Centrais Elétricas de Santa Catarina (CLSC4) investor relations material

Executive summary

• Consolidated 6M26 net revenue was R$6.498bn (+10.6% YoY), EBITDA R$1.081bn (+8.8%) and net income R$546.8m (+36.3%).

• In 2Q26, net operating revenue rose 3.5% to R$3.00bn, EBITDA increased 23.3% to R$546.4m and net income nearly doubled to R$296.1m.

• Distribution drove most earnings, supported by tariff-related grid revenue, lower losses and improved other revenue; Generation also grew revenue and profit.

Financial highlights

• Consolidated 6M26 revenue excluding construction revenue was R$5.927bn; EBITDA was R$1.081bn versus R$993.4m in 6M25.

• 6M26 operating result increased 8.2% to R$874.1m; financial result remained negative at R$149.7m, narrowing 37.9% YoY.

• Consolidated operating costs and expenses rose 10.8% in 6M26 to R$5.65bn; revenue deductions increased 23.8%, including a R$472.2m increase in CDE charges.

• Adjusted for the R$83.2m voluntary separation program charge, 6M26 EBITDA was R$1.16bn (+16.4%) and adjusted net income was R$601.7m (+48.4%).

Outlook and guidance

• Distribution tariff review was scheduled for August 2026, assessing investments made from March 2021 through February 2026 for inclusion in the regulatory asset base.

• The BID II modernization and climate-resilience program is planned to start in 2027 over five years, with investment above US$305m, including US$243m of BID financing and US$62.6m in counterpart funding.

• Planned generation expansions include Caveiras, from 3.83 MW to 9.4 MW, and a 23 MW addition at Salto Weissbach.

• A planned investment cycle of ~R$5.4bn for 2023–2026 targets capacity expansion, substations and rural network replacement; generation projects total 112.78 MW of final capacity.