Engie Brasil Energia S A : Results Presentation – 1Q26

About this update from Engie Brasil Energia S.a.

ENGIE Brasil Energia S.A. May 7, 1 2 3 4 5 6 7 01 02 03 Results Presentation 1Q26 3 04 05 01 1 2 3 4 5 6 7 Capacity Reserve Auction (LRCAP): Jaguara HPP secured 195.78 MW of contracted capacity for a 15-year period as of August 2030. Addition of 232 MW of installed capacity, with total CAPEX of approximately BRL 1.2 billion. Successful bid in Aneel Transmission Auction 01/2026, securing Lot 2 e Sub-lots 3 . Facilities located in SC and PR, as well as CE and RN, for a 30-year term concession. Annual contracted RAP: R$ 122.8 million Fixed annual revenue: R$ 270.4 million ENGIE celebrates the 21 st consecutive year as part of the Corporate Sustainability Index (ISE) and its continued presence in the Dow Jones Best-in-Class Emerging Markets. The Board of Directors approved the adherence to the mechanism for renegotiation of the liability recorded as Public Asset Use (UBP) for the Cana Brava and Ponte de Pedra HPP concessions. Fitch Ratings reaffirmed the Long-Term National Rating at 'AAA(bra)' . The long term-international ratings were also reiterated at 'BB+' (foreign currency) and 'BBB-' (local currency) , all with a stable outlook. Approval the distribution of dividends at the AGM, in the amount of R$ 557.8 million (R$ 0.4883/share), related to the fiscal year of 2025 . Ex-dividends starting May 5, 2026. Payment on May 20, 2026 . Access th e full content Results Presentation 1Q26 5 1 2 3 4 5 6 7 | Adjusted Ebitda 1 (R$ million) 2,040 4 2,044 2,248 2,244 4 +10.0% R$ 265 million R$ 27 million 1Q25 1Q26 R$ 34 million Adjusted Ebitda Non-recurring | Adjusted Net Income (R$ million) 826 792 R$ 204 million R$ 62 million R$ 28 million 3 3 -4.1% 823 789 1Q25 1Q26 Adjusted Net Income Non-recurring Note: 1 Adjusted Ebitda: net income + income tax and social contribution + financial result + depreciation and amortization + non-recurring. Results Presentation 1Q26 6 1 2 3 4 5 6 7 | Emissions intensity 1 (tCO 2 e/MWh) 0.0478 | Health and Safety - Frequency rate (own employees + service providers)* | Gender distribution in leadership positions (%) 1.140 67.8% 68.3% 0.900 0.450 0.900 32.2% 31.7% 0.0233 0.0019 0.0008 1Q25 1Q26 ENGIE NIS* *Source: Ministry of Science, Technology and Innovation | Investments in Innovation (R$ million) 11.7 12.9 1Q25 1Q26 Frequency rate Reference (≤) *Nº of acidentes / millions of hours of exposure to the risk | Social Responsibility Investments (R$ million) 1.5 1.4 1.0 2.5 1Q25 1Q26 Women Men | Engaged People - "Conexão" Community Relationship Program 13,689 10,696 Note: 1Q25 1Q26 1Q25 1Q26 Incentivized Resources Own Resources 1Q25 1Q26 Results Presentation 1Q26 7 1 Emissions data subject to review after annual consolidation into the emissions inventory. 02 1 2 3 4 5 6 7 +2.9 p.p. -0.2 p.p. 96.6% 99.5% 91.7% 93.0% 93.8% 95.6% +1.3 p.p. +1.8 p.p. 99.98%99.78% Hydro Wind Photovoltaic Transmission 1Q25 1Q26 Note: Considering programmed and forced stoppages . Results Presentation 1Q26 9 1 2 3 4 5 6 7 | % of Curtailment over Generation - 1Q26 (avg MW) Wind + solar generation Total generation 214 1,035 1,250 (17%) Generation Curtailment 214 5,840 6,054 (4%) Curtailment in 1Q26 in line with National Integrated System (SIN) . Organic growth in wind and solar generation with entry into full commercial operation of the Serra | % of Curtailment* per source 1Q25 1Q26 Wind Solar Total Wind Solar Total ENGIE 20% 19% 20% 17% 17% 17% SIN 14% 21% 16% 15% 19% 17% Source: ENGIE Brasil Energia internal study based on premises disclosed by ONS and subject to updates. do Assuruá Wind and Assú Sol Photovoltaic Complexes . Increased proprietary installed capacity by 1.4 GW between 1Q25 and 1Q26. Results Presentation 1Q26 10 1 2 3 4 5 6 7 New solar Solar SHP Biomass Wind 1Q26 1Q25 691 729 21 21 5 236 1,056 109 989 | Generation by Complementary Source (avg MW) +6.7% 234 | Generating Scaling Factor ( GSF ' ) -7p.p 1.052 1.102 1.047 1.021 1.005 1.057 0.985 0.909 Jan Feb Mar 1Q 2025 2026 Note: 1 GSF': without the effects of seasonality of the agents. Results Presentation 1Q26 11 1 2 3 4 5 6 7 | Energy Balance (% of total; in avg MW) as of March 31, 2026 165 572 (3%) (10%) 5,622 248 (4%) 572 (10%) 5,560 653 (12%) 572 (10%) 5,413 5,355 1,489 (28%) 1,683 (31%) 4,418 2,960 (50%) 2,464 (44%) 1,921 (35%) 572 (11%) 1,053 (24%) 572 (11%) 1,122 (21%) 956 (18%) 572 (13%) 649 (15%) 2,178 (37%) 2,338 (42%) 2,414 (43%) 2,230 (41%) 2,144 (40%) 2,144 (49%) 5,875 | Uncontracted energy compared to the availability of a given period 40% 41% 35% 32% 31% 25% 25% 28% 28% 12% 15% 13% 12% 7% 3% 3% 6% 4% 45% 45% 2026 2027 2028 2029 2030 12.31.2023 12.31.2024 12.31.2025 03.31.2026 2026 2027 2028 2029 2030 2031 Evolution of the number of free customers and consumer units 2,434 (+34.6% compared to 1Q25) Number of free consumers in 1Q26 2 4,895 (+29.2% compared to 1Q25) Consumer Units served in 1Q26 2 Regulated Market Free Market Commercial hedge 1 Available Notes: 1 Indicative commercial hedge, subject to fluctuation depending on market conditions. 2 Considers all consumer units with active contracts. Results Presentation 1Q26 12 03 1 2 3 4 5 6 7 691 (23%) 47 3,013 +13.1% 244 216 11 74 (149) 542 (16%) 3,409 121 (4%) (2%) 2,275 (76%) 2,746 (81%) NOR 1Q25 Price and sales volume CCEE Others Trading Transmission NOR 1Q26 Generation and portfolio sale Trading Transmission Results Presentation 1Q26 14 | TAG's Net Income Change (R$ million) 1 2 3 4 5 6 7 953 167 Net income 1Q25 (297) EBIT 43 (34) Financial result 64 Income taxes 763 133 Net income 1Q26 Contribution to Ebitda Stake of 17.5% in TAG, resulting in the contribution of R$ 133 million through equity income to the Company's Ebitda in 1Q26 . Results Presentation 1Q26 15 (25) (34) 1 2 3 4 5 6 7 167 (8%) 1,756 (84%) 1,804 168 (9%) 167 (9%) 2,044 167 (8%) 121 34 (180) 133 (6%) 1,525 (75%) 32 1,469 (81%) 2,248 348 (17%) 2,089 200 (10%) 133 (6%) 348 (17%) +10.0% +10.0% +15.8% (56) 4 (4) 321 (14%) 1,790 (80%) 133 (6%) 321 (14%) 1,794 (80%) 312 2,244 2,040 1,529 (75%) Ebitda 1Q25 Non-recurring Adjusted Ebitda 1Q25 IFRS* adjustment Ebitda adjusted by trans./quota 1Q25 Operating and commercial performance Costs and Operating Expenses Transmission Equity income (TAG) Ebitda adjusted by trans./quota 1Q26 IFRS* adjustment Adjusted Ebitda 1Q26 Non-recurring Ebitda 1Q26 Generation and trading 1 Equity Income (TAG) Transmission Notes: 1 Considering the result from generation and trading segments. *IFRS: International Financial Reporting Standards Adjusted Ebitda: net income + income tax and social contribution + financial result + depreciation and amortization + non-recurring . Results Presentation 1Q26 16 1 2 3 4 5 6 7 -4.1% -4.1% (62) 826 (3) 204 (204) 823 789 3 792 28 Net income 1Q25 Non-recurring Adjusted net income 1Q25 Adjusted Ebitda Depreciation and amortization Financial Result Income Taxes Adjusted net Non-recurring income 1Q26 Net income 1Q26 Results Presentation 1Q26 17 1 2 3 4 5 6 7 Debt control + active management of debt costs | Debt Overview (R$ million) 24,442 20,905 29,329 3.8x 31,911 6,465 4.1x 461 24,984 + successful investment decisions 2.9x (R$ million) 2.1x 3.3x 2.7x 3.3x Total Debt / Ebitda 2 3.2x ensure balanced levels of the Net Debt/Ebitda ratio. 2023 2024 2025 1Q26 Cash and equivalents Escrow deposits Net Debt 1Q26 Local Currency Debt 1 Total Debt / LTM Adjusted Ebitda 2 Net Debt / LTM Adjusted Ebitda 2 Notes: 1 Gross debt, net of hedge operations. 2 Adjusted Ebitda in the past 12 months. Results Presentation 1Q26 18 1 2 3 4 5 6 7 | Maturity Debt Schedule (R$ million) 3,245 2,551 2,397 2,604 2,199 2,208 2,200 1,876 2,222 1,885 1,603 1,595 788 231 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 Fixo IPCA TJLP CDI PRE Indexation of energy sales contracts mitigates exposure of debt to IPCA and cash position mitigates part of CDI exposure. average average 2038 to 2043 to 2042 2048 1Q26: Nominal cost of debt: 11.3% p.a. (equivalent to IPCA + 6.9%) Average debt term: 7.2 years 1Q25: 11.6% p.a. (equiv. to IPCA + 5.8%) Results Presentation 1Q26 19 1 2 3 4 5 6 7 | Allocated/Expected Capex (R$ million) 9,664 7,640 7,270 7,367 6,941 6,040 4,007 3,150 2,854 2,737 1,450 2022 2023 2024 2025 2026E 2027E 2028E Adjusted Ebitda Allocated Capex Expected Capex Results Presentation 1Q26 20 The expansion plan and maintenance CAPEX are supported by a strong cash flow generation and prudent funding strategy . Note: 1 Does not consider interests incurred during the construction . Approved the participation in the mechanism for renegotiating the installments due under the UBP for the Cana Brava and Ponte de Pedra hydropower plants concessions. The Law 15.235/25 authorizes the settlement of future UBP obligations, through a single payment, calculated as the present value of the installments. Notes: 1 As of December 31, 2025 . 2 As of December 8, 2025. The final amount to be paid will be restated at the variation of the SELIC rate as from December 8, 2025, until the date of final settlement. The monthly installments paid during that same period, also adjusted at the SELIC rate, will be deducted from this adjusted balance. 1 2 3 4 5 6 7 16/April: Board of Directors approval | Next steps: 30/April: formal adherence ❑ +30 days: amendment signing ❑ +30 days: financial settlement Results Presentation 1Q26 21 04 1 2 3 4 5 6 7 Contracted RAP 1 : R$ 282.7 million Capex Aneel 2 : R$ 2,667 million Concession period: 30 years Deadline to start operation: March 2029 (66 months) Contracted RAP 1 : In 1Q26, progress was made in environmental licensing and land clearance activities . Ongoing pre-construction activities and engineering development . BA Asa Branca Graúna MG ES PR Graúna SP SC under implementation under operation Graúna: 5% of RAP Asa Branca: 32.3% of RAP R$ 268.3 million Capex Aneel 2 : R$ 2,933.6 million Concession period : 30 years Deadline to start operation: December 2029 (60 months) Technical features: estimated length of 1,000 Km; 4 transmission lines of 500 kV single-circuit, crossing 60 municipalities in the states of Bahia, Minas Gerais and Espírito Santo. Notes: 1 Value as of June/25. 2 Value as of December/22. Technical features: construction of ~732 km length (6 new transmission lines) and 2 new substations; brownfield section: operation of 4 existing lines (162 km) and 2 own substations 47 municipalities. LT 500kV Morro do Chapéu II -Poções III section (BA) , with 334 kilometers of length was energized on November 26, 2025 , representing 32.3% of total RAP. In 1Q26, the Installation License was obtained for all transmission lines, as well as for the construction of the Medeiros Netto II Substation. Notes: 1 Valor as of June/25. 2 Valor as of December/22. Results Presentation 1Q26 23 1 2 3 4 5 6 7 Colibri (SC, PR, CE, RN) CE RN Colibri A, B, C, D (Sublots 3) 3-A (RN): 1 synchronous compensator 3-B (CE): 1 synchronous compensator 3-C (CE): 2 synchronous compensators 3-D (RN): 1 synchronous compensator Contracted RAP 1 : R$ 122.8 million Capex Aneel 1 : R$ 1,574.7 million Concession period: 30 years Deadline to start operation: December 2029 (42 months) Relevant local and operational synergies with other Company assets . PR Colibri Sul (Lot 2): 143Km Sinergy: SC • The transmission line connects to the Ponta Grossa Substation (Gralha Azul) Technical features: Lot 2: construction of one 230 kV transmission line, approximately 143 km in length. Sublots 3A-3B-3C-3D: installation of five synchronous condensers. Note: 1 Value as of August/25. Results Presentation 1Q26 24 1 2 3 4 5 6 7 Jaguara HPP (MG) BA Expansion of Jaguara HPP aligned with the Company's strategy to invest in high-performance assets with 100% clean energy. Current installed capacity: 424 MW Commercial capacity: 324 MW MG ES Concession period: June 2048 Increase of installed capacity: +232 MW (2 turbines of 116 MW) Auction performed in March 2026. Technical features: 70% of commercial capacity under quota regime (ACR), free of GSF. 30% of commercial capacity directed to the Free Contracting Environment (ACL). Notes: 1 Baseline: September 2025 (annual adjustment in August based on the IPCA). 2 Baseline: March 2026. Auction features Power capacity contracted (MW) 195.78 MW Contract term 15 years Beginning of operation August 2030 Annual fixed revenue R$ 270.4 million 1 Estimated Capex R$ 1.2 billion 2 Results Presentation 1Q26 25 1 2 3 4 5 6 7 | Production (avg MW) +6.7% 2,998 2,944 54 2,809 Uptime | PPAs portfolio 3 (avg MW) 209 1,953 2,162 45 95 2,182 2,257 2,257 2,257 2,257 2,257 Installed Capacity: 3,750 MW 50 Generating Units 75 MW each GU Physical Guarantee 2 : 2,809 Ratio (FID) in 1Q26: 100% 1 94 538 14 538 14 95 561 14 22 95 583 14 95 95 2,182 avg MW 90m extended 2,257 avg MW 90m constant 1,565 -29 1,565 1,565 1,565 Shareholding Structure ENGIE Brasil Participações 1Q25 1Q26 2026-27 2028-34 2035 2036-42 2043 2044-45 Notes: Jirau part Bolivia part Regulated Bilateral Partners Uncontracted Losses AXIA Energia MITSUI & CO. 1 Subject to final CCEE booking. 2 Order 2.946 - The Ministry of Mines and Energy established new physical guarantee amounts for the Jirau HPP of 2,222.6 aMW for operation at the 90-meter extended level and 2,335.1 aMW for operation at the 90-meter constant level. Of the total increase, one-third belongs to the Bolivian government. Therefore, the share allocated to Brazil corresponds to 2,182.2 aMW (extended level) and 2,257.2 aMW (constant level). 3 Process of concession term extension until August 16, 2047, currently under review by ANEEL, pursuant to Memorandum No. 111/2026-SCE/Aneel. Results Presentation 1Q26 26 1 2 3 4 5 6 7 Dec/25 - 1Q26 Board of Directors authorized the start of feasibility studies for the potential transfer; Special Independent Committee for Transactions with Related Parties establish; Studies and analyses regarding the most appropriate structure for the transfer to the Company of the shareholding interest in Jirau Energia. Next steps Special Committee for Transactions with Related Parties recommendation; Related corporate resolutions. Installed Capacity: 3,750 MW 50 Generating Units 75 MW each GU Physical Guarantee 2 : 2,182 avg MW 90m extended 2,257 avg MW 90m constant Shareholding Structure ENGIE Brasil Participações AXIA Energia MITSUI & CO. Results Presentation 1Q26 27 05 1 2 3 4 5 6 7 Good portfolio management and diversification into other regulated segments, such as transmission, natural gas transportation and energy contracts in the ACR, result in stability and predictability of results. Recent Capex cycle linked to renewables and transmission expansion still not fully contributing to Ebitda. Investments: Proprietary installed capacity: Total: +52% Renewable: +79% Value creation in the gas segment, through TAG Amounted to R$ 44.2 billion , with 79% leverage Transmission: | ROE 1 - Adjusted Return on Equity (%) 34.9 | ROIC 2 - Adjusted Return on Invested Capital (%) 3,205 km under operation and 6 own substations 27.4 20.4 25.8 19.0 20.3 17.2 13.8 16.2 13.9 2023 2024 2025 1Q25 1Q26 2023 2024 2025 1Q25 1Q26 Notes: ENGIE Brasil Energia internal study based on the Company's Financial Statements. 1 ROE: net income of the past 4 quarters / shareholders' equity. Adjusted ROE net of non-recurring. 2 ROIC: effective tax rate x EBIT / invested capital (invested capital: debt - cash and cash equivalents - deposits earmarked for debt servicing + SE). Adjusted ROIC net of non-recurring. 3 Nominal amount. Adjusted Ebitda: +141% Dividends and Interest on Equity: R$ 18.9 billion Adjusted Net Income: +74% Results Presentation 1Q26 29 | Adjusted Ebitda breakdown: 9% 6% 14% 15% Generation/Trading 2016 2025 1Q26 Transmission TAG 100% 76% 80% 1 2 3 4 5 6 7 Consolidated (in R$ million) 1Q26 1Q25 Chg. Net Operating Revenue (NOR) 3,409 3,013 13.1% Results from Operations (EBIT) 1,865 1,722 8.3% Ebitda 1 2,248 2,044 10.0% Adjusted Ebitda 2 2,244 2,040 10.0% Adjusted Ebitda by transmission and quota effects 3 2,089 1,804 15.8% Ebitda / NOR - (%) 1 65.9 67.8 -1.9 p.p. Adjusted Ebitda / NOR - (%) 2 65.8 67.7 -1.9 p.p. Net Income 792 826 -4.1% Adjusted Net Income 789 823 -4.1% Adjusted Return on Equity (ROE) 4 19.0 25.8 -6.8 p.p. Adjusted Return on Invested Capital (ROIC) 5 13.9 16.2 -2.3 p.p. Net Debt 6 24,984 20,672 20.9% Gross Power Production (avg MW) 7 5,840 5,389 8.4% Energy Sold (avg MW) 8 4,904 4,439 10.5% Average Net Sales Price (R$/MWh) 9 216.76 213.98 1.3% Number of Employees - Total 1,348 1,247 8.1% EBE Employees 1,319 1,223 7.8% Employees on Under Construction Plants 29 24 20.8% Notes: 1 Ebitda: net income + income tax and social contribution + financial result + depreciation and amortization. 2 Adjusted Ebitda represents: net income + income tax and social contribution + financial result + depreciation and amortization + impairment + non-recurring. 3 Adjusted Ebitda, less the effects of IFRS in the transmission segment and quota plants. 4 ROE: adjusted net income of the past 4 quarters/ shareholders' equity. 5 ROIC: effective tax rate x adjusted EBIT / invested capital (invested capital: debt - cash and cash equivalents - deposits earmarked for debt servicing + SE). 6 Adjusted amount, net of gains from hedge operations. 7 Total electricity output from the plants operated by ENGIE Brasil Energia. 8 Disregarding sales for quotas regime (Jaguara and Miranda HPPs). 9 Net of taxes, exports and trading operations. Results Presentation 1Q26 30 Attention : This is an excerpt of the original content. To continue reading it, access the original document here .

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