Slide 1: Lisbon, February 27
© i/ Lisbon, February 27”
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: 2024 results outperforming guidance, backed by portfolio diversification
2024 results outperforming guidance, backed by portfolio diversification: with strong performance in integrated G&S Iberia and electricity networks Key financial metrics Highlights 2024 vs. 2023 2024 Latest Guidance Strong integrated business in ΔYoY Iberia on higher market volatility, good hedging
Slide 4: EBITDA and Net Profit with significant growth over the past 5 years
EDP EBITDA and Net Profit with significant growth over the past 5 years Recurring EBITDA Recurring Net Profit € Bn € Bn +9% CAGR 2020-2024 +16% CAGR 2020-2024 1.29 1.39 5.02 4.95 4.52 0.83 0.87 0.78 3.74 3.50 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 AR gains 12% 15% 9% 9% 5% Networks 30% 46
Slide 5: Integrated business Iberia continues to be a key pillar of EDP's results
Integrated business Iberia continues to be a key pillar of EDP’s results, with improved prospects for 2025-26 Diversified and integrated gen. & supply portfolio Improved outlook for 2025-26 mitigating price and volume risk EDP Iberia generation vs supply volumes 2024, TWh Electricity wholesale price
Slide 6: Electricity networks increasing weight in 2024, new regulatory periods in Iberia from 2026
Electricity networks increasing weight in 2024, new regulatory periods in Iberia from 2026, with improved returns required to support investment needs >40% weight of electricity networks on earnings Growth of asset base in Iberian electricity networks expected to accelerate post 2025 EDP Net Income,
Slide 7: Iberia holding a privileged position in the electrification transition
Iberia holding a privileged position in the electrification transition, with end-user electricity prices among the more affordable in the EU Portugal and Spain amongst the EU countries with Continuous downward trend for electricity most competitive electricity prices system debt International compar
Slide 8: Brazil: growing electricity demand and successful EDP Brasil minorities buyout
Brazil: growing electricity demand and successful delivery of EDP Brasil minorities buyout, forex volatility mitigated by local funding policy Positive developments for electricity networks Significant contribution of EDP BR minorities buyout 2024 YoY change in electricity demand in Brazil and in ED
Slide 9: Wind & Solar: strong market fundamentals in EU and US but requiring a focused low-risk approach
Wind & Solar: strong market fundamentals in EU and US but requiring a focused low-risk approach during 2025 EDP’s Wind & Solar capacity additions Expected GW capacity Increasing electricity demand 2025-261 Federal Legislation: Projects grandfathered under 4.0 GW existing IRA remuneration framework f
Slide 10: Moderating the pace of short-term investment, increasing capital allocation to networks
Moderating the pace of short-term investment, focusing on maximizing returns and increasing capital allocation to networks Reduction on investment levels expected in 2025-26 supportive of credit ratios Gross investments / year €Bn Capital allocation following a clear investment 6.1 -22% framework, k
Slide 11: 2024 OPEX decreasing 4% YoY in absolute terms despite growing activity
2024 OPEX decreasing 4% YoY in absolute terms despite growing activity Opex recurring1 Key measures € Bn -4% 1.99 Ambitious cost cutting program executed in 1.92 2024 achieving €140M of savings Corporate restructuring leading to a simplified decision-making process and additional inter- region syner
Slide 12: 2026 guidance reiterated reflecting the Integrated Utility low risk profile of EDP
2026 guidance reiterated reflecting the Integrated Utility low risk profile of EDP vs. May ’24 update 4.5 ~4.9-5.0 Higher integrated margin in Iberia EBITDA ~3% €Bn CAGR 2022-26 Stable growth in electricity networks ~1.2-1.3 Lower renewables capacity additions Net income 0.9 ~10% €Bn CAGR 2022-26 Lo
Slide 13: Improve shareholder remuneration by anticipating dividend floor and share buyback program
Improve shareholder remuneration by anticipating next year’s dividend floor to 2025 and implementing a share buyback program 2024 annual dividend proposal up vs. previous guidance: €0.20/share, to be paid in May 2025 Share buyback program up to €100m to be Dividend per share € executed over the next
Slide 14: 2024 Results
2024 Results
Slide 15: Recurring EBITDA of €5.0 Bn, -1% YoY
Recurring EBITDA of €5.0 Bn, -1% YoY, with strong integrated business and resilient electricity networks performance mitigating weaker AR gains at EDPR Recurring EBITDA1 ,€m YoY growth, % ∆ YoY -1% • Integrated business benefiting from strong hydro volumes but impacted by 5,023 4,954 coal deconsolid
Slide 16: Wind & Solar EBITDA -9% YoY, reflecting lower asset rotation gains
Wind & Solar EBITDA -9% YoY, reflecting lower asset rotation gains in 2024; Excluding AR gains, Wind & Solar EBITDA +9% YoY Wind & Solar Recurring EBITDA €m YoY growth, % Exc. AR ∆ YoY 2023 2024 YoY +9% Installed Capacity1, GW 16.6 19.3 +17% -9% 1,845 Prod. deviation vs. exp. LT Gross -6% -2% +3 p.p
Slide 17: 2024 marked by hydro resources +16% above average; Good prospects for 1Q25
2024 marked by hydro resources +16% above average; Good prospects for 1Q25 Hydro volumes exc. pumping in 2024: +1.8 TWh Strong start of 2025 with above average hydro backed by 16% above average hydro resources resources and reservoirs and higher prices YoY Hydro generation in Iberia net of pumping (
Slide 18: EDP in the front line of energy transition among European integrated utilities
EDP in the front line of energy transition among European integrated utilities with CO2 emissions intensity at 29 g/kWh in 2024: -84% in 3 years Strong track record in the energy transition 2021 2022 2023 2024 2021 2022 2023 2024 9.8% 95% 87% Revenues from 6.8% Renewables 75% 74% coal (%) 4.3% 5% ge
Slide 19: Gen. & Supply EBITDA exc. coal +9% following +2.0 TWh of hydro generation
Gen. & Supply EBITDA exc. coal +9% following +2.0 TWh of hydro generation in Iberia YoY, more than offsetting lower energy prices Hydro, Clients & EM Recurring EBITDA €m YoY growth, % Exc. coal Iberia 2023 2024 YoY +9% -2% ∆ YoY Hydro coefficient in Portugal, avg.=1 0.99 1.16 17% 1,699 1,673 Hydro G
Slide 20: Electricity Networks EBITDA +7%; Ex-gains EBITDA increased 2%
Electricity Networks EBITDA +7%; Ex-gains EBITDA increased 2% supported by consumption growth and inflation update in Brazil Electricity Networks Recurring EBITDA €m YoY growth, % Exc. AR gain Iberia 2023 2024 YoY +2% +7% ∆ YoY Return on RAB Portugal, % 5.57% 5.53% -4 bps 1,607 1,501 71 Return on RA
Slide 21: Financial Costs decreasing YoY, supported by lower cost of BRL denominated debt
Financial Costs decreasing YoY, supported by lower cost of BRL denominated debt Net Financial Costs1 Avg. nominal debt by currency €m % -4% 903 865 52 % BRL 38% 29% 64 % EUR 28 % EUR, USD 71% 17 % USD & Other 62% BRL 14 % 13 % 6% Of which 4% 6% Other Singaporean 2023 2024 2023 dollars 2024 Further d
Slide 22: Stable net debt and sound financial ratios
Stable net debt and sound financial ratios: Net Debt/EBITDA at 3.5x and FFO/Net Debt at 21.5% Change in Net Debt € Bn Hybrid -€0.5Bn 15.3 0.6 15.6 3.5 2.9 0.8 0.5 2023 Organic CF Dividend Regulatory Net cash FX and Other 2024 Receivables investments Net Debt/EBITDA(1) 3.3x 3.5x FFO/Net Debt(2) 21.3%
Slide 23: Recurring Net Profit +8% YoY backed by strong performance in integrated business/networks
Recurring Net Profit +8% YoY backed by strong performance in integrated business/networks and EDP Brasil full ownership post June 2023 Recurring Net Profit1 Recurring Net Profit €m €m Exc. AR gains Δ YoY +23% EBITDA 4,954 -69 +8% 1,290 1,393 D&A and 191 Provisions -1,821 -75 311 AR gains EBIT 3,133
Slide 24: Closing remarks
Closing remarks
Slide 25: Closing remarks
Closing remarks Solid 2024 results: +8% net income growth YoY supported by 100% held activities, namely integrated generation & supply Iberia and electricity networks and enhanced by improved financial results and positive minorities impact post EDP Brasil minorities buyout. Integrated business Iber
Slide 26: Q&A
Q&A @edp
Slide 27: EDP's ESG 2024 Performance
EDP’s ESG 2024 Performance 2024 2023 YoY Renewables generation (%) 95 87 +8 p.p. Scope 1 and 2 emissions intensity (gCO2/kWh) 29 81 -64% Environment Capex aligned with EU taxonomy (%) 93 96 -3 p.p. Total recovered waste (%) 87 96 -9 p.p. Clients with electric mobility solutions (#) 178,043 106,991 +
Slide 28: IR Contacts
IR Contacts E-mail: ir@edp.com Phone +351 210 012 834 Site: www.edp.com