Engie Brasil Energia S A : Results Presentation – 3Q25

About this update from Engie Brasil Energia S.a.

ENGIE Brasil Energia S.A. November 5, 2025 6 1 3 5 2 4 1 Trairi Wind Complex / CE Serra do Assuruá Wind Complex: 100% physical progress, being 88% commercially operating and 12% under test. Assu Sol Photovoltaic Complex: 99% physical progress, 25% of the plants are under commercial operation and 75% under test. Anefac Transparency Trophy (15 th time): which recognizes the best governance practices, transparency and quality of financial statements. The Company was once again certified as one of the best place to work according to the GPTW -Great Place to Work Brasil ranking. The acquisition of the Santo Antônio do Jari and Cachoeira Caldeirão hydropower plants has been completed, with a total installed capacity of 612 MW and 334 avg. MW of commercial capacity, with effects as from August 13, 2025. * The recording of the event will be made available the week following the event. November 28 Approved a capital increase through the issuance of new shares, distributed to shareholders as a bonus share , at the ratio of 1 new share for every 2,5 common shares. Adjusted Ebitda 1 (R$ million) 6,780 R$ 179 million R$ 43 million R$ 16 million Generation Segment Transmission Segment Result of equity income (TAG) R$ 83 million R$ 79 million R$ 21 million Depreciation and amortization Financial Result Income Taxes 19 +6.4% 1,654 1,882 11 +12.4% (11) 1,871 1,665 5,778 5,432 1,348 5,797 3Q24 3Q25 9M24 9M25 Adjusted Ebitda Non-recurring Adjusted Net Income (R$ million) (8) 666 658 738 731 +9.8% 3,213 2,314 899 2,132 2,119 13 -8.4% Note: 1 Adjusted Ebitda: net income + income tax and social contribution + financial result + depreciation and amortization + non-recurring. 7 3Q24 3Q25 9M24 9M25 Adjusted Net Income Non-recurring EMISSIONS INTENSITY 1 (tCO 2 e/MWh) HEALTH AND SAFETY - FREQUENCY RATE (OWN EMPLOYEES + SERVICE PROVIDERS)* % OF WOMEN IN THE WORKFORCE AND LEADERSHIP POSITIONS 1.400 1.400 0.900 0.460 0.900 0.520 0.210 0.217 0.0635 0.0461 0.0378 0.0016 0.0018 0.0018 0.0022 0.0742 31.4% 31.5% 30.5% 30.9% 3Q24 3Q25 9M24 9M25 3Q24 3Q25 9M24 9M25 3Q24 9M24 3Q25 9M25 3Q24 9M24 3Q25 9M25 ENGIE NIS* *Source: Ministry of Science, Technology and Innovation INVESTIMENTS IN INNOVATION ( R$ million) 33.5 11.7 12.5 39.7 Frequency rate Reference (≤) * Nº of accidents / millions of hours of exposure to the risk SOCIAL RESPONSABILITY INVESTIMENTS 17.6 11.5 8.9 3.9 4.6 4.3 1.4 1.6 (R$ million) % of women % of women in leadership positions ENGAGED PEOPLE - "CONEXÃO" COMMUNITY RELATIONSHIP PROGRAM 63,828 41,452 31,141 95,771 3Q24 3Q25 9M24 9M25 3Q24 3Q25 9M24 9M25 Incentivized Resources Own Resources 3Q24 3Q25 9M24 9M25 Note: 1 Emissions data subject to review after annual consolidation into the emissions inventory. Results Presentation 3Q25 ENGIE Brasil Energia S.A. 2 Umburanas Wind Complex / BA 0.03 p.p. 5.8 p.p. 4.2 p.p. 8.5 p.p. 96.6% 88.1% 93.9% 88.1% 89.1% 93.3% 99.97%100.00% Hydro Wind Photovoltaic Transmission 3Q24 3Q25 Note : Considering programmed and forced stoppages. % of Curtailment over Generation - 3Q25 (avg MW) 1,975 430 (7%) 6,167 430 (22%) 1,545 Wind + solar generation Total generation 6,597 Generation Curtailment Curtailment in 3Q25 in line with National Integrated System (SIN) . Organic growth in wind and solar generation with entry into commercial operation of the Serra do Assuruá Wind and Assú Sol Photovoltaic Complexes. Increased proprietary installed capacity by 689 MW between 3Q24 and 3Q25. Acquisition of the Cachoeira Caldeirão and Santo Antônio do Jari Hydroelectric Power Plants, adding 612 MW of installed capacity. % of Curtailment* per source - ENGIE 3Q25 Wind Solar Total ENGIE 19% 36% 24% National Integrated System (SIN) 19% 36% 22% 3Q24 Wind Solar Total ENGIE 13% 20% 15% National Integrated System (SIN) 11% 25% 13% *ENGIE Brasil Energia internal study based on premises disclosed by ONS and subject to updates. 53 1,292 4,561 8 Gross Power Generation (avg MW) Generation by Complementary Source (avg MW) -2.7% 60 6 990 151 6,338 6,167 6,194 -15.8% +33.1% 1,606 253 43 13 5,314 703 121 5,218 241 1,207 33 118 135 53 8 +50.8% 96 145 1,327 3,891 34 15 1,037 60 5,131 118 350 6 41 80 942 880 34 15 210 780 43 13 107 325 712 596 Wind SHP Biomass Solar 3Q24 3Q25 9M24 9M25 Hydro 3Q24 3Q25 9M24 9M25 Wind New wind SHP Biomass Solar New solar 3 Gralha Azul Transmission System/ PR 13 Energy Balance (% of total; in aMW) | as of September 30, 2025 5,574 5,693 5,583 5,559 Uncontracted energy compared to the availability of a given period 44% 46% 45% 572 (3%) (10%) 2,766 (49%) 1,992 (36%) 2,144 (40%) 2,144 (39%) 2,144 (39%) 2,154 (39%) 2,180 (38%) 748 (14%) 930 (17%) 572 (11%) 572 (11%) 1,767 (32%) 2,958 (53%) 572 (1%) (10%) 585 (10%) 1,076 (19%) 1,787 (33%) 1,906 (36%) 572 (10%) 572 (10%) 2,272 (41%) 52 175 5,433 5,370 35% 35% 40% 38% 37% 33% 25% 21% 25% 24%24% 19% 14% 12% 15% 14%14% 10% 7% 4% 3% 2% 1% 7% 6% 6% 3% 2025 2026 2027 2028 2029 12.31.2022 12.31.2023 12.31.2024 03.31.2025 06.30.2025 09.30.2025 Evolution of the number of free customers and consumer units 2025 2026 2027 2028 2029 2030 Regulated Market Free Market Structural GSF Hedge (0.80) Available 2,056 (+17.6% compared to 3Q24) Number of free consumers in 3Q25 2 4,590 (+23.7% compared to 3Q24) Consumer Units served in 3Q25 1 Note: ¹ Considers all consumer units with active contracts. Results Presentation 3Q25 ENGIE Brasil Energia S.A. 4 Serra do Assuruá Wind Complex / BA 15 Wind turbines commissioning evolution Overall physical progress: 100% 188 188 188 Assembly and commissioning completed for all wind turbines. Waiting for Aneel's approval for commercial operation. 06.30.2025 09.30.2025 11.05.2025 test operation commercial operation 165 (88%) 165 (88%) 165 (88%) 23 (12%) 23 (12%) 23 (12%) Gentio do Ouro (BA) Total Installed Capacity: ~846 MW Start of Construction: 2023 Commercial Capacity: 410.2 aMW Investment (R$ mm) 1 : ~R$ 6,000 24 wind parks Note: Operation: Gradual 3Q24-4Q25 Nº of turbines: 188 (4.5 MW each) in a single phase. 1 Value as of May 2022. R R e e s s u u l l t t s s P P r r e e s s e e n n t t a a t t i i o on n 3 Q Q25 ENGIE Brasil Energia S.A. 16 Plants commissioning evolution 16 16 16 Progress of installation activities : 99% Completed: supply of components, earthworks, foundations and assembly of trackers, installation of solar panels , inverters and medium voltage substations, commissioning and energization of the entire park . 06.30.2025 09.30.2025 11.05.2025 under construction test operation commercial operation 4 (25%) 4 (25%) 4 (25%) 8 (50%) 12 (75%) 12 (75%) 4 (25%) Assú (RN) Total Installed Capacity: ~752 MWac (~895 MWp) Commercial Capacity: 229.6 aMW Investment (R$ mm) 1 : ~R$ 3,300 Start of Construction: 3Q23 Operation: Gradual 4Q24-1Q26 2.3k - inverters 13.6k - trackers 1.5M - modules Note: 1 Value as of January 2023. R R e e s s u u l l t t s s P P r r e e s s e e n n t t a a t t i i o on n 3 Q Q25 ENGIE Brasil Energia S.A. 17 Works on the LT 500kV Morro do Chapéu II - Poções III section Strategic location for seamless flow of renewable energy from Northeast to the Southeast and Midwest regions. BA Asa Branca (BA, MG, ES) Contracted RAP 1 : R$ 282.7 million Capex Aneel 2 : R$ 2,667 million Technical features: Concession period: 30 years Deadline to start operation: March 2029 (66 months) (BA), with equipment assembly and commissioning at substations and assembly of metal structures, cable laying and commissioning MG on the transmission line . Expected start of operations in 4Q25 (33% of RAP). ES Installation License request filed for the sections LT 500kV Notes: 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. Poções III - Medeiros Neto II - João Neiva 2 - Viana 2 and associated substations. Location of Asa Branca project 1 Value as of June/25. 2 Value as of December/22. R R e e s s u u l l t t s s P P r r e e s s e e n n t t a a t t i i o on n 3 Q Q25 ENGIE Brasil Energia S.A. 18 Operational synergies with assets located in Paraná, Santa Catarina, Minas Gerais and Espírito Santo. Negotiation of Main Supply Contracts and completion of applications for preliminary licenses . BA GGRRAAÚÚNNAA MG ES SP PR GRAÚNA SC Graúna (SC, PR, SP, MG, ES) Contracted RAP 1 : R$ 268.3 million Capex Aneel 2 : R$ 2,933.6 million Technical features : Concession period: 30 years Deadline to start operation: Dec/2029 (60 months) Commercial operation of the brownfield section -corresponding to 5% of the total RAP - on July 18, 2025. Transmission Assets (Gralha Azul and Asa Branca) Graúna Greenfield lot - Auction 02/2024 Graúna Brownfield lot - Auction 02/2004 Power plants under operation construction of ~732 km length (6 new transmission lines) and 2 new substations; Brownfield: operation of 4 existing lines (162 km) and 2 own substations; 47 municipalities. Note: 1 Value as of June/25. R R e e s s u u l l t t s s P P r r e e s s e e n n t t a a t t i i o on n 3 Q Q25 ENGIE Brasil Energia S.A. 19 Production (average MW) PPAs Portfolio (average MW) Jirau HPP +113.1% 826 387 811 15 387 Uptime operating factor 3Q25: 100% 1 2,152 2,182 2,257 2,257 2,257 2,257 2,257 Installed Capacity: 3,750 MW 50 Generating Units Physical Guarantee 2 : 2,182 aMW - 90m extended 2,257 aMW - 90m constant 75 MW each GU Shareholding Structure 93 538 14 94 538 14 42 98 98 98 98 98 538 14 558 14 22 580 14 2,159 1,565 1,565 1,565 1565 1565 209 1,950 3Q24 3Q25 (58) 2025 (29) 2026-27 2028-34 2035 2036-42 2043 2044-45 40% Jirau part Bolivia part Regulated Bilateral Partners Uncontracted Commercial capacity exposure Losses 20% Notes: 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). 40 % R R e e s s u u l l t t s s P P r r e e s s e e n n t t a a t t i i o on n 3 Q Q25 ENGIE Brasil Energia S.A. 1 B 2 20 4 6 5 3 A Generation Serra do Assuruá Wind Complex - BA Installed capacity: 846.0 MW Commercial capacity: 410.2 aMW C D Santo Agostinho Wind 1 Complex (Fase II) - RN D Santo Agostinho Installed capacity: Installed 279 MW Assú Sol Photovoltaic Complex - RN Installed capacity: 752.0 MW Commercial capacity: 229.6 aMW 2 Photovoltaic Complex - RN capacity: ~509 MW Transmission Umburanas Wind Complex 3 (Fase II) - BA Campo Largo Wind Installed capacity: Installed 250 MW Asa Branca Transmission System - BA/MG/ES Length: ~1,000 Km 4 Complex (Fase III) - BA capacity: 250 MW Graúna Transmission System - SC/PR/SP/MG/ES Length: ~732 Km Campo Largo Photovoltaic 5 Complex - BA Installed capacity: ~308 MW 6 Alvorada Photovoltaic Complex - BA Installed capacity: ~100 MW ~779 MW + ~917 MW = ~1,696 MW Results Presentation 3Q25 ENGIE Brasil Energia S.A. 20 Results Presentation 3Q25 ENGIE Brasil Energia S.A. 5 Estreito Hydro Power Plant / TO/MA From 2016 - 2024 3 22 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. These areas combined represent about 65% of the Company's Ebitda. Recent Capex cycle linked to renewables and transmission expansion still not fully contributing to Ebitda. ROE 1 - Adjusted return on equity (%) ROIC 2 - Adjusted return on invested capital (%) Investments: Amounted to R$ 38.2 billion , with 78% leverage Entry into transmission: 2,871 km under operation and 6 own substations Adjusted Ebitda breakdown: Proprietary installed capacity: Total: Renewable: +36% +60% Value creation in the gas segment, through TAG 32.7 34.9 27.4 26.5 23.6 20.3 20.3 17.2 16.7 14.9 10% 13% 9% 16% Generation/Trading 2022 2023 2024 3Q24 3Q25 2022 2023 2024 3Q24 3Q25 2016 2024 9M25 Transmission TAG 100% 77% 75% 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: +132% Dividends and Interest on Equity: R$ 17.5 billion Adjusted Net Income : +106% R R e e s s u u l l t t s s P P r r e e s s e e n n t t a a t t i i o on n 3 Q Q25 ENGIE Brasil Energia S.A. 78 291 (11%) 3,343 (3%) 2,168 (85%) +31.8% 128 4 73 249 352 2,549 (76%) 151 (5%) 643 (19%) 2,537 NOR 3Q24 Price and sales CCEE Financial assets Trading Transmission NOR 3Q25 volume and others Generation and portfolio sale Trading Transmission TAG Income Statement (R$ million) Stake of 17.5% in TAG, resulting in the contribution of R$ 166 million through equity income to the Company's Ebitda in 3Q25 . 2,305 (41) 948 166 (590) (194) (532) Contribution to Ebitda NOR 3Q25 Cost of services General and administrative expenses Financial result Income taxes Net income TAG 3Q25 96 12 (13) (56) 1,453 (77%) 263 (14%) 10 167 (9%) 1,253 (76%) 220 (13%) 1,250 (78%) (36) 1,442 (77%) 164 (10%) +13.8% +12.4% +10.5% 1,596 11 11 220 (13%) 1,763 1,871 277 1 182 (11%) (32) (29) 166 (9%) 1,654 3 1,882 263 (14%) 108 166 (9%) (16) 1,665 166 (9%) 181 (11%) 1,263 (76%) 1,430 (81%) 182 (11%) (69) Ebitda 3Q24 Non-recurring Adjusted Ebitda 3Q24 IFRS* adjustment Ebitda adjusted by trans./quota 3Q24 Operating and commercial performance Charges for power grid and connection Material and third-party services Other costs and operating expenses Transmission Equity income (TAG) Ebitda adjusted by trans./quota 3Q25 IFRS* adjustment Adjusted Ebitda 3Q25 Non-recurring Ebitda 3Q25 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 3Q25 ENGIE Brasil Energia S.A. 21 +12.2% +9.8% (79) 206 (83) 731 738 658 8 666 7 Net income 3Q24 Non-recurring Adjusted net income 3Q24 Adjusted Ebitda Income Taxes Financial result Depreciation and amortization Adjusted net Non-recurring income 3Q25 Net income 3Q25 Debt control, active management of debt costs and successful investment decisions ensure balanced levels of the Net Debt/Ebitda ratio. DEBT OVERVIEW (R$ MILLION) 24,442 508 24,534 20,905 18,150 3.3x 2.9x 2.6x 2.3x 2.1x 2.7x 3.2x 3.8x 29,668 4,626 Total Debt / Ebitda 3 (R$ million) 2022 2023 2024 3Q25 Cash and equivalents Escrow deposits Net Debt 3Q25 Notes: 1 Gross debt, net of hedge operations. 2 Adjusted Ebitda in the past 12 months. Local Currency Debt 1 Total Debt / LTM Adjusted Ebitda 2 Net Debt/ LTM Adjusted Ebitda 2 BREAKDOWN OF DEBT 58% IPCA 36% CDI 6% TJLP 3Q25: Nominal cost of debt: 12.0% p.a. (equivalent to IPCA + 6.4%) 3Q24: 10.3% p.a. - equiv. to IPCA + 5.6% MATURITY DEBT SCHEDULE (R$ MILLION) AAA rating and robust cash generation translate into competitive costs of debt for financing growth. 9,840 4,775 2,673 2,153 2,134 2,168 2,525 2,238 945 217 Average debt term: 7.2 years Oct to Dec 2025 2026 2027 2028 2029 2030 2031 to 2035 2036 to 2040 2041 to 2045 2046 to 2048 IPCA TJLP CDI Indexation of energy sales contracts mitigates exposure of debt to IPCA and cash position mitigates part of CDI exposure. ALLOCATED/EXPECTED CAPEX AND CORRESPONDING FINANCING RESOURCES (R$ MILLION) The expansion plan and maintenance CAPEX are supported by a strong cash flow generation and prudent funding strategy . 9,664 7,217 6,941 7,270 6,324 2,854 3,407 3,150 2,748 2,168 2021 2022 2023 2024 2025E 2026E 2027E Adjusted Ebitda Shareholders' equity funded Debt funded 1 (1,789) 598 2,336 814 2,809 3,917 4,643 7,367 5,747 Note: 1 Does not consider interests incurred during the construction. Results Presentation 3Q25 ENGIE Brasil Energia S.A. DIVIDENDS (BASED ON DISTRIBUTABLE NET INCOME) By-law minimum payout: 30% of distributable net income Management Commitment: minimum payout of 55% of distributable net income Frequency: biannual 3.32 2.79 2.45 2.47 2.50 2.34 2.33 1.82 3.7% 1.02 % % % 1.53 8.1% % % 100% 1 % 5.6% 5.6% 2.3% 100% 100% 100% 100% 100% 0.88 55% 57% 55% 55 5 % 55% 3.5 6.1 6.2 5.7 8.6 9.2 1 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1S25 Dividend per Share 2 (R$) Payout 3 Dividend Yield 4 Notes: 1 Payout equivalent to 100% of the distributable adjusted net income (ex-hydrological risk negotiation). 2 For the purposes of comparability between fiscal years, an adjustment in dividend per share was made in the light of the share bonus approved on December 07, 2018. 3 Considers the annual adjusted net income. 4 Based on volume-weighted closing price of ON shares in the period. 5 Payout equivalent to 55% of the distributable net income (excluding gains on partial disposal of investments in TAG). Results Presentation 3Q25 ENGIE Brasil Energia S.A. Attention : This is an excerpt of the original content. To continue reading it, access the original document here .

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