Good morning, ladies and gentlemen. Welcome to Central Puerto's Third Quarter 2023 Earnings Webcast. All participants will be in a listen-only mode. [Operator Instructions] After today’s presentation there will be an opportunity to ask questions. Please note, this event is being recorded. If you do not have a copy of the press release, please refer to the Investor Relations support section on the company's corporate website at www.centralpuerto.com. In addition, a replay of today's call may be accessed by accessing the webcast link at the same section of the Central Puerto's website. Before we proceed, please be aware that all financial figures were prepared in accordance with IFRS and were converted from Argentine pesos to US dollars for comparison purposes only. The exchange rate used to convert Argentine pesos to US dollars was the reference exchange rate reported by the Central Bank for US dollars for the end of each period. The information presented in US dollars is for the convenience of the reader only, and you should not consider these translations to be representations that the Argentine peso amounts actually represent these US dollar amounts or could be converted into US dollars at the rate indicated. Finally, it is worth noting that the financial statements for the third quarter ended on September 30, 2023, include the effects of the inflation adjustment. Also, please take into consideration that certain statements made by the company during this conference call and answer to your questions may include forward-looking statements, which are subject to risks and uncertainties that could cause actual results to be materially different from the expectation contemplated by industry remarks. Thus, we refer you to the forward-looking statements section of our earnings release and recent filings with the SEC. Central Puerto assumes no obligation to update forward-looking statements, except as required under applicable securities laws. To follow the discussion better, please download the webcast presentation available on the company's website. Please be aware that some of the numbers mentioned during the call may be rounded to simplify the discussion. On the call today from Central Puerto is Fernando Bonnet, Chief Executive Officer; Enrique Terraneo, Chief Financial Officer; and Pablo Calderone, Corporate Finance and Investor Relations Manager. And now I will turn the call over to Pablo Calderone. Please, Pablo, you may begin.

Thank you very much, and good morning to you all. We are joining you today with our management team from Buenos Aires, Argentina, to comment on our result of the third quarter of 2023. Taking a moment of your attention to review today's agenda, I would like to begin the presentation by addressing shortly the main figures of the quarter, followed by a quick update of the regulatory framework of the Argentine energy sector, and then move on to analyze the evolution of our financial results. Finally, at the close of my presentation, we will be happy to address any questions that you may have. Before going into a more exhaustive analysis of the evolution of our main financial and operational data, let me briefly review the main figures of the Central Puerto Group during the third quarter of 2023. As you may know, with the acquisition of Central Costanera performed earlier this year, the group's system capacity has increased by 48% year over year to 7,113 megawatts. Furthermore, energy generation amounting to 5,721 gigawatts per hour, being a 46% increase with respect to the same period of 2022. It is worth noting that with the acquisition of Central Costanera performed earlier this year, the Group system capacity has increased by 48% year-over-year to 7,113 megawatts. Furthermore, energy generation amounting to 5,721 gigawatts per hour, being a 46% increase with respect to the same period of 2022. It is worth noting that with the acquisition of Central Costanera and the more recent acquisition of the solar farm Guanizuil II A, the Group has become the largest energy generation company in Argentina, both in terms of system capacity and energy generation, with a diversified portfolio of assets across all power generation technologies. With regards our financials of the quarter, revenues amounted…

We will now begin the question and answer session. [Operator Instructions] Your first question is coming from Rodrigo Nistor with Latin Securities. Please pose your question. Your line is live.

So given the change in the government in 2024, how you're modeling the impact on legacy energy remuneration, what scenarios are being considered in terms of regulatory changes and how this might affect your strategy for your thermal project? Thank you.

Hi, Rodrigo. Thank you for your question. I can't hear you very well. I assume that you're asking for Energy Advancement Remuneration Framework for 2024, is it correct?

Yes. Can you hear me better now?

Okay. Yes. Well, as you know, this -- the Energy Advancement Remuneration Framework is a framework in which we receive the amounts in pesos and the Secretary of Energy establish the tariff and make the adjustment of that tariff in terms of inflation. Right now we are reaching -- with the last increase on November, we are reaching an increase this year of 150% for this year. We are trying to push for another increase on December, trying to catch all the inflation of this year, but we don't know now if we can get it or not because, of course, we need to wait until the elections if we have the same Secretary of Energy or the same government or we need to discuss with a new one. But we are confident that we can at least cap the inflation this year. Next one depends on the new administration coming, if they're going to establish a regular basis adjustment, which is what we want, trying to have an automatic adjustment in trying to cover inflation, not going step-by-step, discussing every three months the adjustment is which we have right now. So we are confident to try to set a scheme of adjustment, automatically establish, trying to catch the inflation, as I mentioned, automatically. We talked with the possible ministry or Secretary of Energy, and they are aware about that. They know that we need to have that. We talked with the actual Secretary of Energy, and she knows the same, that we need to have an adjustment more automatically than we have now. And I think this will be the challenge for the next perhaps quarter. Of course, first, they need to adjust the tariff, the end-user tariff, and we need to have the same, like -- or a scheme which is in order with that. So, first, they need to solve, I think, the problems to establish a new tariff, end-user tariff scheme, and then we can discuss how we can enter in that scheme and having an automatical adjustment. So, that's our idea about how we can discuss the future in terms of legacy energy.

Okay. And I have a second question, if I may. If you could outline Central Puerto's investment plans for 2024, including potential acquisition targets, progress in transitioning to combined cycle, and your expectations for the upcoming energy options and their impact on the company's position and performance. Thank you.

Okay. So, the first thing that we have ready to start is the Brigadier Lopez closing combined cycle, which is in the finish. We are finishing the discussion with EPC constructor this month, I think, and we'll start the construction perhaps early January. So, this is the first more clear investment in CapEx, new investment in CapEx. This will be around -- it's not really -- it's not fully closed, but it will be around $140 million and $150 million in CapEx, and around 20 months of construction. We will reach an output of 400 megawatts in this combined cycle that we have in Santa Fe. And then, in terms of new projects, as you know, we are participating in a bidding process, and maybe thermal process, thermal auction, and we are confident that we can at least reach two projects there. It's not fully finished. We expect that to have an announcement perhaps this week or the next one. But, of course, that will depend on also, I think, the ending of the result of the election. And in terms of acquisitions, we are still looking in terms of new capacity in renewables. We are seeing several projects there, but we don't have any clear view about how we can continue the process because we are in the early stages. We are still looking at possibilities in mining, but also in early stages. So, we don't have another close possibilities right now. So, I think Brigadier Lopez is the more clear one, and second, the thermal options coming is another possibility.

That was really helpful. Thank you.

Your next question is coming from Martin [Arenta] (ph) with Balance Capital. Please pose your question. Your line is live.

Hi. Thank you. Thank you very much for the materials and for taking my questions. I have three questions. I would like to run them one by one also, if that's okay. First, now that you have paid the syndicated loan, what could we expect in dividends or share repurchases for next year?

Well, as you mentioned, we are -- right now we don't have any limitation to pay dividends, so we want to come back to the regular basis payments as we have in the past. So, the amount will, of course, depend on the tariff adjustment, how many megawatts we get awarded in the thermal option, and of course, the possibility of receiving financing in the future. But having said that, we want to come back to regular basis payments.

Very clear. Thanks. And then you already mentioned something about it, but I was wondering if you have any news on the evaluation of mining projects, if you think that Central Puerto could close a deal next year.

Well, for sure, we're going to put focus on that. As I mentioned, we are in the early stages, so I cannot comment on how or when we can get the closing, but we want to put focus and see alternatives in that sector, yes.

Okay, thanks. And my last question, well, you were one of the main leaders in the recent thermal option, and of course, we are still waiting for the results, what IRR were you aiming for, and do you see a risk on financing rates for next year if the new government removes capital controls?

Okay, well, as you know, it's an open process right now. So I cannot comment specifically the IRRs that we are seeing, but I can say, yes, that they, of course, are related to the Argentine risk and the risk you mentioned of the financing -- perhaps limitations of financing situation that we can face in the near future. So the returns are according to that, but I cannot go forward because it's an open process.

Okay. Very helpful. Thank you.

Thank you for your interest.

[Operator Instructions] This concludes our question-and-answer session. I would like to turn the conference back over to Mr. Fernando Bonnet for any closing remarks.

Okay. Thank you to everyone for your interest in Centro Puerto. We encourage you to call us for any information that you may need. Have a great day. Bye-bye.

Thank you. This does conclude today's conference call. Have a wonderful day.