<SEC-DOCUMENT>0001292814-25-002013.txt : 20250512
<SEC-HEADER>0001292814-25-002013.hdr.sgml : 20250512
<ACCEPTANCE-DATETIME>20250512145435
ACCESSION NUMBER:		0001292814-25-002013
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20250331
FILED AS OF DATE:		20250512
DATE AS OF CHANGE:		20250512

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EDENOR
		CENTRAL INDEX KEY:			0001395213
		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:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33422
		FILM NUMBER:		25934283

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>ednfs1q25_6k.htm
<DESCRIPTION>6-K
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
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<P></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face="times new roman"><BR>UNITED STATES</FONT></P>

<P></P>

<P></P>

<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face="times new roman">SECURITIES AND EXCHANGE COMMISSION</FONT></P>

<P></P>

<P></P>

<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT STYLE="font-family: times new roman; font-size: 10pt; color: black; line-height: normal">Washington,
D.C. 20549</FONT></P>

<P></P>

<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT STYLE="font-family: times new roman; font-size: 10pt; color: black; line-height: normal">FORM
6-K</FONT></P>

<P></P>

<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face="times new roman">REPORT OF FOREIGN PRIVATE ISSUER</FONT></P>

<P></P>

<P></P>

<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face="times new roman">PURSUANT TO RULE 13a-16 OR 15d-16 UNDER</FONT></P>

<P></P>

<P></P>

<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT STYLE="font-family: times new roman; font-size: 10pt; color: black; line-height: normal">THE
SECURITIES EXCHANGE ACT OF 1934</FONT></P>

<P></P>

<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT STYLE="font-family: times new roman; font-size: 10pt; color: black; line-height: normal">For
the month of&nbsp;May, 2025</FONT></P>

<P></P>

<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face="times new roman">EMPRESA DISTRIBUIDORA Y COMERCIALIZADORA NORTE S.A. (EDENOR)</FONT></P>

<P></P>

<P></P>

<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT STYLE="font-family: times new roman; font-size: 10pt; color: black; line-height: normal">(DISTRIBUTION
AND MARKETING COMPANY OF THE NORTH )</FONT></P>

<P></P>

<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT STYLE="font-family: times new roman; font-size: 10pt; color: black; line-height: normal">(Translation
of Registrant's Name Into English)</FONT></P>

<P></P>

<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT STYLE="font-family: times new roman; font-size: 10pt; color: black; line-height: normal">Argentina</FONT></P>

<P></P>

<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT STYLE="font-family: times new roman; font-size: 10pt; color: black; line-height: normal">(Jurisdiction
of incorporation or organization)</FONT></P>

<P></P>

<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT STYLE="font-family: times new roman; font-size: 10pt; color: black; line-height: normal">Av.
del Libertador 6363,</FONT></P>

<P></P>

<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT STYLE="font-family: times new roman; font-size: 10pt; color: black; line-height: normal">12th
Floor,</FONT></P>

<P></P>

<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT STYLE="font-family: times new roman; font-size: 10pt; color: black; line-height: normal">City
of Buenos Aires (A1428ARG),</FONT></P>

<P></P>

<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT STYLE="font-family: times new roman; font-size: 10pt; color: black; line-height: normal">Tel:
54-11-4346-5000</FONT></P>

<P></P>

<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT STYLE="font-family: times new roman; font-size: 10pt; color: black; line-height: normal">(Address
of principal executive offices)</FONT></P>

<P></P>

<P style="BACKGROUND: white; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.75in"><FONT STYLE="font-family: times new roman; font-size: 10pt; color: black; line-height: normal">(Indicate
by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)</FONT></P>

<P></P>

<P style="BACKGROUND: white; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.75in"><FONT STYLE="font-family: times new roman; font-size: 10pt; color: black; line-height: normal">Form
20-F&nbsp;<U>&nbsp;X&nbsp;</U>&nbsp;Form 40-F&nbsp;<U>&nbsp;</U></FONT></P>

<P></P>

<P style="BACKGROUND: white; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.75in"><FONT STYLE="font-family: times new roman; font-size: 10pt; color: black; line-height: normal">(Indicate
by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information
to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.)</FONT></P>

<P></P>

<P style="BACKGROUND: white; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.75in"><FONT STYLE="font-family: times new roman; font-size: 10pt; color: black; line-height: normal">Yes&nbsp;<U>&nbsp;</U>&nbsp;&nbsp;No&nbsp;<U>&nbsp;X&nbsp;&nbsp;</U></FONT></P>

<P></P>

<P style="BACKGROUND: white; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.75in"><FONT STYLE="font-family: times new roman; font-size: 10pt; color: black; line-height: normal">(If
"Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-<U>&nbsp;</U>.)&nbsp;</FONT></P>

<P></P>

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<P STYLE="text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;<IMG SRC="image_001.jpg" ALT="" STYLE="height: 111px; width: 253px"><BR STYLE="clear: both">
&#9;</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0"><B>CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0"><B>AS OF MARCH 31, 2025 AND FOR THE THREE-MONTH PERIOD </B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0"><B>ENDED MARCH 31, 2025 </B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0"><B>PRESENTED IN COMPARATIVE FORM</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0">(Stated in millions of constant pesos &ndash; Note 3)</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="width: 90%; text-align: left; text-indent: 7.1pt; padding-top: 12pt; padding-bottom: 6pt; padding-left: 0in">Legal Information</TD>
    <TD STYLE="width: 10%; text-align: right; padding-top: 12pt; padding-bottom: 6pt">4</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; text-indent: 7.1pt; padding-top: 12pt; padding-bottom: 6pt; padding-left: 0in">Condensed Interim Consolidated Statement of Comprehensive Income</TD>
    <TD STYLE="text-align: right; padding-top: 12pt; padding-bottom: 6pt">5</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; text-indent: 7.1pt; padding-top: 12pt; padding-bottom: 6pt; padding-left: 0in">Condensed Interim Consolidated Statement of Financial Position</TD>
    <TD STYLE="text-align: right; padding-top: 12pt; padding-bottom: 6pt">6</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; text-indent: 7.1pt; padding-top: 12pt; padding-bottom: 6pt; padding-left: 0in">Condensed Interim Consolidated Statement of Changes in Equity</TD>
    <TD STYLE="text-align: right; padding-top: 12pt; padding-bottom: 6pt">8</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; text-indent: 7.1pt; padding-top: 12pt; padding-bottom: 6pt; padding-left: 0in">Condensed Interim Consolidated Statement of Cash Flows</TD>
    <TD STYLE="text-align: right; padding-top: 12pt; padding-bottom: 6pt">9</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">Note 1 |General information</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">11</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">Note 2 |Regulatory framework</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">13</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">Note 3 |Basis of preparation</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">15</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">Note 4 |Accounting policies</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">16</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">Note 5 |Financial risk management</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">17</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">Note 6 |Critical accounting estimates and judgments</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">19</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">Note 7 |Contingencies and lawsuits</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">19</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">Note 8 |Revenue from sales and energy purchases</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">20</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">Note 9 |Expenses by nature</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">22</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">Note 10 |Other operating income (expense), net</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">23</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">Note 11 |Net finance costs</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">23</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">Note 12 |Basic and diluted earnings per share</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">24</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">Note 13 |Property, plant and equipment</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">25</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">Note 14 |Right-of-use assets</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">27</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">Note 15 |Inventories</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">27</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">Note 16 |Other receivables</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">27</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">Note 17 |Trade receivables</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">28</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">Note 18 |Financial assets at amortized cost</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">28</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">Note 19 |Financial assets at fair value through profit or loss</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">28</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">Note 20 |Cash and cash equivalents</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">29</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">Note 21 |Share capital and additional paid-in capital</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">29</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">Note 22 |Allocation of profits</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">29</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">Note 23 |Trade payables</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">30</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">Note 24 |Other payables</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">30</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">Note 25 |Borrowings</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">31</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">Note 26 |Deferred revenue</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">32</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">Note 27 |Salaries and social security taxes payable</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">33</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">Note 28 |Income tax and deferred tax</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">33</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">Note 29 |Tax liabilities</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">34</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">Note 30 |Provisions</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">34</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">Note 31 |Related-party transactions</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">35</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">Note 32 |Shareholders&rsquo; Meeting</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">35</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 9pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">Note 33 |Events after the reporting period</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">36</TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B></B></P>


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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: center; width: 100%"><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>CONDENSED INTERIM CONSOLIDATED</B></FONT></P><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>FINANCIAL STATEMENTS</B></FONT></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Glossary of Terms</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">The following definitions, which
are not technical ones, will help readers understand some of the terms used in the text of the notes to the Company&rsquo;s Condensed
Interim Consolidated Financial Statements.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt; text-indent: -7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I><U>Terms</U></I></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I><U>Definitions</U></I></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt; text-align: justify; text-indent: -7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">BCRA</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Central Bank of Argentina</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt; text-align: justify; text-indent: -7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">BNA</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Banco de la Naci&oacute;n Argentina</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt; text-align: justify; text-indent: -7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">CABA</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">City of Buenos Aires</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt; text-align: justify; text-indent: -7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">CAMMESA</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt">Compa&ntilde;&iacute;a Administradora del Mercado Mayorista El&eacute;ctrico
    S.A.</P>
    <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt">(the company in charge of the regulation and operation of the wholesale
    electricity market)</P></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt; text-align: justify; text-indent: -7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">CNV</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">National Securities Commission</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt; text-align: justify; text-indent: -7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">CPD</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Distribution Own Cost</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt; text-align: justify; text-indent: -7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>edenor</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Empresa Distribuidora y Comercializadora Norte S.A.</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt; text-align: justify; text-indent: -7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">ENRE</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">National Regulatory Authority for the Distribution of Electricity</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt; text-align: justify; text-indent: -7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">FACPCE</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Argentine Federation of Professional Councils in Economic Sciences</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt; text-align: justify; text-indent: -7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">GWh</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Gigawatt hour</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt; text-align: justify; text-indent: -7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">IAS</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">International Accounting Standards</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt; text-align: justify; text-indent: -7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">IASB</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">International Accounting Standards Board</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt; text-align: justify; text-indent: -7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">IFRIC</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">International Financial Reporting Interpretations Committee</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt; text-align: justify; text-indent: -7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">IFRS</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">International Financial Reporting Standards</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt; text-align: justify; text-indent: -7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">IGJ</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Inspecci&oacute;n General de Justicia </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(the Argentine governmental regulatory agency of corporations)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt; text-align: justify; text-indent: -7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">IMF</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">International Monetary Fund</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt; text-align: justify; text-indent: -7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">INDEC</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">National Institute of Statistics and Census</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt; text-align: justify; text-indent: -7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">KWh</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Kilowatt hour</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 7.1pt; text-align: justify; text-indent: -7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">MEM</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Wholesale Electricity Market</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 7.1pt; text-align: justify; text-indent: -7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">MLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Free Foreign Exchange Market</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 7.1pt; text-align: justify; text-indent: -7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">MWh</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Megawatt hour</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 7.1pt; text-align: justify; text-indent: -7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">PBA</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Province of Buenos Aires</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 7.1pt; text-align: justify; text-indent: -7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">PEN</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Federal Executive Power</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 7.1pt; text-align: justify; text-indent: -7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">RECPAM</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Gain (Loss) on exposure to the changes in the purchasing power of the currency</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 7.1pt; text-align: justify; text-indent: -7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">RT</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Electricity Rate Review</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 7.1pt; text-align: justify; text-indent: -7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SACME</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">S.A. Centro de Movimiento de Energ&iacute;a</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 7.1pt; text-align: justify; text-indent: -7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SE</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Energy Secretariat</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 7.1pt; text-align: justify; text-indent: -7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">VAD</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Distribution Added Value</FONT></TD></TR>
  <TR>
    <TD STYLE="width: 13%">&nbsp;</TD>
    <TD STYLE="width: 87%">&nbsp;</TD>
    </TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>


<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence -->&nbsp;</FONT></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%"><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>CONDENSED INTERIM CONSOLIDATED</B></FONT></P><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>FINANCIAL STATEMENTS</B></FONT></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Legal Information</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 12pt 0 10pt; text-align: justify"><B>Corporate name:</B> Empresa Distribuidora
y Comercializadora Norte S.A.</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 12pt 0 10pt; text-align: justify"><B>Legal address: </B>6363 Av. Del Libertador
Ave., City of Buenos Aires</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify"><B>Main business: </B>Distribution and
sale of electricity in the area and under the terms of the Concession Agreement by which this public service is regulated</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>Date of registration
with the Public Registry of Commerce</B></FONT><B>: </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: 14.2pt"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">of the Articles of Incorporation: August 3, 1992</FONT></TD></TR></TABLE>

<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: 14.2pt"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">of the last amendment to the Bylaws: July 24,
2024 </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 20.25pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>Term of the Corporation</B></FONT><B>:
</B>August 3, 2087</P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>Registration number
with the &ldquo;Inspecci&oacute;n General de Justicia&rdquo; (the Argentine governmental regulatory agency of corporations)</B></FONT><B>:
</B>1,559,940</P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Parent company: </B>Empresa de Energ&iacute;a del
Cono Sur S.A.</P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Legal address: </B>1252 Maip&uacute; St., 12<SUP>th</SUP>
Floor - CABA</P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Main business of the parent company: </B>Investment
company and provider of services related to the distribution of electricity, renewable energies and development of sustainable technology</P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Interest held by the parent company in capital stock
and votes: </B>51%</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>CAPITAL STRUCTURE</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>AS OF MARCH 31, 2025</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">(amounts stated in pesos)</P>

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

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 73%">Class of shares</TD>
    <TD STYLE="vertical-align: top; text-align: justify; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 26%">&nbsp;Subscribed and paid-in<BR>
(See Note 21)&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Common, book-entry shares, face value 1 and 1 vote per share</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Class A</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;&nbsp;462,292,111</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Class B (1)</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;&nbsp;442,566,330</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Class C (2)</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;&nbsp;1,596,659</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">&nbsp;&nbsp;906,455,100</TD></TR>
  </TABLE>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Includes 30,772,779 treasury shares
as of March 31, 2025.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Relates to the Employee Stock
Ownership Program Class C shares (Note 21).</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 425.25pt">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 425.25pt"></P>


<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence -->&nbsp;</FONT></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%"><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>CONDENSED INTERIM CONSOLIDATED</B></FONT></P><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>FINANCIAL STATEMENTS</B></FONT></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>edenor</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Condensed Interim Consolidated Statement of Comprehensive
Income</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 2.85pt 0 0; text-align: center"><B>for the three-month period ended
March 31, 2025</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 2.85pt 0 0; text-align: center"><B>presented in comparative form</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">(Stated in millions of constant pesos &ndash; Note 3)</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 2.85pt 0 35.45pt; text-align: center">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: left; width: 54%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 12%">Note</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 16%">03.31.25</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 16%"><P STYLE="margin-top: 0; margin-bottom: 0">03.31.24</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">Restated (1)</P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Revenue</TD>
    <TD STYLE="font-weight: bold; text-align: center">8</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;638,535</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;430,613</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Energy purchases</TD>
    <TD STYLE="font-weight: bold; text-align: center">8</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">(380,182)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(250,142)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">Distribution margin</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">258,353</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">180,471</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Transmission and distribution expenses</TD>
    <TD STYLE="font-weight: bold; text-align: center">9</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">(126,959)</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(114,879)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white">Gross profit</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">131,394</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">65,592</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Selling expenses</TD>
    <TD STYLE="font-weight: bold; text-align: center">9</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;(51,437)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;(64,205)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Administrative expenses</TD>
    <TD STYLE="font-weight: bold; text-align: center">9</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;(55,602)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;(39,926)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Other operating income</TD>
    <TD STYLE="font-weight: bold; text-align: center">10</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">8,392</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">8,472</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Other operating expense</TD>
    <TD STYLE="font-weight: bold; text-align: center">10</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;(9,662)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;(4,557)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">Operating result</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;23,085</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;&nbsp;(34,624)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Financial income</TD>
    <TD STYLE="font-weight: bold; text-align: center">11</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;87</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">179</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Financial costs</TD>
    <TD STYLE="font-weight: bold; text-align: center">11</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;(59,314)</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(177,119)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Other financial results</TD>
    <TD STYLE="font-weight: bold; text-align: center">11</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;(9,114)</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(156,829)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">Net financial costs</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;&nbsp;(68,341)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(333,769)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Monetary gain (RECPAM)</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;81,204</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;345,378</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white">Income (loss) before taxes</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;35,948</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;&nbsp;(23,015)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Income tax&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">28</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;(37)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;136,557</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">Income for the period</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;35,911</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;113,542</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 9px; font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: left">Comprehensive income for the period attributable to:</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Owners of the parent&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;35,911</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;113,542</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">Comprehensive income for the period</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;35,911</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;113,542</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">Basic and diluted income per share:</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Income per share (argentine pesos per share)</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">12</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">41.04</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;129.76</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 2.85pt 0 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 2.85pt 0 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 2.85pt 0 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 7pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(1)</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">See Note 1: Retroactive restatement of the previously issued financial statements
&ndash; Deferred tax liability generated by the Property, plant and equipment account.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">The accompanying notes are an integral part of the Condensed
Interim Consolidated Financial Statements.</P>


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<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>edenor</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Condensed Interim Consolidated Statement of Financial
Position</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 2.85pt 0 0; text-align: center"><B>as of March 31, 2025 presented in
comparative form</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">(Stated in millions of constant pesos &ndash; Note 3)</P>

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

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: bottom; background-color: white; width: 55%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 7%">Note</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: top; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; font-family: Arial, sans-serif; vertical-align: middle; text-align: center; width: 18%">&nbsp;03.31.25&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: top; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; font-family: Arial, sans-serif; vertical-align: top; text-align: center; width: 18%">&nbsp;12.31.24&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; background-color: white">ASSETS</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: justify; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: justify; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: left; background-color: white">Non-current assets&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Property, plant and equipment</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">13</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">3,298,912</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;3,259,911</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Interest in joint ventures</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;132</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">132</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Right-of-use asset</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">14</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;9,535</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">11,347</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Other receivables</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">16</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;526</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">133</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; background-color: white">Total non-current assets</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">3,309,105</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;3,271,523</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: left; background-color: white">Current assets</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Inventories</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center; background-color: white">15</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;172,364</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">162,606</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Other receivables</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">16</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;41,420</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">61,512</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Trade receivables</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">17</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;447,106</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">393,419</TD></TR>
  <TR>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; background-color: white">Financial assets at amortized cost</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: middle; text-align: center">18</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;426</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">11,073</TD></TR>
  <TR>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; background-color: white">Financial assets at fair value through profit or loss</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: middle; text-align: center">19</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;361,429</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">394,487</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Cash and cash equivalents</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">20</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;10,548</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; border-bottom: Black 0.5pt solid; text-align: right">25,969</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; background-color: white">Total current assets</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; border-bottom: Black 0.5pt solid; text-align: right">1,033,293</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;1,049,066</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: left; background-color: white">TOTAL ASSETS</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">4,342,398</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">&nbsp;4,320,589</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</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">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence -->&nbsp;</FONT></TD></TR></TABLE></DIV>
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    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt"><B>&nbsp;</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>edenor</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 2.85pt 0 0; text-align: center"><B>Condensed Interim Consolidated Statement
of Financial Position </B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 2.85pt 0 0; text-align: center"><B>as of March 31, 2025 presented in
comparative form</B> <I>(continued)</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">(Stated in millions of constant pesos &ndash; Note 3)</P>

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

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: bottom; background-color: white; width: 55%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 7%">Note</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: top; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; font-family: Arial, sans-serif; vertical-align: middle; text-align: center; width: 18%">&nbsp;03.31.25&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: top; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; font-family: Arial, sans-serif; vertical-align: top; text-align: center; width: 18%">&nbsp;12.31.24&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; background-color: white">EQUITY</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; background-color: white">Share capital and reserve attributable to the owners of the Company&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Share capital</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">21</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;875</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">875</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Adjustment to share capital</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">21</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;806,132</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">806,132</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Treasury stock</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">21</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;31</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">31</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Adjustment to treasury stock</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">21</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;17,239</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">17,239</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Additional paid-in capital</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">21</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;11,213</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">11,213</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Cost treasury stock</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">(66,064)</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;(66,064)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Legal reserve</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;55,846</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">55,846</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Voluntary reserve</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;540,810</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">540,810</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; text-align: left; background-color: white">Other comprehensive loss</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">(5,733)</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;(5,733)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Accumulated profits</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;311,771</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">275,860</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; background-color: white">TOTAL EQUITY</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">1,672,120</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;1,636,209</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; background-color: white">LIABILITIES</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: left; background-color: white">Non-current liabilities</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Trade payables</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">23</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;3,288</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">3,061</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Other payables</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">24</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;189,506</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">203,751</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Borrowings</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">25</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;370,944</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">385,360</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Deferred revenue</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center; background-color: white">26</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;116,054</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">117,396</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Salaries and social security payable</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center; background-color: white">27</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;7,197</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">6,759</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Benefit plans</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;15,379</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">14,818</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Deferred tax liability</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center; background-color: white">28</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;730,076</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">746,727</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Income tax payable</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center; background-color: white">28</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;828</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;-</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Provisions</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center; background-color: white">30</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;25,309</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; border-bottom: Black 0.5pt solid; text-align: right">23,345</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: left; background-color: white">Total non-current liabilities</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; border-bottom: Black 0.5pt solid; text-align: right">1,458,581</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;1,501,217</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: left; background-color: white">Current liabilities</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Trade payables</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">23</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;912,732</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">823,791</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Other payables</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">24</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;112,050</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">122,299</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Borrowings</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">25</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;74,622</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">122,173</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Deferred revenue</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">26</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;592</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">113</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Salaries and social security payable</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">27</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;46,981</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">67,215</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Benefit plans</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;1,441</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">1,563</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Tax liabilities</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">29</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;53,799</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">37,223</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">Provisions</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">30</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;9,480</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; border-bottom: Black 0.5pt solid; text-align: right">8,786</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: left; background-color: white">Total current liabilities</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; border-bottom: Black 0.5pt solid; text-align: right">1,211,697</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;1,183,163</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; background-color: white">TOTAL LIABILITIES</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; border-bottom: Black 2pt double; text-align: right">2,670,278</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; border-bottom: Black 2pt double; text-align: right">&nbsp;2,684,380</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; background-color: white">TOTAL LIABILITIES AND EQUITY</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; border-bottom: Black 2pt double; text-align: right">4,342,398</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; border-bottom: Black 2pt double; text-align: right">&nbsp;4,320,589</TD></TR>
  </TABLE>



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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">The accompanying notes are an integral part of the
Condensed Interim Consolidated Financial Statements.&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>edenor</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Condensed Interim Consolidated Statement of Changes
in Equity</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 2.85pt 0 0; text-align: center"><B>for the three-month period ended
March 31, 2025 </B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 2.85pt 0 0; text-align: center"><B>presented in comparative form</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 2.85pt 0 0; text-align: center">(Stated in millions of constant pesos &ndash;
Note 3)</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 2.85pt 0 0; text-align: center">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; width: 29%"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center; width: 5%"><FONT STYLE="font-size: 5pt">Share
    capital</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; width: 1%"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center; width: 5%"><FONT STYLE="font-size: 5pt">Adjust-
    ment to share capital</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; width: 1%"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center; width: 5%"><FONT STYLE="font-size: 5pt">Treasury
    stock</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; width: 1%"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center; width: 5%"><FONT STYLE="font-size: 5pt">Adjust-
    ment to treasury stock</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; width: 1%"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center; width: 5%"><FONT STYLE="font-size: 5pt">Additional
    paid-in capital</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; width: 1%"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center; width: 5%"><FONT STYLE="font-size: 5pt">Cost
    treasury stock</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; width: 1%"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center; width: 5%"><FONT STYLE="font-size: 5pt">Legal
    reserve</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; width: 1%"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center; width: 5%"><FONT STYLE="font-size: 5pt">Voluntary
    reserve</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; width: 1%"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center; width: 5%"><FONT STYLE="font-size: 5pt">Other
    reserve</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; width: 1%"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center; width: 5%"><FONT STYLE="font-size: 5pt">&nbsp;Other
    comprehen- sive results&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; width: 1%"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center; width: 5%"><FONT STYLE="font-size: 5pt">Accumula-
    ted (losses) profits</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; width: 1%"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%"><FONT STYLE="font-size: 5pt">Total&nbsp;equity</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white"><FONT STYLE="font-size: 5pt">Balance at December 31, 2023 restated</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">875</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">806,087</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">31</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">17,284</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">11,148</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">(66,064)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">55,846</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">540,810</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">(8,201)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">(19,587)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">1,338,229</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 5pt">Income for the three-month period restated</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">113,542</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">113,542</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white"><FONT STYLE="font-size: 5pt">Balance at March 31, 2024</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 5pt">875</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 5pt">806,087</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 5pt">31</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 5pt">17,284</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 5pt">11,148</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 5pt">(66,064)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 5pt">55,846</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 5pt">540,810</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 5pt">(8,201)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 5pt">93,955</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 5pt">1,451,771</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left"><FONT STYLE="font-size: 5pt">Other Reserve Constitution - Share-based compensation
    plan</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">65</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">65</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 5pt">Payment of Other Reserve Constitution - Share-based
    compensation plan</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">45</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">(45)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">65</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">(65)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 5pt">Other comprehensive results</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">2,468</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">2,468</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 5pt">Gain for the nine-month complementary period</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right"><FONT STYLE="font-size: 5pt">181,905</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 5pt">181,905</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white"><FONT STYLE="font-size: 5pt">Balance at December 31, 2024</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">875</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">806,132</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">31</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">17,239</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">11,213</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">(66,064)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">55,846</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">540,810</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">(5,733)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">275,860</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">1,636,209</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 5pt">Income for the three-month period</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">35,911</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">35,911</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white"><FONT STYLE="font-size: 5pt">Balance at March 31, 2025</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">875</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">806,132</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">31</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">17,239</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">11,213</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">(66,064)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">55,846</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">540,810</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">-</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">(5,733)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">311,771</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 5pt">1,672,120</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 2.85pt 0 35.45pt; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 2.85pt 0 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 2.85pt 0 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 113.4pt; text-align: center; text-indent: -77.95pt">The accompanying
notes are an integral part of the Condensed Interim Consolidated Financial Statements.</P>


<!-- Field: Page; Sequence: 9 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence -->&nbsp;</FONT></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%"><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>CONDENSED INTERIM CONSOLIDATED</B></FONT></P><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>FINANCIAL STATEMENTS</B></FONT></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>edenor</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 2.85pt 0 0; text-align: center"><B>Condensed Interim Consolidated Statement
of Cash Flows</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 2.85pt 0 0; text-align: center"><B>for the three-month period ended
March 31, 2025 </B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 2.85pt 0 0; text-align: center"><B>presented in comparative form</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 2.85pt 0 0; text-align: center">(Stated in millions of constant pesos &ndash;
Note 3)</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 2.85pt 0 0; text-align: center">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 54%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 12%">Note</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 16%">03.31.25</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 16%"><P STYLE="margin-top: 0; margin-bottom: 0">03.31.24</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">Restated (1)</P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">Cash flows from operating activities</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Income for the period</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;35,911</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;113,542</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">Adjustments to reconcile net (loss) income to net cash flows from operating activities:</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Depreciation of property, plant and equipment</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">13</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;38,346</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;38,948</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Depreciation of right-of-use assets</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">14</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,812</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2,530</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Loss on disposals of property, plant and equipment</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">13</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2,051</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;368</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Net accrued interest</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">11</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;59,344</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;176,391</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Income from customer surcharges</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">10</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;(5,452)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;(6,587)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Exchange difference</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">11</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2,922</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3,796</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Income tax</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">28</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;37</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(136,557)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Allowance for the impairment of trade and other receivables</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">9</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">6,324</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;688</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Adjustment to present value of receivables</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">11</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,111</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,808</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Provision for contingencies</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">30</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">5,973</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3,026</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Changes in fair value of financial assets and financial liabilities</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">11</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;(9,019)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;143,136</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Accrual of benefit plans</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">9</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,733</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">5,985</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Loss on integration in kind of Corporate Notes</TD>
    <TD STYLE="font-weight: bold; text-align: center">11</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,521</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Income from non-reimbursable customer contributions</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">10</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(207)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;(93)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Other financial costs</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">11</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;14,100</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">6,568</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Monetary gain (RECPAM)</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;(81,204)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(345,378)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">Changes in operating assets and liabilities:&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Increase in trade receivables&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;(85,129)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(203,910)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Decrease (Increase) in other receivables&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;15,341</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;(27,662)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Increase in inventories</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;(9,350)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;(17,460)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">(Decrease) Increase in deferred revenue</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;(81)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;240</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Increase in trade payables</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;91,130</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;237,420</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">(Decrease) Increase in salaries and social security payable</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;(13,955)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">2,398</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Decrease in benefit plans</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;(2)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(458)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Increase in tax liabilities</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">2,372</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">4,937</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Increase in other payables</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">1,115</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;39,429</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Decrease in provisions</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">30</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(758)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(951)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">Net cash flows generated by operating activities</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;74,465</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;43,675</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 2.85pt 0 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 2.85pt 0 0; text-align: center">&nbsp;</P>


<!-- Field: Page; Sequence: 10 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence -->&nbsp;</FONT></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%"><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>CONDENSED INTERIM CONSOLIDATED</B></FONT></P><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>FINANCIAL STATEMENTS</B></FONT></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>edenor</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 2.85pt 0 0; text-align: center"><B>Condensed Interim Consolidated Statement
of Cash Flows</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 2.85pt 0 0; text-align: center"><B>for the three-month period ended
March 31, 2025 </B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 2.85pt 0 0; text-align: center"><B>presented in comparative form</B>
<I>(continued)</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">(Stated in millions of constant pesos &ndash; Note 3)</P>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 54%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 12%">Note</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 16%">03.31.25</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 16%"><P STYLE="margin-top: 0; margin-bottom: 0">03.31.24</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">Restated (1)</P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">Cash flows from investing activities</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Payment of property, plants and equipments&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;(63,235)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;(66,589)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: left">Sale (Purchase) net of Mutual funds and negotiable instruments</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;31,688</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;(74,488)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">Net cash flows used in investing activities</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;(31,547)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(141,077)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">Cash flows from financing activities</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Proceeds from borrowings</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;18,391</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;124,108</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Payment of borrowings</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;(24,398)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Payment of lease liability</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;(2,614)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;(3,758)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Payment of interests from borrowings</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;(8,835)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;(2,192)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Payment of Corporate Notes issuance expenses</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(264)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;(3,643)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">Net cash flows generated by financing activities</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;(17,720)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;114,515</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">Increase in cash and cash equivalents</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">25,198</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">17,113</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Cash and cash equivalents at the beginning of the year</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">20</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;(34,254)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;21,581</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Exchange difference in cash and cash equivalents</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">1,067</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;848</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Result from exposure to inflation</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">(573)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(237)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Increase in cash and cash equivalents</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;25,198</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;17,113</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">Cash and cash equivalents at the end of the period</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">20</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(8,562)</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">39,305</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle">Supplemental cash flows information</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Non-cash activities</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Adquisition of advances to suppliers, property, plant and equipment through increased trade payables</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;(16,163)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;(9,958)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Adquisition of advances to suppliers, right-of-use assets through increased trade payables</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;-</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;(3,906)</TD></TR>
  </TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 7pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(1)</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">See Note 1: Retroactive restatement of the previously issued financial statements
&ndash; Deferred tax liability generated by the Property, plant and equipment account</FONT></TD></TR></TABLE>

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

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">The accompanying notes are an integral part of the Condensed
Interim Consolidated Financial Statements</P>

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


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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: center; width: 100%"><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>CONDENSED INTERIM CONSOLIDATED</B></FONT></P><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>FINANCIAL STATEMENTS </B></FONT></P><P STYLE="text-align: right; margin: 0; font: 9pt/115% Verdana, Helvetica, Sans-Serif; color: #A6A6A6"><FONT STYLE="letter-spacing: 2pt">NOTES</FONT></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; color: #0070C0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Note</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>1
                                            |</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt"></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">General
                                            information</FONT></B></TD></TR></TABLE>




<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 49.6pt; text-align: justify"></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">Empresa Distribuidora y Comercializadora
Norte S.A. (hereinafter &ldquo;<B>edenor</B>&rdquo; or &ldquo;the Company&rdquo;) is a corporation (<I>sociedad an&oacute;nima</I>) organized
under the laws of the Argentine Republic, with legal address at 6363 Av. Del Libertador Ave - City of Buenos Aires, Argentina, whose shares
are listed on Bolsas y Mercados Argentinos S.A. (ByMA) (Argentine Stock Exchange and Securities Market), traded on Mercado Abierto Electr&oacute;nico
S.A. (MAE) (electronic securities and foreign currency trading market), and the New York Stock Exchange (NYSE).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The corporate purpose of <B>edenor</B>
is to engage in the distribution and sale of electricity within its concession area. Furthermore, it may provide and sale telecommunication
services, as well as assign the use of its facilities for that purpose, subscribe or acquire shares of other distribution companies and
invest in companies related to the generation, distribution and sale of energy, whether conventional or renewable, as well as in digitization,
artificial intelligence and critical minerals-related projects. In addition, the Company may provide advisory, training, maintenance,
consulting, and management services, act as trust agent and serve as trustee in credit transactions related to the generation, distribution
and sale of electricity. These transactions may be conducted directly by <B>edenor</B> or through subsidiaries or related companies, both
domestically and internationally.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt"><B>The Company&rsquo;s economic
and financial situation</B>&#9;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">After the first three months
of 2025, the trend towards improvement of the Company&rsquo;s economic performance that had begun in 2024 continues, driven mainly by
the recent electricity rate increases. In this context, the Company is currently analyzing the impact of the 2025-2030 Electricity Rate
Review (Note 2.a).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">During the first months of the
current year, the periodic monthly adjustments of the CPD have continued, with increases of 4%, on average.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">On March 10, 2025, by means of
Executive Order No. 179/2025 of the PEN, a new financing program with the International Monetary Fund was approved, earmarked for the
following: (i) repaying debt with the BCRA; (ii) settling maturities and paying public credit obligations of the 2022 program; (iii) strengthening
international reserves; (iv) maintaining a zero fiscal deficit; (v) ensuring that the funds from the new program are used to pay debts
rather than for fiscal expenditures; (vi) reducing inflation and stabilizing the economy; (vii) lifting foreign currency restrictions
and making progress with the foreign currency market flexibilization; and (viii) regaining international market access, improving the
country&rsquo;s credit rating and facilitating its return to the global financial system. The Executive Order was approved by the Chamber
of Representatives on March 20, 2025.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">In this regard, on April 11, 2025,
the IMF approved a 48-month USD 20 billion arrangement with quarterly reviews of targets and a repayment term of 10 years. Of the total
amount approved, USD 15 billion relates to unrestricted disbursements in 2025.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">Consequently, the BCRA provided
for the ending of the so-called &ldquo;cepo&rdquo; foreign exchange controls and the implementation of a floating exchange rate system
within bands as from April 14, 2025:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The cepo currency controls that
restricted the purchase of dollars in the MLC to USD 200 per month since October 2019, are lifted.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">A floating exchange rate band
system, with the band ranging between ARS/USD 1,000 and ARS/USD 1,400, is adopted. The exchange rate will float freely based on supply
and demand within the bands and the bands&rsquo; limits will be gradually widened -1% and +1% per month, respectively.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The BCRA will buy or sell dollars
when the exchange rate at the MLC operates outside the bands. This, which is largely possible thanks to the IMF&rsquo;s contribution of
liquid funds mentioned in the preceding paragraph, would facilitate a transition without disruptions in the ongoing disinflation process.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">All restrictions on access to
the MLC related to government assistance received during the pandemic, subsidies, the public-sector employment and others are eliminated.</FONT></TD></TR></TABLE>



<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 53.4pt; text-align: justify; text-indent: -0.25in"></P>


<!-- Field: Page; Sequence: 12 -->
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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: center; width: 100%"><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>CONDENSED INTERIM CONSOLIDATED</B></FONT></P><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>FINANCIAL STATEMENTS </B></FONT></P><P STYLE="text-align: right; margin: 0; font: 9pt/115% Verdana, Helvetica, Sans-Serif; color: #A6A6A6"><FONT STYLE="letter-spacing: 2pt">NOTES</FONT></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 53.4pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 53.4pt; text-align: justify; text-indent: -0.25in"></P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Imports of (a) goods and services
may be paid through the MLC from the date of customs entry registration and from the date the service is rendered, respectively (previously,
there was a 30-day waiting period); (b) capital goods may be paid through the MLC as follows: an advance payment of 30%, 50% from the
date of shipment at the port of origin, and 20% from the date of customs entry registration; (c) services between related companies may
be paid through the MLC after 90 days from the date the service is rendered (previously the timeframe was 180 days).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Access to the MLC is authorized
for the purpose of paying dividends to non-resident shareholders in respect of realized earnings recognized in financial statements for
fiscal years beginning on or after January 1, 2025.</FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 53.4pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">Additionally, the BCRA and the
Central Bank of China (PBOC) have agreed on a new 12-month extension of the currency swap bilateral agreement, equivalent to USD 5 billion.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">In this framework, the BCRA provides
for a monetary system aimed at a tighter monitoring of the money supply, based on the non-financing of the fiscal policy by the BCRA,
and of zero monetary issuance for the remuneration of the BCRA&rsquo;s remunerated liabilities. It is expected that the aforementioned
measures, as a whole, will boost activity and investment, the recovery of domestic savings and credit to the private sector, increasing
monetary predictability, exchange rate flexibility and unrestricted reserves that support the new economic program.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">Finally, by means of the 2025
General Budget approved by Executive Order No. 186/2025, a new Special System for the Regularization of Payment Obligations with CAMMESA
and/or with the MEM is implemented for the debts accumulated by electricity distribution companies as of November 30, 2024 (Note 2.b).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">The Company&rsquo;s Management
permanently monitors the development of the variables that affect the Company&rsquo;s business, in order to define its course of action
and identify the potential impacts on its financial and cash position. Within the described context, despite the fact that in the last
few fiscal years the Company recorded negative working capital, as a consequence of the insufficient adjustments of the electricity rate
over the last few years, the Company continues making the investments necessary, both for the efficient operation of the network and for
maintaining and even improving the quality of the service</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt"><B>Retroactive restatement of
the previously issued financial statements &ndash; Deferred tax liability generated by the Property, plant and equipment account</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">As a result of that which was
mentioned in the Consolidated Financial Statements as of December 31, 2024, the Company retroactively restated the impacted balances of
its previously issued financial statements, correcting the error detected in the deferred tax calculation relating to the Property, plant
and equipment account that generated an overstatement of the deferred tax liability, with the impacts on the condensed interim consolidated
financial statements as of March 31, 2024 being as follow:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt"><B>Statement of Comprehensive
Income (abstract)</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt"><B></B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 46%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 10%"><P STYLE="margin-top: 0; margin-bottom: 0">03.31.24</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">As previously reported</P></TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 10%">RECPAM (Inflationary effect)</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 10%">03.31.24</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 10%">Error correction</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 10%">03.31.24 Restated</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">Loss before taxes</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">(14,760)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;&nbsp;(8,255)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;&nbsp;(23,015)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;&nbsp;(23,015)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Income tax&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">&nbsp;&nbsp;65,627</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">&nbsp;&nbsp;36,705</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">&nbsp;&nbsp;102,332</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">&nbsp;34,225</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">&nbsp;&nbsp;136,557</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">Income of the period</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">&nbsp;&nbsp;50,867</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">&nbsp;&nbsp;28,450</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">&nbsp;79,317</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">&nbsp;34,225</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">&nbsp;&nbsp;113,542</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">Basic and diluted income per share:</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Basic and diluted income per share:</TD>
    <TD STYLE="text-align: right">58.13</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;32.51</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;90.64</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;39.12</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;129.76</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">Profit and loss items of the
&ldquo;Adjustment&rdquo; column are also included in both the Statement of Changes in Equity and the Statement of Cash Flows at the end
of the period.</P>



<!-- Field: Page; Sequence: 13 -->
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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: center; width: 100%"><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>CONDENSED INTERIM CONSOLIDATED</B></FONT></P><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>FINANCIAL STATEMENTS </B></FONT></P><P STYLE="text-align: right; margin: 0; font: 9pt/115% Verdana, Helvetica, Sans-Serif; color: #A6A6A6"><FONT STYLE="letter-spacing: 2pt">NOTES</FONT></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; color: #0070C0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Note</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>2
                                            |</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;
                                            </FONT><FONT STYLE="color: Black; font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Regulatory
                                            framework</FONT></B></TD></TR></TABLE>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">At the date of issuance of these
condensed interim consolidated financial statements, there exist the following changes with respect to the situation reported by the Company
in the Consolidated Financial Statements as of December 31, 2024:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>a)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Electricity rate situation
</B></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">On March 7, 2025, by means of
Resolution No. 160/2025, the ENRE approved the values of the Company&rsquo;s electricity rate schedule, effective from the billing relating
to the reading of meters subsequent to 12:00 AM on March 1, 2025, for Levels 1, 2 and 3, as well as for neighborhood and town clubs (CdByP)
and public welfare entities, feed-in tariffs for User-Generators, and electricity rate values applicable to the self-managed metering
system, in line with the new seasonal reference prices applicable in the March 1-April 30, 2025 period, approved by SE Resolution No.
110/2025.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">In this regard, and in accordance
with the service quality regulations for the 2025-2030 five-year period, the aforementioned ENRE Resolution approves the average VAD values
for the assessment of the service, technical product and commercial service-related penalties set in KWh, replacing the calculation methodology
of the previous 2017 RT, as from March 1, 2025, as provided for in ENRE Resolutions Nos. 3 and 8/2025.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">Additionally, on April 1, 2025,
by means of Resolution No. 224/2025, the ENRE approved the values of the Company&rsquo;s electricity rate schedule, effective from the
billing relating to the reading of meters subsequent to 12:00 AM on April 1, 2025, with an average increase in the CPD of 3.5%.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">Furthermore, the scheduled date
for the issuance of the resolutions that approve the Company&rsquo;s electricity rate schedules in the framework of the Five-year Electricity
Rate Review (RT), which had been set for March 31, 2025, was postponed to April 30, 2025.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">Additionally, on April 3, 2025,
by means of Resolution No. 237/2025, the ENRE revoked Section 2 of ENRE Resolution No. 4/2025 dated January 7, 2025, and approved a rate
of return on assets in real terms and after taxes of 6.50%, equivalent to a rate in real terms before taxes of 9.99% (increase of 4.5%).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">Finally, on April 29, 2025, ENRE
Resolution No. 304/2025 approves the electricity rate and regulatory framework for the 2025-2030 period relating to the Five-year Electricity
Rate Review (RT).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The aforementioned resolution
provides for:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The approval of the Company&rsquo;s
electricity rate schedule effective from the billing relating to the reading of meters subsequent to 12:00 AM on May 1, 2025, with a 3%
increase in the CPD, plus a monthly increase of 0.42% in real terms starting on June 1, 2025, and continuing in the months thereafter
through November 1, 2027. The adjustment will take into consideration the price effect determined by the indexation formula, with a monthly
frequency, and the annual adjustment that may arise due to deviations from compliance with the investment plan.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The approval of the adjustment
mechanism to be applied on a monthly basis to the CPD, resulting from the indexation formula based on price indexes (CPI and WPI).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The approval of the Efficiency
Incentive Factor (E Factor).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The updating of the Company&rsquo;s
Concession Agreement, by approving new texts of the Electricity Rate System, Electricity Rate Setting Procedure, and Quality Regulations
and Penalties Sub-annexes, and the Supply Regulations, with the aim of adjusting the regulatory framework, effective from May 1, 2025.
</FONT></TD></TR></TABLE>

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

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


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    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>b)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Agreements on the Regularization
of Payment Obligations with CAMMESA &ndash; Debt for the purchase of energy in the MEM</B></FONT></TD></TR></TABLE>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">On March 13, 2025, by means of
Executive Order No. 186/2025, the PEN approved the 2025 General Budget, which, in its Section 7, provides for a Special System for the
Regularization of Payment Obligations with CAMMESA and/or with the MEM for the debts accumulated by electricity distribution companies
as of November 30, 2024. For the remaining debts, this system for the regularization of payment obligations provides for a Payment Plan
consisting of up to 72 monthly installments, a 12-month grace period, and an interest rate equivalent to up to 50% of that in effect in
the MEM.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">In this regard, the possibility
of converting into pesos the already regularized debt denominated in MWh provided for in the second paragraph of Section 89 of Law No.
27,701 on the 2023 General Budget, which is effective for fiscal year 2025 pursuant to Section 27 of Law No. 24,156, as amended, should
also be considered. As of March 31, 2025, the Company&rsquo;s debt relating to the Payment Plan denominated in MWh totals $ 122,422.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">As a condition subsequent of
the agreements to be signed, electricity distribution companies must regularize and comply, in due time and in proper form, with the payment
of the current billing with CAMMESA and with any other arrangements signed prior to the regularization system. Furthermore, in fulfillment
of their obligations and responsibilities, different mechanisms will be implemented to promote the making of investments aimed at improving
the electricity system. It is worth mentioning that since April 2024 the Company has been up to date with the payments of CAMMESA&rsquo;s
current billing.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">Additionally, a Special System
of Credits is implemented for those electricity distribution companies that as of December 31, 2024 have not had unregularized debt with
CAMMESA and have settled all 2024 transactions, pursuant to the conditions set by the application authority.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">In this regard, on April 21,
2025, by means of Directive No. 1/2025, the Energy Under-secretariat approved the terms of the System for the Regularization of Payment
Obligations, which include:</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">the outstanding debts with the
MEM not yet included in payment plans existing prior to November 30, 2024, payable in 72 monthly installments, with a 12-month grace period,
and at the interest rate in effect in the MEM, reduced by 50%, which will be reviewed semi-annually if a variation of 500 basis points
occurs;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">the outstanding debts with the
MEM included in payment plans signed prior to the new system, in the framework of Section 87 of Law No. 27,591 and SE Resolution No. 642/2022,
with the duly agreed-upon terms remaining in effect; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(iii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">the outstanding debts with the
MEM included in payment plans signed prior to the new system, in the framework of Section 89 of Law No.27,701, which provides for the
conversion into pesos of the Payment plan in MWh, at the price applicable to the payment of the October 2024 installment, with all other
duly agreed-upon terms remaining in effect.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">At the date of issuance of these
condensed interim consolidated financial statements, the new Memorandum of Agreement has not been formalized, with the negotiations between
the parties being currently underway.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>c)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Framework Agreement</B></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">In accordance with the Agreement
entered by <B>edenor</B>, the Federal Government and the Province of Buenos Aires, and in connection with electricity consumption generated
in 2025, the ENRE has been informed for validation purposes of the credits against the Federal Government and the Province of Buenos Aires
for $ 2,065 million and $ 2,798 million, respectively.</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>


<!-- Field: Page; Sequence: 15 -->
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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: center; width: 100%"><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>CONDENSED INTERIM CONSOLIDATED</B></FONT></P><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>FINANCIAL STATEMENTS </B></FONT></P><P STYLE="text-align: right; margin: 0; font: 9pt/115% Verdana, Helvetica, Sans-Serif; color: #A6A6A6"><FONT STYLE="letter-spacing: 2pt">NOTES</FONT></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">At the date of issuance of these
condensed interim consolidated financial statements, the amounts to be contributed by the Federal Government and the Province of Buenos
Aires, whose crediting and/or offsetting against debts with CAMMESA for electricity consumption of 2024 is still pending, total $ 2,617
and $ 4,378 respectively. Furthermore, the amount to be contributed by the Federal Government, whose crediting and/or offsetting against
debts with CAMMESA for electricity consumption of 2023 is still pending, totals $ 352.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>Note</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>3 |</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #0070C0">&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Basis of preparation</FONT></B></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">These condensed interim consolidated
financial statements for the three-month period ended March 31, 2025 have been prepared in accordance with the provisions of IAS 34 &ldquo;Interim
Financial Reporting&rdquo;. They were approved for issue by the Company&rsquo;s Board of Directors on May 9, 2025.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">By means of General Resolution
No. 622/2013, the CNV provided for the application of Technical Resolution No. 26 of the FACPCE, which adopts the IFRS issued by the IASB,
for those entities that are included in the public offering system of Law No. 17,811, as amended, whether on account of their capital
or their corporate notes, or have requested authorization to be included in the aforementioned system.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">These condensed interim consolidated
financial statements include all the necessary information in order for the users to properly understand the relevant facts and transactions
that have occurred subsequent to the issuance of the last Consolidated Financial Statements for the year ended December 31, 2024 and until
the date of issuance of these condensed interim consolidated financial statements. The Company&rsquo;s Management estimates that they
include all the necessary adjustments to fairly present the results of operations for each period. The results of operations for the three-month
period ended March 31, 2025 and its comparative period as of March 31, 2024 do not necessarily reflect the Company&rsquo;s results in
proportion to the full fiscal year. Therefore, the condensed interim consolidated financial statements should be read together with the
audited Consolidated Financial Statements as of December 31, 2024 prepared under IFRS.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The Company&rsquo;s condensed
interim consolidated financial statements are measured in pesos (the legal currency in Argentina) restated in accordance with that mentioned
in this Note, which is also the presentation currency.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt"><B>Comparative information </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The balances as of December 31
and March 31, 2024, as the case may be, disclosed in these condensed interim consolidated financial statements for comparative purposes,
arise as a result of restating the annual Consolidated Financial Statements and the Condensed Interim Consolidated Financial Statements
as of those dates, respectively, to the purchasing power of the currency at March 31, 2025, as a consequence of the restatement of financial
information described hereunder. Furthermore, in addition to the situation reported in Note 1, certain amounts of the financial statements
presented in comparative form have been reclassified in order to maintain consistency of presentation with the amounts of the current
periods.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt"><B>Restatement of financial information</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The condensed interim consolidated
financial statements, including the figures relating to the previous year/period, have been stated in terms of the measuring unit current
at March 31, 2025, in accordance with IAS 29 &ldquo;Financial reporting in hyperinflationary economies&rdquo;, using the indexes published
by the FACPCE. The inflation rate for the period of January 1, 2025 - March 31, 2025 was 8.6%.&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>




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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: center; width: 100%"><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>CONDENSED INTERIM CONSOLIDATED</B></FONT></P><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>FINANCIAL STATEMENTS </B></FONT></P><P STYLE="text-align: right; margin: 0; font: 9pt/115% Verdana, Helvetica, Sans-Serif; color: #A6A6A6"><FONT STYLE="letter-spacing: 2pt">NOTES</FONT></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; color: #0070C0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Note</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>4
                                            |</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;
                                            </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Accounting
                                            policies</FONT></B></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 71.45pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The accounting policies adopted
for these condensed interim consolidated financial statements are consistent with those used in the Consolidated Financial Statements
for the last financial year, which ended on December 31, 2024.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="letter-spacing: -0.15pt"><U>New
accounting standards, amendments and interpretations </U></FONT><U>issued by the IASB that are effective as of March 31, 2025 and have
been adopted by the Company:</U></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">- IAS 21 &ldquo;The effects of
changes in foreign exchange rates&rdquo;, amended in August 2023. Guidelines are included in order to specify when a currency is interchangeable
and how to determine the exchange rate to apply when it is not.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">There are no new IFRS or IFRIC
applicable as from this period that have a material impact on the Company&rsquo;s condensed interim consolidated financial statements.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="letter-spacing: -0.15pt"><U>New
accounting standards, amendments and interpretations </U></FONT><U>issued by the IASB that are not yet effective and have not been early
adopted by the Company</U></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 28.35pt">-&#9;IFRS 18 &ldquo;Presentation
and disclosure in financial statements&rdquo;, issued in April 2024. It includes new requirements for all entities applying IFRS for the
presentation and disclosure of information in financial statements. It introduces three defined categories of income and expenses (operating,
investing and financing) that modify the structure of the statement of profit or loss, and requires companies to present new defined subtotals,
including operating profit or loss, in order to analyze the companies&rsquo; financial performance and facilitate comparison between companies.
The standard requires companies to disclose explanations of those company-specific measures that are related to the statement of profit
or loss, referred to as management-defined performance measures. It provides enhanced guidance on how to organize information and whether
to provide it in the primary financial statements or in the notes. It requires that companies provide more transparency about operating
expenses. The management-defined performance measures, as defined by IFRS 18, consist of measures that are subtotals of income and expenses.
IFRS 18 does not require companies to provide management-defined performance measures but does require companies to explain them if they
are provided.</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 28.35pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">IFRS 18 replaces IAS 1 &ldquo;Presentation
of financial statements&rdquo;, but carries forward many requirements from IAS 1 unchanged. IFRS 18 is effective for annual reporting
periods beginning as from January 1, 2027, with early adoption permitted. In this regard, the Company is currently assessing the impact
of IFRS 18 and estimates that there will be significant changes in the disclosure of the Statement of Comprehensive Income and its related
notes.</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 28.35pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 28.35pt">- IFRS 19 &ldquo;Subsidiaries
without public accountability: Disclosures&rdquo;, issued in May 2024. It specifies reduced disclosure requirements that an eligible entity
is permitted to apply instead of the disclosure requirements in other IFRS. IFRS 19 applies to annual reporting periods beginning as from
January 1, 2027, earlier application permitted.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 28.35pt">- IFRS for SMEs: It includes
amendments to key sections and incorporates a new section on fair value measurement. It aligns definitions and criteria with full IFRS
(IFRS 3, 9, 10, 13 and 15), and introduces changes in assets, liabilities, control, revenue and business combinations concepts. It is
effective for annual reporting periods beginning as from January 1, 2027, earlier application permitted.&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>




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    <!-- Field: /Page -->
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; color: #0070C0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Note</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>5
                                            |</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;
                                            </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Financial
                                            risk management</FONT></B></TD></TR></TABLE>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0 71.45pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="color: #0070C0"><B>Note 5.1 | </B></FONT><B>
Financial risk factors</B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The Company&rsquo;s activities
and the market in which it operates expose the Company to a number of financial risks: market risk (including currency risk, cash flows
interest rate risk, fair value interest rate risk and price risk), credit risk and liquidity risk.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">Additionally, the difficulty
in obtaining financing in international or national markets could affect certain variables of the Company&rsquo;s business, such as interest
rates, foreign currency exchange rates and the access to sources of financing.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in; text-align: justify">With regard to the Company&rsquo;s
risk management policies, there have been no significant changes since the last fiscal year end.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 42.55pt"></TD><TD STYLE="width: 28.35pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B><I>a.</I></B></FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B><I>Market risks</I></B></FONT></TD></TR></TABLE>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 70.9pt"><B><I>&nbsp;</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 49.65pt"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">i.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><U>Currency risk </U></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">As of&nbsp;March 31, 2025 and
December 31, 2024, the Company&rsquo;s balances in foreign&nbsp;currency are as follow:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 35%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 12%">Currency</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 12%">&nbsp;Amount in foreign currency&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 12%"><P STYLE="margin-top: 0; margin-bottom: 0">Exchange</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">rate (1)</P></TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 12%">Total <BR>
03.31.25</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 12%">Total <BR>
12.31.24</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">ASSETS</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">CURRENT ASSETS</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Other receivables</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">USD</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;7.1</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">1071.000</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;7,604</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;1,787</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Financial assets at fair value through profit or loss</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">USD</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">265.8</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">1071.000</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;284,672</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;319,289</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Cash and cash equivalents</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">USD</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;3.0</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">1071.000</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;&nbsp;3,213</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;15,640</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">TOTAL CURRENT ASSETS</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">&nbsp;295,489</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">&nbsp;&nbsp;336,716</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">TOTAL ASSETS</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 2pt double; text-align: right; background-color: white">&nbsp;295,489</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 2pt double; text-align: right; background-color: white">&nbsp;&nbsp;336,716</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">LIABILITIES</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">NON-CURRENT LIABILITIES</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Borrowings</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">USD</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">345.4</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">1074.000</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;370,944</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;&nbsp;385,360</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">TOTAL NON-CURRENT LIABILITIES</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">&nbsp;370,944</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">&nbsp;&nbsp;385,360</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">CURRENT LIABILITIES</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Trade payables</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">USD</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;24.6</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">1074.000</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">26,420</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;19,944</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">EUR</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;0.1</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">1162.390</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;116</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;116</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">CHF</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;0.2</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">1214.311</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;243</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;248</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Borrowings</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">USD</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;18.9</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">1074.000</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">20,302</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;13,550</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">TOTAL CURRENT LIABILITIES</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">47,081</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;33,858</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">TOTAL LIABILITIES</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 2pt double; text-align: right; background-color: white">&nbsp;418,025</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 2pt double; text-align: right; background-color: white">&nbsp;&nbsp;419,218</TD></TR>
  </TABLE>

<P STYLE="font: 6pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 7.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">The exchange rates used are the
BNA exchange rates in effect as of March 31, 2025 for United States dollars (USD), Euros (EUR) and Swiss francs (CHF).</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 53.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">ii.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><U>Fair value estimate </U></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The Company classifies the measurements
of financial instruments at fair value using a fair value hierarchy that reflects the relevance of the variables used for carrying out
such measurements. The fair value hierarchy has the following levels:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify">&middot; <B>Level 1</B>: quoted prices
(unadjusted) in active markets for identical assets or liabilities.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 35.45pt"><BR>
&middot; <B>Level 2</B>: inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly
(i.e. prices) or indirectly (i.e. derived from the prices).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify"><BR>
&middot; <B>Level 3</B>: inputs for the asset or liability that are not based on observable market data (i.e. unobservable inputs).</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The table below shows the Company&rsquo;s
financial assets and liabilities measured at fair value as of March 31, 2025 and December 31, 2024:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 58%">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 20%">&nbsp;LEVEL 1&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 20%">&nbsp;LEVEL 2&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">At March 31, 2025</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Assets</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: bottom">Other receivables</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Assigned assets and in custody</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;5,911</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;-</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: bottom">Financial assets at fair value through profit or loss:</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Negotiable instruments</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">53,933</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Mutual funds</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;307,496</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;-</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: bottom">Cash and cash equivalents:</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Mutual funds</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;1,058</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;-</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Total assets</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;368,398</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Liabilities</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: bottom">Other liabilities:</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Payment plan - CAMMESA</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;&nbsp;122,422</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Total liabilities</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 2pt double; text-align: right">-</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;122,422</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center">&nbsp;LEVEL 1&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center">&nbsp;LEVEL 2&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">At December 31, 2024</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Assets</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: bottom">Other receivables</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Transferred assets and in custody</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;9,711</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: bottom">Financial assets at fair value through profit or loss:</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Negotiable instruments</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;124,305</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Mutual funds</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;270,182</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: bottom">Cash and cash equivalents</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Mutual funds</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;487</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Total assets</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;404,685</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Liabilities</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: bottom">Other liabilities:</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Payment plan - CAMMESA</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;142,758</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Total liabilities</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">-</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;142,758</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 70.9pt; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 53.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">iii.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><U>Interest rate risk </U></FONT></TD></TR></TABLE>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0 7.1pt 0 0; text-align: justify; text-indent: 35.45pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">Interest rate risk is the risk
of fluctuation in the fair value or cash flows of an instrument due to changes in market interest rates. The Company&rsquo;s exposure
to interest rate risk is mainly related to its long-term debt obligations.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">Indebtedness at floating rates
exposes the Company to interest rate risk on its cash flows. Indebtedness at fixed rates exposes the Company to interest rate risk on
the fair value of its liabilities. As of March 31, 2025 and December 31, 2024, except for the Class No. 6 Corporate Notes issued by the
Company in Argentine pesos, at the private BADLAR floating interest rate plus an annual 7% fixed margin, the bank loans taken with Banco
Ciudad and Banco Provincia banks (Note 25), and the Payment plan with CAMMESA that is disclosed in the Other payables account (Notes
2.b and 24), all the loans were obtained at fixed interest rates. The Company&rsquo;s policy is to keep the largest percentage of its
indebtedness in instruments that accrue interest at fixed rates.&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>




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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: center; width: 100%"><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>CONDENSED INTERIM CONSOLIDATED</B></FONT></P><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>FINANCIAL STATEMENTS </B></FONT></P><P STYLE="text-align: right; margin: 0; font: 9pt/115% Verdana, Helvetica, Sans-Serif; color: #A6A6A6"><FONT STYLE="letter-spacing: 2pt">NOTES</FONT></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; color: #0070C0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Note</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>6
                                            |</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;
                                            </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Critical
                                            accounting estimates and judgments</FONT></B></TD></TR></TABLE>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The preparation of the condensed
interim consolidated financial statements requires the Company&rsquo;s Management to make estimates and assessments concerning the future,
exercise critical judgment and make assumptions that affect the application of the accounting policies and the reported amounts of assets
and liabilities and revenues and expenses.&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">These estimates and judgments
are permanently evaluated and are based upon past experience and other factors that are reasonable under the existing circumstances. Future
actual results may differ from the estimates and assessments made at the date of preparation of these condensed interim consolidated financial
statements.</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">In the preparation of these condensed
interim consolidated financial statements, there were no changes in either the critical judgments made by the Company when applying its
accounting policies or the sources of estimation uncertainty used with respect to those applied in the Consolidated Financial Statements
for the year ended December 31, 2024.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>Note</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>7 |</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #0070C0">&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Contingencies and lawsuits</FONT></B></TD></TR></TABLE>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The provision for contingencies
has been recorded to face situations existing at the end of each period that may result in a loss for the Company if one or more future
events occurred or failed to occur.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">At the date of issuance of these
condensed interim consolidated financial statements, there are no significant changes with respect to the situation reported by the Company
in the Consolidated Financial Statements as of December 31, 2024, except for the following:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Legal action brought by the
Municipality of Mor&oacute;n and other plaintiffs (7 4313-2025)</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The Company filed an appeal against
this interim precautionary measure (&ldquo;<I>precautelar</I>&rdquo;), and on March 20, 2025, the Local (San Mart&iacute;n) Appellate
Court in Administrative Matters upheld the appeal, partially reversing the resolution and directing the Company to inform users about
the existence of this legal action when service provision is suspended due to non-payment.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.4pt"><B>- Protecci&oacute;n a los Consumidores
y Usuarios de la Rep&uacute;blica Argentina Asociaci&oacute;n Civil (Procurar) &ndash; Class action for the protection of a constitutional
right (&ldquo;<I>amparo colectivo</I>&rdquo;)</B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The court allowed the Company
to extend the effects of the provisional measure until April 29, 2025.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>



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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: center; width: 100%"><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>CONDENSED INTERIM CONSOLIDATED</B></FONT></P><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>FINANCIAL STATEMENTS </B></FONT></P><P STYLE="text-align: right; margin: 0; font: 9pt/115% Verdana, Helvetica, Sans-Serif; color: #A6A6A6"><FONT STYLE="letter-spacing: 2pt">NOTES</FONT></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; color: #0070C0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Note</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>8
                                            |</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;
                                            </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Revenue
                                            from sales and energy purchases</FONT></B></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 49.65pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">We provide below a brief
description of the main services provided by the Company:</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0"><B>Sales of electricity</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 17%; border-top: #7F7F7F 1pt solid; border-bottom: #7F7F7F 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Small demand segment: Residential use and public lighting (T1)</FONT></TD>
    <TD STYLE="width: 83%; border-top: #7F7F7F 1pt solid; border-bottom: #7F7F7F 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Relates to the highest demand average recorded over 15 consecutive minutes that is less than 10 kilowatts. In turn, this segment is subdivided into different residential categories based on consumption. This segment also includes a subcategory for public lighting. Users are categorized by the Company according to their consumption.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #7F7F7F 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Medium demand segment: Commercial and industrial customers (T2)</FONT></TD>
    <TD STYLE="border-bottom: #7F7F7F 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Relates to the highest demand average recorded over 15 consecutive minutes that is equal to or greater than 10 Kilowatts but less than 50 Kilowatts. The Company agrees with the user the supply capacity.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Large demand segment (T3)</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Relates to the highest demand average recorded over 15 consecutive minutes that is greater than 50 Kilowatts. In turn, this segment is subdivided into categories according to the supply voltage -low, medium or high-, from voltages of up to 1 Kilovolt to voltages greater than 66 Kilovolts.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-top: #7F7F7F 1pt solid; border-bottom: #7F7F7F 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Other: (Shantytowns/</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Wheeling system)</P></TD>
    <TD STYLE="border-top: #7F7F7F 1pt solid; border-bottom: #7F7F7F 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Revenue is recognized to the extent that a renewal of the Framework Agreement has been formalized for the period in which the service was accrued. In the case of the service related to the Wheeling system, revenue is recognized when the Company allows third parties (generators and large users) to access the available transmission capacity within its distribution system upon payment of a wheeling fee. </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The KWh price relating to the
Company&rsquo;s sales of electricity is determined by the ENRE by means of the periodic publication of electricity rate schedules (Note
2.a), for those distributors that are regulated by the aforementioned Regulatory Authority, based on the rate setting and adjustment process
set forth in the Concession Agreement.</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0"><B>Other services</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 17%; border-top: #7F7F7F 1pt solid; border-bottom: #7F7F7F 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Right of use of poles</FONT></TD>
    <TD STYLE="width: 83%; border-top: #7F7F7F 1pt solid; border-bottom: #7F7F7F 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Revenue is recognized to the extent that the rental value of the right of use of the poles used by the Company&rsquo;s electricity network has been agreed upon for the benefit of third parties.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #7F7F7F 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Connection and reconnection charges</FONT></TD>
    <TD STYLE="border-bottom: #7F7F7F 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Relate to revenue accrued for the carrying out of the electricity supply connection of new customers or the reconnection of already existing users.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0"><B></B></P>


<!-- Field: Page; Sequence: 21 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence -->&nbsp;</FONT></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%"><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>CONDENSED INTERIM CONSOLIDATED</B></FONT></P><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>FINANCIAL STATEMENTS </B></FONT></P><P STYLE="text-align: right; margin: 0; font: 9pt/115% Verdana, Helvetica, Sans-Serif; color: #A6A6A6"><FONT STYLE="letter-spacing: 2pt">NOTES</FONT></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0"><B>Energy purchases</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 17%; border-top: #7F7F7F 1pt solid; border-bottom: #7F7F7F 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Energy purchase </FONT></TD>
    <TD STYLE="width: 83%; border-top: #7F7F7F 1pt solid; border-bottom: #7F7F7F 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The Company bills its users the cost of its purchases of energy, which includes charges for purchases of energy and power. The Company purchases electric power at seasonal prices approved by the SE. The price of the Company&rsquo;s electric power reflects the costs of transmission and other regulatory charges.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #7F7F7F 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Energy</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">losses</P></TD>
    <TD STYLE="border-bottom: #7F7F7F 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Energy losses are equivalent to the difference between energy purchased and energy sold. These losses can be classified into technical and non-technical losses. Technical losses represent the energy lost during transmission and distribution within the network as a consequence of the natural heating of the conductors and transformers that carry electricity from power generation plants to users. Non-technical losses represent the remainder of the Company&rsquo;s energy losses and are mainly due to the illegal use of its services or the theft of energy. Energy losses require that the Company purchase additional energy in order to meet the demand and its Concession Agreement allows it to recover from its users the cost of these purchases up to a loss factor specified in its concession for each rate category. The current loss factor recognized in the tariff by virtue of its concession amounts approximately to 9.1%.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">03.31.25</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">03.31.24</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; width: 48%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 12%">GWh</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 12%">$</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 12%">GWh</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 12%">$</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Sales of electricity</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: justify">Small demand segment: Residential use and public lighting (T1)</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3,444</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;420,079</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3,473</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;249,868</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: justify">Medium demand segment: Commercial and industrial (T2)</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;408</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">76,088</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;411</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">59,169</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: justify">Large demand segment (T3)</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;892</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;124,716</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;932</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;103,158</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: justify">Other: (Shantytowns/Wheeling system)<BR></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,203</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">14,943</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,165</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">16,781</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Subtotal - Sales of electricity</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">5,947</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;&nbsp;635,826</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">5,981</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;&nbsp;428,976</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Other services</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Right of use of poles</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;2,243</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;1,416</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Connection and reconnection charges</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;466</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;221</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Subtotal - Other services</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;&nbsp;2,709</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;&nbsp;1,637</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Total - Revenue</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;638,535</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;430,613</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">03.31.25</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">03.31.24</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center">GWh</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center">$</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center">GWh</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center">$</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Energy purchases <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;7,045&nbsp;&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 2pt double; text-align: right">(380,182)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;7,004&nbsp;&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 2pt double; text-align: right">(250,142)</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: center; text-indent: -7.1pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8.5pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">As of March 31, 2025 and 2024,
the cost of energy purchases includes technical and non-technical energy losses for 1,098 GWh and 1,023 GWh, respectively.<BR STYLE="clear: both">
</FONT></TD></TR></TABLE>



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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: center; width: 100%"><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>CONDENSED INTERIM CONSOLIDATED</B></FONT></P><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>FINANCIAL STATEMENTS </B></FONT></P><P STYLE="text-align: right; margin: 0; font: 9pt/115% Verdana, Helvetica, Sans-Serif; color: #A6A6A6"><FONT STYLE="letter-spacing: 2pt">NOTES</FONT></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; color: #0070C0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Note</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>9
                                            |</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;
                                            </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Expenses
                                            by nature</FONT></B></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 49.65pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The detail of expenses by nature
is as follows:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center">Expenses by nature at 03.31.25</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 40%">&nbsp;Description&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 14%">&nbsp;Transmission and distribution expenses&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 14%"><P STYLE="margin-top: 0; margin-bottom: 0">Selling</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">expenses&nbsp;</P></TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 14%">&nbsp;Administrative expenses&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 14%">&nbsp;Total&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Salaries and social security taxes&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;39,368</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;4,853</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">11,423</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;&nbsp;55,644</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Pension plans</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;1,226</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">151</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;356</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;1,733</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Communications expenses</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;1,924</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;2,200</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;131</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;4,255</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Allowance for the impairment of trade and other receivables</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;6,324</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;6,324</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Supplies consumption&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;10,380</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;849</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;&nbsp;11,229</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Leases and insurance&nbsp;&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">528</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;9</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;2,355</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;2,892</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Security service</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;6,483</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">143</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;322</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;6,948</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Fees and remuneration for services</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;32,870</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;14,925</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">25,499</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;&nbsp;73,294</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Public relations and marketing</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;1,295</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;1,295</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Advertising and sponsorship&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">667</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">667</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Reimbursements to personnel&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;2</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;2</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD COLSPAN="2" STYLE="text-align: left">Depreciation of property, plant and equipment</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;30,163</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;4,495</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;3,688</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;&nbsp;38,346</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: left">Depreciation of right-of-use asset</TD>
    <TD STYLE="text-align: right">181</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">362</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;1,269</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;1,812</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD COLSPAN="2" STYLE="text-align: left">Directors and Supervisory Committee <BR>
members&rsquo; fees&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;196</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">196</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>ENRE penalties</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;3,826</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;4,970</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;8,796</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Taxes and charges&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;11,040</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;9,398</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;&nbsp;20,438</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Other</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;10</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;3</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;114</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">127</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: center">At 03.31.25</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">126,959</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;51,437</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">55,602</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">233,998</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 49.65pt; text-align: justify"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The expenses included in the
chart above are net of the Company&rsquo;s own expenses capitalized in property, plant and equipment as of March 31, 2025 for $ 8,289.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center">Expenses by nature at 03.31.24</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 40%">&nbsp;Description&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 14%">&nbsp;Transmission and distribution expenses&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 14%"><P STYLE="margin-top: 0; margin-bottom: 0">Selling</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">expenses&nbsp;</P></TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 14%">&nbsp;Administrative expenses&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 14%">&nbsp;Total&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Salaries and social security taxes&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;43,341</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;5,757</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">13,549</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;&nbsp;62,647</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Pension plans</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;4,141</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">550</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;1,294</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;5,985</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Communications expenses</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;1,480</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;1,043</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;2,523</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Allowance for the impairment of trade and other receivables</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">688</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">688</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Supplies consumption&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;9,583</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;1,003</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;&nbsp;10,586</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Leases and insurance&nbsp;&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">282</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;5</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;785</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;1,072</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Security service</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;2,296</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">179</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;214</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;2,689</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Fees and remuneration for services</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;15,791</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;8,973</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">14,586</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;&nbsp;39,350</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Public relations and marketing</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;2,832</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;2,832</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Advertising and sponsorship&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;1,459</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;1,459</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Reimbursements to personnel&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;1</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;1</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">Depreciation of property, plant and equipment</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;30,637</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;4,565</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;3,746</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;&nbsp;38,948</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Depreciation of right-of-use asset</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">253</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">506</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;1,771</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;2,530</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD COLSPAN="2" STYLE="text-align: left">Directors and Supervisory Committee<BR>
members&rsquo; fees&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;251</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">251</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>ENRE penalties</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;7,071</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;33,642</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;&nbsp;40,713</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Taxes and charges&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;4,005</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;2,619</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;6,624</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Other</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;4</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;1</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;107</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">112</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: center">At 03.31.24</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">114,879</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;64,205</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">39,926</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">219,010</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt"></FONT></P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The expenses included in the
chart above are net of the Company&rsquo;s own expenses capitalized in property, plant and equipment as of March 31, 2024 for $ 9,292.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>




<!-- Field: Page; Sequence: 23 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence -->&nbsp;</FONT></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%"><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>CONDENSED INTERIM CONSOLIDATED</B></FONT></P><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>FINANCIAL STATEMENTS </B></FONT></P><P STYLE="text-align: right; margin: 0; font: 9pt/115% Verdana, Helvetica, Sans-Serif; color: #A6A6A6"><FONT STYLE="letter-spacing: 2pt">NOTES</FONT></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; color: #0070C0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Note</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>10
                                            |</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
                                            </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Other
                                            operating income (expense), net</FONT></B></TD></TR></TABLE>

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

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-align: justify; width: 54%">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold; border-bottom: Black 0.5pt solid; width: 12%">Note</TD>
    <TD STYLE="font-weight: bold; text-align: justify; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; background-color: white; width: 16%">03.31.25</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; background-color: white; width: 16%">03.31.24</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Other operating income</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Income from customer surcharges</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">5,452</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;6,587</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Commissions on municipal taxes collection</TD>
    <TD STYLE="font-weight: bold; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">821</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;723</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">Fines to suppliers</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">457</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;243</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">Services provided to third parties</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,429</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;676</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Income from non-reimbursable customer <BR>
contributions</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">207</TD>
    <TD STYLE="vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;93</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Expense recovery</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;15</TD>
    <TD STYLE="vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;37</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Other</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;11</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;113</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Total other operating income</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">8,392</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;8,472</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Other operating expense</TD>
    <TD STYLE="font-weight: bold; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Gratifications for services</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;(549)</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(535)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Cost for services provided to third parties</TD>
    <TD STYLE="font-weight: bold; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;(1,354)</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(582)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Severance paid&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(50)</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;(48)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Provision for contingencies</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center">30</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;(5,973)</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(3,026)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: left">Disposals of property, plant and equipment&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;(1,710)</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: right">(275)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Other</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(26)</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;(91)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Total other operating expense</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;(9,662)</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(4,557)</TD></TR>
  </TABLE>

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

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%"><B></B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>Note</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>11 |</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #0070C0">
</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Net finance costs</FONT></B></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 49.65pt; text-align: justify"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; width: 54%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center; width: 12%">Note</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; background-color: white; width: 16%">03.31.25</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; background-color: white; width: 16%">03.31.24</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-decoration: underline; background-color: white">Financial income</TD>
    <TD STYLE="text-decoration: underline; background-color: white"><U></U></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Financial interest</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-bottom: Black 2pt double; text-align: right">87</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-bottom: Black 2pt double; text-align: right">179</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-decoration: underline; background-color: white">Financial costs</TD>
    <TD STYLE="text-decoration: underline; background-color: white"><U></U></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Commercial interest</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;(38,495)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(121,136)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Borrowings interest</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;(18,279)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;(4,051)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Penalties interest</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(476)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;(51,365)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Fiscal interest and other</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;(1,283)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;(18)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Bank fees and expenses</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(781)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(549)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">Total financial costs</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(59,314)</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(177,119)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-decoration: underline; background-color: white">Other financial results</TD>
    <TD STYLE="text-decoration: underline; background-color: white"><U></U></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Changes in fair value of financial assets</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">9,828</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;22,474</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Changes in fair value of financial liabilities</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(809)</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(165,610)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Loss on integration in kind of Corporate Notes</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">24</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;-</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;(1,521)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Exchange differences</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;(2,922)</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;(3,796)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Adjustment to present value of receivables</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;(1,111)</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;(1,808)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Other financial costs (*)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;(14,100)</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;(6,568)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">Total other financial results</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(9,114)</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(156,829)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">Total net financial costs</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(68,341)</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(333,769)</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: center">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 49.65pt">(*) As of March 31, 2025 and 2024, $ 14,100 and $ 6,568, respectively,
relate to Empresa de Energ&iacute;a del Cono Sur S.A. technical assistance.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 49.65pt">&nbsp;</P>



<!-- Field: Page; Sequence: 24 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence -->&nbsp;</FONT></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%"><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>CONDENSED INTERIM CONSOLIDATED</B></FONT></P><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>FINANCIAL STATEMENTS </B></FONT></P><P STYLE="text-align: right; margin: 0; font: 9pt/115% Verdana, Helvetica, Sans-Serif; color: #A6A6A6"><FONT STYLE="letter-spacing: 2pt">NOTES</FONT></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; color: #0070C0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Note</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>12
                                            |</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
                                            </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Basic
                                            and diluted earnings per share</FONT></B></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 70.9pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 70.9pt"><B><I>Basic</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The basic earnings per share
are calculated by dividing the profit attributable to the holders of the Company&rsquo;s equity instruments by the weighted average number
of common shares outstanding as of March 31, 2025 and 2024, excluding common shares purchased by the Company and held as treasury shares.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The basic earnings per share
coincide with the diluted earnings per share, inasmuch as there exist neither preferred shares nor Corporate Notes convertible into common
shares.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; width: 58%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 20%">03.31.25</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 20%">03.31.24</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Income for the period attributable to the owners of the Company&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;35,911</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;113,542</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Weighted average number of common shares outstanding</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">875</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;&nbsp;875</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left">Basic and diluted income per share &ndash; in pesos</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">41.04</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">129.76</TD></TR>
  </TABLE>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: center; text-indent: -28.4pt">&nbsp;</P>


<!-- Field: Page; Sequence: 25 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence -->&nbsp;</FONT></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%"><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>CONDENSED INTERIM CONSOLIDATED</B></FONT></P><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>FINANCIAL STATEMENTS </B></FONT></P><P STYLE="text-align: right; margin: 0; font: 9pt/115% Verdana, Helvetica, Sans-Serif; color: #A6A6A6"><FONT STYLE="letter-spacing: 2pt">NOTES</FONT></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; color: #0070C0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Note</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>13
                                            |</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
                                            </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Property,
                                            plant and equipment</FONT></B></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 49.65pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 49.65pt; text-align: justify"><B></B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 0.5pt solid; width: 20%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 9%"><FONT STYLE="font-size: 7pt">&nbsp;Lands
    and buildings&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 9%"><FONT STYLE="font-size: 7pt">&nbsp;Substations&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 9%"><FONT STYLE="font-size: 7pt">&nbsp;High,
    medium and low voltage lines&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 9%"><FONT STYLE="font-size: 7pt">&nbsp;Meters
    and Transformer chambers and platforms&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 9%"><FONT STYLE="font-size: 7pt">&nbsp;Tools,
    Furniture, vehicles, equipment and communications&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 9%"><FONT STYLE="font-size: 7pt">&nbsp;Construction
    in process&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 9%"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;Supplies
    and spare parts&nbsp;</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 9%"><FONT STYLE="font-size: 7pt">&nbsp;Total&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 7pt">&nbsp;At 12.31.24&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 7pt">Cost</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;88,365</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;800,607</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,028,318</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;909,175</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;322,491</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;978,848</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;37,191</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">5,164,995</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-size: 7pt">Accumulated depreciation</FONT></TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">(27,044)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">(339,172)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">(937,047)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;(433,851)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">(167,970)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(1,905,084)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double"><FONT STYLE="font-size: 7pt">&nbsp;Net
    amount&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;61,321</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;461,435</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,091,271</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">&nbsp;475,324</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;154,521</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;978,848</FONT></TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">&nbsp;37,191</FONT></TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 7pt">3,259,911</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 7pt">Additions</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">172</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;63</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;3,747</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,542</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">73,871</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">1</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;79,398</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 7pt">Disposals</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">(3)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">(468)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;(1,580)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(2,051)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 7pt">Transfers</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">3,387</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">14,365</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;52,859</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">12,113</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">(7,924)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(74,800)</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-size: 7pt">Depreciation for the period</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(353)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">(6,997)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;(16,417)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;(8,445)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">(6,134)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;(38,346)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid"><FONT STYLE="font-size: 7pt">&nbsp;Net
    amount 03.31.25&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;64,527</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;468,802</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,127,308</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;481,159</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;142,005</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;977,919</FONT></TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;37,192</FONT></TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">3,298,912</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 7pt">&nbsp;At 03.31.25&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 7pt">Cost</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;91,924</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;814,935</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;2,079,706</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;922,462</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;315,695</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;977,919</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;37,192</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">5,239,833</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-size: 7pt">Accumulated depreciation</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">(27,397)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">(346,133)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">(952,398)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;(441,303)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">(173,690)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(1,940,921)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double"><FONT STYLE="font-size: 7pt">&nbsp;Net
    amount&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;64,527</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;468,802</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,127,308</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;481,159</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;142,005</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;977,919</FONT></TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;37,192</FONT></TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 7pt">3,298,912</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 49.65pt; text-align: justify"><B></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 28.35pt; text-align: center; text-indent: -28.35pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 56.7pt"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">During the period ended March 31, 2025, the Company capitalized
as direct own costs $ 8,289.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0 0 0 70.9pt">&nbsp;</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0 0 0 70.9pt">&nbsp;</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">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence -->&nbsp;</FONT></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%"><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>CONDENSED INTERIM CONSOLIDATED</B></FONT></P><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>FINANCIAL STATEMENTS </B></FONT></P><P STYLE="text-align: right; margin: 0; font: 9pt/115% Verdana, Helvetica, Sans-Serif; color: #A6A6A6"><FONT STYLE="letter-spacing: 2pt">NOTES</FONT></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 0.5pt solid; width: 20%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 9%"><FONT STYLE="font-size: 7pt">&nbsp;Lands
    and buildings&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 9%"><FONT STYLE="font-size: 7pt">&nbsp;Substations&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 9%"><FONT STYLE="font-size: 7pt">&nbsp;High,
    medium and low voltage lines&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 9%"><FONT STYLE="font-size: 7pt">&nbsp;Meters
    and Transformer chambers and platforms&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 9%"><FONT STYLE="font-size: 7pt">&nbsp;Tools,
    Furniture, vehicles, equipment and communications&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 9%"><FONT STYLE="font-size: 7pt">&nbsp;Construction
    in process&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 9%"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;Supplies
    and spare parts&nbsp;</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 9%"><FONT STYLE="font-size: 7pt">&nbsp;Total&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 7pt">&nbsp;At 12.31.23&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 7pt">Cost</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;86,690</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;780,696</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,960,297</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;869,592</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;276,967</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;769,269</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;14,210</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">4,757,721</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-size: 7pt">Accumulated depreciation</FONT></TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">(24,782)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">(312,095)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">(870,273)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;(396,115)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">(144,803)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(1,748,068)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double"><FONT STYLE="font-size: 7pt">&nbsp;Net
    amount&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;61,908</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;468,601</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,090,024</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">&nbsp;473,477</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;132,164</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;769,269</FONT></TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">&nbsp;14,210</FONT></TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 7pt">3,009,653</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 7pt">Additions</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">284</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;156</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;3,067</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,032</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">72,007</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;76,547</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 7pt">Disposals</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">(108)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;(165)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;(95)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(368)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 7pt">Transfers</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">608</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,439</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">8,352</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;5,773</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">(7,652)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(13,820)</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">5,300</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-size: 7pt">Depreciation for the period</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(591)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">(7,330)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;(16,964)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;(8,944)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">(5,119)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;(38,948)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid"><FONT STYLE="font-size: 7pt">&nbsp;Net
    amount 03.31.24&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;62,209</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;462,711</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,081,460</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;473,208</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;120,330</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;827,456</FONT></TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;19,510</FONT></TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">3,046,884</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 7pt">&nbsp;At 03.31.24&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 7pt">Cost</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;87,582</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;782,139</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,967,203</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;878,181</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;270,068</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;827,456</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;19,510</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">4,832,139</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-size: 7pt">Accumulated depreciation</FONT></TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">(25,373)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">(319,428)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">(885,743)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;(404,973)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">(149,738)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;(1,785,255)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double"><FONT STYLE="font-size: 7pt">&nbsp;Net
    amount&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;62,209</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;462,711</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;1,081,460</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;473,208</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;120,330</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;827,456</FONT></TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">&nbsp;19,510</FONT></TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 7pt">3,046,884</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: -14.2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 70.9pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 56.7pt"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; font-size: 9pt">&#183;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">During the period ended March 31, 2024, the Company capitalized
as direct own costs $ 9,292</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 70.9pt; text-indent: -14.2pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 70.9pt">&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">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence -->&nbsp;</FONT></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%"><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>CONDENSED INTERIM CONSOLIDATED</B></FONT></P><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>FINANCIAL STATEMENTS </B></FONT></P><P STYLE="text-align: right; margin: 0; font: 9pt/115% Verdana, Helvetica, Sans-Serif; color: #A6A6A6"><FONT STYLE="letter-spacing: 2pt">NOTES</FONT></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; color: #0070C0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Note</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>14
                                            |</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
                                            </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Right-of-use
                                            assets</FONT></B></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The leases recognized as right-of-use
assets in accordance with IFRS 16 are disclosed below:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="width: 59%">&nbsp;</TD>
    <TD STYLE="width: 20%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 19%">&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center">&nbsp;03.31.25&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center">&nbsp;12.31.24&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>Right of uses asset by leases</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">&nbsp;9,535</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">&nbsp;11,347</TD></TR>
  </TABLE>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 35.45pt">The development of right-of-use assets is as follows:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 35.45pt">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: justify; width: 59%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 20%">&nbsp;03.31.25&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 19%">&nbsp;03.31.24&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Balance at beginning of the year</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right; background-color: white">&nbsp;&nbsp;11,347</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right; background-color: white">&nbsp;&nbsp;8,369</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: left">Additions</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;3,906</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: middle; text-align: left">Depreciation for the period</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;(1,812)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2,530)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Balance at end of the period</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">&nbsp;9,535</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">&nbsp;&nbsp;9,745</TD></TR>
  </TABLE>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>Note</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>15 |</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #0070C0">
</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Inventories</FONT></B></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 49.65pt; text-align: justify"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; width: 59%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 20%">03.31.25</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 19%">12.31.24</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Supplies and spare-parts</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;172,364</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;162,606</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 14.2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 14.2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>Note</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>16 |</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #0070C0">
</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Other receivables</FONT></B></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 49.65pt; text-align: justify"><B>&nbsp;</B></P>



<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: left; width: 56%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; border-bottom: Black 0.5pt solid; text-align: center; width: 10%">Note</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; font-family: Arial, sans-serif; text-align: center; width: 16%">&nbsp;03.31.25&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; font-family: Arial, sans-serif; text-align: center; width: 16%">&nbsp;12.31.24&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: left">Non-current:</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom">Related parties</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: middle; text-align: center; background-color: white">31.c</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;526</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;133</TD></TR>
  <TR>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: left">Current:</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; text-align: left">Assigned assets and in custody <FONT STYLE="font-family: Arial, sans-serif; font-size: 9pt; font-style: normal; font-weight: 400">(1)</FONT></TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: left">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;5,911</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;9,711</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; text-align: left">Judicial deposits</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: left">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;1,791</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;1,594</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif">Security deposits</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;546</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;552</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif">Prepaid expenses</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;2,270</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;4,168</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif">Advances to suppliers</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;8,917</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;5,079</TD></TR>
  <TR>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom">Tax credits</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;23</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;14,135</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif">Debtors for complementary activities</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;21,766</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;26,305</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="font-family: Arial, sans-serif; text-align: left">Other</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;731</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;24</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font-family: Arial, sans-serif; text-align: left">Allowance for the impairment of other receivables</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: left">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;(535)</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;(56)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; text-align: left">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: left">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: left">Total current</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;41,420</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;61,512</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-align: center">&nbsp;<B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.55pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">As of March 31, 2025 and December
31, 2024, relate to Securities issued by private companies for NV 5,000,000 and NV 8,000,000, respectively, assigned to Global Valores
S.A. The Company retains the risks and rewards of the aforementioned assets and may make use of them at any time, at its own request.</FONT></TD></TR></TABLE>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 117pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The value of the Company&rsquo;s
other financial receivables approximates their fair value.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The non-current other receivables
are measured at amortized cost, which does not differ significantly from their fair value.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 35.45pt">&nbsp;</P>


<!-- Field: Page; Sequence: 28 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence -->&nbsp;</FONT></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%"><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>CONDENSED INTERIM CONSOLIDATED</B></FONT></P><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>FINANCIAL STATEMENTS </B></FONT></P><P STYLE="text-align: right; margin: 0; font: 9pt/115% Verdana, Helvetica, Sans-Serif; color: #A6A6A6"><FONT STYLE="letter-spacing: 2pt">NOTES</FONT></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 35.45pt">The roll forward of the allowance for the impairment
of other receivables is as follows:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 35.45pt">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: top; width: 54%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; width: 12%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; width: 16%">&nbsp;03.31.25&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; width: 16%">&nbsp;03.31.24&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Balance at beginning of the year</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;56</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;&nbsp;139</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Increase</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;&nbsp;483</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;98</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Result from exposure to inflation</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;(4)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;&nbsp;(72)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Balance at end of the period</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;535</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;165</TD></TR>
  </TABLE>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 49.65pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 49.65pt; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>Note</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>17 |</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #0070C0">
</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Trade receivables</FONT></B></TD></TR></TABLE>

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

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; width: 54%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 12%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 16%">&nbsp;03.31.25&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 16%">&nbsp;12.31.24&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">Current:</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Sales of electricity &ndash; Billed&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;221,967</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;178,191</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Receivables in litigation</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;697</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;495</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Allowance for the impairment of trade receivables</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;(16,142)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;(12,339)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Subtotal</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;&nbsp;206,522</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;&nbsp;166,347</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Sales of electricity &ndash; Unbilled</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;232,568</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;223,815</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">PBA &amp; CABA government credit</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">8,014</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3,255</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Fee payable for the expansion of the transportation and others</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">Total current</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;447,106</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;393,419</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 14.2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The value of the Company&rsquo;s
trade receivables approximates their fair value.</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 35.45pt">The roll forward of the allowance for the impairment
of trade receivables is as follows:</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 35.45pt">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: top; width: 54%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; width: 12%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; width: 16%">&nbsp;03.31.25&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; width: 16%">&nbsp;03.31.24&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Balance at beginning of the year</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;12,339</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;14,756</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Increase</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">5,841</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;&nbsp;590</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Decrease</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">(995)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">(168)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Result from exposure to inflation</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;(1,043)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;(5,183)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Balance at end of the period</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;16,142</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">9,995</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 28.35pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 28.35pt; text-align: center"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 49.65pt; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>Note</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>18 |</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #0070C0">
</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Financial assets at amortized cost</FONT></B></TD></TR></TABLE>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B></B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify; width: 54%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; width: 12%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 16%">&nbsp;03.31.25&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 16%">&nbsp;12.31.24&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Negotiable instruments</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;426</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-bottom: Black 2pt double; text-align: right">&nbsp;11,073</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>Note</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>19 |</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #0070C0">
</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Financial assets at fair value through profit or loss</FONT></B></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: #76923C"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #76923C"><B>&nbsp;</B></FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify; width: 54%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; width: 12%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 16%">&nbsp;03.31.25&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 16%">&nbsp;12.31.24&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Negotiable instruments</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;53,933</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;124,305</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Mutual funds&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;&nbsp;307,496</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;&nbsp;270,182</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Total Financial assets at fair value through profit or loss</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;361,429</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;394,487</TD></TR>
  </TABLE>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #76923C"><B>&nbsp;</B></FONT>&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: center; color: #76923C"><B>&nbsp;</B></P>



<!-- Field: Page; Sequence: 29 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence -->&nbsp;</FONT></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%"><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>CONDENSED INTERIM CONSOLIDATED</B></FONT></P><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>FINANCIAL STATEMENTS </B></FONT></P><P STYLE="text-align: right; margin: 0; font: 9pt/115% Verdana, Helvetica, Sans-Serif; color: #A6A6A6"><FONT STYLE="letter-spacing: 2pt">NOTES</FONT></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; color: #0070C0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Note</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>20
                                            |</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
                                            </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Cash
                                            and cash equivalents</FONT></B></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 71.45pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B></B></FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; font-weight: bold; width: 49%">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 16%">&nbsp;03.31.25&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 16%">&nbsp;12.31.24&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 16%">&nbsp;03.31.24&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Cash and banks</TD>
    <TD STYLE="font-weight: bold; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">5,898</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;21,912</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">4,849</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Time deposits</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">3,592</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">3,570</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Mutual funds&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">1,058</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;&nbsp;487</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;34,456</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Total cash and cash equivalents</TD>
    <TD STYLE="font-weight: bold; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;10,548</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;25,969</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;39,305</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 7.05pt 0 14.2pt; text-align: center; color: #76923C"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The reconciliation of the balances
of cash and cash equivalents that are disclosed in the Statement of Cash Flows in accordance with the provisions of IAS 7 is as follows:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 7.05pt 0 0; text-align: justify; text-indent: 21.3pt"></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 7.05pt 0 0; text-align: justify; text-indent: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #76923C"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 7.05pt 0 0; text-align: justify; text-indent: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #76923C"><B></B></FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; font-weight: bold; width: 49%">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 16%">&nbsp;03.31.25&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 16%">&nbsp;12.31.24&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 16%">&nbsp;03.31.24&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Balances as above</TD>
    <TD STYLE="font-weight: bold; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;10,548</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;25,969</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;39,305</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Bank overdrafts (Note 25)</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;&nbsp;(19,110)</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;&nbsp;(60,223)</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;-</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Balances per statement of cash flows</TD>
    <TD STYLE="font-weight: bold; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;(8,562)</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;(34,254)</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;39,305</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 7.05pt 0 0; text-align: justify; text-indent: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #76923C"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 7.05pt 0 0; text-align: justify; text-indent: 14.2pt; color: #76923C"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 7.05pt 0 0; text-align: justify; color: #76923C"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>Note</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>21 |</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #0070C0">
</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Share capital and additional paid-in capital</FONT></B></TD></TR></TABLE>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 49.6pt; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: top; width: 49%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center; width: 16%">&nbsp;Share capital&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center; width: 16%"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;Additional</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">paid-in capital&nbsp;</P></TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center; width: 16%">&nbsp;Total&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left">Balance at December 31, 2024</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">824,277</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;&nbsp;11,148</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">835,425</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Payment of Other reserve constitution - Share-based compensation plan&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: right; border-top-color: Black; border-top-width: 0.5pt">&nbsp;&nbsp;-</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">&nbsp;&nbsp;65</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;&nbsp;65</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Balance at December 31, 2024 and at March 31, 2025</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 2pt double; text-align: right">824,277</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;11,213</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 2pt double; text-align: right">835,490</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 6pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">As of March 31, 2025, the Company&rsquo;s
share capital amounts to 906,455,100 shares, divided into 462,292,111 common, book-entry Class A shares with a par value of one peso each
and the right to one vote per share, 442,566,330 common, book-entry Class B shares with a par value of one peso each and the right to
one vote per share, and 1,596,659 common, book-entry Class C shares with a par value of one peso each and the right to one vote per share.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>Note</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>22 |</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #0070C0">
</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Allocation of profits</FONT></B></TD></TR></TABLE>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The restrictions on the distribution
of dividends by the Company are those provided for by the Business Organizations Law and by the negative covenants established by the
Corporate Notes program.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">If the Company&rsquo;s Debt Ratio
were higher than 3.75, the negative covenants set out in the Corporate Notes program, which establish, among other issues, the Company&rsquo;s
impossibility to make certain payments, such as dividends, would apply.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">Additionally, in accordance with
Title IV, Chapter III, section 3.11.c of the CNV, the amounts subject to distribution will be restricted to the amount equivalent to the
acquisition cost of the Company&rsquo;s own shares.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>



<!-- Field: Page; Sequence: 30 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence -->&nbsp;</FONT></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%"><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>CONDENSED INTERIM CONSOLIDATED</B></FONT></P><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>FINANCIAL STATEMENTS </B></FONT></P><P STYLE="text-align: right; margin: 0; font: 9pt/115% Verdana, Helvetica, Sans-Serif; color: #A6A6A6"><FONT STYLE="letter-spacing: 2pt">NOTES</FONT></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; color: #0070C0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Note</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>23
                                            |</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
                                            </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Trade
                                            payables</FONT></B></TD></TR></TABLE>

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

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left; width: 54%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center; width: 12%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 16%">&nbsp;03.31.25&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 16%">&nbsp;12.31.24&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">Non-current</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Customer guarantees</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">3,046</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">2,801</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Customer contributions</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;242</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;260</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">Total non-current</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">3,288</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">3,061</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">Current</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="height: 17px; vertical-align: bottom">Payables for purchase of electricity - CAMMESA <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400">(1)</FONT></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;620,195</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
  <TD STYLE="text-align: right">&nbsp;&nbsp;504,244</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Provision for unbilled electricity purchases - CAMMESA</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;148,856</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;144,279</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Suppliers</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;128,591</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;161,338</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Related parties&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;31.c&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;10,806</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;10,424</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Advance to customer&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">4,246</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">3,421</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Customer contributions</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;38</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;43</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Discounts to customers</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;-</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;42</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">Total current</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;912,732</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;823,791</TD></TR>
  </TABLE>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%"></FONT></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0 28.3pt 0 35.45pt; text-align: justify">(1) As of March 31, 2025 and December
31, 2024, includes $ 156,447 and $ 57,798 relating to post-dated checks issued by the Company in favor of CAMMESA, respectively.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The value of the financial liabilities
included in the Company&rsquo;s trade payables approximates their fair value.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>Note</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>24 |</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #0070C0">
</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Other payables</FONT></B></TD></TR></TABLE>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 7.1pt">&nbsp;</P>


<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: top; width: 55%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; font-family: Arial, sans-serif; vertical-align: bottom; text-align: center; width: 7%">Note</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: top; text-align: justify; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; font-family: Arial, sans-serif; vertical-align: top; text-align: center; width: 18%">&nbsp;03.31.25&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: top; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; font-family: Arial, sans-serif; vertical-align: top; text-align: center; width: 18%">&nbsp;12.31.24&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif">Non-current</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: top">Payment plan - CAMMESA</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: top; text-align: center; background-color: white">2.b</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;183,322</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;196,503</TD></TR>
  <TR>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: top">ENRE penalties and discounts</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: top; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;1,931</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;1,809</TD></TR>
  <TR>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: top">Financial Lease Liability(1)</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;4,253</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;5,439</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: bottom">Total Non-current</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;189,506</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;203,751</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: bottom">Current</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom">Payment plan - CAMMESA</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: top; text-align: center">2.b</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;43,760</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;52,206</TD></TR>
  <TR>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: top">ENRE penalties and discounts</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;64,701</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;65,640</TD></TR>
  <TR>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom">Related parties</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: top; text-align: center; background-color: white">31.c</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;58</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;223</TD></TR>
  <TR>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: top">Advances for works to be performed</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;13</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;14</TD></TR>
  <TR>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom">Financial Lease Liability&nbsp;(1)</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;3,518</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;4,209</TD></TR>
  <TR>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: top">Other</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;7</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: bottom">Total Current</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;112,050</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;122,299</TD></TR>
  </TABLE>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"></P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The fair values of the payment
plan with CAMMESA, adjusted in accordance with the development of the MWh value (Note 2.b) as of March 31, 2025 and December 31, 2024
amount to $122,422 and $142,758, respectively. Such values have been determined on the basis of the MWh monomic price published by CAMMESA
at the end of each period. The applicable fair value category is Level 2.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The value of the rest of the
financial liabilities included in the Company&rsquo;s other payables approximates their fair value.&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>


<!-- Field: Page; Sequence: 31 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->30<!-- Field: /Sequence -->&nbsp;</FONT></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%"><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>CONDENSED INTERIM CONSOLIDATED</B></FONT></P><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>FINANCIAL STATEMENTS </B></FONT></P><P STYLE="text-align: right; margin: 0; font: 9pt/115% Verdana, Helvetica, Sans-Serif; color: #A6A6A6"><FONT STYLE="letter-spacing: 2pt">NOTES</FONT></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The development of the finance
lease liability is as follows:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="width: 59%">&nbsp;</TD>
    <TD STYLE="width: 20%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 19%">&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center">&nbsp;03.31.25&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center">&nbsp;03.31.24&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Balance at beginning of the year</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right; background-color: white">&nbsp;9,648</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right; background-color: white">&nbsp;&nbsp;6,886</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: middle; text-align: left">Increase</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;3,091</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">Payments</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;(2,614)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(3,758)</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">Exchange difference</TD>
    <TD STYLE="vertical-align: middle; text-align: right">424</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;713</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">Interest</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;1,075</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;1,653</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">Result from exposure to inlfation</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;(762)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(936)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Balance at end of the period</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;7,771</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">&nbsp;&nbsp;7,649</TD></TR>
  </TABLE>
<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt 14.2pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%"><B>&nbsp;</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>Note</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>25 |</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #0070C0">
</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Borrowings</FONT></B></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 49.65pt; text-align: justify"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-align: center; width: 59%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 20%">&nbsp;03.31.25&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 19%">&nbsp;12.31.24&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">Non-current</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Corporate notes (1)</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;370,944</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;385,360</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">Current</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Corporate notes (1)</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;25,405</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;53,779</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Interest from corporate notes</TD>
    <TD STYLE="text-align: right">&nbsp;12,429</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">8,171</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Bank overdrafts (2)</TD>
    <TD STYLE="text-align: right">&nbsp;19,110</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;60,223</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Financial loans (3)</TD>
    <TD STYLE="text-align: right">&nbsp;17,678</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;-</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">Total current</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;74,622</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;122,173</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B></B></FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net of debt issuance, repurchase
and redemption expenses.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 56.7pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">The Company&rsquo;s overdrafts
are as follow:</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 56.7pt; text-indent: 460.7pt; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; width: 38%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 12%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 18%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 16%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 16%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center">&nbsp;Bank&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center">&nbsp;Anual rate&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center">&nbsp;Currency&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center">&nbsp;Bank overdraft at 03/31/2025&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center">&nbsp;Bank overdraft at 12/31/2024&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;Macro&nbsp;</TD>
    <TD STYLE="text-align: center">35%</TD>
    <TD STYLE="text-align: center">ARS</TD>
    <TD STYLE="text-align: right">9,998</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;10,804</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;Credicoop&nbsp;</TD>
    <TD STYLE="text-align: center">36%</TD>
    <TD STYLE="text-align: center">ARS</TD>
    <TD STYLE="text-align: right">9,112</TD>
    <TD STYLE="text-align: right">5,450</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;ICBC&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;&nbsp;-</TD>
    <TD STYLE="text-align: center">ARS</TD>
    <TD STYLE="text-align: center">&nbsp;&nbsp;-</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;23,164</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;Provincia&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;&nbsp;-</TD>
    <TD STYLE="text-align: center">ARS</TD>
    <TD STYLE="text-align: center">&nbsp;&nbsp;-</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;10,860</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;Supervielle&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;&nbsp;-</TD>
    <TD STYLE="text-align: center">ARS</TD>
    <TD STYLE="text-align: center">&nbsp;&nbsp;-</TD>
    <TD STYLE="text-align: right">6,145</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;Mariva&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;&nbsp;-</TD>
    <TD STYLE="text-align: center">ARS</TD>
    <TD STYLE="text-align: center">&nbsp;&nbsp;-</TD>
    <TD STYLE="text-align: right">3,800</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left">&nbsp;Total&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;19,110</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;60,223</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 56.7pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 56.7pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">(3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">90-day maturity bank loans taken
with Banco Provincia and Banco Ciudad banks for $ 10,000 and $ 7,500, respectively, plus interest.</FONT></TD></TR></TABLE>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The fair values of the Company&rsquo;s
Corporate Notes as of March 31, 2025 and December 31, 2024 amount approximately to $ 439,526 and $ 488,219 respectively. Such values have
been determined on the basis of the estimated market price of the Company&rsquo;s Corporate Notes at the end of the period/year. The applicable
fair value category is Level 1.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">On March 7, 2025, the Company
fully canceled its Class No. 4 Corporate Notes, for a total of $ 24,398.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The Company is subject to covenants
that limit its ability to incur indebtedness pursuant to the terms and conditions of Classes Nos. 1, 3, 5, 6 and 7 Corporate Notes, which
indicate that the Company may not incur new Indebtedness, except for certain Permitted Indebtedness or when the Debt ratio is not greater
than 3.75 or less than zero and the Interest Expense Coverage ratio is less than 2. As of March 31, 2025, the values of the aforementioned
ratios meet the established parameters.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>


<!-- Field: Page; Sequence: 32 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->31<!-- Field: /Sequence -->&nbsp;</FONT></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%"><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>CONDENSED INTERIM CONSOLIDATED</B></FONT></P><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>FINANCIAL STATEMENTS </B></FONT></P><P STYLE="text-align: right; margin: 0; font: 9pt/115% Verdana, Helvetica, Sans-Serif; color: #A6A6A6"><FONT STYLE="letter-spacing: 2pt">NOTES</FONT></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">Based on the above, the Company&rsquo;s
Corporate Note debt structure is comprised of as follows:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; border-bottom: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; border-bottom: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="5" STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;in
    USD&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;in
    millions of $&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; width: 29%"><FONT STYLE="font-size: 7pt">&nbsp;Corporate
    Notes&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; width: 7%"><FONT STYLE="font-size: 7pt">&nbsp;Class&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; width: 9%"><FONT STYLE="font-size: 7pt">Financial
    debt at 12/31/2024</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; width: 9%"><FONT STYLE="font-size: 7pt">Exchange</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; width: 9%"><FONT STYLE="font-size: 7pt">Issue</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; width: 9%"><FONT STYLE="font-size: 7pt">Payment</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; width: 9%"><FONT STYLE="font-size: 7pt">Financial
    debt at 03/31/2025</FONT></TD>
    <TD STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; width: 9%"><FONT STYLE="font-size: 7pt">Financial
    debt at 12/31/2024</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; width: 9%"><FONT STYLE="font-size: 7pt">Financial
    debt at 03/31/2025</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;Floating rate - Maturity 2025 (*)&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">4</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;24,301,486</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">(24,301,486)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;27,775</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;Fixed rate - Maturity 2025&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">1</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">8,218,667</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">8,218,667</FONT></TD>
    <TD STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">9,307</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">9,045</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;Floating rate - Maturity 2025 (*)&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">6</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;16,776,504</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;16,776,504</FONT></TD>
    <TD STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;18,662</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;17,532</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;Fixed rate - Maturity 2026&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">3</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;95,762,688</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;95,762,688</FONT></TD>
    <TD STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">106,612</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">103,703</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;Fixed rate - Maturity 2028&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">5</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;81,920,187</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;81,920,187</FONT></TD>
    <TD STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;89,244</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;86,910</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;Fixed rate - Maturity 2028/29/30&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">7</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;179,947,186</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;179,947,186</FONT></TD>
    <TD STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">195,710</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">191,588</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;Total&nbsp;</FONT></TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;406,926,718</FONT></TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 7pt">(24,301,486)</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;382,625,232</FONT></TD>
    <TD STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 7pt">447,310</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 7pt">408,778</FONT></TD></TR>
  </TABLE>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; border-bottom: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; border-bottom: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="5" STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;in
    USD&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;in
    millions of $&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; width: 29%"><FONT STYLE="font-size: 7pt">&nbsp;Corporate
    Notes&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; width: 7%"><FONT STYLE="font-size: 7pt">&nbsp;Class&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; width: 9%"><FONT STYLE="font-size: 7pt">Financial
    debt at 12/31/2023</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; width: 9%"><FONT STYLE="font-size: 7pt">Exchange</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; width: 9%"><FONT STYLE="font-size: 7pt">Issue</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; width: 9%"><FONT STYLE="font-size: 7pt">Payment</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; width: 9%"><FONT STYLE="font-size: 7pt">Financial
    debt at 12/31/2024</FONT></TD>
    <TD STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; width: 9%"><FONT STYLE="font-size: 7pt">Financial
    debt at 12/31/2023</FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; width: 9%"><FONT STYLE="font-size: 7pt">Financial
    debt at 12/31/2024</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;Fixed rate - Maturity 2024&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">2</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;60,945,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;(39,700,207)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">(21,244,793)</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">117,868</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;Floating rate - Maturity 2025 (*)&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">4</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;24,301,486</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;24,301,486</FONT></TD>
    <TD STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;27,775</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;Fixed rate - Maturity 2025&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">1</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;55,244,538</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;(47,025,871)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">8,218,667</FONT></TD>
    <TD STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">106,082</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">9,307</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;Floating rate - Maturity 2025 (*)&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">6</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;16,776,504</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;16,776,504</FONT></TD>
    <TD STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;18,662</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;Fixed rate - Maturity 2026&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">3</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;34,157,571</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;61,605,117</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;95,762,688</FONT></TD>
    <TD STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">106,612</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;Fixed rate - Maturity 2028&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">5</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;6,881,682</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;75,038,505</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;81,920,187</FONT></TD>
    <TD STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;89,244</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;Fixed rate - Maturity 2028/29/30&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">7</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;48,789,286</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">131,157,900</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;179,947,186</FONT></TD>
    <TD STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">195,710</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;Total&nbsp;</FONT></TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;116,189,538</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;3,102,461</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 7pt">308,879,512</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 7pt">(21,244,793)</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;406,926,718</FONT></TD>
    <TD STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 7pt">223,950</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 7pt">447,310</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 14.2pt">&nbsp;</P>

<P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 14.2pt">(*) Issuance in ARS, translated
into USD at the exchange rate detailed in Note 5.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The maturities of the Company&rsquo;s
borrowings and their exposure to interest rates are as follow:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-align: justify; width: 59%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: justify; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 19%">&nbsp;03.31.25&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 19%">&nbsp;12.31.24&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-align: justify">Fixed rate</TD>
    <TD STYLE="font-weight: bold; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Less than 1 year</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;39,412</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;75,736</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">From 1 to 2 years</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;92,446</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;&nbsp;106,612</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">From 2 to 5 years</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;&nbsp;278,498</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;&nbsp;278,748</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Total fixed rate</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;410,356</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;461,096</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Floating rate</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Less than 1 year</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;35,210</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;46,437</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Total floating rate</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;35,210</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;46,437</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The Company&rsquo;s borrowings
are denominated in the following currencies:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-align: justify; width: 59%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: justify; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 19%">&nbsp;03.31.25&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 19%">&nbsp;12.31.24&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Argentine peso</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;54,320</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;&nbsp;108,623</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">US dollars</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;&nbsp;391,246</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;&nbsp;398,910</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Total Borrowings</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;445,566</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;507,533</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>Note</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>26 |</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #0070C0">
</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Deferred revenue</FONT></B></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 59%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 19%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 19%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center">&nbsp;03.31.25&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center">&nbsp;12.31.24&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Non-current</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Nonrefundable customer contributions</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;25,308</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;24,320</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Investment plan - Agreement on the<BR>
Regularization of Obligations (1)</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;90,746</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;93,076</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Total Non-current</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;116,054</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;117,396</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">Current</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Nonrefundable customer contributions</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;592</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;113</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 10.35pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">As of March 31, 2025 and December
31, 2024, includes $ 79,679 and $ 82,083 relating to the investment plan of the Agreement on the Regularization of Payment Obligations
entered into in May 2019, and $ 11,067 and $ 10,993 relating to the investment plan of the Agreement on the Regularization of Payment
Obligations entered into in December 2022, respectively. </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">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->32<!-- Field: /Sequence -->&nbsp;</FONT></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%"><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>CONDENSED INTERIM CONSOLIDATED</B></FONT></P><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>FINANCIAL STATEMENTS </B></FONT></P><P STYLE="text-align: right; margin: 0; font: 9pt/115% Verdana, Helvetica, Sans-Serif; color: #A6A6A6"><FONT STYLE="letter-spacing: 2pt">NOTES</FONT></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; color: #0070C0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Note</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>27
                                            |</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
                                            </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Salaries
                                            and social security taxes payable</FONT></B></TD></TR></TABLE>

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

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

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; width: 59%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 19%">&nbsp;03.31.25&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 19%">&nbsp;12.31.24&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">Non-current</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Seniority-based bonus</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-bottom: Black 2pt double; text-align: right">7,197</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-bottom: Black 2pt double; text-align: right">6,759</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">Current</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Salaries payable and provisions</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;23,991</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;46,925</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Social security payable</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;22,669</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;19,976</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Early retirements payable</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;&nbsp;321</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;&nbsp;314</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">Total current</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;46,981</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;67,215</TD></TR>
  </TABLE>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The value of the Company&rsquo;s
salaries and social security taxes payable approximates their fair value.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>Note</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>28 |</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #0070C0">
</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Income tax and deferred tax</FONT></B></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The breakdown of income tax,
determined in accordance with the provisions of IAS 12 is as follows:</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 28.35pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"></FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="width: 59%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 19%">03.31.25</TD>
    <TD STYLE="text-align: right; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 19%">03.31.24</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Deferred tax</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;16,983</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">136,557</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Current tax</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(16,688)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Difference between provision and tax return</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(332)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Income tax (expense) benefit</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(37)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">136,557</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 28.35pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The detail of the income tax
(expense) benefit for the period includes two effects: (i) the current tax for the period payable in accordance with the tax legislation
applicable to the Company; and (ii) the effect of applying the deferred tax method on the temporary differences arising from the valuation
of assets and liabilities for accounting and tax purposes.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 35.45pt">The breakdown of deferred tax assets and liabilities
is as follows:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 35.45pt">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 59%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 20%">03.31.25</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 20%">12.31.24</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Deferred tax assets</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Tax loss carry forward</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">15,959</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Trade receivables and other receivables</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">6,690</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">5,006</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Salaries and social security payable and Benefit plans</TD>
    <TD STYLE="vertical-align: middle; text-align: right">7,777</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">7,484</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Tax liabilities</TD>
    <TD STYLE="text-align: right">1,165</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">209</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Provisions</TD>
    <TD STYLE="text-align: right">12,211</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">11,283</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Deferred tax asset</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">27,843</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">39,941</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Deferred tax liabilities</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Property, plants and equipments</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(673,047)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(681,019)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Financial assets at fair value through profit or loss</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(37,324)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(36,475)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Trade payables and other payables</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(10,580)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(17,129)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Borrowings</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(4,979)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(5,738)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Adjustment effect on tax inflation</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(31,989)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(46,307)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Deferred tax liability</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(757,919)</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(786,668)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Net deferred tax liability</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(730,076)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(746,727)</TD></TR>
  </TABLE>

<P STYLE="font: 6pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 6pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 35.45pt">&nbsp;</P>


<!-- Field: Page; Sequence: 34 -->
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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: center; width: 100%"><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>CONDENSED INTERIM CONSOLIDATED</B></FONT></P><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>FINANCIAL STATEMENTS </B></FONT></P><P STYLE="text-align: right; margin: 0; font: 9pt/115% Verdana, Helvetica, Sans-Serif; color: #A6A6A6"><FONT STYLE="letter-spacing: 2pt">NOTES</FONT></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">Based on the guidelines provided
for in IFRIC 23 &ldquo;Uncertainty over income tax treatments&rdquo;, the Company has restated for inflation the cumulative tax losses
and fixed assets depreciation, using the wholesale price index, general level (IPIM) and the consumer price index, general level (IPC),
respectively. This criterion has been adopted taking into consideration that the effective income tax rate shows a confiscatory result,
in line with the Supreme Court of Justice of Argentina&rsquo;s decision rendered in the case entitled &ldquo;Telef&oacute;nica de Argentina
SA and Other vs/EN-AFIP-DGI, General Tax Bureau&rdquo; on October 25, 2022.</P>

<P STYLE="font: 6pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The reconciliation between the
income tax benefit (expense) recognized in profit or loss and the amount that would result from applying the applicable tax rate to the
accounting income (loss) before taxes, is as follows:</P>

<P STYLE="font: 4pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 59%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; background-color: white; width: 20%">03.31.25</TD>
    <TD STYLE="text-align: right; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; background-color: white; width: 20%">03.31.24</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">Income (loss) for the period before taxes</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">35,948</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(23,015)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Applicable tax rate</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">35%</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; background-color: white">35%</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">Result for the period at the tax rate</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(12,582)</TD>
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">8,055</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Gain on net monetary position</TD>
    <TD STYLE="text-align: right">35,616</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">161,055</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Adjustment effect on tax inflation</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(22,591)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(32,561)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Non-taxable income&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(148)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">8</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Difference between provision and tax return</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(332)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Income tax (expense) benefit</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">(37)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">136,557</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt">The income tax payable, net of withholdings is as follows:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; width: 59%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 20%">&nbsp;03.31.25&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 20%">&nbsp;12.31.24&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">Non-current</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Tax payable</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;16,688</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Tax withholdings</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;&nbsp;(15,860)</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">Total non-current</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;828</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;-</TD></TR>
  </TABLE>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>Note</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>29 |</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #0070C0">
</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Tax liabilities</FONT></B></TD></TR></TABLE>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-align: center"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%">&nbsp;</FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #333399; width: 59%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 20%">03.31.25</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 20%">12.31.24</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">Non-current</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">Current</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Provincial, municipal and federal contributions and taxes</TD>
    <TD STYLE="text-align: right">&nbsp;14,535</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;11,419</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>VAT payable</TD>
    <TD STYLE="text-align: right">&nbsp;27,615</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;10,660</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Tax withholdings</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">7,885</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;11,173</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">SUSS withholdings</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;373</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;&nbsp;563</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Municipal taxes</TD>
    <TD STYLE="text-align: right">3,391</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">3,408</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">Total current</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;53,799</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;37,223</TD></TR>
  </TABLE>
<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-align: center"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%"></FONT></P>

<P STYLE="font: 6pt/115% Verdana, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-align: center">&nbsp;</P>

<P STYLE="font: 6pt/115% Verdana, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>Note</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>30 |</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #0070C0">
</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Provisions</FONT></B></TD></TR></TABLE>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 49.6pt; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic; text-decoration: underline; text-align: left; width: 59%">Included in non-current liabilities</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 20%">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 20%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center">For contingencies</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">03.31.25</TD>
    <TD STYLE="color: #31869B; font: 9pt Verdana, Helvetica, Sans-Serif; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">03.31.24</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">Balance at the beggining of the year</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">23,345</TD>
    <TD STYLE="color: #31869B; font: 9pt Verdana, Helvetica, Sans-Serif; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">23,313</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Increases</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3,822</TD>
    <TD STYLE="color: #31869B; font: 9pt Verdana, Helvetica, Sans-Serif; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,790</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Result from exposure to inflation for the period</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,858)</TD>
    <TD STYLE="color: #31869B; font: 9pt Verdana, Helvetica, Sans-Serif; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(8,040)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">Balance at the end of the period</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;25,309</TD>
    <TD STYLE="color: #31869B; font: 9pt Verdana, Helvetica, Sans-Serif; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;17,063</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #31869B; font: 9pt Verdana, Helvetica, Sans-Serif; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic; text-decoration: underline">Included in current liabilities</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center">For contingencies</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">03.31.25</TD>
    <TD STYLE="color: #31869B; font: 9pt Verdana, Helvetica, Sans-Serif; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">03.31.24</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">Balance at the beggining of the year</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">8,786</TD>
    <TD STYLE="color: #31869B; font: bold 9pt Verdana, Helvetica, Sans-Serif; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">6,783</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Increases</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2,151</TD>
    <TD STYLE="color: #31869B; font: 9pt Verdana, Helvetica, Sans-Serif; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,236</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Decreases</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(758)</TD>
    <TD STYLE="color: #31869B; font: 9pt Verdana, Helvetica, Sans-Serif; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(951)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Result from exposure to inflation for the period</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(699)</TD>
    <TD STYLE="color: #31869B; font: 9pt Verdana, Helvetica, Sans-Serif; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2,336)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">Balance at the end of the period</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">9,480</TD>
    <TD STYLE="color: #31869B; font: 9pt Verdana, Helvetica, Sans-Serif; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">4,732</TD></TR>
  </TABLE>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>


<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B></B></FONT></P>



<!-- Field: Page; Sequence: 35 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->34<!-- Field: /Sequence -->&nbsp;</FONT></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%"><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>CONDENSED INTERIM CONSOLIDATED</B></FONT></P><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>FINANCIAL STATEMENTS </B></FONT></P><P STYLE="text-align: right; margin: 0; font: 9pt/115% Verdana, Helvetica, Sans-Serif; color: #A6A6A6"><FONT STYLE="letter-spacing: 2pt">NOTES</FONT></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>Note</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0070C0"><B>31 |</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #0070C0">
</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Related-party transactions</FONT></B></TD></TR></TABLE>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 49.6pt; text-align: justify"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The following transactions were
carried out with related parties:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 49.65pt"></TD><TD STYLE="width: 28.35pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt"><B>a.</B></FONT></TD><TD><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt">Expense</FONT></TD></TR></TABLE>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0 21.2pt 0 0; text-align: center; text-indent: 42.55pt">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center; width: 29%">Company</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center; width: 38%">Concept</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 15%">03.31.25</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 15%">03.31.24</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">EDELCOS S.A.</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">Technical advisory services on financial matters</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(14,100)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;(6,568)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>SACME</TD>
    <TD>&nbsp;</TD>
    <TD>Operation and oversight of the electric power transmission system</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;(990)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;(713)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Andina PLC</TD>
    <TD>&nbsp;</TD>
    <TD>Financial interest</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(22)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Grieco Maria Teresa</TD>
    <TD>&nbsp;</TD>
    <TD>Legal fees</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;(2)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(15,090)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;(7,305)</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 21.2pt 0 0; text-align: center; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 49.65pt"></TD><TD STYLE="width: 28.35pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>b.</B></FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Key Management personnel&rsquo;s remuneration </FONT></TD></TR></TABLE>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 78pt">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 59%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 20%">03.31.25</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 20%">03.31.24</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Salaries&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 2pt double; text-align: right">&nbsp;6,911</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 2pt double; text-align: right">6,094</TD></TR>
  </TABLE>
<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 21.2pt 10pt 219.75pt; text-align: center; text-indent: -177.2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The balances with related parties
are as follow:</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 56.75pt"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>c.</B></FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Receivables and payables</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 21.25pt 0 49.65pt; text-align: center; text-indent: -7.1pt">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; width: 57%">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; border-bottom: Black 0.5pt solid; text-align: center; width: 19%">03.31.25</TD>
    <TD STYLE="font-family: Arial, sans-serif; width: 3%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; border-bottom: Black 0.5pt solid; text-align: center; width: 19%">12.31.24</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic; text-decoration: underline; font-family: Arial, sans-serif">Other receivables - Non current</TD>
    <TD STYLE="font-family: Arial, sans-serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: white; font-family: Arial, sans-serif">CTG</TD>
    <TD STYLE="font-family: Arial, sans-serif">&nbsp;</TD>
    <TD STYLE="color: white; font-family: Arial, sans-serif; text-align: right">&nbsp;-</TD>
    <TD STYLE="font-family: Arial, sans-serif">&nbsp;</TD>
    <TD STYLE="color: white; font-family: Arial, sans-serif; text-align: right">&nbsp;-</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">SACME</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; border-bottom: Black 2pt double; text-align: right">&nbsp;526</TD>
    <TD STYLE="font-family: Arial, sans-serif">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; border-bottom: Black 2pt double; text-align: right">&nbsp;133</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic; text-decoration: underline; font-family: Arial, sans-serif; background-color: white">Trade payables</TD>
    <TD STYLE="font-family: Arial, sans-serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic; text-decoration: underline; font-family: Arial, sans-serif; background-color: white"><U>&nbsp;</U></TD>
    <TD STYLE="font-family: Arial, sans-serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-family: Arial, sans-serif; background-color: white">EDELCOS</TD>
    <TD STYLE="font-family: Arial, sans-serif">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; border-bottom: Black 2pt double; text-align: right">(10,806)</TD>
    <TD STYLE="font-family: Arial, sans-serif">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; border-bottom: Black 2pt double; text-align: right">(10,424)</TD></TR>
  <TR>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic; text-decoration: underline; font-family: Arial, sans-serif">Other payables</TD>
    <TD STYLE="font-family: Arial, sans-serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, sans-serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Arial, sans-serif">SACME</TD>
    <TD STYLE="font-family: Arial, sans-serif">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; border-bottom: Black 2pt double; text-align: right">(58)</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-family: Arial, sans-serif; border-bottom: Black 2pt double; text-align: right">(223)</TD></TR>
  </TABLE>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 21.25pt 0 49.65pt; text-align: center">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 56.7pt"><FONT STYLE="color: #0070C0"><B>Note</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: #0070C0"><B>32 |</B></FONT><B> Shareholders&rsquo; Meeting</B></TD></TR></TABLE>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The Company&rsquo;s Annual General
Meeting held on April 28, 2025 resolved, among other issues, the following:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 49.6pt"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">To approve the Company&rsquo;s
Annual Report and Financial Statements as of December 31, 2024.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 49.6pt"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">To allocate the $ 272,128 profit
for the year ended December 31, 2024 (which at the purchasing power of the currency at March 31, 2025 amounts to $ 295,447) as follows:
$18,040 to the absorption of Accumulated losses, $13,606 to the setting up of the Statutory Reserve, and $240,482 to the setting up of
the Discretionary Reserve (which at the purchasing power of the currency at March 31, 2025 amount to $19,586, $14,772 and $261,089, respectively),
in accordance with the terms of section 70, 3rd paragraph, of Business Organizations Law No. 19,550.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 49.6pt"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">To approve the actions taken
by the Directors and Supervisory Committee members, together with their respective remunerations.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 49.6pt"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">To appoint Directors, Supervisory
Committee members and the external auditors for the current fiscal year.</FONT></TD></TR></TABLE>

<P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>



<!-- Field: Page; Sequence: 36 -->
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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: center; width: 100%"><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>CONDENSED INTERIM CONSOLIDATED</B></FONT></P><P STYLE="font: 9pt/115% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #174179"><FONT STYLE="letter-spacing: 2pt"><B>FINANCIAL STATEMENTS </B></FONT></P><P STYLE="text-align: right; margin: 0; font: 9pt/115% Verdana, Helvetica, Sans-Serif; color: #A6A6A6"><FONT STYLE="letter-spacing: 2pt">NOTES</FONT></P></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; color: #0070C0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 56.7pt"><B>Note</B></TD><TD STYLE="text-align: justify"><B>33 | <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Events
                                            after the reporting period</FONT></B></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 56.7pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">The following are the events
that occurred subsequent to March <FONT STYLE="color: windowtext">31, 2025: </FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Amendment to both the values
of the Company&rsquo;s electricity rate schedules and the scheduled date for the approval of the electricity rate schedules in the framework
of the RT &ndash; ENRE Resolution No. 224/2025, Note 2.a.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Approval of the rate of return
on assets &ndash; ENRE Resolution No. 237/2025, Note 2.a.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Approval of the Special System
for the Regularization of Payment Obligations by the Energy Under-secretariat, Note 2.b.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Approval of the loan with the
IMF and lifting of currency controls, Note 1.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Approval of the RT &ndash; ENRE
Resolution No. 304/2025, Note 2.a.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The Company&rsquo;s Annual General
Meeting, Note 32.</FONT></TD></TR></TABLE>

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

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="font: 8pt Times New Roman, Times, Serif; width: 30%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%; padding-right: 3.55pt; padding-left: 3.55pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>DANIEL MARX</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; font: 12pt Arial Unicode MS; padding: 5pt 3.55pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Chairman</B></FONT></TD></TR>
  </TABLE>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 2pt 0 10pt; background-color: white"><B><I><IMG SRC="image_002.jpg" ALT="">&nbsp;</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 2pt 0 10pt; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 2pt 0 10pt; background-color: white"><B><I>Report on review of interim financial
information</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 41.95pt 12pt 0">To the Shareholders, President and Directors of</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 2pt 0 10pt; background-color: white">Empresa Distribuidora y Comercializadora
Norte Sociedad An&oacute;nima (Edenor S.A.)</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 2pt 0 10pt; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 2pt 0 10pt; background-color: white"><B>Introduction</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 2pt 0 10pt; background-color: white">We have reviewed the accompanying condensed
consolidated interim statement of financial position of Empresa Distribuidora y Comercializadora Norte Sociedad An&oacute;nima (Edenor
S.A.) and its subsidiaries (the &lsquo;Group&rsquo;) as at March 31, 2025 and the related condensed consolidated interim statements of
comprehensive income, changes in equity and cash flows for the three-month period then ended and selected explanatory notes.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 2pt 0 10pt; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 2pt 0 10pt; background-color: white"><B>Responsibilities of the Board of Directors</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 2pt 0 10pt; background-color: white">The board of Directors is responsible
for the preparation and presentation of this condensed consolidated interim financial information in accordance with IFRS Accounting Standards
and is therefore responsible for the preparation and presentation of the condensed interim financial statements mentioned in the first
paragraph, in accordance with International Accounting Standard 34 (IAS 34).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 2pt 0 10pt; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 2pt 0 10pt; background-color: white"><B>Scope of review</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 2pt 0 10pt; background-color: white">We conducted our review in accordance
with International Standard on Review Engagements 2410, 'Review of interim financial information performed by the independent auditor
of the entity'. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial
and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted
in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware
of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.</P>


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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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 2pt 0 10pt; background-color: white">&nbsp;<IMG SRC="image_002.jpg" ALT=""></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 2pt 0 10pt; background-color: white"><B>Conclusion</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 2pt 0 10pt; background-color: white">Based on our review, nothing has come
to our attention that causes us to believe that the accompanying condensed consolidated interim financial information is not prepared,
in all material respects, in accordance with IAS 34.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 2pt 0 10pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 2pt 0 10pt; background-color: white"><B>Emphasis of Matter - Retroactive Restatement
of Previously Issued Condensed Interim Consolidated Financial Statements</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 2pt 0 10pt; background-color: white">Without modifying our conclusion, we emphasize
the information contained in Note 1 to the attached condensed interim consolidated financial statements, which describes the effects of
the retroactive restatement of the deferred tax liability generated by the Property, Plant, and Equipment item.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 2pt 0 10pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 41.95pt 0 0; text-align: justify">Autonomous City of Buenos Aires, May 9,
2025.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 30%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">PRICE WATERHOUSE &amp; CO. S.R.L.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: right">(Partner)</P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; width: 100%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Ra&uacute;l
    Leonardo Viglione &nbsp;</FONT></TD>
    </TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

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<P></P>

<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face="times new roman">SIGNATURES</FONT></B></P>

<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><STRONG><FONT size=2></FONT></STRONG>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><STRONG><FONT size=2></FONT></STRONG>&nbsp;</P>

<P></P>

<P></P>

<P style="BACKGROUND: white; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.75in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face="times new roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</FONT></P>

<P></P>

<P></P>

<P style="BACKGROUND: white; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 13.5pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT>&nbsp;</P>

<P></P>

<DIV align=center>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="48%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="52%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">Empresa Distribuidora y Comercializadora Norte S.A.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">By:</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;</FONT><U><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">/s/ Germ&aacute;n Ranftl</FONT></U></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">Germ&aacute;n Ranftl</FONT></P></TD></TR>

<TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">Chief Financial Officer</FONT></P></TD></TR></TABLE></DIV>

<P></P>

<P style="BACKGROUND: white; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 13.5pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT>&nbsp;</P>

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<P style="BACKGROUND: white; MARGIN: 0in 0in 0pt"><FONT STYLE="font-family: times new roman; font-size: 10pt; color: black; line-height: normal">Date:
May 12, 2025</FONT></P>

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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
