Auren Energia (AURE3) Investor presentation summary

Market position and portfolio

• 3rd largest power generator in Brazil with 8.7 GW installed capacity, 100% renewable assets, and a leading energy trading platform.

• Portfolio diversified across hydro, wind, and solar, with major clusters in São Paulo, Bahia, Piauí, and Rio Grande do Norte.

• Highly contracted portfolio through 2028, with increasing exposure to market prices from 2029 onward.

• Minimal exposure to submarket risk and a balanced renewable mix mitigate generation seasonality.

Financial performance and capital allocation

• 2025 net revenue projected at R$13.2 billion and adjusted EBITDA at R$4.0 billion.

• Strong growth driven by disciplined capital allocation, M&A, and integration of AES Brasil and CESP.

• Over R$5 billion in gains from being highly contracted versus spot exposure in recent years.

• Dividend distributions and IRR of 32% since CESP acquisition, with payback in ~5 years.

Operational efficiency and integration

• Integration of AES Brasil completed in 10 months, capturing BRL 279 million in synergies, exceeding targets.

• Wind asset availability reached 95% ahead of schedule; liability management generated BRL 300 million in NPV.

• Zero-based budgeting implemented to further optimize costs and capture new synergies.