Slides
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RESULTS 2Q26 מים * COPEL Pura Energia Photo : Caxias Hydroelectric Plant
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COPEL | Q2 2026 | Business Overview 2 COPEL | 2T26 | Visão Geral dos Negócios 2 Disclaimer Any statements made during this conference call regarding Copel’s business outlook, projections, and operational and financial targets are based on the beliefs and assumptions of the Company’s management, as well as on information currently available. Forward-looking statements are not guarantees of performance: they involve risks, uncertainties, and assumptions, as they refer to future events and, therefore, depend on circumstances that may or may not occur. General economic conditions, industry conditions, and other operational factors may affect Copel’s future performance and may lead to results that differ materially from those expressed in such forward-looking statements. COPEL | 2Q26 | Business Overview
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COPEL | Q2 2026 | Business Overview 3 Business Overview Daniel Slaviero - CEO
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COPEL | Q2 2026 | Business Overview 4 COPEL | 21T26 | Visão Geral dos Negócios 4 2Q26 Highlights Operational and Commercial Performance Billed grid market from DisCo +7.2% 4 R$ 1,612.6 million, +20.8% vs. 2Q25 Recurring Ebitda R$ 645.1 mm, +42.6% vs. 2Q25 Recurring Net Income Capex in 2Q26 R$ 957.2 mm 2.9x leverage net debt/Ebitda as of June 30, 2026 aligned with the new parameters of the optimal capital structure Indebtedness: Financial Results Shareholder Returns R$ 706 million (R$ 0.2377 per share), to be paid on September 30, 2026 Interest on Equity (fiscal year 2026) R$ 1.35 billion, paid on June 30, 2026 Dividend payments announced in Dec. 2025 Effective business strategy: Revenue from hydraulic modulation (~R$ 52 mm) and submarket: (~R$ 23 mm) COPEL | 2Q26 | Business Overview RTP 2026: Success in the 6th-cycle rate review. RAB reaches R$ 19.9 billion
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COPEL | Q2 2026 | Business Overview 5 Status: Confirmed (NOAA, June 2026) Intensity: 81% probability of a Strong- intensity event Expected Duration: Through the 1st Quarter of 2027 El Niño: opportunities and challenges in integrated operations North (Oct–Mar) Water Deficit: Precipitation below the climatological average. Severe impact on run-of- river power plants. South (Aug–Nov) High inflows: Increased frequency and volume of rainfall, particularly in the Southern and Paranapanema basins. Potential for severe rainfall events. Northeast (Aug–Oct) Increased wind power generation: Dry weather favors generation, though intense gusts may cause operational disruptions. Risk of transmission constraints between subsystems. Southeast and Midwest (Sept. – Mar.) Increase in load: Atmospheric blockages raise temperatures, causing an increase in load. Temporary downward trend driven by improved inflows from the South and Southeast, with no significant impact from 2028 onward. Scenarios of sharp price spikes driven by an abrupt need for power during heat waves. Beneficial for hydroelectric generation. 180 200 220 240 260 280 300 320 04/mai 11/mai 18/mai 25/mai 01/jun 08/jun 15/jun 22/jun 29/jun 06/jul 13/jul 20/jul 27/jul 2nd Semester/2026 Dcide curve (R$/MWh) Hourly Prices (Short-Term/MCP) v v v v COPEL | 2Q26 | 2Q26 Results DisCo’s Preparedness Plan We have a highly integrated management strategy to address this climate phenomenon. Its success does not depend on a single, isolated action, but rather on the synergy between existing infrastructure, maintenance, logistics, and preventive contingency planning.
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COPEL | Q2 2026 | Business Overview 6 3rd Wave: asset expansion with financial discipline Capital Structure1 Segredo Hydroelectric Plant 1,260 MW + 1,266 MW Foz Do Areia Hydroelectric Plant 1,676 MW + 860 MW Dividend Policy2 New Target: Financial leverage set at 2.9x (Net Debt/Ebitda), compared to the previous 2.8x. Tolerance Range:2.6x to 3.2x (corresponding to +/- 0.3x of the new target). Convergence Period: Extended from 24 to up to 48 months to reach the midpoint of the range. Change: Parameters updated in line with the optimal structure All the other assumptions remain unchanged: Minimum Payout: Distribution of at least 75% of net income for the fiscal year. Frequency: Payments made at least twice a year. Approval of the Reserve Capacity Auction reinforces the implementation of the long-term strategy aligned with the capital structure New leverage and earnings distribution parameters Existing tunnels COPEL | 2Q26 | 2Q26 Results
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COPEL | Q2 2026 | Business Overview 7
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COPEL | Q2 2026 | Business Overview 8 2Q26 Results Felipe Gutterres - CFO
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COPEL | Q2 2026 | Business Overview 9 Consolidated recurring Ebitda rises 20.8% Ι Breakdown (R$ million) Ι Change (R$ million) DisCo’s Ebitda +34.5% R$ 196.3 million higher vs. 2Q25 GenCo’s Ebitda +10.1% R$ 76.8 mm higher vs. 2Q25 *Other adjustments: MTM and IFRS effect on transmission companies. *Includes Copel Serviços and Elejor’s Ebitda. COPEL | 2Q26 | 2Q26 Results 9 Holding -23.3% R$ 8.7 million loss compared to 2Q25 T radeCo’sEbitda +17.0% R$ 3.1 mm higher vs. 2Q25 Elejor’s Ebitda +70.8% R$ 12.1 million higher vs. 2Q25 Driven by Operational Performance and Cost Efficiency
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COPEL | Q2 2026 | Business Overview 10 GenCo Ι Recurring Ebitda (R$ million) Ι Recurring PMSO (R$ million) Electricity Costs: -R$ 6.4 million GSF 99.6% 2Q26 vs. 95.5% 2Q25 +R$ 85.1 mm in the ACL Price: +6.4% Volume: -7.8% Electricity Grid Availability: +R$ 70.2 million Reduction of R$ 35.2 million in net income from short- term market transactions Increased wind generation deviation: -R$ 34.8 mm Curtailment: 23.7% in 2Q26 vs. 15.7% in 2Q25 -R$ 13.7 mm (-6.3%) decline in PMSO Ebitda grows 10.1%, driven by higher average electricity sales prices and a favorable hydrological scenario COPEL | 2Q26 | 2Q26 Results * Excludes profit sharing (PLR), Performance based bonus (PPD) and Long-term incentives (ILP)
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COPEL | Q2 2026 | Business Overview 11 DisCo Ι Recurring Ebitda Market Growth and cost management drive 34.5% increase in Ebitda (R$ million) Ι Billed grid market (GWh) Ι Recurring PMSO (R$ million) Rate adjustment for Part B of +1.3% (ATA/2025) 0.4% reduction in Recurring Manageable Costs (PMSO) Growth of +7.2% in billed grid market COPEL | 2Q26 | 2Q26 Results * Excludes profit sharing (PLR), Performance based bonus (PPD) and Long-term incentives (ILP)
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COPEL | Q2 2026 | Business Overview 12 Commercial Strategy Drivers of the Company’s Results Ι Energy Mix (Hydro¹ + Wind) (P-MIX (R$/MWh)) Availability 2026 2027 2028 2029– 2030 Hydro (%)1 20% 28% 44% 78% 198.99 204.88 207.96 224.70 Revenue from water modulation and submarket R$ 74.6 mm Sale of +319% for 2026-2028 with P-MIX +6% (vs. 1Q26 in the hydropower portfolio) Reduced delinquency 0.01% Active portfolio management, focused on capturing market opportunities Ι Commercial performance – Focus on more targeted negotiations for 2027 – Low credit risk from trading on the free market – Leveraging favorable seasonal conditions: modulation and submarkets – Long-term availability targeting market opportunities during upturns and serving as a natural hedge COPEL | 2Q26 | 2Q26 Results 1 Does not include: (i) GPS CCGF (Quotas) (73 MWavg); and (ii) 96% for the Mauá Hydroelectric Plant (or 184 MWavg) and its contracts, the insured value of GSF variations.
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COPEL | Q2 2026 | Business Overview 13 Execution discipline: optimized PMSO aligned with the pursuit of efficiency Ι Recurring PMSO Change (R$ million) +24.7% (R$ 5.4 mm) in Material costs and O&M +3.7% (R$ 10.3 mm) in Third-Party Services +4.3% (R$ 12.9 mm) Staff/Management, including Social Security and Benefits -32.7% (R$ 35.1 mm) in Other, substantially due to a decrease in losses from asset decommissioning at DisCo and in the collection rate COPEL | 2Q26 | 2Q26 Results
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COPEL | Q2 2026 | Business Overview 14 Recurring Net Income Ι Recurring Net Income Strong Value Creation in 2Q26: Net Income driven by operational performance and a decline in the effective income tax rate (R$ million) Ι Change (R$ million) Improved operational performance and cost efficiency | Ebitda +20.8% Lower effective income tax rate -R$ 251.4 million in financial results due to increased debt | reflects investment in assets to improve efficiency and regulatory revenue COPEL | 2Q26 | 2Q26 Results
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COPEL | Q2 2026 | Business Overview 15 Investments Ι Consolidated Capex 2Q26 Capex: plan execution and focus on quality returns (R$ million) Ι Capex by Segment in 2Q26 *Excludes investment in asset swap * * *Includes investments in LRCAP of approximately R$ 318mm
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COPEL | Q2 2026 | Business Overview 16 Indebtedness Ι Leverage Comfortable leverage in line with the new parameters of the optimal capital structure (R$ million) Ι Debt Composition and indexers *Excludes equity equivalents, considers discontinued operations, and excludes the effects of impairment, early retirement severance pay, mark-to-market (MTM), GSF renegotiation, losses on asset decommissioning and gains on asset disposals/swap. Nominal cost of debt Jun/26: 12.92% p.a. (equivalent to 91.33% of CDI) Jun/25: 13.54% p.a. (equivalent to 90.88% of CDI) COPEL | 2Q26 | 2Q26 Results
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COPEL | Q2 2026 | Business Overview 17 COPEL | 21T26 | Visão Geral dos Negócios 17 Q&A Londrina Photographer: Rodrigo Gaion COPEL | 2Q26 | Business Overview
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COPEL | Q2 2026 | Business Overview 18 INVESTOR RELATIONS ri@copel.com | ri.copel.com (41) 3331-4011 www.copel.com /copel /company/copel