Notice to the Market - 1Q26 Earnings Release

Earnings Presentation

1Q26

MESSAGE FROM THE CEO

Highlights of the Period

CONCESSION RENEWAL

Concession renewed for an additional 30 years, with recognition of the Concession Area's specific characteristics

CONSOLIDATED

RESULT

EBITDA of R$423 million (-27.0% YoY) and net income of R$2.8 billion in 1Q26

OPERATION

TMA hits a new record low in its

historical series (-37.5% YoY)

QUALITY

DEC and FEC within

regulatory limits

CONTINGENCIES

Continuity of the trajectory of the lowest stock and inflow volume in the last 9 years for 1Q

TOTAL

INVESTMENT

R$349 million in 1Q26

(+18% YoY)

‹ 4 ›

DisCo

1Q26

DisCo Market | Quarter's consumption reflects mild weather in 1Q26 and a stronger

comparative base from 1Q25

Energy Market

Average Temperature

(ºC)

-1.5ºC

1Q25

1Q26

• 2026: rainiest February in nearly 30 years

• 2025: hottest February and all-time demand record in the last 6 years

(GWh)

7,128

(122)

(88)

(-4.9% YoY)

(85)

6,750

(-4.1% YoY)

(84)

(-6.7% YoY)

(-11.8% YoY)

-378 GWh | -5.3% YoY

1Q25 Residential Commercial Industrial Other 1Q26

Note: The other group considers utilities and other classes.

‹ 5 ›

Light S.A. | 1Q26 Results Presentation

DisCo

1Q26

DisCo Quality and Operation | Operational resilience: new TMAE record, despite the

highest volume of emergency services ever recorded in a first quarter in the last 10 years

DEC

(LTM)

FEC

(LTM)

6.80h 6.80h 6.80h 6.80h

6.76h

4.50x 4.50x 4.50x 4.50x 4.46x

6.10h

6.23h

6.53h

6.74h

6.09h

2.95x

2.97x

3.27x

3.46x

1Q25 2Q25 3Q25 4Q25 1Q26

1Q25 2Q25 3Q25 4Q25 1Q26

DEC

ANEEL Regulatory Limit

FEC

ANEEL Regulatory Limit

Average Emergency Service Time

(minutes, LTM)

Interruptions >24h

(%, LTM)

-14.2 pp

18.1%

15.1%

12.0%

9.8%

3.9%

Quality indicators within regulatory limits

2022 2023 2024 1Q25 1Q26

-62%

1,424

1,251

978

861

2022 2023 2024 1Q25

1Q26

538

New all-time high in the

historical series

Note: DEC = Equivalent duration of interruptions in the supply of energy per consumer unit; FEC = Equivalent frequency of interruptions in the energy supply per consumer unit; (1) DEC/FEC values may undergo minor revisions within the calculation and closing period with ANEEL.

‹ 6 ›

Light S.A. | 1Q26 Results Presentation

DisCo

1Q26

DisCo Energy Loss Combat | Non-Technical Losses maintaining downward trajectory

with a 7.1% YoY decline and stable mix

Non-technical Losses (NTL)

(GWh; LTM)

23.1% 23.0% 22.9% 23.3% 22.9%

8,792 8,532 8,365 8,488 8,170

1Q25 2Q25 3Q25 4Q25 1Q26

CTA Risk Areas

Note: (1) Non-technical losses ex-REN, adjusted for non-recurring items.

‹ 7 ›

Light S.A. | 1Q26 Results Presentation

DisCo

1Q26

DisCo CAPEX | Investment volume growth in 1Q26 (+18.4% YoY) with a focus on

maintenance and expansion of the infrastructure

Maintenance investments YoY

+11% corr(R$1ect37 imnundergroundev ), focused on works

and LV

42

thousand

Meters replaced and/or

externalized in the quarter, with Loss Reduction Plan

+30.5% YoY

R$10

billion

Investment plan for the next 5

years, ~2x the level of recent fiscal years

Investments

(R$ million)

288

Non-electrical Assets

341

+R$53 mn | +18.4% YoY

Loss reduction plan and Other

Expansion

Maintenance

1Q25 1Q26

Light S.A. | 1Q26 Results Presentation

‹ 8 ›

DisCo

1Q26

DisCo EBITDA | Adjusted EBITDA of R$247 million in 1Q26 with PMSO reaching the

expected recurring level

• PMSO comparison stabilizing, reflecting the cost structure as of end-4Q25

• Increase in own headcount concentrated in field teams (74% of the total)

• Legal contingencies, with continuity of the improvement trajectory in case stock and new filings (-4.3% YoY)

Adjusted EBITDA

(R$ mn, quarter, ∆ YoY)

-R$224 mn | -47.5% YoY

471

(-14.5% YoY)

247

(+38.5% YoY)

(0)

(0.3% YoY)

3

(-4.3% YoY)

Adjusted EBITDA 1Q25

Δ Gross Margin

Δ PMSO Δ PECLD

(delinquency)

Δ Provision for contingencies

Adjusted EBITDA 1Q26

Note: 1) Adjusted EBITDA = CVM EBITDA, excluding VNR, other operating income/expenses, equity and non-recurring items.

‹ 9 ›

Light S.A. | 1Q26 Results Presentation

Generation & Trading

1Q26

Generation and Trading EBITDA | Adjusted EBITDA of R$164 million in 1Q26 (+45.3% YoY) supported by higher volume traded and margin capture in an environment of greater volatility

+40.6% YoY

Volume traded by Light COM

(1,026 MWavg)

+42.8% YoY

Adjusted gross margin (R$191 mn), capturing higher volume and attractive margins in an environment of PLD +94% YoY

R$ 54M

Net income impacted by the non-cash reversal of Light COM's MtM

Adjusted EBITDA

(R$ mn, quarter, ∆ YoY)

R$51 mn | 45.3% YoY

164

113

(6)

(27.8% YoY)

(0)

(42.8% YoY)

Adjusted EBITDA 1Q25

Δ Gross

Margin

Δ PMSO Δ Provision for

contingencies

Adjusted EBITDA 1Q26

Note: (1) Generation and Trading EBITDA excluding other operating revenues/expenses and mark-to-market effect of Light Com. contracts.

‹ 10 ›

Light S.A. | 1Q26 Results Presentation

1Q26

Consolidated

Capital Structure | Balanced capital structure: long-term debt aligned with the post-

renewal cash generation curve

Amortization Schedule of the Principal of the Non-Convertible Debt

(R$ million)

2,000

76

1,417

1,125

1,269

238

1,080 1,080 1,165 1,165

1,924

208

1,032

Net Debt

(R$ bn)

Cash '26 '27 '28 '29 '30 '31 '32 '33-37

Light SESA Light Energia Light SA

Proforma Debt by Index

1Q25 2Q25 3Q25 4Q25 1Q26

Light S.A. | 1Q26 Results Presentation

USD+3.5% 21%

CDI

23%

IPCA+4.23

56%

‹ 11 ›

Capital Increase | Concession Renewal unlocks the Company's capitalization measures,

which will enable the new investment cycle

Conditions

Private Capital Increase with

preemptive rights guaranteed to current shareholders

Amount

up to R$1.5 billion

(minimum of R$1 billion)

Issue price

R$6.29 / share

Additional

advantage warrants

Warrant exercise price

2 warrants : 1 share

subscribed under preemptive rights

R$0.01 / warrant

Lock-up

30 months with 5

release windows

Scheduled timeline

(D)

Renewal of the Distribution Concession

19/may

Cut-off date for holding preemptive rights

TBD

Unsubscribed Shares Round

14/may Approval of the Capital Increase

20/may to 18/jun Trading and exercise of preemptive rights

TBD

Ratification of the private Capital Increase at Board of Directors Meeting (RCA)

Q&A



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