Slide 1: Results nine months 2024
redeia El valor de lo esencial Results nine months 2024 30 October 2024
Slide 2: Index
Index 1. Highlights & 9M24 results. 2. Outlook for 2024. 3. Progress on the Strategic Plan 2021-2025. Results 9M 2024 30 October 2024
Slide 3: Highlights & 9M24 results
redeia Highlights & 9M24 results
Slide 4: Highlights of the period
Highlights of the period Regulatory developments TSO investments grow by 18% to €603 M. 100% of TSO Approval of new PNIEC 2023-2030 with more ambitious climate targets investments are eligible under the European Taxonomy. in line with the European "Objective 55" and "REPowerEU" plans. Progress
Slide 5: Results in line with expectations
Results in line with expectations ... The Board of Directors has approved an interim dividend for 2024 of 0.20 €/share (1) in line with the company's dividend policy, which sets a floor of 0.80 €/share charged to 2024 and 2025 results. 1,428 M€ 1,024 M€ 409 M€ Revenue(2) EBITDA Net Profit 1,598 M€ i
Slide 6: Impacted by the end of the regulatory useful life of pre-98 assets
... impacted by the end of the regulatory useful life of pre-98 assets... Showing growth on a like-for-like basis Excluding pre-98 effect in both years P&L (€M) 9M24 9M23 ΔM€ Δ% Revenues 1,428.2 1,597.8 -169.7 -10.6 € 1,393 M Other income and OWC** 111.5 82.7 +28.8 +34.8 Revenues +1.9 % € 1,368 M in
Slide 7: Positive performance in the rest of the businesses
... with a positive performance in the rest of the businesses Highlighting the contribution to EBITDA from international activity EBITDA (€M) 9M24 9M23 ΔM€ Δ% 9M24 EBITDA breakdown TSO 729.5 904.0 -174.6 -19.3 International 90.0 80.6 +9.4 +11.7 TSO 9% 1% Satellite 100.6 97.4 +3.3 +3.3 International
Slide 8: Revenues fell 10.6% due to the impact of pre-98 assets
Revenues fell 10.6% due to the impact of pre-98 assets, with a positive contribution from the rest of the businesses Excluding pre-98 effect, revenues grow by 1.9% €M -10.6 % + 1.9 % 1,598 2 1,393 1,428 1,368 14 8 6 230 5 9M239M23 Pre-98 reported Pre-98 impact 9M23 exc.exc. 9M23 pre- TSOTSO(rest) In
Slide 9: Containment of operating costs
Containment of operating costs €M ++ 3.7 4,1%% - 1.4 % 8 523 3 17 516 498 Not comparable 10 Expenses with income offsetting entry 9M23 Operating 9M23 costs Chira Soria Chira progress Soria Projects for third Personnel expenses Rest of costs 9M249M24 Operating Operating costs costs parties & other ex
Slide 10: EBITDA decreases impacted by TSO
EBITDA decreases impacted by TSO Excluding the pre-98 effect, EBITDA grows by 3.8% €M -13.4 % +3.8 % 1,183 1,024 953 20 9 3 5 989 2 230 Fibre optic 9M23 EBITDA Pre-98 Impact 9M23 EBITDA TSOTSO (rest) International Satellite Fibre FOoptic Other 9M24 EBITDA 9M24 EBITDA reported exc. pre-98 exc. pre-98
Slide 11: Net Profit performance in line with expectations
Net Profit performance in line with expectations Excluding pre-98 effect increases by 5.4% Excluding pre-98 effect €M -23.6 % 535 382 53 409 363 1 159 12 8 B.Neto 9M23 exc. Pre-98 B.Neto Net 9M24 profitexc. 9M24Pre-98 9M23 Net profit EBITDA Amortisations Net financial Corporate tax Minorities 9M24 N
Slide 12: TSO investments increase by 18%
TSO investments increase by 18 % More interconnections and storage to advance the energy transition €M Progress on strategic TSO projects 671 622 Progress in the interconnection with France (€94M 9M24). Other Galicia - Portugal interconnection commissioning of the Optical fibre Beariz substation
Slide 13: Focus on balance sheet strength
Focus on balance sheet strength Net Debt increases by 9.1% €M Operating Cash Flow € 767 M 564 5,428 21.8 % 4.0 x 4,975 671 15 DN/EBITDA FFO/DN 249 1,016 'A-' Stable outlook Fitch and S&P FY2023 FFO Change in Investments Dividends Other 9M24 working capital FFO increased by 2.5% due to the collecti
Slide 14: Sound financial structure and comfortable liquidity position
Sound financial structure and comfortable liquidity position 66 % of ESG-linked financing Gross debt structure Maturities M€ 2,506 20% Eurobond USPP 1,216 1,131 809 771 12% 6,692 M€ EIB Other long term bonds 255 3% 65% 9% 2024 2025 2026 2027 2028 2029 and 2029 y siguientes onwards 8% Euro EUR 91% Di
Slide 15: Outlook for 2024
3. Outlook for 2024
Slide 16: 2024: base year for future growth
2024: base year for future growth Significant acceleration of TSO investments by assuming its responsibility as the backbone of the energy transition TSO investment €M >150 % ~ 1,000 877 830 825 672 564 532 493 439 414 421 413 415 426 392 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2
Slide 17: 2024 results affected by termination of pre-98 assets
2024 results affected by termination of pre-98 assets 2024 Estimated results EBITDA > 1,300 M€ TSO Net Profit ~ 500 M€ Termination of remuneration for pre-98 assets due to the end of their regulatory useful life (- € 307 M) and start of REVU2 recognition for Net Debt 1 ~ 5,700 M€ these facilities
Slide 18: Progress on Strategic Plan 2021-2025
Progress on 4. Strategic Plan 2021-2025
Slide 19: TSO investments of €3.9 billion
TSO investments of € 3.9 billion following the modification of the current Planning Redeia's total investment reaches €5 billion in the period 2021-2025 Investments 2021-2025 Progress 2021-9M24 €M TSO Telecommunications ~5,000 ~3,900 M€ ~700 M€ ~4,800 4,400 39% 40% ~ 3,900 ~ 3,700 TSO International
Slide 20: Confirming our financial targets 2021-2025
Confirming our financial targets 2021-2025 Sound financial structure and attractive shareholder remuneration Financial Efficiency 2025 Sustainable dividend policy MARGIN 1 €/share Floor 0.8 €/share EBITDA >70 % RATIO FFO/Net Debt >15 % RATIO 2021 2022 2023 2024 2025 Net Debt/EBITDA <5 x MAINTAINING
Slide 21: redeia
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Slide 22: Disclaimer
This document has been prepared by Redeia Corporación, S.A. (hereinafter, whom this document is addressed, as well as by those who consider that they Redeia) for the sole purpose set forth herein. It may not, under any have to take decisions or issue or disseminate opinions regarding securities circ