Slide 1: 4Q25 Earnings Presentation
4Q25 March 26, 2026 EQTL B3 LISTED NM GRUPO
Slide 2: Disclaimer
Disclaimer Disclaimer This presentation may contain forward-looking statements, which are subject to risks and uncertainties, as they were based on the expectations of the Company’s management and on available information. These prospects include statements concerning the Company’s current intension
Slide 3: 2025 Highlights
2025 Highlights Consolidated Adjusted EBITDA Distinctions R$ 12.2 billion (+11.6% vs 2024) Consolidated Adjusted EBITDA – Same Assets¹ R$ 10.9 billion (+14.3% vs 2024) ¹Excluding Effects from Transmission and SABESP Equity Consolidated Energy Losses Consolidated Investments Meeting regulatory levels
Slide 4: 4Q25 Highlights
4Q25 Highlights Financial Adjusted EBITDA – Same Assets¹ Investments R$ 3.5 billion (+20% vs 4Q24) R$ 2.9 billion (+8.6% vs 4Q24) ¹Excluding Transmission effects Transmission Sales Closing Cash for the period R$ 2.2 bilion – capital gain R$ 11.2 billion, 2.5x short-term debt R$ 6.4 billion – equity
Slide 5: Principal Non-Recurring Adjustments (4Q25)
Principal Non-Recurring Adjustments (4Q25) Transmission sales closing 1 Capital Gain: R$ 2.2 billion 2019 Piauí RTE EBITDA: R$ 212 million 2 Net Financial Result: R$ 188 million EBT: R$ 400 million Contingencies Effect GO + PPA EBITDA: R$ 42 million 3 Net Financial Result: R$ 57 million EBT: R$ 99 m
Slide 6: Consolidated Financial Performance
CONSOLIDATED FINANCIAL PERFORMANCE 6
Slide 7: Economic and Financial Performance
IPCA: 4.26% Economic and Financial Performance Macro Index 12 months IGPM: -1.05% SELIC: 15% Adjusted Results Debt and Investments +5.8% / +12.7% Net Debt and Covenants 4,462 +10.5% / +20% 23 R$ Billion 274 24 1,156 1,234 3,204 4 253 40 3.3x 3.3x Term and Average Cost 4,188 4,719 3 3,541 30 2.6x 2,9
Slide 8: Distribution
GRUPO -equatérial-
Slide 9: Distribution – Main Indicators
Distribution – Main Indicators Macro Index 12 months IPCA: 4.26% IGPM: - 1.05% SELIC: 15% Performance of Injected and Measured Energy Adjusted Gross Margin Consolidated (GWh) (R$ Million) +5.7% 20,9% +14.2% +5.0% (+541) 18.3% 18.1% 4,353 3,812 1 205 163 46 38 79 9 18,873 19,952 15,564 16,336 4Q24 Gr
Slide 10: Quality Indicators
Quality Indicators DEC Reduction of DEC across all DisCos (vs. 4Q24) Sets within the DEC limit and deadlines % 4Q24 4Q25 Regulatory Contractual Waiver Reported (2025) -6.5 92% AP 80% 80% -3.6 -3.6 -6.0 -9.0 81% -0.2 -3.2 34.5 PA 76% 80% 18.8 28.0 19.4 21.0 19.9 15.8 17.4 15.9 13.4 13.2 13.9 12.7 64%
Slide 11: Other Segments
GRUPO -equatérial- 11
Slide 12: Other Segments
Other Segments Sanitation Renewables Adjusted EBITDA R$ Million Adjusted EBITDA -6.0% +465.5% R$ Million – 229.2 215.3 Billed Economies Echoenergia + Renewables 7.9 in water and sewage 1.4 115.4 k, +1% vs 4Q24 4Q24 4Q25 4Q24 4Q25 Constrained-off Impact since 2023 % and financial impact Water Coverag
Slide 13: Grupo Equatorial
GRUPO -equaterial-
Slide 14: ri@equatorialenergia.com.br
ri@equatorialenergia.com.br