REN - Redes Energeticas Nacionais (RENE) Corporate Presentation summary

Strategic positioning and business overview

• Holds exclusive TSO status and is the largest natural gas DSO in Portugal, with international operations in Chile and stakes in Mozambique and Spain.

• Operates 9,439 km of electricity and 1,375 km of gas networks in Portugal, with significant EBITDA contributions from both domestic and international assets.

• 70-year track record as a leading energy infrastructure operator, with a history of strategic acquisitions and expansion.

• Focused on operational excellence, innovation, and technology to maintain high efficiency and reliability.

• Stable regulatory context with long-term contracts and fully regulated domestic business.

Financial performance and shareholder returns

• Maintains stable EBITDA and net income, supported by a robust regulatory framework and disciplined financial management.

• Delivered cumulative total shareholder return of 137.2% since IPO, outperforming EuroStoxx Utilities and PSI20.

• Stable and attractive dividend per share, with a policy to increase dividends at a 2% CAGR until 2027.

• Balanced credit profile with investment grade ratings from S&P, Fitch, and Moody's, and a low average cost of debt.

• Over €4 billion invested in Portuguese infrastructure since 2005, with ~95% of payments to national suppliers.

Operational excellence and innovation

• Among the most efficient TSOs globally, with service levels and costs outperforming international peers.

• Zero minutes of gas supply interruption and 0.39 minutes of electricity interruption in 2023.

• 33 R&D and innovation projects underway in 2023, with €1.5M invested in innovation.

• Key projects include fiber optic sensing for gas pipelines, robotic cleaning, and drone-based monitoring.

• Strong IT and telecom infrastructure, leveraging 8,106 km of optical fiber and multiple data centers.