We advised the arrangers and placement agents on the exchange offer and consent solicitation of the local notes by Grupo Albanesi for US$ 325,800,000

Tavarone, Rovelli, Salim & Miani advised Grupo Albanesi on the exchange offer and consent solicitation of the local notes of Generación Mediterránea S.A. (“GEMSA”) and Central Térmica Roca S.A. (“CTR”), on one hand, and Albanesi Energía S.A. (“AESA”), on the other. Bruchou & Funes de Rioja advised the arrangers, placement agents and settlement agent.

The exchange offer and consent solicitation, launched on August 9, 2024 and closed on August 30, 2024, became one of the largest exchanges ever carried out in the argentine capital markets, considering the number of instruments involved.

As part of this transaction, US$ 325.8 of the aggregate principal amount of US$ 403.4 million corresponding to 22 classes of notes maturing between 2024 and 2026 were voluntarily exchanged for 8 new classes of notes maturing between 2027 and 2028, representing an 81% acceptance rate.

Simultaneously, Grupo Albanesi obtained additional funding of US$11,441,687 through the cash subscription of new notes.

In addition, GEMSA-CTR and AESA, by means of collective action clauses (CACs), requested the consent of the holders of their existing notes to modify certain terms and conditions of such notes, including interest rates and payment dates, to align the terms and conditions of the new notes.

As a result of the transaction, GEMSA and CTR co-issued the following notes under their Global Notes Program (non-convertible into shares) for a total nominal value of up to US$ 1,000,000,000 (or its equivalent in other currencies or units of measure or value):

• Class XXXV HD Bullet Notes at a fixed interest rate of 9.75% per annum, maturing on August 28, 2027, for US$ 52,379,003.
• Class XXXVI DL Bullet Notes with a step-up fixed interest rate of 6.75% per annum, maturing on August 28, 2027, for US$ 65,120,032.
• Class XXXVII DL Amortizing Notes with a step-up fixed interest rate of 6.75% per annum, maturing on August 28, 2028, for US$ 71,337,585.
• Class XXXVIII UVA Bullet Notes with a fixed interest rate of 4.00% per annum, maturing on August 30, 2027, for 21,765,631 UVAs.

AESA issued the following notes under its Global Notes Program (non-convertible into shares) for a total nominal value of up to US$ 250,000,000 (or its equivalent in other currencies or units of measure or value):

• Class XV HD Bullet Notes at a fixed interest rate of 9.75%, maturing August 28, 2027, for US$ 17,749,189.
• Class XVI DL Bullet Notes with a step-up fixed interest rate of 6.75% per annum, maturing on August 28, 2027, for US$ 42,028,280.
• Class XVII DL Amortizing Notes with a step-up fixed interest rate of 6.75% per annum, maturing on August 28, 2028, for US$ 44,788,040.
• Class XVIII UVA Bullet Notes with a fixed interest rate of 4.00% per annum, maturing on August 30, 2027, for 24,670,554 UVAs.

Banco de Servicios y Transacciones S.A., Balanz Capital Valores S.A.U. and SBS Capital S.A. acted as Arrangers, and Banco de Servicios y Transacciones S.A. as Settlement Agent.

The Placement Agents included SBS Trading S.A., Banco de Servicios y Transacciones S.A., Balanz Capital Valores S.A.U., Facimex Valores S.A., Puente Hnos S.A., Banco Supervielle S.A., Banco Hipotecario S.A., BACS Banco de Crédito y Securitización S.A., Invertir en Bolsa S.A., Invertironline S.A.U., Banco de la Provincia de Buenos Aires, Bull Market Brokers S.A., Banco Santander Argentina S.A., Allaria S.A., Global Valores S.A., Macro Securities S.A.U., Becerra Bursátil S.A., Adcap Securities Argentina S.A., GMA Capital S.A., GMC Valores S.A., Inviu S.A.U., TPCG Valores S.A.U., Petrini Valores S.A.U., Consultatio Investments S.A., Latin Securities S.A., Neix S.A., Buenos Aires Valores S.A., Nación Bursátil S.A., and PP Inversiones S.A..

Legal Counsel to Grupo Albanesi

Tavarone, Rovelli, Salim & Miani acted as legal counsel to Generación Mediterránea S.A., Central Térmica Roca S.A., and Albanesi Energía S.A., led by partner Francisco Molina Portela, and associates Ximena Sumaria, Agustín Ponti, Nicolás De Palma, and Maria Clara Pancotto.

Generación Mediterránea S.A., Central Térmica Roca S.A., and Albanesi Energía S.A. were also advised by their in-house lawyer, María Mercedes Cabello.

Legal Counsel to the Arrangers, Placement Agents and the Settlement Agent

Bruchou & Funes de Rioja’s Banking & Capital Markets Department acted as legal counsel to the Arrangers, Placement Agents, and the Settlement Agent, led by partner José M. Bazán, and associates Leandro E. Belusci, Quimey Lía Waisten, and Lucía De Luca.