Light (LIGT3) investor relations material

Executive summary

• Distribution concession renewed for 30 years, ending uncertainty and supporting long-term stability, with recognition of company-specific characteristics.

• Net income surged to R$2.8 billion in 1Q26, mainly due to a one-off tax credit recognition tied to the concession renewal.

• Adjusted EBITDA fell 27% year-over-year to R$423 million, with Generation & Trading up 45.3% YoY and DisCo down 47.5% YoY.

• BRL 10 billion investment planned over five years, more than doubling recent years' levels, focused on network modernization and digitalization.

• Board approved a private capital increase of up to BRL 1.5 billion (minimum BRL 1 billion), aligned with the judicial reorganization plan.

Financial highlights

• Consolidated EBITDA for Q1 2026 was R$423 million, down 27% year-over-year; adjusted net income (excluding non-recurring items) was a loss of R$80 million.

• Net income for 1Q26 totaled R$2.8 billion, driven by one-off tax credits.

• Investments totaled R$349 million in 1Q26, up 18% year-over-year, focused on grid maintenance and expansion.

• Adjusted EBITDA for the distribution segment was R$247 million, down 47.5% YoY; Generation & Trading reached R$164 million, up 45.3% YoY.

• Energy market volume was 6,750 GWh, a 5.3% year-over-year decline due to milder temperatures and industrial slowdown.

Outlook and guidance

• Five-year CapEx plan of R$10 billion to modernize and digitize the network, about twice recent fiscal years.

• Private capital increase of up to R$1.5 billion planned within 90 days of concession renewal, with minimum R$1 billion subscription.

• Upon completion, consolidated net debt is expected to fall to approximately R$5.2 billion.

• Company expects to regain access to credit markets and re-leverage to support investment plan as judicial reorganization concludes.

• Next regulatory milestone is the 2027 periodic tariff review, expected to confirm the turnaround.