Earnings release
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EARNINGS RELEASE 3Q25 1 ENERGISA GROUP GRUPO ENERGISA S/A RESULTS FOR THE 3RD QUARTER OF 2025 Cataguases, November 06, 2025 – The management of Energisa S/A (“Energisa” or “Company”) hereby presents its results for the third quarter (3Q25) and first nine months (9M25) of 2025. Amounts are stated in thousands of Brazilian Reais (R$ ‘000) and the following financial information h as been prepared and is being presented in accordance with accounting practices adopted in Brazil and International Financial Reporting Standards (“IFRS” issued by the International Accounting Standards Board (“IASB”), comprising the standards issued by th e Brazilian Securities Commission (“CVM”) and the pronouncements, instructions and interpretations issued by the Accounting Pronouncement Committee (“CPC”) and when applicable the regulations of the regulatory agency, the National Electricity Regulatory Ag ency– ANEEL, unless stated otherwise. ➢ Energisa Consolidated : Consolidated recurrent adjusted EBITDA amounted to R$ 2,071.0 million in 3Q25, an increase of 16.9% (R$ 299.4 million) on 3Q24. The recurring adjusted net income was R$ 427.6 million in 3Q25 (-13.6%). ➢ Electricity Distribution : The combined recurrent adjusted EBITDA rose 13.8% compared to 3Q24, totaling R$ 1,776.6 million. Energy sales (captive market + TUSD + DG II/III offset energy) without unbilled sales grew by 2.0% compared to 3Q24, to 10,515.7 GWh. If unbilled sales are taken into account, the growth was 1.1% in the quarter. ➢ Electricity Transmission: Regulatory EBITDA rose 28.6% to R$ 168.6 million. The Regulatory EBITDA margin reached 83.2%, up by 7.1 pp compared to 3Q24, reflecting a significant reduction in PMSO ( -25.6%) and an increase in net regulatory operating revenue (+17.6%) due to the rate adjustment of the Annual Permitted Revenue (RAP) for the 2025/2026 rate -setting round and the start -up of new assets. ➢ Natural Gas Distribution: ES Gás reported a gross margin of R$ 80.4 million , a 17.3% increase compared to 3Q24, driven by higher volume and and adjustment of the average distribution margin after the ordinary review . Additionally, when excluding the effect of the OGP (Overrun Gas Price ), which impacted only 3Q24, the gross margin would have increased by 32.1% (+R$ 19.6 million). Norgás posted equity income of R$ 25.4 million in 3Q25. ➢ (re) energisa: In the distributed generation segment, in 3Q25, EBITDA grew by 24.3% compared to 3Q24, with the addition of 7 plants to the portfolio, totaling 125 solar PV plants (UFVs) in operation and 467.1 MWp of installed capacity. ➢ In 3Q25, Energisa Group's P&L is affected by the following non-recurring and/or non -cash effects: Items impacting EBITDA in the quarter: • Mark-to-market ECOM: R$ 10.5 million positive non -cash effect related to the mark -to-market of Energisa Comercializadora's portfolio, impacting the quarter; Items impacting Profit: • Mark-to-market EPM and EPNE Call : R$ 86.1 million positive effect, due to the mark -to-market of the call option over the subsidiaries EPM and EPNE's shares;
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EARNINGS RELEASE 3Q25 2 ENERGISA GROUP Description Quarter Accumulated 3Q25 3Q24 Change % 9M25 9M24 Change % Financial Indicators - R$ million Revenues 12,640.9 11,717.4 + 7.9 35,659.9 33,627.8 + 6.0 Adjusted net revenue (1) 7,631.6 7,001.3 + 9,0 21,463.9 19,761.0 + 8.6 PMSO 934.6 909.1 + 2.8 2,719.7 2,719.6 + 0.0 EBITDA 2,192.3 1,875.7 + 16.9 6,765.8 6,178.0 + 9.5 Recurrent Adjusted EBITDA (2) 2,071.0 1,771.6 + 16.9 5,872.1 5,575.7 + 5.3 Covenants Adjusted EBITDA (3) 2,301.4 1,983.6 + 16.0 7,096.1 6,499.7 + 9.2 EBITDA Margin (%) 23.9 21.9 + 2.0 p.p. 25.9 25.6 + 0.3 p.p. Finance income/loss (784.1) (498.4) + 57.3 (2,460.4) (1,545.9) + 59.2 Consolidated net income (4) 648.4 727.1 - 10.8 2,164.9 2,517.1 - 14.0 Consolidated recurrent adjusted net income (5) 427.6 495.1 - 13.6 1,258.5 1,564.4 - 19.6 Net income of parent company 438.5 552.9 - 20.7 1,471.5 1,960.7 - 24.9 Investments 1,819.5 1,827.3 - 0.4 4,751.5 4,756.0 -0.1% Net indebtedness (6) 29,199.5 23,707.0 + 23.2 Net debt/Adjusted EBITDA covenants 12 months 3.2 x 2.8 x 1) Consolidated net revenue less VNR and construction revenue of DisCos, corporate transmission revenue plus regulatory trans mission revenue; 2) EBITDA discounted from the distribution VNR and corporate transmission EBITDA and nonrecurrent and noncash effe cts and addition of the transmission regulatory EBITDA; 3) EBITDA plus arrears surcharge revenue; 4) Net income before noncontrolling interest; 5) Net income discounted from the dis tribution VNR and corporate transmission net income and nonrecurrent and no ncash effects and addition of the transmission regulatory net income. 6) Includes sector credits (CDE, CCC, CVA).
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3 ENERGISA GROUP EARNINGS RELEASE 3Q25 Contents 1. CO R POR A TE STR U CTU R E A ND PRO FIL E ................................ ................................ ................................ ................................ .... 5 1.1. Corporate Structure of Energisa Group .................................................................................................................................. 6 2. ENER GISA CO NSO L ID A TED ................................ ................................ ................................ ................................ ............................. 7 2.1 Net operating revenue ................................................................................................................................................................... 7 2.2 Manageable operating costs and expenses .......................................................................................................................... 8 2.3 EBITDA ...............................................................................................................................................................................................10 2.4 Finance income/loss .....................................................................................................................................................................11 2.5 Net income for the period ..........................................................................................................................................................12 2.6 Capital structure ............................................................................................................................................................................13 2.6.1 Financing operations ....................................................................................................................................................13 2.6.2 Noncontrolling interests call options ....................................................................................................................13 2.6.3 Cash and debt .................................................................................................................................................................13 2.6.4 Cost and average debt tenor .....................................................................................................................................15 2.6.5 Debt repayment schedule ..........................................................................................................................................15 2.7 Ratings ...............................................................................................................................................................................................16 2.8 Investments ......................................................................................................................................................................................16 2.9 Cash flow ..........................................................................................................................................................................................16 2.10 Capital market ................................................................................................................................................................................17 3. EL ECTR ICITY D ISTR IB U TIO N ................................ ................................ ................................ ................................ ......................... 17 3.1 Operating revenue .........................................................................................................................................................................17 3.1.1 Gross margin ...................................................................................................................................................................18 3.1.2 Energy sales ....................................................................................................................................................................19 3.1.3 Consumption by sector ................................................................................................................................................20 3.1.4 Electricity losses ...........................................................................................................................................................21 3.1.5 Delinquency management ..........................................................................................................................................22 3.1.5.1 Collection fee ..................................................................................................................................................................22 3.1.5.2 Delinquency rate ............................................................................................................................................................23 3.1.5.3 Service quality indicators for distribution services - DEC and FEC ...........................................................24 3.1.6 Compensation account for Parcel A amounts (CVA) .......................................................................................25 3.1.7 Overcontracting .............................................................................................................................................................26 3.1.8 Rate tiers ..........................................................................................................................................................................26 3.1.9 Rate reviews and adjustments .................................................................................................................................26 3.1.10 Regulatory remuneration base ................................................................................................................................26 3.1.11 Parcel B.............................................................................................................................................................................27 3.2 Operating costs and expenses ..................................................................................................................................................28 3.2.1 Non-Manageable operating costs and expenses ...............................................................................................28 3.2.2 Manageable operating costs and expenses .........................................................................................................28 3.2.3 Other operating expenses ..........................................................................................................................................29 3.3 EBITDA ...............................................................................................................................................................................................30 3.4 Net income for the period ..........................................................................................................................................................31 4. TR A NSMISSIO N ................................ ................................ ................................ ................................ ................................ .................. 32 4.1 Consolidated economic and financial results - Corporate vs. Regulatory ...............................................................32 5. (R E)ENER GISA ................................ ................................ ................................ ................................ ................................ ................... 33 5.1 Distributed generation .................................................................................................................................................................33 5.2 Electricity marketing ....................................................................................................................................................................35 5.3 Added value services ....................................................................................................................................................................36 6. CENTR A L IZED G ENER A TIO N ................................ ................................ ................................ ................................ ......................... 37
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4 ENERGISA GROUP EARNINGS RELEASE 3Q25 7. NA TU R AL GA S D ISTR IB U TIO N ................................ ................................ ................................ ................................ ...................... 37 7.1 Overview ...........................................................................................................................................................................................37 7.2 Summary of direct and indirect interests .............................................................................................................................38 7.3 Financial Information ...................................................................................................................................................................38 8. FO L LO WING U P O N THE CO MPA NY’S PR OJECTIO NS ................................ ................................ ................................ ........... 40 9. SU B SEQ U ENT EVENTS ................................ ................................ ................................ ................................ ................................ .... 40 A PPEND IX I – SU PPL EMENTA R Y INFO R MA TIO N ................................ ................................ ................................ ............................. 42 A.1 Companies by business line .......................................................................................................................................................42 A.2 Net operating revenue - Consolidated ..................................................................................................................................43 A.3 EBITDA by company ......................................................................................................................................................................44 A.4 Profit (loss) per company ...........................................................................................................................................................45 A.5 Mirror debentures .........................................................................................................................................................................46 A.6 Investment by company ...............................................................................................................................................................49 A PPEND IX II - FINA NCIA L STA TEME NTS ................................ ................................ ................................ ................................ ........... 51 1. Statement of financial position - assets ...............................................................................................................................51 2. Statement of financial position - liabilities ..........................................................................................................................52 3. Statement of profit or loss ...........................................................................................................................................................53 4. Statement of cash flows ..............................................................................................................................................................54 Representatio n by the Officers of Energisa S.A. (“Com pany) on the Financ ial Statem ents for the period January 01 to Septe m ber 30, 2025 ................................ ................................ ................................ ................................ ........................ 55 R epresentation by the O ffic ers of Energisa S.A. (“Co m pany”) on the Indep ende nt A uditors' R eport ........................... 56 B oard of Directors ................................ ................................ ................................ ................................ ................................ ...................... 57 Ex ec utive B oard ................................ ................................ ................................ ................................ ................................ .......................... 58
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5 ENERGISA GROUP EARNINGS RELEASE 3Q25 1. CORPORATE STRUCTURE AND PROFILE Energisa Group completed 120 years on February 26, 2025, and has more than 17,000 direct employees who serve over 9.3 million electricity and natural gas customers. We offer the market a complete ecosystem of innovative energy solutions to meet the needs o f all customer profiles around Brazil. Energisa Group operates in the following segments: Electricity distribution: The Company controls 9 DisCos located in the states of Minas Gerais, Sergipe, Paraíba, Rio de Janeiro, Mato Grosso, Mato Grosso do Sul, Tocantins, São Paulo, Paraná, Acre and Rondônia, with a concession area embracing 2,035 thousand Km 2, equal to 24% of Brazil’s landmass, serving roughly 8.9 million consumers. (re) energisa: The group's brand tasked with managing and trading energy and gas in the free market, providing value-added services and distributed generation of renewable energy sources. Electricity transmission: This sector totals 13 transmission concessions, of which 10 are operational assets and 3 are under construction, with approximately 3,508 km of transmission lines and 14,454 MVA of transformation capacity. Centralized generation : Two photovoltaic plants totaling 70 MWp, all of which is marketed in the free market. Natural gas distribution: ES Gás is responsible for distributing piped natural gas in Espírito Santo state, serving various sectors, including residential, commercial, industrial, automotive, climate control, cogeneration and thermoelectric generation, serving a total of 90,377 cli ents. Energisa also holds indirect equity interests in the following natural gas distribution companies: Gás de Alagoas (Algás), Companhia de Gás do Ceará (Cegás), Companhia Pernambucana de Gás (Copergás) and Companhia Potiguar de Gás (Potigás) in the states of Alagoas, Ceará, Pernambuco and Rio Grande do Norte. These DisCos serve a total of 259,164 customers. Biosoluções: The construction of AGRIC's plant for biomethane production and the expansion of its biofertilizer production capacity in Campos Novos (SC) is underway. The portfolio includes biomethane, organic fertilizers, and the treatment of organic waste from industrial sources. Additionally, the Group acquired a majority stake in Lurean, which operates in waste treatment and the commercialization of organic fertilizer in Paraná, and where the Group's second biomethane production plant will be built. In addition to pr omoting the circular economy by valorizing waste, these projects will contribute to the reduction of greenhouse gas emissions . (*) Following a decision by the Supreme Federal Court on October 06, 2023, the state of Mato Grosso now has 142 municipalities. T he district of Sorriso, Boa Esperança, is now called the municipality of Boa Esperança do Norte.
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6 ENERGISA GROUP EARNINGS RELEASE 3Q25 1.1. Corporate Structure of Energisa Group Energisa Group’s share control is exercised by Gipar S.A., controlled by the Botelho Family. The Company is listed in Level 2 Corporate Governance of B3 and its most liquid shares are traded under the symbol ENGI11 (Units - certificates comprising one commo n share and four preferred shares). In addition to these securities, it has shares traded under the symbols ENGI3 (common shares) and ENGI4 (preferred shares). See below the simplified ownership structure of Energisa Group: CV - Voting Capital | CT - Total Capital The interests shown in the table are direct (1) or indirect (2) interests of Energisa S.A. Squadra Investimentos, FIA Samambaia and Goldman Sachs – shareholding held directly and indirectly through investment vehicles. Other noncontrolling interests - share position including treasury stock. Energisa Participações Minoritárias S.A. has a direct interest of 29.6% in Rede and 39.8% in EMT. Energisa Participações Nordeste S.A. has a direct interest of 100% in EPB. The holding company Gemini Energy S/A holds the share control of the transmission utilities: - 100% of Linhas de Itacaiúnas de Transmissora de Energia Ltda; - 100% of Linhas de Taubaté Transmissora de Energia S.A.; - 85.1% of Linhas de Macapá Transmissora de Energia S.A. and - 83.3% of Linhas de Xingu Transmissora de Energia S.A. The company Norgás holds a minority investment in the following gas distribution companies: - 29.4% in Cegás; - 29.4% in Algás; - 41.5% in Copergás; and - 83.0% in Potigas. Data as of 10/16/2025
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7 ENERGISA GROUP EARNINGS RELEASE 3Q25 2. ENERGISA CONSOLIDATED 2.1 Net operating revenue See below the net operating revenue by business line before intercompany eliminations and business combination: Net revenue by business line Amounts in R$ million Quarter Accumulated 3Q25 3Q24 Change % 9M25 9M24 Change % ➢ Electricity distribution 8,142.4 7,422.6 + 9.7 23,305.4 20,893.8 + 11.5 ➢ Electricity transmission 285.6 334.3 - 14.6 989.8 1,119.8 - 11.6 ➢ (re) energisa 635.3 479.7 + 32.4 1,564.1 1,124.4 + 39.1 • Distributed generation 87.6 84.4 + 3.8 255.7 264.1 - 3.2 • Electricity trading (1) 491.0 326.6 + 50.3 1,152.0 633.4 + 81.9 • Added value services 56.7 68.7 - 17.5 156.5 226.8 - 31.0 ➢ Natural gas distribution 187.8 431.5 - 56.5 497.8 1,282.2 - 61.2 ➢ Holding companies and other 143.9 131.7 + 9.2 407.9 376.5 + 8.3 (=) Total 9,395.0 8,799.8 + 6.8 26,765.1 24,796.7 + 7.9 Intercompany eliminations and business combination (213.0) (219.3) - 2.9 (609.6) (639.4) - 4.7 (=) Consolidated net revenue 9,182.0 8,580.6 + 7.0 26,155.5 24,157.3 + 8.3 (-) Construction revenue (2) (1,674.2) (1,661.3) + 0.8 (4,786.1) (4,570.2) + 4.7 (=) Consolidated net revenue, without infrastructure construction revenue 7,507.8 6,919.3 + 8.5 21,369.4 19,587.2 + 9.1 (1) Includes Clarke’s result in the Trading Company from 2Q25, previously recorded under 'Holding/Others'. To facilitate a compar ative analysis, this adjustment was also applied to the 2024 results, without impacting Energisa’s consolidated result, as it is m erely a reclassification between P&L items. (2) Construction revenue: infrastructure construction revenue + transmission infrastructure maintenance and operation revenue + r evenue from construction performance obligation margins + remuneration of the contract asset (electricity transmission). Consolidated operating revenue is detailed in Appendix A2. See this and other tables in Excel on this link. Headlines: ➢ The Electricity Distribution segment saw net revenue rise in 3Q25 by R$ 719.8 million (+9.7%). This growth was mainly driven by the increase in financial asset and liability revenue (+R$ 341.1 million), electric system availability revenue (+R$ 243.1 milli on), subsidies for services awarded under concession (+R$ 266.7 million) billed captive supply (+R$ 83.7 million). See more details in section 3. ➢ In the Transmission segment, corporate net income decreased by 14.6%, mainly due to lower construction revenue, as a result of fewer investments made in energized projects: Energisa Amazonas and Energisa Amapá. See more details in section 4. ➢ The 32.4% increase in (re)energisa's revenue in 3Q25 was driven mainly by the Energy Trader (+ R$ 164.3 million) and Distributed Generation (R$ 3.2 million). This growth offset the declines in the value -added services segment, which saw a decrease of R$ 12 .0 million. See more details in section 5. ➢ In the Gas Distribution segment, the 56.5% decrease in net revenue compared to 3Q24 reflects the customer migration to the free gas market and lower billing from PGU (excess gas price). It is worth noting that migration to the free market is offset by a re duction in gas costs and does not affect the distributor’s gross margin when equivalent distribution volumes are maintained, since the cost of gas is fully passed through to the customer. The gross margin for the segment totaled R$ 80.4 million, a 17.3% in crease. See more details in section 7. ➢ In the Holding and Others segment, the 9.2% increase (R$ 12.2 million) on 3Q24 was mainly due to higher service revenues from the Shared Services Center (CSE) and IT (+R$ 9.1 million).
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8 ENERGISA GROUP EARNINGS RELEASE 3Q25 2.2 Manageable operating costs and expenses See below the breakdown of the Company’s consolidated operating costs and expenses: Breakdown of operating costs and expenses Amounts in R$ million Quarter Accumulated 3Q25 3Q24 Change % 9M25 9M24 Change % 1 Non Manageable costs and expenses 4,415.0 4,057.2 + 8.8 11,977.9 10,770.5 + 11.2 1.1 Electricity and transportation cost (1) 4,334.9 3,714.2 + 16.7 11,731.8 9,725.1 + 20.6 1.2 Cost of gas and transportation 80.0 343.0 - 76.7 246.1 1,045.4 - 76.5 2 Manageable costs and expenses 1,059.7 1,107.4 - 4.3 3,189.3 3,106.0 + 2.7 2.1 PMSO 934.6 909.1 + 2.8 2,719.7 2,719.6 + 0.0 2.2 Provisions/Reversals 125.1 198.3 - 36.9 469.5 386.3 + 21.5 2.2.1 Contingencies 29.5 121.0 - 75.6 118.1 32.8 + 260.4 2.2.2 Expected credit losses 95.6 77.3 + 23.7 351.5 353.5 - 0.6 3 Other revenue/expenses 581.6 542.0 + 7.3 1,816.9 1,720.1 + 5.6 3.1 Amortization and depreciation 533.8 466.4 + 14.5 1,572.1 1,369.4 + 14.8 3.2 Other revenue/expenses 47.8 75.6 - 36.8 244.7 350.7 - 30.2 Total (exc. infrastructure construction cost) 6,056.3 5,706.6 + 6.1 16,984.0 15,596.5 + 8.9 Infrastructure construction cost 1,467.2 1,464.7 + 0.2 3,977.8 3,752.2 + 6.0 Total (including infrastructure construction cost) 7,523.5 7,171.3 + 4.9 20,961.8 19,348.7 + 8.3 (1) It includes the energy purchase amounts from the distribution companies, the trading company and the elimination effect. The purchased electricity line was impacted by a net provision of R$ 12.9 million related to unoffset distributed generation energy, whose accounting recognition began in 4Q24. See below the PMSO, which makes up manageable costs, detailed by business line: PMSO by business line Amounts in R$ million Quarter Accumulated 3Q25 3Q24 Change % 9M25 9M24 Change % ➢ Electricity distribution (1) 848.4 786.1 + 7.9 2,460.7 2,358.3 + 4.3 ➢ Electricity transmission 33.8 62.3 - 45.8 94.7 166.9 - 43.2 ➢ (re) energisa 86.3 115.8 - 25.5 258.1 346.1 - 25.4 • Distributed generation 25.9 38.9 - 33.4 87.2 100.2 - 13.0 • Electricity trading (2) 10.8 14.7 - 26.4 32.5 41.7 - 22.3 • Added value services 49.6 62.3 - 20.3 138.4 204.1 - 32.2 ➢ Natural gas distribution 19.2 19.6 - 1.7 55.5 54.0 + 2.9 ➢ Holding companies and other 127.0 114.1 + 11.3 365.4 337.1 + 8.4 (=) Total 1,114.7 1,098.0 1.5 3,234.4 3,262.4 - 0.9 Intercompany eliminations (180.1) (188.9) - 4.7 (514.7) (542.7) - 5.2 (=) Energisa consolidated 934.6 909.1 + 2.8 2,719.7 2,719.6 - (1) See this and other tables in Excel available on this link (2) Includes Clarke’s result in the Trading Company from 2Q25, previously recorded under 'Holding/Others'. To facilitate a compar ative analysis, this adjustment was also applied to the 2024 results, without impacting Energisa’s consolidated result, as it is m erely a reclassification between P&L items. In the quarter, consolidated PMSO increased by 2.8%, undercutting the IPCA inflation of 5.2%. Highlights include reductions in the transmission segment ( -45.8%) and in (re)energisa ( -25.5%). In the Transmission segment, Regulatory PMSO dropped 25.6% due to the insourcing of O&M activities. For further information, see item 4 of this report.
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9 ENERGISA GROUP EARNINGS RELEASE 3Q25 Regulatory PMSO Amounts in R$ million Quarter Year 3Q25 3Q24 Change % 9M25 9M24 Change % ➢ Electricity transmission - Regulatory 33.8 45.4 - 25.6 92.5 127.2 - 27.3 PMSO (Personnel, Materials, Services and Other) Consolidated PMSO expenses grew by 3.1% compared to 3Q24, amounting to R$ 93 4.6 million in the quarter. Consolidated PMSO Quarter Year 3Q25 3Q24 Change % 9M25 9M24 Change % Personnel and retirement benefits 539.0 491.5 + 9.7 1,580.5 1,468.8 + 7.6 Material 77.6 81.5 - 4.9 235.9 249.2 - 5.3 Outsourced services (1) 301.5 288.3 + 4.6 793.0 825.2 - 3.9 Other 16.6 47.8 - 65.3 110.3 176.5 - 37.5 • Contractual and regulatory penalties 0.3 0.9 - 67.3 0.9 1.9 + 54.0 • Other 16.3 46.8 - 65.3 109.4 174.6 - 37.3 Total consolidated PMSO 934.6 909.1 + 2.8 2,719.7 2,719.6 + 0.0 The main changes in PMSO expenses are detailed below: ✓ Personnel and Retirement Benefits In 3Q25, these expenses grew by 9.7% (+R$ 47.5 million) compared to 3Q24, driven by collective bargaining agreements, benefits, higher termination costs and headcount growth of 2.9%, resulting from the insourcing of teams in recent quarters, mainly in powe r distribution (+R$ 38.8 million), transmission (+R$ 8.2 million) and ES Gás (+R$ 5.6 million). This increase was partially offset by lower expenses in the value -added services segment of (re)energisa ( -R$ 11.8 million). ✓ Material In 3Q25, material expenses totaled R$ 77.6 million, a reduction of 4.9% (R$ 4.0 million) compared to 3Q24, mainly due to a R$ 6.4 million drop in transmission, as a result of efficient operational cost management. This was partially offset by a R$ 3.5 mill ion increase in the power distribution segment due to higher spending on fuels and lubricants, grid maintenance, equipment and fleets. ✓ Services In 3Q25, service expenses amounted to R$ 301.5 million, 4.6% (+ R$ 13.2 million) more than in 3Q24, due to: (i) +R$ 41.5 million in expenses in the power distribution segment, including +R$ 16.2 million in corrective and preventive maintenance expenses and R$ 9.2 million in attorneys’ fees. (ii) + R$ 11.0 million on intercompany services (iii) - R$ 28.9 million due to the insourcing of O&M activities at the transmission companies (iv) - R$ 12,9 million in generation distribution segment ; ✓ Other In 3Q25, this item dropped 65.3% ( -R$ 31.2 million), mainly due to reimbursement from the Fuel Consumption Account (CCC), offsetting the Vila Restauração and Mais Luz para Amazônia projects, resulting in a R$ 18.0 million reduction in expenses in 3Q25 and a reduction in equipment leasing and property rental expenses of R$ 8.7 million. Provisions/Reversals Legal claims In 3Q25, the item provisions/reversals recorded an impact of R$ 29.5 million compared to R$ 121.0 million in 3Q24, a decrease of R$ 91.5 million mainly due the following movements in 2024: (i) execution of significant settlement agreements with an impact t otaling R$ 36.9 million (ERO – R$ 18.4 million, EMT – R$ 13.0 million, and ETO – R$ 5.5 million); and (ii) a risk reassessment of R$ 40 million in a case involving loss of suit fees related to a credit listed in Rede Energia's judicial recovery.
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10 ENERGISA GROUP EARNINGS RELEASE 3Q25 Expected credit losses for doubtful accounts (“PPECLD”) The PPECLD was R$ 95.6 million in 3Q25, representing an increase of 23.7% (+R$ 18.3 million) compared with the R$ 77.3 million in 3Q24. This growth is explained by the increase in PPECLD across the distribution companies in 3Q25 and the recognition of R$ 7 .0 million related to the write -off of contracts recorded under Other revenues/expenses in 3Q24, whose effect was reclassified to PPECLD in 4Q24. For further information see item 3.1.5.2 of this report. Other revenue/expenses In the quarter, other net expenses were R$ 47.8 million in the quarter, a decrease of 36.8% ( -R$ 27.8 million) compared with the same period last year, mainly related to positive variance of R$ 24.6 million, due the mark to mark of trading company . 2.3 EBITDA EBITDA amounted to R$ 2,192.3 million in 3Q25, an increase of 16.9% on the same quarter last year. The adjusted EBITDA covenants used in debt indicators stood at R$ 2,301.4 million in 3Q25, an increase of 16.0% over the same period last year. In the last 12 months, adjusted EBITDA for covenant purposes totaled R$ 8,998.6 million. If we disregard the impact of the nonrecurrent effect of the provision for distributed generation credit at the DisCos in the amount of R$ 510.9 million (R$ 430.2 million in 4Q2 4, R$ 41.5 million in 1Q25, R$ 26.2 million in 2Q25 and R$ 12.9 million in 3Q25), Adjusted EBITDA for covenant purposes over the last 12 months would be R$ 9,509.4 million. EBITDA by business line Amounts in R$ million Quarter Accumulated 3Q25 3Q24 Change % 9M25 9M24 Change % ➢ Electricity distribution 1,877.0 1,670.7 + 12.4 5,807.7 5,282.0 + 10.0 ➢ Electricity transmission 179.0 141.7 + 26.3 707.4 630.4 + 12.2 ➢ (re) energisa 40.6 20.6 + 97.2 48.9 (21.1) - • Distributed generation 43.2 34.7 + 24.3 119.1 125.1 - 4.7 • Electricity trading (1) (10.7) (20.3) - 47.1 (87.9) (168.3) - 47.8 • Added value services 8.2 6.2 + 32.6 17.6 22.2 - 20.8 ➢ Natural gas distribution 62.5 49.5 + 26.3 135.6 153.0 - 11.4 ➢ Holding companies and other 32.1 (16.1) - 52.6 (34.3) - Intercompany eliminations and business combination 1.0 9.3 - 89.0 13.6 168.0 - 91.9 (=) EBITDA 2,192.3 1,875.7 + 16.9 6,765.8 6,178.0 + 9.5 (+) Revenue from interest on overdue energy bills 109.1 108.0 + 1.1 330.4 321.7 + 2.7 (=) Covenants adjusted EBITDA (2) 2,301.4 1,983.6 + 16.0 7,096.1 6,499.7 + 9.2 (1) Includes Clarke’s result in the Trading Company from 2Q25, previously recorded under 'Holding/Others'. To facilitate a compar ative analysis, this adjustment was also applied to the 2024 results, without impacting Energisa’s consolidated result, as it is m erely a reclassification between P&L items. (2) EBITDA plus arrears surcharge revenue.
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11 ENERGISA GROUP EARNINGS RELEASE 3Q25 Description Amounts in R$ million Quarter Accumulated 3Q25 3Q24 (1) Change % 9M25 9M24 Change % (=) EBITDA 2,192.3 1,875.7 + 16.9 6,765.8 6,178.0 + 9.5 (-) Concession financial asset (VNR - Distribution) (100.4) (107.6) - 6.6 (545.4) (427.1) + 27.7 (-) Corporate EBITDA TransCos (179.0) (141.7) + 26.3 (707.4) (630.4) + 12.2 (+) Regulatory EBITDA TransCos 168.6 131.1 + 28.6 478.3 410.1 + 16.6 (=) Adjusted EBITDA 2,081.5 1,757.5 + 18.4 5,991.2 5,530.6 + 8.3 (+/-) Nonrecurrent and extraordinary effects (10.5) 14.1 - (119.1) 45.1 - Mark-to-market ECOM (10.5) 14.1 - 57.8 186.5 - 69.0 ERO Reversal of Contingency - - - - (141.4) - Provision for ERO’s RTE (1) 0.0 - - (176.9) - - (=) Recurrent adjusted EBITDA 2,071.0 1,771.6 + 16.9 5,872.1 5,575.7 + 5.3 (1) The reversal of ERO contingencies recorded under the Purchase Price Allocation (PPA) of ERO does not impact the distributor, only the parent company Energisa S.A. Recurring adjusted EBITDA reached R$ 2,071.0 million, 16.9% higher than in 3Q24. This increase was driven by higher revenue across all segments in which the Company operates and a R$ 91.5 million reduction in contingencies. Additionally, EBITDA was impacte d by a positive mark -to-market effect of R$ 10.5 million at ECOM in 3Q25, and negative effect of R$ 14.0 million in 3Q24, both related to the trading company’s portfolio. 2.4 Finance income/loss In 3Q25, the financial result was a net expense of R$ 784.1 million, an increase of 57.3% on 3Q24, influenced by the higher average net debt of 32.1% and growth in the average net debt cost of 14. 65% p.a. in 3Q25 versus 11.2 2% p.a. in 3Q24. Financial results (R$ million) Quarter Accumulated 3Q25 3Q24 Change % 9M25 9M24 Change % Finance revenue 574.5 454.8 + 26.3 1,660.5 1,346.8 + 23.3 Revenue on short-term investments 309.3 263.6 + 17.3 827.4 784.2 + 5.5 Interest on overdue energy bills 109.1 108.0 + 1.1 330.4 321.7 + 2.7 Financial restatement of regulatory assets (CVA) 62.7 9.7 + 548.3 206.7 26.2 + 687.7 Restatement of recoverable tax credits 22.1 36.2 - 38.9 78.0 87.1 - 10.5 Monetary restatement of judicial bonds 33.7 12.9 + 161.6 96.7 61.7 + 56.7 Restatement of effects of excluding ICMS from the Pis and Cofins calculation base (*) 25.1 28.0 - 10.3 75.8 94.3 - 19.6 (-) Pis/Cofins on finance revenue (41.3) (30.1) + 37.0 (115.1) (92.1) + 25.0 Other finance revenue 53.8 26.6 + 102.0 160.7 63.6 + 152.5 Finance costs (1,358.6) (953.1) + 42.5 (4,120.9) (2,892.6) + 42.5 Debt charges - Interest (1,020.2) (718.7) + 42.0 (2,683.4) (2,122.5) + 26.4 Debt charges - Monetary and exchange variance 80.4 24.0 + 235.1 475.5 (1,223.9) - Derivative financial instruments (Swap) (416.3) (238.9) + 74.2 (1,642.9) 512.6 - Adjustment to present value (17.3) (7.6) + 127.7 (23.2) 24.3 - Mark-to-market of derivatives 109.2 100.4 + 8.7 505.3 (183.8) - ✓ Swap MtM (3.8) 2.1 - 452.1 (477.6) - ✓ MTM Stock option plan (EPM) 130.0 98.4 + 32.1 (31.8) 293.9 - ✓ MTM Stock option plan (EPNE) (17.0) - - 85.1 - - Mark-to-market of debt securities 6.3 (21.2) - (425.8) 452.2 - Financial restatement of regulatory liabilities (16.4) (26.2) - 37.5 (66.1) (73.3) - 9.9 Restatement PEE and R&D (5.3) (4.1) + 30.1 (16.4) (11.6) + 42.1 (-) Transfer to orders in progress 15.5 29.0 - 46.5 40.4 89.8 - 55.0 Incorporation of grids (8.1) 37.4 - (31.6) (11.2) + 181.8 Restatement of effects of excluding ICMS from the Pis and Cofins calculation base (*) (20.3) (24.7) - 17.7 (68.2) (85.4) - 20.2 Other finance costs (66.1) (102.6) - 35.6 (184.6) (259.9) - 29.0 Finance income/loss (784.1) (498.4) + 57.3 (2,460.4) (1,545.9) + 59.2
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12 ENERGISA GROUP EARNINGS RELEASE 3Q25 2.5 Net income for the period In the quarter the net income before noncontrolling interests was R$ 648.4 million, R$ 78.6 million or -10.8% less than the same period last year. The Parent Company's net income in the quarter was R$ 438.5 million, 20.7% less than in 3Q24. Noncontrolling interests stood at R$ 209.9 million in 3Q25, an increase of 20.5% compared to the same period in 2024. Net income for the period by business line Amounts in R$ million Quarter Accumulated 3Q25 3Q24 Change % 9M25 9M24 Change % ➢ Electricity distribution 687.8 767.7 - 10.4 2,435.0 2,421.4 + 0.6 ➢ Electricity transmission 92.0 61.9 + 48.6 351.1 283.2 + 24.0 ➢ (re) energisa (30.5) (25.0) + 22.0 (117.2) (122.5) - 4.4 · Distributed generation (26.1) (10.9) + 138.6 (63.8) (12.9) + 396.1 · Electricity trading (1) (7.9) (15.4) - 48.6 (60.3) (116.3) - 48.2 · Added value services 3.5 1.3 + 167.8 6.9 6.7 + 3.5 ➢ Natural gas distribution 11.0 8.6 + 28.2 5.2 39.0 - 86.8 ➢ Holding companies and other (48.9) (38.0) + 28.5 (315.6) (105.2) + 200.1 Business combination (62.9) (48.0) + 31.0 (193.6) 1.3 - (=) Consolidated net income for the period 648.4 727.1 - 10.8 2,164.9 2,517.1 - 14.0 Net income margin (%) 7.1 8.5 - 1.4 p.p. 8.3 10.4 - 2.1 p.p. Net income of Parent Company 438.5 552.9 - 20.7 1,471.5 1,960.7 - 24.9 (1) Includes Clarke’s result in the Trading Company from 2Q25, previously recorded under 'Holding/Others'. To facilitate a compar ative analysis, this adjustment was also applied to the 2024 results, without impacting Energisa’s consolidated result, as it is m erely a reclassification between P&L items. The “Holdings and Other” item was negatively impacted by the financial result, which was influenced by the following factors: (i) a 32.1% increase in net debt balance and (iii) an increase in the average cost of net debt to 14.65% p.a. in 3Q25 compared to 11. 22% p.a. in 3Q24. If the nonrecurrent and non -cash effects shown in the table below were excluded, the recurring adjusted consolidated net income for the quarter would be R$ 427.6 million, 13.6% million less than in the same period last year. See below nonrecurrent and noncash effects in the quarter, net of tax: Amounts in R$ million Net income Quarter Accumulated 3Q25 3Q24 Change % 9M25 9M24 Change % (=) Consolidated net income for the period 648.4 727.1 - 10.8 2,164.9 2,517.1 - 14.0 (-) Concession financial asset (VNR - Distribution) (79.5) (85.9) - 7.5 (432.7) (341.6) + 26.7 (-) Net corporate income/loss - TransCos (92.0) (61.9) + 48.6 (351.1) (283.2) + 24.0 (+) Net regulatory income/loss - TransCos 43.6 4.9 + 781.5 65.0 (15.7) - (=) Adjusted net income for the period 520.6 584.2 - 10.9 1,446.0 1,876.7 - 22.9 Nonrecurring effects (93.0) (89.1) + 4.4 (187.5) (312.2) - 40.0 Mark-to-market ECOM (6.9) 9.3 - 38.1 123.1 - 69.0 Mark-to-market EPM Call (99.0) (98.4) + 0.7 24.2 (293.9) - Mark-to-market EPNE Call 13.0 - - (64.8) - - Provision for ERO’s RTE - - - (185.0) - - ERO Reversal of Contingency - - - - (141.4) - (=) Adjusted recurrent net income for the period 427.6 495.1 - 13.6 1,258.5 1,564.5 - 19.6 Net income margin (%) 4.7 5.8 - 1.1 p.p. 4.8 6.5 - 1.7 p.p. (1) The recurring adjusted net income for 3Q24 differs from the figure previously disclosed because it does not include the adjus tment for the PLR provision (R$ 49.3 million) and the overcontracting provision at EAC (R$ 1.9 million), since these effects are re curring in 3Q25. The breakdown of net income by company can be seen in appendix A.3.
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13 ENERGISA GROUP EARNINGS RELEASE 3Q25 2.6 Capital structure 2.6.1 Financing operations Energisa Group secured financing of R$ 7,594.7 million in 3Q25, at an average cost of 103.17% of the CDI rate. Over recent years the parent company Energisa S.A. has issued infrastructure debentures under Law 12.431, to finance the investments of its DisCos. The funds were passed through to the subsidiaries by way of mirror debentures, with a private distribution, details of which can be seen in appendix A.4. See below funding by company and issuance type for YTD 2025: Company Issue type Total amount (R$ millions) Average Cost (% CDI p.a.) Maturities (years) AGRIC, ALSOL, ECOM, EPB, ERO, ESA, ES Gás, LMTE and LXTE Law 4131 1,401.00 104.45% 1, 2 and 3 ALSOL, EMS, EMT, EPB, ERO, ESA, ESE, ESS and ETO Debentures / Commercial Papers 10,519.66 103.07% 2, 5, 7, 10 and 15 AGRIC Climate Fund 47.0 52.55% Up to 16 EAC, EMR, ESE, ESS and ETO FINEM 396.50 105.87% Up to 16 Total 12,364.16 103.12% - 2.6.2 Noncontrolling interests call options The company holds options to purchase noncontrolling interests with a restated value equivalent to R$ 1,118.0 billion in Energisa Participações Minoritárias S/A (EPM) and R$ 922.9 billion in Energisa Participações Nordeste (EPNE). In the quarter, a capital reduction transaction was carried out at EPM in the amount of R$ 1 billion, along with the declaration of dividends totaling R$ 163.5 million, resulting in a cash inflow of R$ 794.3 million to the parent company, Energisa S/A. For further details see notes 15 and 32 and the Interactive Spreadsheets - Energisa. 2.6.3 Cash and debt The consolidated position of cash, cash equivalents, short -term investments and sector credits amounted to R$ 11,753.4 million as of September 30, against R$ 10,131.7 million as of June 30, 2025. We emphasize that these balances include credits relating to the Energy Development Account (CDE), Fossil Fuel Consumption Account (CCC) and the memorandum account for amounts of the A portion (CVA), in the amount of R$ 1,751.3 million in September and R$ 945.6 million in March 2025. The net debt as of September 30, 2025 adjusted for sector credits amounted to R$ 29,199.5 million, compared with R$ 27,646.8 million as of June 31. Despite the nominal increase, the leverage indicator, measured by the net debt / adjusted EBITDA ratio for c ovenant purposes, remained stable at 3.2x in the last 3 quarters. The quarter was marked by the issuance of incentivized debentures, which brought in R$ 2,490 million at a weighted average cost equivalent to the treasury bond rate less a 0.30% p.a. spread. The average term of these loans was 12 years. Additionally, an Exchange Offer transaction was conducted, with 84% participation, corresponding to R$ 3,249 million, resulting in a 5 -year extension of the debt maturity. If we include the impact of the provision for distributed generation totaling R$ 510.9 million (R$ 430.2 million in 4Q24, R$ 41.5 million in 1Q25, R$ 26.2 million in 2Q25 and R$ 12.9 million in 3Q25), Adjusted EBITDA for covenant purposes over the last 12 months would be R$ 9,512.1 million. In this case, the ratio between net debt/Adjusted EBITDA covenants would be 3.1x in September 2025 versus 3.0x in June 2025.
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14 ENERGISA GROUP EARNINGS RELEASE 3Q25 The Company and its subsidiaries have debt covenants of 4.0x for loans executed until 2019 and 4.25x for the others. In the debentures issuances, the covenants are 4.0x for issuances made until March 2020 and 4.25x for the others. See below the short - and long -term debt net of financial resources (cash, cash equivalents, short -term investments and sector credits): Description Amounts in R$ million Parent company Consolidated 09/30/2025 06/30/2025 03/31/2025 09/30/2025 06/30/2025 03/31/2025 Current 1,474.5 2,884.4 897.7 7,166.5 7,888.6 6,411.8 Loans and borrowings 324.8 329.6 261.5 3,727.6 3,412.7 4,099.0 Debentures 951.6 2,391.7 513.3 2,469.5 3,356.0 1,505.4 Debt charges 169.0 147.3 141.6 317.3 480.8 404.9 Tax financing and post-employment benefits 1.5 1.5 1.5 27.8 28.0 28.1 Derivative financial instruments, net: 27.5 14.2 (20.2) 624.3 611.0 374.5 ✓ (-) Assets: derivative financial instruments 0.0 0.0 (22.8) (23.8) (33.4) (188.9) ✓ (+) Liabilities: derivative financial instruments 27.5 14.2 2.5 648.1 644.4 563.4 Noncurrent 10,210.3 8,337.7 9,871.5 33,786.5 29,889.9 29,595.8 Loans, financing and leasing 199.9 199.9 199.9 10,634.8 10,996.3 11,316.6 Debentures 11,009.6 9,088.1 10,792.2 24,215.2 20,049.3 19,742.6 Tax financing and post-employment benefits 11.7 11.3 11.0 225.9 217.7 210.9 Derivative financial instruments, net: (1,011.0) (961.7) (1,131.5) (1,289.5) (1,373.3) (1,674.3) ✓ (-) Assets: derivative financial instruments (1,404.3) (1,291.3) (1,504.9) (1,998.5) (1,971.5) (2,323.4) ✓ (+) Liabilities: derivative financial instruments 393.3 329.6 373.4 709.1 598.1 649.1 Total debts 11,684.8 11,222.1 10,769.3 40,953.0 37,778.4 36,007.7 (-) Cash and cash equivalents: 9,067.3 7,816.8 7,980.8 10,002.1 9,186.1 9,071.6 ✓ Cash and cash equivalents 77.5 313.2 78.8 1,154.1 1,254.6 653.4 ✓ Money market and secured funds 8,989.8 7,503.6 7,902.1 8,848.0 7,931.4 8,418.2 Total net debts 2,617.5 3,405.3 2,788.5 30,950.9 28,592.4 26,936.1 (-) CDE Credits - - - 1,035.7 959.9 886.6 (-) CCC Credits - - - 154.8 156.3 160.5 (-) CVA Credits (1) - - - 560.8 (170.6) (329.9) Total net debts less sector credits 2,617.5 3,405.3 2,788.5 29,199.5 27,646.8 26,218.9 Relative Indicator Adjusted EBITDA covenants 12 months 8,998.6 8,680.8 8,284.5 Net debt / Adjusted EBITDA covenants 12 months (2) 3.2 3.2 3.2 (1) These credits consist of sector financial assets and liabilities. | (2) Adjusted EBITDA covenants = EBITDA + Interest on ener gy bills. Further information and details about the companies’ indebtedness can be seen in the Notes to the financial statements available at https://ri.energisa.com.br/. ep/24 ec/24 ar/25 un/25 ep/25 et e t et e t / d usted E IT et e t million and et e t / d usted E IT 2 months times
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15 ENERGISA GROUP EARNINGS RELEASE 3Q25 2.6.4 Cost and average debt tenor At the end of September 2025, the average debt maturity was 6.5 years and the average debt cost was 98.33% of the CDI (14.65%). Breakdown of the Bank debt and issuances consolidated by index (R$ million) (1) This amount takes into account: (i) CDI -indexed debts of R$ 14.3 billion; (ii) Dollar - and Euro -denominated debts converted to CDI, without a protection cap, totaling R$ 5.7 billion from the USD -to-CDI swap (iii) IPCA -indexed debts converted to CDI, to taling R$ 11.3 billion. Note: The foreign currency debt is subject to swaps for the CDI rate and other currency hedge instruments. 2.6.5 Debt repayment schedule The repayment schedule for consolidated loans, borrowings, debt charges and debentures as of September 30, 2025 vis-à-vis cash is shown in the graph below. C I . , 5, I C ,2 0, . 2 , ,2 T .0 , 2,5 T 4, 2, I C . , ,2 11. 53,4 1.203,1 5. 00, 5.10 ,3 1.934,5 5.483,1 21.943,5 ep/25 2025 202 202 202 202 fter 202 Cash / Investments / ector Credits e t
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16 ENERGISA GROUP EARNINGS RELEASE 3Q25 2.7 Ratings See below Energisa S/A’s current ratings issued by the agencies Standard & Poor’s and Fitch Ratings: Branch Domestic Rating/Outlook Global Rating/Outlook Latest report Standard & Poor’s brAAA (stable) BB- (stable) Dec/24 Fitch Ratings AAA (bra) (stable) BB+ (stable) May/25 2.8 Investments The investments made by business line are described below, and the breakdown of investments by company is available in Appendix A.6 . Investments Quarter Accumulated Amounts in R$ million 3Q25 3Q24 Change % 9M25 9M24 Change % ➢ Electricity distribution 1,620.5 1,519.2 + 6.7 4,177.6 4,048.6 + 3.2 ➢ Electricity transmission 62.4 154.3 - 59.6 173.0 370.9 - 53.4 ➢ (re) energisa 57.4 111.0 - 48.3 198.0 252.3 - 21.5 Distributed Generation 51.4 103.7 - 50.4 187.2 239.0 - 21.7 Electricity marketing 0.4 2.5 - 82.7 0.6 4.3 - 86.4 Services 5.5 4.9 + 13.7 10.2 9.0 + 13.7 ➢ Natural gas distribution 28.3 21.6 + 30.8 64.5 46.4 + 39.1 ➢ Biogás 19.1 5.7 + 236.2 97.3 13.5 + 618.4 ➢ Holding companies and other 31.9 15.4 + 106.8 41.1 24.4 + 68.6 (=) Total 1,819.5 1,827.3 - 0.4 4,751.5 4,756.0 - 0.1 Energisa and its subsidiaries invested R$ 1,819.5 million in the quarter, a decrease of 0.4% on the same quarter last year, influenced by (i) the transmission segment, which posted a 59.6% drop ( -R$ 91.9 million) due to the commissioning of projects under construction, and (ii) (re)energisa, which saw a 48.3% reduction ( -R$ 53.6 million), mainly driven by a 50.4% decline in Distributed Generation. 2.9 Cash flow Consolidated cash flow and balance of cash and cash equivalents Amounts in R$ million Year 9M25 9M24 Net Cash from operating activities 4,149.4 5,365.1 (i) Cash provided by operating activities 6,528.5 5,931.6 (ii) Changes in assets and liabilities (2,379.1) (566.5) Net cash provided by investment activities (4,313.6) (5,318.5) Net cash provided by financing activities 419.1 (246.8) Increase (decrease) in cash (a) 255.0 (200.2) Opening balance of cash and cash equivalents (b) 899.1 1,298.4 (=) Closing balance of cash and cash equivalents (a + b) 1,154.1 1,098.3 (+) Balance of short-term investments and sector credits 10,599.3 7,855.3 (=) Closing balance of cash and cash equivalents, short-term investments and sector credits 11,753.4 8,953.6
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17 ENERGISA GROUP EARNINGS RELEASE 3Q25 2.10 Capital market Traded on B3, Energisa’s most liquid stock, ENGI11 – Unit, composed of 1 common share and 4 preferred shares, closed September 2025 at R$ 50.86 per Unit, a 13.55% appreciation compared to the same period of the previous year. Over the same period, the main stock exchange index, the Ibovespa, rose by 10.94%, while the IEE rose by 20.97%. The average daily trading volume of ENGI11 over the past 12 months dropped by 8.98% compared to the same period last year, reaching R$ 123.0 million. See below the market indicators of Energisa’s shares at the end of the quarter: Sep/25 Sep/24 (3) Change Market indexes Enterprise value (EV - R$ million) (1) 52,535 44,216 18.82% Market value at the end of the year (R$ million) 23,288 20,509 13.55% Average daily volume traded - Units (R$ million) 123 135 -8.98% ENGI11 (Unit) closing price at the end of the year (R$/Unit) 50.86 44.79 13.55% ENGI3 (ON) closing price at the end of the year (R$/share) 13.47 13.60 -0.96% ENGI4 (PN) closing price at the end of the year (R$/share) 9.32 7.85 18.73% Dividends paid per Unit - TTM 2.90 2.00 44.76% Net Income per Unit - TTM 12.21 9.45 29.30% Total return to Units shareholder (TSR) - TTM % 20.02% 4.21% 15.81 p.p. Market value / equity (times) 1.03 1.00 3.15% (1 ) EV = Market value (R$/share vs. number of shares) + consolidated net debt. (2 ) The net income used to compile the indicator Net Income over Unit is the Corporate net income. (3 ) Figures for previous periods may be revised due to dividend adjustments in share prices. 3. ELECTRICITY DISTRIBUTION 3.1 Operating revenue See below the net operating revenue by consumption sector of the DisCos: Net revenue by consumption sector Amounts in R$ million Quarter Accumulated 3Q25 3Q24 Change % 9M25 9M24 Change % (+) Electricity revenue (captive market) 6,624.9 6,541.3 + 1.3 19,738.3 20,768.5 - 5.0 ✓ Residential 3,644.0 3,463.9 + 5.2 11,090.3 11,187.8 - 0.9 ✓ Industrial 260.4 329.7 - 21.0 778.0 1,033.6 - 24.7 ✓ Commercial 1,098.4 1,160.6 - 5.4 3,328.6 3,806.8 - 12.6 ✓ Rural 800.2 790.4 + 1.2 2,171.1 2,309.0 - 6.0 ✓ Other sectors 822.0 796.8 + 3.2 2,370.2 2,431.4 - 2.5 (+) Electricity sales to distributors 206.8 178.8 + 15.6 674.4 241.1 + 179.7 (+) Net unbilled sales 132.1 42.1 + 214.0 71.9 (130.8) - (+) Electricity network usage charges 1,077.8 834.7 + 29.1 2,963.7 2,370.7 + 25.0 (+) Infrastructure construction revenue 1,367.2 1,309.6 + 4.4 3,729.8 3,380.6 + 10.3 (+) Creation and amortization of financial sector assets and liabilities 986.1 645.0 + 52.9 2,206.6 852.2 + 158.9 (+) Subsidies for services awarded under concession 878.1 611.3 + 43.6 2,289.0 1,664.3 + 37.5 (+) Concession financial assets (VNR) 100.4 107.6 - 6.6 545.4 427.1 + 27.7 (+) Other revenue 78.1 72.2 + 8.1 178.1 174.4 + 2.1 (=) Gross revenue 11,451.5 10,342.5 + 10.7 32,397.1 29,748.2 + 8.9 (-) Sales taxes (2,207.5) (2,030.6) + 8.7 (6,357.5) (6,157.1) + 3.3 (-) Sector charges (1,101.6) (889.3) + 23.9 (2,734.1) (2,697.2) + 1.4 (=) Combined net revenue 8,142.4 7,422.6 + 9.7 23,305.4 20,893.8 + 11.5 (-) Concession financial asset (VNR) (100.4) (107.6) - 6.6 (545.4) (427.1) + 27.7 (-) Infrastructure construction revenue (1,367.2) (1,309.6) + 4.4 (3,729.8) (3,380.6) + 10.3 (=) Combined net revenue, without infrastructure construction revenue and VNR 6,674.8 6,005.4 + 11.1 19,030.2 17,086.2 + 11.4
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18 ENERGISA GROUP EARNINGS RELEASE 3Q25 3.1.1 Gross margin Distributed gross margin Amounts in R$ million Quarter Accumulated 3Q25 3Q24 Change % 9M25 9M24 Change % Combined net operating revenue 8,142.4 7,422.6 + 9.7 23,305.4 20,893.8 + 11.5 (-) Infrastructure construction cost (1,367.2) (1,309.6) + 4.4 (3,729.8) (3,380.6) + 10.3 (-) Concession financial asset - VNR (100.4) (107.6) - 6.6 (545.4) (427.1) + 27.7 (=) Combined net operating revenue (without infrastructure construction revenue and VNR) 6,674.8 6,005.4 + 11.1 19,030.2 17,086.2 + 11.4 (-) Uncontrollable costs and expenses (3,844.4) (3,411.0) + 12.7 (10,620.2) (9,192.5) + 15.5 Electricity purchased for resale (2,991.7) (2,790.7) + 7.2 (8,156.3) (7,320.1) + 11.4 Charge for using transmission and distribution system (852.7) (620.4) + 37.5 (2,463.9) (1,872.4) + 31.6 (=) Gross margin 2,830.4 2,594.4 + 9.1 8,410.0 7,893.7 + 6.5 (-) Provision for ERO’s RTE - - - (176.9) - - (=) Adjusted and recurrent gross margin 2,830.4 2,594.4 + 9.1 8,233.1 7,893.7 + 4.3 The factors most driving this net revenue and gross margin change in the quarter were: a) In the "Electricity Revenue" item, captive sales revenue increased by 1.3% in 3Q25, reflecting the average rate effect of +3.73%, driven by rate adjustments for the DisCos ESE, ESS, EMR, EMT, EMS and ERO and the rate - setting reviews for EPB and ETO. This i ncrease was partially offset by a 2.3% decline in captive consumption (including GD -2 and G2 -3) during the quarter, the migration of consumers to the free energy market and the negative rate adjustment for EAC in December 2024. Part of the captive market r evenue related to GD -2 and GD-3 is also received via the CDE by DisCos, impacting the item subsidies. b) In the Sales to distributors item, composed of energy settlement in the spot market, the 15.6% increase (+R$ 28.0 million) is explained by surplus spot -market energy revenues in 3Q25 which had a higher average PLD compared to 2024 (2025: 249.2 R$/MWh and 2024: 165.06 R$/MWh); c) Unbilled sales increased R$ 90.0 million between quarters, mainly due to the higher average rate , unbilled consumption and the increase in the average number of unbilled days, which rose from 15.54 days in the third quarter of 2024 to 16.24 days in the same period of 2025. d) In electric system availability, the 29.1% increase (+R$ 2 43.1 million) was due to an expanded customer base resulting from new migrations to the free market. e) In the Regulatory Assets and Liabilities item, which includes the amortization and constitution of regulatory assets/liabilities and excess demand revenue, there was a 52.9% increase (+R$ 341.1 million) mainly due to: ➢ + R$ 518.6 million related to the creation of CVA Energia, reflecting energy costs above ANEEL’s rate coverage, unlike 3Q24, when the PLD was lower, helping to reduce energy purchase and sale costs ➢ + R$ 99.6 million related to the financial neutrality mechanism, with a positive impact due to market reduction compared to the amount approved ➢ - R$ 173.7 million due to the projection of rate tiers, following the activation of red tier levels 1 and 2, increasing energy costs ➢ – R$ 115.2 million related to the settlement of CDE Covid and EH for 2025, with only the tier coverage approved in the most recent rate -setting event currently being accrued. f) In the item subsidies for services awarded under concession, the 43.6% (+ R$ 266.8 million) increase was primarily due to growth in rate subsidies, with a notable rise in the Distributed Generation Electricity Compensation System amounting to R$ 159.7 mill ion and incentivized sources totaling R$ 58.5 million. g) The concession financial asset – VNR decreased by 6.6% (+R$ 7.1 million) in 3Q25, driven by lower inflation recorded in the quarter (0.65% in 3Q25 vs. 0.80% in 3Q24), which impacted the financial asset’s restatement and the recognition of the asset base ap proved by ANEEL in the rate -setting review of ETO.
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19 ENERGISA GROUP EARNINGS RELEASE 3Q25 3.1.2 Energy sales In the third quarter, electricity consumption in Energisa Group’s distribution companies (10,515. GWh) grew by 2.0% compared to the third quarter of 2024. Consumption increased in two months of the quarter, especially in September. The rise in consumption among residential, industrial, and commercial customers drove the quarterly result. Among the contributing factors, it is worth highlighting the strong performance of certain industrial segments, such as food and minerals, supported by expansions among ke y clients. In the commercial segment, there was growth in sectors like supermarkets and home appliances. Additionally, increased income —particularly in the Northeast and North regions —has been boosting the real estate sector. Also noteworthy is the longer meter reading calendar across all three months of the quarter (excluding this effect, market growth would have been 1.2%). The Group’s companies have shown surprisingly positive market evolution, especially considering that Q3 2024 recorded the highest gro wth rate in 11 years. This was mainly driven by hot weather and rising income, which boosted air conditioner sales, and by the strong performance of the food supply chain in the industrial segment . Specifically on weather, 3Q25 was less hot than 3Q24, meaning other factors played a more decisive role in explaining the growth in consumption in the quarter . The Cooling Degree Days (CDD) indicator, which measures cooling needs, fell 16.8% compared to 3Q24 and 9.3% compared to the five -year average. Finally, the increase in the number of consumers —especially in EAC, ESE and EPB —stood out, surpassing recent a verages and aligning with real estate expansion in these geographies. Among the market types, consumption by free market customers saw the most significant growth, driven by migrations, new loads, expansions and increased consumption by industrial clients. In the captive market, customers with Mini and Micro Distributed Gene ration (MMGD) stood out. When excluding the offset effect from DG Type I and II customers, sales would have shown a decrease of 1.4%. Cooling Degree Days - By Region 3Q25 3Q24 Change (%) Midwest 620 763 -18.7 North-east 506 656 -22.8 North 826 826 -0.3 South and southeast 289 438 -34.0 Energisa 582 699 -16.8 (1) Cooling Degree Days (CDD) measure the number of degree -days above a baseline temperature and indicate the need for cooling. It is calculated by subtracting a baseline temperature (18.5°C) from the average daily air temperature (in degrees Celsius). If the average daily temperature exceeds the baseline temperature, the result is a positive number, which represents the number of cooling degree days. For Energisa, this is observed in the cities most representative in terms of energy consumptio n. For example, if the average temperature is 27°C, then the CDD for that day would be 8.5 degree -days (27°C – 18.5°C = 8.5°C). Among the Group's concessions, seven reported growth in consumption, with highlights being ETO (6.4%), EPB (4.9%) and EMT (4.1%), where the residential segment led the increase, although industrial and commercial segments also posted gains. There follows a detailed breakdown of consumption by sector, highlighting the main points.
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20 ENERGISA GROUP EARNINGS RELEASE 3Q25 Description - Amounts in GWh Quarter Accumulated 3Q25 3Q24 Change % 9M25 9M24 Change % Column1 4Q23 4Q22 Change % 4Q232 4Q223 Change %4 Residential 4,148.8 3,980.4 + 4.2 13,025.5 12,688.8 + 2.7 Commercial 1,064.9 1,187.5 - 10.3 3,408.5 3,895.8 - 12.5 Industrial 234.5 333.7 - 29.7 740.8 1,014.0 - 26.9 Rural 872.9 921.1 - 5.2 2,398.7 2,548.6 - 5.9 Other 998.2 1,068.6 - 6.6 3,098.5 3,293.5 - 5.9 1 Captive sales 7,319.3 7,491.4 - 2.3 22,672.1 23,440.6 - 3.3 Residential - - - - - - Commercial 691.6 536.9 + 28.8 2,054.9 1,604.7 + 28.1 Industrial 2,138.0 2,012.4 + 6.2 6,065.7 5,644.8 + 7.5 Rural 156.0 112.7 + 38.4 337.2 222.8 + 51.3 Other 210.8 157.0 + 34.2 569.3 447.4 + 27.2 2 Sales (TUSD) 3,196.4 2,819.1 + 13.4 9,027.1 7,919.7 + 14.0 Residential 4,148.8 3,980.4 + 4.2 13,025.5 12,688.8 + 2.7 Commercial 1,756.5 1,724.5 + 1.9 5,463.5 5,500.5 - 0.7 Industrial 2,372.5 2,346.1 + 1.1 6,806.5 6,658.7 + 2.2 Rural 1,029.0 1,033.8 - 0.5 2,735.9 2,771.4 - 1.3 Other 1,208.9 1,225.6 - 1.4 3,667.7 3,740.9 - 2.0 3 Sales (1+2) 10,515.7 10,310.5 + 2.0 31,699.1 31,360.3 + 1.1 3.1 Offset DG II/III 643.0 294.8 + 118.1 1,734.0 691.9 + 150.6 3.2 Sales - Offset DG II/III (3-3.1) 9,872.7 10,015.7 - 1.4 29,965.2 30,668.4 - 2.3 4 Unbilled Sales 20.9 110.3 - 81.1 (124.6) (109.3) + 14.0 5 Sales + Unbilled Sales to Consumers (3+4) 10,536.6 10,420.8 + 1.1 31,574.5 31,251.0 + 1.0 5.1 Sales - Offset GD II/III + unbilled sales to consumers (3.2+4) 9,893.6 10,125.9 - 2.3 29,840.5 30,559.1 - 2.4 The data in the above table is subject to energy reclassifications by CCEE. The Company closed the quarter with 8,928,582 consumer units, or 2.2% more than the same period last year. The number of captive consumers increased by 2.2%, while free consumers experienced a 66.9% expansion. See this and other tables in Excel available on this link. 3.1.3 Consumption by sector The leading sectors for consumption in quarter were: • Residential: consumption increased by 4.2%, being the main driver of the higher aggregate consumption, as it is the most representative sector. Eight out of nine companies recorded growth, driven by increases in customers, in line with real estate growth, income and g rid upgrades and the increase in units with refrigeration . EPB and ETO led the pack. • Industrial: showed an increase of 1.1%. Most of the Group’s DisCos experienced growth in consumption (8 out of 9), led by ESE, ESS and EMT. Food, mineral, chemical and Oil & Gas production drove growth, fueled by new loads, expansions and increased consumption from existing clients in the free market. • Commercial segment : consumption rose by 1.9%, with growth in most companies (5 out of 9), especially EMT, EPB and ETO, driven by higher consumption from clients operating in the food supply chain (storage and supermarkets), hotels and healthcare networks. • Rural sector: recorded a 0.5% decline, with 6 companies reducing consumption, particularly ESS and ESE, where customers linked to agriculture and livestock farming contributed to the drop. The high comparison base from 3Q24—when consumption had increased by 5.9% (the h ighest rate in 4 years). • Other sectors: decrease of 1.4%. The result was mainly influenced by the public lighting segment, driven by energy efficiency programs and government spending. For further information please see our Market Bulletin – click on the link
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21 ENERGISA GROUP EARNINGS RELEASE 3Q25 3.1.4 Electricity losses Energisa Group ended the 3 rd quarter of 2025 with total losses of 12.04%, a reduction of 0.79 p.p. compared to 3Q24, reaching the lowest historical level under the Group’s current structure (which includes EAC and ERO). This performance underscores the consistency of the Group’s loss reduction strategy, marked by disciplined execution and a focus on efficient capital allocation. On the regulatory front, in 2025 ANEEL began applying non -technical loss limits to the measured sales, making the benchmarks more aligned with the sector’s actual conditions. For distributors whose rate -setting processes were completed during the year, th e new regulatory limits already reflect this methodology, with full effect 12 months after the rate adjustment. EAC and ERO will have their limits updated in the December adjustment, which will also take full effect over the subsequent 12 months. The Group’s consolidated regulatory limit increased from 12.26% in 4Q24 to 12.50% in 3Q25. Against these benchmarks, seven out of nine distribution companies operated below their respective limits, with notable performance from EMR, ESE, EMS, ETO and EAC, all of which were more than 1 p.p. below their benchmarks. With this progress, the Group's consolidated figure closed 3Q25 within regulatory limits, reflecting the success of structural initiatives to reduce losses. We remain focused on capturing operational and regulatory efficiencies, supported by strong governa nce and ongoing monitoring. The attached chart and table illustrate the downward trend in the loss indicator and the widening of the regulatory spread over the period. The following chart illustrates the difference between actual and regulatory losses over recent quarters. Energy Losses (% in past 12 months) DisCo Technical losses (%) Non-technical losses (%) Total losses (%) ANEEL % Injected energy (12 months) Sep/24 Jun/25 Sep/25 Sep/24 Jun/25 Sep/25 Sep/24 Jun/25 Sep/25 EMR 8.80 8.10 8.19 -0.12 -0.26 -0.85 8.62 7.84 7.34 10.17 ESE (*) 7.75 7.71 7.72 2.49 2.09 2.02 10.24 9.80 9.74 11.32 EPB 8.31 8.46 8.41 3.95 3.66 3.67 12.26 12.12 12.08 12.61 EMT (*) 8.80 8.81 7.86 5.77 4.91 5.77 14.57 13.72 13.63 12.13 EMS (*) 8.23 7.45 7.48 3.61 3.44 3.98 11.83 10.88 11.46 12.85 ETO 9.87 9.80 8.92 0.71 0.24 -0.70 10.58 10.04 9.62 13.28 ESS 6.19 6.14 5.59 -0.01 -0.06 -0.43 6.18 6.09 6.02 6.90 ERO 9.01 8.75 7.73 13.03 11.61 12.36 22.04 20.36 20.09 19.13 EAC 9.42 9.30 8.33 5.48 4.48 5.96 14.90 13.78 14.29 16.35 Energisa Consolidated % 8.41 8.23 7.72 4.43 3.84 4.32 12.83 12.07 12.04 12.50 / Nb: (1) To calculate the percentages presented above, we considered the values of unbilled energy. The A1 Free Market was include d in the calculation of the Total Realized and Regulatory Loss. (2) The results of previous quarters are subject to adjustments after the results announced by the Energy Trading Chamber, CC EE. (*) The DisCos ESE, EMT and EMS had their rate adjustments in 2025, and their regulatory limits are now calculated using the new methodology, which considers measured sales volumes in the Sep/25 result. The results for Sep/24 and Jun/25, however, were not adjusted and still reflect the previous methodology, based on billed sales volumes. See this and other tables in Excel available on this link.
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22 ENERGISA GROUP EARNINGS RELEASE 3Q25 3.1.5 Delinquency management 3.1.5.1 Collection fee Energisa Group's consolidated 12 -month collection rate reached 97.16%, matching the historical level achieved in the previous year, despite a challenging economic environment marked by rising default rates nationwide. According to SERASA’s August 2025 Econ omic Bulletin, nearly half of Brazil’s adult population is in default, marking a negative record for SERASA’s indicator. This quarter's performance is attributed to Energisa Group’s diligence in executing agile and effective collection processes, supported by robust analytical intelligence. The company's collection strategy includes the expansion of cost-effective digital in itiatives such as WhatsApp, SMS, blacklisting, electronic protest, automated collections, and digital reminders. These measures, backed by data analytics, enhance efficiency and effectiveness in debt recovery. In addition, Energisa Group offers its clients several options for debt settlement and negotiation, such as payment via Pix, debit or credit card, financing directly with the distribution company, or through the Group’s fintech, Voltz, taking into account each customer’s debt profile. Collection rate (%) In 12 months (%) Sep/25 Sep/24 Change in p.p. EMR 98.69 98.68 + 0.01 ESE 98.50 98.13 + 0.38 EPB 98.04 98.07 - 0.03 EMT 96.54 96.44 + 0.10 EMS 97.53 97.59 - 0.06 ETO 97.78 97.80 - 0.02 ESS 98.93 99.06 - 0.13 ERO 94.11 94.39 - 0.30 EAC 96.05 95.65 + 0.42 Energisa Consolidated 97.16 97.16 + 0.00 The group companies that showed improved performance were ESE, EMT and EAC. Among the companies that recorded a decline in performance, at Energisa Rondônia, we continued to make progress in collections from both residential clients and corporate customers. The main challenge lies in regularizing chronically delinquent customers w ho remain in default despite repeated collection efforts. For these consumers, the Group implemented a program to restructure historical debt and ensure payment of current bills. At Energisa Sul Sudeste, the 19% rate increase in July 2025 caused a short -term impact on the indicator, as the short-term balance (which makes up the largest portion of the total balance) reflects the new billing, while the rest of the base is still tied to the previous rate. This effect is temporary and is expected to normalize in the coming months. At Energisa Mato Grosso do Sul, changes to the state program Conta de Luz Zero (Zero Electricity Bill for Low - Income Customers) reduced the number of beneficiaries by 80%, leading to some customers receiving electricity bills for the first time, as they we re previously paid by the state government. Energisa has been actively assisting by promoting awareness and encouraging re -registration with the state government, in addition to stepping up administrative collection efforts and service suspension actions. As shown in the chart below, performance in 3Q25 remained over and above 97%, as a result of the measures implemented over recent cycles.
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23 ENERGISA GROUP EARNINGS RELEASE 3Q25 3.1.5.2 Delinquency rate Energisa Group's consolidated delinquency rate for the last 12 months was 1.43% in the third quarter of 2025 (3Q25), representing a change of 0.24 percentage points over the same period of the previous year. PPECLD increased by R$ 70.5 million in 3Q25 compared to 3Q24. In the 3Q24 results, there was a reversal of R$ 69.2 million related to Energisa's strong performance in the Federal Government’s “Desenrola Brasil” program (a reduction reflecting negotiations that took place between Oct/23 and Mar/24 under the program). In 3Q25, no such reversals were recorded. Aiming to improve performance and achieve additional results similar to those obtained under the Desenrola program, Energisa launched, in a test phase since Jul/24 at EAC and ESE, a debt regularization program targ eting individual customers (Pessoa Física) with long-overdue debts. Given the strong performance of these two companies in recent results —particularly EAC, as shown in the table below —the Group decided to expand the program to the other companies starting in 4Q25.
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24 ENERGISA GROUP EARNINGS RELEASE 3Q25 PPECLD In 12 months (%) (% of supply invoiced) Sep/25 Sep/24 Change in p.p. EMR 0.36 0.27 + 0.09 ESE 0.63 0.55 + 0.09 EPB 0.84 0.67 + 0.17 EMT 1.95 1.78 + 0.17 EMS 1.61 0.95 + 0.66 ETO 0.52 0.43 + 0.08 ESS 0.36 0.20 + 0.16 ERO 2.84 2.23 + 0.62 EAC 2.16 2.65 - 0.48 Total 1.43 1.19 + 0.24 Regarding the results of Energisa Group's distribution companies, EMS showed the largest variation in the indicator, with a deviation of 0.66 p.p., followed by ERO with 0.62 p.p. and EMT with 0.17 p.p. when comparing 3Q25 to 3Q24. These companies were the ones that saw the greatest reduction in results in 3Q24 during the “Desenrola Brasil” program, with R$ 51.04 million in negotiated debt, accounting for 4% of the Group’s total under the program. In the case of EMS, there was an additional impact from resi dential customers in the low -income subcategory, who previously had their electricity bills subsidized by the state government. To mitigate this impact, as previously mentioned, Energisa is currently expanding a program similar to “Desenrola Brasil,” focused on individual customers with long -overdue debts. Additionally, the company is taking steps to increase enrollment in the low -income rate program. As a result of these efforts, the number of registered beneficiaries grew by 7.8% in September 2025 (142,000 new customers) compared to September 2024. Energisa is continuing to implement ongoing improvements in its delinquency management methods, focusing on optimizing and automating its collection processes. This flexible strategy ensures the company keeps pace with changing customer behavior, prioriti zing more innovative and efficient solutions. To counter the rising delinquency there are strategic initiatives, including credit solutions tailored to consumer profiles, the expansion of digital tools and registration for low -income customers, the prioritization of collection actions to maximize cash recovery, monitoring and working with large -client debts. 3.1.5.3 Service quality indicators for distribution services - DEC and FEC In 3Q25, the Group's DisCos continued to show consistent results, outperforming the Global DEC and FEC regulatory limits in all concessions. The result reflects disciplined management of improvement projects and maintenance plans, and strategic capital allocation, always aiming to adopt best practices to minimize service interruptions despite the intensification of severe weather events. This r einforces the company's commitment to delivering high -quality energy to all customers. The following table presents the results for the period: DisCos Service quality indicators DEC Global (hours) FEC Global (times) DEC limit FEC limit Sep/25 Sep/24 Change(%) Sep/25 Sep/24 Change(%) EMR 9.07 7.49 + 21.1 4.66 3.89 + 19.8 9.97 6.67 ESE 9.21 9.00 + 2.3 4.20 4.52 - 7.1 10.53 6.42 EPB 9.13 10.25 - 10.9 3.57 3.95 - 9.6 12.63 6.91 EMT 15.03 14.77 + 1.8 6.52 6.40 + 1.9 17.19 11.63 EMS 8.88 9.37 - 5.2 4.35 4.27 + 1.9 9.92 6.43 ETO 14.49 15.72 - 7.8 5.25 5.94 - 11.6 16.85 10.29 ESS 5.47 5.17 + 5.8 3.12 2.88 + 8.3 6.74 5.41 ERO 19.84 20.60 - 3.7 6.82 8.21 - 16.9 25.02 16.10 EAC 23.85 23.19 + 2.8 8.23 8.46 - 2.7 41.06 29.68 The data presented is obtained from ANEEL databases and can be changed if requested by the regulator
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25 ENERGISA GROUP EARNINGS RELEASE 3Q25 Headlines: • EPB distinguished itself with the best FEC in the historical series, with a reduction of 9.6%, as a result of efficient capital allocation and effective operation and maintenance measures. • ETO stood out with the best DEC and FEC in its historical series, with reductions of 7.1% and 11.4%, respectively, compared to September 2024. • ERO stood out with the best DEC and FEC in its historical series, with reductions of 3.8% and 16.9%, respectively, compared to September 2024. • EMS distinguished itself with the best DEC in the historical series, with a reduction of 5.1%, as a result of efficient capital allocation and effective operation and maintenance measures. Aiming to improve the Continuity of Electricity sales to consumers in the distribution segment, on November 03, 2022 ANEEL issued letter 44/2022 which established the minimum percentage target of 80% of sets within the regulatory limits of DEC and FEC for the period from 2023 to 2026. To achieve the aforesaid 80% target by 2026, annual goals were set for each concession operator, considering a gradual increase in the minimum percentage of sets within the regulatory limits. All Energisa Group DisCos are already meeting the FEC target for 2025, and EMT, EMS and EMR are on track to meet the DEC indicator for the period, while the remaining DisCos are already in compliance with the DEC target. 3.1.6 Compensation account for Parcel A amounts (CVA) The Compensation Account for Parcel A (CVA) is a regulatory mechanism introduced by Interministerial Ordinance 25/2002 intended to record the changes in costs incurred on energy purchases, energy transportation and sector charges in the period between the DisCo's rate events. This mechanism aims to neutralize the effects of these costs, of “Parcel A” and the whole rate pass -through assured on the DisCos earnings. In the third quarter of 2025, a positive financial balance was recorded, as the actual costs of Parcel A exceeded the current rate coverage. The key factors influencing the recognition of sector -related financial assets and liabilities in 3Q25 were: ➢ +R$ 45.6 million due to the new CDE Uso quotas for 2025, approved by REH No. 3.484/2025. These new quotas have a higher value than the rate coverage granted by ANEEL for the current cycle. ➢ + R$ 515.2 million due to higher energy costs related to the climatic and seasonal effects of the period, which impact power generation; ➢ – R$ 113.2 million related to the reduction in ESS and EER charges, directly influenced by the market downturn Brazil compared to the previous year . With lower electric load, the system requires fewer operational reinforcements, reducing the need to dispatch out -of-merit-order plants, resulting in a lower System Service Charge (ESS). In addition, a lower risk of energy shortage reduces the need for reserve plants, leading to a reduction in the Reserve Energy Charge (EER); ➢ – R$ 6.5 million related to “Rate Flag Projections,” driven by increased electricity acquisition costs due to thermal plant dispatching. From May to September 2025, tiers were triggered (with the red level 2 tier in place during August and September); ➢ – R$ 115.2 million due to reductions associated with the end of payments related to CDE Water Scarcity, CDE Covid and rate affordability adjustments; ➢ – R$ 14.5 million related to the deferral of hydrological risk —a non-recurring financial effect that occurred only in 2024—negatively impacting ERO in particular; +R$ 99.6 million related to the increase in neutrality, caused by the market downturn.
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26 ENERGISA GROUP EARNINGS RELEASE 3Q25 3.1.7 Overcontracting In 3Q25, Energisa Group recorded a positive R$ 0.1 million, related to the monetary restatement of previously recognized periods. The amount accrued over 2025 is a positive R$ 0.2 MM. For further information see Note 8.1.4. 3.1.8 Rate tiers The "Rate Tier System” came into force in January 2015, which shows consumers the actual costs of electricity generation. This passes through to end consumers the cost increase incurred by the DisCo whenever energy purchases are affected by more expensive thermal energy, thereby diminishing the financial burden between the rate adjustments. ANEEL decided to trigger the Level 2 Red Tier for electricity DisCos for September and August and the Level 1 Red Tier for October 2025, after analyzing the hydrological situation in Brazil. Energisa Group's consolidated revenue from rate tiers was R$ 174.3 million in 3Q25, due to rate tier billing in the period, compared with the R$ 21.0 million in 3Q24. 3Q25 includes the billing of rate tiers for the period from May to July 2025, during whic h the yellow tier was in effect in May and the level 1 red tier was in effect in June and July. 3.1.9 Rate reviews and adjustments In 2025 the DisCos EMT, EMS, ESE, EMR and ESS underwent rate -setting review processes to restate the DisCos required revenue, aligning rates with the new forecast expenses on energy purchases, charges and energy transportation, while recognizing finance ad justments made over the course of the previous year. The rate -setting reviews of ERO and EAC are forecast to take place in December 2025. In July and August, the distribution companies ETO and EPB underwent the rate -setting review process, aimed at recalculating their required revenues. This process is intended to recognize the investments made over the previous rate -setting cycle and the ef ficient operating costs of the concession, which will be reflected in the rate applied to consumers. The effects for consumers deriving from the latest adjustment processes and rate review of each Energisa Group DisCo were therefore as follows: DisCo Effect on Consumers (%) Start of term Monetary Restatement - adjustment events Review Process Low Voltage High and Medium Voltage Medium EMR +4.12 +1.61 +3.61 06/22/2025 IPCA Annual Adjustment ESE +6.69 +8.10 +7.0 04/22/2025 IGP-M Annual Adjustment EPB +13.94 +12.11 +13.59 08/28/2025 IGP-M Revision EMT +0.34 +5.42 +1.79 04/08/2025 IGP-M Annual Adjustment EMS +0.69 +3.09 +1.33 04/08/2025 IGP-M Annual Adjustment ETO +12.55 +13.25 +12.68 07/04/2025 IPCA Revision ESS +19.15 +18.80 +19.05 07/12/2025 IPCA Annual Adjustment ERO +2.55 +5.0 +3.03 12/13/2024 IPCA Annual Adjustment EAC -4.42 -1.23 -3.84 12/13/2024 IPCA Annual Adjustment 3.1.10 Regulatory remuneration base The process of valuing assets of the regulatory remuneration base uses the VNR – New Replacement Value, which denotes the value at current market prices of an identical, similar or equivalent asset subject to replacement, which provide the same services an d have the same capacity as the existing asset, including all the expenses necessary to install it. The ratified Net Remuneration Base (BRL) of the electricity DisCos, adjusted for IPCA for September/2025, are as follows:
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27 ENERGISA GROUP EARNINGS RELEASE 3Q25 DisCo Regulatory BRL restated by the IPCA through September 2025 (R$ millions) Date of last Rate- Setting Review Rate Cycle WACC (before tax) Next Rate-Setting Reviews EMR 821.6 June/2021 5th 10.62% June/2026 ESS 1,406.5 July/2021 July/2026 EPB 3,242.8 August/2025 6th 12.17% August/2030 ESE 1,445.6 April/2023 5th 11.25% April/2028 EMT 7,375.1 April/2023 April/2028 EMS 3,720.1 April/2023 April/2028 ETO 3,017.3 July/2025 6th 12.17% July/2030 ERO 3,282.9 December/2023 5th 11.25% December/2028 EAC 1,139.8 December/2023 December/2028 Total 25,451.8 The consolidated compensation base of the electricity DisCos extracted from the corporate financial information includes depreciation, write -offs and new additions, as shown below: Description Amounts in R$ million Notes to the financial statements 09/30/2025 09/30/2024 Change % Concession financial asset 13.1 16,786.37 13,603.32 23.4% Contractual asset - infrastructure under construction 14 3,202.54 2,752.16 16.4% Intangible assets - concession agreement 17 19,008.77 16,659.66 14.1% (-) Exclusion of asset appreciation determined in the purchase price allocation (PPA) of the business combination 16 (5,239.07) (5,807.84) -9.8% Total (33,758.61) (27,207.30) 24.1% 3.1.11 Parcel B DisCo Parcel B DRA (1) DRP (2) Change (R$ million) Change % Review Process EMR 428.8 458.1 29.3 +6.8 Annual Adjustment ESE 663.1 706.0 42.9 +6.5 Annual Adjustment EPB 1,189.0 1,245.8 56.8 +4.8 Revision EMT 2,888.2 3,081.2 193.0 +6.7 Annual Adjustment EMS 1,761.0 1,895.7 134.7 +7.6 Annual Adjustment ETO 1,088.2 1,216.7 128.6 +11.8 Revision ESS 605.2 654.5 49.3 +8.1 Annual Adjustment ERO 1,129.5 1,163.5 33.9 +3.0 Annual Adjustment EAC 432.1 444.9 12.8 +3.0 Annual Adjustment Total 10,185.1 10,866.4 681.4 +6.3% (1 ) DRA – Previous Reference Date: defined as the date the last rate process ratified by ANEEL is effective from, be it an adjustment o r rate review, which includes the costs incurred and revenue earned in the twelve months relating to the rate process. (2 ) DRP – Processing Reference Date: the DRP is defined as the date the rate process under analysis to be ratified by ANEEL is effectiv e from, be it an adjustment or rate review, which includes the costs and revenue projected for the twelve months relating to the rate process. Both use the same reference market and the ratio between the two therefore only shows the rate increase of the component.
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28 ENERGISA GROUP EARNINGS RELEASE 3Q25 3.2 Operating costs and expenses See below the breakdown of the DisCos’ operating costs and expenses. Breakdown of operating costs and expenses Amounts in R$ million Quarter Accumulated 3Q25 3Q24 Change % 9M25 9M24 Change % 1 Non Manageable costs and expenses 3,844.4 3,411.0 + 12.7 10,620.2 9,192.5 + 15.5 1.1 Electricity purchased for resale 2,991.7 2,790.7 + 7.2 8,156.3 7,320.1 + 11.4 1.2 Charges for using the transmission and distribution system 852.7 620.4 + 37.5 2,463.9 1,872.4 + 31.6 2 Manageable costs and expenses 973.5 960.4 + 1.4 2,923.4 2,837.5 + 3.0 2.1 PMSO 848.4 786.1 + 7.9 2,460.7 2,358.3 + 4.3 2.2 Provisions/Reversals 125.1 174.3 - 28.2 462.7 479.2 - 3.4 2.2.1 Contingencies 31.0 89.6 - 65.4 113.2 163.3 - 30.7 2.2.2 Expected credit losses 94.2 84.7 + 11.2 349.5 315.9 + 10.6 3 Other revenue/expenses 461.6 398.4 + 15.9 1,340.2 1,150.9 + 16.4 3.1 Amortization and depreciation 381.4 327.5 + 16.4 1,115.9 949.6 + 17.5 3.2 Other revenue/expenses 80.2 70.9 + 13.2 224.3 201.3 + 11.4 Total (exc. infrastructure construction cost) 5,279.5 4,769.8 + 10.7 14,883.8 13,180.9 + 12.9 Infrastructure construction cost 1,367.2 1,309.6 + 4.4 3,729.8 3,380.6 + 10.3 Total (including infrastructure construction cost) 6,646.7 6,079.4 + 9.3 18,613.6 16,561.5 + 12.4 3.2.1 Non-Manageable operating costs and expenses Non-manageable costs and expenses increased by 12.7% in the quarter, reaching R$ 3,844.4 million in 3Q25, due to higher costs under the “energy purchased” item, which reflects the energy supply and demand balance of the National Interconnected Grid (SIN). The result was influenced by the Difference Settlement Price (PLD) and the financial indices used to adjust the prices of energy purchase contracts. In addition to pricing energy settlements in the CCEE spot market, the PLD also determines the expenses related to the hydrological risk (physical guarantee quotas, Itaipu and renegotiated plants) and other sector charges comprising the rate’s A parcel, entailing full pass - throughs to consumers. This item was also impacted by a net provision of R$ 12.9 million related to unoffset distributed generation energy, whose accounting recognition began in 4Q24. 3.2.2 Manageable operating costs and expenses Manageable costs and expenses rose by 1.4%, to R$ 970.9 million in the quarter. PMSO (Personnel, Materials, Services and Other) PMSO expenses increased by 7.9% (R$ 62.3 million), to R$ 848.4 million in the quarter, remaining below inflation in the period. See below PMSO expenses by distribution company: Combined PMSO Amounts in R$ million Quarter Accumulated 3Q25 3Q24 Change % 9M25 9M24 Change % Personnel and retirement benefits 375.5 336.7 + 11.5 1,109.3 1,003.5 + 10.5 Material 67.5 63.3 + 6.6 204.8 192.1 + 6.6 Outsourced services 399.9 358.4 + 11.6 1,096.4 1,046.0 + 4.8 Other 5.5 27.7 - 80.2 50.3 116.8 - 56.9 ✓ Contractual and regulatory penalties 0.6 0.8 - 22.8 1.3 1.7 - 25.3 ✓ Other 4.9 27.0 - 81.9 49.0 115.1 - 57.4 Total combined PMSO 848.4 786.1 + 7.9 2,460.7 2,358.3 + 4.3 IPCA / IBGE (12 months) 5.17% IGPM / FGV (12 months) 2.82% The main changes in PMSO expenses are detailed below:
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29 ENERGISA GROUP EARNINGS RELEASE 3Q25 ✓ Personnel and Retirement Benefits In the quarter, personnel and post -employment benefits were R$ 375.5 million, an increase of 11.5% (+R$ 38.8 million), mainly explained by the following factors: (i) +R$ 38.8 million reflecting the collective agreements and adjustments, higher termination costs and headcount growth due to insourcing ✓ Material Material expenses reached R$ 67.5 million in 3Q25, an increase of 6.6% (+R$ 4.2 million) compared with 3Q24, mainly due to: (i) + R$ 1.5 million on grid and equipment maintenance expenses (ii) + R$ 1.2 million in office material expenses (iii) + R$ 1.1 million on fuel and lubricant expenses (iv) + R$ 1.0 million in fleet maintenance expenses. ✓ Services Expenses on outsourced services amounted to R$ 399.9 million, an increase of 11.6% (+ R$ 41.5 million), primarily due to: (i) + R$ 16.2 million on corrective and preventive maintenance expenses (ii) + R$ 9.2 million on attorneys' fees (iii) + R$ 6.7 million on IT services (iv) + R$ 6.8 million on Intercompany services ✓ Other expenses Other expenses amounted to R$ 5.5 million in the quarter, a decrease of 80.2% ( -R$ 22.2 million) compared with the same period last year, mostly due to the reimbursement of the Fuel Consumption Account (CCC) totaling R$ 18.0 million in the period. See this and other tables in Excel available on this link. 3.2.3 Other operating expenses The group other operating expenses amounted to R$ 586.7 million in the quarter, against R$ 572.7 million in the same period last year, an increase of R$ 2.5%. Other expenses - combined Amounts in R$ million Quarter Accumulated 3Q25 3Q24 Change % 9M25 9M24 Change % Provisions/Reversals 125.1 174.3 - 28.2 462.7 479.2 - 3.4 Legal claims 31.0 89.6 - 65.4 113.2 163.3 - 30.7 Expected credit losses for doubtful accounts 94.2 84.7 + 11.2 349.5 315.9 + 10.6 Other revenue/expenses 461.6 398.4 + 15.9 1,340.2 1,150.9 + 16.4 Amortization and depreciation 381.4 327.5 + 16.4 1,115.9 949.6 + 17.5 Other revenue/expenses 80.2 70.9 + 13.2 224.3 201.3 + 11.4 Total combined 586.7 572.7 + 2.5 1,802.8 1,630.1 + 10.6 Legal claims In 3Q25, the legal claims item recorded R$ 31.0 million, a 65.4% decrease ( -R$ 58.6 million) compared to the same quarter last year, due to the following key movements: (i) execution of significant civil settlement agreements with an impact totaling R$ 36. 9 million (ERO – R$ 18.4 million, EMT – R$ 13.0 million, and ETO – R$ 5.5 million).
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30 ENERGISA GROUP EARNINGS RELEASE 3Q25 Expected credit losses for doubtful accounts (“PPECLD”) The PPECLD was R$ 94.2 million in 3Q25, an increase of 11.2% (+R$ 9.5 million) compared with the R$ 84.7 million in 3Q24. For further information see item 3.1.5.2 of this report. Other revenue/expenses Other net expenses stood at R$ 80.2 million in 3Q24, an increase of 13.7% (R$ 9.4 million) over the same period the previous year, primarily due to higher asset retirements (derecognition) in the concessions ETO and EMT. 3.3 EBITDA The combined recurring adjusted EBITDA of the DisCos (excluding VNR) amounted to R$ 1,776.6 million in the quarter, an increase of 13.7% on the same quarter last year. Description Amounts in R$ million Quarter Accumulated 3Q25 3Q24 (1) Change % 9M25 9M24 (1) Change % EMR 57.3 56.3 + 1.7 201.9 172.2 + 17.3 ESE 146.7 106.0 + 38.4 417.3 343.8 + 21.4 EPB 176.4 172.6 + 2.2 577.5 562.3 + 2.7 EMT 513.9 426.7 + 20.4 1,381.0 1,398.8 - 1.3 EMS 268.3 294.0 - 8.8 859.8 909.3 - 5.4 ETO 264.3 191.5 + 38.0 655.2 544.6 + 20.3 ESS 104.5 88.0 + 18.8 313.3 260.7 + 20.2 ERO 185.9 150.9 + 23.2 660.6 486.8 + 35.7 EAC 59.3 77.2 - 23.2 195.6 176.4 + 10.9 Total combined 1,776.6 1,563.1 + 13.7 5,262.3 4,854.9 + 8.4 (1) The combined EBITDA for 3Q24 differs from the figure disclosed because it does not include the adjustment for the PLR provisi on and the Overcontracting provision at EAC, since these effects are recurring from 1Q25. Description Amounts in R$ million Quarter Accumulated 3Q25 3Q24 Change % 9M25 9M24 Change (=) Combined adjusted EBITDA 1,776.6 1,563.1 + 13.7 5,262.3 4,854.9 + 8.4 Provision for ERO’s RTE - - - (176.9) - - (=) Combined recurrent adjusted EBITDA 1,776.6 1,563.1 + 13.7 5,085.4 4,854.9 + 4.7 For more detailed information on the indicator changes by company, please see each DisCo's release. The EBITDA figures per company are in Appendix A3 .
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31 ENERGISA GROUP EARNINGS RELEASE 3Q25 3.4 Net income for the period The DisCos’ combined net income, excluding VNR, amounted to R$ 608.3 million in the quarter, a decrease of 10.9% on the same quarter last year, as shown below: Net Income Amounts in R$ million Quarter Accumulated 3Q25 3Q24 Change % 9M25 9M24 Change % EMR 7.9 13.8 - 42.7 49.4 41.9 + 17.7 ESE 83.1 62.9 + 32.0 235.1 184.3 + 27.6 EPB 87.1 113.6 - 23.3 307.9 347.0 - 11.3 EMT 166.0 191.8 - 13.5 495.1 634.6 - 22.0 EMS 69.4 111.3 - 37.6 263.3 356.4 - 26.1 ETO 139.1 106.2 + 31.0 314.8 299.4 + 5.1 ESS 33.9 25.0 + 35.3 97.2 80.9 + 20.2 ERO 6.0 21.8 - 72.7 24.9 82.0 - 69.6 EAC 15.8 35.1 - 54.9 29.5 53.2 - 44.5 Total 608.3 681.6 - 10.8 1,817.2 2,079.7 - 12.6 (1) The DisCos’ combined net income for 3Q24 differs from the figure disclosed because it does not include the adjustment for the PLR provision and the Overcontracting provision at EAC, since these effects are recurring from 1Q25. Amounts in R$ million Net income Quarter Accumulated 3Q25 3Q24 Change % 9M25 9M24 Change % (=) Adjusted combined net income for the period 608.3 681.6 - 10.8 1,817.2 2,079.7 - 12.6 Provision for ERO’s RTE (0.0) - - (185.0) - - (=) Adjusted recurrent combined net income for the period 608.3 681.6 - 10.8 1,632.2 2,079.7 - 21.5
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32 ENERGISA GROUP EARNINGS RELEASE 3Q25 4. TRANSMISSION 4.1 Consolidated economic and financial results - Corporate vs. Regulatory Main impacts on corporate results ETE's consolidated corporate economic and financial performance has been summarized below: IFRS Economic and Financial Performance Results - R$ million Quarter Accumulated 3Q25 3Q24 Change % 9M25 9M24 Change % Infrastructure construction revenue 76.3 141.2 - 45.9 194.4 344.1 - 43.5 Efficiency gain on implementing infrastructure 11.4 12.6 - 9.5 19.7 5.1 + 286.3 Revenue from construction performance obligation margins 23.4 27.3 - 10.1 47.4 100.4 - 52.8 Operation and maintenance revenue 19.3 16.8 + 14.2 54.0 50.6 + 6.7 Concession asset remuneration 160.7 146.9 + 9.3 697.4 653.5 + 6.7 Other operating revenue 21.2 15.1 + 40.6 68.0 56.7 + 20.0 Total of gross revenue 312.3 359.9 - 13.2 1,080.9 1,210.4 - 10.7 Deductions from revenue (26.7) (25.6) + 4.0 (91.1) (90.6) + 0.5 Net operating revenue 285.6 334.3 - 14.5 989.8 1,119.8 285.6 Construction cost (72.6) (135.2) - 46.3 (185.0) (330.7) - 44.1 Gross margin 213.0 199.2 + 13.8 p.p. 804.9 789.1 + 15.8 p.p. PMSO (33.8) (62.3) - 45.8 (94.7) (166.9) - 43.2 Other operating expenses (1) (0.2) 4.9 - (2.7) 8.2 - Depreciation/Amortization (0.4) (0.4) - 13.6 (1.3) (1.4) - 6.0 Finance income/loss (66.8) (66.3) + 0.7 (277.2) (250.1) + 10.9 Income and social contribution taxes (19.9) (13.1) + 51.9 (77.8) (95.8) - 18.8 Net income for the period 92.0 61.9 + 48.6 351.1 283.2 + 24.0 EBITDA 179.0 141.7 + 26.3 707.4 630.4 + 12.2 EBITDA Margin (%) 62.7 42.4 + 20.3 p.p. 71.5 56.3 + 15.2 p.p. (1) It includes provisions and reversals for labor, civil, regulatory, environmental and tax contingencies and other revenue/expe nses. ➢ Net operating revenue reached R$ 285.6 million, a 14.5% decrease compared to the previous year, mainly due to the drop in construction revenue resulting from lower investment during the period in the EAM and EAM II concessions and commissioning of ETT II a nd EAP. This effect was partially offset by progress in the construction of the EMA concession and the capitalization of REA 11.996 from LMTE (R$ 24.0 million). ➢ PMSO in 3Q25 totaled R$ 33.8 million, a 45.8% reduction compared to 3Q24, reflecting efficient management of the company’s operating costs through the insourcing of O&M activities, which led to a R$ 12.4 million reduction in outsourced services and spendin g on infrastructure improvements in 2024 that did not occur in 3Q25. ➢ EBITDA amounted to R$ 179.0 million in 3Q25, an increase of 26.3% on the same period last year due to the PMSO reduction. Main impacts of the regulatory result Note: This section presents the regulatory results of the Company’s transmission segment. The regulatory results aim to present an analysis of the regulatory/managerial performance of the TransCos, in accordance with transmission sector practices. It shoul d not therefore be considered an official economic and financial report of the Company for the Brazilian Securities Commission (CVM), which follows the IFRS standards issued by the International Accounting Standards Board (IASB). The Regulatory Financial S tatements (DCRs) presented here are audited annually by April 30 each financial year upon submission of the regulatory financial statements to ANEEL. Matters specifically related to the regulatory accounting disclosed before the conclusion of the DCRs are subject to change. ETE's consolidated regulatory economic and financial performance has been summarized below:
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33 ENERGISA GROUP EARNINGS RELEASE 3Q25 Regulatory Economic and Financial Performance Results - R$ million Quarter Accumulated 3Q25 3Q24 Change % 9M25 9M24 Change % Annual permitted revenue 226.1 193.0 + 17.2 641.2 594.4 + 7.9 Total of gross revenue 226.1 193.0 + 17.2 641.2 594.4 + 7.9 Deductions from revenue (23.5) (20.7) 13.5% (67.7) (63.2) 7.1% Net operating revenue 202.6 172.3 + 17.6 573.4 531.2 + 8.0 PMSO (33.8) (45.4) - 25.6 (92.5) (127.1) - 27.3 Other operating expenses (1) (0.2) 4.2 - (2.7) 6.1 - Amortization/Depreciation (48.0) (47.7) + 0.7 (143.4) (142.0) + 0.9 Finance income/loss (66.8) (66.3) + 0.7 (277.2) (249.9) + 10.9 Income and social contribution taxes (10.2) (12.2) - 16.1 7.3 (33.9) - Regulatory net income (loss) 43.6 4.9 + 781.5 65.0 (15.7) - Regulatory EBITDA 168.6 131.1 + 28.6 478.3 410.1 + 16.6 EBITDA Margin (%) 83.2 76.1 + 7.1 p.p. 83.4 77.2 + 6.2 p.p. (1) It includes provisions and reversals for labor, civil, regulatory, environmental and tax contingencies and other revenue/expe nses. ➢ Energisa Transmissão de Energia (ETE) reported a regulatory EBITDA of R$ 168.6 million, an increase of R$ 37.5 million compared to 3Q24. The growth was mainly driven by net operating revenue, which reached R$ 202.6 million, reflecting both the rate adjustm ent of the Annual Permitted Revenue (RAP) for the 2025/2026 rate-setting round and the commissioning of new assets. In addition, the company continues to demonstrate cost management efficiency, with a R$ 11.6 million reduction in PMSO expenses, supported b y the insourcing of operation and maintenance activities. 5. (RE)ENERGISA (re)energisa is the group's brand that represents its unregulated operations, including decentralized generation services from renewable sources (Alsol Energias Renováveis), energy and gas marketing (Energisa Comercializadora and Clarke Energia) in the fre e market and added value services (Energisa Soluções). Given an increasingly competitive market with multiple offers, the Group’s diversification strategy includes offering an ecosystem of energy solutions to our customers. The brand also materializes the company’s one -stop shop approach to the market. The company’s strategy is to spearhead the energy transformation, connecting people and companies to the best energy solutions in a sustainable and low -carbon economy. 5.1 Distributed generation Alsol is the group’s company that is primarily engaged in decentralized generation from solar farms connected to existing distribution grids using the electricity offsetting system introduced by Law 14.300/2022. The company builds and operates proprietary solar plants, in addition to developing proprietary systems for controlling and monitoring the various generation units, resulting in higher electricity productivity above that initially planned for each plant. The solar farms are intended for small - and middle-market businesses, and medium -size businesses and individuals purchasing low -voltage energy in the form of a joint -venture.
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34 ENERGISA GROUP EARNINGS RELEASE 3Q25 At the end of September 2025, Alsol's solar portfolio grew to 125 solar power plants (UFVs) in operation, totaling 467 MWp of capacity. See the table with installed capacity by region: DisCo Plants MWp Minas Gerais 66 203.89 Mato Grosso 19 93.63 Rio de Janeiro 5 13.53 São Paulo 9 42.87 Mato Grosso do Sul 17 82.44 Ceará 4 12.86 Maranhão 1 4.81 Pernambuco 3 6.77 Piauí 1 6.29 Total 125 467.08 The segment's economic and financial performance has been summarized below: Distributed Generation Amounts in R$ million Quarter Accumulated 3Q25 3Q24 Change % 9M25 9M24 Change % (=) Net revenue 87.6 84.4 + 3.8 255.7 264.1 - 3.2 (-) CUSD (16.4) (11.2) + 45.9 (43.8) (32.0) + 36.9 (-) PMSO (25.9) (38.9) - 33.4 (87.2) (100.2) - 13.0 (+) Other costs and expenses (2.2) 0.4 - (5.6) (6.8) - 18.8 (=) EBITDA 43.2 34.7 + 24.3 119.1 125.1 - 4.7 (+) Amortization and depreciation (24.2) (19.1) + 26.5 (68.0) (61.6) + 10.5 (+/-) Financial income/loss (59.6) (32.9) + 80.9 (149.7) (85.3) + 75.5 (+/-) IR/CSLL 14.5 6.4 + 126.6 34.8 8.9 + 289.8 (=) Net income (loss) for the period (26.1) (10.9) + 138.6 (63.8) (12.9) + 396.1 The distributed generation arm of (re)energisa posted net revenue of R$ 87.6 million in 3Q25, a 3.8% increase compared to 3Q24. This result reflects the expansion of the sales plan and the effectiveness of maintaining a commercial policy focused on preserv ing long -term product margins in a market currently experiencing a temporary increase in distributed generation (DG) supply. Operational indicators also contributed to the performance, showing improvement quarter over quarter: churn dropped from 4.41% to 3 .00%, a 31.97% reduction, while delinquency (PDD) fell from 4.75% to 3.00%, a 36.84% decline. Additionally, sales volume in the quarter was 60% higher than in the same period last year, reflecting improved operational efficiency and the maturity of the commercial planning strategy implemented throughout 2025. Combined CUSD and PMSO totaled R$ 42.3 million, down 15.6% compared to 3Q24, reflecting more effective OPEX management by the operational and administrative teams. The EBITDA in 3Q25 was R$ 43.2 million, an increase of 24.3% on the R$ 34.7 million in the same period last year. The financial result was impacted by a 20.6% increase in net debt compared to 3Q24, with the average cost of net debt in 3Q25 reaching 13.8% per year, 142 bps higher than the 12.4% per year recorded in the same period of 2024. The loans and borrowings secured for Alsol are detailed in notes 20 and 21 of the Financial Statements.
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35 ENERGISA GROUP EARNINGS RELEASE 3Q25 5.2 Electricity marketing Disclaimer: Since 2Q25, Clarke's results have been incorporated into the Trading Company’s results to align with the nature of the business. They were previously classified under “Holding/Other.” To facilitate a comparative analysis, this adjustment was al so applied to the 2024 results. It is important to note that this change does not impact Energisa’s consolidated result, as it is merely a reclassification between P&L items. In the third quarter of 2025 (3Q25), the hydrological scenario was slightly better than in the same period of 2024 (3Q24). Although the Natural Energy Feed (ENA) levels remained among the lowest on record, 3Q25 benefited from a less adverse wet season than in 2024. As a result, reservoir storage levels were also higher compared to the previous year. However, changes in the PLD (Settlement Price for Differences) modeling, which increased risk aversion, led to a rise in the PLD to R$ 252.43/MWh during the per iod. In 3Q25, energy revenue grew by 46.3%, driven by the acquisition of new clients and strategic trading operations. Regarding retail migrations, 3Q25 recorded the entry of 80 consumer units, compared to 77 units in 3Q24. As a result, by the 3 rd quarter of 2025, a total of 462 migrations had been recorded, representing a 79.1% increase compared to the same period in the previous year (258 migrations in 3Q24), reinforcing the company’s growth strategy in this segment. Description Amounts in GWh Quarter Accumulated 3Q25 3Q24 Change % 9M25 9M24 Change % Sales to free consumers (ECOM) 2,658 2,679 - 0.8 6,847 5,207 + 31.5 Comercializadora’s economic and financial performance has been summarized below: Trader Quarter Accumulated Amounts in R$ million 3Q25 3Q24 Change % 9M25 9M24 Change % (=) Net Revenue 491.0 326.6 + 50.3 1,152.0 633.4 + 81.9 Electricity purchases (501.4) (318.2) + 57.6 (1,149.1) (584.8) + 96.5 Spread (10.4) 8.4 - 2.8 48.6 - 94.2 MtM effect 10.5 (14.0) - (57.8) (186.5) - 69.0 PMSO (10.8) (14.7) - 26.4 (32.4) (41.7) - 22.3 Other revenue/expenses (0.0) (0.0) - 93.3 (0.5) 11.3 - EBITDA (10.7) (20.3) - 47.1 (87.9) (168.3) - 47.8 Depreciation and amortization (0.4) (0.1) + 213.9 (0.6) (0.3) + 121.8 Finance income/loss 0.1 (2.1) - 0.0 (5.9) - IR and CSLL on net income (reported) 3.1 7.1 - 56.3 28.2 58.1 - 51.5 Net income (loss) (7.9) (15.4) - 48.5 (60.3) (116.3) - 48.2 See below the adjusted EBITDA and adjusted Net Income of the Trading Company, excluding the MTM effect for the period: EBITDA Trader Amounts in R$ million Quarter Accumulated 3Q25 3Q24 Change % 9M25 9M24 Change % (=) EBITDA (10.7) (20.3) - 47.1 (87.9) (168.3) - 47.8 Mark-to-market (MTM) (10.5) 14.0 - 57.8 186.5 - 69.0 (=) Recurrent adjusted EBITDA (21.2) (6.3) + 239.7 (30.1) 18.2 -
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36 ENERGISA GROUP EARNINGS RELEASE 3Q25 Net Income Trader Amounts in R$ million Quarter Accumulated 3Q25 3Q24 Change % 9M25 9M24 Change % (=) Net income/(loss) for the period (7.9) (15.4) - 48.5 (60.3) (116.3) - 48.2 Mark-to-market (MTM) (6.9) 9.3 - 38.1 123.1 - 69.0 (=) Net income/(loss) for the period (14.8) (6.1) + 143.0 (22.1) 6.8 - The Energy trader recorded a spread of -R$ 10.4 million, a R$ 18.9 million decrease compared to 3Q24. Net revenue grew by 50.3% year over year, despite the -4.6% decrease in volume and a +52.2% rise in trading prices during the period. In 3Q25, the contracts’ mark -to-market was a positive R$ 10.5 million, an increase of R$ 24.5 million without cash effect, related to price increases and portfolio position as a reversal effect on profit or loss. The item PMSO decreased by R$ 3.9 million compared to the same period the previous year, due to optimizing expenses to form the trading company's structure. EBITDA in 3Q25 improved by 47.1% compared to 3Q24, supported by the aforesaid factors, including spread, PMSO and the positive MTM effect. However, when excluding the MTM effect, recurring adjusted EBITDA showed a decrease of R$ 14.8 million compared to 3Q 24, reflecting the impact on the spread, driven by the relationship between energy prices and the volume exposed. 5.3 Added value services Energisa Soluções is the Group company engaged in providing added value services to medium and high voltage customers across Brazil. These services generate benefits for our customers through improvements and streamlining of energy processes, thereby reduc ing costs and improving their operational levels. This business line includes services such as O&M (operation and maintenance of electric assets), Energy Efficiency and Automation of energy processes. The segment's economic and financial performance has been summarized below: Added value services Amounts in R$ million Quarter Accumulated 3Q25 3Q24 Change % 9M25 9M24 Change % Net revenue 56.7 68.7 - 17.5 156.5 226.8 - 31.0 PMSO (49.6) (62.3) - 20.3 (138.4) (204.1) - 32.2 Other costs and expenses 1.1 (0.3) + 0.0 (0.4) (0.4) + 0.2 EBITDA 8.2 6.2 + 32.6 17.6 22.2 - 20.8 Amortization and depreciation (3.8) (3.8) - 0.0 (11.3) (11.6) - 2.4 Finance income/loss 1.2 (0.0) + 0.0 4.6 (0.1) + 0.0 Income Tax/Social Contribution (2.1) (1.1) + 97.5 (4.0) (3.9) + 2.1 Net income (loss) for the period 3.5 1.3 + 167.9 6.9 6.7 + 3.4 Net revenue in 3Q25 declined compared to the same period of the previous year, due to the restructuring of the service portfolio, with the company retaining only contracts aligned with (re)energisa’s expansion strategy. In PMSO, there was a R$ 12.7 million reduction compared to 3Q24, mainly reflecting the optimization of expenses and the restructuring mentioned above. Additionally, other costs and expenses totaled +R$ 1.4 million, which positively contributed to the EBITD A result. Year to date, despite a decrease in EBITDA compared to the same period of the previous year due to the company’s resizing, the financial result for 3Q25 showed an improvement of R$ 1.2 million compared to 3Q24. This positive performance was mainly driven b y increased cash availability allocated to financial instruments, reflecting more efficient liquidity management. As a result, net income for the quarter was in line with 3Q24.
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37 ENERGISA GROUP EARNINGS RELEASE 3Q25 6. CENTRALIZED GENERATION Energisa Group engages in centralized generation through the photovoltaic plants Energisa Geração Central Solar Rio do Peixe I and Energisa Geração Central Solar Rio do Peixe II, located in Paraíba state, with an installed capacity of 70 MWp. The ventures have global clean energy certificates (I -REC), which add value to the Megawatt generated and confirms the energy comes from renewable sources. The segment's economic and financial performance has been summarized below: Rio do Peixe I e II Amounts in R$ million Quarter 3Q25 3Q24 Change % 9M25 9M24 Change % Net revenue 7.4 7.3 + 2.2 22.5 23.6 - 4.7 PMSO (0.8) (0.5) + 64.4 (2.9) (2.8) + 5.0 Other costs and expenses (2.1) (1.4) + 48.0 (5.2) (4.1) + 29.3 EBITDA 4.4 5.3 - 16.4 14.4 16.8 - 14.6 Amortization and depreciation (3.6) (3.6) + 0.0 (10.7) (10.6) + 1.3 Finance income/loss (1.6) (2.6) - 39.6 (6.7) (8.5) - 21.3 Income and social contribution taxes 0.2 (0.0) - 0.8 (1.9) - Net loss (0.6) (0.9) - 39.1 (2.3) (4.2) - 45.0 In 3Q25, the Company recorded net revenue of R$ 7.4 million, in line with the figure reported in 3Q24. PMSO increased by 64.4% due to higher energy purchase costs, partially offset by the insourcing of the operation and maintenance (O&M) structure. EBITD A reached R$ 4.4 million for the period, a decrease of R$ 0.9 million in the quarter, and net loss was R$ 0.6 million, a 39.1% reduction compared to 3Q24. 7. NATURAL GAS DISTRIBUTION 7.1 Overview Energisa Distribuidora de Gás (EDG) is responsible for Energisa Group’s expansion into the natural gas sector. See below the corporate structure chart, illustrating EDG’s control structure within Energisa Group: 100% EDG 50.5% 41.5% 29.4% 29.4% 83% EDGNE 100% 51% Energisa Distribuidora de Gás Energisa Distribuidora de Gás Nordeste
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38 ENERGISA GROUP EARNINGS RELEASE 3Q25 ➢ ES Gás plays a strategic role in the expansion of natural gas infrastructure in Espírito Santo, contributing to the energy transition through innovative and sustainable solutions. The company supplies over 90,400 consumer units and operates an extensive network of approximately 606 km, ensuring an efficient and safe natural supply in the region. Responsible for distributing piped natural gas in the state, ES Gás is serving various sectors, including residential, commercial, industrial, automotive, climate control , cogeneration and thermoelectric generation. For more information, please refer to the ES Gás Release. ➢ Through Norgás, Energisa holds equity interests in key natural gas distribution companies in the Northeast region. The Group is involved in the operations of Algás (Gás de Alagoas), Cegás (Companhia de Gás do Ceará), Copergás (Companhia Pernambucana de Gás), and Potigás (Companhia Potiguar de Gás), which serve the states of Alagoas, Ceará, Pernambuco, and Rio Grande do Norte, respectively. Through this strategy, Norgás strengthens Energisa Group’s presence in the natural gas market, expanding its operations and contributing to the region’s energy development. The DisCos jointly serve 259,200 consumer units in total. 7.2 Summary of direct and indirect interests Local Piped Gas Distribution Companies (CDL) Interest (%) Norgás(1) EDG Energisa(2) Es Gás - 100(1) 86.2 Norgás Copergás 41.5 50.5(2) 21.0 Cegás 29.4 50.5(2) 14.8 Algás 29.4 50.5(2) 14.8 Potigás 83.0 50.5(2) 41.9 The interests shown in the table are direct (1) or indirect (2). 7.3 Financial Information See below, the equity income equivalence result and its impact on Energisa Group’s consolidated financials, related to the companies controlled by Norgás. The figures consider the period from June to August 2025 for 3Q25, and from December 2024 to August 2025 for the year -to-date 2025, highlighting the performance evolution of the investees throughout the fiscal year. Equity income by CDL Amounts in R$ millions 3Q25 9M25 Copergás 13.6 46.2 Cegás 3.8 11.9 Algás 2.8 9.6 Potigás 5.2 10.9 Total 25.4 78.6 (1) The share of profit (loss) of equity -accounted investees covers the period from June to August 2025 for the quarter, and from December 2024 to August 2025 for YTD 2025.
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39 ENERGISA GROUP EARNINGS RELEASE 3Q25 See below a summary of the economic and financial performance of ES Gás and Norgás (*): Description ES GÁS NORGÁS (1) Quarter Accumulated Quarter Amounts in R$ million 3Q25 3Q24 Chang e % 9M25 9M24 Chang e % 3Q25 3Q24(2) Change % 9M25 9M24 Change % Net revenue (3) 187.8 431.5 - 56.5 497.8 1,282.2 - 61.2 681.7 742.9 - 8.2 2,064.3 2,169.6 - 4.9 Gross Margin 80.4 68.5 + 17.3 188.7 195.8 - 3.7 143.5 118.0 + 21.6 419.2 385.4 + 8.8 PMSO 19.2 19.6 - 1.7 55.5 54.0 + 2.9 (58.7) (53.4) + 10.0 (185.3) (182.3) + 1.6 EBITDA 62.5 49.5 + 26.3 135.6 153.0 - 11.4 85.4 66.8 + 28.0 255.4 259.7 -1.6 Finance income/loss (27.0) (20.1) + 34.6 (73.9) (45.5) + 62.5 12.8 10.2 + 26.1 41.0 48.8 -16.1 Net income/loss 11.0 8.6 + 28.2 2.4 5.2 + 39.0 63.3 44.3 + 42.8 204.6 205.6 - 0.5 Investments 28.3 21.6 + 30.8 64.5 46.4 + 39.1 49.1 48.6 + 1.0 158.4 167.6 - 5.5 (1) The amounts are equal to 100% of CDL's result. (2) 3Q24 covers the period from June to August 2024, while 3Q25 covers June to August 2025. (3) Net revenue, without construction revenue Es Gás Highlights: • Gross margin, excluding the effects of the PGU (excess gas price), increased by 32.1% in 3Q25, totaling R$ 80.4 million. This variation was mainly driven by the increase in volume (+14.2%) and the adjustment of the average distribution margin to R$ 0.4702/m³ (+56.7%), effective as of August 2025. • ES Gás ended the second quarter of 2025 with a total of 90,377 consumer units , an increase of 8.5% on the previous year. The result reflects the continued efforts to expand the customer base and strengthen market presence. • The total volume of natural gas distributed reached 207,022,000 m³, up 14.2% on the same period last year. The result was mainly driven by growth in the industrial (+15.8%), residential (+15.1%) and commercial (+10.4%) segments. Norgás Highlights: • In 3Q25, the natural gas distributors (CDLs) recorded a 21.5% increase in Gross Margin, reaching R$ 143.4 million, driven by a lower gas acquisition cost. Net Revenue declined by 8.2%, totaling R$ 681.8 million in 3Q25, due to a 3.1% contraction in volumes from the industrial and automotive (CNG) segments. On the other hand, operating costs (PMSO) rose by 10.0%, mainly due to higher personnel expenses and regulatory fees. For detailed information on the companies, please refer to the links below. ➢ Es Gás: See the information here ➢ Norgás: See the release here
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40 ENERGISA GROUP EARNINGS RELEASE 3Q25 8. FOLLOWING UP ON THE COMPANY’S PROJECTIONS Comment on the Performance of Individual and Consolidated Corporate Projections Pursuant to article 21 (4) of CVM Resolution no. 80/22, see below the comparisons of the projections disclosed by the Company with the actual performance data until 3Q25: (i) Projections of the commitments related to the sustainability of the business, addressing environmental, social and governance ("ESG") matters the Company disclosed to the market on June 29, 2022: Topic Unit Projection through the period ended December 31, 2026 Accumulated through September 30, 2025 Clean and affordable electricity for remote concession areas no. of consumer units 55,000 53,600 Decommissioning and deactivating thermal power plants MW 171.7 195(a) Installing renewable energy capacity GW 0.6 0.543 (a) In 2024, we successfully completed the scheduled decommissioning of all thermal power plants in the Legal Amazon, two years ahead of the original commitment set for 2026. (ii) Greater participation of other business lines in Consolidated EBITDA, disclosed to the market on November 21, 2022: Topic Unit Projection through the period ended December 31, 2026 Position at September 30, 2025 (1) Participation of other Company business lines in addition to electricity distribution in Consolidated EBITDA % of Consolidated EBITDA By 25 19.5 (b) Includes Adjusted EBITDA Covenant 12 months (iii) Estimated investment disclosed to the market on December 19, 2022: Topic Unit Projection through the period ended December 31, 2026 Accumulated as of September 30, 2025 Estimate investment R$ billion 24.0 23.9 9. SUBSEQUENT EVENTS 9.1 Tariff Flag ANEEL has established the application of the Red Tariff Flag Level 1 for electricity distribution companies for the months of October and November 2025, based on analyses of the country’s hydrological conditions . 9.2 Energization of the Oriximiná Reinforcement – LMTE On October 17, 2025, the indirect subsidiary LMTE energized the Large -Scale Reinforcement authorized to increase the installed capacity at the Oriximiná substation. The reinforcement project, located in Pará, involved the installation of the second bank of single-phase autotransformers (TR2) 500/138 -13.8 kV with 150 MVA. The project was completed 30 months after the publication of Authorizing Resolution REA No. 14,314, within the regulatory deadline. Approximately R$57.7 million were invested, and the proje ct adds R$7.7 million in Annual Permitted Revenue (RAP) to the Group’s portfolio . 9.3 Contracted Loans On October 7, 2025, the subsidiary EPB received R$107,500, corresponding to the second installment of financing contract No. 23.2.0334 -1 with BNDES, signed on February 6, 2024 .
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41 ENERGISA GROUP EARNINGS RELEASE 3Q25 On October 7, 2025, the subsidiary ERO received R$37,500, corresponding to the second installment of financing contract No. 23.203.335 -1 with BNDES, signed on February 6, 2024 . 9.4 Debenture Issuances – Subsidiaries On November 6, 2025, the subsidiary EPB carried out its 17th issuance of incentivized debentures totaling R$495,000 in two series: (i) the 1st series in the amount of R$297,000, with a 10 -year term, bullet amortization, and a cost of NTN-B35 minus 0.37% p.a.; (ii) the 2nd series in the amount of R$198,000, with a 15 -year term, annual amortization starting in the 13th year, and a cost of NTN -B40 minus 0.34% p.a. On November 6, 2025, the subsidiary EMT carried out its 26th issuance of incentivized debentures totaling R$330,000 in two series: (i) the 1st series in the amount of R$ 198,000, with a 10 -year term, bullet amortization, and a cost of NTN-B35 minus 0.37% p.a.; (ii) the 2nd series in the amount of R$132,000, with a 15 -year term, annual amortization starting in the 13th year, and a cost of NTN -B40 minus 0.34% p.a. On November 6, 2025, the subsidiary EMR carried out its 19th issuance of incentivized debentures totaling R$265,000 in two series: (i) the 1st series in the amount of R$159,000, with a 10 -year term, bullet amortization, and a cost of NTN-B35 minus 0.37% p.a.; (ii) the 2nd series in the amount of R$106,000, with a 15 -year term, annual amortization starting in the 13th year, and a cost of NTN -B40 minus 0.34% p.a.. . On November 6, 2025, the subsidiary ESS carried out its 15th issuance of incentivized debentures totaling R$240,000 in two series: (i) the 1st series in the amount of R$144,000, with a 10 -year term, bullet amortization, and a cost of NTN-B35 minus 0.37% p.a.; (ii) the 2nd series in the amount of R$96,000, with a 15 -year term, annual amortization starting in the 13th year, and a cost of NTN -B40 minus 0.34% p.a. . On November 6, 2025, the subsidiary ERO carried out its 14th issuance of incentivized debentures totaling R$440,000 in two series: (i) the 1st series in the amount of R$264,000, with a 10 -year term, bullet amortization, and a cost of NTN-B35 minus 0.32% p.a.; (ii) the 2nd series in the amount of R$176,000, with a 15 -year term, annual amortization starting in the 13th year, and a cost of NTN -B40 minus 0.29% p.a . 9.5 Dividend Payments – Subsidiaries On November 6, 2025, the management of the subsidiaries approved the distribution of interim dividends based on the profit for the period ended September 30, 2025, as shown below : Subsidiary Dividend Amount Amount per Share (R$) Share Type Payment Date EPB 85.224 81.36051830 Common From 11/27/2025 ESE 150.625 770.42333105 Common From 11/27/2025 EMT 188.077 0.85902629 Common & Preferred 11/26/2025 EPA I 17.000 0.10927151 Common From 11/27/2025 EPA II 14.000 0.05017640 Common From 11/27/2025 EGO I 14.000 0.05381654 Common From 11/27/2025 ETT I 7.548 0.01342822 Common From 11/27/2025 EAP 3.666 0.02703907 Common From 11/27/2025 EPT 2.670 0.08611751 Common From 11/27/2025 REDE POWER 22.060 83.91332778 Common From 11/27/2025 REDE 160.000 0.07581776 Common 11/27/2025 DENERGE 110.000 141.65236192 Common From 11/27/2025 Management.
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42 ENERGISA GROUP EARNINGS RELEASE 3Q25 APPENDIX I – SUPPLEMENTARY INFORMATION A.1 Companies by business line Business line Companies and concepts ✓ Electricity distribution EPB, EMR, ETO, EMT, EMS, ESS, EAC, ERO and ESE ✓ Electricity transmission Consolidated Energisa Transmission, including the holding companies ETE Parent company and Gemini • (re)energisa (re)energisa is the group's brand tasked with managing and trading energy and gas in the free market, providing value-added services and distributed generation of renewable energy sources. • Distributed generation Consolidated Alsol • Electricity marketing Energisa Comercializadora and Clarke • Added value services Consolidated Energisa Soluções ✓ Natural gas distribution ES Gás ✓ Holding company and other Energisa Geração - Usina Maurício S/A, Energisa Geração Central Solar Rio do Peixe I S/A, Energisa Geração Central Solar Rio do Peixe II S/A, Parque Eólico Sobradinho LTDA., Energisa Geração Central Eólica Alecrim S/A, Energisa Geração Central Eólica Boa Esperança S/A, Energisa Geração Central Solar Coremas S/A, Energisa Geração Central Eólica Mandacaru S/A, Energisa Geração Central Eólica Umbuzeiro-Muquim S/A, Companhia Técnica de Comercialização de Energia S/A, Multi Energisa Serviços S/A, Energisa Serviç os Aéreos de Aeroinspeção S/A, Voltz Capital S/A, Energisa Planejamento e Corretagem de Seguros LTDA., Dinâmica Direitos Creditórios LTDA., QMRA - Participações S/A, Energisa S/A, Rede Energia Participações S/A, Denerge Desenvolvimento Energético S/A, Ener gisa Biogás S/A Consolidated, Rede Power Holding de Energia S/A, Energisa Participações Minoritárias S/A, Clarke Desenvolvimento de Software S/A, Energisa Geração Central Eólica Maravilha I S/A, Energisa Geração Central Eólica Maravilha II S/A, Energisa Ge ração Central Eólica Maravilha III S/A, Energisa Geração Central Eólica Maravilha IV S/A, Energisa Geração Central Eólica Maravilha V S/A, Norgás S/A and Infra Gás e Energia S/A. ✓ Intercompany eliminations Elimination of transactions carried out between Energisa group companies to avoid double counting of revenue, expenses, assets and liabilities. ✓ Business combination This denotes the realization of goodwill from business combinations recognized in accordance with IFRS 3 or CPC 15 (R1).
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43 ENERGISA GROUP EARNINGS RELEASE 3Q25 A.2 Net operating revenue - Consolidated Operating revenue by segment Description (R$ million) Quarter Accumulated 3Q25 3Q24 Change % 9M25 9M24 Change % (+) Electricity revenue (captive market) 6,624.6 6,540.9 + 1.3 19,736.1 20,763.6 - 4.9 ü Residential 3,644.0 3,463.9 + 5.2 11,090.3 11,187.8 - 0.9 ü Industrial 260.4 329.7 - 21.0 778.0 1,033.6 - 24.7 ü Commercial 1,098.1 1,160.3 - 5.4 3,326.4 3,801.9 - 12.5 ü Rural 800.2 790.4 + 1.2 2,171.1 2,309.0 - 6.0 ü Other sectors 822.0 796.8 + 3.2 2,370.2 2,431.4 - 2.5 (+) Electricity sales to distributors 206.4 174.7 + 18.1 675.0 234.3 + 188.1 (+) Net unbilled sales 132.1 42.1 + 214.0 71.9 (130.8) - (+) Sales by trading company (ECOM) 542.7 362.5 + 49.7 1,275.4 705.6 + 80.8 (+) Electricity network usage charges (TUSD) 1,072.1 833.2 + 28.7 2,948.2 2,362.1 + 24.8 (+) Infrastructure construction revenue 1,674.2 1,661.3 + 0.8 4,786.1 4,570.2 + 4.7 (+) Natural gas distribution revenue 196.6 530.9 - 63.0 532.8 1,586.8 - 66.4 (+) Creation and amortization of financial sector assets and liabilities 986.1 645.0 + 52.9 2,206.6 852.2 + 158.9 (+) Subsidies for services awarded under concession 878.1 611.3 + 43.6 2,289.0 1,664.3 + 37.5 (+) Restatement of the concession financial asset (VNR) 100.4 107.6 - 6.6 545.4 427.1 + 27.7 (+) Other revenue 227.6 207.9 + 9.5 593.5 592.3 + 0.2 (=) Gross Revenue 12,640.9 11,717.4 + 7.9 35,659.9 33,627.8 + 6.0 (-) Sales taxes (2,350.7) (2,241.5) + 4.9 (6,751.0) (6,755.4) - 0.1 (-) Sector charges (1,108.2) (895.3) + 23.8 (2,753.4) (2,715.1) + 1.4 (=) Net revenue 9,182.0 8,580.6 + 7.0 26,155.5 24,157.3 + 8.3 (-) Infrastructure construction revenue (1,674.2) (1,661.3) + 0.8 (4,786.1) (4,570.2) + 4.7 (=) Net revenue, without infrastructure construction revenue 7,507.8 6,919.3 + 8.5 21,369.4 19,587.2 + 9.1
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44 ENERGISA GROUP EARNINGS RELEASE 3Q25 A.3 EBITDA by company Description Amounts in R$ million Quarter Accumulated 3Q25 3Q24 Change % 9M25 9M24 Change % Electricity distribution 1,877.0 1,670.7 + 12.4 5,807.7 5,282.0 + 10.0 EMR 58.8 57.4 + 2.5 209.1 176.5 + 18.5 ESE 157.0 115.0 + 36.4 465.7 381.3 + 22.2 EPB 191.7 185.7 + 3.2 649.8 615.9 + 5.5 EMT 569.6 478.9 + 18.9 1,647.7 1,605.0 + 2.7 EMS 294.5 318.8 - 7.6 985.6 1,005.5 - 2.0 ETO 248.2 192.4 + 29.0 644.5 548.2 + 17.6 ESS 107.0 90.0 + 18.9 324.7 268.8 + 20.8 ERO 189.3 154.0 + 22.9 677.0 499.7 + 35.5 EAC 61.1 78.5 - 22.1 203.6 181.3 + 12.3 Electricity transmission (1) 179.0 141.7 + 26.3 707.4 630.4 + 12.2 EGO 12.0 10.8 + 11.3 47.3 43.8 + 8.0 EPA I 14.5 14.6 - 0.9 53.8 56.2 - 4.3 EPA II 12.0 20.9 - 42.5 48.8 55.4 - 11.9 ETT 17.7 5.0 + 250.6 78.4 63.8 + 22.9 EAM 10.7 28.1 - 62.1 71.4 87.6 - 18.5 EAM II 10.4 8.8 + 17.4 31.3 13.9 + 125.7 ETT II 1.6 5.2 - 68.8 5.6 10.7 - 47.7 EPT 2.6 2.8 - 9.0 11.7 10.6 + 10.6 EAP 4.5 7.3 - 38.0 15.0 29.7 - 49.5 EMA 12.3 - - 13.2 - - Gemini 62.1 16.1 + 286.8 273.5 198.0 + 38.1 ETE parent company 18.5 22.0 - 15.6 57.4 60.6 - 5.4 (re) energisa 40.6 20.6 + 97.2 48.9 (21.1) - Distributed generation 43.2 34.7 + 24.3 119.1 125.1 - 4.7 Electricity marketing (10.7) (20.3) - 47.1 (87.9) (168.3) - 47.8 Added value services 8.2 6.2 + 32.6 17.6 22.2 - 20.8 Natural gas distribution 62.5 49.5 + 26.3 135.6 153.0 - 11.4 Holding companies and other 32.1 (16.1) - 52.6 (34.3) - Business combination 1.0 9.3 - 89.0 13.6 168.0 - 91.9 EBITDA 2,192.3 1,875.7 + 16.9 6,765.8 6,178.0 + 9.5 Fine revenue 109.1 108.0 + 1.1 330.4 321.7 + 2.7 Adjusted EBITDA covenants 2,301.4 1,983.6 + 16.0 7,096.1 6,499.7 + 9.2 (1) ETE Consol considers the impacts of business combination through the acquisition of Gemini Group.
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45 ENERGISA GROUP EARNINGS RELEASE 3Q25 A.4 Profit (loss) per company Description Amounts in R$ million Quarter Accumulated 3Q25 3Q24 Change % 9M25 9M24 Change % Electricity distribution 687.8 767.7 - 10.4 2,435.0 2,421.4 + 0.6 EMR 8.9 14.5 - 38.5 54.1 44.8 + 21.0 ESE 91.8 70.6 + 30.0 276.1 216.0 + 27.8 EPB 100.0 124.7 - 19.8 369.2 392.4 - 5.9 EMT 213.2 236.1 - 9.7 721.1 809.3 - 10.9 EMS 86.7 127.7 - 32.1 346.3 419.9 - 17.5 ETO 125.5 107.0 + 17.3 305.7 302.5 + 1.1 ESS 35.5 26.3 + 34.7 104.7 86.3 + 21.4 ERO 8.8 24.5 - 63.8 222.2 92.9 + 139.3 EAC 17.3 36.3 - 52.2 35.6 57.5 - 38.1 Electricity transmission (1) 92.0 61.9 + 48.6 351.1 283.2 + 24.0 EGO 12.0 10.7 + 12.3 46.9 43.8 + 7.1 EPA I 10.1 9.9 + 1.7 41.7 42.8 - 2.6 EPA II 6.6 15.4 - 57.0 33.3 42.6 - 21.7 ETT 7.9 3.0 + 161.0 36.4 32.5 + 11.7 EAM 4.0 20.3 - 80.1 48.7 66.3 - 26.6 EAM II 9.4 7.5 + 25.3 28.5 13.2 + 116.5 ETT II 1.6 4.5 - 65.4 5.4 9.7 - 43.9 EPT 2.7 2.9 - 6.3 12.2 11.0 + 11.6 EAP 3.9 6.6 - 41.4 12.0 26.6 - 54.9 EMA 11.0 - - 11.8 - - Gemini 20.6 (6.2) - 98.8 52.5 + 88.1 ETE parent company 2.2 (13.0) - (24.6) (57.8) - 57.5 (re) energisa (30.5) (25.0) + 22.0 (117.2) (122.5) - 4.4 Distributed generation (26.1) (10.9) + 138.6 (63.8) (12.9) + 396.1 Electricity marketing (7.9) (15.4) - 48.6 (60.3) (116.3) - 48.2 Added value services 3.5 1.3 + 167.8 6.9 6.7 + 3.5 Natural gas distribution 11.0 8.6 + 28.2 5.2 39.0 - 86.8 Holding companies and other (48.9) (38.0) + 28.5 (315.6) (105.2) + 200.1 Business combination (62.9) (48.0) + 31.0 (193.6) 1.3 - Net income 648.4 727.1 - 10.8 2,164.9 2,517.1 - 14.0 (1) ETE Consol considers the impacts of business combination through the acquisition of Gemini Group.
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46 ENERGISA GROUP EARNINGS RELEASE 3Q25 A.5 Mirror debentures Private debentures of the DisCos with the Parent company Energisa S.A. Date Funds Raised Issuance value (R$ million) Debt Balance in June/25 Maturity Date Index Spread (p.a.) ESA 22 nd Issuance - CVM – 160 (1): 09/15/2024 730.00 764.1 09/15/2034 IPCA IPCA + 6.44% ✓ EAC 5 th Issuance 09/14/2024 115.0 120.4 09/14/2034 IPCA IPCA + 6.44% ✓ EAC 1 st Issuance 09/14/2024 100.0 104.7 09/14/2034 IPCA IPCA + 6.44% ✓ EMR 17 th Issuance 09/14/2024 100.0 104.7 09/14/2034 IPCA IPCA + 6.44% ✓ EMT 21 st Issuance 09/14/2024 50.0 52.3 09/14/2034 IPCA IPCA + 6.44% ✓ EPB 15 th Issuance 09/14/2024 45.0 47.1 09/14/2034 IPCA IPCA + 6.44% ✓ ERO 11th Issuance 09/14/2024 150.0 157.0 09/14/2034 IPCA IPCA + 6.44% ✓ ESS 13 th Issuance 09/14/2024 170.0 177.9 09/14/2034 IPCA IPCA + 6.44% ESA 20th Issuance - CVM – 160 (1): 04/15/2024 1,440.00 1,578.1 Series 1: 04/15/2031 Series 2: 04/15/2039 IPCA Series 1: IPCA + 6.16% Series 2: IPCA + 6.40% ✓ EMR 16 th Issuance 04/15/2024 150.0 164.4 Series 1: 04/13/2031 Series 2: 04/13/2039 IPCA Series 1: IPCA + 6.16% Series 2: IPCA + 6.40% ✓ EMT 19 th Issuance 04/15/2024 240.0 263.0 Series 1: 04/13/2031 Series 2: 04/13/2039 IPCA Series 1: IPCA + 6.16% Series 2: IPCA + 6.40% ✓ EMS 22nd Issuance 04/15/2024 180.0 197.3 Series 1: 04/13/2031 Series 2: 04/13/2039 IPCA Series 1: IPCA + 6.16% Series 2: IPCA + 6.40% ✓ ETO 11 th Issuance 04/15/2024 450.0 493.1 Series 1: 04/13/2031 Series 2: 04/13/2039 IPCA Series 1: IPCA + 6.16% Series 2: IPCA + 6.40% ✓ ERO 10th Issuance 04/15/2024 250.0 274.0 Series 1: 04/13/2031 Series 2: 04/13/2039 IPCA Series 1: IPCA + 6.16% Series 2: IPCA + 6.40% ✓ ESS 11 th Issuance 04/15/2024 50.0 54.8 Series 1: 04/13/2031 Series 2: 04/13/2039 IPCA Series 1: IPCA + 6.16% Series 2: IPCA + 6.40% ✓ ESE 13 th Issuance 04/15/2024 120.0 131.5 Series 1: 04/13/2031 Series 2: 04/13/2039 IPCA Series 1: IPCA + 6.16% Series 2: IPCA + 6.40% ESA 19th Issuance - CVM – 160 (1): 09/15/2023 1,227.0 1,345.3 Series 1: 09/15/2030 Series 2: 09/15/2033 IPCA Series 1: IPCA + 6.16% Series 2: IPCA + 6.45% ✓ ERO 8th Issuance 09/13/2023 200.0 219.3 Series 1: 09/13/2030 Series 2: 09/13/2033 IPCA Series 1 IPCA + 6.16% Series 2 IPCA + 6.45% ✓ EMR 15 th Issuance 09/13/2023 90.0 98.7 Series 1: 09/13/2030 Series 2: 09/13/2033 IPCA Series 1 IPCA + 6.16% Series 2 IPCA + 6.45% ✓ EMT 16 th Issuance 09/13/2023 150.0 164.5 Series 1: 09/13/2030 Series 2: 09/13/2033 IPCA Series 1 IPCA + 6.16% Series 2 IPCA + 6.45% ✓ ESS 10 th Issuance 09/13/2023 42.0 46.1 Series 1: 09/13/2030 Series 2: 09/13/2033 IPCA Series 1 IPCA + 6.16% Series 2 IPCA + 6.45% ✓ ETE 6th Issuance 09/13/2023 90.0 98.7 Series 1: 09/13/2030 Series 2: 09/13/2033 IPCA Series 1 IPCA + 6.16% Series 2 IPCA + 6.45% ✓ EPB 12 th Issuance 09/13/2023 145.0 159.0 Series 1: 09/13/2030 IPCA Series 1 IPCA + 6.16%
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47 ENERGISA GROUP EARNINGS RELEASE 3Q25 Private debentures of the DisCos with the Parent company Energisa S.A. Date Funds Raised Issuance value (R$ million) Debt Balance in June/25 Maturity Date Index Spread (p.a.) Series 2: 09/13/2033 Series 2 IPCA + 6.45% ✓ EAC 4 th Issuance 09/13/2023 142.0 155.7 Series 1: 09/13/2030 Series 2: 09/13/2033 IPCA Series 1 IPCA + 6.16% Series 2 IPCA + 6.45% ✓ ESE 12 th Issuance 09/13/2023 90.0 98.7 Series 1: 09/13/2030 Series 2: 09/13/2033 IPCA Series 1 IPCA + 6.16% Series 2 IPCA + 6.45% ✓ EMS 20th Issuance 09/13/2023 200.0 219.3 Series 1: 09/13/2030 Series 2: 09/13/2033 IPCA Series 1 IPCA + 6.16% Series 2 IPCA + 6.45% ✓ ETO 10 th Issuance 09/13/2023 78.0 85.5 Series 1: 09/13/2030 Series 2: 09/13/2033 IPCA Series 1 IPCA + 6.16% Series 2 IPCA + 6.45% ESA 16 th Issuance - CVM 476: 04/15/2022 500.0 590.9 Series 1: 04/15/2029 Series 2: 04/15/2032 IPCA Series 1: IPCA + 6.16% Series 2: IPCA + 6.28% ✓ ERO 7th issuance 04/15/2022 410.0 484.6 Series 1: 04/13/2029 Series 2: 04/13/2032 IPCA Series 1 IPCA + 6.16% Series 2 IPCA + 6.28% ✓ ETO 8 th issuance 04/15/2022 90.0 106.4 Series 1: 04/13/2029 Series 2: 04/13/2032 IPCA Series 1 IPCA + 6.16% Series 2 IPCA + 6.28% ESA 15 th Issuance - CVM 476: (1) 10/15/2021 330.0 415.1 10/15/2031 IPCA IPCA + 6.09% ✓ EPB 10 th Issuance 10/15/2021 54.6 68.7 10/13/2031 IPCA IPCA + 6.09% ✓ ETO 7 th Issuance 10/15/2021 82.0 103.1 10/13/2031 IPCA IPCA + 6.09% ✓ ESE 10 th Issuance 10/15/2021 59.0 74.1 10/13/2031 IPCA IPCA + 6.09% ✓ ERO 6th issuance 10/15/2021 92.8 116.7 10/13/2031 IPCA IPCA + 6.09% ✓ EAM 1 st Issuance 10/15/2021 41.6 52.4 10/13/2031 IPCA IPCA + 6.09% ESA 14 th Issuance - CVM 476: 10/15/2020 480.0 662.2 Series 1: 10/15/2027 Series 2: 10/15/2030 IPCA Series 1: IPCA + 4.23% Series 2: IPCA + 4.475% ✓ EMS 15th Issuance 10/11/2020 75.0 103.5 Series 1: 10/11/2027 Series 2: 10/11/2030 IPCA Series 1: IPCA + 4.23% Series 2: IPCA + 4.475% ✓ EMG 13 th Issuance 10/11/2020 35.0 48.3 Series 1: 10/11/2027 Series 2: 10/11/2030 IPCA Series 1: IPCA + 4.23% Series 2: IPCA + 4.475% ✓ ENF 2 nd Issuance 10/11/2020 10.0 13.8 Series 1: 10/11/2027 Series 2: 10/11/2030 IPCA Series 1: IPCA + 4.23% Series 2: IPCA + 4.475% ✓ ETO 6 th Issuance 10/11/2020 60.0 82.8 Series 1: 10/11/2027 Series 2: 10/11/2030 IPCA Series 1: IPCA + 4.23% Series 2: IPCA + 4.475% ✓ ERO 3rd issuance 10/11/2020 85.0 117.3 Series 1: 10/11/2027 Series 2: 10/11/2030 IPCA Series 1: IPCA + 4.23% Series 2: IPCA + 4.475% ✓ EAC 2 nd Issuance 10/11/2020 40.0 55.2 Series 1: 10/11/2027 Series 2: 10/11/2030 IPCA Series 1: IPCA + 4.23% Series 2: IPCA + 4.475% ✓ EPB 9 th Issuance 10/11/2020 70.0 96.6 Series 1: 10/11/2027 Series 2: 10/11/2030 IPCA Series 1: IPCA + 4.23% Series 2: IPCA + 4.475% ✓ ESE 9 th Issuance 10/11/2020 30.0 41.4 Series 1: 10/11/2027 Series 2: 10/11/2030 IPCA Series 1: IPCA + 4.23% Series 2: IPCA + 4.475% ✓ ESS 6 th Issuance 10/11/2020 60.0 82.8 Series 1: 10/11/2027 Series 2: 10/11/2030 IPCA Series 1: IPCA + 4.23% Series 2: IPCA + 4.475% ✓ EBO 5th Issuance 10/11/2020 15.0 20.7 Series 1: 10/11/2027 Series 2: 10/11/2030 IPCA Series 1: IPCA + 4.23% Series 2: IPCA + 4.475% ESA 11 th Issuance - CVM 476: 04/15/2019 500.0 719.1 04/15/2026 IPCA 4.62% ✓ EAC 1 st Issuance 04/14/2019 175.0 251.7 04/14/2026 IPCA 4.62% ✓ ERO 2nd issuance 04/14/2019 325.0 467.4 04/14/2026 IPCA 4.62% ESA 9 th Issuance - CVM 400: 10/15/2017 850.0 33.8 IPCA Series 3 - 10/15/2027 Series 3 - IPCA+5.1074% ✓ EMG 9 th Issuance 10/15/2017 50.0 2.0 Series 3 - 10/15/2027 IPCA Series 3 - IPCA+5.1074% ✓ EMT 7 th Issuance 10/15/2017 145.0 5.8 Series 3 - 10/15/2027 IPCA Series 3 - IPCA+5.1074% ✓ EMS 9th Issuance 10/15/2017 148.0 5.9 Series 3 - 10/15/2027 IPCA Series 3 - IPCA+5.1074% ✓ ESS 3 rd Issuance 10/15/2017 118.0 4.7 Series 3 - 10/15/2027 IPCA Series 3 - IPCA+5.1074% ✓ ESE 5 th Issuance 10/15/2017 98.0 3.9 Series 3 - 10/15/2027 IPCA Series 3 - IPCA+5.1074%
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48 ENERGISA GROUP EARNINGS RELEASE 3Q25 Private debentures of the DisCos with the Parent company Energisa S.A. Date Funds Raised Issuance value (R$ million) Debt Balance in June/25 Maturity Date Index Spread (p.a.) ✓ ETO 3 rd Issuance 10/15/2017 131.0 5.2 Series 3 - 10/15/2027 IPCA Series 3 - IPCA+5.1074% ✓ EPB 3 rd Issuance 10/15/2017 160.0 6.4 Series 3 - 10/15/2027 IPCA Series 3 - IPCA+5.1074% Total 2017-2024 6,057.0 6,108.4 (1) The debt balance shown reflects only the amount of the incentivized series mirrored in the private issuances of the conce ssions.
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EARNINGS RELEASE 3Q25 49 ENERGISA GROUP A.6 Investment by company Investments Electric Assets Non-electric Assets Total Proprietary Assets Special Obligations Total Investment Amounts in R$ million 3Q25 3Q24 Change % 3Q25 3Q24 Change % 3Q25 3Q24 Change % 3Q25 3Q24 Change % 3Q25 3Q24 Change % Electricity distribution companies 1,391.9 1,355.8 + 2.7 78.6 64.5 + 21.9 1470.6 1,420.7 + 3.5 149.9 98.6 + 52.0 1620.5 1,519.1 + 6.7 EMR 78.7 68.9 + 14.2 6.3 5.0 + 26.2 85.0 73.9 + 15.0 8.8 1.9 + 363.5 93.8 75.8 + 23.8 ESE 66.4 63.6 + 4.4 5.0 4.4 + 14.1 71.4 68.1 + 4.9 2.0 2.0 - 2.2 73.4 70.1 + 4.7 EPB 96.1 127.5 - 24.6 8.2 8.8 - 7.3 104.3 136.3 - 23.5 10.2 5.3 + 92.9 114.5 141.6 - 19.1 EMT 545.1 331.1 + 64.6 20.9 14.1 + 48.0 565.9 345.2 + 63.9 5.4 30.5 - 82.4 571.3 375.7 + 52.1 EMS 183.9 181.9 + 1.1 11.1 7.6 + 46.6 195.1 189.6 + 2.9 -1.6 11.2 + 0.0 193.5 200.8 - 3.6 ETO 174.1 176.5 - 1.3 6.4 6.0 + 6.9 180.5 182.6 - 1.1 16.8 6.1 + 175.0 197.3 188.6 + 4.6 ESS 99.5 82.3 + 20.9 8.2 5.7 + 44.5 107.8 88.0 + 22.5 6.8 20.4 - 66.8 114.5 108.4 + 5.7 ERO 96.9 146.7 - 33.9 8.6 7.1 + 21.3 105.6 153.9 - 31.4 62.5 20.9 + 198.9 168.0 174.7 - 3.8 EAC 51.1 177.3 - 71.2 3.9 5.8 - 33.1 55.0 183.1 - 70.0 39.1 0.3 + 12,942.4 94.1 183.4 - 48.7 Electricity TransCos 62.1 154.2 - 59.7 0.3 111.1 - 99.8 62.4 265.4 - 76.5 0.0 - + 0.0 62.4 154.4 - 59.6 EPA I 0.1 - + 0.0 0.0 - + 0.0 0.1 - + 0.0 0.0 - + 0.0 0.1 - + 0.0 EPA II 0.0 - + 0.0 0.0 - + 0.0 0.1 - + 0.0 0.0 - + 0.0 0.1 - + 0.0 EGO I 0.1 - + 0.0 0.0 - + 0.0 0.1 - + 0.0 0.0 - + 0.0 0.1 - + 0.0 ETT 0.0 - + 0.0 0.0 - + 0.0 0.1 - + 0.0 0.0 - + 0.0 0.1 - + 0.0 ETT II (0.6) 16.4 + 0.0 - - + 0.0 -0.6 16.4 + 0.0 0.0 - + 0.0 -0.6 16.4 + 0.0 EAM 11.1 58.9 - 81.2 0.1 - + 0.0 11.2 58.9 - 81.1 0.0 - + 0.0 11.2 58.9 - 81.1 EAM II 20.7 28.7 - 27.9 - - + 0.0 20.7 28.7 - 27.9 0.0 - + 0.0 20.7 28.7 - 27.9 EAP (0.2) 15.0 + 0.0 - - + 0.0 -0.2 15.0 + 0.0 0.0 - + 0.0 -0.2 15.0 + 0.0 EPT - 0.1 + 0.0 - - + 0.0 0.0 0.1 + 0.0 0.0 - + 0.0 0.0 0.1 + 0.0 EMA 27.5 35.1 - 21.6 - - + 0.0 27.5 - - 22.1 0.0 - + 0.0 27.5 - + 0.0 GEMINI Consolidated 3.4 - + 0.0 0.1 0.1 - 99.9 3.5 35.3 - 96.9 0.0 - + 0.0 3.5 35.3 - 90.1 (re)energisa 51.4 - + 0.0 6.0 111.1 - 94.6 57.4 111.1 - 48.3 0.0 - + 0.0 57.4 111.1 - 48.3 Alsol Consolidated 51.4 - + 0.0 - 103.7 + 0.0 51.4 103.7 - 50.4 0.0 - + 0.0 51.4 103.7 - 50.4 ECOM - - + 0.0 0.4 2.5 - 82.7 0.4 2.5 - 82.7 0.0 - + 0.0 0.4 2.5 - 82.7 ESOL Consolidated - - + 0.0 5.5 4.9 + 13.3 5.5 4.9 + 13.3 0.0 - + 0.0 5.5 4.9 + 13.3 Natural gas distribution (0.0) - + 0.0 28.3 21.6 + 30.9 28.3 21.6 + 30.9 0.0 - + 0.0 28.3 21.6 + 30.9 ES GÁS (0.0) - + 0.0 28.3 21.6 + 30.9 28.3 21.6 + 30.9 0.0 - + 0.0 28.3 21.6 + 30.9 Biogás 19.1 - + 0.0 - 5.7 + 0.0 19.1 5.7 + 235.3 0.0 - + 0.0 19.1 5.7 + 235.3 AGRIC 19.1 - + 0.0 - 5.7 + 0.0 19.1 5.7 + 235.3 0.0 - + 0.0 19.1 5.7 + 235.3 Holding companies and other companies 0.4 - + 0.0 31.4 15.4 + 104.1 31.9 15.4 + 106.9 0.0 - + 0.0 31.9 15.4 + 106.9 RIO PEIXE I 0.4 - + 0.0 - - + 0.0 0.4 - + 0.0 0.0 - + 0.0 0.4 - + 0.0 RIO PEIXE II - + 0.0 - + 0.0 - + 0.0 - + 0.0 - + 0.0 ESA 0.1 - + 0.0 28.0 12.1 + 131.2 28.1 12.1 + 131.9 0.0 - + 0.0 28.1 12.1 + 131.9 Other companies - 0.1 - + 0.0 3.5 3.3 + 5.1 3.4 3.3 + 1.9 0.0 - + 0.0 3.4 3.3 + 1.9 Consolidated Total 1,525.0 1,510.2 + 1.0 144.6 218.5 - 33.8 1,669.6 1,728.7 - 3.4 149.9 98.6 + 52.0 1,819.5 1,827.3 - 0.4
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EARNINGS RELEASE 3Q25 50 ENERGISA GROUP Investments Electric Assets Non-electric Assets Total Proprietary Assets Special Obligations Total Investment Amounts in R$ million 9M25 9M24 Change % 9M25 9M24 Change % 9M25 9M24 Change % 9M25 9M24 Change % 9M25 9M24 Change % Electricity distribution companies 3,626.7 3,615.3 + 0.3 186.2 121.0 + 53.9 3812.9 3,736.3 + 2.0 364.8 312.2 + 16.8 4177.6 4,048.6 + 3.2 EMR 190.4 153.3 + 24.2 11.6 9.4 + 23.4 202.0 162.8 + 24.1 15.6 6.1 + 155.7 217.6 168.8 + 28.9 ESE 185.0 175.6 + 5.4 11.9 8.0 + 48.6 196.9 183.7 + 7.2 9.5 7.1 + 34.1 206.4 190.8 + 8.2 EPB 268.3 335.0 - 19.9 23.3 13.3 + 75.0 291.6 348.3 - 16.3 25.0 11.0 + 127.2 316.6 359.4 - 11.9 EMT 1,291.2 972.7 + 32.7 49.4 32.5 + 51.9 1340.6 1,005.2 + 33.4 24.0 58.8 - 59.1 1364.7 1,064.0 + 28.3 EMS 511.4 469.8 + 8.9 23.8 21.8 + 9.3 535.3 491.6 + 8.9 18.4 44.7 - 58.8 553.7 536.3 + 3.2 ETO 453.8 528.5 - 14.1 13.3 9.8 + 35.7 467.1 538.3 - 13.2 32.0 17.1 + 87.1 499.1 555.4 - 10.1 ESS 315.0 213.6 + 47.5 15.1 10.2 + 48.3 330.1 223.7 + 47.6 24.2 120.0 - 79.8 354.3 343.8 + 3.1 ERO 283.5 377.7 - 24.9 30.3 11.5 + 163.6 313.8 389.1 - 19.3 151.3 42.4 + 256.9 465.1 431.6 + 7.8 EAC 128.0 389.1 - 67.1 7.5 4.5 + 66.0 135.5 393.6 - 65.6 64.7 5.0 + 1,194.3 200.2 398.5 - 49.8 Electricity TransCos 172.5 370.5 - 53.4 0.5 0.4 + 24.7 173.0 370.9 - 53.4 0.0 - + 0.0 173.0 370.9 - 53.4 EPA I 0.1 - + 0.0 0.1 0.1 - 37.0 0.2 0.1 + 59.1 0.0 - + 0.0 0.2 0.1 + 59.1 EPA II 0.1 - + 0.0 0.0 0.1 - 56.2 0.1 0.1 + 43.2 0.0 - + 0.0 0.1 0.1 + 43.2 EGO I 0.1 - + 0.0 0.1 - + 0.0 0.2 - + 0.0 0.0 - + 0.0 0.2 - + 0.0 ETT 0.1 - + 0.0 0.0 - + 0.0 0.1 - + 0.0 0.0 - + 0.0 0.1 - + 0.0 ETT II (1.2) 22.4 + 0.0 - - + 0.0 -1.2 22.4 + 0.0 0.0 - + 0.0 -1.2 22.4 + 0.0 EAM 61.5 172.8 - 64.4 0.2 - + 0.0 61.6 172.8 - 64.3 0.0 - + 0.0 61.6 172.8 - 64.3 EAM II 56.3 42.9 + 31.3 - - + 0.0 56.3 42.9 + 31.3 0.0 - + 0.0 56.3 42.9 + 31.3 EAP (1.5) 78.6 + 0.0 - - + 0.0 -1.5 78.6 + 0.0 0.0 - + 0.0 -1.5 78.6 + 0.0 EPT - 0.1 + 0.0 - - + 0.0 0.0 0.1 + 0.0 0.0 - + 0.0 0.0 0.1 + 0.0 EMA 29.4 - + 0.0 - - + 0.0 29.4 - + 0.0 0.0 - + 0.0 29.4 - + 0.0 GEMINI Consolidated 27.6 53.7 - 48.5 0.1 0.2 - 35.7 27.8 53.8 - 48.4 0.0 - + 0.0 27.8 53.8 - 48.4 (re)energisa 180.2 - + 0.0 17.8 252.3 - 93.0 198.0 252.3 - 21.5 0.0 - + 0.0 198.0 252.3 - 21.5 Alsol Consolidated 180.2 - + 0.0 7.0 239.0 - 97.1 187.2 239.0 - 21.7 0.0 - + 0.0 187.2 239.0 - 21.7 ECOM - - + 0.0 0.6 4.3 - 86.5 0.6 4.3 - 86.5 0.0 - + 0.0 0.6 4.3 - 86.5 ESOL Consolidated - - + 0.0 10.2 9.0 + 13.3 10.2 9.0 + 13.3 0.0 - + 0.0 10.2 9.0 + 13.3 Natural gas distribution - - + 0.0 64.5 46.4 + 39.0 64.5 46.4 + 39.0 0.0 - + 0.0 64.5 46.4 + 39.0 ES GÁS - - + 0.0 64.5 46.4 + 39.0 64.5 46.4 + 39.0 0.0 - + 0.0 64.5 46.4 + 39.0 Biogás 97.3 - + 0.0 - 13.5 + 0.0 97.3 13.5 + 620.6 0.0 - + 0.0 97.3 13.5 + 620.6 AGRIC 97.3 - + 0.0 - 13.5 + 0.0 97.3 13.5 + 620.6 0.0 - + 0.0 97.3 13.5 + 620.6 Holding companies and other companies 0.4 - + 0.0 40.7 24.4 + 66.9 41.1 24.4 + 68.6 0.0 - + 0.0 41.1 24.4 + 68.6 RIO PEIXE I 0.1 - + 0.0 - 0.4 + 0.0 0.1 0.4 - 72.0 0.0 - + 0.0 0.1 0.4 - 72.0 RIO PEIXE II - + 0.0 - + 0.0 - + 0.0 - + 0.0 - + 0.0 ESA 0.3 - + 0.0 35.1 17.8 + 97.0 35.4 17.8 + 98.8 0.0 - + 0.0 35.4 17.8 + 98.8 Other companies - - + 0.0 5.6 6.2 - 8.9 5.6 6.2 - 8.9 0.0 - + 0.0 5.6 6.2 - 8.9 Consolidated Total 4,077.1 3,985.9 + 2.3 309.7 457.9 - 32.4 4,386.7 4,443.8 - 1.3 364.8 312.2 + 16.8 4,751.5 4,756.0 - 0.1
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EARNINGS RELEASE 3Q25 51 ENERGISA GROUP APPENDIX II - FINANCIAL STATEMENTS 1. Statement of financial position - assets AS OF SEPTEMBER 30, 2025 AND DECEMBER 31, 2024 (In thousands of Reais) STATEMENT OF FINANCIAL POSITION (In thousands of Reais) Parent company Consolidated 09/30/2025 12/31/2024 09/30/2025 12/31/2024 Assets Current Cash and Cash Equivalents 77,511 134,301 1,154,133 899,139 Money market and secured funds 3,534,984 1,249,724 8,340,637 7,662,110 Clients, consumers, concession operators and other 89,552 79,213 4,658,392 4,450,773 Credit receivables 25 25 6,026 4,524 Inventory 237 240 159,439 137,932 Recoverable taxes 200,135 84,829 1,881,234 1,747,604 Dividends and interest on equity receivable 189,572 156,324 - - Financial instruments and risk management - 37,173 23,806 565,220 Sector financial assets - - 941,021 209,676 Public service concession - contract asset - - 840,446 778,670 Noncurrent Assets for Sale - - 20,793 23,932 Other receivables 31,394 15,596 1,779,413 1,536,437 Total current 4,123,410 1,757,425 19,805,340 18,016,017 Money market and secured funds 5,454,800 5,931,290 507,341 411,155 Consumers and concessionaires - - 520,254 495,941 Credit receivables - - 6,557 7,682 Tax credits - - 2,652,537 2,604,624 Recoverable taxes 163,173 276,882 2,150,330 2,672,683 Financial instruments and risk management 1,404,299 1,351,032 1,998,538 2,596,230 Sector financial assets - - 1,226,810 224,604 Concession financial asset - - 16,786,373 14,530,813 Credit with Subsidiaries 365,883 370,497 - - Judicial deposits 8,483 5,374 1,805,073 1,630,185 Public service concession - contract asset - - 8,528,204 8,156,200 Other accounts receivable 200,707 200,708 595,739 587,428 7,597,345 8,135,783 36,777,756 33,917,545 Contractual Asset - Infrastructure under construction - - 3,202,539 2,376,168 Investments 20,455,333 19,968,162 692,943 673,262 Property, plant and equipment 112,067 122,947 3,371,114 3,256,099 Intangible assets 111,160 90,637 19,008,769 18,942,562 Total noncurrent 28,275,905 28,317,529 63,053,121 59,165,636 Total assets 32,399,315 30,074,954 82,858,461 77,181,653 See the accompanying notes to the interim financial statements.
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EARNINGS RELEASE 3Q25 52 ENERGISA GROUP 2. Statement of financial position - liabilities AS OF SEPTEMBER 30, 2025 AND DECEMBER 31, 2024 (In thousands of Reais) STATEMENT OF FINANCIAL POSITION (In thousands of Reais) Parent company Consolidated 09/30/2025 12/31/2024 09/30/2025 12/31/2024 Liabilities Current Trade payables 20,130 38,121 3,149,352 2,622,158 Debt charges 168,968 124,572 317,270 400,180 Loans and Borrowings 324,847 473,470 3,727,628 4,601,133 Debentures 951,613 410,513 2,469,532 1,720,229 Taxes and social contributions 20,504 18,846 983,765 854,600 Dividends and interest on equity payable 6,159 808,483 9,455 873,865 Estimated obligations 35,462 25,264 242,862 174,827 Public lighting contribution - - 122,349 134,537 Sector charges - - 360,387 307,700 Incorporation of grids - - 251,304 260,471 Sector financial liabilities - - 1,153,696 989,925 Financial instruments and risk management 27,523 2,248 648,103 530,338 Post-employment benefits 1,547 1,547 27,513 27,514 Operating Leases 1,047 677 23,631 25,158 Tax financing - - 278 710 Effects of excluding ICMS from the PIS and Cofins calculation base - - 189,527 404,823 Other liabilities 50,960 54,659 578,944 725,223 Total current 1,608,760 1,958,400 14,255,596 14,653,391 Noncurrent Trade payables 6,737 6,131 194,824 173,966 Loans and Borrowings 199,939 - 10,634,837 11,721,414 Debentures 11,009,559 9,677,727 24,215,224 17,074,785 Taxes and social contributions 6,510 5,273 884,771 854,720 Deferred Taxes 666,023 663,368 5,630,484 5,895,378 Sector financial liabilities - - 453,304 435,086 Tax, Welfare and Civil Contingencies 618 547 1,631,666 1,579,003 Tax financing - - - 183 Sector charges - - 146,051 153,969 Financial instruments and risk management 393,340 463,928 709,078 762,351 Post-employment benefits 11,736 10,576 225,862 202,774 Operating Leases 2,499 1,621 118,244 104,514 Effects of excluding ICMS from the PIS and Cofins calculation base - - 541,602 923,875 Other Liabilities 9,082 7,885 581,480 503,022 Total noncurrent 12,306,043 10,837,056 45,967,427 40,385,040 Equity Realized Capital 8,129,241 7,540,743 8,129,241 7,540,743 Capital Reserves 1,279,207 1,024,657 1,279,207 1,024,657 Profit Reserves 8,129,246 8,717,744 8,129,246 8,717,744 Additional Dividend Proposed - 63,639 - 63,639 Equity Valuation Adjustments - - - - NCI - - 4,150,926 4,863,724 Other Comprehensive Income (67,600) (67,285) (67,600) (67,285) Retained earnings/Accumulated losses 1,014,418 - 1,014,418 - Total equity 18,484,512 17,279,498 22,635,438 22,143,222 Total liabilities and equity 32,399,315 30,074,954 82,858,461 77,181,653 Total Liabilities See the accompanying notes to the interim financial statements.
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EARNINGS RELEASE 3Q25 53 ENERGISA GROUP 3. Statement of profit or loss FOR THE YEAR ENDED September 30, 2025 AND 2024 (In thousands of Reais, except for net income per share) STATEMENT OF PROFIT OR LOSS (In thousands of Reais, except for net income per share) Parent company Consolidated 3Q25 3Q24 3Q25 3Q24 Revenues Electricity sales to consumers - - 19,736,073 20,763,647 Electricity sales to DisCos - - 675,020 234,328 Electricity network usage charges - - 2,948,173 2,362,097 Energy sold to free clients - - 1,275,387 100,379 Construction revenue - - 3,987,264 50,629 Other revenue 334,900 306,948 7,037,938 10,116,708 334,900 306,948 35,659,855 33,627,788 Deductions from operating revenue ICMS - - 4,200,608 4,387,691 PIS, Cofins and ISS (39,686) (36,053) 2,548,234 2,362,228 Rate tier deductions - - - - Other (CCC,CDE,R&D,PEE) - - 2,755,547 2,720,537 (39,686) (36,053) 9,504,389 9,470,456 Net operating revenue 295,214 270,895 26,155,466 24,157,332 Operating expenses Electricity purchased for resale - - 9,278,979 7,877,637 Gas acquisition and transportation 246,077 1,045,422 Charge for using transmission and distribution system - - 2,452,841 1,847,415 Personnel and management 206,890 190,009 1,528,992 1,420,258 Post-employment benefits 5,172 4,615 51,492 48,556 Material 3,013 2,978 235,934 249,154 Outsourced services 52,413 51,758 792,969 825,154 Amortization and depreciation 26,673 24,777 1,572,142 1,369,372 Allowance for doubtful accounts - - 351,473 353,544 Provisions for labor, civil, tax and regulatory risks 46 95 118,073 32,765 Construction cost - - 3,977,803 3,752,210 Other 10,917 5,671 110,327 176,522 Other Operating Revenue (3,526) 59 244,742 350,690 301,598 279,962 20,961,844 19,348,699 Earnings before equity income (6,384) (9,067) 5,193,622 4,808,633 Share of profit (loss) of equity -accounted investees 1,927,489 2,011,242 78,657 - Earnings before financial revenue and costs 1,921,105 2,002,175 5,272,279 4,808,633 Finance income/loss Revenue on short-term investments 650,516 579,343 827,373 784,193 Arrears charge on power sales 330,384 321,678 Taxes on finance revenue (38,521) (32,719) (115,133) (92,115) Restatement of effects of reducing ICMS on the Pis and Cofins calculation base 75,804 94,327 Restatement of Judicial Deposits 214 182 96,688 61,691 Other finance revenue 138,319 128,111 445,409 177,005 Debt charges - interest (938,661) (767,739) (2,683,433) (2,122,478) Monetary and exchange variance on debt (178,960) (214,094) 475,470 (1,223,936) Financial instruments and risk management (123,808) 48,724 (1,642,860) 512,647 Mark-to-market of derivatives 53,245 293,872 79,569 268,520 (-) Transfer to orders in progress 40,399 89,775 Restatement of effects of reducing ICMS on the Pis and Cofins calculation base (68,172) (85,445) Other finance costs (9,246) (8,048) (321,905) (331,712) (446,902) 27,632 (2,460,407) (1,545,850) Profit or loss before tax 1,474,203 2,029,807 2,811,872 3,262,783 Current - - (959,773) (543,333) Deferred charges (2,655) (69,070) 312,807 (202,314) Net income for the period 1,471,548 1,960,737 2,164,906 2,517,136 See the accompanying notes to the interim financial statements.
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EARNINGS RELEASE 3Q25 54 ENERGISA GROUP 4. Statement of cash flows FOR THE PERIOD ENDED September 30, 2025 AND 2024 (In thousands of Reais) STATEMENT OF CASH FLOWS (In thousands of Reais) Consolidated 3Q25 3Q24 Net Cash from Operating Activities 4,146,631 5,365,110 Cash Provided by Operating Activities 6,528,553 5,931,634 Net Income for the Period 2,164,906 2,517,136 Income tax and social contribution 646,966 745,647 Expenses (revenue) on interest and monetary and exchange variance - net 1,284,625 2,568,708 Amortization and Depreciation 1,572,142 1,369,371 Allowance for doubtful accounts 351,473 353,544 Provisions for labor, civil and tax risks 118,073 32,765 Fair value of concession financial asset (545,374) (427,135) Mark-to-market of debt securities 425,760 (452,192) Financial instruments and risk management 1,642,860 (512,647) Mark-to-market of derivatives (505,329) 183,672 Variable compensation program - ILP 6,132 (2,194) Construction margin, operation and compensation of the Transmission contract asset (76,542) (105,483) Compensation of contract asset (697,391) (653,515) Mark-to-market of traded energy purchase/sale contracts 57,765 186,530 Loss on the sale of PP&E and intangible assets 161,144 127,427 Infrastructure construction revenue - - Share of profit (loss) of equity -accounted investees (78,657) - Changes in Assets and Liabilities (2,381,922) (566,524) Decrease (increase) in consumers and concessionaires (68,075) 183,813 (Increase) decrease in credit receivables (33,458) 135 (Increase) in inventories (21,507) 38,294 (Increase) in escrows, restricted and judicial deposits (78,200) (11,299) (Increase) decrease in financial sector assets (1,526,833) (291,396) Decrease (increase) in recoverable taxes 172,386 (79,491) Funds from the Itaipu trading account - - (Increase) in other credit receivables (319,983) (387,784) Increase in trade payables 461,511 239,941 Increase in estimated obligations 68,035 64,433 Increase in taxes and social contributions 393,107 821,148 Income and social contribution taxes paid (707,173) (402,582) (Decrease) in financial sector liabilities (546,502) (527,756) Tax, civil, labor and regulatory proceedings paid (138,593) (241,334) (Decrease) in other accounts payable (36,637) 27,354 Net Cash from Investment Activities (4,320,647) (5,318,461) Sale of PP&E and intangible assets 50,681 18,772 Additions to property, plant and equipment (284,809) (393,232) Additions to Intangible assets (3,937,307) (3,485,254) Applications to electricity transmission lines (201,872) (360,951) Short-term investments and secured funds 52,660 (1,097,796) Payments under business combination - - Cash and cash equivalents acquired under the business combination - - Net Cash from Financing Activities 429,010 (246,809) New loans and financing 13,577,474 13,184,898 Payment of loans, financing and debentures - principal (7,678,922) (12,148,498) Payment of loans, financing and debentures - interest (2,685,525) (3,324,245) Receipt (Payment) of settled derivative financial instruments (55,866) 112,318 Payment of grid incorporation (161,636) (177,386) Dividend payment (2,216,082) (1,297,208) Payment under financial lease (70,518) (45,214) Capital increase through share subscription - 2,493,368 Tax financing (615) (1,279) Transaction costs incurred on share issuances - (43,563) Acquisition of additional NCI (279,300) 1,000,000 Exchange Variance on Cash and Cash Equivalents - - Increase (Decrease) in Cash and Cash Equivalents 254,994 (200,160) Opening Balance of Cash and Cash Equivalents 899,139 1,298,424 Closing Balance of Cash and Cash Equivalents 1,154,133 1,098,264 See the accompanying notes to the interim quarterly financial statements.
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EARNINGS RELEASE 3Q25 55 ENERGISA GROUP Representation by the Officers of Energisa S.A. (“Company) on the Financial Statements for the period January 01 to September 30, 2025 The Company's undersigned officers represent that pursuant to article 27 (V and VI) of CVM Resolution 80, of March 29, 2022, that at a meeting held today they have revised, discussed and accepted the Company's financial statements, subject to the specific limits of their powers, and have approved the document. Cataguases, November 06, 2025. Ricardo Perez Botelho CEO Mauricio Perez Botelho CFO and Investor Relations Officer Fernando Cezar Maia Regulatory Affairs and Strategy Officer José Marcos Chaves de Melo Logistics and Supplies Officer Daniele Araújo Salomão Castelo Personnel Management Officer Rodolfo da Paixão Lima Accounting, Tax and Asset Management Officer Accountant - CRC RJ 107.310/O -0 "S" MG
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EARNINGS RELEASE 3Q25 56 ENERGISA GROUP Representation by the Officers of Energisa S.A. (“Company”) on the Independent Auditors' Report The Company's undersigned officers represent that pursuant to article 27 (V and VI) of CVM Resolution 80, of March 29, 2022, that at a meeting held today they have revised, discussed and accepted the opinions expressed in the independent auditors’ opinion, subject to the specific limits of their powers, and have approved the document. Cataguases, November 06, 2025. Ricardo Perez Botelho CEO Mauricio Perez Botelho CFO and Investor Relations Officer Fernando Cezar Maia Regulatory Affairs and Strategy Officer José Marcos Chaves de Melo Logistics and Supplies Officer Daniele Araújo Salomão Castelo Personnel Management Officer Rodolfo da Paixão Lima Accounting, Tax and Asset Management Officer Accountant - CRC RJ 107.310/O -0 "S" MG
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EARNINGS RELEASE 3Q25 57 ENERGISA GROUP Board of Directors (Election at 2025 A/EGM) Omar Carneiro Cunha Sobrinho CEO Ricardo Perez Botelho Vice Chairman Jose Antonio de Almeida Felippo Independent Board Member Rogério Sekeff Zampronha Independent Board Member Luciana Oliveira Cezar Coelho Independent Board Member Armando de Azevedo Henriques Independent Board Member Luiz Eduardo Froés do Amaral Osorio Independent Board Member
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EARNINGS RELEASE 3Q25 58 ENERGISA GROUP Executive Board Ricardo Perez Botelho CEO Mauricio Perez Botelho CFO and Investor Relations Officer Fernando Cezar Maia Regulatory Affairs and Strategy Officer José Marcos Chaves de Melo Logistics and Supplies Officer Daniele Araújo Salomão Castelo Personnel Management Officer Rodolfo da Paixão Lima Accounting, Tax and Asset Management Officer Accountant - CRC RJ 107.310/O -0 "S" MG