Eneva (ENEV3) investor relations material

Market context and energy landscape

• Brazil's energy system is increasingly reliant on intermittent renewables, with growing demand for dispatchable thermal capacity due to flat hydro capacity and rising consumption.

• Seasonality and intra-day intermittence in renewables create operational challenges, increasing the need for reliable thermal power to stabilize the grid.

• Capacity auctions and regulatory requirements are driving significant opportunities for thermal power expansion, with over 40 GW of additional capacity needed by 2035.

Business model and value proposition

• Operates a vertically integrated model, from E&P to power generation, with a robust portfolio of thermal plants totaling 10.1 GW capacity.

• Provides both on-grid and off-grid natural gas solutions, leveraging proprietary pipelines, regasification terminals, and SSLNG for industrial and transportation clients.

• Holds 46% of Brazil's onshore 2P gas reserves, with a strong exploration track record and access to significant prospective areas.

Growth avenues and project pipeline

• Expanding gas trading activities, with ramp-up in both on-grid and off-grid segments and new liquefaction capacity under construction.

• Developing new gas hubs in Ceará and Southeast regions, unlocking additional value and flexibility for future auctions and third-party sales.

• Strategic partnership to supply LNG for heavy-duty transportation, implementing Brazil's first green corridor and expanding fueling infrastructure.

• Monetization of Solimões Basin gas resources through new pipeline projects, supporting regional energy security and industrial development.