Interim report
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29th of July 2026
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Disclaimer This document has been prepared by EDP Renewables, S.A. (the “Company”) solely for use at the presentation to be made on this date. It is for information purposes only, may be amended or supplemented and does not purport to be complete. By attending the meeting at which this presentation is made, or by reading the presentation materials, you acknowledge and agree to be bound by the following limitations and restrictions. This presentation may not be reproduced, in whole or in part, or used for any other purpose without the prior written consent of the Company. This presentation and any materials, documents or information used therein or distributed to investors in connection with it do not constitute, nor shall they be construed as, an offer (public or private) to sell or issue, or the solicitation of an offer (public or private) to buy or acquire, any securities of the Company or any of its subsidiaries or group companies in any jurisdiction, nor as an inducement or recommendation to engage in any investment activity. Neither this presentation, nor any materials, documents or information used therein or distributed in connection with it, nor any part thereof, nor the fact of its distribution, shall form the basis of, or be relied upon in connection with, any contract, commitment or investment decision whatsoever, nor may it be used in connection with any offer (public or private) relating to securities issued by the Company. Matters discussed in this presentation may constitute forward-looking statements. Forward-looking statements are statements other than in respect of historical facts. The words “believe,” “expect,” “anticipate,” “intend,” “estimate,” “will,” “may,” “continue,” “should” and similar expressions usually identify forward-looking statements. Forward-looking statements include, without limitation, statements regarding objectives, goals, strategies, outlook and growth prospects; future plans, events or performance and potential for future growth; liquidity, capital resources and capital expenditures; economic outlook and industry trends; energy demand and supply; developments in the Company’s markets; the impact of legal and regulatory initiatives; and the Company’s competitive position. The forward-looking statements contained in this presentation are based upon various assumptions, including management’s examination of historical operating trends, data contained in the Company’s records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, they are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Important factors that may lead to significant differences between actual results and expectations regarding future events or results include, among others, the Company’s business and financial strategy, national and international economic conditions, technological developments, legal and regulatory conditions, industry developments, hydrological conditions, cost of raw materials, financial market conditions and uncertainty regarding the results of future operations, plans, objectives, expectations and intentions. Such risks, uncertainties and other factors may cause the actual results, performance or achievements of the Company or industry results to differ materially from those expressed or implied in such forward- looking statements. The information, opinions and forward-looking statements contained in this presentation speak only as at the date of this presentation and are subject to change without notice, unless required by applicable law. The Company, and its respective directors, representatives, employees and/or advisors, do not assume any obligation to update, revise or amend any information, opinions or forward-looking statements contained in this presentation, whether as a result of new information, future events or otherwise. EDPR 1H26 Results Report Disclaimer 2
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EDPR 1H26 Results Report Index 3 03. Income Statements 04. ESG Performance 05. Annex 02. Regional Breakdown 31 38 26 17 Main highlights for the quarter 4 01. Consolidated Performance 6
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Main highlights for the first half of the year EDPR 1H26 Results Report Main highlights for the quarter Index 4 20,503 MW +4% vs Jun-25 +1,759 MW Electricity Generation 22,073 GWh +4% vs 1H25 Renewables Index 98% -1 pp vs 1H25 Key Operational data Net Debt Recurring EBITDA Key Financial data Installed capacity (EBITDA + Equity MW) Last 12 Months Gross Additions (EBITDA + Equity MW) (vs expected LT average P50 GCF) Recurring Net profit €183 m +33% vs 1H25 -48% vs Jun-25 €8,682 m +7% vs Dec-25 (€m) (€m) (€m) (GWh) +8% 960 1,033 45 97 306 234 597 636 12 66 1H25 1H26 North America Europe Rest of World In 1H26, EDPR recurring EBITDA rose 8% YoY to €1,033m, or +12% excluding forex effect (mostly due to the +7% YoY avg. depreciation of the USD vs. the EUR), driven by portfolio expansion (mainly in the US) and higher asset rotation gains in 1H26 (€66m in Italy). Gross capacity additions in the last 12 months amounted to +1.8 GW, and asset rotations executed in the period amounted to 0.9 GW, resulting in +0.9 GW increase in net installed capacity to 20.5 GW (+7% YoY increase of average installed capacity). Electricity sales decreased -2% YoY €1,143m (+2% ex-forex), with average selling price decreasing by -6% YoY (-2% excluding forex) to €51.8/MWh, impacted by lower prices in Europe (mainly in Iberia) and forex effect, partially offset by higher prices in North America and Brazil. On the back of lower average realized price. Electricity generation increased 4% YoY to 22.1 TWh, on the back of higher installed capacity YoY with renewable resources 2% below LT average. Income from institutional partnerships in the US rose +19% YoY to €261m, driven by increase in installed capacity during the period. Recurring Core Opex decreased -2% YoY, on the back of efficiency measures in place. In relative terms, adjusted Core Opex per Average MW decreased -5% to €40k/MW. Financial results stood stable YoY supported by lower average cost of debt at 4.5% in 1H26 (vs. 4.6% in 1H25) and lower average Net Debt in the period, offset by lower capitalized interests YoY, following the decline in MW under construction. Non-Controlling interest increased +12% YoY to €64m, resulting from two minority stake transactions in US in portfolios during 3Q25 and 4Q25. Reported Net Profit increased +96% YoY to €184m, from solid operational performance and higher asset rotation gains offset by higher depreciation, non-controlling interest and forex. Recurring Net profit increased +33% YoY (+43% ex-forex) to €183m, with immaterial non-recurring impact in 1H26 of +€1m compared to -€44m registered in 1H25. As of Jun-26, Net Debt of €8.7bn was +€0.6bn higher vs Dec-25, driven by Net Expansion Investments, partially offset by €0.2bn Organic Cash-Flow and by €0.5bn of Asset rotation and Tax Equity proceeds. AR gains
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Overview of the period Operational Data 1H26 1H25 Δ Y o Y EBITDA MW 18,901 18,115 +786 Equity MW 1,602 1,507 +95 Installed Capacity (EBITDA MW + Equity MW) 20,503 19,622 +881 Load Factor (%) 29.2% 30.1% -1 pp Generation (GWh) 22,073 21,170 +4% Avg. Selling Price (€/MWh) 51.8 54.9 -6% Profit & Loss (€m) 1H26 1H25 Δ Y o Y % Gross Profit 1,408 1,424 -1% Other operating costs (net) 8 -97 —% Opex -377 -384 -2% Share of profit of associates 19 4 —% EBITDA 1,057 948 11% EBITDA/Revenues 75% 67% 9p.p D&A, Impairments and Provisions -560 -481 +16% EBIT 497 466 +7% Net Financial Expenses -243 -244 —% Taxes -7 -72 -91% Non-controlling interests -64 -57 +12% Net Profit (Equity holders of EDPR) 184 93 +96% Recurring EBITDA 1,033 960 +8% Recurring EBITDA ex. gains 967 948 +2% Recurring Net Profit 183 137 +33% Change in Net Debt (€m) 1H26 1H25 Δ Y o Y % EBITDA 1,057 948 +11% Non-cash, Income Tax & Changes in WC -600 -403 +49% Net Cash-Flow from Operations 456 545 -16% Interest, Partnerships & Other -258 -250 +3% Organic Cash-Flow 198 295 -33% Net Expansion Investments -647 -1,290 -50 Dividends paid to EDPR Shareholders -10 -3 — Forex & Other -114 272 — Decrease / (Increase) in Net Debt -573 -726 -21% Investment Activity (€m) 1H26 1H25 Δ Y o Y % Capex 715 1,119 -36% Net Financial Investments 533 38 —% Gross Investments 1,248 1,157 +8% (-) AR proceeds -271 -97 +180% (-) TEI proceeds -181 -132 +38% Other -148 361 —% Net Expansion Investments 647 1,290 -50% Debt (€m) Jun-26 Dec-25 Δ Net Debt 8,682 8,109 573 Net Debt/LTM EBITDA 4.2x 4.2x 0.1x Net Debt/LTM Recurring EBITDA 4.2x 4.1x 0.1x EDPR 1H26 Results Report Main highlights for the period Index 5
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EDPR 1H26 Results Report Consolidated Performance Index 6 Index Consolidated Performance01. 1.2. Operational Performance 1.3. Financial Performance Blue Harvest Solar Farm, USA 7 10 12 1.1. Asset Base 1.4. Cash-Flow & Investment Activity 1.5. Net Debt 13 15
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1.1. Asset Base Installed Capacity (MW) Jun-26 YoY 1H261 Under Constr.Additions AR/Decom. Δ Y T D EBITDA MW Spain 2,161 -110 +80 — +80 203 Portugal 1,426 +13 — — — 33 France 249 -42 — — — 25 Belgium — -11 — — — — Poland 621 — — — — 242 Romania 570 — — — — — Italy 401 -171 — -69 -69 30 Greece 23 -127 — — — 35 UK 55 +50 — — — 50 Netherlands 49 — — — — 31 Hungary 74 — — — — — Germany 105 +105 — — — — Europe 5,735 -291 +80 -69 +10 648 United States 9,481 +801 +2 -4 -2 825 Canada 130 — — — — — Mexico 496 — — — — — North America 10,106 +801 +2 -4 -2 825 Brazil 1,743 +100 — — — — Chile 143 +60 +60 — +60 — South America 1,886 +160 +60 — +60 — Vietnam 405 +3 +3 — +3 — Singapore 465 +76 +26 -2 +24 33 RoAPAC 304 +38 +1 — +1 39 APAC 1,174 +116 +30 -2 +28 72 Total EBITDA MW 18,901 +786 +172 -75 +96 1,544 Installed Capacity (MW) Jun-26 YoY 1H26 Under Constr.Additions AR/Decom. Δ Y T D Equity Consolidated (MW) Spain 119 -2 — -12 -1 — Portugal 28 — — — — — Rest of Europe 749 +98 +18 — +18 364 Europe 896 +96 +18 -1 +16 364 United States 641 — — — — — Canada 59 — — — — — North America 701 — — — — — RoAPAC 6 -1 — — — — APAC 6 -1 — — — — Total Eq. Cons. MW 1,602 +95 18 -2 16 364 Total EBITDA + Eq. MW 20,503 +881 189 -77 112 1,908 As of jun-26, EDPR installed capacity reached 20.5 GW having added +1.8 GW of gross capacity additions in the last 12 months, with North America accounting for 48% and Europe 36% of this growth. Solar represented 46% of the total additions and BESS more than doubling installed capacity to 0.6 GW. EDPR also rotated 0.9 GW in the last 12 months, about half of the capacity added, resulting in +0.9 GW YoY change in installed capacity. EDPR signed the sale of 68 MW wind and solar portfolio in Italy, with capacity deconsolidation and asset rotation gains accounted in 2Q26 as conditions precedent were met in June 2026, while asset rotation proceeds will be accounted in 2H26. In May 2026, EDPR signed the sale of EDPR Brasil, to EDP, encompassing all its operating and development activities, including a 1.8 GW wind and solar portfolio, with capacity only being deconsolidated after closing, by year-end 2026. As of jun-26, >95% of ~1.5 GW target additions were already installed or under construction. EDPR 1H26 Results Report Consolidated Performance Index 7 1 YTD variation considers the decommissioning of 4 MW in North America, 2 MW in APAC and 1 MW in Italy. 2 Portfolio equity adjustment.
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EDPR 1H26 Results Report Consolidated Performance Index 8 15 14 0.6 3 10 13 4 0.5 2 2 0.6 9 7 7 4 2 5 4 3 9 1H26 Remaining Life 0 3 5 8 10 13 15 18 20 23 25 28 30 33 35 Spain Portugal Germany France Poland Romania Italy Greece UK Netherlands Hungary US Canada Mexico Brazil Chile Vietnam Singapore RoAPAC EDPR 32% 53% 9% 6% Europe North America South America APAC 20.5 GW I nstalled Capacity by Region EBITDA MW + Equity MW Assets' Average Age & Useful Life by Country EBITDA MW + Equity MW 64% 24% 5% 4% 3% Onshore Wind Solar Utility Scale Solar DG Offshore Wind BESS 20.5 GW EBITDA MW Installed Capacity by Technology Existing portfolio average age of 9 years old, where wind is more mature with 12 years old, and solar and BESS much younger with 2 and 1 average year old, respectively. Remaining useful life is based on standard useful life assumed of 35, 30 and 20 years for wind, solar and BESS respectively.
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1.2. Operational Performance Electricity generation rose +4% YoY to 22.1TWh, with North America and Europe contributing 62% and 26%, respectively, and solar representing 25% of total generation while wind remains the primary source at 75%. The Renewables Index stood at 98% of the LT average for 1H26 (-1 pp YoY), mainly higher in Europe by +3 pp. YoY despite weak resources in 2Q26, North America remains stable YoY at 1% above average , APAC +5 pp YoY, and South America was below average by -15 pp , mostly in Brazil (- 15 p.p.). Average Selling Price fell -6% YoY (-2% ex-forex) to €51.8/MWh due to lower European electricity prices, mainly in Iberia due to lower FiT prices in Portugal and lower pool prices in Spain, and a shift in the generation mix with higher weight from regions with relatively lower prices such as North America, even if higher YoY, and South America, with negative forex and reduced hedging. Excluding Forex, mainly from US dollar, average selling price fell -2% YoY. All in all, Gross profit decreased -1% YoY to 1,408m on the back of lower electricity sales -2% YoY, +2% YoY excluding forex, offset by a +19% YoY rise in Income from Institutional Partnerships due to new US capacity additions. EDPR 1H26 Results Report Consolidated Performance Index 9 Electricity Generation 22,073 +4% vs 1H25 (GWh) Avg. Selling Price 51.8 -6% vs 1H25 (€/MWh) Gross Profit 1,408 -1% vs 1H25 (€m) 30% 61% 4% 5% Europe North America South America APAC 26% 62% 8% 4% Europe North America South America APAC 22.1 TWh 1,408€ M 50.1 $ 213.7R$ Europe North America South America APAC 73.3€ 85.5€
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Renewables Index (vs expected LT Avg. GCF) 1H26 1H25 Δ YoY Europe 96% 92% +3 pp North America 101% 101% — pp South America 84% 99% -15 pp APAC 99% 95% +5 pp EDPR 98% 99% -1 pp Load Factor 1H26 1H25 Δ YoY Europe 23.6% 24.2% -1 pp North America 33.8% 34.5% -1 pp South America 23.8% 30.1% -6 pp APAC 18.4% 16.9% +2 pp EDPR 29.2% 30.1% -1 pp Electricity Generation (GWh) 1H26 1H25 Δ YoY % Europe 5,656 5,766 -2% North America 13,657 12,730 +7% South America 1,877 1,920 -2% APAC 884 754 +17% EDPR 22,073 21,170 +4% Note: Operational Performance considers only capacity consolidated at EBITDA level. Avg. Selling Prices (per MWh) 1H26 1H25 Δ YoY % Europe 73.3€ 82.4€ -11% North America 50.1US$ 48.6US$ +3% South America 213.7R$ 187.9R$ +14% APAC 85.5€ 84.6€ +1% EDPR 51.8€ 54.9€ -6% Electricity Sales (€m) 1H26 1H25 Δ YoY % Europe 414 475 -13% North America 587 567 +4% South America 67 57 +17% APAC 76 64 +19% EDPR1 1,143 1,162 -2% Income from Institutional Partnerships (€m) 1H26 1H25 Δ YoY % Income from Institutional Partnerships 261 219 +19% Gross Profit (€m) 1H26 1H25 Δ YoY % Europe 414 503 -18% North America 847 789 +7% South America 58 49 +18% APAC 75 69 +9% EDPR 1,408 1,424 -1% EDPR 1H26 Results Report Consolidated Performance Index 10 1 Difference between Total and Platforms belongs to Corporate Holding. 1 1
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1.3. Financial Performance EDPR 1H26 Results Report Consolidated Performance Index 11 Recurring EBITDA improved +8% YoY, +12% excluding forex, to €1,033m, impacted by higher asset rotation gains YoY (€66m in 1H26 vs. €12m in 1H25),supported by higher installed capacity resulting in higher generation, along with persistent cost-control strategy, partially offset by lower average realized electricity price. EDPR continued with efficiency improvements translating into a -2% YoY reduction in recurring Core Opex. Other operating costs (net) decreased YoY , on the back of higher asset rotation YoY and lower Spain generation taxes YoY. Financial results amounted to €243m in 1H26, remaining stable YoY with improvement in average cost of debt YoY from 4.6% in 1H25 to 4.5% in 1H26 (Jun-26 stable vs. Dec-25) and lower net debt YoY offset by lower capitalized financial expenses. Non-Controlling interest increased by +12% to €64m, resulting from two minority stake transactions in US, 49% sale of a 392 MW portfolio of solar and BESS assets in 3Q25 and of a 1.6 GW portfolio of wind, solar and BESS assets in 4Q25. At the bottom line, recurring Net Profit increased +33% YoY to €183m, with top line performance and stronger YoY asset rotation gains, operational efficiency and financial resilience offset by higher D&A due to growth efforts. 960 1,033 1H25 1H26 Recurring EBITDA (€m) Recurring Net Profit (€m) +8% Recurring Core Opex1 376 -2% vs 1H25 (€m) 137 183 1H25 1H26 1,033 +8% vs 1H25 967 +2% vs 1H25 -2% +33% 1.Note: Core Opex = Supplies and Services + Personnel Costs 383 376 1H25 1H26
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Revenues and cost of energy sales 1,147 1,205 -5% Income from Institutional Partnerships 261 219 +19% Gross Profit 1,408 1,424 -1% Other operating costs (net) 8 -97 — Opex -377 -384 -2% Supplies and services (S&S) -249 -244 +2% Personnel costs (PC) -129 -140 -8% Recurring Core Opex -376 -383 -2% Share of profit of associates 19 4 — EBITDA 1,057 948 +11% Recurring EBITDA 1,033 960 +8% Provisions -59 -0.4 —% Depreciation, amortisation and impairments -512 -498 +3% Amortisation of deferred income (gov. grants) 12 17 -33% EBIT 497 466 +7% Net Financial Expenses -243 -244 -0.4% Interest Costs -207 -223 -7% Institutional partnerships costs -49 -52 -5% Capitalised financial expenses 35 54 -36% Forex & Derivatives -6 -8 -24% Other -15 -16 -5% Profit before income tax and CESE 254 223 +14% Income taxes1 -7 -72 -91% Net Profit for the period 247 150 +65% Non-controlling interests -64 -57 +12% Net Profit (Equity holders of EDPR) 184 93 +96% Recurring Net Profit 183 137 +33% Income Statement (€m) 1H26 1H25 Δ YoY % FX (€/) 1H26 1H25 Δ YoY $ End of Period 1.14 1.17 -3% $ Average 1.17 1.09 +7% $R End of Period 5.90 6.44 -8% $R Average 6.01 6.29 -4% Efficiency and Profitability Ratios 1H26 1H25 Δ YoY % Annualized Core Opex/Avg. MW (€k) 40.6 44.2 -8% Annualized Adj. Core Opex/Avg. MW (€k)2 39.5 41.6 -5% Recurring EBITDA margin 73% 67% +6 pp Recurring EBITDA/Avg. MW (€k) 55.6 55.3 +0.5% Strong depreciation of USD, with foreign exchange rate EUR/USD average increasing +7% YoY and EUR/BRL decreased -4% YoY. Operation efficiency efforts resulting in lower adjusted Core Opex per MW at €40k decreasing by -5% YoY and higher EBITDA margin of 73%, +6 pp YoY. Reported EBITDA includes €23m non-recurring impact related to reversal of 2025 losses on trade receivables in Vietnam and HR restructuring. Provisions totalled -€59m including €61m non-recurring item related to retroactive adjustment of pre-2024 tariffs in Vietnam. Depreciation & amortizations include non-recurring items of €39m in 1H26 related to accelerated depreciation of wind assets in US and net impairments, mostly in US and South America. Income taxes include non-recurring impacts of €58m. At reported Net Profit in 1H26, non-recurring impacts totalled an immaterial net impact of €1m including net impact in Vietnam (-€26m) and net impact from US accelerated depreciation and other adjustments and impairments (+€27m). EDPR 1H26 Results Report Consolidated Performance Index 12 1 Includes €2m from extraordinary contribution to the energy sector (CESE). 2Adjusted by offshore costs (mainly cross-charged to projects’ SPVs), service fees and one-offs in 1H26 and for O&M seasonality in 1H26. Note: Core Opex = Supplies and Services + Personnel Costs
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1.4. Cash-Flow & Investment Activity Change in Net Debt (€m) 1H26 1H25 Δ YoY % EBITDA 1,057 948 +11% Non-cash Items -259 -208 +25% Income Tax Paid -25 -45 -44% Changes in Working Capital -316 -150 +110% Net Cash-Flow from Operations1 456 545 -16% Net Interest Paid -158 -97 +63% Minorities/Partnerships -60 -113 -47% Other2 -40 -39 +1% Organic Cash-Flow 198 295 -33% Net Expansion Investments -647 -1,290 -50% Dividends paid to EDPR Shareholders -10 -3 — Forex -114 270 — Other (including one-off adjustments)3 — 2 — Decrease / (Increase) in Net Debt -573 -726 -21% Investments (€m) 1H26 1H25 Δ YoY % Total Capex 715 1,119 -36% Europe 211 291 -28% North America 445 681 -35% South America 22 101 -78% APAC 34 45 -25% Other 3 1 +143% Net Financial Investments 533 38 — Gross Investments 1,248 1,157 +8% (-) AR proceeds -271 -97 +180% (-) TEI proceeds -181 -132 +38% Other4 -148 361 —% Net Expansion Investments 647 1,290 -50% Gross Investment totalled €1.2bn in 1H26 +8% YoY , with US and Europe accounting for around 95%, reflecting a low-risk markets focused growth with additions concentrated in the 2H26. Net Financial investment increased YoY, following the equity investment in OW. In 1H26, asset rotation proceeds of €0.3bn related with the closing of the sale of a 150 MW wind portfolio in Greece (capacity deconsolidation and asset rotation gains registered in 4Q25). The New institutional partnerships in the US generated total proceeds of €0.2bn. Other includes net debt deconsolidation, resulting from the signing of the sale of EDPR Brasil to EDP. E DPR 1H26 Results Report Consolidated Performance Index 13 1 Name changed from "Cash Flow from Operations", but the rational behind values is the same. Includes AR gains of €66m in 1H26 and €12m gains in 1H25. 2 Includes Payment of Lease Liabilities and other. 3 Includes other financial costs and other one-off adjustments. 4 Includes Loans with NCI, Changes in WC PP&E suppliers, reclassification of AR gains and other. Organic Cash-Flow reached €198m decreasing -33% YoY negatively impact by changes in working capital (-€166m YoY) related to a peak on trade receivables in Jun-26, expected to be normalized in the next quarters. Net Debt increased by €0.6bn vs. Dec-25 to €8.7bn as of jun-26, mainly driven by €0.6bn in net expansion investments, supporting EDPR's portfolio growth, which was partially offset by organic cash flow.
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Capex was lower -36% YoY, reflecting focused growth in EDPR's core low-risk markets with 62% invested in North America and 29% in Europe with additions following disciplined investment. Property, Plant & Equipment - PP&E (€m) Jun-26 Dec-25 Δ € PP&E (net) 19,962 20,901 -940 (-) PP&E work in progress (gross of impairments) 1 3,951 4,452 -501 (+) Accumulated Depreciation & Impairment 9,770 9,465 +305 (-) Government Grants 148 757 -609 (=) Invested capital on operating assets 25,632 25,157 +475 (-) TEI proceeds accumulated 6,254 5,874 +380 PP&E WIP (€m) Jun-26 Dec-25 Δ € PP&E work in progress net of imparments 2,976 3,538 -562 PP&E work in progress continues with a downward trajectory as projects commissioning are partially offset by new growth. EDPR 1H26 Results Report Consolidated Performance Index 14 1 Name changed from "PP&E assets under construction", but the rational behind values is the same. Capex by Region 29% 62%3%5%0.5% Europe North America South America APAC Other
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1.5. Net Debt Net Debt (€m) Jun-26 Dec-25 Δ € Nominal Financial Debt 9,155 9,231 -76 3rd Parties Debt 717 1,469 -753 EDP Group Debt 8,438 7,761 +677 Accrued Interest 97 152 -55 Collateral Deposits -3 -68 +66 Financial Debt + Accrued Interest 9,249 9,314 -66 Cash & Equivalents -562 -1,199 +637 Deferred Costs -5 -11 +6 Shareholder Loans & other — 4 -4 Net Debt 8,682 8,109 +573 Average Debt (€m) 1H26 2025 Δ YoY % Average Nominal Financial Debt 9,248 9,806 -6% Average Net Debt 8,374 8,960 -7% Leverage ratios (x) Jun-26 Dec-25 Δ Net Debt/LTM EBITDA 4.2x 4.2x +0.1x Net Debt/LTM Recurring EBITDA 4.2x 4.1x +0.1x EDPR 1H26 Results Report Consolidated Performance Index 15 Net Debt % Nominal Financial Debt by Counterparty €m 16% 8% 84% 92% 1H26Dec-25 3rd Parties EDP Group +7% 8,109 8,682 Net Debt stood at €8.7bn in Jun-26, higher by €0.6bn YTD and lower by €0.3bn YoY, with nominal financial debt and accrued interest decreasing YTD as well as cash and equivalents. 1H26Dec-25
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EDPR 1H26 Results Report Consolidated Performance Index 16 EUR 66% USD 24% Other 10% Nominal Financial Debt Analysis by Currency Fixed 85% Variable 15% by Type 4.6% 4.5% 1H25 1H26 12% 2% 14% 14% 57% 2026 2027 2028 2029 >2029 Avg. Cost of Debt by Maturity Avg. cost of debt in the period stood at 4.5% (vs 4.6% in 1H25), with decreased rates in all currencies and USD depreciated. In terms of currency, EDPR has reduced its Debt in USD to 24% vs 37% in Dec-25 and 35% in Jun-25, also impacted by forex EDPR has 85% of its financial debt at fixed rate and more than 70% of debt maturing from 2029 onwards.
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EDPR 1H26 Results Report Regional Breakdown Index 17 Index Regional Breakdown02. 2.2. North America 2.3. South America 18 20 22 2.1. Europe 2.4. APAC 24 Blue Harvest Solar Farm, USA
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Opex ratios 1H26 1H25 Δ YoY % Annualized Core Opex/Avg. MW (€k) 55.4 54.5 +2% Income Statement (€m) 1H26 1H25 Δ YoY % Gross Profit 414 503 -18% Other operating costs (net) 41 -36 — Opex -156 -156 — Supplies and services (S&S) -134 -118 +13% Personnel costs (PC) -22 -37 -40% Share of profit of associates 1 0.4 +18% EBITDA 299 312 -4% EBITDA/Revenues 72% 62% +10 pp Provisions -0.1 -0.2 -36% Depreciation, amortisation and impairments -134 -140 -4% Amortisation of deferred income (gov. grants) 0.3 0.3 — EBIT 164 172 -5% EDPR 1H26 Results Report Regional Breakdown Index 18 EDPR Europe: EBITDA MW by Market United Kingdom 55 France 249 Italy 401 Germany 105 Poland 359 262 Greece1 23 Netherlands1 47 3 Hungary1 74 Romania 570 PPA/Hedge Merchant 1 Exit countries Gross profit in Europe decreased -18% YoY, resulting from a decrease of -11% YoY in realized prices mainly due to lower FiT prices in Portugal and lower pool prices in Spain, combined with lower generation ( -2% YoY) driven by lower installed capacity YoY due to asset rotation deconsolidation and 4% resources below LT average in 1H26 despite an improvement YoY. Other operating costs (net) increased YoY, impacted by higher asset rotation gains (+€54m YoY, with gains of €66m mostly from Italy), lower 7% tax generation in Spain +€7m YoY and +€8m YoY related to clawbacks in Romania in 1H25. EBITDA evolution YoY impacted by lower realized prices and deconsolidation of portfolios sold, mitigated by capacity additions and €66m additional asset rotation gains mostly from 68 MW transaction in Italy. Spain 387 1,774 Portugal 1,426 2.1. Europe (MW)
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Operational Indicators EBITDA MW Load Factor Generation (GWh) Avg. Selling Price (€/MWh) 1H26 1H25 Δ YoY 1H26 1H25 Δ YoY 1H26 1H25 Δ YoY % 1H26 1H25 Δ YoY % Spain 2,161 2,272 -110 23.1% 23.4% — pp 2,111 2,211 -5% 55.2 68.7 -20% Portugal 1,426 1,413 +13 27.5% 26.2% +1 pp 1,696 1,531 +11% 72.5 79.0 -8% France 249 291 -42 19.5% 20.0% -1 pp 205 234 -12% 61.9 72.9 -15% Belgium — 11 -11 — 23.6% — — 10 — — 72.3 — Poland 621 621 — 21.1% 26.2% -5 pp 563 674 -16% 88.6 99.3 -11% Romania 570 570 — 23.1% 24.4% -1 pp 560 563 -1% 107.0 112.5 -5% Italy 401 572 -171 21.5% 24.1% -3 pp 379 393 -4% 112.4 110.1 +2% Greece1 23 150 -127 — 18.7% — — 102 — — 76.3 — UK 55 5 +50 27.2% 19.3% +8 pp 5 4 +41% 171.2 182.9 -6% Hungary 74 74 — 19.0% — — 45 17 +166% 85.4 35.1 +143% Netherlands2 49 49 — — — — 33 26 +25% 60.2 70.0 -14% Germany 105 — +105 13.6% — — 58 — — 69.3 — —% Europe 5,735 6,026 -291 23.6% 24.2% -1 pp 5,656 5,766 -2% 73.3 82.4 -11% Non-controlling Interest (Net MW) 1H26 1H25 Δ YoY Spain 83 83 — Portugal 360 354 +6 Rest of Europe 46 46 — Europe 490 484 +6 Equity MWs 1H26 1H25 Δ YoY Spain 119 120 -1 Portugal 28 28 — Rest of Europe 749 652 +98 Europe 896 800 +96 EDPR 1H26 Results Report Regional Breakdown Index 19 1 Greece project in testing phase. 2 Netherlands and Germany NCFs not reported due to immaterially contribution in the period. 2
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FX (€/$) 1H26 1H25 Δ YoY % End of Period 1.14 1.17 (3%) Average 1.17 1.09 +7% Opex ratios 1H26 1H25 Δ YoY % Annualized Core Opex/Avg. MW ($k) 40.7 44.1 -8% Income Statement ($m) 1H26 1H25 Δ YoY % Revenues and cost of energy sales 683 623 +10% Income from Institutional Partnerships 304 239 +27% Gross Profit 988 863 +14% Other operating costs (net) -64 -33 +94% Opex -203 -199 +2% Supplies and services (S&S) -138 -133 +3% Personnel costs (PC) -65 -66 -1% Share of profit of associates 21 21 — EBITDA 742 652 +14% EBITDA/Revenues 75% 76% -0.4 pp Provisions — — — Depreciation, amortisation and impairments -373 -339 +10% Amortisation of deferred income (gov. grants) 13 18 -29% EBIT 382 331 +15% Gross profit in North America increased by +14% YoY, mainly reflecting the considerable incremental income from institutional partnerships enabled by new PTCs and ITCs due to new capacity additions in US (+0.8 GW), resulting in a 8% YoY increase in installed capacity , with generation increasing +7% YoY together with improvement in prices (+3% YoY). OPEX increased as a result of higher capacity in operation. However, on an unitary basis annualized core Opex/Avg MW decreased -8% YoY, showcasing the efficiency efforts in place despite growth. Overall EBITDA increased +14% YoY supported by increase in generation resulting from new capacity additions and improved prices. EDPR 1H26 Results Report Regional Breakdown Index 20 Washington 101 — Oregon 300 — California 1,209 — Arizona 400 — Colorado 104 — Minnesota 101 — Iowa 600 — Illinois 1,120 77 New York 259 106 Ohio 325 — North Carolina 74 — South Carolina 60 — Indiana 1,287 259 Mississippi 275 — Arkansas 175 — Oklahoma 455 Texas 1,387 —Kansas 400 — EDPR US: EBITDA MW by Market Merchant PPA/Hedge Solar DG314 Storage from DG18 2.2. North America (MW) 74
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Operational Indicators EBITDA MW Load Factor Generation (GWh) Avg. Selling Price ($/MWh) 1H26 1H25 Δ YoY 1H26 1H25 Δ YoY 1H26 1H25 Δ YoY % 1H26 1H25 Δ YoY % United States 9,481 8,680 +801 33.8% 34.7% -1 pp 12,728 11,843 +7% 50 48 +4% Canada 130 130 — 35.3% 38.4% -3 pp 200 217 -8% 65 65 +1% Mexico 496 496 — 33.6% 30.6% +3 pp 730 670 +9% 54 56 -3% North America 10,106 9,305 +801 33.8% 34.5% -1 pp 13,657 12,730 +7% 50 49 +3% Non-controlling Interest (Net MW) 1H26 1H25 Δ YoY United States 2,032 1,287 +745 Canada 65 65 — Mexico 98 98 — North America 2,195 1,449 +745 MW per Incentive 1H26 1H25 Δ YoY MW with PTCs 2,828 3,030 -202 MW with ITCs 2,819 2,176 +643 MW with Cash Grant and Self Shelter 1,014 1,014 — Equity MWs 1H26 1H25 Δ YoY United States 641 641 — Canada 59 59 — Mexico — — — North America 701 701 — EDPR 1H26 Results Report Regional Breakdown Index 21
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FX (€/$R) 1H26 1H25 Δ YoY % End of Period 5.90 6.44 -8% Average 6.01 6.29 -4% Opex ratios 1H26 1H25 Δ YoY % Annualized Core Opex/Avg. MW (€k) 25.3 27.7 -8% Income Statement (€m) 1H26 1H25 Δ YoY % Gross Profit 58 49 +18% Other operating costs (net) -1 -2 -55% Opex -23 -22 +5% Supplies and services (S&S) -19 -18 +7% Personnel costs (PC) -4 -4 -3% Share of profit of associates — — — EBITDA 34 25 +35% EBITDA/Revenues 59% 51% +7 pp Provisions 2.5 -0.2 — Depreciation, amortisation and impairments -23 -16 +44% Amortisation of deferred income (gov. grants) — — — EBIT 13 9 +51% Gross profit in South America, increased +18% YoY, driven by higher average MW in operation resulting from new capacity additions and higher average selling price (+20% YoY) partial offset by weaker generation (-2% YoY) on the back of lower renewable resources (16% below LT average). Opex broadly stable with annualized core Opex/Avg MW decreasing -8% YoY due to increase in installed capacity and continued cost discipline. EBITDA increased +35% YoY, mainly reflecting the contribution from higher average selling price and continued operational efficiency efforts, despite lower electricity generation. EBIT increased +51% YoY, benefiting from the strong EBITDA performance and the positive impact of provisions reversals in South America. In May 2026, EDPR signed the sale of EDPR Brasil, to EDP, encompassing all its operating and development activities, including a 1.8 GW wind and solar portfolio, with capacity only being deconsolidated after closing, by year-end 2026. EDPR 1H26 Results Report Regional Breakdown Index 22 EDPR South America: EBITDA MW by Market Santa Catarina 13 Rio Grande do Sul 70 Rio Grande do Norte 212 866 São Paulo 458 Paraíba 124 Chile 83 Solar Wind 2.3. South America (MW) BESS 60
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Operational Indicators EBITDA MW Load Factor Generation (GWh) Avg. Selling Price (€/MWh) 1H26 1H25 Δ YoY 1H26 1H25 Δ YoY 1H26 1H25 Δ YoY % 1H26 1H25 Δ YoY % Brazil 1,743 1,643 +100 24.1% 31.0% -7 pp 1,812 1,862 -3% 35.3 29.9 +18% Chile 143 83 +60 18.2% 16.3% +2 pp 64 58 +10% 41.4 20.6 +101% South America 1,886 1,726 +160 23.8% 30.1% -6 pp 1,877 1,920 -2% 35.5 29.6 +20% Non-controlling Interest (Net MW) 1H26 1H25 Δ YoY Brazil 162 162 — Chile — — — South America 162 162 — EDPR 1H26 Results Report Regional Breakdown Index 23
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Opex ratios 1H26 1H25 Δ YoY % Annualized Core Opex/Avg. MW (€k) 37.3 48.1 -23% Income Statement (€m) 1H26 1H25 Δ YoY % Gross Profit 75 69 +9% Other operating costs (net) 29 -15 — Opex -22 -25 -13% Supplies and services (S&S) -12 -12 -2% Personnel costs (PC) -10 -13 -24% Share of profit of associates 0.14 -3 — EBITDA 83 26 — EBITDA/Revenues 110% 38% +73 pp Provisions -61 — — Depreciation, amortisation and impairments -27 -27 +3% Amortisation of deferred income (gov. grants) 0.1 0.08 +64% EBIT -6 -1 — Gross profit in APAC increased +9% YoY, with generation increasing +17% YoY, higher average selling price of +1%, partially offset by FX. Opex decreased YoY to -€22m reflecting strong effort in cost-control strategy and management focus on efficiency, with annualized core Opex/Avg. MW decreasing -23% YoY. Other Net operating income/ (costs) increased to €29m due to the reversal of impairment losses on trade receivables of €25m registered in 2025 regarding lower cash collection from Vietnam feed-in-tariffs. Overall, EBITDA in 1H26 increased to €83m. Excluding one-offs, EBITDA recurring totalled €58m with better operational and efficiency efforts. At EBIT level in 1H26, EDPR recognised a €61m provision representing the best estimate of the present obligation arising from the proposed Vietnam tariff settlement mechanism, which is expected to be settled through future tariff adjustments, totalling a net impact of one-offs of -€36m at EBIT level. EDPR 1H26 Results Report Regional Breakdown Index 24 EDPR APAC: EBITDA MW by Market Vietnam 47 358 RoAPAC1 Singapore 423 42 Japan 35 Solar DG Solar Utility Scale 2.4. APAC (MW) China 212 — Taiwan 56 —
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Operational Indicators EBITDA MW Load Factor Generation (GWh) Avg. Selling Price (€/MWh) 1H26 1H25 Δ YoY 1H26 1H25 Δ YoY 1H26 1H25 Δ YoY % 1H26 1H25 Δ YoY % Vietnam 405 402 +3 23.5% 21.5% +2 pp 410 373 +10% 72.7 78.4 -7% Singapore 465 389 +76 16.0% 13.0% +3 pp 284 209 +36% 110.6 105.6 +5% RoAPAC 304 266 +38 14.4% 15.3% -1 pp 191 172 +11% 75.6 72.4 +4% APAC 1,174 1,058 +116 18.4% 16.9% +2 pp 884 754 +17% 85.5 84.6 +1% Non-controlling Interest (Net MW) 1H26 1H25 Δ YoY Vietnam 62 62 — Singapore — — — RoAPAC 10 13 -2 APAC 72 74 -2 Equity MWs 1H26 1H25 Δ YoY Vietnam — — — Singapore — — — RoAPAC 6 7 -1 APAC 6 7 -1 EDPR 1H26 Results Report Regional Breakdown Index 25
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EDPR 1H26 Results Report Financial Statements Index 26 Index Financial Statements03. 3.2. EDPR: Income Statement by Region 3.3. EDPR Europe: Income Statement by Country 27 28 29 3.1. EDPR: Balance sheet Blue Harvest Solar Farm, USA
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3. Financial Statements 3.1. EDPR: Balance Sheet Assets (€m) Jun-26 Dec-25 Δ € Property, plant and equipment, net 19,962 20,901 -940 Intangible assets and goodwill, net 2,471 2,470 +1 Financial investments, net 1,478 1,158 +321 Deferred tax assets 872 774 +98 Inventories 230 241 -12 Accounts receivable - trade, net 830 577 +253 Accounts receivable - other, net 2,056 2,170 -113 Right-of-use asset 804 818 -14 Collateral deposits 3 68 -66 Cash and cash equivalents 562 1,199 -637 Assets held for sale 1,897 15 +1,882 Total Assets 31,165 30,390 +775 Deferred revenues from institutional partnerships primarily represent the non-economic liability associated to the tax credits already realised by the institutional investor, arising from accelerated tax depreciation, and yet to be recognised as income by EDPR throughout the remaining useful lifetime of the respective assets. Deferred tax liabilities reflect the liabilities arising from temporary differences between the accounting and the tax basis of assets and liabilities. Liabilities (€m) Jun-26 D ec-25 Δ € Financial debt 9,247 9, 372 - 125 Institutional partnerships 1,198 1,247 -49 Rents due from lease contracts (IFRS 16) 904 9 07 -3 Provisions 674 6 72 +2 Deferred tax liabilities 979 9 40 + 39 Deferred revenues from institutional partnerships 1,724 1, 669 + 55 Other liabilities 4,037 3 ,404 +63 3 Total Liabilities 18,762 1 8,210 + 552 Total Equity and Liabilities 31,165 30, 390 + 775 Equity (€m) Jun-26 D ec-25 Δ € Share capital + share premium 7,357 7 ,367 -1 0 Reserves and retained earnings 2,916 2 ,692 + 224 Consolidated net profit attributable to equity holders of EDPR 184 216 -32 Shareholders Equity 10,456 1 0,274 +182 Non-controlling interests 1,947 1 ,906 +41 Total Equity 12,403 12 ,180 + 223 EDPR 1H26 Results Report Financial Statements Index 27
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3.2. EDPR: Income Statement by Region 1H26 (€m) Europe N. America S. America APAC Other/Adj. EDPR Revenues and cost of energy sales 414 586 58 75 14 1,147 Income from Institutional Partnerships — 261 — — — 261 Gross Profit 414 847 58 75 14 1,408 Other operating costs (net) 41 -54 -1 29 -7 8 Opex -156 -174 -23 -22 -3 -377 Supplies and services (S&S) -134 -118 -19 -12 34 -249 Personnel costs (PC) -22 -56 -4 -10 -37 -129 Share of profit of associates 1 18 — — 1 19 EBITDA 299 636 34 83 5 1,057 EBITDA/Revenues 72% 75% 59% 110% n.a. 75% Provisions — — 3 -61 — -59 Depreciation, amortisation and impairments -134 -320 -23 -27 -7 -512 Amortisation of deferred income (gov. grants) — 11 — — — 12 EBIT 164 327 14 -6 -3 497 Note: Offshore and intragroup adjustments are reported in "Other/Adj". 1H25 (€m) Europe N. America S. America APAC Other/Adj. EDPR Revenues and cost of energy sales 503 570 49 69 13 1,205 Income from Institutional Partnerships — 219 — — — 219 Gross Profit 503 789 49 69 13 1,424 Other operating costs (net) -36 -30 -2 -15 -14 -97 Opex -156 -182 -22 -25 1 -384 Supplies and services (S&S) -118 -122 -18 -12 26 -244 Personnel costs (PC) -37 -60 -4 -13 -25 -140 Share of profit of associates 0.4 19 — -3 -12 4 EBITDA 312 597 25 26 -12 948 EBITDA/Revenues 62% 76% 51% 38% n.a. 67% Provisions -0.20 — -0.18 — — — Depreciation, amortisation and impairments -140 -310 -16 -27 -5 -498 Amortisation of deferred income (gov. grants) — 17 — — — 17 EBIT 172 303 9 -1 -18 466 E DPR 1H26 Results Report Financial Statements Index 28
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3.3. EDPR Europe: Income Statement by Country 1H26 (€m) Spain Portugal RoE Other/Adj. Europe Gross Profit 118 121 175 — 414 Operating Costs, Other operating income & Share of profit -75 -31 -8 — -115 EBITDA 43 90 167 — 299 EBITDA/Revenues 36% 74% 95% n.a. 72% D&A, Impairments and Provisions -49 -34 -52 — -134 EBIT -6 56 115 — 164 1H25 (€m) Spain Portugal RoE Other/Adj. Europe Gross Profit 178 121 208 -3 503 Operating Costs, Other operating income & Share of profit -64 -33 -92 -3 -191 EBITDA 114 88 115 -6 312 EBITDA/Revenues 64% 73% 56% n.a. 62% D&A, Impairments and Provisions -48 -33 -55 -4 -139 EBIT 66 55 61 -9 172 EDPR 1H26 Results Report Financial Statements Index 29
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3.4. EDPR : Income Statement Discontinued Operations 1H26 (€m) EDPR Continued Operations Brazil Discontinued Operations EDPR Revenues 1,352 55 1,408 Recurring EBITDA 1,000 34 1,033 EBIT 553 19 572 Recurring Net profit 210 -28 183 EDPR 1H26 Results Report Financial Statements Index 30
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EDPR 1H26 Results Report ESG Performance Index 31 Index ESG Performance04. 4.2. Social 4.3. Governance 32 34 36 4.1. Environmental Blue Harvest Solar Farm, USA 4.4. ESG ratings 37
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4.1. Environmental Environment Unit 1H26 1H25 Δ Emissions Avoided emissions1 ktCO2 12,259 12,160 +1% Total emissions (Scope 1 and 2) ktCO2 20 13 +56% Scope 1 GHG Emissions2 ktCO2 1.7 1.9 -12% Scope 2 GHG Emissions3 ktCO2 19 11 +68% Circularity Waste generated kt 18.0 0.9 - Hazardous waste kt 0.24 0.21 +16% Non-hazardous waste kt 17.8 0.6 - Waste recovered % 94% 62% +32 pp Hazardous waste recovered % 86% 92% -6 pp Non-hazardous waste recovered % 96% 53% +43 pp Environmental matters Environmental CAPEX €m 4 14 -71% Environmental OPEX €m 3 4 -34% Environmental fines and penalties €m — — - Emissions CO₂ emissions avoided increased +1% YoY mainly due to a +4% YoY increase in electricity generation, partially offset by a -4% YoY decrease in the average thermal emission factor, reflecting a general cleaner generation mix. The decrease in Scope 1 emissions was mainly driven by a -67% YoY decrease in SF6 emissions, which are usually due to equipment malfunctions resulting in leaks. This was partially offset by higher vehicle fleet activity in the US, mainly reflecting the higher installed capacity in the region (+0.8 GW YoY). Scope 2 emissions increased mainly due to higher self-consumption at power generation plants, particularly in the US. This trend reflects continued growth in installed capacity, driven by wind power (+0.4 GW additions YoY) and, more significantly, by the expansion of solar assets (+0.8 GW additions YoY), which led to higher backfeed power consumption at operating sites. Circularity In line with its commitment to enhance circularity across the assets' full life cycle, EDPR is reporting the waste generated in the construction and dismantling phases (in addition to the waste generated in the operational phase). Around 96% of the waste generated in 1H26 is attributable to the expanded reporting scope described above, coming mostly from construction, and, if excluded, the waste generated in 1H26 would be around 0.7 kt, broadly in line with the 0.9 kt in 1H25. The additional waste reported is mainly non-hazardous and highly recoverable, resulting in a +32 pp increase of the total recovery rate. Environmental matters Environmental CAPEX decreased mainly due to lower investments in landscape protection and other environmental protection activities, while environmental OPEX also declined driven by reduced biodiversity and environmental protection-related costs. In addition, EDPR has once again recorded no environmental fines or penalties, reinforcing the robustness of its environmental management approach. EDPR 1H26 Results Report ESG Performance Index 32 1 CO2 avoided calculated as energy generation * CO2 eq. emission factors of each country and state within the US. Please note that these factors vary in accordance with the country/state's energy mix; 2 Scope 1 includes emissions from the service fleet, gas consumption in offices and SF6 gas leaks; 3 Scope 2 includes emissions from electricity consumption in wind farms, solar plants and offices. Calculation in accordance with GHG Protocol location-based methodology.
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Technology is helping advance biodiversity research through a pioneering stork migration project in Poland Every year, white storks travel thousands of kilometres across continents, crossing diverse landscapes and ecosystems on their migratory routes. Understanding how these journeys are changing is becoming increasingly important for biodiversity conservation, yet traditional tracking methods can only tell part of the story. To help bridge this gap, EDPR in Poland is supporting a pioneering scientific project led by Poznan University of Life Sciences that, for the first time globally, is equipping white storks with GPS transmitters fitted with cameras. Beyond tracking location data, the devices capture images throughout the birds’ migration, allowing researchers to observe habitats, landscapes and behaviours from the storks’ perspective and gain deeper insights into the environments they depend on. The initiative reflects EDPR's commitment to integrating biodiversity considerations across the development and operation of renewable energy projects. By supporting scientific research and expanding knowledge of species and ecosystems, EDPR is helping advance nature-positive solutions that contribute to the protection and restoration of biodiversity in the regions where it operates. EDPR 1H26 Results Report ESG Performance Index 33
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4.2. Social People Unit 1H26 1H25 Δ Our team Employees # 2,572 2,896 -11% Employee turnover1 % 9.1% 8.6% +0.5 pp Women employees % 34% 33% +1 pp Women in leadership positions % 27.6% 25.4% +2 pp Training Direct training investment per employee €/p 314 609 -48% Training hours per employee h/p 9.9 8.2 +21% Employees with training % 90% 86% +4 pp Health and Safety Fatal accidents2 # — — - Accidents with serious injuries2 # — 1 -100% Total accidents with lost workdays2 # 5 8 -38% - Frequency rate3 x 1.04 1.19 -13% EDPR employees x — 0.4 -100% Contractors x 2.2 1.6 +36% - Severity rate4 x 55 51 +8% EDPR employees x 4 38 -89% Contractors x 109 58 +88% Communities Unit 1H26 1H25 Δ Social Impact Social investment €m 0.86 0.90 -5% EDPR volunteers % 12% 6% +6 pp Working hours in volunteering h 1,895 514 - Partners Unit 1H26 1H25 Δ Suppliers Purchases with ESG Due Diligence % 90% NA —% Our team Employee headcount variation YoY is mainly driven by efforts to improve operational efficiency, including simplifying the organizational structure to align with rebase growth. Nevertheless, EDPR was able to maintain a broadly stable turnover, slightly increase the percentage of women, and increase by +2 pp the proportion of women in leadership positions, reflecting the impact of recent internal promotions and succession planning. Training The decrease in training investment per employee is highly impacted by and increase share of training delivered by internal trainers, for example for safety issues, which reduced the need for external expenditure. In addition, the globalization of programmes has generated efficiencies and contributed to lower overall training costs. The percentage of employees receiving training increased +4 pp to 90%, mainly due to the launch of a new Learning Requests feature, which allows employees to request training outside the learning catalogue. In addition, a significant number of learning programmes and mandatory training courses were launched during 2Q26, contributing to higher participation and duration of learning activities. Health and Safety No serious injuries and fatal accidents (SIF) were recorded during 1H26, vs 1 serious injury accident in 1H25.The number of accidents with lost workdays decreased, and consequently so did the frequency rate (-13% YoY). However, the severity rate increased +8% YoY as a result of fewer worked hours, despite less workdays lost resulting from accidents with absence. EDPR continues to pursue a zero SIF accident ambition, supported by ongoing safety initiatives across operations and contractors practices. E DPR 1H26 Results Report ESG Performance Index 34 1 Turnover calculated as: departures/headcount; 2 Employees & contractors data, excluding commuting accidents 3 Frequency rate calculated as [# of Work-related injuries with lost workdays/Hours worked*1,000,000] 4 Severity rate calculated as [# of Lost workdays due to work-related injuries/Hours worked*1,000,000]
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Communities While social investment is broadly stable YoY, the percentage of volunteers and number of volunteering hours increased due to the “Time to Give Back” initiative, launched to celebrate EDP Group's 50th anniversary, which mobilised employees, families, friends and partners to dedicate their time to volunteering across 16 countries. Partners EDPR has reached 90% of purchases with ESG due diligence, which demonstrates EDPR’s commitment to integrating ESG into its procurement processes, reinforcing our strategic focus on responsible sourcing and long-term value creation. Note that comparison with 2025 data is not applicable due to an adjustment in calculation methodology, shifting from suppliers to purchases. @ EDPR 1H26 Results Report ESG Performance Index 35 Empowering future generations through education, innovation and community partnerships Creating a positive impact goes beyond generating renewable energy. Across the US, EDPR continues to invest in the communities where it operates, supporting initiatives that help inspire future careers, strengthen local economies and create opportunities for the next generation. From engaging students in Indiana to supporting young agricultural leaders in California, EDPR teams have been partnering with schools, universities and local organizations to bring renewable energy closer to communities. Recent initiatives included participating in career-focused events, supporting Future Farmers of America programs and welcoming engineering students to operational wind farms, providing a firsthand look at the technologies and people driving the energy transition. One example took place at the Los Banos Spring Fair in California, where the Las Camas Solar team supported local FFA and 4-H programs, helping young people develop skills, gain hands-on experience and pursue opportunities in agriculture, while strengthening the long- term resilience of rural communities. These initiatives reflect EDPR's commitment to building lasting relationships and contributing to the long-term success of the communities where it lives and works, demonstrating how renewable energy projects can create value well beyond the generation of clean electricity.
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4.3. Governance Financial instruments The financial instruments that the current members of the Board of Directors hold at the end of the first half of 2026 are as follows: EDP Renewables, S.A. Board of Directors Number of shares 30-06-2026 Number of shares 31-12-2025 António Gomes Mota - - Miguel Stilwell de Andrade - - Rui Teixeira (1) 362 359 Manuel Menéndez - - Rosa García - - José Félix Morgado - - Laurie Fitch - - Ana Paula Serra - - Gioia Ghezzi - - (1) On 3 June 2026, as part of the Scrip Dividend operation of EDP Renewables, S.A., 3 shares representing the share capital of EDPR were attributed to this member. EDPR 1H26 Results Report ESG Performance Index 36
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4.4. ESG Ratings ESG achievements recognized by top-tier institutions, aiming to maintain a strong position in ESG ratings performance Entity Rating Entity Rating EDP Group Recognitions1 73/100 Sustainability Yearbook Member (Feb-26) 13.9/100 Low Risk (Jan-26) A List on Climate (Jan-26) A- Industry Leader (Jun-26) AA Leader (Mar-26) One of the most ethical companies in the world (Mar-26) 79/100 (Nov-25) Ecovadis Committed Badge | EDP SA 1“EDP Group Recognition” column: refers to the overall assessment of the EDP Group, in which EDP Renewables (EDPR) is fully included. EDPR 1H26 Results Report ESG Performance Index 37
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EDPR 1H26 Results Report Annex Index 38 Index Annex05. 5.2. Ocean Winds 5.3. Share Performance & Shareholder Structure 39 44 45 5.1. Remuneration Frameworks Blue Harvest Solar Farm, USA
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5.1. Remuneration Frameworks EDPR 1H26 Results Report Annex Index 39 Iberia Spain • Wind energy receives pool price and a premium per MW in order to achieve a target return defined by regulation. • RDL 17/2019 has set the target return (TRF) @7.398% for WF’s prior to 2013 and @7.09% for new installations until 2031. • Premium calculation is based on standard assets (standard load factor, production and costs). • Since 2016, all the new renewable capacity is allocated through competitive auctions. • First auction of the new REER scheme celebrated in Jan-21 and Oct-21, awarding 12y CfDs. • PPAs have also become a common route to market for renewables in Spain. •Batteries have been facilitated through grants, combinable with revenue share/tollings and even Capacity market when available. Portugal • Wind farms commissioned before 2006 are subject to a FIT whose value is correlated with production and indexed with CPI. Initial tenure was the soonest of 15y (or until 2020) or 33 GWh/MW but it was increased 7y (tariff extension) with a cap and floor scheme in exchange of annual payments between 2013-20. • ENEOP: price defined in an international competitive tender and set for 15y (or the first 33 GWh/MW) + 7y tariff extension with cap a floor scheme, in exchange of annual payments between 2013-20. Tariff is CPI monthly update for following years. • VENTINVESTE: price defined in an international competitive tender and set for 20y (or the first 44 GWh/MW). • Wind farms under the new regime (COD after 2006) are subject to a FIT for the soonest of 20y from COD of 44 GWh/MW. Tariff is also indexed with CPI. • Solar PV projects awarded in the latest auction (Jul-19) are subject to a flat FIT during 15y. Projects will bear the cost of imbalances. An adjustment with CPI has been introduced, accounting for CPI growth from award to COD. • In absence of auctions, PPAs have also become common. • Batteries have been facilitated through grants, combinable with revenue share/tollings Rest of Europe France • Most existing wind farms receive FiT for 15y. 0-10y: €82/MWh; 11-15y: depends on load factor €82/MWh @2,400 hours to €28/MWh @3,600 hours; indexed. • Wind farms in the CR 2016 scheme: 15y CfD with strike price value similar to existing FiT fee plus a management premium. • Auctions (20y CfD), both for wind and solar PV.
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Rest of Europe Italy • Wind farms in operation prior to 2012 are under a feed-in-premium scheme applicable for the first 15y of operation. • Wind farms commissioned from 2013 onwards awarded in competitive auctions until 2017 have a 20y floor CfD scheme. • Wind farms awarded in 2019 onwards auctions have a 20y 2-side CfD scheme. •PPAs are also common specially for solar PV Poland • Electricity price can be established through bilateral contracts. • Wind farms before 2018 receive 1 green certificate (GC)/MWh during 15y that can be sold in the market. Electricity suppliers have a substitution fee for non-compliance with GC obligations. • Wind and PV assets awarded in auctions (since 2018) are subject to a two-side CfD with a tenure of 15y. • PPAs have also become a relevant route to market. • Batteries participate in the capacity market that can be combined with secured route to markets such as tollings or floor and/or merchant operation Romania • Wind assets (COD until 2013) receive 2 green certificate (GC)/MWh until 2017 and 1 GC/MWh after until completing 15y. 1 out of the 2 GC earned until Mar-17 can only be sold from Jan-18 to Dec-25. • Wind assets (COD 2013) receive 1.5 GC/MWh until 2017 and after 0.75 GC/MWh until completing 15y. • Solar assets receive 6 GC/MWh for 15y. 2 out of the 6 GC earned until Dec-20 can only be sold after Jan-25 to Dec-30. GC are tradable on the market under a cap and floor system (€35/€29.4). • The GCs issued after Apr-17 and the postponed to trading from Jul-13 will remain valid and may be traded until Mar-32. • New assets can participate in CfD auctions or sign PPAs. Netherlands • SDE++ scheme, one side CfD granted for 15y for existing assets. The scheme can be combined with PPAs. UK • FiT scheme, granted for 20y and with two regulated components: generation tariff (indexed to RPI) and export tariff. • New assets could opt for 15y CfD via auction or PPAs (two EDPR assets awarded). • For batteries there is a capacity market available that can be combined with merchant participation of contracted route to markets such as tollings or CfDs EDPR 1H26 Results Report Annex Index 40
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Europe Greece • 20y non-indexed CfD, allocated through tenders. Hungary • Solar PV assets could benefit from 15y CfD indexed with CPI-1% awarded through auctions under METAR scheme. • PPAs also available in the market. Germany • One-side CfD available with a tenure of 20y. • PPAs also available. North America US • Sales can be agreed under PPAs (typically up to 20y), Hedges or Merchant prices. • Renewable Energy Credits (RECs) subject to each state regulation. • Capacity payments available in some ISO/RTOs, via auctions or bilateral contracts. • Net-metering is still the most common remuneration scheme for distributed generation, but several states are transitioning to net billing or time varying rates. • Tax incentives prior to the Inflation Reduction Act (IRA) in Aug-22: • PTC (Production Tax Credit) for wind farms collected for 10y after COD (as much as $26/MWh in 2021). If construction began in 2009/10 could opt for 30% cash grant in lieu of PTC. These rates are adjusted for inflation annually. • ITC (Investment Tax Credit) for solar projects based on capex (as much as 26% in 2021). Rate based on year of COD with phase-out over time. • Tax incentives following the IRA in Aug-22: the PTC & ITC are technology-neutral and structured as a base value of $5/MWh and 6%, respectively. Labor and apprenticeship requirements increase these to $30/MWh (as of 2024, inflation-linked) and 30%. Further credit add-ons are available for domestic content and location bonuses, making an additional +$6/MWh for PTC and +10% for ITC. • One Big Beautiful Bill effect on IRA in Jul-25: • To claim the full value of the ITC or PTC, wind and solar projects must be placed in service by the end of 2027, or start construction by July 4, 2026 and enter service by the end of 2030. • Battery projects retain full tax credit eligibility for construction beginning up to the end of 2033, 75% in 2034, 50% in 2035, and 0% thereafter. • Credits can be monetized against a company’s own tax obligations, through a tax equity partnership, or towards another entity’s tax obligations directly via transferability. EDPR 1H26 Results Report Annex Index 41
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North America Canada • Ontario: Large Renewable Procurement and Resource adequacy long-term request for proposals (LT RFP). • Alberta: Sales can be agreed under long-term PPAs. Mexico • Technological-neutral auctions in which bidders offer a global package price for capacity, generation and green certificates. • EDPR project: bilateral Electricity Supply Agreement under self-supply regime for a 25y period. South America Brazil • Old installed capacity under a feed-in tariff program ("PROINFA"). • Since 2008, competitive auctions awarding 20y PPAs. • Option to negotiate long-term PPAs. Chile • 20y PPA with retailers awarded via auction (pre-2021) and 15y PPA for 2021 auction assets. EDPR 1H26 Results Report Annex Index 42
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Asia Pacific APAC • Vietnam: 20y FiT. • Vietnam: Direct Onsite PPA mechanism (Physical & Virtual) available. • Vietnam: Net metering available for rooftop solar with feed-in-rates of up to 20% (in the northern region) and 10% (rest of the country). Net metering tariff for surplus power will match the average electricity price from the previous year; confirmation awaited. • Singapore: Government agencies routinely release tenders for Solar DG and Floating PV. Remuneration is a combination of discount on tariff and exported energy with RECs. • Singapore: PPAs available with onsite PPA preferred as most generation is DG. • Singapore: Net metering available. • China: Corporate PPAs for Onsite Solar DG. Floating price based on a discount on local industrial tariff. • Taiwan: 20y FiT. • Japan: 20y Feed-in Premium + Virtual PPA • Australia: Co-located Solar+BESS asset. Tolling Agreement for 90% of the revenues from + 10% merchant. Plus, a top-up payment coming from the awarded Capacity Investment Scheme – collar scheme but acts as a fixed payment in practice Ocean Winds Offshore • Portugal: Floating PV projects awarded in 2022 auction has a 15y CfD contract with a negative strike price (the original project pays for injecting the energy in the grid in exchange of securing grid capacity that can be used by overequipment and hybrid). • UK: 15y CPI indexed. CfD allocated by tender @£57.5/MWh (2012 tariff-based). • France: 20y indexed feed-in tariff. • Belgium: 17y CfD, CPI indexed. • Poland: 25y CfD, CPI indexed. EDPR 1H26 Results Report Annex Index 43
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5.2. Ocean Winds Projects MW Gross COD % OW Technology PPA/Tariff Status Portugal WindFloat Atlantic 25 2020 65% Floating FiT Installed Belgium SeaMade 487 2021 18% Fixed CfD Installed United Kingdom Moray East 950 2022 40% Fixed CfD Installed Moray West 882 2024 95% Fixed CfD/PPA Installed Caledonia* 2,000 >2030 100% Fixed + Floating — Under development Arven* 2,300 >2030 50% Floating — Under development Celtic Sea PDA2* 1,500 >2030 100% Floating — Under development France EFGL 30 2026 80% Floating FiT Under construction Noirmoutier 500 2025-26 40% Fixed FiT Installed Le Tréport 500 2026 61% Fixed FiT Under construction EFLO 250 >2030 90% Floating CfD Under development United States SouthCoast Wind* 2,400 >2030 100% Fixed — Under development Bluepoint Wind* 2,400 >2030 50% Fixed — Under development Golden State Wind* 2,000 >2030 50% Floating — Under development Poland BC Wind 390 2029-30 100% Fixed CfD Under construction South Korea Korea Floating Wind* 1,125 >2030 67% Floating — Under development Hanbando* 1,125 >2030 100% Fixed — Under development Australia High Sea Wind* 1,280 >2030 100% Fixed — Under development Westward Wind* 1,242 >2030 100% Fixed — Under development 21,386 EDPR 1H26 Results Report Annex Index 44 *Only Seabed secured.
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5.3. Share Performance & Shareholder Structure Capital Market Indicators 1H26 2025 2024 2023 2022 2021 Opening Price 12.58€ 10.04€ 18.53€ 20.58€ 21.90€ 22.80€ Minimum Price 12.42€ 6.89€ 9.50€ 13.89€ 17.00€ 16.24€ Maximum Price 14.67€ 13.82€ 17.99€ 21.77€ 26.55€ 25.80€ Average Price 13.49€ 9.97€ 13.61€ 18.24€ 22.11€ 20.82€ Closing Price 14.17€ 12.04€ 10.04€ 18.53€ 20.58€ 21.90€ Share performance +13% +20% -46% -10% -6% -4% Dividend per share +13% +8% +20% +26% +9% +8% Total Shareholder Return +14% +21% -45% -9% -6% -4% Volume (m) 421 1,118 796 792 639 1,011 Daily Average (m) 3.3 4.4 3.1 3.1 2.5 3.9 Market Cap (€m) 15,016 12,654 10,440 18,969 19,768 21,036 Number of shares Issued 1,060 1,051 1,040 1,024 961 961 EDPR 1H26 Results Report Annex Index 45 Share Price Volume (m) Daily Volume PX_LAST Events Jan-26 Feb-26 Mar-26 May-26 Jun-26 12.00 12.50 13.00 13.50 14.00 14.50 15.00 0.0 0.8 1.6 2.4 3.2 4.0 4.8 EDPR Share Price Performance 1. From 01-Jan-2026 until 30-Jun-2026; 2. Bloomberg data including exchanges and OTC. 1 2
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1H26 Main Events # Date Description Share Price 1 07-Jan EDPR informs about PPA secured for a 150 MWac solar project in US 12.91 2 29-Jan EDPR completes Asset Rotation deal for a 150 MW wind portfolio in Greece 12.73 3 25-Feb EDPR announces Scrip Dividend program for 2026 13.50 4 23-Mar EDPR secures 250 MW solar project in US 12.75 5 13-Apr EDP Renewables Annual Shareholders’ Meeting resolutions 14.05 6 27-Apr OW has agreed to settle imminent claims regarding US offshore leases of Bluepoint Wind and Golden State Wind 14.08 7 04-May EDPR launches Scrip Dividend Programme and approves informative document 13.96 8 19-May EDPR sells operations in Brazil to parent company EDP, reinforcing focus on A-rated growth markets 13.75 9 25-May EDPR signs Build and Transfer Agreement for a 100 MWac solar project in US 14.48 10 02-Jun Registration of EDPR’s share capital increase 14.25 11 03-Jun Admission to trading of EDPR’s shares 14.54 12 30-Jun EDPR signs Asset Rotation deal for a 68 MW portfolio in Italy 14.17 EDPR 1H26 Results Report Annex Index 46 71.4% 4.4% 3.3% 20.9% EDP Group GIC Blackrock Other shareholders Shareholder Structure Data according to the latest communication sent to the Company by the relevant shareholders. For more information visit EDPR's website, here. Conference Call & Webcast Details Date: Wednesday, 29th of July, 2026, 16:30 CEST | 15:30 GMT+1 Webcast: www.edpr-investors.com Investor Relations Department Phone: +34 900 830 004 Email: ir@edpr.com Site: www.edpr-investors.com EDP Renewables, S.A. Head office: Plaza del Fresno, 2 33007 Oviedo, Spain LEI: 529900MUFAH07Q1TAX06 C . I . F . n . º A - 7 4 2 1 9 3 0 4
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EDPR 1H26 Results Report