Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (EDN) Investor presentation summary

Business profile

• Argentina’s largest electricity distributor, serving 3.41m clients across a 4,637 km² concession area and operating a 42,916 km distribution network.

• 6M26 revenue was ARS 1,822,538m and EBITDA ARS 313,747m; market capitalization was US$1.07bn as of May 2026.

Tariff normalization and financial performance

• The 2025–2030 tariff review provides monthly CPI/WPI-linked adjustments plus 0.42% monthly above inflation in real terms; cumulative VAD growth reached 20% through June 2026 vs. 17% inflation.

• 6M26 revenue rose 5% YoY to ARS 1,822,538m, while distribution margin increased 7% to ARS 747,669m.

• 6M26 EBITDA was ARS 313.7bn, down 19% YoY including the prior-year ARS 224.7bn CAMMESA settlement gain; excluding that one-off, EBITDA increased 94%.

• Operating results reached ARS 190.7bn in 6M26, up 318% YoY; net results were ARS 157.1bn, down 10%.

• CAMMESA debt regularization is being repaid in 60/69 remaining monthly installments; a regulatory asset claim was filed and a draft congressional regularization framework submitted.

Operations and investment

• 2026 investment is expected at US$170–180m; 2013–2025 investment totaled about US$3.0bn, supporting grid modernization and smart-grid development.

• Network assets included 85 substations, 30,432 MVA of installed power, 3,422 telecontrol points and 384,845 smart meters as of Dec. 2025.

• Service indicators improved from 2021 to June 2026: SAIDI fell 48% and SAIFI fell 34%; June 2026 energy losses were 15.82% vs. a 20.1% peer level.

• Prepaid MIDE offers customers consumption management, free installation, 150 kWh of emergency credit and access to more than 5,000 recharge locations.