Companhia Paranaense De Energia · BMFBOVESPA:CPLE3
Companhia Paranaense De Energia — Energy Co of Parana — 4Q24 Earnings Presentation
49 slides from Companhia Paranaense De Energia's earnings presentation, Feb 28, 2025
Slide 1: Results
RESULTS
Slide 2: 4Q24 Highlights
.y 4 ¥¥ copet 4Q24 Highlights = Additional dividends of R$ 1.3 billion for deliberation at the AGM of April 24, 2025 — R$ 2,3 bi in 2024 and Payout 86%" = Adjusted EBITDA of R$ 1.3 billion in 4Q24 and R$ 5.1 billion in 2024 = Net Income? of R$575 million in 4Q24 and R$2.8 billion in 2024 (+20.3% vs
Slide 3: Message from the CEO
4 3¥ copet Message from the CEO ‘The year 2024 was the fist in which Cope! operated entirely as 2 corporation. In a period marked by an intense pace of work, significant progress was made, demonstrating our ‘execution capability and consistency in deliveries, As a milestone in our organizational cul
Slide 4: Message from the CEO (continued)
4 3¥ copet largest energy traders in Brazil for the fourth consecutive year, leveraging market volatility to increase the contracted eneray level in our portfolio, In 2024, Copel reaffirmed its financial strength, reflected in R$ 1.0 billion in dividends paid to shareholders, with an additional prop
Slide 5: Non-recurring items considered for adjusted EBITDA
The non-recurring items considered for the calculation of adjusted EBITDA are shown in the following table:
Slide 6: Adjusted EBITDA reconciliation table
‘ate ETO wat wu mak aoa iam eT) Pa ra wae a pra we le Tema 708 xe 60) (7) pte a6 ear) {72 Provsion (ee cane Dial ogra oS tea e101 7) (G2) A858 dos eg inde of ada id of wean bons = = E 382 obi ik Reneotaton (3? - > Mail : “a 5 —_ (72) Provisions fr Legal Chins : a - si (G2) rom discontinued Op. Coona
Slide 7: Net operating revenue in 2024
In 2024, net operating revenue totaled R$22,651.0 million, an increase of 5.5% compared to the R$21,479.5 million recorded in 2023, with emphasis on the following variations: (i) an increase of R$1,045.8 million (+17.4%) in revenue from electricity network availability, mainly due to periodic tariff
Slide 8: Personnel and management costs
Neutralizing the effects of provisions related to performance premiums (PPD), profit sharing (PLR), long-term incentives and PDV, there was a reduction of R$72.5 million (-26.2%) in personnel and management costs in the quarterly comparison, an effect of the reduction of 1,415 in the total number of
Slide 9: Total operating costs and expenses in 2024
In 2024, total operating costs and expenses reached R$18,868.0 million, 4.3% higher than the R$18,092.6 million recorded in 2023. The main changes were: (i) the increase of R$1,208.7 million in electricity purchased for resale, mainly due to the increase of 53.4% (+R$600.7 million) in the financial
Slide 10: Adjusted net income
Adjusting for non-recurring effects, adjusted net income increased 7.3% in 4Q24 compared to 4Q23. In addition to the items already mentioned, the effect of the increase of R$21.5 million in depreciation and amortization in the period also influenced the decrease, due to the higher investments made,
Slide 11: 1.7 Debt
1.7 Debt Copel's total consolidated debt in 2024 was R$17,753.8 million, an increase of 18.7% compared to the amount recorded on December 31, 2023, of R$14,962.3 million. The following table and graphs show the indebtedness of Copel and its subsidiaries at the end of 2024. RESULTS | 4Q24
Slide 12: Adjusted Net Debt/Adjusted EBITDA
Adjusted Net Debt/Adjusted EBITDA
Slide 13: Net debt and leverage chart
RS million 2.6 20 ag 13 13 13157 = _ 2020 2021 2022 2023 2024 A. et Debt eA ne ebtyebitda LT * does not consider equity in earings, considers discontinued operations and excludes impairments effects, GsF renegotiation and effect of s/Cofins provision
Slide 14: Amortization - R$ million
Amortization - R$ million Average Term: 4.2 years
Slide 15: Debt amortization schedule
4,596 3,334 2,461 2,038 1,359 Cash 2024 2025 2026 2027 1,738 2028 1,979 2030 4,846 >2030
Slide 16: Distribution investments
The investments made in the distributor are essentially allocated within the scope of the Paraná Three-Phase, Smart Electric Network and Total Reliability projects, with the objective of modernizing, automating and renewing the distribution network with standardized technologies to serve the automat
Slide 17: PMSO manageable costs
Expenses with PMSO (manageable costs), excluding provisions and reversals, decreased by 3.5%, mainly explained by: (i) the reduction in costs with "Personnel and managers" by (-R$ 30.3 million) influenced by the decrease of 386 employees, mainly explained by the Voluntary Dismissal Program (PDV) con
Slide 18: Personnel and management costs excluding provisions
Neutralizing the effects of the provisions related to PDV, PPD and PLR, there was a reduction of 30.3% in personnel and management costs compared to 4Q23, reflecting the aforementioned reduction in the number of employees between the periods, partially offset by the pro rata provision between Octobe
Slide 19: Copel GeT adjusted EBITDA
Year-to-date, Copel GeT recorded adjusted EBITDA of R$2,624.4 million, a decrease of 16.9% compared to the same period of the previous year, mainly due to (i) the lower average energy price of Copel GeT's portfolio in the year, mainly due to the termination of the CCEAR Salto Caxias HPP contract in
Slide 20: IFRS effect on the transmission segment
application of ICPC 01 / IFRIC 12 on the corporate statements in the transmission segment. 3.1.1 IFRS Effect on the Transmission Segment For the calculation, the adjustment was made considering the effects of the
Slide 21: IFRS effect in the Transmission segment
IFRS effect in the Transmission segment gz a3 aot m3 ak (A) IFRS revenue™ 3085 Bs 381018 ‘m9 38 (OAM revenue and effective interest 2825 227263 990.7 6825 Revenue and build margin 74s 1912914 13s 902 244 Cost of construction (san) (i66)m224 (956) 52) 122 (8) Regulatory revenue" 223 rz (9) 1025.1 wea
Slide 22: Slide 22
Slide 23: Power generation of Copel Geração e Transmissão
The power generation of Copel Geração e Transmissão S.A. and its wind farms in the quarter was lower than in the same period last year, reaching 6,864 GWh compared to 8,087 GWh in 4Q23. In 2024, generation was 27,363 GWh compared to 25,698 GWh in 2023. 3.2.2 Energy sold In the 4th quarter of 2024, C
Slide 24: Vila wind farms note
[5] Vila Ceará I, Vila Maranhão I, Vila Maranhão II and Vila Maranhão III Wind Farms (28°LEN - CCEAR 2024 - 2053). RESULTS | 4Q24
Slide 25: Consolidated Sales (GWh)
Consolidated Sales (GWh) 20,914 20,607 4,382 16,532 5,251 5,002 241 3,761 4023 4a24a 2023 2024 Copel GeT + FDA+ Bela Viste mWind Farms
Slide 26: GSF - Generation Scaling Factor
GSF - Generation Scaling Factor 105.3 104.3%yg 19, 101.6% 105-3404.1% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Source: CCEE — i554 orn
Slide 27: 3.2.3 Transmission
3.2.3 Transmission Copel has more than 9.6 thousand km of transmission lines in eight Brazilian states, considering its own assets and in partnership with other companies. In addition to building, maintaining and operating its own extensive energy transmission network, Copel provides services to pro
Slide 28: 4. Copel Distribuição
715.2 23.6%, 4. Copel Distribuição 4.1 Financial Performance Copel Distribuição posted adjusted EBITDA of R$ million in 4Q24, a growth of basically due to i) the 2.5% growth in the billed grid market, ii) the tariff adjustment in June 2024, with an average increase of 2.7% in the Tariffs for the Use
Slide 29: Personnel costs excluding PDV, PPD and PLR
Excluding the effects of the provisions of the PDV, PPD and PLR, the personnel costs line %, decreased 29.3 reflecting the aforementioned reduction in the number of employees between the periods, partially offset by the pro rata provision between October and December of the 2024 Collective Bargainin
Slide 30: Copel Distribuição net income
Copel Distribuição's reported net income in 4Q24 was R$440.4 million (compared to R$263.3 million in 4Q23), positively impacted by the performance highlighted above, by the increase of R$32.9 million (+28.5%) in financial revenues, mainly due to the higher volume of amounts invested, and the lower e
Slide 31: 4Q24 distribution highlights
In 4Q24, the following also stand out: · the reduction of R$ 13.4 million (-54.9%) in revenue from electricity supply due to the lower volume sold in the CCEE (MCP); · the -13.6% (-R$20.0 million) variation in other operating revenues mainly due to the sharing fines issued to communication companies
Slide 32: Adjusted EBITDA efficiency
‘Adjusted EBITDA Efficiency of the last 12 months RS mm effclency 45.7% effleney 20 el EBVTDA> Repultory Eto 2002 2023 2024 —Pertrmad Adel EBTOR —Regulatory ITOK Ta) Note: Regulatory EBITDA is calculated based on the WACC values on Remuneration Base = ‘Special Obligations + PLPT/RGR, and QRR publish
Slide 33: 4.2 Operational Performance
4.2 Operational Performance 4.2.1 Grid Market (TUSD) Copel Distribuição's grid market, composed of the captive market, the supply to concessionaires and permittees within the State of Paraná and all free consumers in its concession area, had an increase of 4.7% in electricity consumption in 4Q24 com
Slide 34: DEC
DEC (Measured inhour and centesimal ofhour) 929 919 seo gas oaag eC 2021 2022,» 2023-«« 2024 «2025-2026 mmicffective —Regulatory Target 7.68
Slide 35: Distribution losses
Losses - Distribution losses can be defined as the difference between the electricity purchased by distributors and that billed to their consumers, being segmented as Technical and Non-Technical. Technical Losses are inherent to the activity of electricity distribution and Non-Technical Losses origi
Slide 36: Losses
Losses 8.14% 68% 7.60% 7.58% 7.80 = 7.73% 7.66% — 2023, 2024 2020 2021 2022 ——Total Losses/Power Grid - %
Slide 37: Copel Comercialização personnel and management costs
The personal and management accounts, excluding the effects of POS, PLR and PPD, increased by 17.9% in 4Q24, mainly due to the restructuring process of the trading company.
Slide 38: 5.2 Operational Performance
5.2 Operational Performance In 2024, Copel Comercialização concentrated the negotiations of new energy sales contracts in the second half of the year, seeking to capture better prices by taking advantage of the biggest opportunities of the year.
Slide 39: Energy sold in 2024
Energy sold increased by 0.1% in 2024, due to the effect of the increase in sales to traders in bilateral contracts (+13.8%). The chart shows the evolution of Copel Comercialização in terms of the amount of GWh sold, where it shows a growth of 80.5% in the last 4 years.
Slide 40: GWh Sold
GWh Sold 80.1% 202120222023 2024 2020
Slide 41: Environmental indicators
Environmental indicator Carried Boao amigas asses ae Renewable sources (stalled capaci) 338) 9a 03) S407 | 9407 | 9407 | 9972) 60 Renewable sources (% Energy generated) 92999 07 19000 | 10000 10000 10000 GHG Emission scope 1 (tCO2)" sogsa4 81,6003 607 7040890 536200 (as) Se kaa cae one 1637008 48798
Slide 42: 6.4 Ratings, Classifications, and Indexes
6.4 Ratings, Classifications, and Indexes Index Ranking Reference Year
Slide 43: List of Exhibits
RESULTS List of Exhibit 3 Copet bs be CONSOLIDATED RESULT BY. RESULTS
Slide 44: Shareholder structure
Common State of Parans other 27.6% 0.2% 0.0% BNDESPAR, 10.1% Free Floating 61% TOTAL Treasury shares 02% other 02% State of Parans 15.9% Free Floating 61.6% BNDESPAR 22.0%
Slide 45: Resources (average MW)
RESOURCES (average MW) 2,723 2,722 2,635 94 112 19 2,620 2,627 2,619 2,084 2,067 2,072 2,076 2,075 2024 2025 2026 2027 2028 2029 m@ Own Resources GeT Own Resources SPP and Wind Farm m Purchases
Slide 46: Sales (average MW)
SALES (average MW) 178.72 174.03 179.61 182.68 196.14 212.03 30% 30% 2024 2025 2026 2027 2028 2029 @ Sales (Regulated) @ Sales (Free Market) § Total Available Avarege price of energy sold (R$) Comments: 1- Excluding losses and internal consumption. 2- Considering the GFs of wind SPEs constant for al
Slide 47: Energy contract balance GeT
Energy contract balance GET * 2024 | ETS 7 TARE — x 171.93 2025 RE 7 TERE — Rs 166.17 2026 ES SST — es 272.22 2027 EYRE NESE — Rs 176.31 2028 EUS SEEN — Rs 190.95 2029 EY Se — ns 220.35 m Regulated Market Free Market Availability avarage prices of energy sold ‘Includes hydroelectric plants, CCGF (GP
Slide 48: Energy contract balance SPP and Wind Farms
Energy contract balance SPP and Wind Farms rom RS 215.37 2025 R$ 213.87 2026 a R$ 212.45 2027 3% — R$ 209.10 2028 78% 19% R$ 207.90 2029 78% 19% Be — R$ 206.80 m Regulated Market m Free Market m Availability Avarage prices of energy sold Comments: 1-Excluding losses and internal consumption. 2- Cons
Slide 49: Notes and definitions
Notes: CCEAR: Energy Purchase Agreements in the Regulated Market. CER: Reserve Energy Agreements. MRE: Energy Reallocation Mechanism. CCEE (MCP): Electric Power Trade Chamber (Short-term market). CG: Center of gravity of the Submarket (difference between billed and energy received from CG). ¹ Other: