Américas – Consolidated Results Presentation – Q1 2026

‌First Quarter

Enel Américas

Consolidated results

April 30th, 2026

‌Q1 2026

Key highlights and operational performance

Giuseppe Turchiarelli

CEO

‌Q1 2026 Key highlights

Investments

CAPEX

USD 0.45 bn

+10%YoY

Investments aligned with Strategic Plan goals

+4% increase on investments, aligned with implemented tariff scheme Grids CAPEX increased 42% mainly focused on digitalization and resilience Lower investments execution due to completion of Guayepo III

Financial results

EBITDA

USD 1.17 bn

+16%YoY

Strong performance in Grids and Fx appreciation boosted EBITDA

2x EBITDA due to tariff indexation and higher volumes

+15% EBITDA growth boosted by Grids and BRL appreciation

Tariff indexation on Grids and COP appreciation led to +12% EBITDA increase

Profitability

Netincome

USD 0.27 bn

+9%YoY

Net income expansion led by higher EBITDA and stable financial results Total dividend approved of USD 280 mn by Annual Shareholders' Meeting

Early cancellation of 4% treasury shares approved by Extraordinary Shareholders' Meeting

3

‌Regulatory scenario

Relevant topics

Key recent and expected developments for our main markets

Framework agreement signed with the Energy Secretariat, recognizing electricity consumption in low-income neighborhoods, with compensation of energy purchases from CAMMESA from 2024 to March 2026. This represents a positive effect on EBITDA of USD 18 million

Enel Dx São Paulo: ANEEL1 started an administrative process to evaluate a possible recommendation regarding the early termination of the concession to the Ministry of Mines and Energy.

Dx concession renewal:

• Enel Dx Rio and Enel Dx Ceará: Waiting for Ministry of Mines and Energy's approval, after positive recommendation from ANEEL.

• Enel Dx São Paulo process currently suspended

  Annual tariff adjustments:

• Enel Dx Rio: Published on March 10, approved an average increase of 15.46%

• Enel Dx Ceará: Published on April 22, approved an average increase of 5.78%

• Enel Dx São Paulo: Expected by July 2026

  Economic Emergency Decree (Decree 150/2026, issued on February 11, 2026) and subsequent decrees:

• Decree 0173 on Estate Tax: One-time application, with an effect of USD 19 million registered on Q1'26 EBITDA

(1) Electricity Regulatory Agency 4

‌Gross CAPEX

Grids CAPEX breakdown2

Focus on Grids aligned with Strategic Plan goals; Brazil leads CAPEX growth

CAPEX by country and business1

1%

11%

21%

USD 446 mn

(+10% YoY)

68%

12%

USD 446 mn

(+10% YoY)

88%

Networks upgrade

growth

+50% YoY

37%

33%

USD 391 mn

(+30% YoY)

30%

Argentina

Brazil

Colombia

Others3

Grids Integrated business

Networks upgrade Ordinary Connections

Rounded figures. (1) Integrated business' includes generation and customers; (2) Networks upgrade include CAPEX in resilience, digitalization & climate change, among others; Ordinary includes asset 5

maintenance CAPEX; (3) Includes CAPEX from Central America (USD 2 mn) and Peru (USD 2 mn)

‌Grids operational highlights

Quality indicators2

Continued deployment of smart meters reinforcing our digitalization efforts

Electricity distributed (TWh)

Grids customers (mn)

+2%

27.6 28.2

22.7

+377k

23.1

Edesur

Enel São Paulo Enel Rio

Enel Ceará Enel Colombia

16.5

6.4

8.4

17.5

6.9

8.2

9.0 8.8

8.1 7.3

SAIDI (hours)

Q1 2025 Q1 2026

8.2

3.2

4.8

9.3

4.0

4.0

4.1 4.7

8.3 7.3

SAIFI (times)

Q1 2025 Q1 2026

Energy losses

Q1 2025 Q1 2026

Smart meters

(th)

Net RAB1 (USD bn)

Net RAB / Grid customer1 (USD)

7.5%

7.7%

Enel Colombia

Rounded figures. (1) Figures net of Fx effect; (2) SAIFI: System Average Interruption Frequency Index; SAIDI: System Average Interruption Duration Index. Last twelve months regulatory data, aligned to KPIs 6

reported to local regulator.

‌Installed capacity & net production

Lower hydro generation in Colombia and lower wind resources in Brazil

Net installed capacity (GW) Net production1 (TWh)

96%

4% renewables

Capacity by country

Enel Américas1

-8%

Brazil

-28%

Colombia & Central America

6.6 GW

9.6

0.1

3.1

0.2

8.8

Curtailment

(TWh)

0.8

0.6 - -

26%

41%

4.5 GW

3.6

4.8

-11% 4.7 -6%

4.4

12.1

GW

0.7 GW

4.3

0.40.1

29%

Hydro Wind

0.3 GW

Solar Thermal

98%

Q1 2025

99%

Q1 2026

5.6

5.8

Emission-free production

Q1 2025 Q1 2026

Hydro

Wind & Solar Thermal

Q1 2025 Q1 2026

0.3 GW projects in execution

Rounded figures. (1) Enel Américas includes Central America and Peru. Argentina is excluded for 2025 due to the non-renewal of El Chocón hydropower concession

‌Energy balance

Lower sales mainly explained by lower production and lower trading activity

Energy balance (TWh)

Enel Américas1

-8%

12.0 12.0

Brazil

Colombia & Central America

9.6

2.4

0.3

11.0 11.0

8.8

5.1

0.1 2.1

6.8 6.8

-9% -5%

6.3

6.2 6.2

5.2 5.2 5.0 5.0

0.2 1.1

Sourcing Sales Sourcing Sales Sourcing Sales Sourcing Sales Sourcing Sales Sourcing Sales

Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026

Production Third party purchases Net spot2 Regulated sales Unregulated sales

Rounded figures. (1) Enel Américas includes Central America and Peru. Argentina is excluded for 2025 due to the non-renewal of El Chocón hydropower concession; (2) Net amount of spot purchases and sales

‌Q1 2026

Economic and financial performance

Rafael de la Haza

CFO

‌Financial highlights

Q1 2026

Q1 2025

Q1 2026

Q1 2025

Q1 2026

Q1 2025

0.1

0.5

0.3

0.2

1.0

-84%

+9%

1.2

+16%

FFO

(USD bn)

Net income

(USD bn)

EBITDA

(USD bn)

EBITDA growth led by Grids in Argentina, Brazil and Colombia

EBITDA increase mainly due to higher tariff indexation in Argentina, Brazil and Colombia and currency appreciation

Net income improvement on higher EBITDA and stable financial results, partially offset by higher income tax expenses

Positive FFO despite NWC pressure in Brazil related to higher CVA due to higher energy costs

‌EBITDA breakdown: Q1 2026 results

Growth in Grids positive Fx dynamics boosted EBITDA

EBITDA evolution by business line (USD mn) EBITDA breakdown

+16%

+5%

1,015

(4)

1,070

103

(64)

124

1,174

39%

5%

1%

5%

USD 1,174 mn

50%

Argentina Brazil

Colombia Peru

C. America

1%

Q1'25

Integrated business

Grids

Others1 Adj. Q1'26 Fx Q1'26

34%

USD

1,174 mn

65%

Grids

Integrated business Others



‌Cash flow (USD bn)

Positive FFO despite NWC pressure in Brazil

1.17

(0.13)

0.08

EBITDA

NWC 1

Taxes paid

Net financial expenses

FFO 2

CAPEX 3

(0.37)

FCF 4

1.02

(0.34)

(0.10)

(0.10)

0.47

(0.41)

0.06

Q1 2025

Rounded figures. (1) Net working capital; (2) Funds from operations; (3) CAPEX accrued gross of contributions and connections fees. Differences between CAPEX accrued and CAPEX paid are included in the NWC; 12

(4) Free cash flow.

‌Debt (USD bn)

Net debt increase due to Fx appreciation, dividend payments and negative FCF

3%

9% 1%

36%

USD

7.4 bn

52%

Gross and net debt1

Net debt evolution

Gross debt breakdown

+8%

6.8

2.0

1.7

7.4

4.8

0.4

0.1

0.4

5.6

+17%

BRL COP USD ARS PEN

Dec. 25 Mar. 26

Net debt

/ EBITDA2

Dec. 25

FCF

Dividend paid

Cost of gross debt

+140 bps

FX Mar. 26

Brazil Colombia

8% 1%

1%

USD

7.4 bn

3%

52%

36%

Holding Argentina C. America Peru







Net Debt Cash3

(1) Gross & net debt exclude accrued interests and adjustments after derivatives; (2) Annualized ratio. Net debt does not include pension fund liability in Dx Sao Paulo. Including Sao Paulo pension fund: 1.3x; 13

(3) Cash and cash equiv. + 90-day cash investments.

‌Closing remarks

Continued capital allocation in Grids at the core of our

strategy

1

Strong results led by Grids across all countries and currency

appreciation

2

Focus on regulatory advocacy efforts to ensure business continuity

3

‌Q1 2026

Annexes

‌Current scenario

Local currencies, inflation, electricity distributed and interest rates

Macroeconomic variables1 Electricity distributed Interest rates

∆% Q12

'26 vs '25

12%

10%

-29%

Local currencies vs USD

March 2025

March 2026

55.9% 32.6%

5.5%

4.1%

5.1%

5.6%

1.2%

-2.1%

1.6%

2.5%

-0.5%

0.9%

Inflation3

Argentina

Brazil

Arg

9.50%

10.25%

-

1%

5%

Colombia Costa Rica Guatemala

Colombia

2.2%

MPR4

Panama

∆% Q1 '26 vs '25



‌Operating exhibits

Distribution companies

17

‌Operating exhibits

Net installed capacity & Total net production: Breakdown by source and geography

18

‌Grids business results

Quarterly results

YTD EBITDA by country (USD mn)

Q1 EBITDA evolution (USD mn)

+30%

8%

31%

798

(+30% YoY)

61%

798

613

Q1 2025 Q1 2026

Argentina Brazil Colombia

‌Generation business results

YTD EBITDA by country (USD mn)

Quarterly results

Q1 EBITDA evolution (USD mn)

-6%

14%

29%

382

(-6% YoY)

57%

382

407

Q1 2025 Q1 2026

Brazil Colombia C. America

‌Argentina (USD mn)

Grids1

Q1 2025

Q1 2026

%

Q1 2025

Q1 2026

%

Q1 2025

Q1 2026

Quarterly results

Generation1

Revenues

13

2

-87%

410

419

2%

423

421

Procurements and Services

-1

0

-87%

-276

-265

-4%

-277

-265

-4%

OPEX

-3

-2

-33%

-112

-90

-20%

-115

-92

EBITDA

9

0

<-100%

22

65

>100%

31

64

Net Income

3

-9

<-100%

-18

27

<-100%

-19

3

Gross Capex

0

0

<-100%

47

49

4%

47

49

Net Production (GWh)

519

58

-89%

-

-

-

519

58

-89%

Energy Sales (GWh)

520

0

-100%

4,524

4,543

0%

-

-

-

Av. Spot Price ($US/MWh)

N.A.

N.A.

-

-

-

-

N.A.

N.A.

-

‌Brazil (USD mn)

Grids1

Q1 2025

Q1 2026

%

Q1 2025

Q1 2026

%

Q1 2025

Q1 2026

Quarterly results

Generation1

Revenues

295

446

51%

1,577

2,018

28%

1,875

2,449

Procurements and Services

-136

-301

>100%

-1,012

-1,299

28%

-1,142

-1,579

38%

OPEX

-29

-35

21%

-176

-230

31%

-223

-283

EBITDA

130

110

-16%

390

489

25%

509

587

Net Income

50

24

-53%

73

94

28%

138

145

Gross Capex

31

8

-73%

206

293

42%

238

302

Net Production (GWh)

4,809

4,278

-11%

-

-

-

4,809

4,278

-11%

Energy Sales (GWh)

6,773

6,156

-9%

19,331

19,806

2%

-

-

-

Av. Spot Price ($US/MWh)3

27

59

>100%

-

-

-

27

59

>100%

‌Colombia (USD mn)

Grids1

Q1 2025

Q1 2026

%

Q1 2025

Q1 2026

%

Q1 2025

Q1 2026

Quarterly results

Generation1

Revenues

411

383

-7%

540

629

16%

899

961

Procurements and Services

-176

-130

-26%

-301

-334

11%

-423

-413

-2%

OPEX

-22

-35

59%

-39

-50

30%

-61

-86

EBITDA

213

218

2%

200

245

22%

414

462

Net Income

116

101

-13%

87

106

21%

203

207

Gross Capex

70

40

-43%

50

52

4%

120

92

Net Production (GWh)

3,974

3,723

-6%

-

-

-

3,974

3,723

-6%

Energy Sales (GWh)

5,273

5,222

-1%

3,770

3,851

2%

-

-

-

Av. Spot Price ($US/MWh)

94

50

-46%

-

-

-

94

50

-46%

‌Central America (USD mn)

76

83

Revenues

Quarterly results

-9%

‌Peru (USD mn)

Quarterly results

‌Consolidated financial position

Liquidity, debt maturities and credit profile

Baa3/Negative

(April 2026)

Liquidity position Debt maturities (USD bn) Credit profile

40%

USD 2.9 bn

60%

3.2

2.3

1.0

0.9

Average maturity of

3.3 years

BB+/Stable

(April 2026)

BBB+/Stable

(March 2026)

Committed credit lines

Cash and cash equivalents

2026 2027 2028 After 2028

31%

13%

12%

AA/Stable

(June 2025)

Maturities / Gross debt

‌Corporate governance structure

29%

BoD's

composition 14%

57%

Shareholders' meeting

Audit firm

Functions:

Audit committee Sustainability committee Related parties' transactions

Executive of the Enel Group Independent

Non-executive elected by Enel SpA



‌Board composition

Board of Directors Board of Directors' diversity

14%

86%

Chairman

Director

Director

Director

Directors' Committee

Director

Directors' Committee

Director

Directors' Committee (C)

Director

Borja Acha Besga

Luca Lo Voi

Roberto Deambrogio

José Antonio Vargas

Gender

diversity

Male Female

Britaldo Soares

Iris Boeninger

Tenure diversity

14%

14%

14%

57%

0-3 years 6-9 years

Nationality diversity

14%

14%

29%

14%

29%

Chilean Italian

Hernán Somerville Senn

9-12 years Over 12 years

Colombian Spanish

Brazilian

Executive of the Enel Group

Non-executive elected by Enel SpA

Independent 29



‌Enel Américas - Policies, principles and codes

Ethics, Integrity, Human Rights, and Diversity

• Ethical code

• Zero Tolerance Plan for Corruption

• Global Compliance Program on Corporate Criminal Liability

• Criminal Risk Prevention Model

• Compliance Program for Free Competition Regulations

• Human Rights Policy

• Diversity Policy

• Privacy and data protection policy

Corporate Governance:

• Corporate Governance practices

• Action protocol in dealing with public officials and public authorities

• Protocol of acceptance and offering of gifts, presents, and favors

• Induction procedure for new Directors

• Procedure for permanent training and continuous improvement of the Board of Directors

• Information procedure for shareholders about the background of candidates for Director

• Habituality policy

• Tax transparency and reporting

• Engagement policy - Investor Relations

• Bylaws

• Manual for the Management of Information of Interest to the Market

  Sustainability:

• Sustainability and Community Relations Policy

• Environmental policy

  30

• Biodiversity policy

‌Q1 2026 Consolidated results

Disclaimer

This presentation contains statements that could constitute forward-looking statements. These statements appear in a number of places in this presentation and include statements regarding the intent, belief or current expectations of Enel Américas and its management with respect to, among other things: (1) Enel Américas' business plans; (2) Enel Américas' cost-reduction plans; (3) trends affecting Enel Américas' financial condition or results of operations, including market trends in the electricity sector in Chile or elsewhere; (4) supervision and regulation of the electricity sector in Chile or elsewhere; and (5) the future effect of any changes in the laws and regulations applicable to Enel Américas or its subsidiaries. Such forward-looking statements reflect only our current expectations, are not guarantees of future performance and involve risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of various factors. These factors include a decline in the equity capital markets, an increase in the market rates of interest, adverse decisions by government regulators in Chile or elsewhere and other factors described in Enel Américas' Annual Report. Readers are cautioned not to place undue reliance on those forward-looking statements, which state only as of their dates. Enel Américas undertakes no obligation to release publicly the result of any revisions to these forward-looking statements, except as required by law.

‌Q1 2026 Consolidated results

Contact us

Contacts

Email - ir.enelamericas@enel.com

Jorge Velis

Head of Investor Relations

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https://www.enelamericas.com

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‌