ISA Energía Brasil (ISAE4) Investor presentation summary

Offering summary and structure

• Follow-on offering of 22,222,222 preferential shares, targeting R$650 million, with international sales under Rule 144A/Reg S and a 90-day lock-up for key stakeholders.

• Key dates: launch on July 15, 2026, pricing on July 23, 2026, and settlement on July 28, 2026.

• Controlling shareholder intends to maintain its 35.81% equity interest by participating in the priority offering.

• Bookrunners include BTG Pactual, Bank of America, Bradesco BBI, and Itaú BBA.

Business profile and portfolio

• Operates 34 concessions across 18 Brazilian states, with a transmission network of ~23,000 km and 137 substations.

• Third largest transmission company by allowed annual revenue, with ~11% market share in the 2025/26 cycle.

• EBITDA for 1Q26 LTM reached R$4.5 billion; market cap as of July 1, 2026, was R$20 billion.

• Portfolio includes both operational and pre-operational assets, with a focus on organic and inorganic growth.

Financial and operational highlights

• Revenues are fully remunerated by availability, insulated from default, volume, or energy price risks.

• Demonstrated recurring revenue growth and resilience across economic cycles.

• Strong track record of delivering projects ahead of schedule and below regulatory cost benchmarks.

• Consistent payout policy, distributing at least 75% of regulatory net income, with dividend yields historically above benchmarks.