CONDENSED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2021 AND FOR THE SIX AND THREE-MONTH

PERIOD ENDED JUNE 30, 2021

PRESENTED IN COMPARATIVE FORM

(Stated in millions of constant pesos - Note 3)

C O N D E N S E D I N T E R I M

F I N A N C I A L S T A T E M E N T S

Legal Information

2

Condensed Interim Statement of Comprehensive Income (Loss)

3

Condensed Interim Statement of Financial Position

4

Condensed Interim Statement of Changes in Equity

6

Condensed Interim Statement of Cash Flows

7

Notes to the Condensed Interim Financial Statements:

1

|

General information

9

2

|

Regulatory framework

10

3

|

Basis of preparation

12

4

|

Accounting policies

13

5

|

Financial risk management

13

6

|

Critical accounting estimates and judgments

15

7

|

Contingencies and lawsuits

16

8

|

Revenue from sales and energy purchases

17

9

|

Expenses by nature

19

10

|

Other operating income (expense), net

20

11

|

Net financial costs

20

12

|

Basic and diluted loss per share

21

13

|

Property, plant and equipment

22

14

|

Right-of-use asset

24

15

|

Inventories

24

16

|

Other receivables

24

17

|

Trade receivables

25

18

|

Financial assets at amortized cost

25

19

|

Financial assets at fair value through profit or loss

26

20

|

Cash and cash equivalents

26

21

|

Share capital and additional paid-in capital

26

22

|

Allocation of profits

26

23

|

Trade payables

27

24

|

Other payables

27

25

|

Borrowings

28

26

|

Salaries and social security taxes payable

28

27

|

Income tax and deferred tax

29

28

|

Tax liabilities

30

29

|

Provisions

31

30

|

Related-party transactions

31

31

|

Ordinary and Extraordinary Shareholders' Meeting

32

32

|

Termination of agreement on real estate asset

32

33

|

Change of control

33

Report on review of Condensed Interim Financial Statements

C O N D E N S E D I N T E R I M

F I N A N C I A L S T A T E M E N T S

Glossary of Terms

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's Condensed Interim Financial Statements.

Terms

Definitions

BCRA

Central Bank of Argentina

BICE

Banco de Inversión y Comercio Exterior

BNA

Banco de la Nación Argentina

CABA

City of Buenos Aires

CAMMESA

Compañía Administradora del Mercado Mayorista Eléctrico S.A.

(the company in charge of the regulation and operation of the wholesale

electricity market)

CNV

National Securities Commission

CPD

Company's Own Distribution Cost

CSJN

Supreme Court of Justice of Argentina

CTLL

Central Térmica Loma de la Lata S.A.

DNU

Executive Order issued on the grounds of Necessity and Urgency

EASA

Electricidad Argentina S.A.

edenor

Empresa Distribuidora y Comercializadora Norte S.A.

ENRE

National Regulatory Authority for the Distribution of Electricity

FACPCE

Argentine Federation of Professional Councils in Economic Sciences

FIDUS

FIDUS Sociedad de Garantías Recíprocas

GWh

Gigawatt/hour

IAS

International Accounting Standards

IASB

International Accounting Standards Board

ICBC

Industrial and Commercial Bank of China

IEASA

Integración Energética Argentina S.A.

IFRIC

International Financial Reporting Interpretations Committee

IFRS

International Financial Reporting Standards

IMF

International Monetary Fund

MEM

Wholesale Electricity Market

OSV

Orígenes Seguros de Vida S.A.

PBA

Province of Buenos Aires

PEN

Federal Executive Power

PESA

Pampa Energía S.A.

RDSA

Ribera Desarrollos S.A.

RECPAM

Gain (Loss) on exposure to the changes in the purchasing power of the currency

REM

Market Expectations Survey

RTI

Tariff Structure Review

SACME

S.A. Centro de Movimiento de Energía

SACDE

Sociedad Argentina de Construcción y Desarrollo Estratégico S.A.

SEGBA

Servicios Eléctricos del Gran Buenos Aires S.A.

WHO

World Health Organization

1

C O N D E N S E D I N T E R I M

F I N A N C I A L S T A T E M E N T S

Legal Information

Corporate name: Empresa Distribuidora y Comercializadora Norte S.A.

Legal address: 6363 Av. del Libertador Ave., City of Buenos Aires

Main business: Distribution and sale of electricity in the area and under the terms of the Concession Agreement by which this public service is regulated.

Date of registration with the Public Registry of Commerce:

  • of the Articles of Incorporation: August 3, 1992
  • of the last amendment to the By-laws: May 28, 2007 - Note 31

Term of the Corporation: August 3, 2087

Registration number with the "Inspección General de Justicia" (the Argentine governmental regulatory agency of corporations): 1,559,940

Parent company: Empresa de Energía del Cono Sur S.A.

Legal address: 1252 Maipú Ave., 12th Floor - CABA

Main business of the parent company: Investment in Class "A" shares of edenor.

Interest held by the parent company in capital stock and votes: 51%

CAPITAL STRUCTURE AS OF JUNE 30, 2021 (amounts stated in pesos)

Subscribed and

Class of shares

paid-in

(See Note 21)

Common, book-entry shares, face value 1 and

1 vote per share

Class A

462,292,111

Class B (1)

442,210,385

Class C (2)

1,952,604

906,455,100

(1) Includes 31,134,420 and 31,380,871 treasury shares as of June 30, 2021 and December 31, 2020, respectively.

(2) Relates to the Employee Stock Ownership Program Class C shares that have not been transferred.

2

C O N D E N S E D I N T E R I M

F I N A N C I A L S T A T E M E N T S

edenor

Condensed Interim Statement of Comprehensive Income (Loss)

for the six and three-month period ended June 30, 2021

presented in comparative form (Stated in millions of constant pesos - Note 3)

Revenue

Energy purchases

Subtotal

Transmission and distribution expenses

Gross margin

Selling expenses

Administrative expenses

Other operating income

Other operating expense

Loss from interest in joint ventures

Operating profit

Financial income

Financial costs

Other financial costs

Net financial costs

Monetary gain (RECPAM)

Profit (Loss) before taxes

Income tax

Loss for the period

Comprehensive loss for the period attributable to:

Owners of the parent

Comprehensive loss for the period

Basic and diluted loss per share: Loss per share (argentine pesos per share)

Six months at

Three months at

Note

06.30.21

06.30.20

06.30.21

06.30.20

8

47,148

59,513

23,838

26,953

8

(29,557)

(38,051)

(15,423)

(17,738)

17,591

21,462

8,415

9,215

9

(11,490)

(12,584)

(5,720)

(6,833)

6,101

8,878

2,695

2,382

9

(5,035)

(6,817)

(2,332)

(4,120)

9

(3,089)

(2,835)

(1,618)

(1,523)

10

2,054

1,700

1,444

749

10

(1,671)

(1,146)

(841)

(635)

(3)

(1)

(3)

(1)

(1,643)

(221)

(655)

(3,148)

11

22

18

6

6

11

(10,183)

(4,404)

(5,273)

(2,477)

11

658

(2,123)

575

(935)

(9,503)

(6,509)

(4,692)

(3,406)

11,473

4,891

5,468

2,231

327

(1,839)

121

(4,323)

27

(11,963)

(853)

(11,030)

490

(11,636)

(2,692)

(10,909)

(3,833)

(11,636)

(2,692)

(10,909)

(3,833)

(11,636)

(2,692)

(10,909)

(3,833)

12

(13.30)

(3.08)

(12.47)

(4.38)

The accompanying notes are an integral part of the Condensed Interim Financial Statements.

3

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EDENOR - Empresa Distribuidora y Comercializadora Norte SA published this content on 12 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2021 19:31:07 UTC.