Slide 1: Investors Presentation August 2026
Investors Presentation August 2026
Slide 2: Disclaimer
Disclaimer This document has been prepared by EDP, S.A. (the "Company") solely for use at the Forward-looking statements include statements regarding: objectives, goals, strategies, presentation to be made on this date and its purpose is merely of informative nature and, as outlook and growth prospe
Slide 3: Agenda
Agenda 1 EDP at a Glance 6 ESG 2 Iberia 7 Fixed Income 3 US 8 Corporate Governance 4 Brazil 9 1H26 Results 5 Breakdown by segment 10 Appendix
Slide 4: EDP at a Glance
EDP ata Glance @edp
Slide 5: Integrated Electric Utility in Iberia & Brazil, renewables developer & operator
EDP at a Glance Integrated Electric Utility in Iberia & Brazil, renewables developer & operator with strong presence in US and EU EBITDA by Geography EBITDA by Segment (%) weight in 2025 (%) weight in 2025 Rest of the World 10% Iberia Electricity Networks Brazil 39% 60% 30% 71% Electricity 71.3% Lis
Slide 6: Investment plan focused on LT contracted renewables and regulated networks
EDP at the Glance Investment plan focused on LT contracted renewables in US and Iberian regulated networks, support low-risk growth profile Gross Investment, €Bn EBITDA, € Bn By business By business By contracted profile Detail ~12 on next 5.0 5.2 ~5.2 slide FlexGen & 1.0 Clients 5.0 ~50% FlexGen &
Slide 7: Resilient business model: 80% of EBITDA regulated / LT contracted
EDP at the Glance Resilient business model under current context: 80% of EBITDA regulated / LT contracted, merchant exposure with low impact in our key markets 2028 Net profit guidance sensitivity to energy markets ∆ 2028 FW electricity prices 2028 Net Profit vs. CMD assumption impact Secured LT gas
Slide 8: Investment plan focused on value over volume and predictable cash flows
EDP at the Glance Investment plan focused on value over volume, management of execution risks and targeting predictable cash flows LT contracted Renewables1 Regulated Electricity Networks2 COD 2026-28 Project IRRs IRR-WACC Electricity All-in-RoRAB2 Regulatory Period distribution pre-tax ~8% 2026-29
Slide 9: Asset rotation strategy as a recurring part of the business
Asset rotation strategy as a recurring part of the business optimizing capital employed and showcasing value creation AR Gains/Invested Capital % ~60% Projects reaching FID pre-Covid impacted by Capex deviations, ~40% tightening capital gains ~34% 33% 5Y Average ~20% >15% ~10% 2021 2022 2023 2024 20
Slide 10: Portfolio optimization through asset rotation and disposals
EDP at the Glance Portfolio optimization: maximizing returns and reducing risk through recurring asset rotation program and disposals in non-core markets Focus on portfolio optimization Asset rotation 2026 program on track ~70% of target 2026 asset rotation program already Asset rotation plan for 20
Slide 11: Gross Investments funded by AR/disposals, Tax Equity and organic cash flow
EDP at a Glance Gross Investments funded by AR/disposals , Tax Equity and organic cash flow, supporting sound dividend policy and deleverage Gross Investment Cash Flow sources and uses 2026-28 2026-28 ~€9 Bn ~€9 Bn ~€12 Bn ~€6.5 Bn Electricity ~3.6 Networks Net Investment 5.5 ~€5.5 Bn EDPR ~7.5 ~60%
Slide 12: 2026-2028 business profile and target credit metrics
EDP at the Glance 2026-2028 business profile and target credit metrics aligned with commitment with a strong BBB credit rating Net Debt 15.4 17.0 15.0 € Bn ~80% of EBITDA from A-rated countries 20.9% 20.4% ~22% FFO/Net Debt 1 80% of EBITDA regulated + long-term % contracted / hedged 2025 1H26 2028 >
Slide 13: Mid single digit earnings growth supporting dividend policy
EDP at the Glance Mid single digit earnings growth with low-risk profile support sustainable and predictable dividend policy Recurring Net Profit Guidance, € Bn Annual Dividend per share, € cents Underlying Net profit (excluding AR gains) Dividend payout ratio, % AR gains Recurring Net Profit CAGR 2
Slide 14: Iberia
Investors’ Presentation 15
Slide 15: New incentives for renewables & BESS investments in Europe
Iberia New incentives for renewables & BESS investments to accelerate energy transition & independence in Europe NEW EU Electrification Action Plan presented on 17th July, EDPR well positioned to capture market opportunities, fostering substantial increase in renewables demand including hybridisatio
Slide 16: Improved outlook in Portugal
Iberia Improved outlook in Portugal – stronger sovereign profile and competitive electricity system reduce intervention risk A-Rated economy, on the back of a End-user electricity prices5 B2B among the most favorable macro environment affordable in EU (-22% vs. EU avg.) 2020 2026 Credit Rating 1 BBB
Slide 17: Portugal electricity demand growth is accelerating
Iberia Portugal electricity demand growth is accelerating, supported by electrification and data centres Electricity demand growth In Portugal Portugal's structural advantages… Growing electricity demand improves network ~20% 60% utilization, reducing fixed system costs Industrial Consumption Data C
Slide 18: FlexGen & Clients
FlexGen & Clients @edp
Slide 19: EDP's FlexGen and Clients portfolio positioned for rising flexibility demand
Iberia EDP’s FlexGen and Clients portfolio– positioned to capitalize on rising demand for flexibility Iberia EDP’s Generation mix 2026-28 EDP’s Installed capacity EBITDA avg. 2025 TWh/yr Gas Hydro pumping Hydro net of pumping GW Hydro Gas Hydro ex-pumping 17% (~8 TWh/year 2.9 normalized) 8.4 GW 12 T
Slide 20: FlexGen and Clients market environment
Iberia FlexGen and Clients market environment – increased weight of intermittent technologies in the generation mix fostering the need for FlexGen Increasing solar penetration Prices dispersion over average Ancillary services & restrictions % of total installed capacity daily hour component in final
Slide 21: Growing premium over baseload in realized prices and pumping spreads
Iberia EDP’s FlexGen and Clients portfolio– growing premium over baseload in realized prices and higher volume and spreads in pumping ~8 TWh 2.4 GW of flexible hydro generation/year, with growing value pumping capacity spread across 8 sites materialized on improved premiums over baseload Hydro reali
Slide 22: FlexGen Iberia: structural improvement in performance
Iberia FlexGen Iberia: structural improvement performance reflect growing value of Hydro and CCGTs as a key backup of competitive solar & wind FlexGen & clients integrated margin supported by higher solar penetration, backup needs FlexGen & Clients EBITDA – Iberia €/MWh sold Structural increase of F
Slide 23: Structural increase of flexibility revenues
Iberia EDP’s FlexGen and Clients portfolio – Structural increase of flexibility revenues mitigating price and volume normalization Normalized EBITDA for FlexGen and Clients in Iberia Normalized price and volume for 2026-28 levels, € Bn Normalization of prices and volumes in 2026-28 Flex. Services ma
Slide 24: Reinforced competitive positioning in retail electricity supply in Portugal
Iberia Reinforced competitive positioning in retail electricity supply in Portugal, focused on quality of service, pricing and efficiency NEW EDP commercial initiatives to improve competitiveness Key client retention initiatives delivering a clear impact EDP clients portfolio in Iberia Competitive p
Slide 25: Electricity Networks
Electricity Networks @edp
Slide 26: EDP's all-in RoRAB and regulated spreads vs. European frameworks
Iberia EDP's all-in RoRAB and regulated spreads vs. sovereign yields compare well with other European frameworks Regulated Return on RAB in Iberia: risk-adjusted benchmark vs. other EU markets Regulatory All-in RoRAB Regulated 10Y GovB Spread period (bps) (pre-tax) RoRaB1 Yield4 Portugal risk mitiga
Slide 27: Increased investment in Electricity Distribution
Iberia Electricity Networks - Increased investment in Electricity Distribution mostly driven by modernization and demand growth Ramp up in investment levels on electricity networks Equipment aging, resilience improvements, and in Iberia to meet pressing needs of the system digitalization support inv
Slide 28: Iberian electricity networks: ramp up of investments
Iberia Iberian electricity networks: Ramp up of investments supported by positive regulatory developments across all geographies Capex electricity networks Iberia, €m +28% 335 All-in Return on RAB pre-tax: ~8% for 2026-29 Approved Investment plan +66% to €3bn1 262 842 +4% Government ordered study on
Slide 29: US
Investors’ Presentation 33
Slide 30: Wind, solar & BESS leading solution to rising US electricity demand
US Wind, solar & BESS remain the leading solution to meet rising US electricity demand US power demand +200 TWh in 2026-27, to be ~90% Wind & solar: The cheapest and fastest technologies to covered by new solar & wind build new power generation capacity in US US power demand / generation growth fore
Slide 31: Positioned to capture value-enhancing growth opportunities in the US
US Strong positioned to capture new value-enhancing growth opportunities while maintaining strict risk-return discipline Despite the recent increase in avg. PPA prices, wind & solar Projects secured since “OBBB” - 4th of July 2025 continue to be the most competitive generation additions 7 PPAs, of w
Slide 32: North America high-quality portfolio and rising power prices
US North America – high-quality portfolio to capture value from surging demand and rising power prices EDPR 2025 Installed Capacity & forward prices by Repricing profile of existing fleet 2026 -35, upside potential power market1, GW $/MWh Expected recontracting PPA prices vs expected merchant prices
Slide 33: US growth visibility supported by >20 GW pipeline
US US growth visibility through post 2028 supported by >20 GW pipeline and ~6 GW safe harbored volumes EDPR has strong visibility to deliver growth, through US pipeline1 and demand growth per ISO secured volumes and quality pipeline ~1 GW of PPAs >20 GW pipeline xx Demand CAGR (2025-30) >20 GW under
Slide 34: Brazil
Investors’ Presentation 40
Slide 35: Brazil: strong electricity networks presence
Brazil Brazil – Strong electricity networks presence with supportive Macroeconomic Environment EBITDA Mix 2025 ~70% Inflation-linked Supportive regulation Electricity Networks Returns mostly benefit from High visibility, providing an inflation indexation attractive and low-risk environment ~30% Rene
Slide 36: Building long-term value in Brazil
Brazil We are building long-term value in Brazil, leveraging on positive regulatory developments and superior quality of service Concession extension contract signed for Track record of improving quality of EDP ES and EDP SP service and customer satisfaction Brazilian DisCos ranking -5% -1% 30-year
Slide 37: Positive regulatory developments in Brazil distribution
Positive regulatory developments in electricity distribution in Brazil: 30Y concession extension for EDP ES already signed Concession extension contract signed Tariff review for EDP Espírito Santo : new for EDP Espírito Santo in July-2025 regulatory period 2025-28 Preliminary regulatory parameters i
Slide 38: Breakdown by segment
Breakdown by segment @edp
Slide 39: Electricity Networks – Strong presence in Portugal, Spain and Brazil
Breakdown by segment Electricity Networks – Strong presence in Portugal, Spain and Brazil Diversified regulated Sole operator of High, Medium and Low portfolio Voltage1 Electricity Networks in mainland 10% Portugal 36% Recurring Largest Electricity Distribution operator in 29% €1.5 Bn EBITDA3, 2025
Slide 40: Electricity Networks – €3.6 Bn investment plan
Breakdown by segment Electricity Networks - €3.6 Bn investment plan driving RAB and earnings growth – increasing share of Iberia Gross Investments 2026-30 RAB1 € Bn (annual) € Bn Asset base growth mainly €3.6 Bn supported by EDP São Paulo’s new +23% 9.0 regulatory period and Transmission 2026-28 7.3
Slide 41: EDPR - High-quality portfolio of 20.4 GW
Breakdown by segment EDPR - High-quality portfolio of 20.4 GW of Wind, Solar and BESS – 85% in US and Europe, ~70% long-term contracted Installed Capacity by Region and Generation by Technology 2025 >20 years Pure renewables player with a of track record Europe 1 South America Wind Onshore North Ame
Slide 42: EDPR - €7.5 Bn investment plan
´Breakdown by segment EDPR - €7.5 Bn investment plan – ~60% in US and with optionality to capture additional growth from 2028 onwards Investments 2026-28 Capacity Additions profile € Bn GW ~5 GW Additions 2026-28 North America Offshore & Other1 South America North America South America Offshore Euro
Slide 43: Resilient low-risk portfolio with ~85% contracted or hedged generation
Breakdown by segment Resilient and low-risk portfolio with ~85% Long Term Contracted or Hedged generation and diversified across global electricity markets Expected generation split by contracting profile Low merchant exposure and diversified between regions Long Term Contracted Hedged Merchant Δ Cu
Slide 44: EDPR - Balanced technology mix
Breakdown by segment EDPR - Balanced technology mix – focused on low-risk and long term contracted, capturing market dynamics North America Europe South America APAC Solar + BESS2 Capacity Solar PV1 co-located Wind Onshore Additions Mix Route to Market Route to Market Route to Market 2026-28, % CfDs
Slide 45: EDPR - Asset rotation 2026 execution
Breakdown by segment EDPR- Asset rotation 2026 execution with significant recovery of gains, disposals focused on Brazilian operations 2 asset rotation transactions signed at historically good Disposal of Brazilian operations : Earnings enhancing, multiples and AR gains reinforcing A-rated countries
Slide 46: Upgrade of 2026 guidance for EDPR
Breakdown by segment Upgrade of 2026 guidance supported by improved asset rotation gains visibility; Advanced delivery of 2026-28 targeted additions 2026 guidance 2026-28: ~70% of ~5 GW target additions already secured 3.4 GW 285 bps APAC IRR-WACC Capacity Additions ~1.5 GW ~5% Offshore ~5% Europe ~
Slide 47: EDPR positioned to capture rising demand and drive growth
Breakdown by segment EDPR is well positioned to capture rising demand and drive sustainable and profitable growth, coupled with a robust B/S Recurring EBITDA1, Recurring Net Profit, Net Debt, ~€7.5bn gross €bn €bn €bn investments, of which ~60% in the US +13% x2 -1.6bn ~2.2 ~0.6 8.1 13-15% Equity IR
Slide 48: ESG
ESG @edp
Slide 49: Track record advancing the energy transition
ESG A track record of advancing the energy transition supported by strong community engagement and ESG performance Strong track record in the energy transition Celebrating 50 years of sustainability leadership, while earning an external global recognition 2020 2023 1H26 2028E 87% 92% >90% Renewables
Slide 50: Net Zero
ESG Sustainable development & operation of Networks and renewable assets to deliver secure, affordable and clean energy to our clients >90% 100% Net Zero renewable generation in 2026-2028 Growth CAPEX in Renewables & Networks by 2040 Focus on Strengthen local community engagement Partner with Foster
Slide 51: ESG achievements recognised by top-tier institutions
ESG ESG achievements recognised by top-tier institutions, aiming to maintain a strong position in ESG ratings performance Entity Rating Entity Rating Other Recognitions 87/100 79/100 800/900 Top 5% Top 1% (Feb-26) (Nov-25) (Jun-26) 17/100 B Low risk Industry Leader (Jun-26) (Jun-26) AAA A List on cl
Slide 52: Fixed Income
Fixed Income @edp
Slide 53: Disciplined financial policy with centralized and diversified funding
Fixed Income EDP maintains a disciplined financial policy, namely through centralized and diversified funding Centralized and diversified Green financing funding Tap most efficient markets, Centralized funding management, leveraging appetite for green funding, except for ring-fenced EDP Brasil and i
Slide 54: Prudent funding policy
Fixed Income Prudent funding policy – focus on centralized corporate debt, fixed rate and local currency Jun-2026 EDP Consolidated gross debt position Debt by interest rate type Debt mix by currency % % % Ring-fenced policy 5% EDP Brasil 10% Others “Non-recourse” to EDP Floating 22% EDPR 7% Mainly p
Slide 55: >90% green financing target
Fixed Income >90% green financing target – maintaining green funding strategy, aligned with the EU Taxonomy Strong positioning for green financing as 12% a competitive hedge 2% 4% 82% 2025 2028 Capital Markets Tap most efficient Green Financing weight 80% >90% Sources of debt markets (currently DCM)
Slide 56: Active management of liquidity position
Fixed Income Active management of liquidity position – a mix of robust credit facilities and cash Financial liquidity as of June 2026 EDP consolidated debt maturity profile as of June 2026 € Bn EDP Brasil EDP SA & EDP Finance BV and Other 1 Cash and Equivalents €3.2 Bn Available Credit Lines €7.5 Bn
Slide 57: Cost of debt increasing until 2028
Fixed Income Cost of debt increasing until 2028 due to 2026-28 maturities at extremely low rates Average cost of debt Average cost of debt EUR & USD and others EUR and USD debt maturities1 4.8% ~5.1% Year € Bn Coupon ~4.1% ~3.5% ~3.8% EDP average cost of 2026 1.9 1.7% bonds issued in 2025: • ~60% se
Slide 58: Corporate Governance
Corporate Governance @edp
Slide 59: Diversified shareholder base with reference investors
Corporate Governance Diversified shareholder base with reference investors representing >35% of the company's share capital Shareholder Structure Reference Investor Capital (%) Last update 1 22.2% 31/12/2025 22.2% 55% EDP 8.4% 2 8.4% 31/12/2025 6.8% 0.2% EDP (Treasury Stock) 3 Oppidum Capital 6.8% 3
Slide 60: Dual Model of Corporate Governance
Corporate Governance EDP has a Dual Model of Corporate Governance, ensuring separation of functions and specialization of supervision Dual Corporate Governance Model General Shareholders’ Meeting • Monitor and evaluate the management 3 of the company and the subsidiaries, Remuneration Committee prov
Slide 61: General and Supervisory Board
Corporate Governance General and Supervisory Board António Status Gender Lobo Xavier Key role linking GSB and EBD Independent Male Chair 56% 62.5% Independent Female Non- independent 37.5% 44% Shengliang Wu Guobin Qin Zhang Hui Ignacio Herrero Ruiz Miguel Pereira Leite China Three Gorges China Three
Slide 62: Executive Board of Directors
Corporate Governance Executive Board of Directors Board Tenure Gender Diversity Miguel Stilwell d’Andrade Rui Teixeira 0 to 2 Y 8 or more Y Female Chair of the EBD (CEO) Member of the EBD (CFO) 0% 40% 50% Male 50% 3 to 7 Y 75% 4 members Vera Pinto Pereira Ana Paula Marques Member of the EBD Member o
Slide 63: 1H26 Results
1H26 Results @edp
Slide 64: Upgrade of 2026 earnings guidance
Upgrade of 2026 earnings guidance (+12% vs. CMD): Outperforming execution of business plan on a context of energy transition acceleration 2026 recurring EBITDA & Net Profit guidance +12% Recurring Net Profit €1.2 -1.3 Bn €1.3 Bn ~€1.4 Bn Recurring €5.2 Bn ~€5.3 Bn Networks: Good execution of investm
Slide 65: Strong 1H26 highlights
1H26 Results Strong 1H26: improved returns and capex growth in electricity networks, renewables growth driven by US and sound performance in FlexGen Iberia 1H26 Main Highlights Financial Performance Recurring figures Electricity networks EBITDA +14% YoY, driven by new regulatory 1H26 periods in Iber
Slide 66: Recurring EBITDA +5% YoY
1H26 Results Recurring EBITDA +5% YoY with strong growth in electricity networks and EDP Renewables Other Recurring EBITDA1 ,€m 9% YoY growth, % North America Ex-FX 23% €2.7 Bn 51% Iberia +6% +5% % Weight on EBITDA ∆ YoY 17% 2,729 South America 2,598 Networks 765 874 32% +109m Iberia positively impa
Slide 67: Sustained focus on efficiency, adj. OPEX decreasing
1H26 Results Sustained focus on efficiency, with adj. OPEX decreasing 1% YoY and 4% over the last two years Recurring OPEX1 € Bn ∆ Inflation and FX adjusted2 EDPR adj. core OPEX/avg. MW -5% YoY -7% to €40k/MW -3% 0.96 0.93 0.93 Digital and AI tools supporting O&M efficiency and improved customer exp
Slide 68: Sustained focus on efficiency, adj. OPEX decreasing
1H26 Results Sustained focus on efficiency, with adj. OPEX decreasing 1% YoY and 4% over the last two years Recurring OPEX1 € Bn ∆ Inflation and FX adjusted2 EDPR adj. core OPEX/avg. MW -5% YoY -7% to €40k/MW -3% 0.96 0.93 0.93 Digital and AI tools supporting O&M efficiency and improved customer exp
Slide 69: FlexGen & Clients EBITDA performance
1H26 Results FlexGen & Clients with sound EBITDA performance, YoY comparison impacted by lower electricity prices, higher ancillary services costs FlexGen & Clients recurring EBITDA, €m YoY growth, % Iberia 1H25 1H26 -5% Avg. Pool Price Spain, €/MWh 62 50 847 ∆ YoY Brazil 808 Hydro net of pumping, T
Slide 70: Networks EBITDA +14% YoY
1H26 Results Networks EBITDA +14% YoY supported by new regulatory periods and RAB growth in Iberia and Brazil Electricity Networks Recurring EBITDA, €m YoY growth, % Iberia 1H25 1H26 YoY Electricity Distributed, TWh 30.7 31.2 +2% ∆ YoY +14% All-in RoRAB Portugal, % ~6% ~8% +197 bps 874 765 All-in Ro
Slide 71: EDPR recurring EBITDA +8% YoY
1H26 Results EDPR recurring EBITDA +8% YoY (+12% ex-forex) supported by US (higher capacity, generation and prices) and improved AR gains (mostly Italy) EDPR (Wind, Solar & BESS) recurring EBITDA, €m YoY growth, % Ex-FX 1H25 1H26 YoY ∆ YoY +12% Installed Capacity, MW 19.6 20.5 4% +8% Renewable Index
Slide 72: Net financial costs
1H26 Results Net financial costs impacted by increase of avg. cost of debt and lower capitalized expenses, offset by improvement in other financial costs Net Financial Costs Avg. nominal debt by currency €m % 470 33 30 472 Includes capitalized 67 % 65 % EUR costs and other financial costs Of which 8
Slide 73: Net debt at €17 Bn
1H26 Results Net debt at €17 Bn following annual dividend paid in May-26, asset rotation and tax equity proceeds to be concentrated in 2H26 Change in Net Debt € Bn 0.4 17.0 0.8 1.8 ~16 Bn Asset Rotation 15.4 -1.4 and tax equity EUR/BRL proceeds to be Depreciation concentrated Including in 2H26 Regul
Slide 74: Recurring underlying Net Profit flat YoY
1H26 Results Recurring underlying Net Profit flat YoY, +1% ex-FX, with strong performance from EDPR and electricity networks Recurring Net Profit1 Recurring Net Profit Ex FX €m €m Δ YoY +1% 1H26 +131 +0% EBITDA 2,729 Asset Rotation 752 753 D&A and -55 gains 0 48 976 Provisions Underlying Net EBIT 1,
Slide 75: Positive momentum: visibility on guidance post 2028
Positive momentum: Visibility on guidance post 2028 in a strategic update by 2Q27 2026 FlexGen & Clients outperforming on peak/off-peak price spreads, backup services (hydro volumes & margins) Outperformance Asset rotation execution: 2 transactions announced, gains guidance upgraded to €0.3bn vs. CM
Slide 76: Appendix
Appendix @edp
Slide 77: Integrated Electric Utility in Iberia & Brazil, key figures
Appendix Integrated Electric Utility in Iberia & Brazil, renewables 2025 developer & operator with strong presence in US and EU 33 GW Installed Capacity ~90% Renewables generation Houston Lisbon and Madrid 64 TWh Electricity Generation Europe Singapore 391,360 Electricity Networks (KM) São Paulo 12,
Slide 78: Overview of EDP's Integrated Electricity Value Chain
Appendix Overview of EDP’s Integrated Electricity Value Chain from Renewable Generation to End-User Supply and Energy Solutions Electricity generation Development & construction of renewables assets Operation & management of electricity generation assets Generation is the first activity in the value
Slide 79: Regulated networks underlying EBITDA growth 18% until 2028
Iberia Regulated networks underlying EBITDA growth 18% until 2028, based on improved final terms in Portugal, with growth visibility post 2028 EBITDA growth - from underlying 2025 to 2028 updated with final terms Growth visibility €Bn supported by approved returns and investment plans +18% 1.05 0.92
Slide 80: Focused €12 Bn investment plan
EDP at the Glance Focused €12 Bn investment plan with US renewables and Iberian Electricity Networks at the core Gross investments Net investments 1 2026-28, € Bn 2026-28, € Bn Iberia Brazil Renewables, Clients & Energy Management RoE2 Other Electricity Networks US renewables ~90% in A-rated US Flex
Slide 81: EDP Generation Assets as of 2025
Appendix EDP Generation Assets as of 2025 Installed Capacity - MW (1) Electricity Generation (GWh) Technology Dec-25 Dec-24 ∆ MW ∆% 2025 2024 ∆ GWh ∆% Wind 12,541 12,266 +274 2% 30,807 31,018 -212 -1% US 6,177 5,938 +239 - 16,151 15,917 +234 1% Portugal 1,177 1,177 - - 2,792 2,924 -132 -5% Spain 1,9
Slide 82: Electricity Networks: key drivers
Appendix Electricity Networks: Asset Customers Connected (th) Dec-25 Dec-24 ∆% ∆ Abs. RAB Dec-25 Dec-24 ∆% ∆ Abs Portugal 6,601 6,541 1% +60 Portugal (€ million) 2,995 2,971 1% +24 Very High / High / Medium Voltage 28 27 2% +1 High / Medium Voltage 1,725 1,713 1% +11 Special Low Voltage 42 41 3% +1
Slide 83: Clients & Energy Management Iberia: Key Drivers
Appendix Clients & Energy Management Iberia: Key Drivers Supply - Key Drivers and Financials 2025 2024 ∆% ∆ Abs. Portfolio of Clients (th) Electricity 4,249 4,377 -3% -129 Portugal - Liberalized 3,428 3,499 -2% -72 Portugal - Regulated 806 860 -6% -53 Spain - Liberalized 15 18 -19% -4 Gas 549 564 -3
Slide 84: Detail on US Tax Credits Profile and Accounting
Appendix Detail on US Tax Credits Profile and Accounting Annual tax credit based on generation during the first 10 years of commercial operation Standard rate $30 per MWh1 +$3 per MWh (Domestic Content) PTC Bonus adder +$3 per MWh (Energy Communities) Production Tax Credits Lower capital costs Prefe
Slide 85: OW - Top offshore player globally
OW - Top 5 offshore player globally, with a diversified geographical mix in core low-risk markets Strong portfolio of secured projects indexed to inflation Offshore Wind, GW Contracted and inflation linked Contracted revenues and Gross Net Status COD Project Technology inflation linked Capacity Capa
Slide 86: IR Contacts
IR Contacts E-mail: ir@edp.com Phone: +351 210 012 834 Site: edp.com Investor presentation 100