Engie Brasil Energia (EGIE3) investor relations material

Executive summary

• Net operating revenue grew 10.1% year-over-year in 2Q25, driven by portfolio management, transmission expansion, and higher energy sales volumes.

• Adjusted EBITDA for 2Q25 was R$1,866 million, down 4.4% year-over-year, mainly due to the absence of a prior year one-off indemnity; adjusted EBITDA margin was 60.5%.

• Adjusted net income fell 34.0% year-over-year to R$564 million, reflecting lower EBITDA, higher depreciation, and a weaker financial result.

• Major renewable projects advanced: Serra do Assuruá Wind Complex (846 MW) completed, Assú Sol Photovoltaic Complex (96% complete, 552.7 MW in operation) nearing full commissioning.

• Interim dividends of R$719.2 million (R$0.88/share) distributed, representing a 55% payout for 1H25.

Financial highlights

• Net operating revenue reached R$3,086 million in 2Q25, up 10.1% year-over-year; 6M25 revenue was R$6,100 million (+12.7% YoY).

• Adjusted EBITDA: R$1,866 million in 2Q25 (-4.4% YoY); 6M25 R$3,906 million (+3.7% YoY).

• Adjusted net income: R$564 million in 2Q25 (-34.0% YoY); 6M25 R$1,387 million (-15.8% YoY).

• Net debt: R$21,561 million at quarter-end, up 24.3% YoY; net debt/adjusted EBITDA at 2.9x.

• Average net sales price: R$217.0/MWh in 2Q25 (-1.6% YoY); energy sold up 4.8% YoY to 9,290 GWh.

Outlook and guidance

• Ongoing expansion in wind, solar, and transmission projects, with significant capacity additions expected through 2027.

• Assú Sol Photovoltaic Complex expected to be fully operational in 4Q25.

• Positive market outlook for natural gas transportation, with TAG planning over R$5.4 billion in investments over five years.

• Debt profile remains balanced, with an average term of 7 years and no currency exposure.

• Management maintains a minimum dividend payout commitment of 55% of distributable net income.