Companhia De Electricidade Do Estado Da Bahia - CoelbaBMFBOVESPA: CEEB3

2Q24 Earnings Release

· Issued by Companhia De Electricidade Do Estado Da Bahia - Coelba

Rio de Janeiro, July 23, 2024 - Neoenergia discloses on this date its results for the second quarter and first Half 2024 (2Q24 and 6M24)

HIGHLIGHTS (R$ MN)

2Q24

2Q23

∆ %

6M24

6M23

∆ %

2Q24

Net Operating Revenue

10,983

10,534

4%

22,003

21,641

2%

Gross Margin

4,111

3,992

3%

8,768

8,752

0%

Operating Expenses

(1,053)

(1,014)

4%

(2,086)

(1,984)

5%

EBITDA

2,970

2,662

12%

6,477

6,282

3%

Financial Income (Loss)

(1,187)

(1,321)

(10%)

(2,480)

(2,593)

(4%)

Profit assigned to controlling shareholders

815

728

12%

1,942

1,943

(0%)

Financial Asset (Concession)

293

180

63%

711

829

(14%)

IFRS 15 + Corporate Operations

248

116

114%

519

478

9%

Cash EBITDA

2,429

2,366

3%

5,247

4,975

5%

OPERATING INDICATORS

Total Inject Energy (GWh) (SIN + Isolated Systems + DG)

21,389

19,764

8.2%

43,553

40,194

8.4%

Total Distributed Energy (captive + free market + DG)

18,990

17,572

8.1%

37,953

35,008

8.4%

Number of Customers (thousand)

16,497

16,193

2%

Financial Debt Indicators

Net Debt(1)/EBITDA(2)

Corporate Rating (S&P)

2Q24

2023

Variation

3.27

3.17

0.10

AAA

AAA

-

  1. Net Debt of cash and cash equivalents, short-term investments and securities.
  2. EBITDA 12 months

Cash EBITDA: R$ 2.4 billion in the 2Q24 (+3% vs. 2Q23) and R$ 5.2 billion in the 6M24 (+5% vs. 6M23).

  • +8,2% growth of injected energy, including DG in the 2Q24 and 8.4% in the 6M24;
  • Delivery of Itabapoana (Dec/18 auction) and Paraíso (Jun/22 auction) transmission lots with the release of 100% of RAP and partial delivery of Morro do Chapéu lot (Dec/20 auction) with the release of 47% of RAP and Estreito lot (Dec/21 auction) with the release of 33% of RAP;
  • Operating expenses controlled: +4% in the 2Q24 and +5% in the 6M24;
  • Profit of R$ 815 million in the 2Q24,+12% vs. 2Q23, and R$ 1.9 billion in the 6M24, in line with the 6M23;
  • CAPEX of R$ 4.2 billion in the 6M24, of which R$ 2.4 billion in distribution;
  • Net Debt/EBITDA of 3.27x in the 2Q24, vs. 3.17x in the 4Q23.

2Q24 TELECONFERENCE

Wednesday, July 24, 2024

Time: 10:00 (BRT) | 9:00 (ET)

(with simultaneous translation into English)

Access to Webcast:https://tenmeetings.com.br/ten-events/#/webinar?evento=Neoenergia2T24_280

NEOENERGIA S.A. DISCLOSES THE RESULTS FOR THE FIRST QUARTER AND THE 6 MONTHS OF 2024 (2Q24 AND 6M24) BASED ON MANAGEMENT ANALYSES THAT THE BOARD OF DIRECTORS UNDERSTANDS TO TRANSLATE THE COMPANY'S BUSINESS IN THE BEST MANNER AND RECONCILED WITH THE INTERNATIONAL FINANCIAL REPORTING STANDARDS - IFRS.

SUMMARY

1.

OPERATING PERFORMANCE

4

1.1.

Networks

4

1.2.

Generation and Customers

13

1.2.1.

Renewables

13

1.2.2.

Thermal Plant

15

2.

ECONOMIC-FINANCIAL PERFORMANCE

16

2.1.

Consolidated

16

2.2.

Networks

18

2.3.

Generation and Customers

25

3.

EBITDA

27

4.

FINANCIAL RESULT

28

5.

INVESTMENTS

28

5.1.

Networks

29

5.2.

Generation and Customers

29

6.

INDEBTEDNESS

29

6.1.

Debt situation and Financial Leverage

29

6.2.

Debt amortization schedule

30

6.3.

Debt Profile

31

7.

RATING

32

8.

CAPITAL MARKETS

32

9.

ESG

32

10.

OTHER MATTERS

34

10.1.

Low-income consumers

34

10.2.

Adjustments in Neoenergia Coelba and Neoenergia Cosern

34

10.3.

Adjustment in Neoenergia Pernambuco

34

10.4. Renewal of the Distributors' Concession Decree

34

11. RECONCILIATION NOTE

35

ANNEX I - Managerial DREs by Business

36

ANNEX II - Balance Sheet by Business

37

ANNEX III - Consolidated Cash Flow

38

Results as of June 30, 2024

Disclosed on July 23, 2024

1. OPERATING PERFORMANCE

Neoenergia Group's businesses are presented in this report in a managerial manner as follows: (i) Networks - distribution and transmission; and (ii) Generation and Customers - wind generation, hydroelectric generation, solar generation, thermal generation, and energy sales.

1.1. Networks

1.1.1. Distributors

1.1.1.1. Number of Consumers

Neoenergia Distributors closed the 2Q24 with 16.5 million of active consumers. Compared to the 2Q23, there was an increase of 304 thousand consumers (+1.9%). The table below reflects the number of active consumers at the end of the 2Q24 by distributor.

Number of Customers

2Q24

2Q23

VARIATION

(thousand)

Residential

Industrial

Commercial

Rural

Other

Total

Consolidated

14,683

5,982

3,684

1,403

2,568

1,046

38

10

6

2

19

1

1,115

443

228

113

211

120

488

184

121

48

126

10

173

71

34

29

33

6

16,497

6,689

4,073

1,595

2,957

1,183

Consolidated

14,373

5,837

3,601

1,377

2,519

1,040

37

10

5

1

20

1

1,104

438

228

111

209

119

510

197

126

50

126

10

168

69

34

28

32

6

16,193

6,550

3,994

1,567

2,905

1,177

Consolidated

310

145

83

27

49

6

1

(0)

1

0

(0)

(0)

11

6

0

2

2

0

(22)

(13)

(5)

(2)

(0)

(0)

5

2

0

1

1

0

304

139

79

28

52

6

1.1.1.2. Market Evolution

The energy distributed (captive + free + DG) was 18,990 GWh in the 2Q24 (+8.1% vs. 2Q23) and 37,953 GWh in the 6M24 (+8.4% vs. 6M23). It should be noted that Neoenergia Coelba, Neoenergia Cosern and Neoenergia Elektro, which underwent tariff reviews in 2023, had their reference markets adjusted in order to compensate for migrations to distributed generation.

The energy amounts distributed by distributor and by type of customer and market are displayed in the tables below:

NEOENERGIA S.A. | RELEASE 2Q24

4

Results as of June 30, 2024 Disclosed on July 23, 2024

Distributed Energy (GWh)

Residential

Industrial

Commercial

Rural

Others

Total Distributed Energy (captive)

Industrial

Commercial

Rural

Others

Supplies

Free Market + Supply

Total Distributed Energy (captive + free market)

DG Compensation Energy

Total Distributed Energy (captive + free market + DG)

Distributed Energy (GWh)

Residential

Industrial

Commercial

Rural

Others

Total Distributed Energy (captive)

Industrial

Commercial

Rural

Others

Supplies

Free Market + Supply

Total Distributed Energy (captive + free market)

DG Compensation Energy

Total Distributed Energy (captive + free market + DG)

COELBA

CELPE

COSERN

ELEKTRO

ELEKTRO

CONSOLIDATED

2Q24

2Q23

%

2Q24

2Q23

%

2Q24

2Q23

%

2Q24

2Q23

%

2Q24

2Q23

%

2Q24

2Q23

%

2,059

1,939

6.2%

1,546

1,444

7.1%

644

605

6.4%

1,362

1,242

9.7%

638

603

5.8%

6,249

5,833

7.1%

119

166

(28.3%)

83

90

(7.8%)

32

39

(17.9%)

200

248

(19.4%)

6

9

(33.3%)

439

553

(20.6%)

701

733

(4.4%)

480

505

(5.0%)

187

197

(5.1%)

509

500

1.8%

352

350

0.6%

2,229

2,285

(2.5%)

619

572

8.2%

102

111

(8.1%)

68

75

(9.3%)

217

199

9.0%

34

34

-

1,040

991

4.9%

691

678

1.9%

373

469

(20.5%)

159

156

1.9%

314

316

(0.6%)

317

330

(3.9%)

1,855

1,949

(4.8%)

4,188

4,088

2.4%

2,584

2,619

(1.3%)

1,091

1,073

1.7%

2,602

2,505

3.9%

1,347

1,326

1.6%

11,812

11,611

1.7%

1,149

1,054

9.0%

706

646

9.3%

294

274

7.3%

1,853

1,662

11.5%

136

137

(0.7%)

4,139

3,773

9.7%

360

285

26.3%

338

261

29.5%

98

75

30.7%

294

267

10.1%

182

150

21.3%

1,272

1,039

22.4%

7

3

133.3%

9

6

50.0%

0

0

-

56

41

36.6%

1

1

-

74

51

45.1%

117

103

13.6%

126

3

4100.0%

43

39

10.3%

146

105

39.0%

0

0

-

433

251

72.5%

0

0

-

56

52

7.7%

0

0

-

0

0

-

35

28

25.0%

92

80

15.0%

1,633

1,446

12.9%

1,235

967

27.7%

435

389

11.8%

2,350

2,075

13.3%

355

317

12.0%

6,009

5,194

15.7%

5,821

5,534

5.2%

3,819

3,586

6.5%

1,526

1,462

4.4%

4,952

4,580

8.1%

1,702

1,643

3.6%

17,821

16,805

6.0%

363

239

51.9%

308

195

57.9%

173

122

41.8%

212

136

55.9%

111

75

48.0%

1,169

767

52.4%

6,184

5,772

7.1%

4,128

3,781

9.2%

1,699

1,584

7.3%

5,164

4,717

9.5%

1,815

1,717

5.7%

18,990

17,572

8.1%

COELBA

CELPE

COSERN

ELEKTRO

ELEKTRO

CONSOLIDATED

6M24

6M23

%

6M24

6M23

%

6M24

6M23

%

6M24

6M23

%

6M24

6M23

%

6M24

6M23

%

4,217

3,989

5.7%

3,126

2,923

6.9%

1,306

1,228

6.4%

2,924

2,621

11.6%

1,284

1,223

5.0%

12,858

11,984

7.3%

259

344

(24.7%)

164

181

(9.4%)

63

79

(20.3%)

403

486

(17.1%)

14

20

(30.0%)

903

1,109

(18.6%)

1,431

1,510

(5.2%)

955

1,015

(5.9%)

378

404

(6.4%)

1,073

1,037

3.5%

711

708

0.4%

4,548

4,674

(2.7%)

1,121

974

15.1%

218

232

(6.0%)

169

183

(7.7%)

437

390

12.1%

61

61

-

2,006

1,840

9.0%

1,361

1,322

3.0%

757

923

(18.0%)

309

306

1.0%

630

634

(0.6%)

643

650

(1.1%)

3,700

3,836

(3.5%)

8,390

8,138

3.1%

5,220

5,274

(1.0%)

2,225

2,200

1.1%

5,467

5,168

5.8%

2,714

2,662

2.0%

24,016

23,442

2.4%

2,215

2,030

9.1%

1,360

1,322

2.9%

572

538

6.3%

3,555

3,176

11.9%

264

266

(0.8%)

7,966

7,331

8.7%

701

555

26.3%

644

508

26.8%

189

147

28.6%

605

524

15.5%

352

294

19.7%

2,491

2,027

22.9%

11

5

120.0%

19

9

111.1%

1

1

-

109

74

47.3%

3

2

50.0%

143

91

57.1%

234

208

12.5%

223

5

4360.0%

86

77

11.7%

280

212

32.1%

0

0

-

824

502

64.1%

0

0

-

116

105

10.5%

1

1

-

0

0

-

58

37

56.8%

175

143

22.4%

3,161

2,797

13.0%

2,362

1,949

21.2%

850

764

11.3%

4,549

3,985

14.2%

677

599

13.0%

11,599

10,094

14.9%

11,551

10,935

5.6%

7,582

7,223

5.0%

3,075

2,964

3.7%

10,016

9,153

9.4%

3,391

3,261

4.0%

35,615

33,536

6.2%

733

451

62.5%

609

371

64.2%

345

235

46.8%

437

274

59.5%

213

141

51.1%

2,338

1,472

58.8%

12,283

11,386

7.9%

8,191

7,594

7.9%

3,420

3,199

6.9%

10,453

9,427

10.9%

3,604

3,402

5.9%

37,953

35,008

8.4%

In the 2Q24, residential consumption increased in all 5 distributors, consolidating at 6,249 GWh, +7.1% above that recorded in the 2Q23, and 12,858 GWh in the 6M24, +7.3% vs. 6M23, mainly due to higher temperatures, in addition to the growth in customer base.

Captive industrial class consumption reduced by -20.6% in the 2Q24 vs. 2Q23 and -18.6% in the 6M24 vs. 6M23. However, when incorporating the free consumption of this class, there is a growth of +5.8% vs. 2Q23 and +5.1% vs. the 6M23

The captive commercial class consolidated 2,229 GWh in the 2Q24, -2.5% vs. 2Q23, and 4,548 GWh in the 6M24, -2.7% vs. 6M23. Including free consumers in this class, there is an increase of +5.3% vs. 2Q23 and +5.0% vs. the 6M23, mainly due to higher temperatures.

The captive rural class showed growth of +4.9% vs. 2Q23 and +9.0% vs. 6M23. When adding the growth of free consumers of this class, the increase was +6.9% in the quarter and +11.3% in the year-to-date, due to higher demand for irrigation.

NEOENERGIA S.A. | RELEASE 2Q24

5

Results as of June 30, 2024

Disclosed on July 23, 2024

The other classes (public service, public administration, streetlight, and own use) amounted to 1,855 GWh in the 2Q24, - 4.8% vs. 2Q23 and 3,700 GWh in the 6M24, -3.5% vs. 6M23. Incorporating the free consumers of this class, there is an increase of +4.0% vs. 2Q23 and +4.3% vs. 6M23, with emphasis on the Public Administration class.

1.1.1.3. Energy Balance

Total energy injected including DG amounted to 21,389 GWh in the 2Q24, +8.2% vs. 2Q23, and 43,553 GWh in the 6M24, +8.4% vs. 6M23, influenced by higher temperatures and the growth in the customer base.

ENERGY BALANCE (GWh)

2Q24

2Q23

2Q24 x 2Q23

6M24

6M23

6M24 x 6M23

Diff

%

Diff

%

CONSOLIDATED

Captive Market

11,812

11,611

201

1.7%

24,016

23,442

574

2.4%

Free Market + Supply

6,009

5,194

815

15.7%

11,599

10,094

1,505

14.9%

Distributed Energy (A)

17,821

16,805

1,016

6.0%

35,615

33,536

2,079

6.2%

Lost Energy (B)

2,606

2,452

154

Non-billed (C)

(372)

(408)

36

SIN + Isolated Systems (D) = (A) + (B) + (C)

20,054

18,850

1,206

DG Injected Energy (E)

1,335

914

421

TOTAL INJECTED ENERGY (F) = (D) + (E)

21,389

19,764

1,625

6.3%

5,391

4,933

458

9.3%

(8.8%)

(138)

(109)

(29)

26.6%

6.4%

40,869

38,359

2,510

6.5%

46.1%

2,684

1,835

849

46.3%

8.2%

43,553

40,194

3,359

8.4%

2Q24

2Q23

6M24

6M23

Captive Market

4,188

4,088

100

2.4%

8,390

8,138

252

3.1%

Free Market + Supply

1,633

1,446

188

12.9%

3,161

2,797

363

13.0%

Distributed Energy (A)

5,821

5,534

287

5.2%

11,551

10,935

616

5.6%

Lost Energy (B)

1,055

998

57

5.7%

2,165

1,972

193

9.8%

Non-billed (C)

(124)

(117)

(6)

6.0%

(2)

54

(56)

N/A

SIN + Isolated Systems (D) = (A) + (B) + (C)

6,753

6,415

338

5.3%

13,714

12,961

753

5.8%

DG Injected Energy (E)

421

291

130

44.7%

891

604

287

47.5%

TOTAL INJECTED ENERGY (F) = (D) + (E)

7,174

6,706

468

7.0%

14,605

13,565

1,040

7.7%

2Q24

2Q23

6M24

6M23

Captive Market

2,584

2,619

(35)

(1.3%)

5,220

5,274

(54)

(1.0%)

Free Market + Supply

1,235

967

269

27.7%

2,362

1,949

413

21.2%

Distributed Energy (A)

3,819

3,586

233

6.5%

7,582

7,223

359

5.0%

Lost Energy (B)

833

761

72

9.5%

1,725

1,550

175

11.3%

Non-billed (C)

(115)

(88)

(28)

30.7%

(8)

(50)

43

(84.0%)

SIN + Isolated Systems (D) = (A) + (B) + (C)

4,537

4,259

277

6.5%

9,300

8,723

577

6.6%

DG Injected Energy (E)

338

228

110

48.2%

663

441

222

50.3%

TOTAL INJECTED ENERGY (F) = (D) + (E)

4,875

4,487

388

8.6%

9,963

9,164

799

8.7%

NEOENERGIA S.A. | RELEASE 2Q24

6

Results as of June 30, 2024 Disclosed on July 23, 2024

ENERGY BALANCE (GWh)

2Q24

2Q23

2Q24 x 2Q23

Diff %

6M24

6M23

6M24 x 6M23

Diff %

2Q24

2Q23

6M24

6M23

Captive Market

1,091

1,073

18

1.7%

2,225

2,200

25

1.1%

Free Market + Supply

435

389

46

11.8%

850

764

86

11.3%

Distributed Energy (A)

1,526

1,462

64

4.4%

3,075

2,964

111

3.7%

Lost Energy (B)

136

126

10

7.9%

295

264

30

11.7%

Non-billed (C)

(37)

(28)

(9)

32.1%

(36)

(53)

17

(32.1%)

SIN + Isolated Systems (D) = (A) + (B) + (C)

1,625

1,560

65

4.2%

3,334

3,175

159

5.0%

DG Injected Energy (E)

191

143

48

33.6%

387

282

105

37.2%

TOTAL INJECTED ENERGY (F) = (D) + (E)

1,816

1,703

113

6.6%

3,721

3,457

264

7.6%

2Q24

2Q23

6M24

6M23

Captive Market

2,602

2,505

97

3.9%

5,467

5,168

299

5.8%

Free Market + Supply

2,350

2,075

275

13.3%

4,549

3,985

564

14.2%

Distributed Energy (A)

4,952

4,580

372

8.1%

10,016

9,153

863

9.4%

Lost Energy (B)

363

347

16

4.6%

788

712

77

10.7%

Non-billed (C)

(79)

(148)

70

(46.6%)

(79)

(35)

(43)

125.7%

SIN + Isolated Systems (D) = (A) + (B) + (C)

5,236

4,779

458

9.6%

10,726

9,829

897

9.1%

DG Injected Energy (E)

250

171

79

46.2%

499

343

157

45.5%

TOTAL INJECTED ENERGY (F) = (D) + (E)

5,486

4,950

536

10.8%

11,225

10,172

1,053

10.4%

2Q24

2Q23

6M24

6M23

Captive Market

1,347

1,326

21

1.6%

2,714

2,662

52

2.0%

Free Market + Supply

355

317

39

12.0%

677

599

78

13.0%

Distributed Energy (A)

1,702

1,643

59

3.6%

3,391

3,261

130

4.0%

Lost Energy (B)

218

220

(2)

(0.9%)

418

434

(17)

(3.7%)

Non-billed (C)

(17)

(26)

9

(34.6%)

(13)

(24)

11

(45.8%)

SIN + Isolated Systems (D) = (A) + (B) + (C)

1,903

1,837

66

3.6%

3,795

3,671

124

3.4%

DG Injected Energy (E)

134

81

53

65.4%

243

164

79

48.2%

TOTAL INJECTED ENERGY (F) = (D) + (E)

2,037

1,918

119

6.2%

4,038

3,835

203

5.3%

NOTE: Distributed energy does not consider DG compensation energy.

1.1.1.4. Losses

Energy losses are monitored through the percentage index that calculates the ratio between the energy injected and the energy billed, accumulated over a 12-month period. Based on this methodology, we present below the evolution of the indicator and the comparison with the tariff coverage.

NEOENERGIA S.A. | RELEASE 2Q24

7

Results as of June 30, 2024

Disclosed on July 23, 2024

Losses 12 months (%)

DISCOS

Technical Loss

Non-Technical Loss

Total Losses

2Q23

3Q23

4Q23

1Q24

2Q24

2Q23

3Q23

4Q23

1Q24

2Q24

2Q23

3Q23

4Q23

1Q24

2Q24

Aneel 24

10.55%

10.58%

10.74%

10.81%

10.73%

4.05%

4.46%

5.31%

5.31%

5.38%

14.60%

15.04%

16.05%

16.12%

16.11%

15.49%

8.87%

9.04%

9.09%

9.19%

9.16%

7.95%

8.14%

8.37%

8.95%

8.95%

16.82%

17.18%

17.46%

18.15%

18.11%

15.30%

8.04%

7.88%

7.86%

7.85%

7.76%

(0.03%)

0.53%

0.33%

0.93%

0.95%

8.02%

8.41%

8.19%

8.77%

8.71%

10.32%

6.03%

6.00%

5.99%

5.93%

5.93%

0.98%

1.53%

1.93%

1.57%

1.82%

7.01%

7.53%

7.92%

7.50%

7.75%

7.81%

8.21%

8.21%

8.15%

8.17%

8.20%

2.66%

3.01%

3.26%

2.98%

2.95%

10.88%

11.22%

11.41%

11.15%

11.15%

11.76%

Check

0.00%

0.00%

0.00%

0.00%

0.00%

0%

0%

0%

0.00%

0.00%

0%

0%

0%

0.00%

0.00%

0.00%

Total Losses 12 months (GWh)

DISCOS

Technical Loss

Non-Technical Loss

Perda Total

2Q23

3Q23

4Q23

1Q24

2Q24

2Q23

3Q23

4Q23

1Q24

2Q24

2Q23

3Q23

4Q23

1Q24

2Q24

Aneel 24

2,680

2,714

2,850

2,913

2,928

1,030

1,146

1,407

1,430

1,466

3,710

3,860

4,258

4,343

4,394

4,184

1,523

1,561

1,583

1,628

1,648

1,362

1,405

1,457

1,585

1,609

2,885

2,966

3,040

3,213

3,257

2,660

514

509

509

515

514

(2)

34

21

61

63

513

543

530

576

577

695

1,191

1,192

1,215

1,229

1,255

194

305

392

326

386

1,385

1,497

1,607

1,555

1,640

1,654

613

615

625

630

639

199

226

250

230

230

812

841

874

861

868

920

NOTES: (1) Due to the fact that the deadline for calculating the June 2024 loss indicator falls after the period of disclosure of this report, the data presented are estimates. The 2023 indicators were adjusted for the final calculation. (2) The table normalizes the impact of ANEEL Normative Resolution 1000/2021, which is null as of the 3Q23. (3) 12-month regulatory limit.

Neoenergia Coelba presented total 12-month losses of 16.11% in the 2Q24 driven by the high temperatures of the semester that made the load 7.7% greater than that of the 6M23, causing Unbilled energy to increase, thus affecting the indicator. This impact on the indicator was +0.73 p.p. Excluding this effect, the indicator would be 15.38%, below the regulatory limit of 15.49%. It is worth noting that the effect of Unbilled energy does not impact the Company's Economic Results.

At Neoenergia Pernambuco, total 12-month losses ended the 2Q24 at 18.11%, above the regulatory level of 15.30%.

Neoenergia Cosern ended the 2Q24 at 8.71%, remaining below its regulatory limit of 10.32%.

Total 12-month losses at Neoenergia Elektro ended the period at 7.75%, also below the regulatory limit of 7.81%.

Finally, Neoenergia Brasília recorded total 12-month losses of 11.15% in the 2Q24, remaining below its regulatory limit of 11.76%.

In the 6M24, the actions that follow were adopted to fight losses at the 5 distributors:

  1. Carrying out more than 183 thousand inspections, recovering more than 265 GWh;
  2. Replacement of more than 114 thousand obsolete meters with more modern equipment;
  3. Regularization of more than 77 thousand illegal connections;
  4. Survey and supervision of Streetlight in 118 thousand points recovering more than 18 GWh; and
  5. Carrying out 98 actions with police support.

1.1.1.5. Collection and delinquency

The collection index reflects the ability of customers to pay and the Company's efficiency of collection.

NEOENERGIA S.A. | RELEASE 2Q24

8

Results as of June 30, 2024

Disclosed on July 23, 2024

The chart below shows the year-to-date result of the past 12 months and its performance compared to the previous periods.

+0.90 p.p.

99.42%

97.96%

98.52%

2Q23

1Q24

2Q24

97.91%

2Q23

+0.25 p.p.

97.06%

97.31%

1Q24

2Q24

99.47%

2Q23

+0.13 p.p.

98.20%

98.33%

1Q24

2Q24

97.58%

2Q23

+0.53 p.p.

96.29%

96.82%

1Q24

2Q24

97.06%

2Q23

(0.39 p.p.)

95.92%

95.53%

1Q24

2Q24

+0.45 p.p.

97.90%

97.38%

97.83%

2Q23 1Q24 2Q24

Based on the charts above, we see an increase in the consolidated collection rate compared to the 1Q24, reaching 97.83% in the 2Q24 explained by the successful collection actions.

NEOENERGIA S.A. | RELEASE 2Q24

9

Results as of June 30, 2024

Disclosed on July 23, 2024

PECLD / GROSS REVENUE

2Q23

3Q23

4Q23

1Q24

2Q24

2Q23 x 2Q24

Regulatory

Limit

Gross Revenue

4,030

3,972

4,565

4,234

4,025

(0.11%)

4,035

PECLD

81

52

41

54

47

(42.46%)

50

Delinquency

2.01%

1.30%

0.91%

1.28%

1.16%

(0.85 p.p.)

1.23%

Gross Revenue

2,277

2,205

2,488

2,619

2,436

6.97%

2,437

4

PECLD

60

51

53

61

60

(0.50%)

40

Delinquency

2.64%

2.32%

2.13%

2.34%

2.46%

(0.18 p.p.)

1.65%

Gross Revenue

933

942

1,021

1,006

1,016

8.83%

1,016

PECLD

(4)

4

5

6

3

N/A

5

Delinquency

(0.43%)

0.38%

0.50%

0.58%

0.32%

0.75 p.p.

0.51%

Gross Revenue

2,540

2,753

3,171

3,207

2,968

16.85%

2,968

PECLD

26

15

36

31

26

(0.52%)

18

Delinquency

1.03%

0.55%

1.15%

0.97%

0.88%

(0.15 p.p.)

0.61%

Gross Revenue

1,156

1,216

1,443

1,353

1,342

16.14%

1,344

PECLD

10

13

13

13

8

(12.81%)

8

Delinquency

0.82%

1.07%

0.88%

0.94%

0.62%

(0.21 p.p.)

0.58%

NOTE: PECLD considers the accrued amount + restatement.

In the 2Q24, several collection actions were taken at the 5 distributors with the aim of reducing the delinquency rate and, consequently, improving collection. Among them, we should highlight:

  1. Carrying out of 482 thousand supply disconnections through operations in georeferenced concentrations, mapping the location of customers with the highest incidence of delinquency to optimize actions;
  2. Monitoring of 133 thousand customer facilities that underwent supply disconnection;
  3. Negative entries of 2.8 million consumers;
  4. Protest of more than 151 thousand titles through registry offices and forwarding of notices;
  5. 7 million outsourced collections through collection consultancy services;
  6. Systematic actions for Large Clients and negotiations with Public Authorities;
  7. Use of new technologies with the aim of providing the option of paying energy bills using a debit or credit card;
  8. Negotiations with 378 thousand consumers on the digital platform;
  9. Notification of 800 thousand customers via WhatsApp;
  10. Debt settlements for approximately 10 thousand consumers included in the Federal Government's Program Desenrola, which ended on May 20th.

NEOENERGIA S.A. | RELEASE 2Q24

10

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