Enel Americas S.a. · BCS:ENELAM
Enel Americas — Q1 2026 Earnings Presentation
33 slides from Enel Americas's earnings presentation, Apr 30, 2026
Slide 1: Enel Américas First Quarter Consolidated results
First Quarter Enel Américas Consolidated results April 30th, 2026
Slide 2: Key highlights and operational performance
Q1 2026 Key highlights and operational performance Giuseppe Turchiarelli CEO
Slide 3: Q1 2026 Key highlights
Q1 2026 Key highlights Investments Investments aligned with Strategic Plan goals CAPEX +4% increase on investments, aligned with implemented tariff scheme USD 0.45 bn Grids CAPEX increased 42% mainly focused on digitalization and resilience +10% YoY Lower investments execution due to completion of G
Slide 4: Regulatory scenario
Regulatory scenario Key recent and expected developments for our main markets Relevant topics Framework agreement signed with the Energy Secretariat, recognizing electricity consumption in low-income neighborhoods, with compensation of energy purchases from CAMMESA from 2024 to March 2026. This repr
Slide 5: Gross CAPEX
Gross CAPEX Focus on Grids aligned with Strategic Plan goals; Brazil leads CAPEX growth CAPEX by country and business1 Grids CAPEX breakdown2 Networks upgrade 1% growth 11% 12% +50% YoY 21% 33% 37% USD 446 mn USD 446 mn USD 391 mn (+10% YoY) (+10% YoY) (+30% YoY) 68% 88% 30% Argentina Colombia Grids
Slide 6: Grids operational highlights
Grids operational highlights Continued deployment of smart meters reinforcing our digitalization efforts Electricity distributed (TWh) Grids customers (mn) Quality indicators2 SAIDI (hours) SAIFI (times) +2% +377k Q1 2025 Q1 2026 Q1 2025 Q1 2026 Edesur 16.5 17.5 8.2 9.3 22.7 23.1 27.6 28.2 Enel São
Slide 7: Installed capacity & net production
Installed capacity & net production Lower hydro generation in Colombia and lower wind resources in Brazil Net installed capacity (GW) Net production1 (TWh) Enel Américas1 Colombia & Capacity Brazil 96% by country Central America 4% renewables -8% -28% 6.6 GW 9.6 Curtailment 0.8 0.6 - - 0.2 8.8 (TWh)
Slide 8: Energy balance
Energy balance Lower sales mainly explained by lower production and lower trading activity Energy balance (TWh) Enel Américas1 -8% Colombia & 12.0 12.0 Brazil Central America 0.3 11.0 11.0 2.4 0.1 -9% -5% 2.1 6.8 6.8 6.3 5.1 0.1 6.2 6.2 5.2 5.2 5.0 5.0 1.9 0.3 0.5 0.4 0.2 0.5 1.5 1.3 1.1 5.0 4.0 9.6
Slide 9: Economic and financial performance
Q1 2026 Economic and financial performance Rafael de la Haza CFO
Slide 10: Financial highlights
Financial highlights EBITDA growth led by Grids in Argentina, Brazil and Colombia EBITDA Net income FFO (USD bn) (USD bn) (USD bn) +16% +9% -84% 1.2 1.0 0.3 0.5 0.2 0.1 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 EBITDA increase mainly due to higher tariff Net income improvement on higher EBITDA
Slide 11: EBITDA breakdown: Q1 2026 results
EBITDA breakdown: Q1 2026 results Growth in Grids positive Fx dynamics boosted EBITDA EBITDA evolution by business line (USD mn) EBITDA breakdown 5% +16% 1% 5% Argentina +5% Brazil 1,174 USD Colombia 50% 1,070 103 1,174 mn Peru 1,015 (4) 39% 124 C. America (64) 1% 34% Grids USD Integrated business 1
Slide 12: Cash flow (USD bn)
Cash flow (USD bn) Positive FFO despite NWC pressure in Brazil 1.17 (0.79) (0.18) (0.13) 0.08 (0.45) (0.37) 1 2 3 4 EBITDA NWC Taxes paid Net financial FFO CAPEX FCF expenses Q1 2025 1.02 (0.34) (0.10) (0.10) 0.47 (0.41) 0.06 Rounded figures. (1) Net working capital; (2) Funds from operations; (3) C
Slide 13: Debt (USD bn)
Debt (USD bn) Net debt increase due to Fx appreciation, dividend payments and negative FCF Gross and net debt1 Net debt evolution Gross debt breakdown +8% +17% 9% 3% 7.4 1% 6.8 BRL Currency 1.7 USD COP 2.0 5.6 52% USD 4.8 0.1 0.4 7.4 bn 0.4 36% ARS PEN 5.6 4.8 3% 8% 1% Brazil Dec. 25 Mar. 26 Dec. 25
Slide 14: Closing remarks
Closing remarks Continued capital allocation in Grids at the core of our 1 strategy Strong results led by Grids across all countries and currency 2 appreciation Focus on regulatory advocacy efforts to ensure business 3 continuity 14
Slide 15: Q1 2026 Annexes
Q1 2026 Annexes enel
Slide 16: Current scenario
Current scenario Local currencies, inflation, electricity distributed and interest rates Macroeconomic variables1 Electricity distributed Interest rates Local currencies Inflation3 vs USD ∆% Q12 March March ‘26 vs ‘25 2025 2026 Argentina 0.4% March March Argentina -29% 55.9% 32.6% 2025 2026 Brazil 1
Slide 17: Operating exhibits: Distribution companies
Operating exhibits Distribution companies Energy sold SAIDI SAIFI Energy Concession Next tariff Distributor Clients City, Country LTM (GWh) (hours) (times) losses (%) area (km2) review Edesur 2,745,351 17,670 17.5 9.3 17.5% Buenos Aires, Argentina 3,309 2030 Enel Ceará 4,352,503 15,976 8.8 4.7 18.0%
Slide 18: Operating exhibits: installed capacity and production
Operating exhibits Net installed capacity & Total net production: Breakdown by source and geography Net installed capacity (MW) MW Hydro Wind Solar CCGT Coal Total Argentina 0 0 0 0 0 0 Brazil 1,273 3,506 1,844 0 0 6,622 Colombia 3,097 0 1,148 0 224 4,470 Central America 543 0 162 0 0 705 Peru 0 0 0
Slide 19: Financial exhibits
Financial exhibits Reported results Q1 2026 Q1 2025 ∆YoY Revenues 3,924 3,297 +19% Gross Margin 1,647 1,428 +15% OPEX (473) (413) +15% Reported EBITDA 1,174 1,015 +16% D&A1 (408) (361) +13% EBIT 766 654 +17% Net financial results (150) (163) -8% Non operating results 0 (1) <-100% EBT 616 489 +26% In
Slide 20: Grids business results
Grids business results Quarterly results Q1 EBITDA evolution (USD mn) YTD EBITDA by country (USD mn) +30% 798 8% 613 31% 798 (+30% YoY) 61% Q1 2025 Q1 2026 Argentina Brazil Colombia 20
Slide 21: Generation business results
Generation business results Quarterly results Q1 EBITDA evolution (USD mn) YTD EBITDA by country (USD mn) -6% 407 382 14% 29% 382 (-6% YoY) 57% Q1 2025 Q1 2026 Brazil Colombia C. America 21
Slide 22: Argentina (USD mn)
Argentina (USD mn) Quarterly results Generation1 Grids1 Total2 Q1 2025 Q1 2026 % Q1 2025 Q1 2026 % Q1 2025 Q1 2026 % Revenues 13 2 -87% 410 419 2% 423 421 0% Procurements -1 0 -87% -276 -265 -4% -277 -265 -4% and Services OPEX -3 -2 -33% -112 -90 -20% -115 -92 -20% EBITDA 9 0 <-100% 22 65 >100% 31 6
Slide 23: Brazil (USD mn)
Brazil (USD mn) Quarterly results Generation1 Grids1 Total2 Q1 2025 Q1 2026 % Q1 2025 Q1 2026 % Q1 2025 Q1 2026 % Revenues 295 446 51% 1,577 2,018 28% 1,875 2,449 31% Procurements -136 -301 >100% -1,012 -1,299 28% -1,142 -1,579 38% and Services OPEX -29 -35 21% -176 -230 31% -223 -283 27% EBITDA 130
Slide 24: Colombia (USD mn)
Colombia (USD mn) Quarterly results Generation1 Grids1 Total2 Q1 2025 Q1 2026 % Q1 2025 Q1 2026 % Q1 2025 Q1 2026 % Revenues 411 383 -7% 540 629 16% 899 961 7% Procurements -176 -130 -26% -301 -334 11% -423 -413 -2% and Services OPEX -22 -35 59% -39 -50 30% -61 -86 40% EBITDA 213 218 2% 200 245 22%
Slide 25: Central America (USD mn)
Central America (USD mn) Quarterly results Central America Q1 2025 Q1 2026 % Revenues 83 76 -9% Procurements -20 -13 -34% and Services OPEX -7 -8 5% EBITDA 56 55 -1% Net Income 29 27 -6% Gross Capex 1 2 30% Net Production 733 717 -2% (GWh) Energy Sales 888 829 -7% (GWh) 25
Slide 26: Peru (USD mn)
Peru (USD mn) Quarterly results Peru Q1 2025 Q1 2026 % Revenues 18 16 -8% Procurements -7 -7 -5% and Services OPEX -3 -2 -30% EBITDA 8 8 -4% Net Income 10 4 -61% Gross Capex 0 2 >100% Net Production 75 74 -1% (GWh) Energy Sales 107 87 -19% (GWh) 26
Slide 27: Consolidated financial position
Consolidated financial position Liquidity, debt maturities and credit profile Liquidity position Debt maturities (USD bn) Credit profile Average maturity of Baa3/Negative 3.2 3.3 years (April 2026) 40% 2.3 BB+/Stable (April 2026) USD 2.9 bn 60% 1.0 0.9 BBB+/Stable (March 2026) 2026 2027 2028 After 2
Slide 28: Corporate governance structure
Corporate governance structure Shareholders’ meeting Audit firm 29% BoD’s composition 14% Board of Directors 57% (7 members) Executive of the Enel Group Independent Non-executive elected by Enel SpA Functions: Directors Committee Audit committee Sustainability committee Related parties' transactions
Slide 29: Board composition
Board composition Board of Directors Board of Directors’ diversity Borja Acha Besga Chairman 14% Luca Lo Voi Director Gender diversity Roberto Deambrogio Director 86% Male Female Director José Antonio Vargas Directors’ Committee 14% 14% Britaldo Soares Director 14% 14% 29% Tenure Nationality diversi
Slide 30: Policies, principles and codes
Enel Américas - Policies, principles and codes Ethics, Integrity, Human Rights, and Diversity • Ethical code • Zero Tolerance Plan for Corruption • Global Compliance Program on Corporate Criminal Liability • Criminal Risk Prevention Model • Compliance Program for Free Competition Regulations • Human
Slide 31: Disclaimer
Q1 2026 Consolidated results Disclaimer This presentation contains statements that could constitute forward-looking statements. These statements appear in a number of places in this presentation and include statements regarding the intent, belief or current expectations of Enel Américas and its mana
Slide 32: Contact us
Q1 2026 Consolidated results Contact us Contacts Email - ir.enelamericas@enel.com Channels Website Mobile App www.enelamericas.com Enel Américas Jorge Velis Head of Investor Relations Download App iOS Android Investor Relations team Nicolás Gracia Claudio Ortiz Sebastián Cisternas Francisco Basauri
Slide 33: CNC
CNC