Notice to the Market - 4Q25 Earnings Release

Earnings Presentation 4Q25

MESSAGE FROM THE

Highlights of the Period

CONSOLIDATED

ADJUSTED

EBITDA

TOTAL INVESTMENT

R$418 million in 4Q25

(+7.2% YoY)

R$489 million in 4Q25 (+38.0% YoY)

CONTINGENCIES

OPERATION

Lowest position in the last 7 years and lowest intake volume in the last 9 years

Best TMA in 10 years in 2025 (-42.0% YoY)

CONSOLIDATED

DEBT

Net Debt / EBITDA LTM

at 3.13x

QUALITY

DEC and FEC within regulatory limits and with improved YoY

Note: TMA = portuguese for "emergency service time".

4

Cash and cash equivalents | Cash position allocated to a portfolio

concentrated on high-quality instruments

Cash and Cash Equivalents Position

(R$ million)

Rating A to AA

2%

98%

3,090

Consolidated position of cash and equivalents by instrument and rating

(R$ million)

2,642

1,747

1,513

1,385

626

Dec-24 Sep-25 Dec-25

Consolidated Light SESA

Increased constitution of CVA and increased investments determining cash dynamics in the period

Government bonds or AAA or AA+ rating

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.

5

DisCo Quality | Consistently advancing quality operation - best emergency

service time in 10 years

DEC

(LTM)

FEC

(LTM)

-3.1%

0.23x

7.06h

6.80h 6.80h 6.80h

6.80h

4.75x

4.50x 4.50x 4.50x 4.50x

6.10h

6.23h

6.09h

3.04x

2.85x

2.95x

2.97x

3.27x

4Q24 1Q25 2Q25 3Q25 4Q25

4Q24 1Q25 2Q25 3Q25 4Q25

DEC

ANEEL Regulatory Limit

FEC

ANEEL Regulatory Limit

Average Emergency Service Time

(minutes)

-60%

1,424

1,251

978

2022

2023

2024

2025

567

Incidents >24h

(%)

-13.9 pp

18.1%

15.1%

12.0%

4.2%

2022

2023

2024

2025

Best emergency service time (TMA) in the last 10 years

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

DisCo Market | Consumption contraction in the quarter is a consequence of

lower average temperatures

Energy Market

(GWh)

(1)

(2)

2024

Residential

Commercial

Industrial

Other

2025

2024

2025

Note: (1) The energy market excludes non-recurring items; (2) Compensated Distributed Generation (DG I) and simultaneous (DG I and II); (3) The other group considers utilities and other classes.

7

Energy Market + DG

-157 GWh | -2.4% YoY

(GWh)

-295 GWh | -4.7% YoY

6,337

(114)

(-6% YoY)

(39)

(-2% YoY)

(113)

(-9% YoY)

(30)

(-3% YoY)

6,041

6,665

6,508

Energy Market Energy Market + DG

(GWh) (GWh)

4Q24 Residential Commercial Industrial Other

(3)

4Q25

4Q24 4Q25

-691 GWh | -2.6%

-1,123 GWh | -4.4%

25,586

(-4% YoY)

(221)

(-3% YoY)

(216)

(-4% YoY)

(361)

(-20% YoY)

24,464

26,703 26,011

DisCo Energy Loss Combat | Non-Technical Losses remain stable

Non-technical Losses (NTL) (1)

(GWh; LTM)

22.6% 23.1% 23.0% 22.9% 23.3%

8,447 8,792 8,532 8,365 8,488

4Q24 1Q25 2Q25 3Q25 4Q25

CTA Risk Areas

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

8

DisCo CAPEX | Investments were concentrated on improving quality and expanding

Investments

(R$ million)

+93%

Investments in maintenance YoY in 4Q25 (+133% in 2025)

39k

Meters replaced and/or relocated outdoors in the quarter (150 thousand in the year)

R$1.6 billion

Invested in 2025 vs R$967 million for the full year 2024

Investments

(R$ million)

Non-electrical Assets

Loss reduction plan and Other

Expansion

Maintenance

458

1.602

325

112

319

316

84

99

967

185

56

98

208

403

102

336

150

558

78 239

4Q24

4Q25

2024

2025

+R$634 mn | +65.6% YoY

+R$139 mn | +43.7% YoY

Non-electrical Assets

Loss reduction plan and Other

Expansion

Maintenance

9

DisCo EBITDA | Highlights include improvement in expected bad debt (PECLD)

and contingencies, and continued workforce internalization

Adjusted EBITDA (1)

(R$ mn, quarter, ∆ QoQ)

R$96 mn | 42.5% YoY

(-28.1% YoY)

323

Contingencies: improvement in massive litigation, by reviewing processes, and adjusting the balance of provisions related to civil contingencies

226

(+8.0% YoY)

(30)

(+10.6%

YoY)

41

(-30.6% YoY)

Special Court Civil Court

Adjusted EBITDA 4Q24

Δ Gross

Margin

Δ PMSO Δ PECLD

(delinquency)

Adjusted EBITDA 4Q25

-11%

Reduction in the stock of lawsuits

(2025 vs 2024)

-10%

Reduction in the stock of lawsuits

(2025 vs 2024)

(R$ mn, year, ∆ YoY) -R$21 mn | -1.5% YoY

-22%

-39%

Δ Provision for

contingencies

1,420

7

(+0.2% YoY)

(+19.4%

YoY)

55

(-14.0% YoY)

(-33.8% YoY)

1,399

Reduction of new

claims

(2025 vs 2024)

Reduction of new

claims

(2025 vs 2024)

Adjusted EBITDA 2024

Δ Gross

Margin

Δ PMSO Δ PECLD

(delinquency)

Adjusted EBITDA 2025

Lowest position in the last 7 years and lowest intake volume in the last 9 years

Δ Provision for

contingencies

Increase in own headcount

(+41%A/A)

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

10

Generation and Trading EBITDA | Reduced sales volume combined with low GSF and

high short-term prices

Adjusted EBITDA(1)

(R$ mn, quarter, ∆ YoY)

-R$92 mn | -48.2% YoY

191

(-36.8% YoY)

(16)

(+78.2% YoY)

99

2

n/a

Adjusted EBITDA 4Q24

Δ Gross

Margin

Δ PMSO Δ Provision for

contingencies

Adjusted EBITDA 4Q25

Adjusted EBITDA

(R$ mn, year, ∆ YoY)

-R$251 mn | -36.1% YoY

695

(-28.8% YoY)

(36)

(56.0% YoY)

444

4

n/a

Adjusted EBITDA 2024

Δ Gross

• Main reduction driven by contract exits and deterioration in the GSF of the generation unit

• Net income of R$ 24 million in the quarter (-58.9% YoY) and R$ 317 million in the year (+36.9% YoY)

Margin

Δ PMSO Δ Provision for

contingencies

Adjusted EBITDA 2025

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

11

Q&A

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