Engie Brasil Energia S.a. · BMFBOVESPA:EGIE3
Engie Brasil Energia — Q3 2025 Earnings Presentation
40 slides from Engie Brasil Energia's earnings presentation, Nov 6, 2025
Slide 1: ENGIE Brasil Energia S.A.
ENGIE Brasil Energia S.A. November 5, 2025
Slide 2: Forward-looking statements disclaimer
2 This publication may include forward-looking uncertainty surrounding the results of its future This material includes forward-looking statements statements on events or results pursuant to operations, plans, objectives, expectations and as to events subject to risks and uncertainties, Brazilian an
Slide 3: Contents
CONTENTS HIGHLIGHTS AND ESGKPI’S OPERATING HIGHLIGHTS | ENERGY SALES | EXPANSION FINANCIAL PERFORMANCE SUPPORTING DATA
Slide 4: Highlights and ESG KPI's
AS] HIGHLIGHTS AND _* __sESGKPrs Trairi Wind Complex
Slide 5: Highlights and ESG KPI's
5 • Serra do Assuruá Wind Complex: 100% • The acquisition of the Santo Antônio do Jari and physical progress, being 88% commercially Cachoeira Caldeirão hydropower plants has operating and 12% under test. been completed, with a total installed capacity of 612 MW and 334 avg. MW of commercial capacit
Slide 6: Main drivers of the result vs. 3Q24
6 Adjusted Ebitda1 (R$ million) Main drivers of the result vs. 3Q24: R$ 179 million Generation Segment R$ 43 million Transmission Segment R$ 16 million Result of equity income (TAG) Adjusted Net Income (R$ million) R$ 83 million Depreciation and amortization R$ 79 million Financial Result R$ 21 mill
Slide 7: Emissions intensity and ESG indicators
7 % OF WOMEN IN THE WORKFORCE AND HEALTH AND SAFETY – FREQUENCY RATE (OWN LEADERSHIP POSITIONS EMISSIONS INTENSITY1 (tCO2e/MWh) EMPLOYEES + SERVICE PROVIDERS)* *Source: Ministry of Science, Technology and Innovation * Nº of accidents / millions of hours of exposure to the risk SOCIAL RESPONSABILITY
Slide 8: Operating Highlights
OPERATING HIGHLIGHTS w= Umburanas Wind Complex / BA
Slide 9: Operating highlights
9 Note: Considering programmed and forced stoppages. Results Presentation 3Q25 ENGIE Brasil Energia S.A.
Slide 10: % of Curtailment over Generation – 3Q25
10 % of Curtailment over Generation – 3Q25 (avg MW) % of Curtailment* per source - ENGIE • Curtailment in 3Q25 in line with National Integrated System (SIN). 3Q25 Wind Solar Total • Organic growth in wind and solar generation with entry into commercial operation of the ENGIE 19% 36% 24% Serra do Ass
Slide 11: Gross Power Generation
11 Gross Power Generation (avg MW) Generation by Complementary Source (avg MW) Results Presentation 3Q25 ENGIE Brasil Energia S.A.
Slide 12: Energy Sales
3 Gralha Azul Transmission System/ PR
Slide 13: Energy Balance
13 Energy Balance (% of total; in aMW) | as of September 30, 2025 Uncontracted energy compared to the availability of a given period Evolution of the number of free customers and consumer units 2,056 4,590 (+17.6% compared to 3Q24) (+23.7% compared to 3Q24) Number of free consumers in Consumer Units
Slide 14: Expansion
4 Serra do Assuruá Wind Complex / BA
Slide 15: Serra do Assuruá Wind Complex – Gentio do Ouro (BA)
15 Gentio do Ouro (BA) Total Installed Start of Capacity: Construction: ~846 MW 2023 Commercial Operation: Wind turbines commissioning evolution Capacity: Gradual 410.2 aMW 3Q24-4Q25 Overall physical progress: 100% Investment Nº of turbines: (R$ mm)1: 188 Assembly and commissioning ~R$ 6,000 (4.5 MW
Slide 16: Assú Sol Photovoltaic Complex (RN)
16 Assú (RN) Total Installed Start of Capacity: Construction: Plants commissioning evolution ~752 MWac 3Q23 (~895 MWp) Commercial Operation: Capacity: Gradual 229.6 aMW 4Q24-1Q26 Investment 2.3k – inverters Progress of installation activities: 99% (R$ mm)1: 13.6k – trackers ~R$ 3,300 1.5M - modules
Slide 17: Asa Branca Transmission System
17 Strategic location for seamless flow of renewable Asa Branca energy from Northeast to the (BA, MG, ES) Southeast and Midwest regions. Contracted Concession RAP1: period: R$ 282.7 30 years million Capex Aneel2: Deadline to start BA R$ 2,667 operation: million March 2029 (66 months) Works on the LT
Slide 18: Graúna Transmission System
18 Operational synergies with BA Graúna (SC, PR, assets located in Paraná, SP, MG, ES) Santa Catarina, Minas Gerais and Espírito Santo. Contracted Concession GRAÚNA RAP1: period: R$ 268.3 30 years MG million ES Capex Aneel2: Deadline to start SP R$ 2,933.6 operation: Negotiation of Main Supply PR mi
Slide 19: Jirau HPP and PPAs Portfolio
19 Jirau HPP Production (average MW) PPAs Portfolio (average MW) Installed Physical Guarantee2: Capacity: 2,182 aMW – 90m extended 3,750 MW 2,257 aMW – 90m constant Uptime operating factor 3Q25: 50 Generating 75 MW Units each GU 100%1 Shareholding Structure 40% 20% Notes: 1 Subject to final CCEE boo
Slide 20: Generation and Transmission Projects
1 20 B 2 6 4 5 3 A C Generation D 1 Santo Agostinho Wind Installed 279 MW Complex (Fase II) – RN capacity: A Serra do Assuruá Installed capacity: 846.0 MW D Wind Complex – BA Commercial capacity: 410.2 aMW Santo Agostinho Installed 2 Photovoltaic Complex – capacity: ~509 MW RN Assú Sol Photovoltaic
Slide 21: Financial Performance
5 Estreito Hydro Power Plant / TO/MA
Slide 22: From 2016 – 2024
From 2016 – 20243 22 Good portfolio management and diversification into other regulated segments, such as transmission, natural gas transportation and energy contracts in the ACR, result in stability and predictability of results. These areas combined represent about 65% of Investments: Proprietary
Slide 23: Generation and portfolio sale, Trading, Transmission
23 Generation and portfolio sale Trading Transmission Results Presentation 3Q25 ENGIE Brasil Energia S.A.
Slide 24: TAG Income Statement
24 TAG Income Statement (R$ million) Stake of 17.5% in TAG, resulting in the contribution of R$ 166 million through equity income to the Company’s Ebitda in 3Q25. 166 Contribution to Ebitda Results Presentation 3Q25 ENGIE Brasil Energia S.A.
Slide 25: Adjusted Ebitda by segment
25 Generation and trading1 Equity income (TAG) Transmission Notes: 1 Considering the result from generation and trading segments. *IFRS: International Financial Reporting Standards Adjusted Ebitda: net income + income tax and social contribution + financial result + depreciation and amortization + n
Slide 26: Results Presentation 3Q25 ENGIE Brasil Energia S.A.
26 Results Presentation 3Q25 ENGIE Brasil Energia S.A.
Slide 27: Debt Overview
27 DEBT OVERVIEW (R$ MILLION) 29,668 4,626 Debt control, active management of debt 24,442 508 24,534 costs and successful 20,905 investment decisions 18,150 3.8x Total Debt / Ebitda3 ensure balanced levels 3.3x 3.2x (R$ million) of the Net Debt/Ebitda 2.6x 2.9x 2.7x ratio. 2.1x 2.3x 2022 2023 2024 3
Slide 28: Maturity debt schedule and breakdown of debt
28 MATURITY DEBT SCHEDULE (R$ MILLION) BREAKDOWN OF DEBT 58% AAA rating and robust cash generation translate into IPCA competitive costs of debt for financing growth. 36% CDI Average debt term: 7.2 years 6% TJLP 3Q25: Nominal cost of debt: 12.0% p.a. (equivalent to IPCA + 6.4%) 3Q24: 10.3% p.a. - eq
Slide 29: Allocated/expected capex and financing resources
29 ALLOCATED/EXPECTED CAPEX AND CORRESPONDING FINANCING RESOURCES (R$ MILLION) The expansion plan and maintenance CAPEX 7,217 7,270 7,367 6,941 are supported by a strong cash flow generation and prudent funding strategy. Adjusted Ebitda ’ Debt funded1 Note: 1 Does not consider interests incurred dur
Slide 30: Dividends
30 DIVIDENDS (BASED ON DISTRIBUTABLE NET INCOME) • By-law minimum payout: 30% of distributable net income • Management Commitment: minimum 8.6% 9.2% 8.1% 5.6% 5.6% 6.1% 5.7% 6.2% payout of 55% of 3.7% 3.5% 1 1 2.3% distributable net income 5 • Frequency: biannual Dividend per Share2 (R$) Payout3 Div
Slide 31: Supporting Data
6 Assú V Photovoltaic Complex / BA
Slide 32: Consolidated results (R$ million)
32 Consolidated (in R$ million) 3Q25 3Q24 Chg. 9M25 9M24 Chg. Net Operating Revenue (NOR) 3,343 2,537 31.8% 9,442 7,948 18.8% Results from Operations (EBIT) 1,527 1,382 10.5% 4,790 5,997 -20.1% 1 Ebitda 1,882 1,654 13.8% 5,797 6,780 -14.5% Adjusted Ebitda 2 1,871 1,665 12.4% 5,778 5,432 6.4% 3 Notes
Slide 33: Installed capacity by plant
33 Hydro Power Plants Installed Capacity (MW) Commercial Capacity (aMW) Installed Capacity Commercial Capacity Complementary Plants 1 (MW) (aMW) Salto Santiago 1,420.0 702.2 2 14 Serra do Assuruá Complex (Wind) 742.5 366.4 Itá 1,126.91 528.71 3 Salto Osório 1,103.7 487.3 15 Assú Sol Complex (Solar)
Slide 34: Energy resources and sales by auction
34 (in average MW) 2025 2026 2027 2028 2029 2030 Own Resources 4,794 5,193 5,207 5,206 5,207 5,166 Auction Reference Gross Price Net Price of + Purchases for Resale 780 500 376 353 226 204 Gross Price Date Adjusted PIS/COFINS/P&D = Total Resources (A) 5,574 5,693 5,583 5,559 5,433 5,370 (R$/MWh) (R$
Slide 35: TAG gas pipelines and market liberalization
Protagonism for the liberalization of the gas market: access of important players to the 35 transport network 24 clients (include 534 firm contracts signed Petrobras) from 21 in 2025 (55 active until different economic groups. September 30, 2025. Contracted % of Net Gas Length Agreement Readjustment
Slide 36: Debt Profile – TAG
36 Debt Profile (R$) – TAG as of September 30, 2025 10.6 billion1 7.2 billion Domestic market: Foreign market: 1st Debentures (Jun/19 to Jun/26): CDI + 1.80% p.y., with semi-annual amortizations Bank Loan (Jun/19 to Jun/31): 2nd Debentures (Dec/23 to Dec/33): SOFR + spread between 2.5% and 3.3% IPCA
Slide 37: Number of employees
37 Number of employees By gender By age group By academic qualifications Note: 1Does not consider employees posted to projects under construction. Results Presentation 3Q25 ENGIE Brasil Energia S.A.
Slide 38: ESG performance indicators
38 Unit of Performance Performance Performance Performance Aspect Theme Change Change measurement 3Q25 3Q24 9M25 9M24 Emissions intensity by energy generation tonCO2e/MWh 0.0018 0.0016 14.0% 0.0022 0.0018 20.0% Emissions intensity by revenue tCO2e/million R$ 7.4 8.8 -15.9% 7.9 9.4 -16.0% Total emiss
Slide 39: Investor Relations Team
Investor Relations Team Investor Relations Manager Sustainability Analyst Chief Executive Officer leonardo.depine@engie.com caio.miralles@engie.com Investor Relations Analyst Investor Relations Analyst Chief Financial and Investor raquel.suzaki@engie.com adriana.wagner@engie.com Relations Officer In
Slide 40: www.engie.com.br
EeE=_— CNGiIC www.engie.com.br