Engie Brasil Energia S.a. · BMFBOVESPA:EGIE3
Engie Brasil Energia — Q4 2025 Earnings Presentation
41 slides from Engie Brasil Energia's earnings presentation, Feb 26, 2026
Slide 1: Results Presentation 4Q25 and 2025
ENGIE Brasil Energia S.A. RESULTS PRESENTATION 4Q25 and2025 February 25, 2026
Slide 2: Disclaimer
Disclamer 2 This publication may include forward-looking uncertainty surrounding the results of its future This material includes forward-looking statements statements on events or results pursuant to operations, plans, objectives, expectations and as to events subject to risks and uncertainties, Br
Slide 3: Contents
CONTENTS 1 3 5 HIGHLIGHTS AND ENERGY FINANCIAL ESG KPI’S SALES PERFORMANCE 2 4 6 OPERATING EXPANSION SUPPORTING HIGHLIGHTS DATA
Slide 4: Highlights and ESG KPIs
1 HIGHLIGHTS AND ESG KPI’S Trairi Wind Complex / CE
Slide 5: Highlights
Highlights 5 • Serra do Assuruá Wind Complex: 100% in • First section of Asa Branca Transmission • The Company was once more included in the commercial operation in Dec/25 (installed System began commercial operation on S&P Sustainability Yearbook listed among 5% capacity 846 MW). November 26, 2025,
Slide 6: Highlights
Highlights 6 Adjusted Ebitda1 (R$ million) Main drivers of the result vs. 12M24: R$ 139 million Generation Segment R$ 161 million Transmission Segment R$ 27 million Result of equity income (TAG) Adjusted Net Income (R$ million) R$ 666 million Financial Result R$ 320 million Depreciation and amortiza
Slide 7: ESG KPIs
ESG KPIs 7 HEALTH AND SAFETY – FREQUENCY RATE (OWN % OF WOMEN IN THE WORKFORCE AND EMISSIONS INTENSITY1 (tCO2e/MWh) EMPLOYEES + SERVICE PROVIDERS)* LEADERSHIP POSITIONS *Source: Ministry of Science, Technology and Innovation * Nº of accidents / millions of hours of exposure to the risk ENGAGED PEOPL
Slide 8: Operating Highlights
2 OPERATING HIGHLIGHTS Umburanas Wind Complex / BA
Slide 9: Generating and Transmission Uptime
Generating and Transmission Uptime 9 Operational excellence in generation and transmission assets Note: Considering programmed and forced stoppages. Results Presentation 4Q25 and 2025 ENGIE Brasil Energia S.A.
Slide 10: Curtailment
Curtailment 10 % of Curtailment over Generation – 4Q25 (avg MW) • Curtailment in 4Q25 and 12M25 in line with National Integrated System (SIN). • Organic growth in wind and solar generation with entry into commercial operation of the Serra do Assuruá Wind and Assú Sol Photovoltaic Complexes. • Increa
Slide 11: Energy Generation
Energy Generation 11 Increase in generation from wind and solar power plants driven by organic growth Gross Power Generation (avg MW) Generation by Complementary Source (avg MW) Results Presentation 4Q25 and 2025 ENGIE Brasil Energia S.A.
Slide 12: Energy Sales
3 ENERGY SALES Gralha Azul Transmission System/ PR
Slide 13: Energy Commercial Strategy
Energy Commercial Strategy 13 Gradual sale of energy, with hedge preservation for portfolio risk protection Energy Balance (% of total; in aMW) | as of December 31, 2025 Uncontracted energy compared to the availability of a given period Evolution of the number of free customers and consumer units 2,
Slide 14: Expansion
4 EXPANSION Serra do Assuruá Wind Complex / BA
Slide 15: Wind Project Under Implementation
Wind Project Under Implementation 15 Serra do Assuruá Wind Complex Serra do Assuruá Gentio do Ouro (BA) Total Installed Start of Capacity: Construction: 846 MW 2023 Commercial Operation: Capacity: Gradual Wind turbines commissioning evolution 410.2 aMW 3Q24-4Q25 100% in comercial operation in 4Q25.
Slide 16: Photovoltaic Project Under Implementation
Photovoltaic Project Under Implementation 16 Assú Sol Photovoltaic Complex 1 million modules installed Assú Sol Assú (RN) Total Installed Start of Capacity: Construction: Plants commissioning evolution 753 MWac 3Q23 (895 MWp) Commercial Operation: Capacity: Gradual 229.6 aMW 4Q24-1Q26 Investment 2.3
Slide 17: Transmission Project Under Implementation: Asa Branca
Transmission Project Under Implementation 17 Asa Branca Transmissora de Energia Cables launching Cablelauching Strategic location for seamless flow of Asa Branca renewable energy from (BA, MG, ES) Northeast to the Southeast and Midwest regions. Contracted Concession RAP1: period: R$ 282.7 30 years m
Slide 18: Transmission Project Under Implementation: Graúna
Transmission Project Under Implementation 18 Graúna Transmissora de Energia Operational synergies with BA Graúna (SC, PR, assets located in Paraná, SP, MG, ES) Santa Catarina, Minas Gerais and Espírito Santo. Contracted Concession GRAÚNA RAP1: period: R$ 268.3 30 years MG million ES Capex Aneel2: De
Slide 19: Jirau HPP | Update
Expansion 19 Jirau HPP | Update Jirau HPP Production (average MW) PPAs Portfolio (average MW) Installed Physical Guarantee2: Capacity: 2,182 aMW – 90m extended 3,750 MW 2,257 aMW – 90m constant Uptime operating 50 Generating 75 MW factor 2025: Units each GU 100%1 Shareholding Structure 40% 20% Notes
Slide 20: Jirau HPP | Transfer process
Expansion 20 Jirau HPP | Transfer process Dec/25 Jirau HPP ✓Board of Directors authorized the start of feasibility studies for the potential transfer; ✓Special Independent Committee for Transactions with Related Parties establish; Manoel Eduardo Lima Lopes – Independent Board Member Installed Physic
Slide 21: Expansion
Expansion 1 2 21 5 3 4 Projects under construction Projects under development A B Santo Agostinho Wind Installed 1 Complex (Phase II) – RN capacity: 279 MW Transmission B Asa Branca Transmission A System – BA/MG/ES Length: ~1,000 Km Santo Agostinho Installed 2 Photovoltaic Complex – capacity: ~509 M
Slide 22: Financial Performance
5 FINANCIAL PERFORMANCE Estreito Hydro Power Plant / TO/MA
Slide 23: Resilient Financial Performance
Resilient Financial Performance From 2016 – 20253 23 Good portfolio management and diversification into other regulated segments, such as transmission, natural gas transportation and energy contracts in the ACR, result in stability and predictability of results. These areas combined represent about
Slide 24: Net Operating Revenue Change
Net Operating Revenue Change 24 NetOperating Revenue (R$million ) Generation and portfolio sale Trading Transmission Results Presentation 4Q25 and 2025 ENGIE Brasil Energia S.A.
Slide 25: Result of Equity Income
Result of Equity Income 25 Contribution of the Result Transportadora from Associada de Gás (TAG) to the Ebitda of the Company TAG Income Statement (R$ million) Stake of 17.5% in TAG, resulting in the contribution of R$ 687 million through equity income to the Company’s Ebitda in 12M25. 687 Contribut
Slide 26: EBITDA Change
EBITDA Change 26 EBITDA (R$ million ) Generation and trading1 Equity income (TAG) Transmission Notes: 1 Considering the result from generation and trading segments. *IFRS: International Financial Reporting Standards Adjusted Ebitda: net income + income tax and social contribution + financial result
Slide 27: Net Income Change
Net Income Change 27 Net Incomemillion (R$ ) Results Presentation 4Q25 and 2025 ENGIE Brasil Energia S.A.
Slide 28: Balanced Debt
Balanced Debt 28 With no currency exposure DEBT OVERVIEW (R$ MILLION) Debt control, active management of debt 29,668 29,329 3,359 457 25,514 costs and successful 24,442 investment decisions 20,905 18,150 3.8x 3.8x Total Debt / Ebitda3 ensure balanced levels 3.3x 3.3x 3.2x (R$ million) of the Net Deb
Slide 29: Debt Profile and Composition
Debt Profile andComposition 29 AAA rating and robust cash generation translate into competitive costs of debt for financing gr MATURITY DEBT SCHEDULE (R$ MILLION) BREAKDOWN OF DEBT 58% IPCA 36% CDI 6% TJLP 4Q25: Nominal cost of debt: 11.4% p.a. (equivalent to IPCA + 6.8%) Average debt term: 7.2 year
Slide 30: CAPEX
CAPEX 30 ALLOCATED/EXPECTED CAPEX AND CORRESPONDING FINANCING RESOURCES (R$ MILLION) The expansion plan and 7,640 maintenance CAPEX 7,270 7,367 are supported by a 6,941 strong cash flow generation and prudent funding strategy. Adjusted Ebitda ’ Debt funded1 Note: 1 Does not consider interests incurr
Slide 31: Dividend Policy
Dividend Policy 31 DIVIDENDS (BASED ON DISTRIBUTABLE NET INCOME) • By-law minimum payout: 30% of distributable net income • Management 9.2% Commitment: minimum 8.6% 8.1% 6.1% 5.7% 6.2% 5.6% 5.6% 3.7% 3.5% payout of 55% of 1 4.2% distributable net income 5 • Frequency: biannual Dividend per Share2 (R
Slide 32: Supporting Data
6 SUPPORTING DATA Assú V Photovoltaic Complex / BA
Slide 33: Key Performance Indicators
Key Performance Indicators 33 Consolidated (in R$ million) 4Q25 4Q24 Chg. 12M25 12M24 Chg. Net Operating Revenue (NOR) 3,418 3,271 4.5% 12,860 11,219 14.6% Results from Operations (EBIT) 1,479 1,685 -12.2% 6,268 7,682 -18.4% 1 Ebitda 1,863 1,973 -5.6% 7,660 8,754 -12.5% Adjusted Ebitda 2 1,863 1,934
Slide 34: Diversified Portfolio of Assets as of December 31, 2025
Diversified Portfolio of Assets as of December 31, 2025 34 Hydro Power Plants Installed Capacity (MW) Commercial Capacity (aMW) Installed Capacity Commercial Capacity Complementary Plants 1 (MW) (aMW) Salto Santiago 1,420.0 702.2 2 14 Serra do Assuruá Complex (Wind) 846.0 410.2 Itá 1,126.91 528.71 3
Slide 35: Energy Balance as of December 31, 2025
Energy Balance as of December 31, 2025 35 1 Diversified contracting with duration of about 14 years in ACR and 4 years in ACL (in average MW) 2026 2027 2028 2029 2030 2031 Own Resources 5,139 5,207 5,206 5,207 5,166 4,278 Auction Reference Gross Price Net Price of + Purchases for Resale 639 401 361
Slide 36: Transportadora Associada de Gás – TAG
Protagonism for the liberalization of the gas Transportadora Associada –TAG de Gás market: access of important players to the transport network 36 Transportation Contracts 27 clients (include Petrobras) from 24 717 firm contracts signed in 2025 (106 active until different economic groups. December 3
Slide 37: Transportadora Associada de Gás – TAG
Transportadora Associada –TAG de Gás 37 Financing structure with competitive cost and protected from exchange variation. Rating AAA and International BB+ by Fitch Ratings. Debt Profile (R$) – TAG as of December 31, 2025 10.6 billion1 6.7 billion Domestic market: Foreign market: Transportadora Associ
Slide 38: Headcount
1 Headcount 38 Number of employees By gender By age group By academic qualifications Note: 1Does not consider employees posted to projects under construction. Results Presentation 4Q25 and 2025 ENGIE Brasil Energia S.A.
Slide 39: Sustainability KPIs
Sustainability KPIs 39 Unit of Performance Performance Performance Performance Aspect Theme Change Change measurement 4Q25 4Q24 12M25 12M24 Emissions intensity by energy generation tonCO 2e/MWh 0.0126 0.0154 -18.3% 0.0047 0.0054 -12.2% Emissions intensity by revenue tCO 2e/million R$ 49.1 62.7 -21.7
Slide 40: Contacts
CONTACTS Investor Relations Team Leonardo Germano Depiné Caio Miralles Eduardo SATTAMINI Investor Relations Manager Sustainability Analyst Chief Executive Officer leonardo.depine@engie.com caio.miralles@engie.com Adriana Wagner Raquel Suzaki Pierre LEBLANC Investor Relations Analyst Investor Relatio
Slide 41: www.engie.com.br
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