Results Presentation 3Q25

Uso Público CPFL

‌3Q25 Results

Energy for a more sustainable future

‌Initial Guidelines

Simultaneous Translation

into English:

Q&A Session

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"English"

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For the English version of the presentation, please access: https://www.cpfl.com.br/ir

CAPEX

‌Highlights

Results

EBITDA

R$ 3,165 MM

+0.3% in 3Q25

R$ 10,044 MM

+1.9% in 9M25

Business & ESG

Transmission Expansion

CPFL Transmissão won Lot 3 in Auction 04/2025 with assets in Paraná and Rio Grande do Sul, and a total

RAP of R$ 81 MM

Net Debt

R$ 1,376 MM

+3.3% in 3Q25

R$ 4,178 MM

-0.2% in 9M25

Net Income

R$ 28.7 billion

with a leverage of

2.19x Net Debt/EBITDA²

Extel Award

CPFL Energia was awarded as Most Honored Company for the 2nd consecutive year for the best Investor Relations practices

Distribution ADA

R$ 1,733 MM

+19.2% in 3Q25

R$ 4,393 MM

+12.6% in 9M25

Decrease of

-24.7% in 3Q25

Decrease of

-31.1% in 9M25

Other Awards

Abradee Distributors widely recognized

ANEEL Innovation CPFL Transmissão and CPFL Santa Cruz

1) Load net of losses; 2) In the financial covenants criteria.

03

‌CPFL at COP 30

Relevance

• Focus of COP30: reduction on carbon emissions and

energy transition acceleration

Opportunities for CPFL

• Reinforce leadership as low carbon company & 100% renewable portfolio

• Presentation of cases that promote climate change

  mitigation

• Position CPFL in the sectorial discussions regarding climate change and resilience

CPFL contributions to COP30 Agenda

Concrete Deliverables on Low-Carbon Emission Strategy

Joining the Brazilian Power Sector Coalition

CPFL in Hospitals and CPFL Equipment Refurbishment awarded

2 Cases approved to be part of SBCOP1 Booklet:

• Electric Fleet

• Refurbishment Site

2 Panels in CNI Stand (Bluezone)

CPFL's partners at COP30

1) SBCOP: Global initiative led by CNI launched for COP30. 04

‌3Q25 Distribution Energy Sales

Energy sales by consumption segment | GWh

-0.6%

46 (3) (55) (80) (20)

Key industrial sectors

1.9%

-0.4%

17,442 17,331

-1.1%

+0.9% 0.0% -1.9% -11.6% -1.1%

3 Q 24 Resid. Indust. Commerc. Rural Others 3 Q 25

Main impacts by segment | % Average temperature² | °C

Breakdown 31.8% 36.7% 17.1% 4.0% 10.4%

-1.6 ºC -0.4ºC

21.4

19.8

20.4ºC

15.9

15.5

15.7ºC

São Paulo Rio Grande do Sul

3Q24 3Q25 LTA³

05

1) Market Share by segment; 2) The consolidated average temperature considers daily historical temperature data in the period; 3) Long Term Average referring to last 21 years.

‌9M25 Distribution Energy Sales

Energy sales by consumption segment | GWh

-0.2%

Key industrial sectors

2.7%

-0.4% -1.0% -0.7%

Food

(19.1%¹)

-3.8%

Chemicals

(12.6%¹)

Rubber & Plastic (10.4%¹)

Vehicles

(7.8%¹)

Metallurgy

(6.0%¹)

Main impacts by segment | % Average temperature² | °C

Breakdown 31.8% 36.7% 17.1% 4.0% 10.4%

-1.5ºC -0.4ºC

22.0ºC

18.9ºC

23.3

21.8

19.4

19.0

São Paulo Rio Grande do Sul

9M24 9M25 LTA³

06

1) Market Share by segment; 2) The consolidated average temperature considers daily historical temperature data in the period; 3) Long Term Average referring to last 21 years.

‌Distribution Delinquency

ADA | R$ million

96.8

1.22%

-24.7%

79.8 76.5

0.90%

+15.9%

72.8

62.9

0.91%

ADA

% ADA /

Revenue from

ADA | R$ million

-31.1%

0.87% 0.82%

3Q24 4Q24 1Q25 2Q25 3Q25

Collection actions | Power cuts | Thousands

+30.4%

Sales to Final Clients

9M24 9M25

ADA

307.9

212.1

1.21%

0.87%

% ADA /

Revenue from Sales to Final Clients

549

725

604

717 716

Monthly average

183 241 201 239 239

power cuts

07

3Q24 4Q24 1Q25 2Q25 3Q25

‌Distribution Losses

Losses | Last 12 months1

Inspection Plan | 9M25

Inspections 279 thousand

(+9%)

Police Operations to Fight Fraud

181

(+48%)

Fraud Report 58 thousand

(+17%)

Fraud Report Hit-rate

30%

(versus average of 21%

of all initiatives)

1. Excluding the differences in the billing calendar, losses in Sep-25 would show the following variation: Paulista:

   -0.53 p.p; Piratininga: -0.30 p.p; RGE: -0.29 p.p; Santa Cruz: -0.22 p.p;

2. ANEEL Limit referring to 09/30/2025;

3. In RGE, high-voltage customers (A1) were disregarded;

4. ANEEL Limit referring to 10/23/2025. 08

‌Hydro Performance

Average PLD (SE/MW) | R$/MWh

+47.5% 9M24

R$ 98

9M25

R$ 210

PLD in the Southeast/Mid-West submarket was affected by lower inflows in this region, partially offset

by a good season in the

3Q24 4Q24 1Q25 2Q25 3Q25

+113.2%

South submarket

GSF

87%

107% 94%

81%

64%

9M24

90%

9M25

88%

3Q24 4Q24 1Q25 2Q25 3Q25

-0.9%

09

‌Wind Farms Performance

Net Generation | MWavg

Availability

Curtailment over Total Generation1 | MWavg

+9.8 p.p.

9M24

18.8%

206

27.5%

143

62

108

276

37.3%

9M25

28.7%

The increase in ONS restrictions, and a slightly lower volume of wind contributed to a negative wind

21.8% 16.8% 24.2%

3Q24 4Q24 1Q25 2Q25 3Q25

Curtailment Impact over Generation

1) Not only over wind farms connected on National Grid.

+10.0 p.p.

generation performance

Disregarding curtailment, wind generation would be in line in 3Q25.

10

3Q25 Results

‌Uso Público CPFL

EBITDA performance by segment | R$ million

Distribution: R$ 1,839 MM

+0.3% | + 9 MM

188 (37) (125) (15)

Generation: R$ 1,070 MM

Transmission: R$ 248 MM

+11.4% -3.4%

-33.6%

-66.6%

3Q24 Distribution Generation Transmission Comm, Services

11

& Others

3Q25

Comm, Services & Others: R$ 8 MM

‌3Q25 Results

EBITDA performance by segment | R$ million

+0.3% | + 9 MM

188 (37) (125) (15)

Distribution: R$ 1,839 MM

EBITDA: +R$ 188 MM

239 MM Market/Tariff

24 MM ADA

7 MM Flood Impact in RS State in 3Q24

+11.4% -3.4%

-33.6%

-66.6%

77 MM PMSO + Private Pension Plan

3Q24 Distribution Generation Transmission Comm,

Services & Others

3Q25

31 MM Concession financial asset

26 MM Others

12

‌3Q25 Results

EBITDA performance by segment | R$ million

+0.3% | + 9 MM

188 (37) (125) (15)

Generation: R$ 1,070 MM EBITDA: -R$ 37 MM

62 MM Contracts Termination (Biomass/Epasa)

38 MM GSF of free market

1 MM Wind Generation

⎩ - 70 MM Curtailment

+11.4% -3.4%

-33.6%

-66.6%

⎩ + 69 MM Wind/Mix

3Q24 Distribution Generation Transmission Comm,

Services & Others

3Q25

82 MM Energy Contract Readjustments 8 MM Flood Impact in RS State in 3Q24 26 MM Others

13

‌3Q25 Results

EBITDA performance by segment | R$ million

+0.3% | + 9 MM

188 (37) (125) (15)

Transmission

IFRS: R$ 248 MM EBITDA: -R$ 125 MM

89 MM Margin

35 MM PMSO

+11.4% -3.4%

-33.6%

-66.6%

Regulatory: R$ 199 MM

3Q24 Distribution Generation Transmission Comm,

Services & Others

3Q25

EBITDA: +R$ 18 MM

26 MM Net Revenue - RAP adjustment

9 MM PMSO

14

‌3Q25 Results

EBITDA performance by segment | R$ million

+0.3% | + 9 MM

188 (37) (125) (15)

Comm, Services & Others: R$ 8 MM

EBITDA: -R$ 15 MM

+11.4% -3.4%

-33.6%

-66.6%

28 MM Commercialization Margin

21 MM Services - mainly CPFL Serviços

7 MM Others

3Q24 Distribution Generation Transmission Comm,

Services & Others

3Q25

15

3Q25 Results

‌Uso Público CPFL

Net Income | R$ million

+3.3% | +45 MM

9 4 (13) 44

Financial Result:

+R$ 4 MM

142 MM Mark-to-market (non-cash)

63 MM Adjustments to the Regulatory

Asset and Liabilities

1,332

+0.3% -0.6%

+2.2%

-8.9%

184 MM Expenses with net debt

1,376

3Q24 EBITDA Financial Result Depreciation/

Amortization

IR/CS 3Q25

17 MM Others

16

9M25 Results

‌Uso Público CPFL

EBITDA performance by segment | R$ million

+1.9% | + 187 MM

620 (188) (84) (162)

9,858

10,044

Distribution: R$ 6,497 MM

Lower ADA, Parcel B gain and Concession Financial Asset

Generation: R$ 2,731 MM

-R$ 165 MM

Transmission: R$ 779 MM

+10.5% -6.4%

-9.7%

-81.2%

-R$ 44 MM

9M24 Distribution Generation Transmission Comm, Services

& Others

9M25

Comm, Services & Others: R$ 37 MM

17

Lower Commercialization margin

9M25 Results

‌Uso Público CPFL

Net Income | R$ million

-0.2% | -10 MM

187 (0) (69) (128)

Financial Results:

Financial results were impacted by Mark-to-market - non-cash effect (+R$ 401 MM) and Others (+R$ 92 MM), partially

offset by the Expenses with

+1.9% -0.02%

+4.0%

+7.6%

Net Debt (-R$ 493 MM)

9M24 EBITDA Financial Result Depreciation/

18

Amortization

IR/CS 9M25

‌Leverage

Covenants Criteria | R$ billion

27.0

27.3 28.7

Global Rating

BBB

Three notches above sovereign rating

26.6

26.5

2.19

Baa2

Two notches above sovereign rating

2.04 2.07 2.04 2.07

Adjusted Net Debt1/ Adjusted

Latest Funding

EBITDA1;2

Adjusted EBITDA1;2

3Q24 4Q24 1Q25 2Q25 3Q25

1. Adjusted by the proportional consolidation of Generation assets and considering intercompany loans; 2) LTM EBITDA, according to covenants criteria.

   Average Term

   Debentures	Coupon Cost	R$ MM
   CPFL Paulista	IPCA (+) 6.90%	570
   RGE	IPCA (+) 6.90%	351
   CPFL Piratininga	IPCA (+) 6.90%	106
   Total Amount		1,027

   9 years 19

   
   
   
   
   
   ‌Indebtedness | IFRS

   Gross debt cost¹ | End of period

   Nominal

   Real

   11,9%

   6,9%

   12,2%

   7,0%

   14,0%

   8,0%

   14,3%

   8,5%

   14,2%

   8,6%

   2023

   2024

   1Q25

   2Q25

   3Q25

   Gross debt breakdown by indexer | End of period

   1%

   21%

   CDI

   Inflation TJLP

   78%

   1) Financial debt (-) hedge.

   
   
   

   Debt Amortization Schedule² | End of period

   Cash Coverage:

   1.15x³ Short-Term Amortization (12 months)

   Average Tenor:

   3.92 years

   
   
   

   SGEL

   2.998 Intercompany

   Loan

   9.234

   5.891

   5.866

   3.708

   3.468

   4.152

   1.813

   2.374

   
   
   

   Cash 2025 2026 2027 2028 2029 2030 2030+

   20

2. Considering only the notional and hedge of the debt, in addition to intercompany loans. In order to reach the total financial debt, it should be included charges, the mark-to-market (MTM) effect and funding costs; 3) Considering the amount of R$ 3.8 billion of Marketable Securities, according to covenants criteria.

‌Capex

& Services

Total Distribution Generation Transmission Commercialization

3Q25

R$ 1,733 MM

+19.2%

R$ 1,416 MM R$ 73 MM R$ 215 MM R$ 29 MM

+27.4% -42.0% +7.3% +80.0%

• 81.7% of total

• Expansion, improvements, modernization, and customer service

• Vehicles, IT, infrastructure, equipment, environment

• 4.2% of total

• Maintenance of power plants and farms

• Vehicles, IT, infrastructure

  • 12.4% of total

  • CPFL Transmissão expansion and improvements

    • 1.7% of total

    • Vehicles, IT, Equipment

and Infrastructure

9M25

R$ 4,393 MM

+12.6%

R$ 3,629 MM R$ 168 MM R$ 557 MM R$ 39 MM

+16.7% -38.5% +21.6% -34.3%

21

‌Transmission Auction nº 04/2025

Lot 3

Paraná and Rio

Grande do Sul states

Operational start

Feb/30

Large synergy with CPFL group bussiness operation

• Operational Efficiency (OPEX e CAPEX)

• Low financing cost

  115 km in lines and 4 new subestations

  Aneel CAPEX

  R$ 1,069 MM

  RAP

  of R$ 81 MM

  New substations (lot 3) Lines/isolating switches (lot 3)

  CPFL RGE concession
  
  

  Substations (88 operational)

  22

  
  
  ‌Q&A Session 01 Click on

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