Slide 1: Results Presentation 1Q25
Results Presentation 1Q25 Lisbon, May 9" , . = er
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: Strong net profit +19% YoY growth to €439m in 1Q25
Strong net profit +19% YoY growth to €439m in 1Q25, backed by integrated business in Iberia driven by flexible generation 1Q25 Main Highlights Financial Performance Recurring figures Generation and supply in Iberia supported by positive impact from flexible generation 1Q25 Resilient underlying elect
Slide 4: 1Q25 and April marked by strong hydro resources
1Q25 and April marked by strong hydro resources that contributed to the strengthening of reservoir levels 1Q25 marked by hydro resources in Iberia +42% Strong rainfall in 1Q25 fostered the recovery of above average and high European gas prices hydro reservoir levels Hydro volumes Iberia (TWh) Reserv
Slide 5: Flexible portfolio increasingly relevant as solar penetration increases
Flexible portfolio increasingly relevant as solar penetration increases, fostering intra-day price volatility and need for backup services Increasing importance of Flex Gen to provide the Expansion of intra-day spreads, leading to balancing services requested by system operators improved hydro premi
Slide 6: Positive outlook for the integrated business in Iberia
Positive outlook for the integrated business in Iberia supported by flexible generation portfolio and resilient client base EBITDA 2025E integrated business in Iberia Key drivers € Bn vs. €1.0-1.1 Bn previous guidance Strong 1Q & April and reservoir levels ~93%in early May €1.1-1.2 Bn 0.3 High weigh
Slide 7: Electricity networks in Portugal
Electricity networks in Portugal: investments in the grid necessary to enhance asset modernization and the energy transition Proposal for 50% increase in HV-MV investments New regulatory period starting in 2026: in 2026-30 with favorable opinion by the regulator next milestones EDP electricity netwo
Slide 8: Electricity networks in Spain
Electricity networks in Spain: strong investment rationale and more visibility on new regulatory period expected towards the end of the year EDP consolidated its position in Spain’s electricity New regulatory period starting in 2026: networks through Viesgo acquisition, in 2020 next expected regulat
Slide 9: Electricity distribution Brazil
Electricity distribution Brazil: investment driven by strong demand growth, EDP ES with higher rate of return at 8.06% and 30Y concession extension Positive dynamics in electricity distribution in Brazil: Regulatory outlook strong demand growth support investment needs EDP Espírito Santo EDP São Pau
Slide 10: Scaling electricity transmission business in Brazil
Scaling electricity transmission business in Brazil while unlocking value through strategic asset rotation +12 transmission projects delivered over the last 9 years Asset base reflecting execution EDP’s transmission portfolio in Brazil profile Under construction Operational Sold EDP Transmission ass
Slide 11: Wind & Solar 2 GW capacity additions in 2025 on track
Wind & Solar 2 GW capacity additions in 2025 on track, limited US import tariffs exposure following supply chain strategy focused on local content Good visibility of delivery on ~2 GW of new Limited execution risk in terms of supply chain additions in 2025 and US import tariffs Breakdown of capacity
Slide 12: High focus on efficiency and adjustment of structure
High focus on efficiency and adjustment of structure to growth pace resulting on a sound OPEX performance Opex recurring1 Key metrics € Bn -8% Real Employees, #k -6% +5% Inflation 24m 13.3 12.9 12.4 -3% Nominal 0.48 1Q23 1Q24 1Q25 -2% 0.47 Installed capacity EBITDA, MW 0.46 +11% 29.1 26.3 26.5 1Q23
Slide 13: 2025 outlook supported by sound visibility on underlying performance
2025 outlook supported by sound visibility on underlying performance in all business segments, reflecting our Integrated Utility low risk profile ~€4.8 Bn Integrated generation & supply: Structural improvement of Flex Gen. activity, hydro generation above historical avg. in 1Q25 and April, high rese
Slide 14: 1Q25 Results
-1Q25 Results
Slide 15: Recurring EBITDA of €1.4 Bn, +6% YoY
Recurring EBITDA of €1.4 Bn, +6% YoY, backed by a strong integrated business and improvement of underlying EDPR performance Recurring EBITDA1 ,€m YoY growth, % ∆ YoY +6% • Integrated business benefiting from +8% 1,425 higher flex. Generation with improved 1,342 +€111m Hydro, power prices (IB electri
Slide 16: Wind & Solar EBITDA exc. Gains +20% YoY
Wind & Solar EBITDA exc. Gains +20% YoY, reflecting generation step up, after 2024 record capacity additions and improved wind resources Wind & Solar Recurring EBITDA €m YoY growth, % Exc. AR ∆ YoY 1Q24 1Q25 YoY +20% Installed Capacity1, GW 16.5 19.3 +17% +5% 454 477 Prod. deviation vs. exp. LT Gros
Slide 17: Gen. & Supply EBITDA +27%
Gen. & Supply EBITDA +27%: hydro resources contributing to improved hydro reservoirs and flex. gen offsetting lower hydro generation YoY Hydro, Clients & EM Recurring EBITDA €m YoY growth, % Iberia 1Q24 1Q25 YoY +27% ∆ YoY Hydro Generation, TWh 4.9 4.2 -13% 523 44 -10m 412 Pumping generation, TWh 0.
Slide 18: Electricity Networks EBITDA ex-AR gains stable YoY
Electricity Networks EBITDA ex-AR gains stable YoY, with consumption growth in all geographies compensating BRL FX impact Electricity Networks Recurring EBITDA €m YoY growth, % Exc. AR gain Iberia 1Q24 1Q25 YoY +1% Electricity Distributed, TWh 15.6 16.1 +3% ∆ YoY -15% 474 Exc. FX & AR gains Supply p
Slide 19: Financial costs increasing mostly on the back of higher average debt
Financial costs increasing mostly on the back of higher average debt, higher interest rates for BRL and lower capitalizations Net Financial Costs1 Avg. nominal debt by currency €m % +8% 237 219 33% 56 % 66 % EUR BRL 35% EUR, USD 67% 23 % USD 65% 15 % & Other BRL 14 % 13 % 7% Of which 5% 6% Other Sin
Slide 20: Organic Cash Flow growing in line with EBITDA
Organic Cash Flow growing in line with EBITDA reflecting underlying business performance; Slight YoY decline of capex, networks higher weight Organic cash flow Capex by segment € Bn € Bn 1.1 1.4 Including taxes, Electricity 0.2 19% payments to Networks minorities and other 0.9 0.1 60% Iberia 0.2 22%
Slide 21: Net debt increase driven by investment execution
Net debt increase driven by investment execution with asset rotation and tax equity proceeds to be more concentrated in 2H25 Change in Net Debt €100m Share buyback program executed • @€2.89 ex-dividend € Bn Includes €1.2 Bn Cash capex (of which €0.9 Bn consolidated capex • P/E 2025E: 9.9x • DY : 6.9
Slide 22: Recurring Net Profit +19% YoY
Recurring Net Profit +19% YoY backed by strong performance in integrated business and Wind & Solar underlying business Recurring Net Profit1 Recurring Net Profit €m €m Δ YoY Exc. AR gains +69% EBITDA 1,425 83 +19% D&A and 439 Provisions -463 -34 368 AR gains 108 EBIT 962 48 Net Profit Exc. AR gains
Slide 23: Closing remarks
Closing remarks
Slide 24: Closing remarks
Closing remarks Sound 1Q25 results supported by strong underlying performance: Net profit +19% YoY driven by the integrated generation & supply Iberia, improved EDPR underlying performance and resilient electricity networks. Integrated business Iberia positive outlook for 2025: strong 1Q25 and Apr-2
Slide 25: Q&A
Q&A @edp
Slide 26: EDP's ESG 1Q25 Performance
EDP’s ESG 1Q25 Performance ESG Performance 1Q25 1Q24 YoY Renewables generation (%) 91 97 -6 p.p. Environment Scope 1 & 2 emissions intensity (gCO2/kWh) 46 20 +124% Recovered waste (%) 90 94 -4 p.p. Women employees (%) 29 29 - Social Fatal work-related injuries (#) 0 1 -1 Investment in communities (€
Slide 27: IR Contacts
IR Contacts E-mail: ir@edp.com Phone +351 210 012 834 Site: www.edp.com