Company Presentation January 2016 Strictly Private and Confidential - PowerPoint PPT Presentation

Company Presentation January 2016 Strictly Private and Confidential

Disclaimer These materials have been prepared by Genneia S.A. (the “Company”) and are being furnished to you solely for your information on a confidential basis and may not be taken away, reproduced, redistributed or passed on, in whole or in part or directly or indirectly, to any other person (whether within or outside your organization/firm) or published, in whole or in part, for any purpose. By attending this presentation, you are agreeing to be bound by the foregoing restrictions and to maintain absolute confidentiality regarding the information disclosed in these materials. Any failure to comply with these restrictions may constitute a violation of applicable securities laws. Unauthorized copying, reproduction, redistribution or publishing of these materials into the United States to any other third parties (including journalists) could result in a substantial delay to, or otherwise prejudice, the success of the proposed offering. The information contained in these materials has not been independently verified. No representation or warranty express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. It is not the intention to provide, and you may not rely on these materials as providing, a complete or comprehensive analysis of the Company’s financial position, operations or prospects. The information contained in these materials should be considered in the context of the circumstances prevailing at the time and has not been, and will not be, updated to reflect material developments which may occur after the date of the presentation. None of the Company, nor any of its respective affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss or damage howsoever arising from any use of these materials or their contents or otherwise arising in connection with these materials. Certain statements contained in these materials constitute forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, which may cause the actual results, performance or achievements of the Company to be materially different from those expressed by, or implied by the forward-looking statements in these materials. There can be no assurance that the results and events contemplated by the forward-looking statements contained in these materials will in fact occur. These forward-looking statements are based on numerous assumptions regarding our present and future business strategies and the environment in which we operate and are not a guarantee of future performance. Such forward-looking statements speak only as of the date on which they are made. The Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. 1

Business Overview and Investment Highlights

Leading player in the development of new power generation in Argentina 61% THERMAL ENERGY 2014 33% RENEWABLE ENERGY CONSOLIDATED EBITDA 77.4MW Rawson Wind Farm, 280 MW installed capacity in in operation since Jan 2012 US$ 91 MILLION 9 Thermal Plants 43 Vestas AGs of 1.8MW each Efficient peakers strategically located in high 44% average net load factor consumption areas since COD¹ Dual fuel technology Wind capacity expansion plan of over 500 MW (240 MW 97% availability factor in ready-to-build) 2014 More than 90% of revenues derived from long-term PPAs denominated in US$, providing for stable and predictable cash flows ¹ Commercial operation date 3

Solid track record of performance and growth 2015 • Entrance of Argentum Investments I LLC acquiring Ivanissevich ´ s stock Shareholder structure • $50mm capitalization and repayment of 2013 subordinated private • US$90mm acquisition Prado Largo S.A. note of generation assets 6% Argentum for 4 thermal plants Investments I Brito and (previously under LLC Carballo 2012 Dec. 2011 lease agreements) 44% • Shareholders change families 120 • Mr.Brito and Mr.Carballo 25% corporate name to acquire part of Fintech's “GENNEIA S.A.” shares 2007 • Entrance of Private Feb. 2012 Aug. 2011 • New capital Fintech Equity funds • AEI sells its stake to Fintech Energy LLC 100 • US$40mm capital contribution of • Issuance of subordinated 25% US$15mm (to cancel contribution bond of US$50mm convertible bond) 2006 2009 • Construction of • Capital contribution of Gasoducto 80 US$35mm from AEI Patagónico • Convertible bond issuance of US$15mm 2004 • Engaged in the Energy 2008 2012 trading business • AEI becomes 60 • Rawson wind shareholder farm becomes 2001 (US$25mm capital operative • A.Ivannissevich contribution) 2014 acquires Emgasud • All thermal contracts extended through 40 “ Resolución 220” 1991 with CAMMESA 2009 • Empresa de Gas del Sudeste – • Awarded the right to develop Emgasud SA was created, 2012-2013 and operate 2 wind farms in engaged in the propane gas • Divestiture of Rawson and 5 wind farms in distribution business natural gas 20 Puerto Madryn (80 MW & 220 2007 - 2011 distribution and MW) • Development of thermal power transportation generation assets with a businesses combined IC of 280 MW 0 1991 2001 2007 2008 2009 2010 2011 2012 2013 2014 LTM 2015 EBITDA evolution (US$mm) Thermal energy and others Note: IC refers to installed capacity. ¹ Adjusted taking into account call options and Renewable energy participations assigned by Fintech to Andreas Keller S. and Fides 4

Diversified asset base within a consolidated business and financial model Power generation assets Breakdown by business unit – LTM as of 9/30/2015 Revenue (US$MM) Consolidated EBITDA (US$MM) ThP PARANA (42 MW) - 2009 Other Renewable Other Renewable 3% energy 4% energy ThP CONCEPCIÓN 23% 35% (42 MW) - 2009 ThP BRAGADO (50 MW) - 2011 ThP MATHEU Thermal (42 MW) - 2008 Thermal energy energy 61% ThP OLAVARRIA I 74% (42 MW) - 2009 ThP PINAMAR (20 MW) - 2008 Revenues: US$161.9mm EBITDA: US$82.8mm WF RAWSON ThP LAS ARMAS I & II Note: Other includes energy trading business (77.4 MW) – 2012 (10 MW + 25 MW) – 2009/2011 ThP MAYO Y COSTA (7 MW) – 2008/2009 Installed capacity (MW) Energy sales (GWh) Isolated Renewable Renewable Thermal energy energy energy energy 2% Note: Year indicates commercial operation date (COD) 22% 26% 74% Summary metrics Thermal Thermal Energy Isolated Energy Wind Energy energy Installed Capacity 273 MW 7 MW 77.4 MW 76% Installed capacity: 357 MW Energy sales: 1300 GWh Total Investments US$315mm US$7mm US$154mm 5

Successful growth track record on the back of stable and predictable cash flows Net revenues evolution (US$MM) EBITDA growth (US$MM) Renewable Energy Conventional Energy Others Renewable Energy Conventional Energy Others 158 166 91 162 5% 5% 86 6% 6% 4% 134 72 121 4% 59 5% 56 19% 11% 6% 61% 72% 62% 74% 71% 65 60% 96% 21 31% 94% 81% 89% 24% 33% 35% 32% 69% 23% 24% 22% 76% 2009 2010 2011 2012 2013 2014 2009 2010 2011 2012 2013 2014 Long-term Power Purchase Agreements (PPA) – Main Terms Thermal Power Plants Renewable Energy Plants Thermal Power Plants Renewable Energy Plants Off-taker CAMMESA ¹ ENARSA. GENNEIA receives payments from CAMMESA under these PPAs since ENARSA has assigned to the Company its rights to receive payments under the WEM² Agreements that support each of our PPAs with ENARSA Tenor 10 years from the date of commencement of commercial operations of each The first to occur of (i) 15 years as from the COD (which may be extended for power plant (current contracts expire between 2018 and 2021) an additional 18-month term at the option of ENARSA) and (ii) the dispatch of First 3 years with ENARSA and 7-year extension with CAMMESA the maximum quantity of energy committed to be purchased by ENARSA (3,825 GWh on aggregate for both contracts) Currency Denominated in US$; payable in Argentine Pesos (BCRA 3500) Denominated in US$; payable in Argentine Pesos (BCRA 3500) Price Fixed availability charge of US$ 21,275 per MW-month Price for electricity effectively delivered: Rawson I (48.6 MW): Variable charge for electricity effectively delivered between US$ 7.45 and US$ 128.70/MW-hour; Rawson II (28.8 MW): US$ 124.20/MW-hour US$ 14.90 per MW-hour (compensation for variable operating and maintenance costs) Pass-through of actual fuel costs ¹ Does not consider the 2 isolated power plants (Río Mayo and Gob. Costa) under PPAs with the Government of Chubut. ² WEM refers to the Argentine wholesale electricity market administered by CAMMESA 6