November 2025
November 22nd, 2024
Enel Américas
Index
- Enel Américas at a glance
- 2025-2027 Strategic Plan
- Q3 2025 Results
Enel Américas at a glance
Enel Américas at a glance
Ownership structure2
10.1%
0.8%
6.8%
Market Cap3 USD 10.7 bn
82.3%
Enel SpA
Institutional investors
Chilean Pension Funds
Retail
Net debt / EBITDA (times)
1.7
0.6
EBITDA (US$ bn)
3.7
3.7
CAPEX (US$ bn)
2.7
2.1
Net Income (US$ bn)
0.9
2.61
2023 2024
RES Capacity (GW)
11.8
12.6
RES capacity (%)
98
98
Grid customers (mn)
22.2
22.6
(1) Includes net gain from disposal of Peruvian assets; (2) As of June 30, 2025; (3) August 20, 2025
Pillars and key business drivers
Grids
Investments tailored to returns, with
advocacy playing a key role
Continued enhancement of grid resiliency
& quality
Leverage digitalization and innovation to
enable the energy transition
Colombia
Guatemala Panama Costa Rica
Generation
Selective capital allocation driven by a weighted risk-reward matrix
Reduce spot price exposure to mitigate volatility
Brazil
Customers
Prioritize products and services that can
accelerate electrification
Deliver quality improvements to improve
customer satisfaction
Argentina
OUR STRATEGIC PILLARS
1
Profitability, flexibility and resilience
2
Efficiency and
effectiveness
3
Financial and environmental sustainability
5
2025-2027 Strategic Plan
Extreme weather events becoming more frequent…
Current environment calls for increasing investments in distribution grids to improve resilience to climate events while enhancing quality, involving all stakeholders in this effort
2023 2024
November - Storm in
Sao Paulo
2.1 mn customers affected
October - Storm in
Sao Paulo
Strongest storm in 30 years
3.1 mn customers affected
November - Storm in
Rio de Janeiro
1.2 mn customers affected
May - Storm in Rio Grande do Sul
>500k people affected
March - Heatwave in
Buenos Aires Extended cuts in supply due to high temperatures
7
…and climate change risk adding higher market volatility…
Spot price volatility vs reservoirs levels
BRL/MWh
800
a
Reservoir level
100%
600
200
80%
60%
40%
20%
0%
Spot price
400
Reservoir level
Price volatility period
0
2021
2022
2023
2024
2025
Brazil1
COP/kWh
3000
2500
2000
1500
1000
500
0
2021
100%
80%
60%
40%
20%
0%
Spot price
Reservoir level
Price volatility period
2022
2023
2024
2025
Colombia2
8
(1) Source: CCEE (Brazil) and XM (Colombia); (2) ONS (Brazil, Southeast) and XM (Colombia).
(a) Implementation of change in spot price calculation methodology
…but LatAm has significant potential for growth in our businesses
Share of electricity in final consumption (%)1
45%
RES share in electricity generation (%)1
Increase in energy consumption is a key driver for Grids' demand
growth…
…with renewables playing a key role to supply this energy and advance the
energy transition
84%
88%
99%
21%
23%
2023 2025 2050 2023 2025 2050
(1) Source: Energy Transition Roadmaps, promoted by Enel Americas and developed by independent consultants with collaboration of stakeholders. 9
Key drivers
Strengthening our focus on Grids as the backbone of our operations, increasing 61%1
35% increase in our investments vs previous plan1…
CAPEX 2025-27
Investments increase
geographies1
across
all
By country By business line
10% 1%
23%
USD 7.5 bn
66%
4%
15%
USD 7.5 bn
82%
Ongoing advocacy on concession renewal focused on improving grids' quality & resilience, maximizing returns
C. America
Selective approach to renewable investments driven by a weighted risk-reward matrix
(1) Argentina's increase vs previous plan is explained by different base assumptions (2025-27 is included for all years). 10