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“Atucha III” Nuclear Power Plant Project Joint Statement

Nucleoeléctrica Argentina S.A. and China National Nuclear Corporation are pleased to inform that after a fruitful period of negotiation, on February 1st both companies have reached a mutual understanding and signed the Engineering, Procurement and Construction (EPC) Contract for the development of “Atucha III” Nuclear Power Plant, which shall be an HPR1000 nuclear power plant to be operated with a rated gross electric power of 1200 MWe.

To reduce the impact of the consequences caused by the COVID-19 pandemic, the event was held virtually with the presence of the highest authorities of both companies and the diplomatic representatives and national and local authorities of both countries.

This important event represents the end of a cycle of cooperation and mutual understanding that started on June 2010 and the beginning of a new one, which both companies foresee will be of auspicious prosperity for both Nations, allowing the strengthening of ties for the peaceful development of nuclear energy generation, nuclear science and technology and industrial development.

The signing of the EPC Contract will be followed by the compliance of all the precedent conditions stipulated therein, among which the need to obtain the corresponding authorizations from the relevant authorities of both countries stands out, together with the financial and technology transfer agreements.

Both companies agreed to highlight that “Atucha III” NPP Project is part of the Comprehensive Strategic Association and the Framework Agreement for Economic and Investment Cooperation -both executed in July 2014- and the Agreement between the Government of the Argentine Republic and the Government of the People's Republic of China on Cooperation in the Construction Project of a Pressurized Water Reactor in Argentina -signed in February 2015-.

In this sense, both parties considered relevant to point out that this important event takes place within the framework of the celebration of 50 years of diplomatic bilateral relations between the two countries, as well as prior to the visit of the President of the Nation of the Argentine Republic to the People's Republic of China to witness the opening ceremony of the Winter Olympics.

Finally, both companies emphasized that nuclear energy is a clean energy source that has proven to be part of the solution to the difficult and complex environmental challenges that the world is currently facing.

Buenos Aires and Beijing, February 1st, 2022.