Notice to the Market - 3Q25 Earnings Release

Highlights

CASH POSITION

R$ 2.64 billion

LOSSES

Non-technical losses over grid load at 22.8% (vs. 23.1% in 3Q24)

TOTAL INVESTMENTS

R$ 472 million in 3Q25 (+60% YoY)

QUALITY

DEC and FEC within Aneel regulatory limits and improving

DEBT

Net Debt / EBITDA

12 months at 2.89x

4

LIGHT CONSOLIDATED

Cash & Equivalents | Solid cash position despite higher investments and the impact of

regulatory asset constitution (CVA)

Cash and cash equivalents

(R$ million)

Cash and cash equivalents by product and

rating

(R$ million)

2,642

2,399

1,513

1,385

959

3,090

Rating A or higher

15%

set/24

dez/24

set/25

Sep/24 Dec/24 Sep/25

Consolidated Light SESA

85%

Govn. debt + Rating AAA or AA+

Note: The Company has a cash application policy approved by the Board of Directors, which takes into account criteria such as: (i) rating and net equity of the financial institution; (ii) maximum percentage exposure per institution; and (iii) maximum proportionality according to the institution's net equity. The securities portfolio of the Company and its subsidiaries consists of CDBs, financial bills, and Exclusive Investment Funds with daily liquidity..

LIGHT DISCO

DisCo Quality| Focus on the quality of the operation driving consistent improvements

3Q25

DEC(1)

(hours)

FEC(1)

(x)

-16.2%

-0.22x

7.06h

7.06h

6.80h 6.80h 6.80h

4.75x 4.75x

4.50x

4.50x 4.50x

7.27h

6.74h

6.10h

6.23h

6.09h

3.19x 3.04x

2.85x

2.95x 2.97x

3Q24

4Q24

DEC

1Q25 2Q25

3Q25

3Q24 4Q24 1Q25 2Q25 3Q25

ANEEL Regulatory Limit

FEC

ANEEL Regulatory Limit

Average Emergency Service Time

-54%

1,4241,364

1,2511,206

978 936

648 641

-12 p.p.

18%

15% 15%

12%

12%

10%

6%

3%

(minutos)

Incidents lasting over 24 hours

(% sobre o total)

Set/25 (12m)

Set/25 (12m)

Nota: (1) DEC/FEC values may undergo minor revisions within the calculation and closing period with ANEEL. 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.

ASRO = Areas of Severe Operational Restriction

LIGHT DISCO

DisCo Energy Market | Consumption contraction in the quarter reflecting the coldest winter

in the last 19 years in the concession area

Energy Market (1)

(GWh)

Energy Market + DG(2)

(GWh)

-307 GWh | -5.3% YoY

5,787

(111)

(82)

-6.2% YoY

(90)

-4.9% YoY

(24)

-2.3% YoY

5,480

-6.7% YoY

3Q24 Residential

Commercial

Industrial

Other*

3Q25

-251 GWh

-4.1% YoY

6,062

5,810

3Q24

3Q25

3T24

3T25

3T24

3T25

Residencial

Comercial

Demais*

Notas

(1) The energy market excludes non-recurring items; (2) Compensated Distributed Generation (DG I) and simultaneous (DG I and II). (*) The other group considers dealerships and other classes.

LIGHT DISCO

DisCo Energy Loss Combat | Reduction of 366 GWh in Non-Technical Loss in the last 12

months ended Sep/25

3Q25

Non-Technical Losses - NTL(1) and percentage over grid load

(GWh; %)

-0.23 p.p.

23.1% 22.6% 23.1% 22.9% 22.8%

Pillars of the strategy to combat losses

• Investments in infrastructure modernization

• Intensification of cut/reconnect actions and recurrent sustaining

• Registration update and mass re-registration

  Externalize meters

• Frontier measurement with greater granularity

  PNT / grid load at CTA 6.4%

3T24 4T24 1T25 2T25 3T25

CTA - Conventional Treatment Areas Risk Areas

300k

Actions to externalize

meters by 2030

4k

Frontier meters (regional, risk areas, substations, feeders) by 2026

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

LIGHT DISTRIBUIDORA

DisCo CAPEX | Investments in the quarter concentrated on quality improvement and

preventive actions, mainly in low voltage (LV) infrastructure

Investments

79

100

265

457

+R$ 192M | +73% YoY

(R$ million)

3T24

3T25

3Q24 3Q25

+150%

Investments in

Ativos Não

Elétricos

Non-electric assets

Loss combat plan & other

maintenance YoY

Plano de

Perdas e outros

78k

Expansão

Expansion

Meters replaced and/or externalized in the quarter

Manutenção

Maintenance

R$1.2 billion

Invested in 9M25 vs R$967 million for the full year 2024

LIGHT DISCO

DisCo EBITDA | Improvement in PECLD and contingencies in the quarter, while the PMSO

remains pressured by quality focused efforts

• PECLD on Gross Revenue (12 months) at 2.1% (vs 2.5% in Sep/24)

• PMSO mainly impacted by the increase in field-focused teams (own and third-party teams focused on improving quality

• Contingencies positively impacted by process review and adjustment in the balance of provisions related to lawyer's success fees

Adjusted EBITDA(1)

(R$ million)

-R$ 37M | -8.3% YoY

439

402

12

Adjusted

EBITDA

3Q24

Δ Gross

Margin

Δ PMSO

Δ PECLD

(delinquency)

Adjusted

EBITDA

3Q25

Δ Provision for

contingencies

Special Court Civil Court

-8%

Reduction in the stock of lawsuits

(Sep/25 vs Sep/24)

-21%

Reduction of new

demands

(9M25 vs 9M24)

-8%

Reduction in the stock of lawsuits

(sep/25 vs Sep/24)

-40%

Reduction of new

demands

(9M25 vs 9M24)

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

LIGHT GENERATION AND TRADING

Generation and Trading EBITDA | Sales growth and increase in the average resale price at

the Trading bussiness offset by the impact of the GSF on the Generator's costs

• Traded volume grew 42% YoY, reaching 1,138 MWmed in the quarter

• GSF approximately 10 p.p. below last year over

3Q25

Adjusted EBITDA(1)

(R$ million)

-R$ 58 M | -36.1% YoY

• Net income of R$ 21 million in the quarter

• Contracting, in July/25, of a hedge for the remaining balance of Light Energia's foreign currency debt maturing in June/2026 (bonds) in the amount of USD 159 million.

161

(8)

2

103

Adjusted EBITDA 3Q24

Δ Gross Margin Δ PMSO Δ Provisions for

Contingencies

Adjusted EBITDA 3Q25

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

Next Steps | Private capital increase and conversion of convertible debt

LIGHT CONSOLIDATED

Signing of Light SESA's New Concession Agreement

Private Capital Increase of up to R$ 1.5 billion

Conversion of convertible debt (Local and international)

90 days from the date of signing of the new concession agreement with the Distributor for the execution of the last two stages of the Judicial Reorganization Plan, in accordance with the terms and conditions described in clauses 4 and 5.

ri@light.com.br