CONFIDENTIAL June 2020 Disclaimer Presentation of IFRS Information - PowerPoint PPT Presentation

CONFIDENTIAL June 2020

Disclaimer Presentation of IFRS Information We report our financial results in accordance with IFRS. However, we have included in this Presentation certain financial measures and ratios that are not recognized financial measurements under IFRS. “Adjusted EBITDA,” a measure used by management to evaluate ongoing performance, refers to net income (loss) plus financial results, net, plus/less income tax, plus depreciation and amortization less/plus share of net profit/loss of associates and joint arrangements accounted for using the equity method, and plus goodwill impairment. The measurements of Adjusted EBITDA contained herein are not defined under IFRS, are not measures of operating profit, operating performance or liquidity presented in accordance with IFRS and are subject to important limitations. Adjusted EBITDA does not have a standardized meaning and may not be comparable to those used by other companies. Because of these limitations, the measurements of Adjusted EBITDA contained herein should not be considered a measurement of discretionary cash available to us to invest in the growth of our business or as a measurement of cash that will be available to us to meet our obligations, nor should they be construed as alternatives to other titled measures determined in accordance with IFRS. Forward – looking Statements This Presentation may contain statements that constitute “forward -looking statements” . The words “believe,” “could,” “may,” “estimate,” “continue,” “potential,” “anticipate,” “intend,” “expect,” “will,” “should” and “plan,” among others, are intended to identify forward-looking statements. Forward- looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions because they relate to future events and, therefore, depend on circumstances that may or may not occur in the future. Forward-looking statements include, but are not limited to, statements regarding our officers’ intent, belief or current expectations with respect to, among other things, the use of proceeds of this offering, our financing plans, trends affecting our business, the impact of competition and future plans and strategies. Our future results may differ materially from those expressed in or suggested by these forward-looking statements. Many of the factors that will determine these results are beyond our ability to control or predict. Investors are cautioned not to put undue reliance on any forward-looking statements. Forward-looking statements speak only as of the date they were made and neither we nor the managers undertake to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Rounding Certain figures included in this Presentation have been rounded for ease of presentation. Percentage figures have not in all cases been calculated on the basis of such rounded figures but on the basis of such amounts prior to rounding. For this reason, percentage amounts in this Presentation may vary from those obtained by performing the same calculations using the figures in Clisa’s Audited Consolidated Financial Statements and Clisa’s Unaudited Condensed Interim Consolidated Financial Statements. Certain other amounts that appear in this Presentation may not sum due to rounding.

P.1 Background. History. Main subsidiaries. Key Figures.

P.2 Background. History. Based in Argentina, CLISA is a holding company. CLISA is a member of ~16,400 the Roggio Group, one of the largest Argentine conglomerates. It is the group’s most important subsidiary. employees The Roggio Group started its operations as a construction company in the city of Córdoba more than 100 years ago, back in 1908. It rapidly expanded its works throughout Argentina and then diversified to other activities, with an extensive international experience in different areas Over 110 years building (Peru, Brazil, Uruguay, Paraguay, Chile, Panama, Bolivia, Ecuador, Mexico). It has a broad technical and operational experience in public the future. works and services companies from construction, electricity, transportation, engineering, and others. The Roggio Group is currently focused on Construction, Waste Management, Transportation, Water Supply Services and Entertainment. It has also been involved in many different business activities in the past, such as mobile telephone services, power distribution, banking and real estate.

P.3 Background. Main Subsidiaries. As a holding company, CLISA is organized into several business units, developed and executed by its main operative subsidiaries: WASTE CONSTRUCTION TRANSPORTATION WATER SUPPLY MANAGEMENT Cliba Ingenieria Urbana S.A. Benito Roggio e Hijos S.A. Metrovías S.A. Aguas Cordobesas S.A. (Urban Waste Management) (Water Supply Utility) (Construction) (Subway and Urquiza Railway Line) 100% 72.0% 99.6% 90.7% Tecsan Ingenieria Ambiental S.A. Haug S.A. Benito Roggio Transporte (Landfill, Waste Valorization, (Industrial and Mining (Railroad Projects) Urban Waste Management) Construction - Peru) 97.1% 100% 100% Envairo S.A. Benito Roggio Ferroindustrial Other construction companies and JV´s (Industrial Waste Management) (Railcar Repair Plant) VARIOUS OWNERSHIP 100% 95.0% PERCENTAGES Leader in waste One of the main construction Most important private Main private water management in companies in Argentina with transportation operator in supply operator in Argentina over 100 years of history Argentina Argentina

P.4 Background. Key Financial Figures. Revenues (AR$ mm) EBITDA (AR$ mm) 13,6% 15,5% 16,9% 16,6% 52.253 52.180 8.794 8.133 8.085 49.028 6.141 45.116 FY2017 (*) FY2018 (*) FY2019 (*) LTM mar-20 (*) FY2017 (*) FY2018 (*) FY2019 (*) LTM mar-20 (*) LTM Revenues Breakdown LTM EBITDA Breakdown AR$ 49,028 mm (*) AR$ 8,133 mm (*) Construction; 40.0% Waste Management;60.6% Waste Management; 38.9% Construction; 24.6% Transportation; 14.1% Transportation; 12.8% Water Supply; 7.0% Water Supply; 5.1% Holding and Other Activities; 0.1% Holding & Other Activities; -3.1% (*) Figures derive from financial statements adjusted for inflation and have been restated to March 2020 prices.

P.5 Background. Key Segment Financial Overview. Waste Management Construction 20% 23% 26% 26% 13% 10% 10% 12% 19.636 19.501 19.086 18.469 16.396 23.168 21.890 19.596 5.009 4.928 4.442 3.652 2.800 2.795 2.000 1.630 FY2017 (*) FY2018 (*) FY2019 (*) LTM mar-20 (*) FY2017 (*) FY2018 (*) FY2019 (*) LTM mar-20 (*) Transportation Water Supply Services 7% 7% 12% 15% 15% 17% 12% 10% 7.392 6.889 6.808 6.132 3.319 3.411 3.403 3.358 1.042 526 557 913 415 352 472 439 FY2017 (*) FY2018 (*) FY2019 (*) LTM mar-20 (*) FY2017 (*) FY2018 (*) FY2019 (*) LTM mar-20 (*) (*) Figures derive from financial statements adjusted for inflation and have been restated to March 2020 prices.

P.6 Waste Management. Urban Waste Management. Landfill and Waste Valorization. Industrial and Commercial Waste Treatment.

P.7 Waste Management. (Urban Waste Management) (Landfill and Waste (Industrial and Commercial Valorization) Waste Treatment)

P.8 Waste Management. More than 650,000 tons of waste collected per Cliba is the leader and the only Revenues breakdown by year, serving over 1,500,000 people. fully integrated waste segment management company in More than 5,600,000 tons of waste disposed per Argentina. year in 2 landfills. It started its activities in 1986. Industrial Waste Management Over 98.0 million tons of waste disposed since  4,800 7% start of operations. Waste employees Valorization 8% Has built over 300 hectares of landfill infrastructure. + 700 heavy Landfill Mechanical and biological treatment of 1,100 46% and light duty Urban Waste tons of waste per day. Management equipment 39% Recovers 1,600 tons of recyclable materials per year. including compactor trucks, sweepers, flushers, rolls-off, pick-ups, etc.

P.9 Waste Management. Urban Waste Management. Cliba provides Urban Waste Management services 1.5 million including: City of City of Santa Buenos people served • Urban Waste Collection Fe, Aires • Manual and Mechanical Street Sweeping Province of • Green areas maintenance 615,000 Santa Fe 650,000 • Drain & Sewer Clearance, Cleaning & people 260.000 people served in Maintenance served in Zone • Pathogenic Waste Treatment and Disposal. Zone 2 tons of waste 1 collected per Revenue generation and collection • year Services are billed and paid for on a monthly City of basis. County of Neuquén, • Revenues do not depend on the volume of San Isidro Province of waste collected, but are instead determined by Province of Neuquén the size of the area served and the kind of Buenos Aires 360.000 services provided. 290.000 people people served • served Contracts contain price adjustment clauses that are triggered upon changes from 5% to 7% in the cost structure.