Slides
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Corporate Presentation Enel Américas December 2024
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Index 1 Enel Américas at a glance 2 2025-2027 Strategic Plan 3 Q3 & 9M 2024 Results 4 Annexes
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Enel Américas at a glance
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• Investments tailored to returns, with advocacy playing a key role • Continued enhancement of grid resiliency & quality • Leverage digitalization and innovation to enable the energy transition Grids • Prioritize products and services that can accelerate electrification • Deliver quality improvements to improve customer satisfaction Customers • Selective capital allocation driven by a weighted risk-reward matrix • Reduce spot price exposure to mitigate volatility Generation Profitability, flexibility and resilience 1 Efficiency and effectiveness 2 Financial and environmental sustainability 3 OUR STRATEGIC PILLARS Pillars and key business drivers confirmed 4
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Disposal plan completed, with defined perimeter for the future… Brazil Colombia Guatemala Panama Costa Rica Argentina Disposal plan completed Low leverage allows for ample financial flexibility for potential optionalities Profitability, flexibility and resilience 1 Efficiency and effectiveness 2 Financial and environmental sustainability 3 Strategic Pillars Focus on countries and businesses 5 Key drivers implemented: Figures do not include Enel Gx Piura, as it is currently classified as an asset held for sale. (1) Dividend charged to 2024 net income, to be paid in January and May 2025; (2) Includes net gain from disposal of Peruvian assets. 3.9 2.72 Net Income (USD bn) 0.7 ND/EBITDA (times) 0.8 Dividends1 (USD bn) EBITDA (USD bn) 2024E Post-disposals perimeter
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CAPEX (USD bn) EBITDA (USD bn) 2024E2016 …leading to a remarkable track record over the years ND/EBITDA (times) Grid customers (mn) RES capacity (GW) 12.6 Emission-free production (%) RAB (USD bn) 6 Net Income (USD bn) 3.9 2.4 2.1 1.2 0.7 0.6 2.71 0.6 22.5 14.1 12.4 7.1 2024E2016 12.6 5.8 98% 56% 2024E2016 Enhancing our focus on grids’ resilience and digitalization Completion of the growth phase in renewables, achieving almost 100% emission-free production RES production (TWh) 41.4 22.6Energy distributed (TWh) 106.4 62.7 (1) Includes net gain from disposal of Peruvian assets; (2) Includes dividend payable in 2025, charged to 2024’s net income; (3) As of September 30, 2024 (4) December 04, 2024 A value-driven company since its creation in 2016, distributing a total USD 3.6 bn in dividends to its shareholders2 Market Cap4 US$ 9.8 bn 82.3% 9.3% 7.6% 0.8% Enel SpA Institutional investors Chilean Pension Funds Retail Ownership structure3
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2025 - 2027 Strategic Plan
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13.0% 9.7% 8.6% 7.6% 2023 2024 2025 2026 2027 4,325 4,024 4,121 2023 2024 2025 2026 2027 11.8%11.6% 8.5% 9.1% 2023 2024 2025 2026 2027 5.00 5.29 5.10 2023 2024 2025 2026 2027 4.6% 3.7% 3.2% 2023 2024 2025 2026 2027 2.9% 2.8% 2.3% 2023 2024 2025 2026 2027 11.7% 5.3% 3.3% 2023 2024 2025 2026 2027 0.6% 1.8% 2.5% 2023 2024 2025 2026 2027 Argentina Broadly stable regional context, but interest rates to remain high for longer than expected… 8(1) Credit Default Swaps. 2024 until November 14, 2024. GDP growth Inflation Fx (vs USD) Interest rates Colombia Brazil Old Plan New Plan Old Plan New Plan 3,066 3,015 2,256 2022 2023 2024 5 years CDS1 - Average -25% vs 2023
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…with extreme weather events becoming more frequent… 9 2023 2024 October – Storm in Sao Paulo Strongest storm in 30 years 3.1 mn customers affected May – Storm in Rio Grande do Sul >500k people affected November – Storm in Sao Paulo 2.1 mn customers affected November – Storm in Rio de Janeiro 1.2 mn customers affected March – Heatwave in Buenos Aires Extended cuts in supply due to high temperatures Current environment calls for increasing investments in distribution grids to improve resilience to climate events while enhancing quality, involving all stakeholders in this effort
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0% 20% 40% 60% 80% 100% 0 200 400 600 800 2021 2022 2023 2024 …and climate change risk adding higher market volatility… Brazil Colombia COP/kWh BRL/MWh (1) Source: CCEE (Brazil) and XM (Colombia); (2) ONS (Brazil) and XM (Colombia). Reservoir level Spot price Reservoir level Price volatility period 0% 20% 40% 60% 80% 100% 0 500 1,000 1,500 2,000 2,500 3,000 2021 2022 2023 2024 Spot price Reservoir level 10 Price volatility period Spot price volatility vs reservoirs levels
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…but LatAm has significant potential for growth in our businesses 11 Share of electricity in final consumption (%)1 RES share in electricity generation (%)1 Increase in energy consumption is a key driver for Grids’ demand growth… …with renewables playing a key role to supply this energy and advance the energy transition (1) Source: Energy Transition Roadmaps, promoted by Enel Americas and developed by independent consultants with collaboration of stakeholders. 2023 2025 2050 21% 23% 45% 2023 2025 2050 84% 88% 99%
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66% 23% 10% 1% USD 7.5 bn 82% 15% 4% 35% increase in our investments vs previous plan1… By business lineBy country Renewables Grids Customers CAPEX 2025-27 Key drivers Strengthening our focus on Grids as the backbone of our operations, increasing 61%1 Ongoing advocacy on concession renewal focused on improving grids’ quality & resilience, maximizing returns Selective approach to renewable investments driven by a weighted risk-reward matrix 12 Investments increase across all geographies1 USD 7.5 bn (1) Argentina’s increase vs previous plan is explained by different base assumptions (2025-27 is included for all years).
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…investing in countries with clear frameworks, enhancing remuneration visibility… Grids CAPEX RAB2 (USD bn) +12% Key drivers CAPEX acceleration Increase in investments to deliver faster grid modernization, with recognition in our asset base Returns visibility Focus on countries with visible, transparent and constructive regulatory frameworks, maximizing remuneration 13 5.8 3.7 2.9 2024E 7.1 3.8 3.0 2027 12.4 13.9 75% 13% 12% 2025-27 USD 6.1 bn 4% 75% 21% 2024-26 USD 3.8 bn Concession renewal Ongoing advocacy with significant focus on enhancing grids quality and resilience +61%1 (1) Argentina’s increase vs previous plan is explained by different base assumptions (2025-27 is included for all years); (2) RAB adjusted by inflation and growth investments. Brazil Colombia Argentina
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14.6% …while focusing our efforts on quality and resilience enhancement Ceará Sao Paulo Rio Colombia Edesur Grid customers (mn) Energy distributed (TWh) SAIFI (times) Energy losses (%) SAIDI (hours) 15.1% 9.2 3.9 9.5% 10.1% 5.9 6.3 3.2 3.4 19.0% 19.8% 7.4 8.4 3.9 4.4 7.5% 7.5% 6.1 6.7 4.8 4.9 16.1% 12.9 17.5 6.9 7.9 2024E 20272024E 20272024E 2027 Enel Américas 11.8% 12.7% 7.4 8.6 4.1 4.4 8.3 3.7 13.1% 2024E 2027 22.5 23.7 2024E 2027 105.8 110.9 Smart meters (mn) +5%+5% 14 1.4 5.4
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Increasing renewable capacity in Colombia, with coal phase-out by 20271… Energy balance (TWh) -13% 15 Contracted energy (1) The closure of a coal-fired power plant is not solely the Company’s responsibility, but it is subject to an authorization process. Project Additional Capacity Expected CODCountry & tech Guayepo II 24 MW (166 MW built) 2025 Guayepo III 267 MW 2025 Atlantico 256 MW 2026 36% 28% 1% 14% 21% 36% 44% 20% 65.0 65.0 40% 37% 9% 14% 38% 42% 20% 56.3 56.3 2024E 2027 100% 100% 94% 72% 2024 2025 2026 2027 98% 93% 80% 89% 2024 2025 2026 2027 Brazil Colombia Net capacity evolution (GW) 6.2 6.4 0.2 2024E 0.6 Additional capacity (0.2) Coal phase-out 6.3 6.9 2027 12.9 13.2 Capacity in execution Hydro Renewable Thermal Hydro Renewable Thermal Third parties purchases Spot purchases Regulated sales Unregulated sales Spot sales Own production
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2024E 2027 29.3% 40.1% 58% 35% 7% …with free market customers increasing over >2x in plan period 16 Free market customers (th) Light points (th) +108% +83% Brazil Colombia Argentina 2025-27 USD 0.3 bn E-billing Customers’ CAPEX 6.0 12.5 2024E 2027 +10.8 p.p. Positive developments in market liberalization in Brazil to continue driving customer base expansion 746 1,365 2024E 2027 2.0% 1.7% Bad debt (1) Argentina’s increase vs previous plan is explained by different base assumptions (2025-27 is included for all years).
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Leveraging financial flexibility and position to fund our ambitious CAPEX plan Our capital allocation and strategy drives significant EBITDA growth… Grids’ performance benefitting from positive regulatory updates and significant investments Increasing EBITDA contribution from renewables, replacing old capacity with new projects +39% Key drivers 59% 34% 2% 4% 2024E USD 3.9 bn 9% 55% 32% 4% 2027 USD 5.4 bn Argentina Brazil Colombia C. América 17(1) Argentina’s increase vs previous plan is explained by different base assumptions (2025-27 is included for all years). EBITDA by country EBITDA by business line 54%35% 11% 2024E USD 3.9 bn 55%35% 10% 2027 USD 5.4 bn Grids Generation Customers +39%
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61 99 1.5 0.6 0.9 2.0 0.7 0.3 0.03 2024E (0.1) Fx & CPI (0.1) OPEX Tariff & RAB 0.2 Demand 2027 2.1 2.9-3.0 36% 33% 30% …increasing our focus on Grids with visible and predictable returns… Grids CAPEX1 EBITDA evolution (USD bn) 2025-27 USD 6.1 bn CAPEX/Grid cust. (USD/grid cust.) 2024E 2027 Blended regulated return 25-272 ~11.8% +40% Rounded figures. (1) Net of Fx effect; (2) Real, pre-tax. Calculated as a weighted average; (3) Networks upgrade include CAPEX in resilience, digitalization & climate change, among others; Ordinary includes asset maintenance CAPEX and recurring network development CAPEX +61% vs old plan RAB/Grid cust.1 (USD/grid cust.) 586551 18 Brazil – Concession renewal Enel Colombia – Tariff review Edesur – Tariff review 2025 regulatory developments: Main grids business KPIs Networks’ upgrade3 Ordinary3 Connections Brazil Colombia Argentina
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…while optimizing investments in renewables with a better risk-return balance… Generation CAPEX1 EBITDA evolution (USD bn) 2024E 2027 32 43 24 23 300 bps average spread IRR-WACC required for new projects EBITDA/MWh (USD/MWh) OPEX/MW (th USD/MW)2 +38% Rounded figures. (1) Mainly explained by normalization of hydro conditions in Colombia; (2) In real terms. Growth Maintenance 0.7 0.5 0.1 0.9 0.2 0.2 0.02 2024E (0.1) Fx & CPI 0.41 Volume & price New projects 0.7 0.1 2027 1.4 1.8-1.9 62% 38% 2025-27 USD 1.1 bn 19 Main generation business KPIs Brazil Colombia Argentina C. America
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Good financial shape to finance potential growth or increase shareholder remuneration… 10.5 7.5 2.8 Total sources Total uses 10.3 2025-27 Funds allocation (USD bn) Dividends1 CAPEX FFO Use of funds fully covered by business cash generation… 20 Dividends paid evolution (USD bn) 1.2 0.5 2022-24 2025-27 0.52 1.8 Ordinary Disposals Positive dividend evolution after completion of disposals… 3.5x (1) Includes dividends paid by our subsidiaries to their minority shareholders; (2) Dividends already paid
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…while leverage ratios remain stable over the plan period Net debt evolution (USD bn) 11.0% 9.8% +43% 21 2.6 3.7 7.5 2.8 2024E CAPEX Dividends (10.5) FFO 0.8 Pension fund payments1 0.4 Extraordinary operations 0.1 Fx 2027 0.7x 0.7x 1.1 1.5 0.6 3.2 2025 2026 2027 2025-27 Debt maturities (USD bn) Maturities / Gross debt 19% 25% 9% Strong liquidity position (USD 4.7 bn) covers >100% of maturities over the plan period Cost of debt (%) Net debt/ EBITDA 5.9 6.4Gross debt (USD bn) (1) Related to Sao Paulo pension fund
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1.0 1.7 2024E 2025 2027 2.7 1.4-1.6 1.5-1.7 3.9 2024E 2025 2027 4.4-4.6 5.2-5.4 2.1 2.2 2.7 2024E 2025 2027 CAPEXEBITDA Strategic Plan targets (USD bn) Net income Rounded figures. (1) CAGR only considers ordinary group net income; (2) EPS attributable to ordinary net income, total EPS is USD 0.025 per share and DPS is USD 0.008 per share. +20% CAGR 24-271 +8% CAGR 24-27 +12% CAGR 24-27 22 Ordinary Disposals Dividend policy of 30% of net income maintained 0.0092 0.014 0.016 EPS (USD/sh) 0.0032 0.004 0.005 DPS (USD/sh)
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Q3 & 9M 2024 Results
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63% 36% 1% 41% 58% 1% 65% 32% 3% 78% 19% 3% 7% 71% 22% 9% 63% 28% Gross CAPEX Completing renewable projects in core countries, relevant growth in Grids Brazil CAPEX by business1CAPEX by country Asset development2 CAPEX by business (1) Renewables business’ includes trading business; (2) Asset development - Growth investments in generation and Grids (quality programs smart metering) Argentina Brazil Colombia C. America Q3 2024 Generation Grids Customers US$ 450 mn (-37% YoY) US$ 149 mn (-64% YoY) US$ 450 mn (-37% YoY) 9M 2024 US$ 1,519 mn (-26% YoY) US$ 1,519 mn (-26% YoY) US$ 656 mn (-42% YoY) 24
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82% 18% Renewables development ~0.8 GW added capacity in Brazil and Colombia 9M CAPEX breakdown1 Brazil Colombia USD 0.4 bn Projects in execution 25 Guayepo II 24 MW (166 MW built) 2025 Guayepo III 267 MW 2025 Project Net capacity remaining Expected CODCountry & tech (1) Only includes asset development CAPEX for renewables; (2) Arinos’ full net capacity is 611 MW, with 150 MW built in 2023 Atlantico 256 MW 2026 461 MW – Arinos2 194 MW – Pedra Pintada 166 MW – Guayepo II 547 MW currently in execution
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Generation business highlights Facing difficult hydro scenario in Colombia, partially mitigated by renewables development (1) First column refers to own production and purchases and second column refers to sales (2) Excludes 1.7 TWh in 2023, relat ed to production and sales from Costanera and Docksud (assets sold in Q1 2023); Excludes intercompany sales 26 +7% 18.9 10.4 0.5 8.0 8.8 18.3 19.0 9.4 17.9 12.6 0.7 7.6 11.1 18.9 21.3 9.8 46.6 46.6 50.0 50.0 9M 2023 9M 2024 Enel Américas2 12.3 0.20.5 1.62.0 9.6 3.5 3.5 9.8 0.80.7 1.8 2.9 9.6 3.7 2.8 16.6 16.6 16.1 16.1 9M 2023 9M 2024 -3% Colombia +10% 6.8 4.1 0.1 1.9 3.4 7.1 6.0 3.3 6.5 5.5 0.2 2.6 3.2 7.1 7.6 3.4 16.4 16.4 18.0 18.0 Q3 2023 Q3 2024 4.3 0.10.1 0.5 0.8 3.5 1.2 1.2 3.3 0.30.2 0.6 1.3 3.5 1.2 1.0 5.9 5.9 5.7 5.7 Q3 2023 Q3 2024 -2% 98% Emission-free production 98% 96%96% 98%99% 95%97% Own production Net installed capacity (GW) Hydro Coal Wind Solar 49% 27% 22% 2% 98% renewables 12.9 GW + 0.8 GW capacity built in 9M 2024 Hydro Renewable Thermal Third parties purchases Spot purchases Regulated sales Unregulated sales Spot sales Energy balance1
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9M 2023 9M 2024 Edesur 16.9% 16.9% São Paulo 10.4% 10.3% Rio 19.7% 19.8% Ceará 15.4% 14.7% Enel Colombia 7.5% 7.5% 9M 2023 9M 2024 9M 2023 9M 2024 Edesur 19.5 17.4 7.5 8.1 São Paulo 6.3 6.7 3.3 3.3 Rio 9.0 9.9 4.1 4.7 Ceará 9.3 10.5 4.0 4.1 Enel Colombia 8.4 8.2 8.9 8.8 SAIFI (times)SAIDI (hours) 22.1 22.5 9M 2023 9M 2024 76.4 79.8 9M 2023 9M 2024 25.8 26.4 Q3 2023 Q3 2024 Grids operational highlights Solid growth led by Brazil; quality indicators affected by extreme climate events Electricity distributed (TWh) Grid customers (mn) Quality indicators1 (1) SAIFI: System Average Interruption Frequency Index; SAIDI: System Average Interruption Duration Index. Last twelve months data, aligned to KPIs reported to local regulator, including effects of extreme climate events Energy losses +424k Smart meters (th) 1,223620 +3% Net RAB (USD bn) 11.911.6 Net RAB / Grid customer (USD) 529524 ~2x +3% +1% 27 +4%
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2.9 3.0 9M 2023 9M 2024 6.5 2.3 1.6 3.4 Dec. 2023 Sep. 2024 0.8 0.8 1.7 9M 2023 9M 2024 9M’24 increase explained by better result in Dx in Argentina & Colombia, Gx Brazil & Central America; Q3’24 decrease due to hydro conditions in Colombia and BRL devaluation 9M’24 explained by positive effect of Peru’s sale (USD +1.7 bn); Q3’24 negatively affected by lower Colombia result and tax effect in Peru (USD -0.1 bn) Financial highlights 9M’24 EBITDA increase mainly due to Grids Colombia, Grids Argentina, and Gx Brazil 28 EBITDA (USD bn) Net income (USD bn) Debt position (USD bn) +4% >3x 1.0 0.9 0.3 -43%-6%Q3 Significant decrease due to cash-in of the sale of Peruvian assets (USD 4.4 bn) and liability management in Brazil -30%2.5 Sale of Peruvian assets effect 9M 0.2 -4% exc. Peru tax effect 8.1 5.7
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52% 37% 11% 57% 37% 2% 4% 2,899 2,869 3,056 3,011 247 H1’23 (31) Disposals Adj. H1’23 (86) Generation Grids 19 Customers 7 Others Adj. H1’24 (45) FX H1’24 Rounded figures. (1) Disposals includes Cien (USD 13 mn), thermal Gx Argentina (USD 17 mn) and Cartagena (USD 0.3 mn) EBITDA breakdown: 9M 2024 results Growth explained by Grids Argentina, Grids Colombia, Gx Brazil and Gx Central America EBITDA evolution by business line (USD bn) EBITDA breakdown 29 Generation Grids Customers USD 3,011 mn USD 3,011 mn1 +4% +7% Argentina Brazil Colombia C. America
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3.01 1.61 0.09 EBITDA (0.44) NWC (0.49) Taxes paid (0.47) Net financial expenses FFO (1.52) CAPEX FCF Positive trends in NWC and financial expenses led to a positive FCF Cash flow (USD bn) Rounded figures. (1) Net working capital; (2) Funds from operations; (3) CAPEX accrued gross of contributions and connections fees. Differences between CAPEX accrued and CAPEX paid are included in the NWC; (4) Free cash flow. 9M 2023 2.90 (0.93) (0.55) (0.48) 0.94 (2.04) (1.10) 30 USD 0.66 bn Asset development CAPEX 1 2 3 4
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52%36% 10% 1% 52% 36% 12% 6.5 2.3 1.6 (2.4) 3.4 Dec. 23 Sep. 24 COP BRL USD Rounded figures. (1) Gross & net debt exclude accrued interests and adjustments after derivatives; (2) Net debt does not incl ude pension fund liability in Dx Sao Paulo. Including Sao Paulo pension fund: 0.9x; (3) Cash and cash equiv. + 90-day cash investments. Net Debt Cash3 Gross and net debt1 Net debt evolution USD 5.7 bn Gross debt breakdown Cost of gross debt -170 bps 12.2% 10.5% 8.1 Net debt/ EBITDA2 1.7x Country Currency USD 5.7 bn 5.7 0.6x 31 Debt (USD bn) Liability management actions led to a significant gross debt decrease C. America Colombia Brazil Holding 6.5 2.3 Dec. 23 (0.1) FCF 0.3 Dividend paid (4.1) Extr. Op. & others (0.4) FX Sep. 24 - 65%- 30% Debt reduction: (1.4) Brazil (0.4) Colombia (0.7) Enel Am
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This presentation contains statements that could constitute forward-looking statements. These statements appear in a number of places in this presentation and include statements regarding the intent, belief or current expectations of Enel Américas and its management with respect to, among other things: (1) Enel Américas’ business plans; (2) Enel Américas’ cost-reduction plans; (3) trends affecting Enel Américas’ financial condition or results of operations, including market trends in the electricity sector in Chile or elsewhere; (4) supervision and regulation of the electricity sector in Chile or elsewhere; and (5) the future effect of any changes in the laws and regulations applicable to Enel Américas or its subsidiaries. Such forward-looking statements reflect only our current expectations, are not guarantees of future performance and involve risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of various factors. These factors include a decline in the equity capital markets, an increase in the market rates of interest, adverse decisions by government regulators in Chile or elsewhere and other factors described in Enel Américas’ Annual Report. Readers are cautioned not to place undue reliance on those forward-looking statements, which state only as of their dates. Enel Américas undertakes no obligation to release publicly the result of any revisions to these forward-looking statements, except as required by law. Figures included in this presentation are rounded. Corporate Presentation Disclaimer 32
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Corporate Presentation Contact us Contacts Email - ir.enelamericas@enel.com Jorge Velis Head of Investor Relations Investor Relations team Nicolás Gracia Claudio Ortiz Sebastián Cisternas Francisco Basauri – ESG Channels Website www.enelamericas.com Mobile App Enel Américas Investors Thank you. iOS Download App Android 33
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Corporate Presentation Annexes
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GDP , CPI and FX 35 2025 Brazil 2.2 GDP (%) CPI (%)1 Fx (vs USD)2 2026 2027 2025 2026 2027 2025 2026 2027 2.4 2.3 3.7 3.7 3.2 5.2 5.1 5.1 Colombia 2.7 2.6 2.5 3.8 3.4 3.3 4,078 4,088 4,121 Argentina 3.1 2.8 2.9 41.0 39.8 36.5 2,109.0 2,864.0 3,803.0 Costa Rica 3.1 2.9 2.9 3.7 2.5 2.8 543.0 552.7 562.4 Guatemala 3.4 2.8 2.9 4.0 4.0 4.0 8.2 8.3 8.5 Panama 3.3 3.0 3.0 2.1 2.0 2.0 1.0 1.0 1.0 1. Year end. 2. Average for the period, except in Argentina (year-end Fx)
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Electricity distributed, Grid customers and Smart meters 36 2024 Argentina 2.7 Brazil 15.9 2027 2024 2027 2024 2027 2.9 18.5 19.7 0.0 0.0 16.6 72.4 75.0 1.3 5.3 Ceará 4.2 4.4 14.2 15.4 0.0 0.1 São Paulo 8.6 9.1 44.0 45.2 1.3 5.1 Rio 3.1 3.1 14.2 14.4 0.0 0.1 Colombia 3.9 4.2 15.5 16.2 0.1 0.1 TOTAL 22.5 23.7 106.4 110.9 1.4 5.4 Customers (mn) Electricity distributed (TWh) Smart meters (mn)
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Grids: current regulatory framework Smart meter inclusion in RAB Metering Ownership Regulatory Period Length (years) Next Regulatory Period WACC real pre tax 2024 Argentina Yes Owned by DSO 5 2025 12.5% Brazil Yes Owned by DSO 5 (Rio) 4 (São Paulo/Ceara) 2027-28 11.2% No Owned by users/DSO 5 2025 12.1% Colombia 37
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38 Total capex (USD bn) 2025 Argentina 0.0 Generation Grids Customers Services & others Total 2026 2027 2025 2026 2027 2025 2026 2027 2025 2026 2027 2025 2026 2027 0.0 0.0 0.2 0.3 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.3 0.3 Brazil 0.1 0.1 0.0 1.1 1.7 1.8 0.1 0.1 0.1 0.0 0.0 0.0 1.3 1.8 1.9 Colombia 0.4 0.3 0.2 0.3 0.3 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.7 0.6 0.4 Central America 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total 0.5 0.4 0.2 1.6 2.2 2.4 0.1 0.1 0.1 0.0 0.0 0.0 2.2 2.7 2.7 66% 23% 10% 1% By business lineBy country CAPEX 2025-271 Brazil Colombia Argentina C. America 82% 15% 4% Grids Generation CustomersUSD 7.5 bn USD 7.5 bn
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2024 CEO’s short-term variable remuneration Economic Strategy Financial Type of target ESG Profitability Business Financial Macro objective Safety Weight Net Income Enel Américas 15% Strategy Enel Américas 20% FCF Enel Américas 20% Objective Safety in the workplace 20% Range Maximum 120% Maximum 120% Maximum 120% Profitability Economic EBITDA Enel Américas Maximum 120% 39 25% Maximum 120%
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Corporate governance structure1 50% 33% 17% Shareholders’ meeting Audit firm Board of Directors (7 members) Directors Committee IndependentExecutive BoD’s composition Functions: Audit committee Sustainability committee Related parties' transactions 40 Non-executive elected by Enel SpA 1. As of November 2024 Vacancy
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33% 17% 17% 17% 17% Chilean Italian Colombian Spanish Brazilian Board composition 50% 33% 17% 0-3 years 6-9 years Over 12 years 83% 17% Board of Directors Board of Directors’ diversity1 Director Directors’ CommitteeJosé Antonio Vargas ChairmanBorja Acha Besga Luca Lo Voi Britaldo Soares Hernán Somerville Senn Iris Boeninger Tenure diversity Gender diversity Nationality diversity Male Female IndependentExecutive Director Director Vacancy Director Directors’ Committee (C) Director Directors’ Committee Director 41Non-executive elected by Enel SpA 1. As of November 2024
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81 83 84 90 92 2019 2020 2021 2022 2023 3.8 4.2 4.4 4.4 4.5 2020 2021 2022 2023 2024 47 53 56 67 67 2019 2020 2021 2022 2023 81 83 85 87 84 2019 2020 2021 2022 2023 AA AA AA AA AAA 2019 2020 2021 2022 2023 ESG raters and rankings Scale from CCC to AAA Scale from 0 to 100 Scale from 0 to 5 Scale from 0 to 100 Scale from 0 to 100 Scale from D- to A 42As of October 2024 B A- A- 2021 2022 2023 C B- 2022 2023 Scale from D- to A+