Slide 1: Results Presentation 1H24
Results Presentation 1H24 Lisbon, July 30" Alona Tension ie Baal
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: 1H24 Main Highlights
Net Profit +50% YoY growth to €775m in 1H24, reflecting strong generation and supply business in Iberia and lower minorities in Brazil 1H24 Main Highlights Financial Performance Renewables weight on total generation output at 98% in 1H24, Recurring figures with renewables generation increasing 20% Y
Slide 4: Hydro Resources in 1H24
Hydro resources in 1H24 +40% above average, driving outstanding increase in hydro generation in 1H24 Hydro generation +2.7 TWh above expected and While reservoirs remain above average +2.8 TWh YoY following strong hydro resources Hydro generation in Iberia net of pumping (TWh) Reservoir levels in Po
Slide 5: Electricity Wholesale Price Evolution
Electricity wholesale price evolution supports the delivery of our guidance in 2025-26 2025-26 forward prices aligned with guidance assumptions presented in May-24 2025-26 forward electricity wholesale price Iberia €/MWh 2024 ~80% of volumes for 2024 hedged at ~€90/MWh 74 66 Integrated generation an
Slide 6: Investing in our electricity networks portfolio
Investing in our electricity networks portfolio, with positive developments for the renewal of distribution concessions in Brazil Growing our regulatory asset base in electricity Positive developments in Brazil: Publication of networks decree for the renewal of distribution concessions 5.6% RoRAB 7.
Slide 7: Pursuing our Asset Rotation Strategy
Pursuing our Asset Rotation strategy with a strong execution in 1H24; Wind & Solar operational execution on track to meet 2024-26 targets Asset Rotation Proceeds Renewables growth execution on track to € Bn deliver targeted additions for 2024-2026 EV/ 1.5 2.0 MW Capacity additions +3.1 GW YoY (+1.0
Slide 8: Continuing our path to lead the energy transition
Continuing our path to lead the energy transition: high share of renewables in total generation and EU taxonomy aligned capex EDP’s total electricity generation mix Key emissions & EU Taxonomy metrics 97.2% +20%. 30 Renewables 25 Generation, TWh TWh TWh Investments focused on (+0.2p.p. YoY) renewabl
Slide 9: 1H24 Results
1H24 Results Alionga Tronsmiasion ine, Brozil
Slide 10: Recurring EBITDA of €2.7 Bn, +8% YoY
Recurring EBITDA of €2.7 Bn, +8% YoY, impacted by strong hydro volumes, different timing of AR gains, mitigating the impact from coal deconsolidation Recurring EBITDA1 ,€m YoY growth, % • Integrated business YoY comparison ∆ YoY impacted by coal deconsolidation +8% (~€66m in 1H23 vs. 0 in 1H24) -€84
Slide 11: Wind & Solar EBITDA +27% YoY
Wind & Solar EBITDA +27% YoY: ~€171m AR gains in 1H24 vs. absence of gains in 1H23 Wind & Solar Recurring EBITDA2 €m YoY growth, % Exc. AR ∆ YoY 1H23 1H24 YoY +4% Installed Capacity1, GW 15.2 16.6 +10% +27% 968 Prod. deviation vs. exp. LT Gross -5% 0% +5 p.p. Capacity Factor, % 764 171 +171m Electri
Slide 12: Gen. & Supply EBITDA impacted by coal deconsolidation
Gen. & Supply EBITDA impacted by coal deconsolidation; In Iberia, lower pool prices offset by higher hydro volumes Hydro, Clients & EM Recurring EBITDA €m YoY growth, % Exc. coal Iberia 1H23 1H24 YoY -4% -10% ∆ YoY Hydro coefficient in Portugal, avg.=1 0.79 1.40 77% 977 Coal 66 879 Hydro Generation,
Slide 13: Electricity Networks EBITDA +15%
Electricity Networks EBITDA +15% on the back of asset rotation gain from transmission deal in Brazil Electricity Networks Recurring EBITDA €m YoY growth, % Exc. AR gain Iberia 1H23 1H24 YoY +6% Return on RAB Portugal , % 5.56% 5.55% 1 bps +15% ∆ YoY 838 Regulated revenues Portugal, €m 537 563 5% 726
Slide 14: Financial costs YoY impacted by settlement
Financial costs YoY impacted by settlement of US dollar pre-hedge in 1H23; Avg. cost of debt decreasing due to the decline of USD and BRL debt weight Net Financial Costs1 Avg. nominal debt by currency €m % +8% 443 411 46 % 58 % EUR 35 % USD 22 % 1H23 1H24 BRL 13 % 13 % 6% 6% Other Avg. Cost 1H23 1H2
Slide 15: High financial liquidity at €9 Bn
High financial liquidity at €9 Bn supported by >€7bn of available credit lines, covering refinancing needs until 2027 Financial liquidity EDP consolidated debt maturity profile1 as of 1H24, €Bn as of 1H24, €Bn Cash & Equivalents 1.9 EDP Brasil EDP SA & EDP Finance BV and Other (% of total debt) Avai
Slide 16: Lower-than-expected electricity prices in 1H24
Lower-than-expected electricity prices in 1H24 increasing RR; Extraordinary tariff update from Jun-24 onwards set to stabilize RR stock in the B/S Regulatory Receivables in balance sheet (€m) Deficit Securitizations (€Bn) 0.6 0.6 0 2.0 0.2 RR in Portugal increased in 1H24 from lower wholesale electr
Slide 17: Net debt increase reflecting the funding of investments
Net debt increase reflecting the funding of expansion investments and dividend payment Change in Net Debt € Bn Net Debt/EBITDA(1) 3.3x 3.7x FFO/Net Debt(2) ~21% Full payment of ~19% annual dividend in May ‘24 17.4 17.1 0.0 0.4 15.3 1.9 1.0 0.4 0.8 Net Debt Organic CF Dividend Regulatory Net cash FX
Slide 18: Net Profit of €775m, +50% YoY
Net Profit of €775m, +50% YoY reflecting the timing of AR gains and lower minorities in Brazil post minorities-buyout Recurring Net Profit1 Recurring Net Profit €m €m Exc. AR gains Δ YoY +15% EBITDA 2,670 206 +50% 775 D&A and Provisions 858 2 517 184 AR gains EBIT 1,812 208 591 Net Profit Exc. AR ga
Slide 19: Closing remarks
Closing remarks Alionga Tronsmiasion ine, Brozil
Slide 20: Closing remarks
Closing remarks Sound 1H24 results, with +50% net income growth YoY enhanced by sound generation & supply business in Iberia, growth in renewables and EDP Brasil minorities buyout, support the reiteration of our €1.3 Bn net income guidance for 2024. Electricity networks portfolio providing stable lo
Slide 21: Q&A
Q&A @edp
Slide 22: EDP's ESG 1H24 Performance
EDP’s ESG 1H24 Performance 1H24 1H23 YoY 2026 target Renewables generation (%) 98 87 +11 p.p. 93 Scope 1 and 2 emissions intensity (gCO2/kWh) 19 84 -77% 36 Environment Capex aligned with EU taxonomy (%) 97.2 97.0 +0.2 p.p >98 Total recovered waste (%) 93 96 -3 p.p. 90 Clients with electric mobility
Slide 23: IR Contacts
IR Contacts E-mail: ir@edp.com Phone +351 210 012 834 Site: www.edp.com