Engie Brasil Energia S.a. · BMFBOVESPA:EGIE3
Engie Brasil Energia — Q1 2025 Earnings Presentation
39 slides from Engie Brasil Energia's earnings presentation, May 8, 2025
Slide 1: ENGIE Brasil Energia S.A.
ENGIE Brasil Energia S.A. May 7, 2025
Slide 2: Forward-looking statements disclaimer
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, Brazilian an
Slide 3: Contents
CONTENTS HIGHLIGHTS AND ESGKPI’S OPERATING HIGHLIGHTS | ENERGY SALES | EXPANSION FINANCIAL PERFORMANCE SUPPORTING DATA
Slide 4: Highlights and ESG KPIs
AS] HIGHLIGHTS AND _* __sESGKPrs Trairi Wind Complex
Slide 5: Adjusted Ebitda and Adjusted Net Income
5 Adjusted Ebitda1 (R$ million) Adjusted Net Income (R$ million) • Increased proprietary installed capacity by 908 MW (10.1%) between 1Q24 and 1Q25. • Reached 9,916 MW of proprietary installed capacity. • Operate a generation park with a capacity of 11,626 MW. • We signed a contract for the acquisit
Slide 6: 20th consecutive year in Corporate Sustainability Index
6 HEALTH AND SAFETY – FREQUENCY RATE (OWN % OF WOMEN IN THE WORKFORCE AND EMPLOYEES + SERVICE PROVIDERS)* LEADERSHIP POSITIONS The Company celebrates the 20th consecutive year as part of the Corporate Sustainability Index (ISE) - achieving 4th place overall among the 82 selected companies. * Nº of a
Slide 7: Operating Highlights
OPERATING HIGHLIGHTS w= Umburanas Wind Complex / BA
Slide 8: Gross Power Generation and Generation by Complementary Source
8 Gross Power Generation (avg MW) Generation by Complementary Source (avg MW) Results Presentation 1Q25 ENGIE Brasil Energia S.A.
Slide 9: % of Curtailment over Generation – 1Q25
9 % of Curtailment over Generation – 1Q25 (avg MW) % of Curtailment per source - ENGIE 1Q25 Wind Solar Total Energetic + • Atypical increase in curtailment levels in 1Q25 due to prolonged unavailability of reliability 6% 9% 7% transmission line in the North region of the country (subject to compensa
Slide 10: Energy Sales
3 Gralha Azul Transmission System/ PR
Slide 11: Energy Balance and free customers
11 Energy Balance1 (% of total; in aMW) | as of March 31, 2025 Uncontracted energy compared to the availability of a given period Evolution of the number of free customers and consumer units 1,808 3,790 (+27.1% compared to 1Q24) (+13.0% compared to 1Q24) Number of free consumers Consumer Units serve
Slide 12: Expansion
4 Serra do Assuruá Wind Complex / BA
Slide 13: Serra do Assuruá Wind Complex
13 Gentio do Ouro (BA) One of the ENGIE Group’s largest wind projects to be implemented in a single phase. Total Instaled Start of Capacity: Construction: ~846 MW 2023 Wind turbines commissioning Operation: Commercial evolution Capacity: Gradual 410.2 aMW 3Q24-2Q25 Electromechanical assembly complet
Slide 14: Assú Sol Photovoltaic Complex
14 Assú (RN) Energy to be entirely delivered to the Free Market. Total Installed Start of Capacity: Construction: ~752 MWac 3Q23 (~895 MWp) Plants commissioning evolution Commercial Operation: Capacity: Gradual ~229.8 aMW 4Q24-4Q25 Progress of installation activities: 93% Investment 2.3k – inverters
Slide 15: Asa Branca Transmission System
15 Asa Branca Strategic location for seamless (BA, MG, ES) flow of renewable energy from Northeast to the Southeast and Midwest regions. Contracted Concession RAP1: period: R$ 268.4 30 years million Capex Aneel2: Deadline to start BA R$ 2,667 operation: million March 2029 (66 months) Works on the Mo
Slide 16: Graúna Transmission System
16 Operational synergies BA Graúna (SC, PR, with assets located in SP, MG, ES) Paraná, Santa Catarina, Minas Gerais and Espírito Santo. GRAÚNA Contracted Concession RAP1: period: R$ 252.2 30 years MG million ES Capex Aneel2: Deadline to start SP R$ 2,933.6 operation: PR million Dec/2029 Signature of
Slide 17: Acquisition of Santo Antônio do Jari and Cachoeira Caldeirão HPPs
17 Santo Antonio do Jari HPP Cachoeira Total acquisition value: R$ 2.9 billion, of which: Operational assets, with immediate Caldeirão HPP • Equity value: R$ 2.3 billion contributions to the Company's results, • Net debt: R$ 671.5 million after the closing of the transaction. ACR Auctions Santo Antô
Slide 18: Jirau HPP
18 Jirau HPP Production (average MW) PPAs Portfolio (average MW) Installed 50 Generating Capacity: Units 3,750 MW Physical 75 MW Uptime operating Guarantee: MW each factor 1Q25: 2,102 aMW 100%1 Shareholding Structure 40% 20% Note: 40% 1 Subject to final CCEE booking. Results Presentation 1Q25 ENGIE
Slide 19: Generation and transmission projects
1 19 B 2 6 4 5 3 A C Generation D Santo Agostinho Wind Installed 1 Complex (Fase II) – RN capacity: 279 MW A Serra do Assuruá Installed capacity: 846.0 MW D Wind Complex – BA Commercial capacity: 410.2 aMW Santo Agostinho Installed 2 Photovoltaic Complex – capacity: ~509 MW RN Assú Sol Photovoltaic
Slide 20: Financial Performance
5 Estreito Hydro Power Plant / TO/MA
Slide 21: Portfolio evolution from 2016 – 2024
From 2016 – 20243 21 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 Investments: Proprietary represent about 65% of
Slide 22: Generation and portfolio sale, Trading, Transmission
22 Generation and portfolio sale Trading Transmission Results Presentation 1Q25 ENGIE Brasil Energia S.A.
Slide 23: TAG stake contribution to Ebitda
23 TAG Income Statement (R$ million) Stake of 17.5% in TAG, resulting in the contribution of R$ 167 million through equity income to the Company’s Ebitda in 1Q25. 167 Contribution to Ebitda Results Presentation 1Q25 ENGIE Brasil Energia S.A.
Slide 24: Ebitda by segment
24 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 + depreciation and amortization + n
Slide 25: Results Presentation 1Q25 ENGIE Brasil Energia S.A.
25 Results Presentation 1Q25 ENGIE Brasil Energia S.A.
Slide 26: Debt Overview (R$ million)
26 DEBT OVERVIEW (R$ MILLION) Debt control, active management of debt 26,636 5,575 24,442 costs and successful 20,905 390 20,672 investment decisions 18,150 3.5x ensure balanced levels 3.3x Total Debt / Ebitda3 of the Net Debt/Ebitda 2.9x (R$ million) 2.7x 2.7x 2.6x ratio. 2.1x 2.3x 0.29 0.28 0.25 0
Slide 27: Debt maturity schedule and breakdown
27 BREAKDOWN OF DEBT MATURITY DEBT SCHEDULE (R$ MILLION) AAA rating and robust cash generation translate into 66% IPCA competitive costs of debt for financing growth. 30% CDI Average debt term: 7.1 years 4% TJLP 1Q25: Nominal cost of debt: 11.6% p.a. (equivalent to IPCA + 5.8%) 1Q24: 9.2% p.a. - equ
Slide 28: Allocated/Expected Capex and Financing Resources
28 ALLOCATED/EXPECTED CAPEX AND CORRESPONDING FINANCING RESOURCES (R$ MILLION) The expansion plan and maintenance CAPEX are supported by a strong cash flow generation and prudent funding strategy. Adjusted Ebitda ’ Debt funded1 HPPs under acquisition process2 Notes: 1 Does not consider interests inc
Slide 29: Dividends (based on distributable net income)
29 DIVIDENDS (BASED ON DISTRIBUTABLE NET INCOME) • By-law minimum payout: 30% of distributable net income • Management Commitment: minimum 6.1% 8.6% 9.2% 5.7% 6.2% 8.1% 5.6% 5.6% payout of 55% of 3.7% 3.5% 1 distributable net income 5 • Frequency: biannual Dividend per Share2 (R$) Payout3 Dividend Y
Slide 30: Supporting Data
6 Assú V Photovoltaic Complex / BA
Slide 31: Consolidated results (R$ million)
31 Consolidated (in R$ million) 1Q25 1Q24 Chg. Net Operating Revenue (NOR) 3,013 2,609 15.5% Results from Operations (EBIT) 1,722 2,920 -41.0% Ebitda 1 2,044 3,165 -35.4% Adjusted Ebitda 2 2,040 1,815 12.4% Adjusted Ebitda by transmission and quota effects 3 1,804 1,679 7.4% Notes: 1 1 Ebitda: net i
Slide 32: Installed capacity by plant
32 Hydro Power Plants Installed Capacity (MW) Commercial Capacity (aMW) Installed Capacity Commercial Capacity Complementary Plants (MW) (aMW) 1 Salto Santiago 1,420.0 702.2 12 Serra do Assuruá Complex (Wind) 666.0 334.0 2 Itá 1,126.91 528.71 13 Assú Sol Complex (Solar) 171.5 52.9 3 Salto Osório 1,1
Slide 33: Energy sales contracts and auction prices
33 (in average MW) 2025 2026 2027 2028 2029 2030 Own Resources 4,761 4,880 4,880 4,880 4,880 4,798 Auction Reference Gross Price Net Price of + Purchases for Resale 609 465 342 337 234 212 Gross Price Date Adjusted PIS/COFINS/P&D = Total Resources (A) 5,370 5,345 5,222 5,217 5,114 5,010 (R$/MWh) (R$
Slide 34: TAG gas market and contracts
Protagonism for the liberalization of the gas market: access of important players to the 34 transport network 22 clients (include 251 firm contracts Petrobras) from 20 signed in 2025 (44 different economic groups. active), lasting until Contracted % of Net December. Gas Length Agreement Readjustment
Slide 35: TAG debt profile and Net Debt/Ebitda
35 Debt Profile (R$) – TAG as of March 31, 2025 12.1 billion 7.9 billion Domestic market: Foreign market: 1st Debentures (Jun/19 to Jun/26): CDI + 1.80% p.y., with semi-annual amortizations Bank Loan (Jun/19 to Jun/31): 2nd Debentures (Dec/23 to Dec/33): SOFR + spread between 2.5% and 3.3% IPCA + 5.
Slide 36: Employees by gender, age and qualifications
36 Number of employees By gender By age group By academic qualifications Note: 1Does not consider employees posted to projects under construction. Results Presentation 1Q25 ENGIE Brasil Energia S.A.
Slide 37: ESG performance indicators
37 Unit of Performance Performance Aspect Theme Change measurement 1Q25 1Q24 Emissions intensity by energy generation tonCO 2e/MWh 0.0020 0.0013 49.0% Emissions intensity by revenue tCO 2 e/million R$ 18.6 6.9 169.6% E Total emissions (Scope 1, 2 and 3) Tons 55,943.6 17,940.8 211.8% Water consumptio
Slide 38: Investor Relations Team
Investor Relations Team Interim IR Manager Sustainability Analyst Chief Executive Officer adriana.wagner@engie.com caio.miralles@engie.com (48) 3221-7904/7246 Investor Relations Analyst Chief Financial and Investor Investor Relations Analyst ivani.angeli@engie.com Relations Officer raquel.suzaki@eng
Slide 39: www.engie.com.br
EeE=_— CNGiIC www.engie.com.br