Enel Americas S A : Financial Statements Analysis - Q1 2026

About this update from Enel Americas S.a.

PRESS RELEASE CONSOLIDATED FINANCIAL STATEMENTS ENEL AMÉRICAS GROUP AS OF MARCH 31, 2026 (figures expressed in millions of US$) During the first quarter of 2026, revenues amounted to US$3,924 million, representing a 19.0% increase compared to the same period of the previous year. This growth was mainly driven by higher revenues in Brazil and Colombia, reflecting stronger tariff indexation, increased energy distribution volumes, and the positive impact of the appreciation of the Brazilian real and the Colombian peso, respectively. EBITDA for the first quarter of 2026 amounted to US$1,174 million, representing an increase of 15.6% regarding same period of previous year. This increase was mainly driven by improved performance in the distribution business in Argentina, Brazil, and Colombia, reflecting higher tariff indexation and increased energy distributed. Excluding the positive foreign exchange impact of US$103 million, EBITDA would have increased by 5.0% regarding same period of previous year. EBITDA (in US$ millions) Country Mar 26 Mar 25 Var % Argentina 64 31 107.4% Brazil 587 509 15.3% Colombia 462 414 11.6% Central America 55 56 (1.5%) Enel Américas (*) 1,174 1,015 15.6% (*) Includes Holding, Disposals, and Others Operating income (EBIT) for the first quarter of 2026 amounted to US$766 million, representing a 17.1% increase compared to the first quarter of 2025, driven by higher EBITDA, this effect was partially offset by higher depreciation and amortization during the period. Net income attributable to Enel Américas' shareholders reached US$267 million in the first quarter of 2026, representing an 8.8% increase compared to the US$245 million recorded in the first quarter of 2025. This performance was mainly explained by higher EBITDA and improved financial results; these effects were partially offset by higher income tax expenses. Net financial debt amounted to US$5,635 million, representing a 117.2% increase compared to year-end 2025. This increase was mainly driven by higher indebtedness at subsidiaries in Brazil and lower cash at Enel Américas Holding, resulting from the interim dividend payment charged against 2025 earnings. CAPEX for the first quarter of 2026 totaled US$446 million, representing a 9.8 % increase compared to the first quarter of 2025. This was mainly driven by higher investments in distribution in Argentina, Brazil, and Colombia, partially offset by lower investments in the generation business in Brazil and Colombia. I. Rounding The figures included in this report are expressed in millions of U.S. dollars and have been rounded for presentation purposes. As a result, the sum of the figures contained in the tables may not exactly match the total shown. SUMMARY BY BUSINESS Generation and transmission of continued operations During the first quarter of 2026, EBITDA in the generation and transmission business decreased by 6.2% regarding same period of previous year, reaching US$382 million . This decline was mainly driven by higher energy purchase costs in Brazil and the non-renewal of the concession of the generation assets operated by Enel Generación El Chocón 1 , these effects were partially offset by the appreciation of the Brazilian real and the Colombian peso against U.S. dollar. Physical energy sales from continuing operations decreased by 12.3% in the first quarter of 2026, mainly explained by lower sales in the countries where we operate, related to lower own generation, together with the non-renewal of the concession of the generation assets operated by Enel Generación El Chocón. Accordingly, energy generation in the first quarter of 2026 declined by 13.0% regarding same period of previous year, mainly due to lower generation in the countries where we operate, together with the non-renewal of the concession of the generation assets operated by Enel Generación El Chocón. Physical Information Mar 26 Mar 25 Var % Total Sales (TWh) 14.5 16.5 (12.3%) Total Generation (TWh) 8.8 10.1 (13.0%) Distribution of continued operations In the distribution business, EBITDA increased by 30.3% during the first quarter of 2026 regarding same period of previous year, reaching US$798 million . This increase was mainly driven by improved performance in Argentina, Brazil, and Colombia, reflecting higher tariff indexation and increased energy distributed, and for the appreciation of the Brazilian reais and Colombian peso, in contrast to the depreciation of the Argentine peso against the U.S. dollar. As of March 31, 2026, consolidated number of customers increased by 377 thousand , or 1.7% , compared to same period of previous year, reaching 23.1 million . In addition, physical energy sales increased by 2.1% during the quarter, mainly explained by higher volumes across all concessions where we operate. Physical Information Mar 26 Mar 25 Var % Total Sales (TWh) 28.2 27.6 2.1% Number of customers (thousands) 23,075 22,698 1.7% ‌1 On August 7, 2025, through Decree No. 564/2025, the Argentine State granted Enel Generación El Chocón an extension of the concession term for the El Chocón-Arroyito hydroelectric complex until December 31, 2025, inclusive, or until the completion of a national and international public tender to be carried out for the transfer of the concession to a new operator, whichever occurred first. The Group ultimately operated the El Chocón hydroelectric complex until January 8, 2026. For further information, see note 3.a) to Enel Américas' Consolidated Financial Statements as of March 31, 2026. FINANCIAL SUMMARY The available liquidity has remained in a solid position, as shown below: Cash and cash equivalents US$1,586 million Cash and cash equivalents + placements over 90 days US$1,736 million Committed available credit lines (1) y (2) US$1,157 million The increase in interest rates at Enel Américas (11.4% in Dec-25 vs 12.8% in Mar-26) was mainly due to the increase in the monetary rate in Colombia (IBR) and credit conditions in Brazil. Hedging and Protection: In order to mitigate financial risks associated with foreign exchange and interest rate fluctuations, Enel Américas has established policies and procedures aimed at protecting its financial statements against the volatility of these variables. The Enel Américas Group's foreign exchange risk hedging policy establishes that there should be a balance between the currency in which each company's cash flows are indexed and the currency in which they are indebted. Accordingly, the Enel Américas Group has entered into cross-currency swaps for US$979 million and forward contracts for US$782 million . In order to reduce volatility in the financial statements resulting from changes in interest rates, the Enel Américas Group maintains an appropriate balance in its debt structure. To this end, the Group has entered into interest rate swaps totaling US$1,682 million . (1) Includes a committed credit line between related parties of Enel Américas and Enel Finance International (EFI), fully available, for an amount of US$500 million. MARKETS IN WHICH THE COMPANY OPERATES Enel Américas owns and operates companies in the generation and transmission, and distribution segments in Argentina, Brazil, Colombia, Costa Rica, Guatemala, and Panama. Virtually all revenues and cash flows are generated from the operations of our subsidiaries and associates in these six countries. Generation and Transmission Business Segment As of March 31, 2026, the Enel Américas Group's total installed capacity is 12.3 GW , with 95.9% generated from renewable sources. The Group operates in the generation business through its subsidiaries EGP Cachoeira Dourada, EGP Volta Grande, and Enel Brasil S.A. (the parent company of the EGP entities in Brazil ); Enel Green Power Costa Rica S.A.; Enel Colombia S.A. ESP (the legal successor of Emgesa and which also merged Enel Green Power Colombia S.A.S. ESP in March 2022); Enel Green Power Guatemala S.A.; and Enel Green Power Panamá S.R.L. , and Enel Generación Piura in Peru . Additionally, Enel Generación El Chocón operated the concession of the El Chocón-Arroyito hydroelectric complex until January 8 of the year. The following table summarizes the physical information of the continued operations in the generation segment by geographic area, for the periods ending March 31, 2026, and 2025: Net Energy Sales (TWh)(*) Market Share % Generation Segment by Geographic Area Continued Operations Markets in which it participates Mar 26 Mar 25 Var % Mar 26 Mar 25 Generation Segment Argentina SIN Argentina - 0.5 (100.0%) 0.0% 1.3% Generation Segment Brazil (**) SICN Brazil 8.3 9.7 (14.1%) 5.8% 24.6% Generation Segment Colombia SIN Colombia 5.2 5.3 (1.0%) 24.6% 26.0% Generation Segment Central America (***) 0.8 0.9 (6.6%) 8.7% 9.6% Enel Generación Piura (****) 0.1 0.1 (18.8%) 0.5% 0.7% Total Continued Operations 14.5 16.5 (12.3%) (*) Includes regulated sales, unregulated sales, and the net spot sales position carried out by the generation segments of each country to third parties. All intra-segment energy purchases and sales, as well as transactions between related companies, have been fully eliminated. (**) Within Brazil's energy sales volumes, energy traded by Enel Trading S.A. is included. Although it is not a generation company, it performs the role of intermediary in the purchase and sale of electricity in Brazil. (***) Companies in Costa Rica, Guatemala, and Panama participate in their respective local markets -SEN, SEN, and SIN, respectively- and may also participate, on an occasional basis, in the MER (Regional Electricity Market), which is a regional market encompassing the nine countries of Central America (****) Enel Generación Piura participates in its local SICN market in Peru. It should be noted that, in accordance with the guidelines established in IFRS 8 Operating Segments , it does not represent an operating segment for which Enel Américas is required to disclose separate information. See notes 5 and 34 to Enel Américas' Consolidated Financial Statements as of March 31, 2026. Power Generation (TWh) Generation Segment by Geographic Area Continued Operations Mar 26 Mar 25 Var % Generation Segment Argentina - 0.5 (100.0%) Generation Segment Brazil 4.3 4.8 (11.0%) Generation Segment Colombia 3.7 4.0 (6.3%) Generation Segment Central America 0.7 0.7 (2.2%) Enel Generación Piura 0.1 0.1 (1.3%) Total 8.8 10.1 (13.0%) Distribution Business Segment The distribution business is carried out through the subsidiaries Edesur in Argentina; Enel Distribución Río, Enel Distribución Ceará, and Enel Distribución São Paulo in Brazil; and Enel Colombia S.A. ESP in Colombia. These companies serve the main cities in Latin America, providing electricity service to 23.1 million customers. The following tables present selected key indicators of the distribution segment from continuing operations by geographic area for the accumulated and quarterly periods ended March 31, 2026 and 2025. Energy Sales Energy losses (TWh) % Distribution segment by geographic area of continued operations Mar 26 Mar 25 Var % Argentina Distribution Segment 4.5 4.5 0.4% Brazil Distribution Segment 19.8 19.3 2.5% Colombia Distribution Segment 3.9 3.8 2.2% Total 28.2 27.6 2.1% Mar 26 Mar 25 17.5% 17.7% 14.3% 13.3% 7.7% 7.5% 13.9% 13.2% Customers (thousands) Distribution segment by geographic area of continued operations Mar 26 Mar 25 Var % Argentina Distribution Segment 2,745 2,729 0.6% Brazil Distribution Segment 16,246 15,987 1.6% Colombia Distribution Segment 4,083 3,982 2.5% Total 23,075 22,698 1.7% The following table presents energy sales revenues from continuing operations, broken down by business segment, customer category, and country, on a cumulative and quarterly basis, as of March 31, 2026 and 2025. REVENUES FROM THE SALE OF ENERGY Cumulative Argentina Brazil Colombia Central America Total Segments Disposals and others Total General (in millions of US$) 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 Generación 1 13 433 296 362 396 74 82 870 787 (17) (43) 853 744 Generation 1 - 59 63 220 166 25 40 305 269 3 12 308 281 Regulated Customers - - 267 178 119 141 22 17 408 336 (25) (11) 383 325 Non-Regulated Customers - 13 107 55 23 89 27 25 157 182 5 (44) 162 138 Spot Market Sales - - - - - - - - - - - - - - Distribution 402 393 1,301 1,043 272 275 - - 1,975 1,711 9 9 1,984 1,720 Residential 174 150 842 661 158 158 - - 1,174 969 - - 1,174 969 Commercial 115 100 321 261 67 69 - - 503 430 5 3 508 433 Industrial 78 67 67 64 26 28 - - 171 159 4 3 175 162 Other Consumers 35 76 71 57 21 20 - - 127 153 - 3 127 156 Disposals between companies of different business lines - - (27) (13) 7 (38) - - (20) (51) 20 51 - - Revenue from Energy Sales 403 406 1,707 1,326 641 633 74 82 2,825 2,447 12 17 2,837 2,464 Variation in millions of US$ and % (3) 0.7% 381 28.7% 8 1.3% (8) (9.8%) 378 15.4% (5) - 373 15.1% ANALYSIS OF THE FINANCIAL STATEMENTS INCOME STATEMENT ANALYSIS Net income attributable to the controlling shareholders of Enel Américas for the period ended March 31, 2026 amounted to a profit of US$267 million , compared to a profit of US$245 million recorded as of March 31, 2025, representing an increase of US$22 million . This was mainly explained by higher EBITDA and improved financial results, partially offset by an increase in income tax expenses. Below is a comparative analysis of each item of the consolidated income statement, on a cumulative and quarterly basis, for the periods ended March 31, 2026 and 2025: ESTADOS DE RESULTADOS CONSOLIDADOS OPERACIONES CONTINUADAS (en millones de US$) Mar 26 Mar 252 Variation % Income 3,924 3,297 626 19.0% Income from ordinary activities 3,464 2,973 492 16.5% Other operating income 459 325 135 41.4% Raw Materials and Consumables Used (2,277) (1,869) (408) 21.8% Energy purchases (1,549) (1,252) (297) 23.7% Fuel consumption (6) (13) 6 (48.7%) Transportation costs (343) (305) (38) 12.4% Other Supplies and Services (379) (300) (79) 26.4% Contribution Margin 1,647 1,428 218 15.3% Staff costs (153) (141) (13) 9.1% Other expenses by nature (320) (272) (47) 17.3% Gross Operating Profit (EBITDA) 1,174 1,015 158 15.6% Depreciation and amortization (317) (289) (28) 9.7% Impairment Losses (Reversals) - 9 (9) (100.6%) Impairment Losses (Reversals) from IFRS 9 application (91) (80) (10) 12.9% Operating Profit (EBIT) 766 654 112 17.1% Financial Result (150) (163) 13 (8.2%) Financial income 128 108 20 18.5% Financial expenses (367) (331) (36) 10.8% Results by readjustment units (Argentine Hyperinflation) 71 49 22 44.4% Exchange Difference 18 10 7 70.4% Other non-transaction results - (1) 2 (122.1%) Comp. Results accounted for by the equity method - (2) 2 (113.2%) Profit Before Tax 616 489 127 25.9% Corporate income tax (233) (140) (92) 65.9% Profit after tax 383 349 34 9.8% Result of the Period 383 349 34 9.8% Profit attributable to Enel Américas' owners 267 245 22 8.8% Profit attributable to non-controlling interests 117 104 13 12.3% Earnings Per Share US$ (*) Continued Operations 0.00259 0.00229 0.00030 13.3% Earnings per share US$ (**) 0.00259 0.00229 0.00030 13.3% (*) As of March 31, 2026 and 2025, the average number of ordinary shares outstanding amounted to 102,988,694,000. ‌2 The consolidated income statements of Enel Américas as of March 31, 2026 and 2025 include, on a line-by-line basis, the corresponding amounts from Enel Generación Piura. This implies that the statement of comprehensive income for the period ended the first quarter of 2025 has been restated, as until that date the results of Enel Generación Piura were presented as arising from discontinued operations, a treatment that ceased to apply as of the second quarter of 2025. For further information, see note 3.a) to Enel Américas' Consolidated Financial Statements as of March 31, 2026. EBITDA EBITDA from continuing operations for the period ended March 31, 2026 amounted to US$1,174 million , representing an increase of US$158 million , equivalent to 15.6% , regarding same period of previous year, compared to US$1,015 million of same period of 2025. This increase was mainly driven by improved results in the distribution business in Argentina, Brazil, and Colombia, related to stronger tariff indexation, higher energy distributed, and the appreciation of the Brazilian real and the Colombian peso, against Operating revenues, operating costs, personnel expenses, and other expenses by nature from continuing operations that determine our EBITDA , broken down by each business segment, are presented below on a cumulative and quarterly basis, as of March 31, 2026 and 2025: EBITDA BY BUSINESS SEGMENT / COUNTRY CONTINUED OPERATIONS (in US$ million) Mar 26 Mar 25 Variation Var % Generation and Transmission: Argentina 2 13 (11) (86.6%) Brazil 446 295 151 51.2% Colombia 383 411 (28) (6.8%) Central America 76 83 (7) (8.6%) Operating Income Generation and Transmission Segment 907 802 105 13.1% Distribution: Argentina 419 410 9 2.2% Brazil 2,018 1,577 441 28.0% Colombia 629 540 89 16.4% Operating Income Distribution Segment 3,067 2,528 539 21.3% Consolidation adjustments and other business activities (50) (33) (18) (54.0%) Total Consolidated Operating Income Enel Américas 3,924 3,297 626 19.0% Generation and Transmission: Argentina - (1) 1 86.8% Brazil (301) (136) (165) (121.2%) Colombia (130) (176) 46 26.2% Central America (13) (20) 7 34.0% Operating Costs: Generation and Transmission Segment (444) (333) (111) (33.4%) Distribution: Argentina (265) (276) 11 3.9% Brazil (1,299) (1,012) (287) (28.4%) Colombia (334) (301) (33) (10.9%) Operating Costs Distribution Segment (1,898) (1,589) (310) (19.5%) Consolidation adjustments and other business activities 66 53 13 24.7% Total Consolidated Operating Costs Enel Américas (2,277) (1,869) (408) (21.8%) EBITDA BY BUSINESS SEGMENT / COUNTRY CONTINUED OPERATIONS (in US$ million) Mar 26 Mar 25 Variation Var % Generation and Transmission: Argentina (1) (1) - 13.1% Brazil (5) (4) (1) 15.5% Colombia (15) (12) (3) 25.8% Central America (3) (3) - (5.4%) Staff Costs Generation and Transmission Segment (24) (20) (4) 18.2% Distribution: Argentina (40) (46) 6 (13.0%) Brazil (68) (52) (16) 30.3% Colombia (10) (10) - 4.2% Staff Costs Distribution Segment (118) (108) (10) 9.5% Consolidation adjustments and other business activities (11) (12) 1 (9.7%) Total Consolidated Staff Costs Enel Américas (153) (141) (13) 9.1% Generation and Transmission: Argentina (1) (2) 1 (60.5%) Brazil (30) (25) (6) 22.4% Colombia (20) (10) (10) 96.5% Central America (5) (4) (1) 16.3% Other Expenses by Nature Generation and Transmission Segment (56) (41) (15) 36.8% Distribution: Argentina (49) (65) 16 (24.7%) Brazil (162) (123) (38) 31.3% Colombia (41) (29) (11) 38.2% Other Expenses by Nature Distribution Segment (251) (218) (34) 15.4% Consolidation adjustments and other business activities (12) (13) 2 (11.2%) Total Other Expenses by Nature Consolidated Enel Américas (320) (272) (47) 17.3% Generation and Transmission: Argentina - 9 (9) (104.8%) Brazil 110 130 (20) (15.6%) Colombia 218 213 5 2.4% Central America 55 56 (1) (1.6%) EBITDA Generation & Transmission Segment 382 407 (25) (6.2%) Distribution: Argentina 65 22 42 187.4% Brazil 489 390 99 25.4% Colombia 245 200 44 22.2% EBITDA Distribution Segment 798 613 186 30.3% Consolidation adjustments and other business activities (7) (5) (2) 37.5% Total Consolidated EBITDA Enel Américas 1,174 1,015 158 15.6% GENERATION AND TRANSMISSION SEGMENT EBITDA Argentina: EBITDA ARGENTINE GENERATION SEGMENT (in millions of US$) Mar 26 Mar 25 Variation Var % Operating income 2 13 (11) (86.6%) Operating costs - (1) 1 (86.8%) Staff costs (1) (1) 13.1% Other expenses by nature (1) (2) 1 (60.5%) Total Generation Segment Argentina - 9 (9) (104.8%) - EBITDA for our generation segment in Argentina amounted to US$0 million as of March 31, 2026, representing a decrease of US$9 million regarding same period of 2025, which is mainly explained by Enel Generación El Chocón ceasing to operate the concession of the El Chocón-Arroyito hydroelectric complex as of January 9 of the current year. Brazil: EBITDA GENERATION SEGMENT BRAZIL (in millions of US$) Mar 26 Mar 25 Variation Var % Operating income 446 295 151 51.2% Operating costs (301) (136) (165) (121.2%) Staff costs (5) (4) (1) (15.5%) Other expenses by nature (30) (25) (6) (22.4%) Total Generation Brazil Segment 110 130 (20) (15.6%) EBITDA for our generation and transmission segment in Brazil amounted to US$110 million as of March 31, 2026, representing a decrease of US$20 million regarding same period of previous year. The main factors explaining this decrease in the items that make up EBITDA are described below: Operating revenues increased by US$151 million , equivalent to 51.2% , in the period ended March 31, 2026 compared to 2025. This increase was mainly explained by: (i) US$90 million from higher physical energy sales volumes, mainly traded by Enel Trading and EGP companies in Brazil, as a result of the entry into operation of new generation units; from the positive effect of currency translation due to the appreciation of the Brazilian real against the U.S. dollar; and (iii) US$16 million from higher average sales prices. Operating costs increased by US$165 million , or 121.2% , regarding same period of previous year. This increase was mainly explained by: (i) US$133 million in higher energy purchase costs, mainly due to higher volumes; and (ii) US$29 million from a negative currency translation effect resulting from the appreciation of the Brazilian real against the U.S. dollar. Personnel expenses remained broadly in line with those recorded in 2025. Other expenses by nature increased by US$6 million , mainly due to the negative effect of currency translation resulting from the appreciation of the Brazilian real against the U.S. dollar. Colombia: EBITDA GENERATION SEGMENT COLOMBIA (in millions of US$) Mar 26 Mar 25 Variation Var % Operating income 383 411 (28) (6.8%) Operating costs (130) (176) 46 26.2% Staff costs (15) (12) (3) (25.8%) Other expenses by nature (20) (10) (10) (96.5%) Total Generation Segment Colombia 218 213 5 2.4% EBITDA for our generation segment in Colombia amounted to US$218 million during the period ended March 31, 2026, representing an increase of US$5 million regarding same period of previous year. The main factors explaining this increase in the items that make up EBITDA are described below: Operating revenues of Enel Colombia Generation decreased by US$28 million in the period ended March 31, 2026, or 6.8% regarding same period of previous year. This decrease was mainly explained by: (i) US$65 million from lower physical energy sales (-0.1 TWh) during 2026; and (ii) US$7 million from lower insurance claim indemnities. This was partially offset by a positive currency translation effect of US$45 million , related to the appreciation of the Colombian peso against the U.S. dollar . Operating costs decreased by US$46 million , equivalent to 26.2% , mainly explained by: (i) US$53 million from lower volumes of purchased energy; and (ii) US$6 million from lower fuel-based generation costs. This was partially offset by: (i) a negative currency translation effect of US$15 million resulting from the appreciation of the Colombian peso against the U.S. dollar; and (ii) US$3 million from lower transportation costs. Personnel expenses increased by US$3 million , mainly due to higher salary cost adjustments. Other expenses by nature increased by US$10 million , mainly explained by: (i) US$9 million from higher costs related to the entry into force of the wealth tax in 2026; and (ii) US$3 million from the negative effect of currency translation resulting from the appreciation of the Colombian peso against the U.S. dollar. Central America: EBITDA GENERATION SEGMENT CENTRAL AMERICA (in millions of US$) Mar 26 Mar 25 Variation Var % Operating income 76 83 (7) (8.6%) Operating costs (13) (20) 7 34.0% Staff costs (3) (3) 5.4% Other expenses by nature (5) (4) (1) (16.3%) Total Generation Segment Central America 55 56 (1) (1.6%) - EBITDA for our generation segment in Central America amounted to US$55 million during the period ended March 31, 2026, representing a decrease of US$1 million regarding same period of previous year. The main factors explaining this decrease in the items that make up EBITDA are described below: Operating revenues decreased by US$7 million , mainly due to lower sales volumes compared to 2025. Operating costs decreased by US$7 million , mainly explained by lower energy purchase costs in Panama, as a result of improved hydrological conditions compared to the 2025 period. Personnel expenses remained in line with those recorded in the same period of 2025. Other expenses by nature also remained in line with those recorded in the same period of 2025. DISTRIBUTION SEGMENT EBITDA Argentina: EBITDA DISTRIBUTION SEGMENT ARGENTINA (in millions of US$) Mar 26 Mar 25 Variation Var % Operating income 419 410 9 2.2% Operating costs (265) (276) 11 (3.9%) Staff costs (40) (46) 6 (13.0%) Other expenses by nature (49) (65) 16 (24.7%) Total Distribution Segment Argentina 65 22 42 187.4% EBITDA for our distribution segment in Argentina amounted to US$65 million during the period ended March 31, 2026, representing an increase of US$42 million regarding same period of previous year. The main factors explaining this variation in the items that make up EBITDA are described below: Operating revenues increased by US$9 million , or 2.2% , regarding the 2025 period. This increase was mainly driven by higher revenues resulting from: (i) US$102 million from various tariff adjustments approved by the Argentine regulatory authority; US$18 million from the implementation of an electricity supply agreement in low-income neighborhoods in the Province of Buenos Aires; and (iii) US$2 million from higher physical energy sales compared to 2025. This was partially offset by a negative currency translation effect of US$113 million resulting from the depreciation of the Argentine peso against the U.S. dollar. Operating costs decreased by US$11 million , mainly explained by: (i) a positive currency translation effect of US$76 million resulting from the depreciation of the Argentine peso against the U.S. dollar; and (ii) US$9 million from lower costs related to lower physical energy purchase volumes. This was partially offset by: (i) US$63 million in higher energy purchase costs, mainly due to higher purchase prices; (ii) US$10 million in higher transportation costs; and (iii) US$2 million from increases in other supplies and variable services associated with inflationary pressures. Personnel expenses decreased by US$6 million regarding the 2025 period, mainly driven by: (i) a positive currency translation effect of US$12 million resulting from the depreciation of the Argentine peso against the U.S. dollar; and (ii) US$4 million in lower personnel expenses due to increased capitalization of labor costs into investment assets. This was partially offset by US$9 million in higher salary expenses due to inflationary adjustments and overtime. Other expenses by nature decreased by US$16 million regarding the 2025 period, mainly explained by a positive currency translation effect of US$14 million resulting from the depreciation of the Argentine peso against the U.S. dollar. Energy loss (%) Number of Customers (in millions) SUBSIDIARY Mar 26 Mar 25 Var p.p. Edesur 17.5% 17.7% (0.1) Total Distribution Segment Argentina 17.5% 17.7% (0.1) Mar 26 Mar 25 Var 2.75 2.73 0.6% 2.75 2.73 0.6% Brazil: EBITDA DISTRIBUTION SEGMENT BRAZIL (in millions of US$) Mar 26 Mar 25 Variation Var % Operating income 2,018 1,577 441 28.0% Operating costs (1,299) (1,012) (287) 28.4% Staff costs (68) (52) (16) 30.3% Other expenses by nature (162) (123) (38) 31.3% Total Distribution Segment Brazil 489 390 99 25.4% EBITDA for our distribution segment in Brazil amounted to US$489 million during the period ended March 31, 2026, representing an increase of US$99 million regarding same period of previous year. The main factors explaining this variation in the items that make up EBITDA are described below: Operating revenues in the distribution segment in Brazil increased by US$441 million , equivalent to 28.0% , regarding revenues recorded at same period of 2025. This increase was mainly explained by: (i) US$204 million from a positive currency translation effect resulting from the appreciation of the Brazilian real against the U.S. dollar; (ii) US$166 million from higher assets and liabilities adjustments; (iii) US$120 million from an increase in construction revenues due to the application of IFRIC 12; (iv) US$52 million from higher revenues due to higher average sales prices resulting from tariff adjustments linked to inflation in Brazil; and (v) US$14 million from higher revenues related to the update of financial assets recognized in accordance with IFRIC 12; and (vi) US$1 million from higher revenues from fines and penalties related to service quality. This was partially offset by: (i) US$92 million from lower revenues related to sector charges; and (ii) US$23 million from lower revenues due to physical energy sales volumes. Operating costs increased by US$287 million, or 28.4% , regarding same period of previous year, mainly explained by: (i) a negative currency translation effect of US$131 million resulting from the appreciation of the Brazilian real against the U.S. dollar; (ii) US$120 million from higher construction costs due to the application of IFRIC 12; and, (iii) US$44 million from higher energy purchase costs related to increased purchase volumes and higher spot prices resulting from deteriorated hydrological conditions in Brazil; (iv) US$7 million from lower costs related to the shared use of utility poles; and (v) US$1 million from higher energy purchases to meet demand due to increased physical sales. This was partially offset by: (i) US$9 million from lower costs related to power outages and reconnections; and (ii) US$7 million from higher energy transportation costs. Personnel expenses increased by US$16 million regarding the 2025 period, mainly driven by: (i) a negative currency translation effect of US$9 million resulting from the appreciation of the Brazilian real against the U.S. dollar; and (ii) US$8 million from higher employee compensation, mainly due to increased headcount. This was partially offset by US$1 million from lower personnel-related insurance costs. Other expenses by nature increased by US$38 million regarding the 2025 period, mainly explained by: (i) US$16 million from the negative currency translation effect resulting from the appreciation of the Brazilian real against the U.S. dollar; (ii) US$13 million from higher outsourced services costs; and (iii) US$10 million from higher maintenance and repair costs at Enel Distribución São Paulo. Energy loss (%) Number of Customers (in millions) SUBSIDIARY Mar 26 Mar 25 Var p.p. Enel Distribución Rio 20.7% 20.6% 0.1 Enel Distribución Ceará 17.8% 14.6% 3.2 Enel Distribución Sao Paulo 11.0% 10.4% 0.6 Total Distribution Segment Brazil 14.3% 13.3% 1.1 Mar 26 Mar 25 Var 3.1 3.1 (0.6%) 4.4 4.3 1.8% 8.8 8.6 2.3% 16.2 16.0 1.6% Colombia: EBITDA DISTRIBUTION SEGMENT COLOMBIA (in millions of US$) Mar 26 Mar 25 Variation Var % Operating income 629 540 89 16.4% Operating costs (334) (301) (33) 10.9% Staff costs (10) (10) 4.2% Other expenses by nature (41) (29) (11) 38.2% Total Distribution Segment Colombia 245 200 44 22.2% - EBITDA for our distribution segment in Colombia amounted to US$245 million during 2026, representing an increase of US$44 million regarding same period of previous year. The main factors explaining this increase in the items that make up EBITDA are described below: Operating revenues increased by US$89 million , equivalent to a 16.4% increase, mainly explained by: (i) US$74 million from a positive currency translation effect resulting from the appreciation of the Colombian peso against the U.S. dollar; (ii) US$12 million from higher revenues due to increased physical energy sales volumes (+0.1 TWh) ; and (iii) US$3 million from higher revenues from tolls charged to non-regulated customers. Operating costs increased by US$33 million , or 10.9% , mainly explained by a negative currency translation effect of US$39 million resulting from the appreciation of the Colombian peso against the U.S. dollar, effect which was partially offset by US$7 million from lower costs due to a decrease in average energy purchase prices. Personnel expenses remained in line with those recorded in the same period of 2025. Other expenses by nature increased by US$11 million , mainly explained by: (i) US$7 million from higher costs resulting from the entry into force of the wealth tax in 2026; and (ii) US$5 million from the positive currency translation effect resulting from the appreciation of the Colombian peso against the U.S. dollar. Energy Loss (%) Number of Customers (in millions) Mar 26 Mar 25 Var p.p. Distribution Segment Colombia 7.7% 7.5% 0.2 Total Distribution Segment Colombia 7.7% 7.5% 0.2 Mar 26 Mar 25 Var 4.08 3.98 2.5% 4.08 3.98 2.5% Depreciation, Amortization, and Impairment Below is a summary, by business segment and country, of EBITDA, Depreciation, Amortization and Impairment Expenses, and EBIT for Enel Américas Group subsidiaries from continuing operations, on a cumulative and quarterly basis, as of March 31, 2026 and 2025. (in millions of US$) BUSINESS SEGMENT Mar 26 Mar 25 EBITDA Depreciation, Amortization, and Impairment EBIT EBITDA Depreciation, Amortization, and Impairment EBIT Generation and Transmission: Argentina - - - 9 - 9 Brazil 110 (55) 55 130 (52) 78 Colombia 218 (28) 190 213 (14) 198 Central America 55 (14) 41 56 (12) 43 Total Generation and Transmission Segment 382 (96) 286 407 (79) 329 Distribution: Argentina 65 (67) (3) 22 (58) (36) Brazil 489 (188) 301 390 (177) 213 Colombia 245 (45) 200 200 (37) 163 Total Distribution Segment 798 (300) 499 613 (272) 340 Less: Consolidation adjustments and other business activities (7) (12) (19) (5) (10) (15) Total Consolidated Enel Américas 1,174 (408) 766 1,015 (361) 654 Depreciation, amortization and impairment from continuing operations amounted to US$408 million for the period ended March 31, 2026, increasing by US$47 million compared to the 2025 period. Depreciation and amortization amounted to US$317 million as of March 31, 2026, representing an increase of US$28 million compared to 2025. This increase was mainly explained by: (i) US$16 million increase in depreciation in distribution companies, mainly driven by: (a) US$7 million in Colombia due to higher investments; (b) US$5 million in Argentina; and (c) US$5 million in Brazil; (ii) US$7 million of higher depreciation in generation companies in Colombia and Central America; and (iii) US$5 million of additional depreciation resulting from the start-up of new renewable generation projects in Brazil. Impairment losses amounted to US$91 million as of March 31, 2026, representing an increase of US$19 million compared to 2025. This increase was mainly explained by: (i) US$10 million from higher recognition of impairment losses on financial assets, composed of: (a) US$13 million increase resulting from the application of IFRS 9 due to a deterioration in the assessment of expected credit losses, mainly in Enel Distribución São Paulo and Edesur; and (b) a US$2 million decrease due to lower impairment losses on financial assets in Enel X Brazil, reflecting improved recovery prospects for its accounts receivable; and (ii) US$9 million from higher impairment losses on long-lived generation assets at Enel Colombia , mainly related to positive adjustment in the impairment related to Windpeshi renewable project recognized in 2025 . Non-Operating Result NON-OPERATING RESULTS (in millions of US$) Mar 26 Mar 25 Variation Var % Financial Income: Argentina 5 4 1 24.2% Brazil 104 74 30 41.1% Colombia 9 7 2 23.7% Central America 2 1 35.4% Consolidation adjustments and other business activities 8 22 (13) (61.7%) Total Financial Income 128 108 20 18.5% Financial Expenses: Argentina (53) (71) 18 (25.9%) Brazil (224) (179) (45) 25.4% Colombia (78) (69) (9) 12.6% Central America (3) (3) (8.4%) Consolidation adjustments and other business activities (9) (9) 3.0% Total Financial Expenses (367) (331) (36) 10.8% Exchange differences: Argentina (1) - (1) n.a. Brazil 16 7 10 150.1% Colombia (1) 3 (4) (127.0%) Central America 3 - 3 n.a. Consolidation adjustments and other business activities - 1 (1) (72.7%) Total Exchange Differences 18 10 7 70.4% Total Results by Readjustment Units (Argentine hyperinflation) 71 49 22 44.4% Total Financial Result Enel Américas (150) (163) 13 (8.2%) Total Other Non-Operating Results - (1) 2 (105.0%) Profit Before Tax 616 489 126 25.8% Taxes: Argentina (16) 27 (43) (159.4%) Brazil (86) (37) (49) 133.9% Colombia (114) (100) (14) 13.5% Central America (16) (12) (4) 31.6% Consolidation adjustments and other business activities (1) (18) 17 (96.0%) Total Corporate Income Tax (233) (140) (92) 65.9% Profit after tax 383 349 34 9.8% Result of the Period 383 349 34 9.8% Profit attributable to Enel Américas owners 267 245 22 8.8% Profit attributable to non-controlling interests 117 104 13 12.3% The following table presents the consolidated non-operating results for the periods ending March 31, 2026, and 2025: - - - Financial Result Financial results amounted to a loss of US$150 million for the period ended March 31, 2026, representing a lower loss of US$13 million regarding same period of previous year. The composition of this result is detailed below. Higher financial income of US$20 million , mainly explained by US$38 million from higher updates of regulatory assets and liabilities in Brazil, due to higher inflation recorded in the country compared to 2025; and (ii) US$5 million in higher financial income due to increased interest collections from customers. This was partially offset by: (i) US$10 million in lower income from updates of cash and cash equivalents, mainly in Brazil and Colombia; (ii) US$8 million in lower income from updates of leases and accounts receivable; and (iii) US$3 million in lower income from derivative operations in distribution companies in Brazil. Higher financial expenses of US$36 million , mainly explained by: (i) US$59 million in higher financial expenses from bank loans, mainly resulting from increased debt compared to 2025 in Enel Colombia and Brazil; (ii) US$10 million from higher expenses related to updates of regulatory assets and liabilities in Brazil; (iii) US$8 million from higher updates of PIS/COFINS tax credits; (iv) US$8 million from higher expenses incurred on public obligations related to bonds outstanding in Brazil; (v) US$3 million from higher expenses related to the update of provisions; and (vi) US$2 million from higher expenses related to lease updates. This was partially offset by: (i) US$32 million in lower interest associated with payables to CAMMESA in Argentina; (ii) US$15 million in lower effects related to post-employment benefit obligations; (iii) US$6 million in lower capitalization of financial expenses in projects; and (iv) US$4 million in lower expenses incurred from transactions with related companies outside the consolidation perimeter. Inflation adjustment results increased by US$22 million and correspond to financial results generated from the application of IAS 29 Financial Reporting in Hyperinflationary Economies in Argentina. These results reflect the net balance arising from applying inflation adjustments to non-monetary assets and liabilities and to income statement items not determined on an updated basis, converted into U.S. dollars at the closing exchange rate. Foreign exchange differences recorded higher income of US$7 million compared to 2025, mainly due to US$22 million from higher foreign exchange gains from the remeasurement of trade accounts receivable and payable with related companies outside the consolidation perimeter. This was partially offset by US$17 million from lower foreign exchange gains on derivative instruments. Corporate Income Tax Corporate income tax expense amounted to US$233 million for the period ended March 31, 2026, representing an increase in tax expense of US$92 million regarding same period of previous year. This variation was mainly explained by: (i) US$45 million in higher taxes at Edesur , mainly explained by: (A) US$49 million in higher taxes due to from higher taxes due to higher results and the recognition of hyperinflation effects; and (B) a negative currency translation effect of US$4 million resulting from the depreciation of the Argentine peso against the U.S. dollar; (ii) US$26 million in higher taxes due to improved results in Brazil; and (iii) US$17 million in higher taxes resulting from increased results in Colombian companies. ANALYSIS OF THE FINANCIAL POSITION ASSETS (in millions of US$) Mar 26 Mar 25 Variation Var % Current Assets 7,119 6,696 423 6.3% Non-current Assets 29,738 28,175 1,563 5.5% Total Assets 36,857 34,871 1,986 5.7% Total assets of Enel Américas as of March 31, 2026 increased by US$1,986 million compared to total assets as of December 31, 2025, mainly as a result of the following factors: Current assets increased by US$423 million , equivalent to 6.3% , mainly explained by the following factors: The decrease in cash and cash equivalents of US$319 million , mainly composed of: Net operating cash inflows of US$209 million , corresponding to collections from sales and the provision of services, net of payments to suppliers and other disbursements. Net cash outflows from investing activities of US$594 million , corresponding to cash outflows related to: (i) investments with maturities greater than 90 days for US$583 million ; (ii) additions to property, plant and equipment for US$311 million ; (iii) payments for the acquisition of intangible assets for US$283 million ; and (iv) US$25 million in payments related to derivative instruments. These cash outflows from investing activities were partially offset by: (i) proceeds from the redemption of investments with maturities greater than 90 days for US$575 million; (ii) US$24 million from recoveries of loans to related companies and their related interest; and (iii) US$9 million from proceeds related to derivative instruments; US$613 million from financing obtained from financial institutions, public debt, and other sources, of which US$94 million correspond to short-term maturities and the remaining US$519 million to long-term maturities; and (ii) US$3 million from other financing inflows. These cash and cash equivalent inflows from financing activities were partially offset by cash outflows related to: (i) US$339 million in repayments of bank loans and public debt; (ii) US$128 million in interest payments on bank obligations, public debt, loans from related companies, and derivative operations; (iii) US$98 million in dividends paid; and (iv) US$24 million in payments related to finance leases. An increase of US$40 million due to the effect of changes in exchange rates on cash and cash equivalents. Increase in other current financial assets o f US$94 million , mainly explained by financial instruments measured at fair value through profit or loss, at amortized cost, and derivative instruments, including: Enel Brasil for US$44 million, Enel Américas for US$24 million , Enel Distribución São Paulo for US$10 million , and Edesur for US$10 million. Increase in other current non-financial assets of US$52 million , mainly explained by: (i) a US$47 million increase in other current non-financial assets; (ii) US$22 million in higher prepaid expenses; (iii) US$14 million from higher prepaid expenses related to energy efficiency in Brazil; and (iv) US$4 million in higher PIS/COFINS taxes in Brazilian distribution companies. The above was partially offset by a US$34 million decrease in value added tax obligations. Increase in trade receivables and other current accounts receivable of US$543 million , mainly explained by: (i) US$349 million from higher volumes and average selling prices in Brazilian distribution companies; (ii) US$183 million from a positive currency translation effect resulting from the appreciation of the Brazilian real and the Colombian peso against the U.S. dollar compared to the prior period; and (iii) US$12 million from higher accounts receivable due to increased volumes and average selling prices at Edesur. Increase in inventories of US$66 million , mainly due to a positive currency translation effect in Brazilian distribution companies as a result of the appreciation of the Brazilian real against the U.S. dollar compared to 2025. Decrease in current income taxes of US$15 million , mainly explained by a US$22 million lower income tax provision in Colombia. This was partially offset by US$8 million from a higher income tax provision at Enel Generación Piura . Increase in non-current assets of US$1,563 million , equivalent to 5.5% , mainly explained by the following factors: Increase in other non-current financial assets of US$573 million , mainly explained by: (i) US$312 million resulting from a positive currency translation effect due to the appreciation of the Brazilian real against the U.S. dollar compared to 2025; (ii) US$254 million from higher financial assets generated by the application of IFRIC 12 to new investments in Brazilian distribution companies; and (iii) US$9 million from higher financial assets related to investments in companies in Argentina. Increase in other non-current non-financial assets of US$136 million , mainly explained by: (i) US$63 million from higher construction-in-progress assets generated by the application of IFRIC 12 to new investments in Brazilian distribution companies; (ii) US$28 million from higher value-added tax receivables; (iii) US$21 million from higher recoverable PIS and COFINS taxes; (iv) US$20 million from higher judicial deposits; and (v) US$3 million from higher miscellaneous items. Decrease in non-current receivable s of US$90 million , mainly related to accruals and increased transfers of trade receivables to the short term, mainly explained by: (i) US$46 million from Brazilian distribution companies Enel Distribución São Paulo and Enel Distribución Ceará ; (ii) US$31 million from Enel X Brazil; (iii) US$24 million from Enel Colombia; and (iv) US$7 million from Enel Generación El Chocón . This decrease was partially offset by a US$17 million increase at Enel Distribución Rio . Increase in intangible assets other than goodwill of US$79 million , mainly composed of: (i) US$70 million increase from the recognition of new intangible assets, mainly in the distribution business in Brazil; (ii) US$135 million increase related to currency translation effects from the various functional currencies in which the Group operates; (iii) US$138 million decrease due to amortization for the period; and, (iv) US$11 million increase resulting from inflation adjustments due to the application of IAS 29 for Argentine subsidiaries. Increase in goodwill of US$58 million , mainly explained by currency translation effects into U.S. dollars from the functional currencies of each subsidiary. Increase in property, plant and equipment of US$777 million , mainly composed of: (i) US$158 million increase from the recognition of new additions, mainly in the generation business in Brazil and Colombia, as well as distribution lines at Edesur; (ii) US$570 million increase related to currency translation effects; (iii) US$160 million decrease due to depreciation for the period; (iv) US$214 million increase resulting from inflation adjustments due to the application of IAS 29 for Argentine subsidiaries. Increase in right-of-use assets of US$4 million , mainly composed of: (i) a US$5 million increase from the recognition of new lease contracts, mainly in the generation business in Brazil and Colombia; (ii) a US$16 million increase related to currency translation effects ; (iii) a US$19 million decrease due to depreciation for the period; and (iv) a US$2 million increase resulting from inflation adjustments due to the application of IAS 29 for Argentine subsidiaries. Increase in right-of-use assets of US$4 million, mainly composed of: (i) a US$5 million increase from the recognition of new contracts, mainly in the generation business in Brazil and Colombia; (ii) a US$16 million increase related to currency translation effects; and (iii) a US$19 million decrease due to depreciation for the period. Increase in deferred tax assets of US$24 million , mainly explained by a positive currency translation effect in Brazilian companies resulting from the appreciation of the Brazilian real against the U.S. dollar. LIABILITIES AND EQUITY (in millions of US$) Mar 26 Mar 25 Variation Var % Current Liabilities 8,205 7,738 467 6.0% Non-Current Liabilities 8,782 8,557 225 2.6% Total Equity 19,870 18,576 1,294 7.0% Attributable to the owners of the parent company 17,123 16,023 1,100 6.9% Non-controlling interests 2,747 2,553 194 7.6% Total Equity and Liabilities 36,857 34,871 1,986 5.7% Total liabilities and equity of Enel Américas as of March 31, 2026 increased by US$1,986 million compared to December 31, 2025, mainly as a result of the following factors: Current liabilities increased by US$467 million , equivalent to 6.0%, mainly explained by: Increase in other current financial liabilities of US$421 million , mainly driven by bank borrowings and public debt issuances, as well as transfers from non-current liabilities, highlighting: Enel Distribución São Paulo for US$115 million , Enel Distribución Ceará for US$91 million, Edesur for US$90 million, Enel Distribución Rio for US$82 million, Enel Colombia for US$26 million, Enel Américas for US$18 million, and EGP Volta Grande for US$2 million . Decrease in current lease liabilities of US$4 million , mainly explained by currency translation effects into U.S. dollars from the functional currencies of the related subsidiaries. Increase in trade payables and other current accounts payable of US$109 million , mainly explained by: (i) US$165 million in higher regulatory liabilities at Brazilian distribution companies; (ii) US$49 million increase in service related payables; (iii) US$47 million increase in other miscellaneous payables; (iv) US$29 million increase in payables to CAMMESA; (v) US$23 million increase in payables related to market settlement compensations in Brazil; (vi) US$19 million increase in dividends payable to third parties; and (vii) US$12 million increase in employee-related payables. The above was partially offset by: (i) US$67 million decrease in prepayments related to research and development; (ii) US$59 million decrease in payables related to low-income subsidies; (iii) US$57 million decrease in liabilities related to energy purchases; (iv) US$41 million decrease in PIS/COFINS payables in Brazilian distribution companies; and (v) US$16 million decrease in payables related to distributed generation in Brazil. Decrease in current payables to related entities of US$65 million , mainly due to a US$82 million decrease in dividends payable to the parent company ENEL S.p.A. effect which was partially offset by: (i) US$16 million increase in payables to related parties of the parent company providing technical and IT services to subsidiaries; and (ii) US$1 million increase in payables to EFI due to interest accrued during the period. Increase in other current provisions of US$21 million , mainly explained by: (i) US$21 million increase in miscellaneous provisions; and (ii) US$3 million increase in provisions related to environmental obligations at subsidiary Enel Colombia S.A. This was partially offset by a US$3 million decrease in provisions for legal claims. Increase in current tax liabilities of US$11 million , mainly explained by a US$31 million increase in tax provisions at Edesur , partially offset by a US$20 million decrease in tax provisions in Brazil. Decrease in other current non-financial liabilities of US$26 million , mainly resulting from: (i) US$25 million decrease in deferred revenues from sales; and (ii) US$1 million decrease in value-added tax payable (output VAT). Non-current liabilities increased by US$225 million , equivalent to 2.6% , mainly explained by the following factors: Increase in other non-current financial liabilities (financial debt and derivatives) of US$192 million , mainly explained by: (i) a positive currency translation effect of US$96 million in Brazilian subsidiaries due to the appreciation of the Brazilian real against the U.S. dollar during 2026; (ii) a positive currency translation effect of US$90 million in Colombian subsidiaries due to the appreciation of the Colombian peso against the U.S. dollar compared to 2025; and (iii) US$67 million from new debt obtained in Brazil. The above was partially offset by transfers of bank borrowings and public debt to current liabilities amounting to US$62 million . Increase in non-current lease liabilities of US$11 million , mainly explained by currency translation effects into U.S. dollars from the functional currencies of each subsidiary. Increase in non-current trade payables and other accounts payable of US$14 million , mainly explained by: (i) US$39 million increase in PIS/COFINS credits payable in Brazil on behalf of third parties resulting from lower regulatory liabilities at Brazilian distribution companies; (ii) US$18 million related to an increase resulting from the renegotiation carried out by Edesur with CAMMESA in Argentina; (iii) US$5 million increase in service-related payables; (iv) US$3 million increase in payables related to market settlement compensations in Brazil; (v) US$2 million increase in contingencies with the Special Administrative Unit for Public Services (UAESP), granted through Resolution No. 463 of 2025 in Colombia; and (vi) US$26 million increase in other miscellaneous payables. This was partially offset by: (i) US$35 million decrease in regulatory liabilities in Brazilian distribution companies; and (ii) US$44 million decrease in payables related to research and development, mainly in Brazil. Increase in other non-current provisions of US$32 million , mainly explained by: (i) US$20 million increase in provisions for legal claims; (ii) US$12 million increase in provisions related to environmental matters; and (iii) US$3 million increase in tax-related provisions. This was partially offset by: (i) US$2 million decrease in other miscellaneous provisions; and (ii) US$1 million decrease in provisions related to future dismantling obligations. Increase in deferred tax liabilities of US$76 million , mainly related to the net increase in deferred taxes resulting from hyperinflation adjustments at Argentine subsidiary Edesur . Decrease in other non-current non-financial liabilities of US$100 million , mainly related to lower deferred revenues from energy sales agreements at Enel Trading Brazil and Enel Colombia . Total equity increased by US$1,294 million , mainly explained by: Equity attributable to owners of the parent company increased by US$1,100 million , mainly due to: (i) US$267 million i ncrease from profit for the period; (ii) US$5 million increase related to defined benefit employee plans recognized during the period; and (iii) US$827 million increase in other reserves, mainly explained by: (a) US$730 million in higher positive foreign currency translation differences; (b) US$2 million increase in other reserves related to cash flow hedge reserves and the valuation of financial instruments recognized in equity; and (c) US$95 million increase in positive reserves resulting from the application of IAS 29 Financial Reporting in Hyperinflationary Economies in Argentina. Non-controlling interests increased by US$194 million , mainly explained by: (i) US$37 million decrease due to dividend declarations; (ii) US$81 million increase in other miscellaneous reserves, mainly related to the application of IAS 29 Financial Reporting in Hyperinflationary Economies in Argentina; (iii) US$33 million increase in other comprehensive income, mainly due to the recognition of foreign currency translation differences; and (iv) US$117 million increase from profit for the period. The development of key financial indicators is outlined below: Unit Mar 26 Dec 25 Marr 25 Variation Var % Liquidity Current Liquidity (1) Times 0.87 0.87 - 0.00 0.2% Acid Ratio (2) Times 0.79 0.80 - (0.01) (0.3%) Working Capital MMUS$ (1,087) (1,041) - (46) 4.4% Indebtedness Debt ratio (3) Times 0.85 0.88 - (0.02) (2.5%) Short-Term Debt (4) % 48.3% 47.5% - 0.8 p.p. - Long-Term Debt (5) % 51.7% 52.5% - (0.8) p.p. - Financial Cost Hedging (6) Times 4.22 - 3.74 0.48 12.9% Cost-effectiveness Operating profit/Operating income % 19.5% - 19.8% (0.3) p.p. - Annualized Dominant Return on Equity (ROE) (7) % 6.3% - 16.8% (10.5) p.p. - Annualized Return on Assets (ROA) (8) % 4.0% - 8.4% (4.4) p.p. - It corresponds to the ratio between (i) Current Assets and (ii) Current Liabilities. It corresponds to the ratio between (i) Current Assets net of Inventories and Anticipated Expenses and (ii) Current Liabilities. It corresponds to the ratio between (i) Total Liabilities and (ii) Total Equity. It corresponds to the ratio between (i) Current Liabilities and (ii) Total Liabilities. It corresponds to the ratio between (i) Non-Current Liabilities and (ii) Total Liabilities. It corresponds to the ratio between (i) the Gross Operating Profit and (ii) the Net Financial Result of Financial Income. It corresponds to the ratio between (i) the profit for the period attributable to the owners of the parent company for the twelve months as of March 31, 2026, and (ii) the average of the equity attributable to the owners of the parent company at the beginning and end of the period. It corresponds to the ratio between (i) the profit for the period attributable to the owners of the parent company for the twelve rolling months as of March 31, 2026, and (ii) the average of total assets at the beginning and end of the period. Current liquidity as of March 31, 2026 reached 0.87 times , representing an increase of 0.2% regarding same period of previous year. This ratio remained in line with the level recorded as of December 2025. The acid test ratio as of March 31, 2026 reached 0.79 times , representing a decrease of 0.3% regarding same period of previous year. This ratio also remained in line with the level recorded as of December 2025. Working capital as of March 31, 2026 amounted to a negative US$1,087 million , representing a decrease of US$46 million compared to December 2025, that is, without significant changes in this regard. The leverage ratio stood at 0.85 times , representing a 2.5% decrease compared to the level recorded as of December 31, 2025. This variation was mainly driven by higher equity resulting from the recognition of profits of US$383 million and higher positive foreign currency translation differences of US$730 million during the period ended March 31, 2026. Financial cost coverage for the period ended March 31, 2026 reached 4.22 times, representing an increase of 12.9% regarding same period of previous year. This improvement was mainly explained by higher EBITDA, driven by improved results in the distribution businesses in Argentina, Brazil, and Colombia, as well as generation in Colombia. Return on equity attributable to owners of the parent company reached 6.3% as of March 31, 2026, compared to a positive return of 16.8% recorded regarding same period of previous year. This decrease was mainly explained by the results from the sale of Enel Generación Perú and Enel Distribución Perú completed during the first half of 2024. Return on assets amounted to 4.0% as of March 31, 2026, representing a decrease of 4.4 percentage points compared to the 8.4% recorded regarding same period of previous year. This reduction is also mainly explained by the results from the sale of Enel Generación Perú and Enel Distribución Perú during the first half of 2024. Main cash flows: Net cash flow for the period amounted to a negative US$358 million for the period ended March 31, 2026, representing an increase of US$121 million regarding same period of previous year. The main cash flow variations are described below: CASH FLOWS (in millions of US$) Mar 26 Mar 25 Variation Var % Operation Flow 209 525 (316) (60.2%) Investment Flow (594) (340) (254) 74.7% Funding Flow 27 (664) 691 (104.1%) Net Flow for the Period (358) (479) 121 (25.3%) Net cash flows from operating activities amounted to US$209 million for the period ended March 31, 2026, representing a decrease of 60.2%, equivalent to US$316 million , regarding same period of previous year. This net variation in cash flows from operating activities was mainly explained by: (i) US$1,268 million in higher payments to suppliers for the supply of goods and services; (ii) US$388 million in higher payments related to other operating activities; ( iii) US$60 million in higher tax payments; and (iv) US$50 million in higher payments related to other cash outflows. The above was partially offset by: (i) US$1,118 million in higher cash collections from the sale of goods and the provision of services; (ii) US$277 million in lower payments to and on behalf of employees; (iii) US$51 million in higher collections from other operating activities; and (iv) US$4 million in higher collections of royalties, fees, commissions, and other ordinary income. Cash flows used in investing activities resulted in a higher net cash inflow of US$254 million as of March 31, 2026, compared to same period of previous year. This variation was mainly explained by: (i) US$384 million from higher purchases of investments with maturities greater than 90 days; (ii) US$205 million from higher purchases of property, plant and equipment, intangible assets, and other long-term assets; (iii) US$22 million in higher payments related to derivative instruments; and (iv) US$8 million from lower interest received on investments. The above was partially offset by positive effects resulting from: (i) US$355 million in higher collections from the sale of investments with maturities greater than 90 days; (ii) US$8 million in higher collections related to derivative instruments; and (iii) US$1 million in higher inflows from other miscellaneous items. Cash flows from financing activities resulted in a lower net cash outflow of US$691 million for the period ended March 31, 2026, compared to same period of previous year. This was mainly driven by: (i) US$271 million in lower dividend payments; (ii) US$202 million in lower repayments of loans to related companies; (iii) US$186 million in lower interest payments; (iv) US$143 million in higher proceeds from bank borrowings and bond financing; and (v) US$1 million in lower payments related to other equity interests. The above was partially offset by: (i) US$87 million in lower proceeds from loans obtained from related companies; (ii) US$10 million in higher net payments from other financing activities; (iii) US$8 million in higher repayments of bank borrowings and public debt; and (iv) US$7 million in higher payments related to lease liabilities. The following table presents capital expenditures related to additions of Property, Plant and Equipment and their depreciation for the periods ended March 31, 2026 and 2025. Information Properties, Plant & Equipment (in millions of US$) Disbursements for Incorporation of Property, Plant and Equipment, and Intangible Assets Depreciation and amortization COMPANY Mar 26 Mar 25 Var % Enel Colombia Segmento de Generación 72 57 26.3% EGP Cachoeira Dourada S.A. - - n.a. Enel Distribución Sao Paulo S.A. (Eletropaulo) (*) 140 82 70.7% Edesur S.A. 81 21 285.7% Enel Distribución Rio (Ampla) (*) 61 54 13.0% Enel Distribución Ceara (Coelce) (*) 79 54 46.3% Enel Colombia Segmento de Distribución 117 75 56.0% Enel Generación Piura S.A. 2 - n.a. Enel X Brasil 1 1 0.0% Enel Green Power Brasil 41 37 10.8% Enel Green Power Centroamérica 1 8 (87.5%) Total 595 389 53.0% Mar 26 Mar 25 Var % 28 22 27.3% 3 2 50.0% 61 56 8.9% 48 44 9.1% 33 36 (8.3%) 31 30 3.3% 40 33 21.2% 3 2 n.a. 1 1 0.0% 56 51 9.8% 13 12 8.3% 317 28 10.5% (*) Includes intangible assets for concessions MAIN RISKS ASSOCIATED WITH THE ENEL AMÉRICAS S.A. GROUP'S ACTIVITY The Group's activities are subject to a comprehensive set of government regulations, and any changes to these regulations could affect its operations, economic condition, and operating results. The Group's operating subsidiaries are subject to extensive regulations governing tariffs and other aspects that control their activities in the countries where they operate. Consequently, the introduction of new laws or regulations, as well as modifications to existing ones, could affect the Company's activities, economic position, and operating results. These new laws or regulations sometimes modify aspects of the regulations that may affect existing rights, which, where appropriate, could adversely affect the Group's future results. The Group's activities are subject to extensive environmental regulations that Enel Américas complies with on a permanent basis. Any changes to these matters could affect activities, the economic situation, and operating results. Enel Américas and its operating subsidiaries are subject to environmental regulations that, among other things, require the development of environmental impact studies for the projects under review, obtaining licenses, permits, and other necessary authorizations, and complying with all requirements specified in such licenses, permits, and regulations. As with any regulated company, Enel Américas cannot guarantee that: Such environmental impact assessments shall be approved by public authorities. Public opposition does not lead to delays or modifications of any proposed project. Laws or regulations shall not be modified or construed in such a way as to increase expenses or affect operations, plants, or plans for the Group's companies. The Group's commercial activity has been planned to moderate possible impacts arising from changes in hydrological conditions. Enel Américas Group's operations include hydroelectric generation and therefore depend on the hydrological conditions at any given time across the broad geographical areas where the Group's hydroelectric facilities are located. If droughts or other conditions negatively impact hydroelectric generation, results could be adversely affected. That is why Enel Américas has decided, as part of its key trade policy, not to put 100% of its total capacity under contract. At the same time, the electricity business is influenced by atmospheric conditions, such as average temperatures, which affect consumption. As is customary in bank loans and capital market transactions, a portion of Enel Américas' financial debt is subject to cross-default provisions. If certain defaults are not remedied, they could trigger a cross-default and, eventually, render certain liabilities of Enel Américas payable. Regarding the credit facility under New York State law, entered into in February 2024 and maturing in February 2027, prepayment may occur if, after any applicable grace period, debts of Enel Américas are not paid, and the individual outstanding principal exceeds US$150 million. Additionally, this credit facility includes provisions that allow certain events, other than non-payment by Enel Américas, such as bankruptcy, insolvency, or adverse enforceable court judgments exceeding US$300 million, to trigger loan acceleration. Regarding Yankee Bonds issued in 2016 and maturing in 2026, a mandatory prepayment may be required if any debt of Enel Américas or any Significant Subsidiary (as defined in the contract) with an amount exceeding US$150 million or its equivalent in other currencies remains unpaid after any applicable grace period. However, for the specific case of the Yankee bond issued in 1996 and maturing in 2026, the prepayment obligation is triggered only by the Issuer's or Debtor's default on individual debt of US$30 million or its equivalent in other currencies, without regard to the Issuer's or Debtor's foreign subsidiaries. There are no provisions in the credit agreements that require debt prepayment due to changes in Enel Américas' corporate risk rating or debt rating by credit rating agencies. For further information on the risk management policy, see note 22 to Enel Américas' Consolidated Financial Statements as of March 31, 2026. BOOK VALUE AND ECONOMIC VALUE OF ASSETS The subsequent should be specified with regard to significant assets: The valuation of property, plant, and equipment is determined by subtracting accumulated depreciation and impairment losses since acquisition from the original cost. Excluding the residual value, the assets, facilities, and equipment are depreciated using a method that evenly distributes the cost of the asset's components over their estimated useful lives, which are the number of years the company expects to use the asset. This estimated useful life is reviewed periodically. The excess of the acquisition cost over the Group's interest in the fair value of assets and liabilities-including identifiable contingent liabilities and non-controlling interests of a subsidiary-at the acquisition date is recorded as a capital gain (or as a lower value of investments or goodwill) during the consolidation process. The capital gain is not amortized. However, at the end of each fiscal year, an assessment is conducted to determine whether any impairment has occurred that reduces the recoverable amount below the recorded net cost. If so, the appropriate impairment adjustment is made, as detailed in Note 3.e of the Consolidated Financial Statements. Throughout the year, especially at year-end, it is evaluated whether there is any evidence that an asset has incurred an impairment loss. If such evidence is found, the asset's recoverable amount is estimated to determine the impairment loss. For identifiable assets that do not generate cash flows independently, the recoverability of the Cash Generating Unit (CGU) to which they belong is assessed, thereby identifying the smallest group of assets that generate independent cash flows. Assets denominated in foreign currency are reported at the exchange rate prevailing at the end of the period. Accounts and notes receivable from related companies are classified by maturity: short- and long-term. Transactions adhere to fairness standards comparable to those in the market. In summary, assets are reported at their fair value, as outlined in Notes 2 and 3 of Enel Américas' Consolidated Financial Statements, in accordance with International Financial Reporting Standards. For further information on the risk management policy, see note 22 to Enel Américas' Consolidated Financial Statements as of March 31, 2026. Page

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