<SEC-DOCUMENT>0001292814-21-004427.txt : 20211116
<SEC-HEADER>0001292814-21-004427.hdr.sgml : 20211116
<ACCEPTANCE-DATETIME>20211116162110
ACCESSION NUMBER:		0001292814-21-004427
CONFORMED SUBMISSION TYPE:	SC TO-T/A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20211116
DATE AS OF CHANGE:		20211116
GROUP MEMBERS:		SOUTH AMERICAN ENERGY LLP

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EDENOR
		CENTRAL INDEX KEY:			0001395213
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			C1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13E3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-83696
		FILM NUMBER:		211416390

	BUSINESS ADDRESS:	
		STREET 1:		AV. DEL LIBERTADOR 6363
		CITY:			CITY OF BUENOS AIRES
		STATE:			C1
		ZIP:			C1428ARG
		BUSINESS PHONE:		54-11-4346-5000

	MAIL ADDRESS:	
		STREET 1:		AV. DEL LIBERTADOR 6363
		CITY:			CITY OF BUENOS AIRES
		STATE:			C1
		ZIP:			C1428ARG

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EDENOR
		CENTRAL INDEX KEY:			0001395213
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			C1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC TO-T/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-83696
		FILM NUMBER:		211416389

	BUSINESS ADDRESS:	
		STREET 1:		AV. DEL LIBERTADOR 6363
		CITY:			CITY OF BUENOS AIRES
		STATE:			C1
		ZIP:			C1428ARG
		BUSINESS PHONE:		54-11-4346-5000

	MAIL ADDRESS:	
		STREET 1:		AV. DEL LIBERTADOR 6363
		CITY:			CITY OF BUENOS AIRES
		STATE:			C1
		ZIP:			C1428ARG

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EMPRESA DE ENERGIA DEL CONO SUR S.A.
		CENTRAL INDEX KEY:			0001875026
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		SC TO-T/A

	BUSINESS ADDRESS:	
		STREET 1:		AV. MAIPU 1252, PISO 12
		CITY:			BUENOS AIRES
		STATE:			C1
		ZIP:			C1006COM
		BUSINESS PHONE:		5411 4110-5150

	MAIL ADDRESS:	
		STREET 1:		AV. MAIPU 1252, PISO 12
		CITY:			BUENOS AIRES
		STATE:			C1
		ZIP:			C1006COM
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC TO-T/A
<SEQUENCE>1
<FILENAME>edelcos20211115_sctota.htm
<DESCRIPTION>EDELCOS20211115_SCTOTA
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>


<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 11.4pt 0 0; text-align: center"><FONT STYLE="letter-spacing: -0.05pt"><B>UNITED</B></FONT><B>
STATES</B></P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0.25pt 0 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0.95pt 0 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0.25pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SCHEDULE TO</B></P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>AMENDMENT NO. 1 (RULE 14D-100)</B></P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0.5pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 9.5pt/110% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Tender Offer Statement under Section 14(d)(1)
or 13(e)(1) of the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.3pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0 1.85pt 0 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 1.85pt 0 0; text-align: center"><FONT STYLE="font-size: 13.5pt; background-color: white"><B>EMPRESA
DISTRIBUIDORA Y COMERCIALIZADORA NORTE&nbsp;S.A. (EDENOR)<BR>
</B></FONT><FONT STYLE="font-size: 10pt; background-color: white">(Name of Subject Company (Issuer))</FONT></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0 1.85pt 0 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0 1.85pt 0 0; text-align: center"><B>EMPRESA DE ENERG&Iacute;A DEL CONO SUR
S.A. </B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0 1.85pt 0 0; text-align: center"><B>And</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0 1.85pt 0 0; text-align: center"><B>SOUTH AMERICAN ENERGY LLP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.55pt 1.85pt 0 0; text-align: center">(Names of Filing Persons (Offerors))</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0.4pt 0 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>CLASS B
COMMON SHARES, par value 1 Peso per share </B></FONT><B>(ISIN: ARENOR010020), including Class B Shares represented by American Depositary
Shares </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.5pt 1.85pt 0 0; text-align: center">(Title of Class of Securities)</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0.45pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.5pt 1.85pt 0 0; text-align: center"><B>29244A102</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.5pt 1.85pt 0 0; text-align: center">(CUSIP Number of Class of Securities)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><B>SCHEDULE 13E-3<BR>
RULE 13E-3 TRANSACTION STATEMENT UNDER SECTION 13(E) OF THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-right: 1.8pt; margin-left: 0"><B>EMPRESA DE ENERG&Iacute;A
DEL CONO SUR S.A.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-right: 1.8pt; margin-left: 0"><B>And</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-right: 1.8pt; margin-left: 0"><B>SOUTH AMERICAN ENERGY
LLP</B></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0.55pt 1.85pt 0 0; text-align: center">(Names of Filing Persons (Offerors))</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0.5pt 1.85pt 0 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>CLASS B
COMMON SHARES, par value 1 Peso per share&nbsp;</B></FONT><B><FONT STYLE="font-size: 11pt">(ISIN: ARENOR010020),&nbsp;</FONT><FONT STYLE="font-size: 10pt">including</FONT><FONT STYLE="font-size: 11pt"><BR>
Class B Shares represented by American Depositary Shares</FONT></B></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0.5pt 1.85pt 0 0; text-align: center">(Title of Class of Securities)</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0.5pt 1.85pt 0 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.5pt 1.85pt 0 0; text-align: center"><B>29244A102</B></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0.5pt 1.85pt 0 0; text-align: center">(CUSIP Number of Class of Securities)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.5pt 1.85pt 0 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0.45pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.5pt 1.85pt 0 0; text-align: center"><B>Nicolas Mallo Huergo</B></P>

<P STYLE="font: 10pt/103% Times New Roman, Times, Serif; margin: 0.5pt 6.7pt 0 0; text-align: center"><B>c/o Maip&uacute; 1252, 12th floor,<BR>
City of Buenos Aires, (CP1006),<BR>
Argentina</B></P>

<P STYLE="font: 10pt/103% Times New Roman, Times, Serif; margin: 0.5pt 6.7pt 0 0; text-align: center"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 1 -->
    <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></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/103% Times New Roman, Times, Serif; margin: 0.5pt 6.7pt 0 0; text-align: center">With a copy to:</P>

<P STYLE="font: 10pt/103% Times New Roman, Times, Serif; margin: 0.5pt 6.7pt 0 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/103% Times New Roman, Times, Serif; margin: 0.5pt 6.7pt 0 0; text-align: center"><B>Christopher C. Paci, Esq.</B></P>

<P STYLE="font: 10pt/103% Times New Roman, Times, Serif; margin: 0.5pt 6.7pt 0 0; text-align: center"><B>J.A. Glaccum, Esq.<BR>
Nicolas Teijeiro, Esq.<BR>
DLA Piper LLP (US)</B></P>

<P STYLE="font: 10pt/103% Times New Roman, Times, Serif; margin: 0.5pt 6.7pt 0 0; text-align: center"><B>1251 6th Ave.<BR>
New York, NY 10020<BR>
(212) 225-2000</B></P>

<P STYLE="font: 10pt/103% Times New Roman, Times, Serif; margin: 0.5pt 0 0; text-align: center; text-indent: -0.05pt">(Name, Address and
Telephone Number of Person Authorized to Receive Notices and Communications on behalf of the Filing Persons)</P>

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

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CALCULATION OF FILING FEE</B></P>

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

<P STYLE="margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; width: 50%"><P STYLE="font: 11pt/9.9pt Times New Roman, Times, Serif; margin: 0 0 1.4pt; text-align: center"><FONT STYLE="font-size: 7.5pt"><B>Transaction
Valuation</B></FONT><B><FONT STYLE="font-size: 6pt">(1)&#9;</FONT><FONT STYLE="font-size: 7.5pt">&nbsp;</FONT></B></P></TD>
  <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; width: 50%"><P STYLE="font: 11pt/9.9pt Times New Roman, Times, Serif; margin: 0 0 1.4pt; text-align: center"><B><FONT STYLE="font-size: 7.5pt">Amount of Filing Fee</FONT></B></P></TD></TR>

<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="margin: 0"></P>
    <P STYLE="margin: 0">U.S.$114,594,527&#9;</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><P STYLE="margin: 0">U.S.$10,622.82</P></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0.05pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: MS Gothic, Helvetica, Sans-Serif">&#9746;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Check the box if any part of the fee is offset as provided by Rule 0-11(a)(2)
and identify the filing with which the offsetting fee was previously paid. Identify the previous filing by registration statement number,
or the Form or Schedule and the date of its filing.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0.15pt; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="text-align: left; width: 30%"><DIV STYLE="border-top: Black 1pt solid; text-align: left; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/110% Times New Roman, Times, Serif; margin-top: 4.3pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 9pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Estimated for purposes of calculating the filing fee pursuant to Rule 0-11(d)
only. The Transaction Valuation was calculated assuming the purchase of all outstanding Class B Shares (including Class B shares underlying
the American Depositary Shares), other than Class B Shares and ADSs owned directly or indirectly by the Filing Person or its affiliates
(including shares held as treasury shares) at a purchase price of 29.34 Argentine pesos (&#8220;Ps.&#8221;) per Class B Share and converted
into U.S. dollars based on the official selling exchange rate of Ps. 105.25 per U.S.$1.00 as reported by Banco de la Naci&oacute;n Argentina
on November 10, 2021. As of November 10, 2021, there were 411,075,965 issued and outstanding Class B Shares (including Class B Shares
underlying the American Depositary Shares) but excluding shares owned by the Filing Person or its affiliates (including shares held as
treasury shares).</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6.7pt 0 0 290.6pt; text-indent: -290.6pt">Amount Previously Paid: US$10,622.82&#9;Filing
Party: Empresa de Energ&iacute;a del Cono Sur S.A. and South American Energy LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.9pt 0 0">Form or Registration No.: Schedule TO-T&#9;Date Filed: November
12, 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.9pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.95pt"><FONT STYLE="font-family: MS Gothic, Helvetica, Sans-Serif">&#9744;</FONT>&#9;Check
the box if the filing relates solely to preliminary communications made before the commencement of a tender offer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.95pt">Check the appropriate boxes below to designate any transactions
to which the statement relates:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.95pt"><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9746;</FONT>&#9;third
party tender offer subject to Rule 14d-1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0 22.95pt"><FONT STYLE="font-family: MS Gothic, Helvetica, Sans-Serif">&#9744;&#9;</FONT>issuer
tender offer subject to 13e-4.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0 22.95pt"><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9746;</FONT>&#9;going-private
transaction subject to Rule 13e-3.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0 22.95pt; text-indent: 0in"><FONT STYLE="font-family: MS Gothic, Helvetica, Sans-Serif">&#9744;&#9;</FONT>amendment
to Schedule 13D under Rule 13d-2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt">Check the following box if the filing is a final amendment reporting
the results of the tender offer:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.3pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.95pt">If applicable, check the appropriate box(es) below to designate
the appropriate rule provision(s) relied upon:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0 21.3pt; text-indent: 0in"><FONT STYLE="font-family: MS Gothic, Helvetica, Sans-Serif">&#9744;&#9;</FONT>Rule
13e-4(i) (Cross-Border Issuer Tender Offer)</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0.1pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: MS Gothic, Helvetica, Sans-Serif">&#9746;</FONT></TD><TD>Rule 14d-1(d) (Cross-Border Third-Party Tender Offer)</TD></TR></TABLE>


<!-- Field: Page; Sequence: 2 -->
    <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></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This Amendment No. 1 (this &#8220;<U>Amendment</U>&#8221;)
amends and supplements the Tender Offer Statement on a combined Schedule TO and Schedule 13E-3 under cover of Schedule TO originally filed
on November 12, 2021, (together with any subsequent amendments and supplements thereto, the &#8220;<U>Schedule TO</U>&#8221;) by Empresa
de Energ&iacute;a del Cono Sur S.A. (&#8220;Edelcos&#8221;) and South American Energy LLP (&#8220;SAE&#8221;, and together with Edelcos
the &#8220;Bidders&#8221;) and relates to the offer by the Bidders to purchase any and all outstanding Class B shares, par value Ps. 1.00
per share (the &#8220;<U>Class B Shares</U>&#8221;), including Class B Shares represented by American Depositary Shares (&#8220;<U>ADSs</U>&#8221;),
of Empresa Distribuidora y Comercializadora Norte S.A., a corporation organized under the laws of the Republic of Argentina (&#8220;<U>Edenor</U>&#8221;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The offer is being made on the terms and subject
to the conditions set forth in the offer to purchase dated November 12, 2021 (the &quot;<U>U.S. Offer to Purchase</U>&quot;) incorporated
herein by reference and in the related documents (which, together with any amendments or supplements thereto, collectively constitute
the &quot;<U>U.S. Offer</U>&quot;). The U.S. Offer is being made in conjunction with an offer by Edelcos in Argentina for all outstanding
Class B Shares (the &quot;<U>Argentine Offer</U>,&quot; and together with the U.S. Offer, the &quot;<U>Offers</U>&quot;). The price offered
in the Argentine Offer is the same on a per Class B Share basis as the Offer Price in the U.S. Offer. This Schedule TO is intended solely
for (i) holders of Class B Shares that are U.S. residents (under the meaning of Rule 14d-1(d) under the U.S. Securities Exchange Act
of 1934, as amended) and (ii) holders of Class B Shares represented by American Depositary Shares (each representing rights to 20 Class
B Shares). The information set forth in the U.S. Offer to Purchase is incorporated herein by reference with respect to Items 1 through
11 of this Schedule TO. This Schedule TO is being filed on behalf of the Bidders.</P>

<P STYLE="font: 10pt/103% Times New Roman, Times, Serif; margin: 8.15pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/103% Times New Roman, Times, Serif; margin: 0.05pt 0 0; text-align: justify">Except as otherwise set forth in this
Amendment, the information set forth in the Schedule TO remains unchanged.</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0.05pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 71pt">Item 12.</TD><TD>Exhibits.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0.4pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0.4pt 0 0">Exhibit (a)(1)(v) to Item 12 is hereby replaced with Exhibit
99(a)(1)(v).</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0.4pt 0 0"><B>&nbsp;&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/110% Times New Roman, Times, Serif; margin-top: 4.3pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2.4pt"></TD><TD STYLE="width: 62.6pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1395213/000129281421004391/ex99a1i.htm">(a)(1)(i)</A></TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1395213/000129281421004391/ex99a1i.htm">Offer to Purchase, dated November 12,
2021.*</A></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/110% Times New Roman, Times, Serif; margin-top: 4.3pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2.4pt"></TD><TD STYLE="width: 62.6pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1395213/000129281421004391/ex99a1ii.htm">(a)(1)(ii)</A></TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1395213/000129281421004391/ex99a1ii.htm">U.S. Form of Acceptance Letter.*</A></TD></TR></TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/110% Times New Roman, Times, Serif; margin-top: 4.3pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2.4pt"></TD><TD STYLE="width: 62.6pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1395213/000129281421004391/ex99a1iii.htm">(a)(1)(iiii)</A></TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1395213/000129281421004391/ex99a1iii.htm">U.S. Form of Withdrawal for Shares.*</A></TD></TR></TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/110% Times New Roman, Times, Serif; margin-top: 4.3pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2.4pt"></TD><TD STYLE="width: 62.6pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1395213/000129281421004391/ex99a1iv.htm">(a)(1)(iv)</A></TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1395213/000129281421004391/ex99a1iv.htm">Form of Letter to Broker for American Depositary Shares.*</A></TD></TR></TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/110% Times New Roman, Times, Serif; margin-top: 4.3pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2.4pt"></TD><TD STYLE="width: 62.6pt"><A HREF="ex99-a1v.htm">(a)(1)(v)</A></TD><TD><A HREF="ex99-a1v.htm">Form of Letter to Clients for use by Broker
for American Depositary Shares.</A></TD></TR></TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/110% Times New Roman, Times, Serif; margin-top: 4.3pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2.4pt"></TD><TD STYLE="width: 62.6pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1395213/000129281421003202/ex99-1.htm">(a)(1)(vi)</A></TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1395213/000129281421003202/ex99-1.htm">Notice of Offer to Purchase Shares of Class B Shares Issued by Edelcos, as made public on July 29, 2021 (English translation) (incorporated herein by reference to Exhibit 99.1 of Edelcos&#8217;s pre-commencement communication filing on Schedule TO on July 30, 2021).</A></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/110% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2.4pt"></TD><TD STYLE="width: 62.6pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1395213/000129281421004391/ex99a1vii.htm">(a)(1)(vii)</A></TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1395213/000129281421004391/ex99a1vii.htm">Form of summary advertisement, dated November 12, 2021.*</A></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/110% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2.4pt"></TD><TD STYLE="width: 62.6pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1395213/000129281421004391/ex99a1viii.htm">(a)(1)(viii)</A></TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1395213/000129281421004391/ex99a1viii.htm">Text of Press Release issued by the Bidder on November
12, 2021.*</A></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/110% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5.55pt"></TD><TD STYLE="width: 59.45pt">(b)</TD><TD>Not applicable.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/110% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5.55pt"></TD><TD STYLE="width: 59.45pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1395213/000129281421004391/ex99ci.htm">(c)(i)</A></TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1395213/000129281421004391/ex99ci.htm">Accounting Certification issued by PKF Audisur S.R.L., an independent <FONT STYLE="letter-spacing: 0.6pt">accounting </FONT>firm,
dated July 27, 2021 (English translation).*</A></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25pt 0 0 64.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/110% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5.55pt"></TD><TD STYLE="width: 59.45pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1395213/000129281421004391/ex99cii.htm">(c)(ii)</A></TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1395213/000129281421004391/ex99cii.htm">Valuation Report issued by Buenos Aires Advisors, S.C., an independent firm, dated August 9, 2021 (English translation).*</A></TD></TR></TABLE>


<!-- Field: Page; Sequence: 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></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25pt 0 0 64.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/110% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5.55pt"></TD><TD STYLE="width: 59.45pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1395213/000129281421004391/ex99di.htm">(d)(i)</A></TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1395213/000129281421004391/ex99di.htm">Share Purchase Agreement entered into by and among Empresa de Energ&iacute;a del Cono Sur S.A., as buyer, and Pampa Energ&iacute;a
S.A., as seller, dated December 28, 2020.*</A></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25pt 0 0 64.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.35pt"></TD><TD STYLE="width: 60.05pt"><FONT STYLE="font-size: 9.5pt">(f)</FONT></TD><TD><FONT STYLE="font-size: 10pt">Not Applicable.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.2pt 0 0 64.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.35pt"></TD><TD STYLE="width: 60.05pt"><FONT STYLE="font-size: 9.5pt">(g)</FONT></TD><TD><FONT STYLE="font-size: 10pt">None.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.2pt 0 0 64.4pt">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.35pt"></TD><TD STYLE="width: 60.05pt"><FONT STYLE="font-size: 9.5pt">(h)</FONT></TD><TD><FONT STYLE="font-size: 10pt">None.</FONT></TD></TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.2pt 0 0 64.4pt"></P>

<!-- Field: Rule-Page --><DIV STYLE=" width: 30%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0; font-size: 10pt">None.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0.1pt 0 0 64.4pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0.4pt 0 0 0.25in">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Previously
filed with Schedule TO.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0.4pt 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.3pt 0 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.3pt 0 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/110% Times New Roman, Times, Serif; margin: 0; text-indent: 18.95pt">After due inquiry and to the best of my knowledge
and belief, I certify that the information set forth in this statement is true, complete and correct.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0">Dated: November 16, 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.8pt 0 0 3.15in"></P>
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top; text-align: left">
  <td style="width: 50%">&nbsp;</td>
  <td style="width: 50%">&nbsp;<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 4.8pt; margin-right: 0; margin-bottom: 0"><b>EMPRESA DE ENERG&Iacute;A DEL CONO SUR S.A.</b></p>
</td></tr>
<tr style="vertical-align: top; text-align: left">
  <td>&nbsp;</td>
  <td>&nbsp;</td></tr>
<tr style="vertical-align: top; text-align: left">
  <td>&nbsp;</td>
  <td style="border-bottom: Black 1pt solid">/s/ Ricardo Nicol&aacute;s Mallo Huergo</td></tr>
<tr style="vertical-align: top; text-align: left">
  <td>&nbsp;</td>
  <td><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 4.8pt; margin-right: 0; margin-bottom: 0">Name: Ricardo Nicol&aacute;s Mallo Huergo</p>
</td></tr>
<tr style="vertical-align: top; text-align: left">
  <td>&nbsp;</td>
  <td><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 4.8pt; margin-right: 0; margin-bottom: 0">Title:	Authorized Signatory</p>
</td></tr>
<tr style="vertical-align: top; text-align: left">
  <td>&nbsp;</td>
  <td>&nbsp;</td></tr>
<tr style="vertical-align: top; text-align: left">
  <td>&nbsp;</td>
  <td>&nbsp;<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 4.8pt; margin-right: 0; margin-bottom: 0"><b>SOUTH AMERICAN ENERGY LLP</b></p>
</td></tr>
<tr style="vertical-align: top; text-align: left">
  <td>&nbsp;</td>
  <td>&nbsp;</td></tr>
<tr style="vertical-align: top; text-align: left">
  <td>&nbsp;</td>
  <td style="border-bottom: Black 1pt solid">/s/ Ricardo Nicol&aacute;s Mallo Huergo</td></tr>
<tr style="vertical-align: top; text-align: left">
  <td>&nbsp;</td>
  <td><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 4.8pt; margin-right: 0; margin-bottom: 0">Name: Ricardo Nicol&aacute;s Mallo Huergo</p>
</td></tr>
<tr style="vertical-align: top; text-align: left">
  <td>&nbsp;</td>
  <td><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 4.8pt; margin-right: 0; margin-bottom: 0">Title:	Authorized Signatory</p>
</td></tr>
<tr style="vertical-align: top; text-align: left">
  <td>&nbsp;</td>
  <td>&nbsp;</td></tr>
</table>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.(A)(1)(V)
<SEQUENCE>2
<FILENAME>ex99-a1v.htm
<DESCRIPTION>EX-99.(A)(1)(V)
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>


<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 4.75pt 0 0; text-align: center"><B>U.S. Offer to Purchase for Cash</B></P>

<P STYLE="font: 9.5pt/108% Times New Roman, Times, Serif; margin: 0.9pt 4.45pt 0 0; text-align: center"><B>All Outstanding Class B Shares
(ISIN: ARENOR010020), including Class B Shares represented by American Depositary Shares (CUSIP: 29244A102), held by U.S. Persons </B></P>

<P STYLE="font: 9.5pt/216% Times New Roman, Times, Serif; margin: 0 4.45pt 0 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 9.5pt/216% Times New Roman, Times, Serif; margin: 0 4.45pt 0 0; text-align: center"><B>of</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EMPRESA DISTRIBUIDORA Y COMERCIALIZADORA NORTE S.A.
(EDENOR)</B></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 12.45pt 166.8pt 0 160.95pt; text-align: center"><B>by</B></P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0.05pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EMPRESA DE ENERG&Iacute;A DEL CONO SUR S.A.</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SOUTH AMERICAN ENERGY LLP</B></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 12.55pt 140.8pt 0 134.95pt; text-align: center"><B>Pursuant to the U.S. Offer
to Purchase dated November 12, 2021 </B></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0.4pt 0 0">&nbsp;</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0.4pt 0 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 9.5pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="border: Black 1pt solid; width: 100%"><P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 11.7pt 0 0; text-align: center"><B>&nbsp;</B></P>
                                                   <P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 11.7pt 0 0; text-align: center"><B>THIS U.S. OFFER CAN BE ACCEPTED BY U.S.
HOLDERS OF CLASS B SHARES</B></P>

<P STYLE="font: 9.5pt/108% Times New Roman, Times, Serif; margin: 0.95pt 11.7pt 0 0; text-align: center"><B>BY 5:00 P.M., NEW YORK CITY
TIME, ON DECEMBER 13, UNLESS THE TENDER OFFER IS EXTENDED OR EARLIER TERMINATED.</B></P>
<P STYLE="font: 9.5pt/108% Times New Roman, Times, Serif; margin: 0.95pt 11.7pt 0 0; text-align: center"><B>&nbsp;</B></P>
</TD></TR>
</TABLE>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0.4pt 0 0"></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0.4pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 4.5pt Times New Roman, Times, Serif; margin: 0.5pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 4.7pt 11.75pt 0 0; text-align: right"><B>November 12, 2021</B></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 4.7pt 0 0 5.9pt">To Our Clients:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0.15pt 0 0">&nbsp;</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0.4pt 0 0; text-align: justify">Enclosed is an offer to purchase, dated November
12, 2021, (the &#8220;<B>U.S. Offer to Purchase</B>&#8221;) and the Form of Acceptance, Form of Withdrawal and other related documents
in connection with the tender offer by Empresa de Energ&iacute;a del Cono Sur S.A. (&#8220;<B>Edelcos</B>&#8221; or the &#8220;<B>Bidder</B>&#8221;),
and South American Energy LLP (&#8220;<B>SAE</B>&#8221; and, together with Edelcos, the &#8220;<B>Bidders</B>&#8221;) to purchase any
and all outstanding Class B common shares, par value Ps. 1.00 per share (the &#8220;<B>Class B Shares</B>&#8221;), held by U.S. Persons
(as defined below), including outstanding Class B Shares represented by American Depositary Shares (each representing rights to 20 Class
B Shares) (the &#8220;<B>ADSs</B>&#8221; and, together with the Class B Shares, the &#8220;<B>Securities</B>&#8221;), of Empresa Distribuidora
y Comercializadora Norte S.A. (&#8220;<B>Edenor</B>&#8221;), a corporation (<I>sociedad an&oacute;nima</I>) organized under the laws of
Argentina, other than those held by the Bidders or their affiliates, , in cash at a price of Ps. 29.34 per Class B Share (the &quot;<B>Offer
Price</B>&#8221;), without interest thereon, less (i) the stock exchange and settlement fees described herein, (ii) any applicable brokerage
fees or commissions, (iii) any applicable Distributions, and (iv) any applicable withholding taxes, upon the terms and subject to the
conditions set forth in this U.S. Offer to Purchase and the related documents. The U.S. Offer is being made in conjunction and simultaneously
with an offer by Edelcos in Argentina for all outstanding Class B Shares and Class C common shares, par value Ps. 1.00 per share (the
&#8220;<B>Class C Shares</B>,&#8221; and together with the Class B Shares, the &#8220;<B>Shares</B>&#8221;) of Edenor, which represent
0.2% of Edenor&#8217;s outstanding capital stock and are held in Argentina pursuant to Edenor&#8217;s Employee Stock Participation Program
(the &#8220;<B>Argentine Offer</B>&#8221; and, together with the U.S. Offer, the &#8220;<B>Offers</B>&#8221;).</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0.4pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 0 24.65pt; text-align: justify">All terms not otherwise defined herein
have the meaning set forth in the U.S. Offer to Purchase.</P>

<P STYLE="font: 9.5pt/108% Times New Roman, Times, Serif; margin: 4.2pt 0 0; text-align: justify; text-indent: 19.25pt"><B>The U.S. Offer
is not conditioned on any minimum number of Securities being tendered. However, the U.S. Offer is subject to certain Conditions. See <I>&quot;THE
TENDER OFFER&#8212;Section 13. Conditions of the U.S. Offer</I>&quot; in the U.S. Offer to Purchase.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25pt 0 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 9.5pt/108% Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 19.25pt"><B>We are (or our nominee
is) the holder of record of ADS held by us for your account. ADSs cannot be tendered by means of the enclosed U.S. Form of
Acceptance without the holder first becoming a direct holder of Class B Shares by surrendering their ADSs to the ADR Depositary for cancellation
and taking delivery of the Class B Shares represented thereby into a <I>cuente comitente</I> (client account) in Argentina. The Bidders
will be responsible for paying any cancellation fees charged by the Depositary in connection with ADSs surrendered for cancellation, provided
that the underlying Class B Shares are credited to a Caja de Valores account of the Argentine Receiving Agent. Once your ADSs have been
surrendered to the Depositary for cancellation and you have taken delivery of the Class B Shares you may tender into the U.S. Offer pursuant
to the enclosed Form of Acceptance.</B></P>


<!-- Field: Page; Sequence: 1 -->
    <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></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt/108% Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 9.5pt/108% Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 19.25pt"><B>&nbsp;</B></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0.05pt 0 0; text-align: justify; text-indent: 14.2pt"><B>Instructions for
cancelling your ADSs, withdrawing the underlying Class B Shares and tendering into the U.S. Offer can be obtained from the U.S. Information
Agent at Toll-Free (866) 356-7813 (Toll Free), and banks and brokers at (212) 269-5550. </B>Once you have surrendered your ADS for cancellation,
withdrawn the underlying Class B Shares and taken delivery of the Class B Shares represented thereby into a <I>cuente comitente</I> (client
account) in Argentina, you may use the enclosed Form of Acceptance to directly tender Class B Shares into the U.S. Offer. Please note
the following:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0.1pt 4.45pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/108% Times New Roman, Times, Serif; margin: 0 4.45pt 0 35.55pt; text-align: justify; text-indent: 19.25pt"><FONT STYLE="font-size: 9.5pt">1.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 9.5pt">Any U.S. Person desiring to accept the U.S. Offer in respect of all or any portion of the held Class
B Shares, should complete Boxes 1 and 3 and sign Box 2 of the U.S. Form of Acceptance in accordance with the instructions printed thereon.
An accepting holder of Class B Shares should then submit the U.S. Form of Acceptance to the U.S. Receiving Agent by hand delivery at the
address shown on the back cover of the U.S. Offer to Purchase during normal business hours no later than the Expiration Time on the Expiration
Date. See &quot;<I>THE TENDER OFFER&#8212;Section 3. Procedures for Participating in the U.S. Offer&#8212;Holders of Class B Shares&quot;
</I>in the U.S. Offer to Purchase.</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0.55pt 4.45pt 0 0">&nbsp;</P>

<P STYLE="font: 11pt/108% Times New Roman, Times, Serif; margin: 0 4.45pt 0 35.55pt; text-align: justify; text-indent: 19.25pt"><FONT STYLE="font-size: 9.5pt">2.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 9.5pt">After purchase by Edelcos of the Class B Shares tendered in compliance with the procedure set forth
in the U.S. Offer to Purchase, through the Custodian and receipt by the Argentine Receiving Agent of payment of the consideration for
those Class B Shares, the Argentine Receiving Agent will pay to the applicable holders of Class B Shares the Offer Price, settled in pesos,
in cash, without interest thereon, net of (i) the stock exchange and settlement fees described herein, (ii) any applicable brokerage fees
or commissions, (iii) any applicable Distributions (as defined below), and (iv) any applicable withholding taxes, upon the terms and subject
to the conditions set forth in the U.S. Offer to Purchase. (See &quot;THE TENDER OFFER&#8212;Section 11. Fees and Expenses&quot; and &quot;THE
TENDER OFFER&#8212;Section 6. Certain U.S. Federal Income and Argentine Tax Consequences&quot; in the U.S. Offer to Purchase). Payment
for Class B Shares will be made by deposit of the Offer Price, without interest thereon, net of (i) the stock exchange and settlement
fees described herein, (ii) any applicable brokerage fees or commissions, (iii) any applicable Distributions (as defined below), and (iv)
any applicable withholding taxes, upon the terms and subject to the conditions set forth in the U.S. Offer to Purchase, in pesos with
the Argentine Receiving Agent and subsequent payment to tendering holders through the Argentine Receiving Agent by a check to be mailed
to the address indicated. </FONT></P>

<P STYLE="font: 11pt/108% Times New Roman, Times, Serif; margin: 0 4.45pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9.5pt/108% Times New Roman, Times, Serif; margin: 0 4.45pt 0 0; text-align: justify">The Bidders will not pay any fees
or commissions to any broker, dealer or other person for soliciting tenders of Class B Shares pursuant to the U.S. Offer other than those
fees and commissions described in &quot;THE TENDER OFFER&#8212;Section 11. Fees and Expenses&quot; in the U.S. Offer to Purchase. In addition,
the Bidders will not pay any transfer taxes payable on the transfer of Class B Shares to it. The Bidders will, however, upon request,
reimburse you for customary mailing and handling expenses incurred by you in forwarding any of the enclosed materials to your clients.</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 4.2pt 0 0; text-align: justify">Any inquiries you may have with respect to
the U.S. Offer and requests for copies of the enclosed materials should be addressed to the U.S. Information Agent for the U.S. Offer,
at the addresses and telephone numbers set forth on the back cover page of the U.S. Offer to Purchase.<BR STYLE="clear: both">
</P>


<!-- Field: Page; Sequence: 2 -->
    <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></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 4.75pt 166.8pt 0 158.55pt; text-align: center"><B>Instruction Form</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0.1pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 9.5pt/108% Times New Roman, Times, Serif; margin: 0 15.25pt 0 5.9pt; text-align: justify; text-indent: 19.05pt">The undersigned
acknowledge(s) receipt of your letter and the U.S. Offer to Purchase dated November 12, 2021, and the related Form of Acceptance in connection
with the U.S. Offer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25pt 0 0">&nbsp;</P>

<P STYLE="font: 9.5pt/108% Times New Roman, Times, Serif; margin: 0.05pt 15.25pt 0 5.9pt; text-align: justify; text-indent: 19.05pt">This
will instruct you to tender the number of Class B Shares indicated below (or if no number is indicated below, all Class B Shares) held
by you for the account of the undersigned, upon the terms and subject to the conditions set forth in the U.S. Offer to Purchase and the
related Form of Acceptance.</P>

<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0.05pt 0 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt/108% Times New Roman, Times, Serif; margin-top: 4.75pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 3.15in">Dated:&#9;______________, 2021</TD><TD STYLE="padding-right: 4.45pt">Number of Class B Shares to be tendered*</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="padding-right: 4.45pt">&nbsp;</TD></TR>
                                                                                                                                                                           <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-right: 4.45pt">&nbsp;</TD></TR>
                                                                                                                                                                           <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="padding-right: 4.45pt"><P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin-top: 3pt; margin-bottom: 0">Signature(s)</P>
</TD></TR>
                                                                                                                                                                           <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="padding-right: 4.45pt">&nbsp;</TD></TR>
                                                                                                                                                                           <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-right: 4.45pt">&nbsp;</TD></TR>
                                                                                                                                                                           <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="padding-right: 4.45pt"><P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin-top: 3pt; margin-bottom: 0">Please Print Name(s)</P>
</TD></TR>
                                                                                                                                                                           <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="padding-right: 4.45pt">&nbsp;</TD></TR>
                                                                                                                                                                           <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-right: 4.45pt">&nbsp;</TD></TR>
                                                                                                                                                                           <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="padding-right: 4.45pt"><P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin-top: 3pt; margin-bottom: 0">Address(es)</P>
</TD></TR>
                                                                                                                                                                           <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="padding-right: 4.45pt">&nbsp;</TD></TR>
                                                                                                                                                                           <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-right: 4.45pt">&nbsp;</TD></TR>
                                                                                                                                                                           <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="padding-right: 4.45pt"><P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin-top: 3pt; margin-bottom: 0">Tel. No. (including Country and Area Codes)</P>
</TD></TR>
                                                                                                                                                                           <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="padding-right: 4.45pt">&nbsp;</TD></TR>
                                                                                                                                                                           <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-right: 4.45pt">&nbsp;</TD></TR>
                                                                                                                                                                           <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="padding-right: 4.45pt"><P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin-top: 3pt; margin-bottom: 0">Social Security No.</P>
</TD></TR>
                                                                                                                                                                           <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="padding-right: 4.45pt">&nbsp;</TD></TR>
                                                                                                                                                                           <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="padding-right: 4.45pt">&nbsp;</TD></TR>
                                                                                                                                                                           </TABLE>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0.35pt 0 0">&nbsp;</P>

<P STYLE="font: 1pt/1pt Times New Roman, Times, Serif; margin: 0 0 0 5.9pt">&nbsp;</P>

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

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 4.95pt 0 0 5.9pt">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise
indicated, it will be assumed that all the Class B Shares are to be tendered.</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
