Slides
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November 22nd, 2024 Corporate Presentation November 2025 Enel Américas
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Index 1 Enel Américas at a glance 2 2025-2027 Strategic Plan 3 Q3 2025 Results
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Enel Américas at a glance
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Net debt / EBITDA (times) 1.7 EBITDA (US$ bn) 3.7 CAPEX (US$ bn) 2.7 Net Income (US$ bn) 0.9 RES Capacity (GW) 11.8 RES capacity (%) 98 Grid customers (mn) 22.2 2023 2024 0.6 3.7 2.1 2.61 12.6 98 22.6 Enel Américas at a glance (1) Includes net gain from disposal of Peruvian assets; (2) As of June 30, 2025; (3) August 20, 2025 Ownership structure2 Enel SpA Institutional investors Chilean Pension Funds Retail 82.3% 6.8% 10.1% 0.8% Market Cap3 USD 10.7 bn
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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 Efficiency and effectiveness Financial and environmental sustainability 3 OUR STRATEGIC PILLARS Pillars and key business drivers 5 Brazil Colombia Guatemala Panama Costa Rica Argentina Profitability, flexibility and resilience 1 2
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2025 - 2027 Strategic Plan
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Extreme weather events becoming more frequent… 7 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% 0 500 1000 1500 2000 2500 3000 2021 2022 2023 2024 2025 0% 20% 40% 60% 80% 100% 0 200 400 600 800 2021 2022 2023 2024 2025 …and climate change risk adding higher market volatility… Brazil1 Colombia2 COP/kWh BRL/MWh (1) Source: CCEE (Brazil) and XM (Colombia); (2) ONS (Brazil, Southeast) and XM (Colombia). (a) Implementation of change in spot price calculation methodology Reservoir level Spot price Reservoir level Price volatility period Spot price Reservoir level 8 Price volatility period Spot price volatility vs reservoirs levels a
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…but LatAm has significant potential for growth in our businesses 9 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 10 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). Brazil Colombia Argentina C. America
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…investing in countries with clear frameworks, enhancing remuneration visibility… Grids CAPEX RAB2 (USD bn) +24% 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 11 4.8 3.4 3.0 2024 7.1 3.8 3.0 2027 11.2 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; figures as of December 2024. 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) 14.8% 9.7 4.2 9.5% 10.2% 5.9 6.7 3.2 3.2 19.0% 20.1% 7.4 9.1 3.9 4.6 7.5% 7.5% 6.1 6.6 4.8 4.8 17.2% 12.9 16.2 6.9 8.0 2024 20272024 20272024 2027 Enel Américas 11.8% 12.9% 7.4 8.6 4.1 4.5 8.3 3.7 13.1% 20242024 2027 22.6 23.7 2027 106.9 110.9 Smart meters (mn) +4%+5% 12 1.4 5.4
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Increasing renewable capacity in Colombia, with coal phase-out by 20271… Energy balance (TWh) -14% 13 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. 34% 26% 1% 16% 23% 37% 43% 19% 65.7 65.7 40% 37% 9% 14% 38% 42% 20% 56.3 56.3 2024 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 2024 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 Project Expected CODCountry & tech Guayepo II 2025 Guayepo III 2025 Atlantico 2026 0.5 GW projects in execution
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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 +46% Key drivers 59% 35% 1% 5% 2024 USD 3.7 bn 9% 55% 32% 4% 2027 USD 5.4 bn Argentina Brazil Colombia C. América 14(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 53%36% 11% 2024 USD 3.7 bn 55%35% 10% 2027 USD 5.4 bn Grids Generation Customers +46%
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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.) 2024 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.) 586494 15 Brazil – Concession renewal Enel Colombia – Tariff review Edesur – Tariff review 2025 regulatory developments: Main grids business KPIs Networks’ upgrade3 Ordinary3 Connections Brazil Colombia Argentina 2.0FY 2024
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…while optimizing investments in renewables with a better risk-return balance… Generation CAPEX1 EBITDA evolution (USD bn) 2024 2027 33 43 25 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 0.02 2024E (0.1) Fx & CPI 0.41 Volume & price New projects 0.7 0.1 2027 1.4 1.8-1.9 0.7 0.5 0.2 0.1 0.9 0.2 62% 38% 2025-27 USD 1.1 bn 16 Main generation business KPIs Brazil Colombia Argentina C. America 1.3FY 2024
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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… 17 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) 10.3% 9.8% +43% 18 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 0.6x 0.7x 1.1 1.4 0.5 3.0 2025 2026 2027 2025-27 Debt maturities (USD bn) Maturities / Gross debt 21% 26% 10% Strong liquidity position (USD 4.7 bn) covers >100% of maturities over the plan period Cost of debt (%) Net debt/ EBITDA 5.2 6.4Gross debt (USD bn) (1) Related to Sao Paulo pension fund 2.1 FY 2024 2024 2027
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0.9 1.7 2024 2025 2027 2.6 1.4-1.6 1.5-1.73.7 2024 2025 2027 4.4-4.6 5.2-5.4 2.1 2.2 2.7 2024 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 0.024 per share and DPS is USD 0.007 per share. +26% CAGR 24-271 +8% CAGR 24-27 +13% CAGR 24-27 19 Ordinary Disposals Dividend policy of 30% of net income maintained 0.0082 0.014 0.016 EPS (USD/sh) 0.0022 0.004 0.005 DPS (USD/sh)
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Q3 & 9M 2025 Results
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Q3 2025 Key highlights 21 USD 1.03 bn Adj. EBITD A1 +9% Y oY EBITDA improvement explained by Generation in Colombia and Grids in Brazil & Colombia Financial results USD 0.47 bn 4% of outstanding shar es Immediate return for selling shareholders and DPS accretion for remaining shareholders Share buyback program Guayepo III construction ongoing, currently on testing phase with COD expected for Q1’26 + 0.8 TWh Colombia hy dro production +24% Y oY Operational results USD 0.46 bn Adj. Grids CAPEX1 +29% Y oY Grids CAPEX Grids CAPEX increase in all countries in digitalization & resilience This presentation includes Enel Gx Piura in its financial figures. (1) Adjusted figures exclude Fx impact
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Share buyback program Successful repurchase program of 4% of outstanding shares 22 Objectives and program characteristics Shareholders structure1 Optimization of capital structure, funded with remaining cash from sale of Peruvian assets Improvement in shareholders return, with DPS accretion for remaining shareholders and 15% premium for selling shareholders Percentage acquired: Subscription to program: Pro rata: Disbursement: 4.00% 4,291,195,581 shares 279.47% 35.78% USD 0.47 bn Program characteristics: (1) As of October 1, 2025. Treasury shares do not have dividend nor voting rights. Excluding them from the ownership, Enel ha s 85.7% and free float is 14.3% 82.3% 13.7% 4.0% Enel SpA Free float Treasury shares Outstanding shares 107,279,889,530
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Regulatory scenario Key recent and expected developments for our main markets Brazil Other relevant topics Dx concession renewal: • Enel Dx São Paulo process currently suspended due to STF ruling. Under appeal. • Enel Dx Ceará waiting for ANEEL’s recommendation • Enel Dx Rio waiting for MME1 approval Federal Supreme Court (STF) ruling2 related to the exclusion of ICMS from the PIS/COFINS calculation base and the term of prescription for these credits. Final written ruling expected on Q4 2025 Electric sector reform: • MP 1300 approved • MP 1304 approved by Mixed Commission, under legislative discussion. Expected vote by November 7 Approved 5% cap to spot sales: Applies to hydro generators Dx tariff review: New guidelines for the process published in July 2025 for comments H. El Chocón renewal: Concession extended until year- end; terms and conditions of the tender published, date set for November 7 Reform of the electricity framework3 • Restarting bilateral energy contracts • Definition of large costumers (GUDI)4 23 Argentina Colombia (1) Ministry of Mines and Energy; (2) Direct Action of Unconstitutionality (ADI) 7324; (3) Resolution 400/2025 of the Ministr y of Economy; (4) “Grandes usuarios de distribución” (demand above 300 KW)
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CAPEX by country and business1 31% 30% 38% 33% 30% 37% 76% 23% 1% 81% 18% 1%8% 62% 29% 1% 11% 57% 31% 1% Gross CAPEX Focus on Grids aligned with Strategic Plan goals Q3 2025 USD 541 mn (+20% YoY) USD 436 mn (+23% YoY) USD 541 mn (+20% YoY) 9M 2025 USD 1,486 mn (-2% YoY) USD 1,486 mn (-2% YoY) USD 1,123 mn (+13% YoY) 24 Grids Generation Customers Argentina Brazil Colombia C. America Net of Fx Grids CAPEX3 +29% YoY Net of Fx Grids CAPEX3 +23% YoY Grids CAPEX breakdown2 Networks upgrade Ordinary Connections Networks upgrade growth +66% YoY Networks upgrade growth +50% YoY Rounded figures. Does not include Enel Gx Piura’s CAPEX (USD 0.6 mn in Q3’25 and USD 1.4 mn in 9M’25). (1) Renewables business’ includes trading business; (2) Networks upgrade include CAPEX in resilience, digitalization & climate change, among others; Ordinary includes asset maintenance CAPEX; (3) Including Fx effect, Grids CAPEX variation is +23% for Q3’25 and +13% for 9M’25.
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22.5 22.9 9M 2024 9M 2025 79.8 79.8 9M 2024 9M 2025 Grids operational highlights Ongoing deployment of smart meters in Sao Paulo Rounded figures. (1) Figures net of Fx effect; (2) SAIFI: System Average Interruption Frequency Index; SAIDI: System Average Interruption Duration Index. Last twelv e months regulatory data, aligned to KPIs reported to local regulator. +392k Smart meters (th) 1,9581,223 Net RAB1 (USD bn) 12.711.4 Net RAB / Grid customer1 (USD) 553506 +60% +11% +9% 25 Flat 8.2 7.7Enel Colombia 10.5 8.4Enel Ceará 9.7 7.7Enel Rio 6.7 6.9Enel São Paulo 18.3 18.3Edesur 9M 2024 9M 2025 SAIDI (hours) 8.8 7.7 4.1 4.5 4.7 4.3 3.3 3.6 8.3 8.8 9M 2024 9M 2025 SAIFI (times) 7.5% 7.5%Enel Colombia 17.7% 16.8%Enel Ceará 23.8% 24.3%Enel Rio 11.1% 11.0%Enel São Paulo 16.9% 17.5%Edesur 9M 2024 9M 2025 Electricity distributed (TWh) Quality indicators2 Energy losses Grids customers (mn) Q3 2024 Q3 2025 26.4 26.4 Flat
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Generation operational highlights Higher generation in Colombia compensated by curtailments in Brazil 26 Net installed capacity (GW) Energy balance1 (TWh) 49% 27% 22% 2% 98% renewables 12.9 GW Hydro Wind Solar Coal 0.5 GW projects in execution 17.9 18.9 18.5 17.6 12.6 21.3 13.3 25.20.7 9.8 0.2 8.9 8.6 9.7 10.1 9.9 50.0 50.0 51.7 51.7 9M 2024 9M 2025 +3% 99%98% Emission-free production Own production Rounded figures, does not include figures related to Enel Gx Piura. (1) First column refers to sourcing (own production and p urchases) and second column refers to sales. Excludes intercompany sales Hydro Renewables Thermal Third party purchases Spot purchases Regulated sales Unregulated sales Spot sales 6.5 7.1 6.4 6.2 5.5 7.5 5.1 8.1 0.2 3.4 2.4 3.4 3.1 2.3 0.0 2.0 17.9 17.9 16.6 16.6 Q3 2024 Q3 2025 -7% 100%98%
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\\psf\Home\Desktop\ENELLOGO1.jpg 0.75 0.77 Q3 2024 Q3 2025 0.94 1.02 Q3 2024 Q3 2025 Q3’25 Adj. EBITDA increase mainly due to improved hydrology in Colombia and higher tariff indexation in Brazil and Colombia Q3’25 Adj. Net income decrease mainly by lower results in Argentina and Brazil Financial highlights Adj. EBITDA growth on better results in Brazil and Colombia 27 Adj. EBITDA1 (USD bn) FFO (USD bn) Adj. Net income2 (USD bn) +9% +3% Q3’25 FFO improvement mainly due to higher EBITDA in Brazil and Colombia Q3 Rounded figures. (1) Excludes Fx effect (USD -223 mn for 9M’25 and USD 5 mn for Q3’25); (2) Excludes contribution from Peruvian operations to Net income (USD -113 mn in Q3 2024 and USD -10 mn in Q3 2025; USD 1,857 mn in 9M 2024 and USD 1 mn in 9M 2025) 0.29 0.22 Q3 2024 Q3 2025 3.01 3.339M 0.61 0.64 -24% +11% +5% 1.61 1.83 +14%
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\\psf\Home\Desktop\ENELLOGO1.jpg 56% 42% 2% 0% 53%42% 0%0% 5% 939 1,024 1,029 Q3’24 64 Generation 18 Grids 0 Customers 3 Others1 Adj. Q3’25 5 Fx Q3’25 Rounded figures. (1) Others includes figures related to Peru (USD -6 mn) EBITDA breakdown: Q3 2025 results Positive results in Grids and Generation lead to EBITDA growth EBITDA evolution by business line (USD mn) EBITDA breakdown 28 USD 1,029 mn USD 1,029 mn +10% +9% Grids Generation Customers Others2 Argentina Brazil Colombia Peru C. America
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\\psf\Home\Desktop\ENELLOGO1.jpg 59% 39% 2% 0% 5% 50% 40% 0% 5% 3,011 3,329 3,106 9M’24 147 Generation 6499 Grids1 (16) Customers 24 Others2 Adj. 9M’25 (223) Fx 9M’25 163 Rounded figures. (1) USD 99 mn related to debt regularization agreement in Edesur; (2) Others includes figures related to Peru (USD 10 mn) EBITDA breakdown: 9M 2025 results Growth in Dx Argentina, Gx Colombia and Gx Central America help offset Fx headwinds EBITDA evolution by business line (USD mn) EBITDA breakdown 29 USD 3,106 mn USD 3,106 mn +3% +11% Grids Generation Customers Others2 Argentina Brazil Colombia Peru C. America
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\\psf\Home\Desktop\ENELLOGO1.jpg 3.11 1.83 0.34 EBITDA (0.60) NWC (0.31) Taxes paid (0.36) Net financial expenses FFO (1.49) CAPEX FCF Higher EBITDA, lower taxes and net financial expenses lead to positive cash generation 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 2024 3.01 (0.44) (0.49) (0.47) 1.61 (1.52) 0.09 30 1 2 3 4 of which USD 0.55 bn in Brazil due to: - USD 0.22 bn CVA - USD 0.16 IFRIC 12 - USD 0.18 delayed CAPEX payments
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\\psf\Home\Desktop\ENELLOGO1.jpg Net debt evolution 2.1 4.3 3.1 1.8 Dec. 24 Sep. 25 5.2 6.2 49% 38% 10%2% 1% 1% 49% 38% 11% 2% 1% (1) Gross & net debt exclude accrued interests and adjustments after derivatives; (2) Net debt and cash Includes USD 0.5 bn c ash linked to share buyback, payment executed on October 1; (3) Annualized ratio. Net debt does not include pension fund liability in Dx Sao Paulo. Including Sao Paulo pension fund: 1.1x; (4) Cash and cash equiv. + 90-day cash investments. (5) Includes USD 0.6 bn of tax payments in Peru (sale of Peruvian assets) Net Debt Cash4 Gross and net debt1-2 USD 6.2 bn Gross debt breakdown Cost of gross debt +100 bps 10.3% 11.3%Net debt / EBITDA3 0.6x Country Currency USD 6.2 bn 1.0x 31 Debt (USD bn) Net debt increase due to Fx appreciation, dividend and tax payments 2.1 4.3 0.9 1.0 0.7 Dec. 24 (0.3) FCF Dividend paid Extr. Op. & others5 FX Sep. 25 +103%+17% BRL COP USD ARS PEN Brazil Colombia Holding Argentina C. America Peru
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\\psf\Home\Desktop\ENELLOGO1.jpg 32 Closing remarks Grids CAPEX with a continued focus on reinforce quality and resilience Continued improvement in FFO due to higher EBITDA, lower financial expenses and lower taxes Q3 EBITDA improvement due to better results in Brazil and Colombia Successful execution of share buyback program, with high market interest 2026 Investor Day confirmed for Q1 2026
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Q3 & 9M 2025 Annexes
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\\psf\Home\Desktop\ENELLOGO1.jpg Current scenario Local currencies, inflation, electricity distributed and interest rates 34 Macroeconomic variables1 Electricity distributed Interest rates Selic MPR4 September 2024 September 2025 10.75% 15.00% 10.75% 9.25% (1) Source: Central Bank of each country; (2) Average Fx of the period, except for Argentina, which uses end-of-period FX. Panama is a dollarized economy, (3) Last 12 months; (4) Monetary policy rate Local currencies vs USD Inflation3 September 2024 September 2025 0.1%Panama -0.3% 1.5%Guatemala 2.1% -1.0%Costa Rica -0.1% 5.2%Colombia 5.8% 5.2%Brazil 4.4% 31.8%Argentina 209.0% 1.0% -0.1% -0.5% 0.0% 1.3% 0.2% ∆% Q3 ‘25 vs ‘24 ∆% 9M ‘25 vs ‘24 Colombia Brazil Argentina ∆%9M2 ‘25 vs ‘24 - 1% 2% -4% -8% -42% ∆% Q32 ‘25 vs ‘24 - 1% 4% 2% 2% -42%
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\\psf\Home\Desktop\ENELLOGO1.jpg Operating exhibits Distribution companies Distributor Costumers Energy distributed LTM (GWh) SAIDI (hours) SAIFI (times) Energy losses (%) City, Country Concession area (km2) Next tariff review Edesur 2,755,593 17,539 18.2 8.8 17.5% Buenos Aires, Argentina 3,309 2030 Enel Dx São Paulo 8,646,945 44,877 7.0 3.6 10.6% Sao Paulo, Brazil 4,526 2027 Enel Dx Rio 3,147,069 14,601 7.7 4.3 20.7% Niteroi, Brazil 32,615 2028 Enel Dx Ceará 4,317,884 14,453 8.4 4.5 13.8% Fortaleza, Brazil 148,921 2027 Enel Colombia-Dx 4,030,461 15,442 7.7 7.7 7.5% Bogota, Colombia 26,093 2027 Total 22,897,952 106,912 - - - - - - 35
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\\psf\Home\Desktop\ENELLOGO1.jpg 36 Operating exhibits Net installed capacity & Total net production: Breakdown by source and geography Does not include Enel Gx Piura MW Hydro Wind Solar Coal Total Argentina 1,328 0 0 0 1,328 Brazil 1,272 3,506 1,845 0 6,622 Colombia 3,097 0 881 226 4,205 Central America 543 0 162 0 706 Total 6,240 3,506 2,889 226 12,861 GWh Hydro Wind Solar Coal Total Argentina 1,890 0 0 0 1,890 Brazil 3,410 10,047 1,970 0 15,427 Colombia 11,386 0 1,133 169 12,688 Central America 1,809 0 157 0 1,966 Total 18,494 10,047 3,260 169 31,971 Net installed capacity (MW) Total net production (GWh)
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TO PR SP MG GO BA PI PE RN MT Brazil | Generation business Hydro Wind Solar 1,272 MW 3,506 MW 1,845 MW Submarket State Technology Parques MW Salto Apiacás 103 Primavera 22 Apiacas 16 141 Solar Sao Goncalo 864 Wind Lagoa dos Ventos 1,524 Intuverava 254 Horizonte 103 Frontes Solar 12 Morro do chapeu 525 Aroeira 348 Delfina 209 Pedra Pintada 194 Serra Azul 118 Cristal 90 Curva 57 PE Wind Frontes dos ventos 179 Cumaru 206 Modelo 56 4,739 GO Hydro Cachoeeira Dourada 658 Isamu Ikeda 29 Socibe 14 Alvorada 7 708 MG Solar Arinos 611 Volta Grande 380 Paranapanema 31 Quatira 5 1,027 South PR Hydro Mourao 8 8 HydroSPSoutheast TO Hydro Solar North Center-West Wind RN Wind Northeast PI BA MT Hydro MT: Mato Grosso, GO: Goiás, TO: Tocantins, PI: Piauí, BA: Bahía, PE: Pernambuco, RN: Rio Grande do Norte, MG: Minas Gerais, SP: São Paulo, PR: Paraná
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\\psf\Home\Desktop\ENELLOGO1.jpg Operating exhibits Energy balance of Enel Américas, Brazil and Colombia First column refers to sourcing (own production and purchases) and second column refers to sales. Excludes intercompany sales . Does not include Enel Gx Piura 38 3.9 5.3 4.7 11.6 16.8 12.0 21.1 6.7 4.6 6.7 7.9 6.7 7.1 3.4 28.9 28.9 30.4 30.4 9M 2024 9M 2025 +5% Brazil 1.4 2.1 1.8 5.2 6.0 4.6 6.7 2.2 2.8 2.4 1.1 0.8 10.3 10.3 9.3 9.30.9 1.1 Q3 2024 Q3 2025 -10% Emission-free production 100%100% 100%100% Own production Hydro Renewables Thermal Third party purchases Spot purchases Regulated sales Unregulated sales Spot sales 9.8 9.6 11.4 9.6 3.7 3.40.7 2.8 3.72.9 2.3 0.8 1.8 1.1 1.7 16.1 16.1 16.7 16.7 9M 2024 9M 2025 +4% Colombia 3.3 3.5 4.1 3.4 1.2 1.10.2 1.0 1.41.3 0.3 0.6 0.4 0.6 5.7 5.7 5.9 5.9 0.8 Q3 2024 Q3 2025 +3% 99%94% 100%95% -7% 17.9 18.9 18.5 17.6 12.6 21.3 13.3 25.20.7 9.8 0.2 8.9 8.6 9.7 10.1 9.9 50.0 50.0 51.7 51.7 9M 2024 9M 2025 +3% 6.5 7.1 6.4 6.2 5.5 7.5 5.1 8.1 0.2 3.4 3.4 3.1 0.0 17.9 17.9 16.6 16.6 2.3 2.0 2.4 Q3 2024 Q3 2025 100%98% 99%98% Enel Américas
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\\psf\Home\Desktop\ENELLOGO1.jpg 17.2 17.4 9M 2024 9M 2025 5.9 6.7 Sep. 2024 Sep. 2025 Operating exhibits Enel X & Retail (1) Includes charging points managed by Enel X Way; (2) Maintenance & Repair; (3) Solar photovoltaic (PV) Sep. 2025Sep. 2024 Δ% 39 Charging points1 (th) Street lighting (th) e-Buses (#) M&R2 contracts (th) PV3 (MWp installed) 11.8 744 926 941 65 14.0 760 926 957 113 +19% +2% +0% +2% +74% Enel X Retail Customers (th) Energy sold (TWh) +12% +1%
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\\psf\Home\Desktop\ENELLOGO1.jpg Financial exhibits (1) Depreciations, amortizations and impairments 40 Reported results Q3 2025 Q3 2024 ∆YoY 9M 2025 9M 2024 ∆YoY Revenues 3,654 3,603 +1% 10,443 10,352 +1% Gross Margin 1,431 1,336 +7% 4,342 4,197 +3% OPEX (401) (397) +1% (1,236) (1,186) +4% Reported EBITDA 1,029 939 +10% 3,106 3,011 +3% D&A1 (390) (341) +14% (1,155) (1,042) +11% EBIT 640 598 +7% 1,951 1,969 -1% Net financial results (207) (92) >100% (574) (629) -9% Non operating results 0 2 -81% (1) 4 <-100% EBT 433 508 -15% 1,376 1,343 +2% Income taxes (133) (128) +4% (446) (486) -8% Discontinued operations 0 (114) -100% 0 1,888 -100% Non-controlling interest (91) (90) +2% (289) (280) +3% Group Net Income 209 176 +19% 641 2,466 -74%
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\\psf\Home\Desktop\ENELLOGO1.jpg 8% 62% 31% 580 602 Q3 2024 Q3 2025 Quarterly and cumulative results Grids business results YTD EBITDA by country (USD mn) Q3 EBITDA evolution (USD mn) 1,909 (-1% YoY) 41 +4% Argentina Brazil Colombia
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\\psf\Home\Desktop\ENELLOGO1.jpg 34% 51% 12% 2% Quarterly and cumulative results Generation business results YTD EBITDA by country (USD mn)Q3 EBITDA evolution (USD mn) 42 1,242 (+8% YoY) Argentina Brazil Colombia C. America 382 448 Q3 2024 Q3 2025 +17%
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\\psf\Home\Desktop\ENELLOGO1.jpg Argentina (USD mn) (1) Grids business includes Enel X. Generation business includes trading business. Both, Generation and Grids businesses, inc lude Retail business; (2) “Total” included Holding and Services adjustments. Quarterly results 43 Q3 2024 Q3 2025 % Q3 2024 Q3 2025 % Q3 2024 Q3 2025 % Revenues 19 9 -50% 430 275 -36% 449 284 -37% Procurements and Services -2 -1 -69% -306 -222 -27% -308 -222 -28% OPEX -7 0 <-100% -108 -60 -45% -115 -60 -48% EBITDA 10 9 -6% 17 -6 <-100% 26 2 -91% Net Income 8 13 70% 0 -57 <-100% 8 -35 <-100% Gross Capex 0 0 >100% 42 45 8% 42 45 9% Net Production (GWh) 1,001 545 -46% - - - 1,001 545 -46% Energy Sales (GWh) 1,002 546 -46% 4,635 4,684 1% - - - Av. Spot Price ($US/MWh) N.A. N.A. - - - - N.A. N.A. - Energy losses (%) - - - 16.9% 17.5% - - - - Customers (Th) - - - 2,698 2,756 2% 2,698 2,756 2% Generation1 Grids1 Total2
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\\psf\Home\Desktop\ENELLOGO1.jpg Argentina (USD mn) (1) Grids business includes Enel X. Generation business includes trading business. Both, Generation and Grids businesses, inc lude Retail business; (2) “Total” included Holding and Services adjustments. Cumulative results 44 9M 2024 9M 2025 % 9M 2024 9M 2025 % 9M 2024 9M 2025 % Revenues 42 37 -12% 1,013 1,134 12% 1,055 1,170 11% Procurements and Services -4 -3 -20% -697 -732 5% -701 -735 5% OPEX -21 -6 -70% -274 -257 -6% -296 -265 -11% EBITDA 17 27 60% 42 145 >100% 58 171 >100% Net Income -43 17 <-100% 31 -4 <-100% -31 9 <-100% Gross Capex 0 0 >100% 111 160 45% 111 161 45% Net Production (GWh) 2,517 1,890 -25% - - - 2,517 1,890 -25% Energy Sales (GWh) 2,519 1,891 -25% 13,470 13,459 0% - - - Av. Spot Price ($US/MWh) N.A. N.A. - - - - N.A. N.A. - Energy losses (%) - - - 16.9% 17.5% - - - - Customers (Th) - - - 2,698 2,756 2% 2,698 2,756 2% Generation1 Grids1 Total2
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\\psf\Home\Desktop\ENELLOGO1.jpg Q3 2024 Q3 2025 % Q3 2024 Q3 2025 % Q3 2024 Q3 2025 % Revenues 295 358 22% 1,832 1,978 8% 2,131 2,336 10% Procurements and Services -105 -168 61% -1,301 -1,392 7% -1,404 -1,555 11% OPEX -32 -32 0% -151 -189 26% -207 -238 15% EBITDA 158 158 0% 380 398 5% 520 543 4% Net Income 82 82 0% 68 7 -90% 155 111 -28% Gross Capex 37 29 -20% 246 305 24% 282 336 19% Net Production (GWh) 6,616 5,738 -13% - - - 6,616 5,738 -13% Energy Sales (GWh) 10,288 9,282 -10% 17,923 17,842 0% - - - Av. Spot Price ($US/MWh)3 33 45 37% - - - 33 45 37% Energy losses (%) - - - 13.0% 13.1% - - - - Customers (Th) - - - 15,870 16,112 2% 15,870 16,112 2% Total2Generation1 Grids1 (1) Grids business includes Enel X. Generation business includes trading business. Both, Generation and Grids businesses, inc lude Retail business; (2) “Total” included Holding and Services adjustments; (3) Southeast/Central-west region 45 Brazil (USD mn) Quarterly results
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\\psf\Home\Desktop\ENELLOGO1.jpg 9M 2024 9M 2025 % 9M 2024 9M 2025 % 9M 2024 9M 2025 % Revenues 868 966 11% 5,275 5,315 1% 6,153 6,279 2% Procurements and Services -276 -450 63% -3,512 -3,607 3% -3,783 -4,038 7% OPEX -97 -94 -4% -488 -529 9% -651 -686 5% EBITDA 494 422 -15% 1,275 1,179 -8% 1,720 1,555 -10% Net Income 233 181 -23% 183 94 -49% 396 320 -19% Gross Capex 377 89 -76% 697 763 9% 1,075 853 -21% Net Production (GWh) 15,531 15,427 -1% - - - 15,531 15,427 -1% Energy Sales (GWh) 28,887 30,444 5% 54,815 54,803 0% - - - Av. Spot Price ($US/MWh)3 19 37 98% - - - 19 37 98% Energy losses (%) - - - 13.0% 13.1% - - - - Customers (Th) - - - 15,870 16,112 2% 15,870 16,112 2% Generation1 Grids1 Total2 (1) Grids business includes Enel X. Generation business includes trading business. Both, Generation and Grids businesses, inc lude Retail business; (2) “Total” included Holding and Services adjustments; (3) Southeast/Central-west region 46 Brazil (USD mn) Cumulative results
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\\psf\Home\Desktop\ENELLOGO1.jpg Q3 2024 Q3 2025 % Q3 2024 Q3 2025 % Q3 2024 Q3 2025 % Revenues 458 429 -6% 529 558 6% 931 930 0% Procurements and Services -280 -173 -38% -307 -302 -2% -531 -416 -22% OPEX -23 -29 23% -39 -46 17% -63 -75 19% EBITDA 155 227 47% 183 211 15% 337 439 30% Net Income 74 123 67% 70 81 17% 143 205 43% Gross Capex 46 65 43% 79 91 15% 125 156 25% Net Production (GWh) 3,821 4,535 19% - - - 3,821 4,535 19% Energy Sales (GWh) 5,742 5,899 3% 3,867 3,915 1% - - - Av. Spot Price ($US/MWh) 144 54 -62% - - - 144 54 -62% Energy losses (%) - - - 7.5% 7.5% - - - - Customers (Th) - - - 3,938 4,030 2% 3,938 4,030 2% Grids1Generation1 Total2 Colombia (USD mn) 47 Quarterly results (1) Grids business includes Enel X. Generation business includes trading business. Both, Generation and Grids businesses, inc lude Retail business; (2) “Total” included Holding and Services adjustments.
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\\psf\Home\Desktop\ENELLOGO1.jpg Colombia (USD mn) 48 Cumulative results (1) Grids business includes Enel X. Generation business includes trading business. Both, Generation and Grids businesses, inc lude Retail business; (2) “Total” included Holding and Services adjustments. 9M 2024 9M 2025 % 9M 2024 9M 2025 % 9M 2024 9M 2025 % Revenues 1,360 1,223 -10% 1,691 1,629 -4% 2,888 2,688 -7% Procurements and Services -766 -507 -34% -964 -894 -7% -1,565 -1,233 -21% OPEX -82 -77 -7% -118 -150 28% -201 -228 14% EBITDA 512 639 25% 610 585 -4% 1,122 1,226 9% Net Income 253 332 31% 246 213 -13% 499 544 9% Gross Capex 102 246 >100% 227 216 -5% 329 462 41% Net Production (GWh) 11,359 12,688 12% - - - 11,359 12,688 12% Energy Sales (GWh) 16,097 16,725 4% 11,508 11,531 0% - - - Av. Spot Price ($US/MWh) 134 60 -55% - - - 134 60 -55% Energy losses (%) - - - 7.5% 7.5% - - - - Customers (Th) - - - 3,938 4,030 2% 3,938 4,030 2% Generation1 Grids1 Total2
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\\psf\Home\Desktop\ENELLOGO1.jpg Central America (USD mn) 49 Quarterly & cumulative results Q3 2024 Q3 2025 % 9M 2024 9M 2025 % Revenues 92 88 -4% 255 253 -1% Procurements and Services -24 -24 0% -106 -73 -32% OPEX -9 -10 21% -25 -26 4% EBITDA 60 54 -9% 124 154 25% Net Income 33 30 -9% 51 76 49% Gross Capex 1 4 >100% 5 9 99% Net Production (GWh) 804 716 -11% 1,880 1,966 5% Energy Sales (GWh) 914 917 0% 2,482 2,600 5% Central America
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\\psf\Home\Desktop\ENELLOGO1.jpg Peru (USD mn) 50 Quarterly & cumulative results Q3 2024 Q3 2025 % 9M 2024 9M 2025 % Revenues - 16 n.a. - 53 n.a. Procurements and Services - -7 n.a. - -23 n.a. OPEX - -15 n.a. - -20 n.a. EBITDA - -6 n.a. - 10 n.a. Net Income - -10 n.a. - 1 n.a. Gross Capex - 1 n.a. - 1 n.a. Net Production (GWh) - 75 n.a. - 208 n.a. Energy Sales (GWh) - 99 n.a. - 307 n.a. Peru
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\\psf\Home\Desktop\ENELLOGO1.jpg 0.5 1.7 0.6 3.3 2025 2026 2027 After 2027 Consolidated financial position Liquidity, debt maturities and credit profile 51 Liquidity position Debt maturities (USD bn) 8% 28% 10% Maturities / Gross debt Average maturity of 3.6 years Baa2/Stable (June 2025) BBB-/Negative (June 2025) BBB+/Stable (March 2025) AA/Stable (June 2025) Credit profile 49%51% Committed credit lines Cash and cash equivalents USD 2.7 bn
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\\psf\Home\Desktop\ENELLOGO1.jpg IndependentExecutive of the Enel Group Corporate governance structure 57% 29% 14% Shareholders’ meeting Audit firm Board of Directors (7 members) Directors Committee BoD’s composition Functions: Audit committee Sustainability committee Related parties' transactions 52 Non-executive elected by Enel SpA
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\\psf\Home\Desktop\ENELLOGO1.jpg 29% 29% 14% 14% 14% Chilean Italian Colombian Spanish Brazilian Board composition 57% 14% 14% 14% 0-3 years 6-9 years 9-12 years Over 12 years 86% 14% Board of Directors Board of Directors’ diversity DirectorLuca Lo Voi ChairmanBorja Acha Besga Roberto Deambrogio José Antonio Vargas Iris Boeninger Britaldo Soares Tenure diversity Gender diversity Nationality diversity Male Female IndependentExecutive of the Enel Group Director Director Directors’ Committee Hernán Somerville Senn Directors’ Committee (C) Director Directors’ Committee Director Director 53Non-executive elected by Enel SpA
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\\psf\Home\Desktop\ENELLOGO1.jpg Ethics, Integrity, Human Rights, and Diversity Corporate Governance: Sustainability: • Corporate Governance practices • Action protocol in dealing with public officials and public authorities • Protocol of acceptance and offering of gifts, presents, and favors • Induction procedure for new Directors • Procedure for permanent training and continuous improvement of the Board of Directors • Information procedure for shareholders about the background of candidates for Director • Habituality policy • Tax transparency and reporting • Engagement policy – Investor Relations • Bylaws • Manual for the Management of Information of Interest to the Market • Ethical code • Zero Tolerance Plan for Corruption • Global Compliance Program on Corporate Criminal Liability • Criminal Risk Prevention Model • Compliance Program for Free Competition Regulations • Human Rights Policy • Diversity Policy • Privacy and data protection policy • Sustainability and Community Relations Policy • Environmental policy • Biodiversity policy Enel Américas - Policies, principles and codes 54
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Strategic Plan Annexes
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56% 9% 33% Consolidated capacity and production 56 Production (TWh)Capacity (GW) 49% 22% 27% 2% 12.9 GW 47% 26% 27% 13.2 GW 2024 2027 51% 14% 35% 0.4% 43.6 TWh 2024 2027 2% 40.4 TWh 51% 33% 10% 5% 12.9 GW 50% 35% 10% 5% 13.2 GW 51% 35% 7% 6% 40.4 TWh 54%34% 6% 6% 43.6 TWh Hydro Solar Wind Coal Brazil Colombia Argentina Central America 2024 2027 2024 2027 By Tech By Country
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Electricity distributed, Grid customers and Smart meters 57 2024 Argentina 2.7 Brazil 15.9 2027 2024 2027 2024 2027 2.9 17.6 19.7 0.0 0.0 16.6 73.9 75.0 1.3 5.3 Ceará 4.3 4.4 14.2 15.4 0.0 0.1 São Paulo 8.5 9.1 44.9 45.2 1.3 5.1 Rio 3.1 3.1 14.9 14.4 0.0 0.1 Colombia 4.0 4.2 15.4 16.2 0.1 0.1 TOTAL 22.6 23.7 106.9 110.9 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 Argentina Yes Owned by DSO 5 2030 10.0% Brazil Yes Owned by DSO 5 (Rio) 4 (São Paulo/Ceara) 2027-28 11.2% No Owned by users/DSO 5 2027 12.1% Colombia 58
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59 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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60 Gross debt (USD bn) 44% 43% 12% BRL COP USD USD 5.2 bn By currency 2024 56% 44% USD 6.4 bn 2027 44% 43% 12% Brasil Colombia Holding USD 5.2 bn 56% 44% USD 6.4 bn By country 2024 2027
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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. Corporate Presentation Disclaimer 61
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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 Thank you. iOS Download App Android 62 Corporate Presentation Contact us