Light (LIGT3) investor relations material

Executive summary

• Net income reached BRL 368 million in H1 2025, reversing a prior year loss, driven by debt restructuring, financial gains from bond repurchase, and operational improvements.

• Cash position increased to BRL 3.2 billion, up BRL 87–90 million from December, despite higher investments.

• Judicial reorganization milestones completed, including debt restructuring and capital increase; next steps include concession renewal and private capital raise.

• Investments of BRL 700 million in grid expansion/modernization and BRL 100 million in IT to digitize operations.

• Focused on improving energy supply quality, customer service, and infrastructure modernization, with intensified field actions since last year.

Financial highlights

• Consolidated net revenues were BRL 3,456 million in Q2 2025 (-7.1% YoY); H1 2025 revenues grew 2.2% YoY to BRL 7,199 million.

• Adjusted EBITDA for H1 2025 was BRL 908 million (-16.3% YoY); generation and commercialization adjusted EBITDA reached BRL 242 million by June, excluding positive mark-to-market effects.

• Net debt reduced to BRL 4.4 billion, down 50–54% year-over-year.

• CAPEX in H1 2025 reached BRL 686 million, up 106% YoY, focused on expansion and maintenance.

• Energy sold by commercialization arm up 48% year-over-year to 760 MW average in H1.

Outlook and guidance

• Anticipates signing new concession contract, enabling final stages of restructuring, including capital increase and mandatory debt conversion.

• Continued focus on operational efficiency, quality of supply, and customer service, with ongoing investments in modernization and grid automation.