BY THE COMPANY
FOR GAS SUPPLY AND TRANSPORTATION</U></B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 12.45pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 12.45pt 0 0; text-align: justify">In order to ensure the adequate supply and transportation
of gas in accordance with the terms of the License, the Company has entered into and maintains the following medium- and long-term agreements:</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 12.45pt 0 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>(i)</B></TD><TD STYLE="text-align: justify"><B>Gas purchase agreements</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Due to the gas <I>pass-through</I> principle provided in the
regulatory framework, the final tariffs for users must include the cost of gas acquired by the Company and must be modified, subject to
ENARGAS approval, as a result of variations in its price. In this way, the Company should not be affected by fluctuations in the price
of the purchased gas since it is passed through in the tariff of each category of clients.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">In this regard, the compensation scheme assumed by the National
State through Resolution MEyM 508/2017 regarding Discounts in Billing as a Social Tariff is still in effect.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">In June 2022, Decree APN-PTE 332/2022 established a subsidy
segmentation regime for residential users, aimed at achieving reasonable energy prices.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0.8pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0.8pt 0 0; text-align: justify">For this reason, ENARGAS through Resolution No.
145/2023 dated March 30, 2023, approved the methodology for the informative procedure and the model of sworn statements, with which the
Licensee informs natural gas producers monthly about the percentage composition of consumption according to the segmentation levels established
in the mentioned Decree and according to the current gas prices at the Entry Point to the Transportation System (&quot;PIST&quot;).</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0.8pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0.8pt 0 0; text-align: justify">Finally, on March 6, the Unified Compensation Mechanism
was published through ENARGAS Resolution 125/25, which includes the information procedure in line with the mentioned Resolution No. 399/2024
and includes the procedure by which producers must be informed of billing discounts such as the Social Rate, repealing ENARGAS Resolution
273/18 at the same time.</P>

<P STYLE="font: 4pt Times New Roman,serif; margin: 0 0.8pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0.8pt 0 0; text-align: justify">Currently, the company has the supply of natural
gas until December 2028 within the framework of the commitments made by the awardees in the Cuenta Neuquina in the 'Reinsurance and Enhancement
Plan for Federal Hydrocarbon Production, Internal Self-Supply, Exports, Import Substitution, and Expansion of the Transportation System
for all Hydrocarbon Basins in the Country 2023-2028.' For the necessary volumes for injection into TGN's Northern Gas Pipeline, the company
has the supply from ENARSA provided by the Natural Gas Purchase and Sale Offer dated March 6, 2019, and its subsequent addendums.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On February 7, 2024, the SE convened a Public Hearing (&quot;AP&quot;)
for February 29, 2024, for the purpose of evaluating and addressing the redefinition of the energy subsidy structure and determining the
PIST gas price to be included in the tariffs. Consequently, the SE, through Resolution No. 41/2024 dated March 26, 2024, established (i)
the new PIST gas prices denominated in USD and approved by ENARGAS Resolution No. 117/2024 applicable to gas consumption starting from
April 3 of the current year, (ii) the discontinuation of the discounts on the natural gas price to SGP users, (iii) the exchange rate
to be used for passing on gas prices to tariffs as the average selling exchange rate of the Banco de la Naci&oacute;n Argentina (foreign
currencies) observed between the 1st and 15th of the month immediately prior to the price adjustment. (iv) the value of the price of undiluted
propane gas through networks as a result of 25% of the export parity price in effect on the 20th of the month prior to the effective date
of the respective tariff tables. Additionally, the aforementioned resolution provided for monthly adjustments for exchange rates and seasonal
gas prices in PIST, which were not applied in the months of May and June by directive of the Ministry of Economy.</P>

<P STYLE="font: 4pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">In continuation with the agenda of the mentioned AP and framed
within Decree No. 465/2024, Resolution SE No. 91/2024 was published on June 5, 2024, which readjusts the subsidy scheme for N2 users,
originally established by Decree No. 332/22, limiting the subsidy to a predetermined consumption block. Resolution SE No. 384/2024 resolved
to extend the validity established in Decree No. 465/2024 until May 31, 2025.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">In order to reflect this change in the subsidy structure and
the price paid to producers, ENARGAS published Resolution No. 399/2024 in replacement of ENARGAS Resolution No. 145/2023.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">At the same time, Resolution SE No. 93/2024 was published,
which readjusted gas prices in PIST, while nullifying the monthly adjustments provided for in Resolution SE No. 41/2024. The new prices
were passed on to end users on June 6 through ENARGAS Resolution No. 259/2024.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On August 2, 2024, Resolution SE No. 191/2024 was published,
which readjusted gas prices in PIST, and these were passed on to end users through ENARGAS Resolution No. 416/2024 on the same day.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On September 2, 2024, Resolution SE No. 232/2024 was published,
which readjusted gas prices in PIST, and these were passed on to end users through ENARGAS Resolution No. 495/2024 on the same day.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On September 30, 2024, Resolution SE No. 284/2024 was published,
which readjusted gas prices in PIST, and these were passed on to end users through ENARGAS Resolution No. 606/2024 on October 01,2024.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On November 1, 2024, Resolution SCEYM No. 18/2024 was published,
which readjusted gas prices in PIST, and these were passed on to end users through ENARGAS Resolution No. 741/2024 on November 04, 2024.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On December 3, 2024, Resolution SE No. 386/2024 was published,
which readjusted gas prices in PIST, and these were passed on to end users through ENARGAS Resolution No. 825/2024 on December 04, 2024.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Finally, on December 31, 2024, Resolution SE No. 602/2024
was published, which readjusted gas prices in PIST, and these were passed on to end users through Resolution ENARGAS No. 921/2024 dated
December 31. This resolution maintains the accumulated daily differences (DDA&#8217;) included in the unchanged tariff, which were last
modified in the tariff table published at the end of 2019 according to Resolution ENARGAS No. 799/2019. In relation to the above, on November
22, 2024, ENARGAS ordered the public consultation of the project for the general procedure of calculation and determination of the DDAs.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>(ii)</B></TD><TD STYLE="text-align: justify"><B>Gas transportation agreements</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">According to the regulatory framework, and similar to what
is referred to regarding the cost of gas, the <I>pass-through</I> principle applies to the cost of the service provided by the carrier
(in the case of the Company, Transportadora de Gas del Norte S.A. or &quot;TGN&quot;). Therefore, the final rates for users must include
the cost of transportation acquired by the Company and must be modified, subject to the approval of ENARGAS, as a result of variations
in its price. Thus, the Company is not affected by the cost of transportation or variations in it, as it is passed on to the end customer.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">After the Public Hearing held on January 4, 2023, by ENARGAS,
which aimed, among other things, to temporarily adjust the tariffs for the public service of natural gas transportation, Resolution ENARGAS
No. 187/2023 was published granting a 95% increase in the transportation tariff. In compliance with the pass-through principle, this tariff
was reflected in the tariff schedules of the Distributor effective from April 29, 2023.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On December 14, 2023, ENARGAS, through Resolution No. 704/2023,
called for a new Public Hearing held on January 8, 2024, to consider the temporary adjustment of the tariffs for the public service of
natural gas transportation. The reversal of the Northern Gas Pipeline of TGN and the criteria for tariffing and capacity allocation were
also put up for consideration. By ENARGAS Resolution 52/2024, the validity of AP 104 was declared, determining, through ENARGAS Resolution
113/2024, the approval of the transition tariff tables effective from April 3 of this year, which provided for a monthly update through
the monthly tariff update formula, applicable from May 2024, considering the evolution of the Wholesale Internal Price Index (IPIM), General
Level, the Registered Private Sector Salary Index (IVS), and the Construction Cost Index, Materials chapter (ICC). This update formula
was subsequently suspended by instruction of the Ministry of Economy and regulated through ENARGAS Resolution 224/2024.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">In the months of August, September, October, November, December
2024, and January 2025, new tariff schedules were approved that include an increase in the transportation fee, through ENARGAS Resolutions
No. 412/2024, No. 490/2024, No. 601/2024, No. 736/2024, No. 814/2024, and No. 914/2024 respectively. On January 14, 2025, through ENARGAS
Resolution No. 16/2025, a call for Public Hearing was made in order to consider: i) Five-Year Review of Transportation Tariffs; ii) Methodology
for periodic adjustment of transportation tariffs. This was held on February 6, 2025.</P>


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<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">At the same time, the necessary work is being completed for
the reversal of the Northern Gas Pipeline of TGN, which will allow the center and north of the country to be supplied with gas from Vaca
Muerta, completely replacing the imported gas from Bolivia. Given that this constitutes a significant change in the historical configuration
of the national transportation system, the Authorities are analyzing the necessary changes for the required contractual and tariff restructuring,
as well as the organization of any open tenders for the assignment of additional and/or complementary transportation capacity that may
be needed.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The minimum commitment agreed upon by DGC amounts, based on
current tariff, to approximately 99,739,490 between January 1, 2025, and December 31, 2029, distributed over different periods measured
in years as follows:</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="width: 16%; border: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt"><B>2025</B></FONT></TD>
    <TD STYLE="width: 18%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt"><B>2026</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt"><B>2027</B></FONT></TD>
    <TD STYLE="width: 17%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt"><B>2028</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt"><B>2029</B></FONT></TD>
    <TD STYLE="width: 17%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">30,016,376</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">18,708,217</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">18,708,217</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">16,153,340</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">16,153,340</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt"><B>99,739,490</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The minimum commitment agreed upon by DGCU amounts, based
on current tariff, to approximately 133,444,095 between January 1, 2025, and December 31, 2029, distributed over different periods measured
in years as follows:</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: top; width: 16%; border: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt"><B>2025</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 18%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt"><B>2026</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 16%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt"><B>2027</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 17%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt"><B>2028</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 16%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt"><B>2029</B></FONT></TD>
    <TD STYLE="width: 17%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 9pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">26,688,819</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">26,688,819</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">26,688,819</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">26,688,819</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt">26,688,819</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 9pt"><B>133,444,095</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Under certain circumstances established in the agreements
and in the service regulations of TGN, the Company may reduce its minimum commitments.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The Management of the Company estimates that there will be
no losses arising from the fulfillment of these agreements.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On April 30, 2025, ENARGAS Resolution No. 255/25 was published,
approving the Five-Year Fare Review (&#8220;RQT&#8221;), authorizing an increase to be applied in 31 equal and consecutive installments.
It also approves the tariff schedules effective as of May 1, 2025.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On June 6, 2025, ENARGAS Resolution No. 351/25 was published,
approving the monthly transportation tariff update mechanism based on a polynomial formula that includes 50% of the CPI and 50% of the
IPIM. Additionally, the tariff schedules effective as of their publication in the Official Gazette were also approved at the same time.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>(iii)</B></TD><TD STYLE="text-align: justify"><B>Distribution tariff</B></TD></TR></TABLE>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Section No. 38 of the Gas Law establishes that the applicable
tariffs for the services provided by distributors must grant reasonable profitability and cover all reasonable operating costs related
to the service, taxes, and amortizations. On the other hand, Section No. 39 establishes that the profitability must be similar to that
of other activities of comparable risk and relate to the degree of efficiency and satisfactory provision of the services.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The License establishes that gas distribution tariffs must
be calculated in USD and must be expressed in ARS, in accordance with Law No. 23.928 of Convertibility ('Convertibility Law') or the one
that replaces it, at the time of application to billing. After the Argentine crisis of 2001, in 2002 the Government enacted Law No. 25.561
('Emergency Law'), which contains provisions that invalidate clauses related to tariff adjustments in USD and indexing clauses based on
external price indices such as the Producer Price Index ('PPI').</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Tariffs are set during the process of the Five-Year Rate Review
('RQT') for periods of five years based on the scheme known as price-cap or maximum prices.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Within the framework of Law No. 27,541, in December 2020,
Decree No. 1,020/2020 was published, which initiated the process of renegotiating the current tariff review, establishing a maximum period
of 2 years. In the same act, the agreements corresponding to the last tariff review were suspended, and ENARGAS was authorized to enter
into renegotiation agreements with the licensees, while the intervention of ENARGAS was extended &quot;&#8230;for a period of ONE (1)
year from its expiration or until the renegotiation of the tariff review provided by this decree is completed, whichever occurs first.&quot;
In this regard, the Company signed a Transitional Renegotiation Agreement.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">By virtue of Decree No. 815/2022 which extended for one year
the deadline for the renegotiation established by Decree No. 1,020/2020, and the AP celebrated on January 4, 2023, by ENARGAS; the company
has adhered to a new Addendum to the Transitional Renegotiation Agreement, which was ratified by Decree No. 250/2023 published on April
29, 2023, in the Bolet&iacute;n Oficial. This allowed the entry into force of the new tariff tables according to ENARGAS Resolution No.
196/2023, which reflects the differential increases by category agreed upon in the distribution tariff, resulting in an average increase
of 105%.</P>


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<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">This resolution also includes the increases granted in the
transportation tariff, as detailed in the previous section, as well as the gas prices effective from March 1, 2023, and May 1, 2023, according
to SE Resolution No. 6/2023.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On December 14, 2023, ENARGAS, through Resolution No. 704/2023,
called for a new AP to be held on January 8, 2024, to consider the temporary adjustment of the rates for the public natural gas distribution
service, as well as the determination of a monthly update index for them. The Distributor submitted its request for a temporary tariff
adjustment to meet the commitment made under Annex V of ENARGAS Resolution No. 4,359/2017, with monthly adjustments based on the IPIM
(Wholesale Price Index) General Level, to be applied from February 1st, 2024. By ENARGAS Resolution No. 52/2024, the validity of AP No.
104 was declared, determining, through ENARGAS Resolution No. 117/2024 (DGCE) and No. 116/2024 (DGCU), the approval of the transitional
tariff tables effective as of April 3rd of this year, which contemplated an extraordinary update on account of the Five-Year Tariff Review,
and a monthly update mechanism [GM1] through a polynomial formula, applicable as of May 2024, which considered the evolution of the Wholesale
Domestic Price Index (IPIM), General Level, the Wage Index - Sector Registered Private Sector (IVS) and the Construction Cost Index, Materials
chapter (ICC). This monthly adjustment formula was subsequently suspended by instruction of the Ministry of Economy and regulated by ENARGAS
Resolution No. 224/2024, maintaining discretionary monthly adjustments.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">In the months of August, September, October, November, December
2024, and January 2025, new tariff schedules were approved that include an increase in the distribution tariff, through ENARGAS <B>Resolutions
416/2024, 495/2024, 606/2024, 741/2024, 825/2024, and 921/2024</B> respectively. On January 14, 2025, by means of ENARGAS Resolution No.
16/2025, a call for AP was made with the purpose of considering i) Five-Year Review of Gas Distribution Tariffs; ii) Methodology for Periodic
Adjustment of Gas Distribution Tariffs; iii) Modification of the Distribution Service Regulation in relation to matters related to the
power to cut off service for non-payment. This consultation was held on February 6, 2025.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Within this update framework, new tariff schedules were approved
in January, February, March, and April 2025, including an increase in the distribution rate. These were approved through ENARGAS Resolutions
No. 921/2024, No. 67/2025, No. 129/2025, and No. 188/2025 for the DGCE, and No. 920/24, No. 68/2025, No. 128/2025, and No. 189/2025 for
the DGCU, respectively.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On January 14, 2025, through ENARGAS Resolution No. 16/2025,
a call was made to the Public Administration (AP) for consideration of: (i) a Five-Year Review of Gas Distribution Rates; (ii) a Methodology
for the Periodic Adjustment of Gas Distribution Rates; iii) Amendment to the Distribution Service Regulations regarding the concepts related
to the power to cut off service for nonpayment. This amendment was made on February 6, 2025, and its validity was approved by ENARGAS
Resolution No. 182/2025.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On April 30, 2025, ENARGAS Resolution No. 260/25 for DGCE
and No. 258/25 for DGCU was published, approving the Five-Year Tariff Review. It authorizes a 15.18% increase for DGCE and a 9.5% increase
for DGCU, to be applied in 31 consecutive monthly installments, with compensation equal to the real WACC rate of 7.64% for the financial
cost of these installments. The Resolution also approved the tariff schedules effective May 1, 2025.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On June 6, 2025, ENARGAS Resolution No. 364/25 for DGCE and
No. 365/25 for DGCU was published, approving the mechanism for monthly updating distribution tariffs because of inflation. This mechanism
involves the application of a polynomial formula that averages the evolution of the IPC and the IPIM in equal parts. Additionally, the
tariff schedules, effective from their publication in the Official Gazette, were approved at the same event. These schedules contain the
second installment of the RQT increase plus the first month of inflation adjustment.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B><U>NOTE 21. OBJECTIVES AND FINANCIAL RISK MANAGEMENT POLICIES</U></B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">The activities of the Group and the market
in which it operates expose it to a series of financial risks: market risk (including the exchange rate risk, the interest rate risk and
the price risk), credit risk and liquidity risk.</P>

<P STYLE="font: 4pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">The Management Boards evaluate the evolution
of management, and the analysis of associated risks aimed at covering the relevant aspects of the business. Likewise, the Companies have
established recurring practices of generation, issuance, analysis, evaluation, and monitoring of economic-financial information, which
meet this objective.</P>

<P STYLE="font: 4pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">The group continues permanently with the
policy of studying the evolution of internal and international financial markets and the possibilities of obtaining funds that the companies
may require, within the framework of a prudent policy in measuring risk and evaluating the conditions required by financial entities.</P>

<P STYLE="font: 6pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>21.1 Market risk</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Market risk refers to the risk of fluctuation of the fair
value or the future cash flows of a financial instrument due to changes in the prices of the market. The prices of the market involve
these types of risk: the interest rate risk, the exchange rate risk, and the price risk of basic products. The financial instruments affected
by the market risk include financial investments held to maturity and fund placements, financial assets measured at fair value with changes
in income (loss).</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">-</TD><TD><B>Interest rate risk</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Interest rate risk refers to the risk of fluctuation of the
fair value or the cash flow of a financial instrument due to changes in the interest rates of the market. The Group has mutual funds exposed
to rate variations.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 14.2pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The Group does not use financial instruments to manage its
exposure to the variations in interest rates and, consequently, has not implemented transactions that may cause risks of non-recorded
future loss in the financial statements associated with such financial instruments.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">-</TD><TD STYLE="text-align: justify"><B>Exchange rate risk</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Exchange rate risk refers to the risk of fluctuation of the
fair value or the future cash flow of a financial instrument due to changes in the exchange rates.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 14.2pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">As of December 31, 2024, the Group has no loans in foreign
currency, nor significant trade balances that may generate risks of non-recorded future loss in the financial statements associated with
such financial instruments.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">-</TD><TD STYLE="text-align: justify"><B>Price risk of basic products</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">As of December 31, 2024, the Group has no significant risks
related to the prices of basic products, since purchases are made to local suppliers, even though the price of certain inputs is strongly
influenced by the international price of certain commodities.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 14.2pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The exposure to the variations in its prices is considered
in the operating quotes and represents a risk in the quoted cost structure, however, the Group evaluates it as low risk.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>21.2 Credit risk</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Credit risk is the risk that a counterparty fails to meet
the obligations assumed in a financial instrument or commercial contract, resulting in a financial loss. The group is exposed to credit
risk due to its financial activities, including deposits in banks and financial institutions and other financial instruments.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Deposits in banks and financial institutions are managed through
the Management and Finance Department in accordance with corporate policy. The credit risk of balances in banks and other financial instruments
is limited because they are only used with counterparties approved by corporate policy that have a high credit rating.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">Limits are established to minimize the concentration
of credit risk and thus mitigate the financial loss that may arise from potential counterparty defaults. The group's maximum exposure
to credit risk from the relevant items on the statement of financial position is their book value.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">DGC and DGCU provide the services of distribution,
transportation, and sale of gas when applicable, to residential customers, businesses, industries, power plants, and public departments,
and grant credit in accordance with the regulations of the service provided, generally without requiring collateral. The risk of uncollectible
varies from customer to customer mainly due to their financial situation. In this regard, the companies do not have a significant concentration
of credit risk from customers. No individual customer accounts for more than 10% of the sales for the fiscal year ending December 31,
2024.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">In DGC, as of December 31, 2024, net accounts
receivable from trust charges total 44,067,719, and a provision for bad debt risk of 1,500,201 has been recorded.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">In DGCU, as of December 31, 2024, net accounts
receivable from trust charges total 42,713,733, and a provision for bad debt risk of 2,867,983 has been recorded.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">The concentration of credit risk from sales
to commercial debtors and from short-term placements and cash deposits in banking institutions has not changed substantially as of December
31, 2024.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">The maximum exposure of the group to credit
risk is given by the carrying amount of its sales credits after deducting the corresponding provisions. The need to record a devaluation
is analyzed at each closing date.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">The group evaluates the risk of bad debt
and establishes sufficient provisions for likely uncollectible receivables.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 2pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">As additional information, the following
information on the concentration of operations is presented:</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><B>a)<FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Customers:</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0 0 0 42.55pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">Gas consumption by residential customers
fluctuates throughout the year, significantly increasing during the winter season. Although the gas billing to these customers is not
significant in terms of the amounts considered individually, it represented approximately 69% and 66% of gross sales in DGC, while in
DGCU, the billing represented approximately 68% and 64% of gross sales, for the fiscal years ending December 31, 2024, and 2023, respectively.
The remaining sales mainly correspond to industries, power plants, sub distributors, and CNG. Gas consumption by some industries and power
plants occurs under service conditions that establish the interruptibility of the supply, which is essentially verified during the winter
season.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><B>b)<FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Suppliers: </B></P>

<P STYLE="font: 2pt Times New Roman,serif; margin: 0 0 0 42.55pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">The main distribution costs of gas are represented
by gas purchases from producers and their subsequent transportation to the gas distribution system of the companies.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">In both DGC and DGCU, the main suppliers
are YPF S.A., IEASA, TGN S.A., and TECPETROL S.A.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">The amounts payable to these suppliers are
as follows:</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">-<B>Distribuidora de Gas del Centro S.A.</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center; text-indent: 3.55pt"><FONT STYLE="font-size: 7pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center; text-indent: 3.55pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center; text-indent: 3.55pt"><FONT STYLE="font-size: 7pt"><B>12.31.2023</B></FONT></TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: justify; width: 68%"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IEASA</FONT></TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right; text-indent: 3.55pt; width: 12%"><FONT STYLE="font-size: 7pt">31,783,776</FONT></TD>
    <TD STYLE="padding-right: 10.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right; width: 3%">&nbsp;</TD>
    <TD STYLE="padding-right: 10.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right; width: 2%">&nbsp;</TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right; width: 12%"><FONT STYLE="font-size: 7pt">6,411,048</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right; width: 3%">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Y.P.F S.A.</FONT></TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right; text-indent: 3.55pt"><FONT STYLE="font-size: 7pt">2,514,507</FONT></TD>
    <TD STYLE="padding-right: 10.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 10.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">1,883,499</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TECPETROL S.A.</FONT></TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right; text-indent: 3.55pt"><FONT STYLE="font-size: 7pt">1,095,292</FONT></TD>
    <TD STYLE="padding-right: 10.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 10.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">586,109</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TGN S.A.</FONT></TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right; text-indent: 3.55pt"><FONT STYLE="font-size: 7pt">4,327,286</FONT></TD>
    <TD STYLE="padding-right: 10.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 10.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">1,106,370</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right; text-indent: 3.55pt"><FONT STYLE="font-size: 7pt"><B>39,720,861</B></FONT></TD>
    <TD STYLE="padding-right: 10.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 10.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>9,987,026</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% that represents of the total accounts payable and other accounts payable</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt double; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right; text-indent: 3.55pt"><FONT STYLE="font-size: 7pt"><B>74%</B></FONT></TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right; text-indent: 3.55pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt double; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>61%</B></FONT></TD>
    </TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">During the exercises ended on December 31,
2024, 2023 and 2022, the Company has made the following transactions with these suppliers:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: top; width: 51%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>12.31.2023</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 2%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>12.31.2022</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 7pt">Purchase of gas from IEASA</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">67,418,851</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">53,473,575</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">58,554,087</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 7pt">Purchase of gas from YPF S.A.</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">6,957,468</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">6,095,794</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">6,021,230</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 7pt">Purchase of gas from TECPETROL S.A.</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">5,742,557</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">5,235,987</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">5,228,185</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 7pt">Transport carried out by TGN S.A.</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">43,449,792</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">20,460,202</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">26,621,002</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 7pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>123,568,668</B></FONT></TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>85,265,558</B></FONT></TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>96,424,504</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>% that represents over the total of purchases and expenses</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 2.25pt double; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>58%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 2.25pt double; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>50%</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 2.25pt double; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>50%</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>


<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">-<B>Distribuidora de Gas Cuyana S.A.</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: top; width: 73%; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 13%; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center; text-indent: 3.55pt"><FONT STYLE="font-size: 7pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 13%; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: center; text-indent: 3.55pt"><FONT STYLE="font-size: 7pt"><B>12.31.2023</B></FONT></TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;YPF S.A.</FONT></TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right; text-indent: 3.55pt"><FONT STYLE="font-size: 7pt">6,519,584</FONT></TD>
    <TD STYLE="padding-right: 10.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">4,608,590</FONT></TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IEASA</FONT></TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right; text-indent: 3.55pt"><FONT STYLE="font-size: 7pt">4,570,840</FONT></TD>
    <TD STYLE="padding-right: 10.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">443,286</FONT></TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TECPETROL S.A.</FONT></TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right; text-indent: 3.55pt"><FONT STYLE="font-size: 7pt">2,942,445</FONT></TD>
    <TD STYLE="padding-right: 10.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">1,755,101</FONT></TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TGN S.A.</FONT></TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right; text-indent: 3.55pt"><FONT STYLE="font-size: 7pt">2,268,450</FONT></TD>
    <TD STYLE="padding-right: 10.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">1,297,947</FONT></TD>
    </TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right; text-indent: 3.55pt"><FONT STYLE="font-size: 7pt"><B>16,301,319</B></FONT></TD>
    <TD STYLE="padding-right: 10.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>8,104,924</B></FONT></TD>
    </TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 7pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% that represents of the total accounts payable and other accounts payable</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right; text-indent: 3.55pt"><FONT STYLE="font-size: 7pt"><B>59%</B></FONT></TD>
    <TD STYLE="padding-right: 10.6pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>58%</B></FONT></TD>
    </TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">During the period of exercise ended on December
31, 2024, 2023 and 2022, the Company has made the following transactions with these suppliers:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: top; width: 51%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>12.31.2024</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>12.31.2023</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 7pt"><B>12.31.2022</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 7pt">Purchase of gas from YPF S.A.</FONT></TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 48.6pt; font-family: Times New Roman,serif; text-align: right; text-indent: -48.6pt"><FONT STYLE="font-size: 7pt">32,791,168</FONT></TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">30,341,342</FONT></TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">34,262,507</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 7pt">Purchase of gas from IEASA</FONT></TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">14,453,716</FONT></TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">4,415,591</FONT></TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">6,449,340</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 7pt">Purchase of gas from TECPETROL S.A.</FONT></TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">15,469,707</FONT></TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">14,946,842</FONT></TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">16,099,383</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 7pt">Transport carried out by TGN S.A.</FONT></TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">29,210,331</FONT></TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">16,561,493</FONT></TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt">17,769,107</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 7pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>91,924,922</B></FONT></TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>66,265,268</B></FONT></TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 7pt"><B>74,580,337</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 7pt"><B>% that represents over the total of purchases and expenses</B></FONT></TD>
    <TD STYLE="border-bottom: Black 2.25pt double; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>49%</B></FONT></TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.25pt double; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>43%</B></FONT></TD>
    <TD STYLE="padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.25pt double; padding-right: 3.55pt; padding-left: 3.55pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 8pt"><B>44%</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>



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<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>21.3 Liquidity risk</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The Group periodically monitors the risk of cash flow deficits.
Management supervises the updated projections on the liquidity requirements of the Group to ensure there is enough cash to reach operational
needs. A cash surplus held by the Group from balances above the required ones to administer working capital is invested in temporary placements.</P>

<P STYLE="font: 5pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>21.4 Capital management</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Capital includes equity attributable to shareholders.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The main objective of the management of the Group capital
is to ensure it keeps a solid credit rating and healthy capital ratios to support the business and maximize value for the shareholder.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The Group manages a capital structure and makes the relevant
adjustments based on the changes in the economic conditions.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">During the fiscal years ended December 31, 2024, and 2023,
there were no changes in the purposes, nor in the policies, related to capital management.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>21.5 Financial assets delivered and received as collateral</B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">As of December 31, 2024, the Group has no assets delivered
or received as collateral.</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B><U>NOTE 22. ENVIRONMENT</U></B></P>

<P STYLE="font: 3pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Management estimates that the Group operations substantially
adjust to the laws and regulations related to the protection of the environment currently in force in the Argentine Republic, as these
laws have been historically interpreted and applied. However, local, provincial and national authorities tend to strengthen the requirements
established in the applicable laws and to implement environmental guidelines in many aspects similar to those currently in force in the
United States of America and in EU countries.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B><U>NOTE 23. SUBSEQUENT EVENTS</U></B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 12.45pt 0 0; text-align: justify">At the date of issuance of these financial statements,
there have been no significant subsequent events that could have an effect on the Group&acute;s assets and results of operations as of
December 31, 2024.</P>

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<P STYLE="font: 10pt Times New Roman,serif; margin: 0 12.45pt 0 0; text-align: justify"></P>

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<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 7pt; text-align: center"><B>CERTIFICATE</B></P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 7pt; text-align: justify">I, Fernando Roberto Bonnet, certify that:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 34pt">1.</TD><TD STYLE="text-align: justify">I have reviewed this annual report on Form 20-F/A of Central Puerto S.A.;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 34pt">2.</TD><TD STYLE="text-align: justify">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to
state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not
misleading with respect to the period covered by this report;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 34pt">3.</TD><TD STYLE="text-align: justify">Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations and cash flows of the company as of, and for, the
periods presented in this report;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 34pt">4.</TD><TD STYLE="text-align: justify">The company&rsquo;s other certifying officer and I are responsible for establishing and maintaining disclosure
controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined
in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the company and have:</TD></TR></TABLE>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 7pt 0.75in; text-align: justify">(a) Designed such disclosure controls
and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information
relating to the company, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during
the period in which this report is being prepared;</P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 7pt 0.75in; text-align: justify">(b) Designed such internal control
over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable
assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance
with generally accepted accounting principles;</P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 7pt 0.75in; text-align: justify">(c) Evaluated the effectiveness
of the company&rsquo;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the
disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 7pt 0.75in; text-align: justify">(d) Disclosed in this report any
change in the company&rsquo;s internal control over financial reporting that occurred during the period covered by the annual report that
has materially affected, or is reasonably likely to materially affect, the company&rsquo;s internal control over financial reporting;
and</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 34pt">5.</TD><TD STYLE="text-align: justify">The company&rsquo;s other certifying officer and I have disclosed, based on our most recent evaluation
of internal control over financial reporting, to the company's auditors and the audit committee of the company&rsquo;s board of directors
(or persons performing the equivalent functions):</TD></TR></TABLE>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 7pt 0.75in; text-align: justify">(a) All significant deficiencies
and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely
affect the company&rsquo;s ability to record, process, summarize and report financial information; and</P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 7pt 0.75in; text-align: justify">(b) Any fraud, whether or not material,
that involves management or other employees who have a significant role in the company&rsquo;s internal control over financial reporting.</P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 7pt; text-align: justify">Date: June 27, 2025</P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 7pt; text-align: justify">&nbsp;<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman , Times, serif; letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; text-decoration-thickness: initial; text-decoration-style: initial; width: 30%">
<TR><TD STYLE="width: 5%"><BR>By:&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: left; vertical-align: bottom; width: 95%">/S/ FERNANDO ROBERTO BONNET</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1px solid; vertical-align: top">Name: Fernando Roberto Bonnet<BR>Title: Chief Executive Officer</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 7pt; text-align: justify">&nbsp;</P>


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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-12.2
<SEQUENCE>3
<FILENAME>ex12-2.htm
<DESCRIPTION>EX-12.2
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<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 7pt; text-align: center"><B>CERTIFICATE</B></P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 7pt; text-align: justify">I, Enrique Terraneo, certify that:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 34pt">1.</TD><TD STYLE="text-align: justify">I have reviewed this annual report on Form 20-F/A of Central Puerto S.A.;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 34pt">2.</TD><TD STYLE="text-align: justify">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to
state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not
misleading with respect to the period covered by this report;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 34pt">3.</TD><TD STYLE="text-align: justify">Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations and cash flows of the company as of, and for, the
periods presented in this report;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 34pt">4.</TD><TD STYLE="text-align: justify">The company&rsquo;s other certifying officer and I are responsible for establishing and maintaining disclosure
controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined
in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the company and have:</TD></TR></TABLE>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 7pt 0.75in; text-align: justify">(a) Designed such disclosure controls
and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information
relating to the company, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during
the period in which this report is being prepared;</P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 7pt 0.75in; text-align: justify">(b) Designed such internal control
over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable
assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance
with generally accepted accounting principles;</P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 7pt 0.75in; text-align: justify">(c) Evaluated the effectiveness
of the company&rsquo;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the
disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 7pt 0.75in; text-align: justify">(d) Disclosed in this report any
change in the company&rsquo;s internal control over financial reporting that occurred during the period covered by the annual report that
has materially affected, or is reasonably likely to materially affect, the company&rsquo;s internal control over financial reporting;
and</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 34pt">5.</TD><TD STYLE="text-align: justify">The company&rsquo;s other certifying officer and I have disclosed, based on our most recent evaluation
of internal control over financial reporting, to the company's auditors and the audit committee of the company&rsquo;s board of directors
(or persons performing the equivalent functions):</TD></TR></TABLE>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 7pt 0.75in; text-align: justify">(a) All significant deficiencies
and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely
affect the company&rsquo;s ability to record, process, summarize and report financial information; and</P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 7pt 0.75in; text-align: justify">(b) Any fraud, whether or not material,
that involves management or other employees who have a significant role in the company&rsquo;s internal control over financial reporting.</P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 7pt; text-align: justify">Date: June 27, 2025</P>

<P STYLE="font: 10pt/120% Arial, Helvetica, Sans-Serif; margin: 0 0 7pt; text-align: justify"><TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman , Times, serif; letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; text-decoration-thickness: initial; text-decoration-style: initial; width: 30%">
  <TR>
    <TD STYLE="width: 5%">By:&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; width: 95%">/S/ ENRIQUE TERRANEO<BR></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1px solid; vertical-align: top">Name: Enrique Terraneo<BR>Title: Chief Financial Officer</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 7pt; text-align: justify">&nbsp;</P>


</BODY>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-13.1
<SEQUENCE>4
<FILENAME>ex13-1.htm
<DESCRIPTION>EX-13.1
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<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 7pt; text-align: center"><B>Certification by CEO and CFO pursuant
to<BR>
Section 1350, as adapted pursuant to Section 906<BR>
of the Sarbanes &ndash; Oxley Act of 2002</B></P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 7pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 7pt; text-align: justify; text-indent: 0.25in">The certification
set forth below is being furnished to the Securities and Exchange Commission, in connection with Central Puerto S.A.&rsquo;s Annual Report
on Form 20-F/A for the year ended December 31, 2024 (the &ldquo;Annual Report&rdquo;) solely for the purpose of complying with Rule 13a-14(b)
or Rule 15d-14(b) of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;) and Section 1350 of Chapter 63 of
Title 18 of the United States Code as adapted pursuant to Section 906 of the Sarbanes &ndash; Oxley Act of 2002.</P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 7pt; text-align: justify">Fernando Roberto Bonnet, the Chief Executive
Officer and Enrique Terraneo, the Chief Financial Officer of Central Puerto S.A. each certifies that, to the best of their knowledge:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 34pt">1.</TD><TD STYLE="text-align: justify">the Annual Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange
Act of 1934; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 34pt">2.</TD><TD STYLE="text-align: justify">the information contained in the Annual Report fairly presents, in all material respects, the financial
condition and results of operations of Central Puerto S.A.</TD></TR></TABLE>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 7pt; text-align: justify">Date: June 27, 2025</P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 7pt; text-align: justify">&nbsp;&nbsp;</P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman , Times, serif; letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; text-decoration-thickness: initial; text-decoration-style: initial; width: 30%">
  <TR>
    <TD STYLE="width: 5%">By:&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; width: 95%">/S/ FERNANDO ROBERTO BONNET</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1px solid; vertical-align: top">Name: Fernando Roberto Bonnet<BR>Title: Chief Executive Officer</TD></TR>
  </TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 10pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-align: left; text-indent: 0pt; margin-top: 0; margin-bottom: 6pt">&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/16px Times New Roman, Times, Serif; margin: 0 0 7pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px">&nbsp;</P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman , Times, serif; letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; text-decoration-thickness: initial; text-decoration-style: initial; width: 30%">
  <TR>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="width: 5%">By:&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 95%">/S/ ENRIQUE TERRANEO</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1px solid; vertical-align: top">Name: Enrique Terraneo<BR>Title: Chief Financial Officer</TD></TR>
  </TABLE>

</BODY>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>cepu202506196k_001.jpg
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</SEC-DOCUMENT>
