EXTRACT FROM THE RELEVANT PART OF EDENOR’S BOARD OF DIRECTORS MINUTES N° 407
In the Autonomous City of Buenos Aires, on the 9th day of August 2016, at 10.00 a.m., the members of the Board of Directors of EMPRESA DISTRIBUIDORA Y COMERCIALIZADORA NORTE S.A. (Edenor S.A.) (the “Company”) whose signatures appear at the end of this minute, namely: Ricardo Torres, Damián Mindlin, Gustavo Mariani, María Carolina Sigwald, Eduardo Llanos, Maximiliano Fernández, Emilio Basavilbaso, Ricardo López Antonelli, Fernando Bearzi, Mariano García Mithieux and Lucas Amado meet at the Company’s headquarters located at Av. del Libertador 6363. Permament Auditors Messrs. Daniel Abelovich, Damián Burgio and Carlos Vidal on behalf of the Audit Committee are present. Likewise, Mr. Leandro Montero, Edenor’s Administration and Finance Manager, Mr. Daniel Flaks responsible for Edenor’s Technical Management and Mr. Sergio Cravero, PWC’s partner, external auditor of the Company are present. The meeting is chaired by the Board of Directors’ President, Mr. Ricardo Torres, who after verifying that there is quorum, declares the meeting to be in session and submits for the consideration of the Directors the FIRST ISSUE of the Agenda timely informed […] Afterwards, the FOURTH ISSUE of the Agenda is submitted for consideration 4) Consideration of Interim Financial Statement as of June 30th 2016. The Chairman informs that in connection with this issue of the Agenda, the Financial Statement and other documents corresponding to the six months period ended on June 30th 2015 are to be taken into consideration, explaining that the documents to be considered have been distributed among the present members jointly with the invitation to this meeting. In view of the foregoing, the Chairman suggests to omit the reading of said documents, which is approved unanimously by present members, submitting to the consideration of the Directors the Condensed Financial Statements as of June 30th 2016 and for the six months period ended on June 30th 2016 and 2015, which includes the Statement of Financial Position, Statement of Comprehensive Income, Statement of Changes in Equity, Cash Flow Statement, annexed documents, reporting summary, information required by Section 68 of the Argentine Stock Exchange Listing Requirements and reports issued by the Certifying Account and the Audit Committee; all documents corresponding to the period ended on June 30th 2016. The Chairman proposes present members to approve the documents submitted for
consideration. Mr. Basavilbaso requests permission to speak and expresses that even though he holds no objections regarding the Statement of Financial Position, Comprehensive Income, Changes in Equity and Cash Flow Statements, he does not agree with some of the considerations included in the Notes to the Financial Statement in connection with the National Government, wherefore he will abstain from voting. Messrs. López Antonelli, Bearzi, García Mithieux and Amado express they agree with Mr. Basavilbaso’s expressions. The Chairman takes the floor and upon motion duly made and after a brief exchange of opinions, the Board of Directors by unanimous computable votes, with the abstention of Messrs. Emilio Basavilbaso, Ricardo López Antonelli, Fernando Bearzi, Mariano García Mithieux and Lucas Amado DECIDES TO: (i) approve all the documents submitted for the consideration in the present issue of the Agenda; (ii) note the reports attached to the Consolidated Financial Statements approved and (iii) authorize the Chairman and Deputy Chairman to indistinctly subscribe the Financial Statements corresponding to the period ended on June 30th 2016 […] After an exchange of opinions and there being no further business to be discussed; the Chairman concludes the meeting at 12.00 p.m.
Signed below by: Ricardo Torres, Damián Mindlin, Gustavo Mariani, María Carolina Sigwald, Eduardo Llanos, Maximiliano Fernández, Emilio Basavilbaso, Emilio Basavilbaso, Ricardo López Antonelli, Fernando Bearzi, Mariano García Mithieux y Lucas Amado, José Daniel Abelovich, Damián Burgio and Carlos Vidal.
Ricardo Torres
EDENOR S.A.
Chairman
Empresa Distribuidora y Comercializadora Norte S.A. | ||
By: | /s/ Leandro Montero | |
Leandro Montero | ||
Chief Financial Officer |