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2 OUR VISION AND COMMITMENTS OUR PLATFORMS Miguel Stilwell d’Andrade (CEO) OUR FINANCIALS Rui Teixeira (CFO) CLOSING REMARKS Miguel Stilwell d’Andrade (CEO) What we are presenting today 2
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6 Power demand at an inflection point – an era of sustained growth driven by tech and electrification 2024 2025 2030 2035 ~6.6 ~6.7 ~7.8 ~8.9 ~60 ~130 2024 2030 ~20% ~25% Electrification share of final energy consumption Millions of EVs1 on the roads ~15 ~50 1. Includes BEV, PHEV and FCEV | 2. Net Demand – excluding losses x2 x3 +5 p.p. GW of DC capacity installed Electricity demand2 000’ TWh +2-3% CAGR Source: Wood Mackenzie, Ember, European Commission, BNEF, IEA World Energy Outlook STEPS, IEA Energy & AI
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7 Wind, Solar and BESS – the fastest, cheapest, and most scalable energy sources Higher costLower cost ~€50/MWh PPAs ~$60/MWh PPAs ~€60/MWh PPAs ~$75/MWh PPAs ~€100/MWh LCOE ~$75/MWh LCOE ~€120/MWh LCOE ~$100/MWh LCOE ~€220/MWh LCOE ~$180/MWh LCOE ~1-3 years ~1-3 years ~1-3 years ~5-10 years +15 years 2025 2030 2035 2040 Long time to market of nuclear new builds while requiring governmental risk taking/support Increased gas turbine lead times (increasing from ~1-2 to ~5-7 years) RES costs are expected to continue downward trend Source: BNEF (PPA prices 2024, EUR – incl. Spain, France and Germany), LevelTen (PPA prices 3Q 2025, US), BNEF (for EU LCOE), Lazard (for US LCOE), S&P Global, Wood Mackenzie Cost competitiveness1 Time-to-market2 1. Including tax credits in US | 2. Time-to-market estimations for new projects, with FID in 2025 Note: BESS - Battery Energy Storage Systems
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8 An evolving energy system – more flexibility needed and new value pools emerging Wind and Solar capacity TW1 25% 45%36% Share of RES2 in total generation 2025 2030 2035 ~1.1 ~1.8 ~2.4 >2x 2025 2030 2035 ~0.1 ~0.2 ~0.5 5x BESS3 capacity TW Flexibility needs4 2035 vs. 2023 increase Increasing Wind and Solar capacity leading to more penetration of variable, non-dispatchable generation Decreasing BESS3 cost (e.g., 25% decrease in US vs. 2022), creating attractive investment opportunities Uplift in value of generation assets with flexibility attributes ~2.5x ~4.0x Of total short-term flex, >50% covered by BESS3 and Hydro 1. Considers TWac for Wind onshore and offshore and TWdc for Solar PV (utility + distributed) | 2. Share of RES includes Solar and Wind generation | 3. Battery Energy Storage Systems | 4. Short term flexibility needs (i.e., largest hour-to-hour differences in residual load) Source: Wood Mackenzie, IEA STEPS, Lazard
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9 Step change in Networks investment – modernize aging network, connect demand/supply and reinforce system reliability 2020-24 2025-30 South America Europe North America ~180 ~250 +40% +55% +30% Reinforced investment committed +60% of Networks investment planned in Iberia between 2025-30 Capacity – Regional imbalance between generation and urban areas in Brazil, leading to increased transmission and distribution capacity New demand – bottlenecked ~85% of Spain’s distribution Networks needs reinforcement to connect new demand Modernization – the key driver ~55% of transformers in Portugal with over 40 years asset life by 2030 Investment in Electricity Networks Avg. $ Bn/year Note: Investment in Electricity Networks is calculated as capital spending for new connections, system reinforcements and ass et replacements, under ETS scenario and including wind offshore Source: BloombergNEF, PDIRD, REE, Aelec +40%
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10 Strong regulatory tailwinds – providing increased long-term visibility Europe Ongoing policy for resilience, competitiveness and energy security (e.g., REPowerEU): Contract for Difference (CfD) auctions of >100 GW in 2026-28, with accelerated deployment through national interest projects and streamlined permitting EU Action Plan and upwards revision of Networks investments (incl. Iberia) Capacity markets and other incentives for BESS1 and FlexGen investments (e.g., exemption of Networks fees in Germany) USA One Big Beautiful Bill Act providing clear tax credits framework PTC/ITC granted for wind and solar with CODs until 20302 based on safe harbor updated guidance ITCs granted for BESS1 with CODs until 20392 Brazil Networks investment framework in place, while bottlenecks in RES still need to be addressed 30-year extension of electricity distribution concessions New regulatory periods in distribution with improved returns Regulation expected to address curtailment impact on renewables 1. Battery Energy Storage Systems | 2. Projects that qualify under start of construction and four-year safe harbor, storage phase down as follows 100% in 2037, 75% in 2038, 50% in 2039
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11 EDP is at the center of this secular investment opportunity Electricity at the core of strong investment momentum in the sector… … and EDP is prepared to capture the opportunity Step change in Networks investment Strong Electricity Networks business, with material step up of investments, especially in Portugal Leader in Renewables with strong track record and pipeline, namely in US Entering an era of sustained growth of power demand Renewables are the cheapest, fastest and most scalable technology Resilient integrated position in Iberia , with strong FlexGen and Clients portfolioMore flexibility needs with increasing value pools Market and regulatory tailwinds
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12 Our 2026-28 commitments focused on value creation Visibility with improved returns and flexibility to accelerate Focus on value and cash-flow generation from existing portfolio High quality portfolio with sound Balance Sheet Increasing earnings, while lowering debt ~€12 Bn Gross investments ~€1 Bn Disposals, focusing on key businesses and markets ~80% EBITDA in A-rated markets and regulated + long term contracted/hedged ~€5.2 Bn EBITDA by 2028 ~€7 Bn Net investments ~26% OPEX/Gross Profit ~€1 Bn Net Debt reduction ~€1.3 Bn Net Income by 2028 12-14% | ~10.5% Renewables and Electricity Networks Equity IRR ~€1.9 Bn Flat OPEX across BP horizon >20% FFO/ND, committed to BBB rating ~€0.21 DPS floor by 2028 Business optimization Distinctive and resilient portfolio Value creation Focused growth Powered by our talented and experienced organization, leveraging Digital and AI capabilities
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13 Focused €12 Bn investment plan with US renewables and Iberian Electricity Networks at the core 1. Net investments equals gross investments subtracted of Asset Rotation proceeds Pipeline optionality to accelerate throughout the plan and beyond ~30% ~20% ~35% ~10% ~5% Gross investments 2026-28, € Bn Net investments1 2026-28, € Bn Iberia RoE US Brazil Other ~€12 Bn ~55% ~45% ~€7 Bn ~50% ~60% 2024-25 2026-28 ~25% ~45% ~90% in A-rated markets FlexGen and Clients +10 p.p. Renewables, Clients & Energy Management Electricity Networks +20 p.p. ~70% in Renewables, Clients and Energy Management ~30% in Electricity Networks ~€5 Bn of Asset Rotation mostly in Renewables US renewables % of EDPR Gross investment Electricity Networks % of Net investment
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14 Enhanced returns supported by market and regulatory tailwinds 1. Renewables: Considers projects with COD in 2023-25 vs COD in 2026-28. Project IRR and Equity IRR at FID post-tax in nominal terms assuming cost of debt and a 50/50 capital structure | 2. Regulatory RoE is nominal and post-tax and assumes regulator’s inputs for cost of debt and capital structure. Electricity Networks PT and SP – considers RoR of 7% (pre-tax and in nominal terms) based on company’s expectations for the 2026-28 period. Electricity Networks Brazil – considers the current EDP SP RoR for 2023-25 period and the latest revision of EDP ES RoR for 2026-28 Electricity Networks2 Regulatory RoE (excluding incentives) Renewables, Clients and Energy Management 1 ~€8Bn Project IRR Equity IRR Locked in returns beyond 2028 100% regulated EBITDA Upside from incentives and other regulatory parameters No CESE on new investments in Portugal Return/ risk profile 2023-25 2026-28 ~9% ~10.5% >250 bps IRR-WACC >60% contracted NPV Return/ risk profile + 150 bps ~€4Bn COD 2023-25 COD 2026-28 ~12-13% ~12-13% COD 2023-25 COD 2026-28 ~7-8% ~7-8% ~11-12% ~13-15% ~8-9% ~9-10% + 200-300 bps + 100 bps Stable Stable Gross InvestmentGross Investment
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15 Value crystallization through Asset Rotation and portfolio focus 1. Capital gains excluding minority transactions | 2. Includes EDPR and Transmission assets in Brazil Asset Rotation and Disposals proceeds 2026-28 € Bn Strong 2025 Asset Rotation execution of €2.0 Bn with attractive valuations Asset Rotation Disposals Total proceeds 2026-28 ~52 ~1 ~6 Diversified portfolio and multiple markets and technologies derisking Asset Rotation execution Gains of ~€0.2 Bn/yr ~35 transactions ~€13 Bn cumulative proceeds ~€3 Bn cumulative gains1 >8 GW installed capacity rotated Asset Rotation track record over the last 10 years
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16 Driving efficiency and agility across the business, improving competitiveness 1. Wind and Solar technical availability OPEX recurring, 2023-28 € Bn 2.0 ~1.9 ~1.9 -4% OPEX/GP RES Installed capacity GW RAB € Bn 2023 ~29% ~26% 24 ~30 7.6 9.0 ~26% 28 7.3 2025 2028 Flat nominal OPEX, despite inflation and increasing asset base Extract more value from existing assets, improving availability and O&M (+1 p.p. availability1 uplift 2025-28; -19% RES OPEX/MW vs. 2022) Focus on core geographies exiting markets / businesses with limited EDP presence and synergies, improving efficiency Drive organizational agility and scale digital/AI for smarter operations (90% Employees’ Digital Upskilling Plan Completion, 2028) Focusing on efficiencyOptimizing for superior value
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17 ESG leadership anchoring our energy transition 1. Projects subject to the Investment Committee’s approval | 2. Index measures diversity in leadership positions, assessing the balance of genders, generations, an d nationalities within the organization | 3. Scope 1 and 2 emissions intensity Emissions intensity3 gCO2/kWh Revenues from coal % Renewables generation % 8.2% ~0% ~0% 66% ~90% >90% 230 45 15 On track to phase out coal Strong track record in the energy transition 2028 key ESG commitments 100% growth CAPEX in Renewables and Electricity Networks Working everyday towards Net Zero by 2040 Climate adaptation plans for infrastructure exposed to material climate risk All new projects1 with material impact on communities include an engagement plan All new projects1 include a biodiversity risk analysis and action plan 100% purchases with ESG risks covered by ESG Due Diligence Zero serious injuries and fatalities ≥40% Leadership Diversity Index2 2025 20282019
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18 A resilient, low-risk portfolio delivering predictable growth 1. South America, APAC and other adjustments | 2. Average 2026-28 EBITDA, € Bn 27% 73% 2019 ~30% ~70% 2025 ~30% ~70% 2028 3.7 ~4.9 ~5.2 22% 16% 61% 2019 ~20% ~20% ~60% 2025 ~20% ~30% ~50% 2028 3.7 ~4.9 ~5.2 Electricity Networks Renewables, Clients and Energy Mgmt. North America Europe Others1 By region By business ~80% 2019 ~80% 2025 ~80%2 2028 3.7 ~4.9 ~5.2 By contracted profile Merchant Regulated and long-term contracted/ hedged ~30% from Electricity Networks ~80% in A-rated markets ~80% regulated + long-term contracted / hedged ~30% from US by 2028
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19 Stronger BBB balance sheet, providing flexibility for future investment 1. Financial Net Debt + Leases - Regulatory receivables / Recurring EBITDA (including AR gains and excluding one-offs) 2019 2025 2028 ~3.5x ~3.2x 3.7x BBB- BBB Adj. Net Debt/ EBITDA1 Net Debt € Bn Debt rating ~16 ~1514 -€1 Bn -0.3x Delta 2025-28 Organic Cash Flow growth Preserving a low-risk business profile – ~80% of EBITDA from A-rated markets and ~80% regulated or LT contracted / hedged activities Absolute Net Debt reduction supporting improved credit ratios over 2026-28
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20 Attractive shareholder remuneration – sustained earnings growth supporting visible dividend floor 1. Share of AR gains in recurring net profit 81% 60-70% 2019 2025 2028 0.9 ~1.2 ~1.3 60-70% 2019 2025-26 2027 2028 19 20 20.5 21 Dividend per share, € cents Target dividend payout ratio, % Recurring Net Profit, € Bn Delivering earnings growth Sustainable and predictable dividend policy DPS floor 60-70% AR gains1, % Improved earnings quality profile: lower weight of AR gains together with high weight of regulated and A-rated markets 27% ~5% ~10% Stable scrip dividend program at EDPR through 2026-28
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21 21 EBITDA 2025 30% Electricity Networks 70% Renewables, Clients and Energy Management OUR PLATFORMS
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22 Electricity Networks – Strong presence in Portugal, Spain and Brazil 1. Main Low Voltage (excluding small local operators) | 2. 33% stake | 3. Excludes Asset Rotation gain from the sale of Transmission lines | 4. Includes Transmission investments in Brazil Sole operator of High, Medium and Low Voltage1 Electricity Networks in mainland Portugal Largest Electricity Distribution operator in the regions of Asturias and Cantabria EDP ES EDP SP Celesc2 Main Distribution operator in the State of Espírito Santo and in São Paulo’s coastline, and minority stake in Celesc in Santa Catarina Portfolio of electricity transmission assets, 4 lines in operation and 3 under construction 34% 23% 32% 11% Portugal Spain Brazil Distribution Brazil Transmission 41% 27% 19% 13% Recurring EBITDA3, 2024 RAB 20244, € Bn €7.2 Bn €1.5 Bn Diversified regulated portfolio
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23 Track record of efficiency, with superior quality of service – enabled by technology, data & AI 1. System Average Interruption Duration Index | 2. Iberia | 3. Advanced distribution management system | 4. Engineering, Maintenance and Construction 30% 25% 2019 2025 SAIDI1 2019-25 at Group-level, min 2019 2025 Enhanced quality of service Enabled by technology, data & AI Improved efficiency SAIDI1 2024 per geography, min Electricity Networks OPEX/Gross Profit AI as a key driver for optimized and smart Network operations Improving customer experience and reducing call centers load through AI Networks operations robotization and digitalization Optimized vegetation management via drones and satellite images Dynamic line rating for network optimization and resilience Integrated and real time management of HV/MV/LV grids in 20262 Driven by new ADMS3, advanced metering infrastructure and 100% LV mapping Networks assets modernization resulting in lower maintenance interventions, including extension of outsourced EMC4 activities 72 21 392 -4% -5 p.p.
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24 €3.6 Bn investment plan driving RAB and earnings growth – increasing share of Iberia 1. Includes Transmission investments in Brazil | 2. Recurring EBITDA excluding Asset Rotation gains Note: All metrics depending on the outcome of ongoing discussions with Regulators and subject to regulatory approval 0.6 0.9 2025 0.6 1.0 2028 1.5 1.6 Gross Investments 2026-30 € Bn (annual) RAB1 € Bn EBITDA2 € Bn 2.3 5.0 3.2 5.8 7.3 9.0 +16% €3.6 Bn 2026-28 0.4 0.6 2023-25 0.4 0.8 2026-28 2029-30 1.0 1.2+20% Stable EBITDA following Transmission Asset Rotation EBITDA growth in line with RAB growth, being impacted by legacy revenues ending in 2026 Asset base growth mainly supported by EDP São Paulo’s new regulatory period and Transmission Significant increase in investments to support RAB growth Based on approved investment plans +11% +35% +7% +23%
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25 Increased visibility and returns – >90% of investments with regulatory frameworks closed / advanced and improved returns 1. Visibility on Annual Allowed Revenue 2. Electricity Networks PT and SP – RoR pre-tax and in nominal terms based on company’s expectations. Electricity Networks Brazil – RoR pre-tax and in real terms based on the latest revision of EDP ES 3. RoE post-tax in nominal terms excluding incentives, assuming regulator’s inputs for the cost of debt and capital structure Regulatory framework (closed or in advanced stage) To be updated 4-year EDP SP 5-year 6-year 2026 2028 20292027 2030 Gross Investments 2026-28 RoRAB2 pre-tax Regulatory period length Regulatory RoE3 (excl. incentives) EDP ES 5-year Transmission1 30-year €0.6 Bn €1.7 Bn €0.6 Bn ~12% ~16%€0.7 Bn Distribution Oct/27 RoRAB already defined until 2031 BP horizon €3.6 Bn ~10.5% EDP BP assumption ~7% ~7-8%
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26 1. Net Demand – excluding losses Source: Ember, Wood Mackenzie, E-REDES PDIRD New demand and Modernization – drivers of increased investment in Iberia for the next 10-15 years 2024 2025 2030 2035 ~285 ~295 ~330 ~370 Electricity demand1 Iberia, TWh Equipment aging, resilience improvements, and digitalization support investment needs Electricity demand growth driven by energy consumption electrification (e.g., EVs, DCs, H2) HV/MV active transformers in distribution Networks in Portugal by year of estimated end of useful life, # 9 29 105 160 153 2017-20 2021-25 2026-30 2031-35 2036-40 +2-3% CAGR 9M25 EDP Network regions Portugal +3.0% Spain +2.5% 1970-80s strong electrification wave drives a surge in renewal needs between 2025 and 2040
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27 Adequate regulatory returns required to fully support needed investment 1. Inflation adjusted to 2024 | 2. This new plan represents a ~50% increase in investment vs the plan proposed by E -Redes in 2020 for the 2021-2025 period (inflation adjusted to 2024) | 3. Focused on pre-determined investment categories, defined by the RD proposal on investments | 4. Including RoRs for distribution in Italy, Northern Ireland, Sweden and Denmark adjusted for the Spanish risk -free rate, tax rate and leverage – source: Nera All metrics depending on the outcome of ongoing discussions with Regulators and subject to regulatory approval nominal Temporary increase of investment cap by 2030 Revised proposal Spain Preliminary proposal Portugal Estimated European average4 6.58% 6.33% ~7% 0.21 2022-25 (Real) 0.28 2026-29 (ERSE proposal) 0.20 PDIRD E-2020 (21-25)2 0.30 PDIRD E-2024 (26-30) LV HV/MV +29% +50% Potential for returns to converge with those of other EU countries to enable the additional investment needed for the Energy Transition Regulated Return on RAB, % Proposal for significant increase in investments with a limited impact on end-user’s price Average annual gross investments1, € Bn Incentives on Quality of Service, losses and efficiency savings provide add-ons to the headline Regulatory return and could add up to ~ +100 bps in Portugal and ~+200 bps in Spain pre-tax In Portugal, indexation of Regulatory return to Bond yields provides hedge with added visibility on value creation of investments Up to ~€250 Mn p.a. potential investment under defined add-on3
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28 Brazil’s regulation fosters long-term value in both Distribution and Transmission Networks October 2027August 2030 7.42%8.03% June 2028July 2055 Expected to be extended from 2028 to 2058 under the same terms as EDP ES R$ Bn 0.7 0.8 2020 0.8 1.5 2025 1.4 1.8 2028 TransCos DisCos 1.4 2.3 3.2 9 15 21 Stable regulatory framework… …to support a sustainable growth of the asset base 30-yr concession extension No upfront payment in extensions Tariff review Uplift in Real RoRAB to 8.03% Next regulatory period Current RoRAB, Real (post-tax) Concession renewal EDP São PauloEDP Espírito Santo RAB, € Bn 11% CAGR 2025-28 Distribution – ~90% of the investment plan focused on modernization and consumption, operational efficiency and risk management investments Transmission - multiple growth avenues going forward, leveraging on a proven track record of on time & on cost execution +60% +38%
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29 Step change in investment plan and improving returns – visibility through 2028 and beyond Growing EBITDA throughout the BP period, on the back of growing investments and RAB Improved Networks efficiency on the back of new digital and automatized operations while reinforcing quality of service Improvement of regulatory returns and incentives both in Iberia and Brazil Increasing investment visibility from upcoming regulatory periods closed or in advanced stage Step change in investments to deliver the Energy Transition and modernize the Networks €1.5 Bn to €1.6 Bn €3.6 Bn Investment plan. +20% annual investment in 2026-28 vs 2023-25 >90% Investments with regulatory frameworks closed or in advanced stage +150 bps Regulatory RoE vs 2023-25 -5 p.p. In OPEX/Gross Profit (30% in 2019 to <25% in 2028) EBITDA growth from 2025 to 2028 29
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30 30 EBITDA 2025 30% Electricity Networks 70% Renewables, Clients and Energy Management 40% FlexGen & Clients: 30% OUR PLATFORMS
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31 Integrated position – Generation, Energy Management and Clients with proven value creation and controlled risk FlexGen & Clients 2025 Energy Management Unlocking value from flexibility and integration Hedging and Risk management >70 TWh under global management Market optimization (across power and other energy markets) Client solutions Structuring products tailored to client needs ~0.6 GW Solar DG ~0.4 Mn B2B clients ~3 Mn B2C clients (Portugal) ~16 GW contracted ~100 PPA offtakers ~20 GW Generation assets Multi-technology generation portfolio ~7 GW Hydro, out of which ~2.4 GW pumping ~3 GW CCGTs 30% EBITDA share 40% EBITDA share
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32 32 EBITDA 2025 30% Electricity Networks 40% FlexGen & Clients 30% OUR PLATFORMS
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33 Flexible Generation portfolio – positioned to capitalize on rising demand for flexibility \\ Hydro Gas Gas Hydro pumping Hydro net of pumping Hydro ex-pumping (~8 TWh/year normalized) >45% pumping >80% reservoir 17% 19% 64%5.5 2.9 Preserving strong position in the Iberian market, with ~3.4 Mn retail clients High-quality Hydro portfolio, with long-term concessions (~27 yr remaining life), and CCGT as backup to the system and providing ancillary services 1.6 GW Hydro Assets Mostly LT contracted and inflation linked 5 TWh Hydro generation/year 2026-28 Limited price & volume risk due to largely PPA contracted capacity and GSF insurance Generation mix 2026-28 avg. TWh/yr Installed capacity EBITDA 2025 GW 8.4 GW Installed capacity 12 TWh Electricity generation Hydro BrazilIberia
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34 Optimized efficiency and investment opportunities – additional value unlocked from technology and AI Cost to serve, OPEX/year/residential contract, € 2024 2028 ~8 ~8 O&M costs1, €/MW 27 2024 2028 ~24 Flat O&M costs, despite inflation -11% Unlocking value from technology and AI Hydro pumping additional targeted opportunities Double digit IRR ~€100 Mn CAPEX Interventions to optimize inflow and increase efficiency FlexGen optimization opportunities adding value to existing portfolio Efficiency capture in O&M and clients’ cost to serve Sensorization and Intelligent Monitoring of Hydro and Thermal Inspection Robots for Hydro and Thermal Technicians Co-Pilot Potential for added flexibility services (e.g., black start, voltage control, inertia) Reduce cost-to-serve and improve customer experience using autonomous AI and increasing hyper- personalization 1. Includes O&M and other related costs (e.g., external services and direct personnel costs)
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35 Iberia – increased weight of intermittent technologies in the generation mix fostering the need for FlexGen Source: Wood Mackenzie, OMIE Ancillary services & restrictions component in final electricity price in Spain €/MWh Prices dispersion over average daily hour €/MWh Increasing solar penetration % of total installed capacity 33% 18% 24% 25% 4% 24% 22% 50% 2018 2024 35% 23% 16% 26% 2030 Solar Wind Hydro Other 5 12 2020 2024 Hour in the day 20 30 40 50 60 70 80 90 100 110 120 1 3 5 7 9 11 13 15 17 19 21 23 2019 2025-Rolling Year+31 p.p. Solar installed capacity 2025: significant YoY increase, namely post blackout (9M25 €17/MWh) 2026-2028: expected to normalize, yet above 2020 values … with higher share of solar generation expanding intra-day spreads and improving hydro premiums Higher solar penetration increases complexity to match electricity demand and supply on an hourly basis…
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36 Hydro – growing premium over baseload in realized prices and higher volume and spreads in pumping 1. Pumping spreads considering pumping consumption GWh (energy used to transfer water to upper reservoir, which is converted into generation with an efficiency factor of 80-85%) 2020-22 2023-25 2026-28 1.6 1.8 2.3 +40% 2020-22 2023-25 2026-28 ~15% ~50% ~65% ~8 TWh of flexible hydro generation/year, with growing value materialized on improved premiums over baseload 2020-22 2023-25 2026-28 ~10% >15% >20% 2.4 GW pumping capacity spread across 8 sites +10 p.p. +50 p.p. Hydro realized price premium, % over baseload Hydro pumping generation TWh/year Hydro pumping spreads1 % of baseload price
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37 FlexGen and Clients Iberia – Structural increase of flexibility revenues mitigating price and volume normalization ~0.20 2023 ~0.25 2025 ~0.35 2028 ~1.0 ~1.05 ~1.1 Increase in margins from flexible services1 reflecting maintenance of structural improvement in pumping margin and backup services, normalization of ancillary services pricing, and partial offset of lower gas margins Normalization of prices and volumes in 2026-28 20% 25% 30%Flex. Services margin over normalized EBITDA ~110 ~70 ~64EDP baseload reference, €/MWh 0 +1.5 0Hydro generation vs. expected, TWh ~0.35 ~0.15 0Non-normalized price / volume impacts Margin from Flex. Services1 ~3.4 Mn retail clients providing natural hedge to the integrated position, and added value services 1. Flexibility services includes margins from Pumping, Hydro ancillary services and CCGTs, net of retail costs +1% CAGR 2025-28 +12% CAGR 2025-28 Normalized EBITDA for FlexGen and Clients in Iberia Normalized price and volume for 2026-28 levels, € Bn
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38 38 EBITDA 2025 30% Electricity Networks 40% FlexGen & Clients 30% OUR PLATFORMS
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39 High-quality portfolio of 20 GW of Wind, Solar and BESS – ~85% in US and Europe, ~70% long-term contracted ~75% ~25% ~5% ~10% ~30% ~55% Wind Onshore Solar PV2 Europe1 North America South America APAC ~20 GW ~42 TWh Installed Capacity by Region and Generation by Technology 2025 Portfolio focused on low-risk markets with wind onshore as the main asset base technology 22 states with EDPR presence 10 GW operating capacity … and a differentiated and strong position in the US market since 2007 Wind & Solar Core Technologies ~70% Long Term Contracted … backed by a uniquely diversified portfolio with strong global PPA capabilities… >20 years of track record EU & US Core Markets EDPR: Pure renewables player with a proven track record… 1. Includes Wind Offshore | 2. Includes Solar DG in North America and APAC Note: Installed Capacity considers EBITDA + Net Equity
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40 Focus on enhancing operational performance – driving efficiency and innovation, in a context of growth and inflation 1. Reference value for wind assets 2022 2025 2028 94.8% ~96% ~97% 2022 2025 2028 53.4 ~44 ~43 Improved nominal OPEX/MW-18% +2 p.p. Unlocking additional value through innovation Streamlined O&M for efficiency Core OPEX/Avg. MW Improved RES availability Technical availability, % Focus on availability based on cost-benefit analysis 45%1 full scope Offering operational protection, balanced with hybrid and self-perform models for added efficiency and flexibility Automation and robotization for improved O&M efficiency Autonomous ecosystem of robots and drones for inspection, cleaning and vegetation cutting AI-based asset performance management Predictive maintenance, fault forecasting and (Gen)AI troubleshooting to reduce downtime Potential for added flexibility services Added flexibility capabilities from RES assets (e.g., grid forming)
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41 2025 2026-27 2028 2029-30 €7.5 Bn investment plan – ~60% in US and with optionality to capture additional growth from 2028 onwards 1. Mostly equity investments including Ocean Winds and capitalized expenses Note: Capacity additions considers EBITDA + Net Equity ~2 GW On time & on budget North America Europe South America APAC Offshore ~0%~10% ~10% ~20% ~60% Gross investments Asset Rotation Net investments ~€7.5 Bn ~€4.5 Bn ~€3.0 Bn North America Europe Offshore & Other1 APAC South America ~1.5 GW per year ~1 GW under construction ~2 GW secured for 2026-27 Ongoing commercial activity for 2027-28 CODs >1.5 GW ~5 GW Additions 2026-28 Flexible pipeline allowing to adjust growth pace and capture additional opportunities Capacity Additions profile GW Investments 2026-28 € Bn
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42 Balanced technology mix – focused on low-risk and long term contracted, capturing market dynamics 1. Includes Solar DG in North America and APAC | 2. Battery Energy Storage System. Includes standalone BESS (~4% of total capacity additions) Note: Capacity additions considers EBITDA + Net Equity Capacity Additions Mix 2026-28, % North America Europe South America APAC Premium in high-solar penetration markets, with hybridization and repowering Wind Onshore Mainly in Italy, Spain & France Repowering in US Route to Market CfDs | Pay-as-Produced PPAs Focused on long term (~20 yr) contracted profile in US, Canada, and Australia limiting merchant exposure Regulated/LT contracting profile improving in Europe Solar + BESS2 co-located US & Canada mainly co- located with Solar, LT contracted for ~20 yr In Europe, standalone or co-located with Wind and Solar Route to Market Capacity Tolling Agreements Solar PV1 Easier permitting vs wind with faster time to market Mainly in Poland & Germany; some projects hybridized with wind Utility scale Solar in Japan & DG in Singapore Mainly in MISO, CAISO, and PJM ~30 yr PPA recently signed for 120 MWac in Michigan ~5% ~15% ~30% ~50% 2026-28 Wind Offshore Wind Onshore Solar + BESS2 Solar PV ~5 GW Route to Market CfDs | Pay-as-Produced PPAs Co-located in Australia with long-term highly- contracted profile
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43 ~70% long term contracted revenues portfolio – resilient average selling price throughout 2028 Expected generation split by contracting profile (status as of today, %) ~10% ~20% ~70% 2025 ~15% ~15% ~70% 2026 ~25% ~5% ~70% 2028 Avg. Selling Price 2026-28 Portfolio trends by region Avg. selling price 2026-28 ~€52-55/MWh Merchant Hedged Long Term Contracted ~55% ~35% ~10% Others New PPA contracts at higher prices along with better wholesale market prices >$50 Lower contracted/hedged prices vs 2025>€70 Inflation linked long term revenues with limited exposure to merchant >€30 APAC Strong PPAs under negotiation for new capacity in low-risk markets ~€90 Merchant / available to be contracted Hedged Avg. 2-3 years maturities Long Term Contracted Avg. 11 years remaining contract life
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44 Well placed to address Data Centers demand growth – US market showing stronger dynamics in the short-term There is strong Data Center-driven demand and we are well placed to capture it… … and we have optionality value from powered land 0.8 0.5 Advanced ~1.2 ~1.0 ~0.3 Under analysis ~1.3 ~2.5 Advanced permitting stage, mostly in ERCOT and PJM Mostly Germany and Poland US Iberia Others Powered land opportunities by region, GW Strong relationship and track record with US utilities and Big Techs ~6 GW PPAs contracted with US power utilities New assets – opportunities to contract PPAs for longer terms or through Build and Transfer agreements ~3.3 GW total PPAs with big tech players globally Rights secured - mostly old thermal sites Existing assets – opportunities to re-contract PPAs 2x Data Center capacity by 2030 (EU, US) – driving a surge in electricity demand Source: IEA Energy & AI
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45 North America – high-quality portfolio to capture value from surging demand and rising power prices Diversified portfolio with attractive exposure to regions with strong demand/pricing dynamics FRW 2028 Price2 ($/MWh)xx Installed Capacity EDPR (GW) EDPR 2025E Installed Capacity & forward prices by power market1, GW 6 5 3 MISO PJM WECC5 US pipeline4 and demand growth per ISO 3 ISOs representing >60% of current US pipeline4 Demand CAGR (2025-30) Generation 2025 1. Map excludes 0.3 GW of solar DG | 2. Varying from low (lighter tone) to high (darker tone); Source: ICE (Intercontinental Exchange) North American & European Power Futures | 3. Includes Solar DG | 4. Mid/Advanced stage pipeline, including visibility on Land, Grid connection, Licensing and Permitting; Does not include Prospects | 5. Incl udes Northwest and Southwest regions Source: Wood Mackenzie Power & Renewables – Annual Net Sales by Region Note: Installed Capacity considers EBITDA + Net Equity 0.5 0.2 ~ 10 ISO-NE NYISO PJM Southeast ERCOT SPP MISO SouthwestCAISO Northwest 1.2 0.6 0.5 1.8 1.3 1.4 0.1 2.3 0.5 Wind Onshore Solar PV3 1 8 CAISO Others xx Strong RES demand driven by RPS requirements >9 years average age of fleet +4%+3%+3% >20 GW pipeline4 24% 76%
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46 2026-28 2029-30 2031-35 +10 Flat +10 +20 North America – favorable PPA pricing context supports project economics and provides attractive re-contracting opportunity No material impact ~12 TWh by 2035 ~4 TWh Expected recontracting PPA prices vs expected merchant prices Expected recontracting PPA prices vs maturing PPA prices Generation from maturing PPAs available to recontract Source: LevelTen by 2030 30 40 50 60 70 80 20 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 75 67 60Q3 Blended Q4 2018 2019 2020 2021 2022 2023 2024 2025 Offtakers seeking longer term PPAs to lock-in price stability Market environment improves outlook for Wind Repowering for 2029-30 extending asset life with tax credits and lower CAPEX Upside from re-contracting of maturing PPAs mostly coming early 2030s from wind projects with premium repricing Re-contracting PPAs for ~10 years above merchant prices Project recently re- contracted post 2029 for +10 years at +$11 /MWh (vs. previous PPA) PPA price evolution – Market Data $/MWh Repricing profile of existing fleet 2026-35, upside potential $/MWh
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47 North America – visibility on growth with flexibility to accelerate from 2028 onwards 2025 Avg. 2026-27 2028 2029-30 Capacity Additions by technology, GW ~1.0 GW On-time and on budget US-based supply chain setup since 2022-23 • Mitigated import risks • FirstSolar contract for 1.8 GWp for 2026-28 Tax Credits secured for Wind and Solar with CODs until 2030 and for BESS1 with CODs until 2039 >20 GW pipeline3 in US providing flexibility to accelerate growth from 2028 1. Battery Energy Storage Systems, includes standalone BESS | 2. Includes Solar DG | 3. Mid/Advanced stage pipeline, including visibility on Land, Grid connection, Licensing and Permitting; Does not include Prospects Note: Capacity Additions considers EBITDA + Net Equity ~0.9 GW >0.9 GW Flexible pipeline allowing to adjust growth pace and capture additional opportunities >5 GW with tax credits safe-harbored for projects with COD until 2030 Wind Solar + BESS1 Solar PV2
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48 Europe – focus on low risk markets underpinned by demand growth potential ~6 GW 2025 Installed Capacity ~2.2 GW ~1.4 GW ~2.2 GW 3 2 2 2 2 2 1 Germany Portugal Spain Poland France Italy UK Wind Onshore Solar Utility Scale Demand supported by electrification (industry, transport, heating and cooling) and digitization Focusing on key European markets with strong fundamentals Generation 2025 13% 87% Other EDPR marketsEDPR core growth markets >13 GW of pipeline1 in core European growth markets 1. Mid/Advanced stage pipeline, including visibility on Land, Grid connection, Licensing and Permitting; Does not include Pro spects Source: Wood Mackenzie – Net demand (excluding losses) Note: Installed capacity considers EBITDA + Net Equity, excluding Wind Offshore +3% +3%+2%+3% +2% +1% Demand CAGR (2025-30) xx +3% EDPR 2025E Installed Capacity GW Europe pipeline1 and demand growth
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49 2025 Avg. 2026-27 2028 2029-30 Europe – tailored approach to drive value given different dynamics across markets >250 MW Hybridized & collocated – essential for portfolio optimization, leveraging on existing infrastructure and avoiding queues Focused growth with ~100% of investments in core growth markets ~40 GW 2027 mechanism ~0.5 GW On-time and on budget Long term contracted route-to-market secured via CfDs and Pay-as-Produced PPAs Capacity additions by technology GW ~0.5 GW ~0.5 GW Flexible pipeline allowing to adjust growth pace and capture additional opportunities Wind Solar + BESS1 Solar PV2 1. Battery Energy Storage Systems , includes standalone BESS | 2. Includes Solar DG Note: Capacity Additions considers EBITDA + Net Equity, excluding Wind Offshore
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50 2025 Avg. 2026-27 2028 ~0.1 ~0.1 ~0.3 Australia Singapore Japan Rest of APAC Strong pipeline of large Solar & BESS1 co-located projects in Australia with CODs post 2027 1. Battery Energy Storage Systems | 2. Net capacity considers Ocean Winds’ stake in Noirmoutier has decreased to 40% following recently announced sell down Note: Capacity Additions considers EBITDA + Net Equity ~3 GW OW gross capacity in operation by 2026 becoming one of the largest operators in Europe with a strong portfolio Long term pipeline optionality post-2030 – limited additional capital needs in the short term Strategic partnership model allows for a disciplined net exposure and funding APAC and Offshore – focused on low-risk markets with long-term growth optionality, with a disciplined risk management OCEAN WINDS Focused on execution of its existing European projects EDPR Net Capacity2, GW APAC Focus on low-risk high-growth markets 2026-28 Capacity Additions by market, % 0.1 0.6 0.3 0.2 Installed Under Construction
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51 EDPR is well positioned to capture rising demand and drive sustainable and profitable growth, coupled with a robust B/S ~€7.5 Bn gross investments, of which ~60% in the US Focus on efficiency driving ~€43 k OPEX/MW in 2028 13-15% Equity IRR in US, 12-13% in EU AR plan of ~€4.5 Bn and ~€1 Bn of Disposals Recurring EBITDA1, € Bn ~60% 2025 ~68% 2028 ~1.9 ~2.2 +15% SA APAC 2025 2028 ~0.3 ~0.6 2025 2028 ~8.0 ~6.5 x2 -1.5 Bn Recurring Net Profit, € Bn Net Debt, € Bn Stable scrip dividend program at EDPR with target payout ~30-50% through 2026-28 1. % of underlying EBITDA ex-AR gains
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54 EDP: Material step up of earnings and improvement of Balance Sheet and rating 1. Financial Net Debt + Leases - Regulatory receivables / Recurring EBITDA (including AR gains and excluding one-offs) Net Income € Bn 3.7 4.5 ~4.9 ~5.2 0.9 0.9 ~1.2 ~1.3 3.7 3.4 ~3.5 ~3.2 Dividend per share BBB- 0.19 2019 BBB 0.19 2022 BBB 0.20 2025 BBB 0.21 2028 2019-28 ~4% ~4% -0.5xAdj. ND/EBITDA1 EBITDA € Bn CAGR CAGR Delta
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55 EBITDA Growth – RES and Networks more than offsetting normalization of volumes and prices in Iberia ~1.9 ~1.5 ~1.4 2025 ~2.2 ~1.6 ~1.3 2028 ~4.9 ~5.2 Wind, Solar & BESS Networks FlexGen EBITDA evolution by platform € Bn Normalization of hydro volumes and wholesale prices in Iberia, with increasing weight of FlexGen revenues Renewables evolution reflecting the strong US growth Higher RoR in Iberia drive higher allowed revenues in Electricity Networks CAGR ~+2%
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56 ~70% ~21% ~9% 2024-25 ~62% ~30% ~8% 2026-28 4.8 4.0 Yearly average gross investments, € Bn Wind, Solar & BESS1 Electricity networks Flex Gen, Clients & Other2 ~60% ~50% 1. Battery Energy Storage Systems | 2. Others include Solar DG, holding and structure costs | 3. Figures calculated considering the upper bound years: 2025 and 2028 Investment plan focused on core markets – higher weight of US and Electricity Networks in Iberia 14 2025 2028 <10 By platform Increasing share of Electricity Networks Increasing share of US in Renewables ~95% of Group CAPEX directed toward a focused set of countries, of which ~90% are A-rated By country3 Countries totaling 95% of CAPEX for period
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57 Strong Asset Rotation track record and execution – at the core of our strategy 0.2 0.7 0.8 0.2 2.0 2026-28 ~51 … with ~€5 Bn1 of value crystallization in 2026-28 Strong execution of 2025 Asset Rotation program… € Bn 49%100% 90%100%Stakes 0.9 1.5 1.5EV/MW € Mn AR gains 2025 ~€0.1 Bn reflecting CAPEX inflation in some assets and sale of minority stakes Rotating ~50% of capacity added in 2026-28, Targeting avg. AR gains/investment >15% ~0.2AR Gains yearly average € Bn AR Proceeds € Bn 2026 transactions in preparation / launched Build and Transfers in advanced negotiation, representing ~20% of Target Proceeds 1.5 24 22Number of transactions 10 Including one sizable ~€0.7 Bn transaction for 49% common equity in 1.6 GW portfolio, with cash proceeds in 4Q25 1. Includes EDPR, Solar DG, and Transmission assets in Brazil
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58 Disciplined funding plan – Disposals of ~€1 Bn to focus the portfolio alongside ~€1.5 Bn of Tax Equity proceeds 1. Battery Energy Storage Systems | 2. ITC tax credit revenues accounted in P&L over a 5 -year period, with PTC tax revenues accounted in P&L over a 10-year period Focus on core markets and technologies Mostly RES markets with limited EDP presence (≤0.1 GW) and synergies ~€1.5 Bn~€1 Bn Funding ~40% of gross investments in the US, with good visibility on tax incentives and projects safe-harbored Gross Tax Equity Proceeds Disposals ~1 GW of non-core markets/businesses Growing share of solar and BESS1 vs. wind driving more ITC-based transactions, impacting the earnings profile 2
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59 2026-28 Cash Flow (€ Bn) €1 Bn Net Debt reduction – cash needs more than offset by strong organic cash-flow and disciplined funding plan 1. Asset Rotation Gains excluded from AR proceeds and included in Organic Cash Flow Gross Investments ~2.5 Dividends ~9 Organic Cash Flow1 ~6.5 Asset Rotation1, Disposals, and Tax Equity Proceeds ~1.0 Net Debt Change ~12 ~€15 Bn 2028 Net Debt
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60 16 15 2025 2028 ~19% ~22% 1. FFO/ND formula consistent with rating agencies methodologies, considering EDP definition of EBITDA Recurring -€1 Bn +3 p.p. Robust Balance Sheet –investment discipline and strong Cash Flow generation reinforcing commitment to a strong BBB rating Net Debt € Bn FFO/Net Debt 1 % Balance Sheet robustness enables optionality to scale growth Strong cash flow generation enabling Net Debt reduction of ~€1 Bn after executing a €12 Bn gross investment plan Enhanced Balance Sheet headroom enabled by debt reduction – strengthened FFO/ND to 22%
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61 Improved outlook in Portugal – sovereign credit and financial sustainability of electricity system have been reinforced 2020 2025E 2026 2028 3.5 1.6 1.1 A-Rated economy, on the back of a favorable macro environment Credit Rating1 Public debt/GDP2 Corporate tax rate4 End-user electricity prices6 among the most affordable in EU (-25% vs. EU avg.) 10Y Bond Yield3 Spread vs. Germany Sustained downward trend for electricity system debt planned to continue (€ Bn)7 1. Standard & Poor’s long-term debt notation | 2. Portuguese Public Finance Council – Economic and Budgetary outlook 2025-2029 | 3. Source: Bloomberg. As of year-end 2022 and October 29th, 2025 | 4. Parliamentary approval in September 2025. Total Statutory Corporate Tax Rate to be applied to EDP | 5. Measure included in the 2026 State Budget Proposal, pending Parliamentary approval. Investments executed in 2024 and 2025 are also exempt from CESE payment, although being subject to the assessment of Agência Portuguesa do Ambiente and alignment with European taxonomy | 6. Source: Eurostat. B2B. €/MWh. As of 1H25 | 7. Includes Tariff deviation No extraordinary tax on new Energy Transition related investments from January 1st, 2026, onwards5 229 177 171 2019 2020 2021 2022 2023 2024 1H25 27.5% in 2028 2022 BBB A+ 111% 91% 31.5% 2025 3.6% 3.0% +100 bps +36 bps
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62 Cost of debt increasing until 2028 due to 2026-28 maturities at extremely low rates Average cost of debt Average cost of debt EUR & USD and others Weight of BRL on financial costs +60 bps+10 bps EDP average cost of bonds issued in 2025: • ~60% senior @3.4% • ~40% hybrid @4.5% 2025 2028 ~5.0% ~5.1% 2025 2028 ~3.8%~3.5% ~4.1% Average cost of debt BRL 32% 27% 14% 11% Reflecting market expectations -3 p.p.-5 p.p. Year € Bn Coupon 2026 2.7 1.7% 2027 2.1 1.8% 2028 2.5 4.1% EUR and USD debt maturities1 1. Senior Bonds and Hybrids. Includes hybrid issues at reset date of €750 Mn in 2026, €750 Mn in 2027, €1 Bn in 2028, €500 Mn in 2029, €750 Mn in 2030, €1 Bn in 2031 and €750 Mn in 2032
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63 9M25 Prudent funding policy – focus on centralized corporate debt, fixed rate and local currency 18% 82% Floating Fixed 9% 7% 84% EDP Brasil EDPR EDP SA, EDP Finance BV & Other 6% 13% 15% 66% Others Brazil US EU EDP Consolidated gross debt position €Bn Debt by interest rate type €Bn Debt mix by currency % >80% fixed rate with floating mostly related with BRL Prioritizing funding in local currency Funding needs primarily raised at Holding level (>80%) On lent to subsidiaries Efficient management Ring-fenced policy “Non-recourse” to EDP Mainly project finance related
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64 >90% green financing – maintaining green funding strategy, aligned with the EU Taxonomy ~69 ~12 ~2 ~3 ~14 Sources of debt funding as of September 2025 Percent 84% Capital Markets Tap most efficient markets (currently DCM) 81% Sustainable Debt Green Funding aligned with Sustainability strategy DCM Green Sustainable Loans and Others DCM Conventional Loans and Others Commercial Paper 2025 2028 Renewables Generation weight >90% >90% CAPEX aligned EU Taxonomy >93% >98% Strong positioning for green financing as a competitive hedge Green Financing weight 81% >90% Climate change disclosure Net Zero target by 2040
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65 Active management of liquidity position – a mix of robust credit facilities and cash 2025 2026 2027 2028 2029 2030 2031 2032 > 2032 1.2 3.3 2.6 3.6 3.1 2.7 2.4 1.7 0.7 EDP consolidated debt maturity profile as of September 2025 € Bn Cash holdings balanced to optimize carry cost Financial liquidity as of September 2025 Cash and Equivalents €1.9 Bn Total Liquidity €9.4 Bn Available Credit Lines €7.5 Bn EDP Brasil EDP SA & EDP Finance BV and Other1 1. Considers Hybrid issues at reset date. Includes €750 Mn in 2026, €750 Mn in 2027, €1 Bn in 2028, €500 Mn in 2029, €750 Mn in 2030, €1 Bn in 2031 and €750 Mn in 2032
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66 EDP 2025-28 key figures 66 EBITDA (€ Bn) +6% Net Income (€ Bn) +8% FFO/ND (%) +3 p.p. DPS floor (€/share) +5% Net Debt (€ Bn) -€1 Bn 2025-28 4.9-5.0 1.2-1.3 ~20% 0.20 ~16 2026 5.2 1.3 ~22% 0.21 ~15 2028 4.9 1.2 ~19% 0.20 ~16 2025
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68 Our 2026-28 commitments focused on value creation Focused growth • ~€12 Bn investment plan with enhanced returns - focus on US renewables and Iberian Electricity Networks • ~€5 Bn Asset Rotation delivering value crystallization and recycling capital to fund growth Business optimization • ~€1 Bn Disposals to refocus in attractive core markets and businesses • Improving efficiency metrics through operational excellence (~26% OPEX/Gross Profit) Distinctive and resilient portfolio • ~80% EBITDA in A-rated markets and highly contracted profile (~80% regulated + LT contracted/ hedged) • Committed to BBB rating with improved ratios (22% FFO/ND), providing increased optionality Value creation • Increasing EBITDA to ~€5.2 Bn by 2028 (+6% vs 2025) while decreasing Net Debt by €1 Bn • Increasing Net Income to ~€1.3 Bn by 2028 (+8% vs. 2025) supporting new DPS floor of €0.21 in 2028 (+5%)
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69 Markers of visibility until 2028 Electricity Networks regulatory framework defined for the BP period (and beyond) >5 GW of safe harbored US renewables pipeline ~2 GW secured for 2026-27 and advanced pipeline to deliver targets Secured supply chain, with long-term visibility Optionality and further value creation beyond 2028 Electricity Networks • Investment needed to continue modernizing aging asset base • Supportive regulatory framework with visibility beyond 2028 FlexGen & Clients • Strong position to capture FlexGen opportunity in Iberia EDPR • Structural demand growth in US and Europe (2-3% CAGR) • Repricing in US beyond 2030 (12 TWh) • Solid pipeline with strong optionality in core markets (>35 GW) including hybridization, repowering and BESS Strong visibility on delivery of 2026-28 commitments – Optionality beyond 2028
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70 70 2022 2025 2028 2030+ 0.9 1.2 1.3 Electricity Distribution and Transmission RAB € Bn EBITDA € Bn Renewables Installed Capacity GW EBITDA + Equity Net Income € Bn 4.5 4.9 5.2 Well positioned to capture demand growth Exposed to opportunity rich markets Strong optionality in the portfolio 7.0 7.3 ~9 22 28 ~30
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71 71 2022 2025 2028 2030+ 0.9 1.2 1.3 Electricity Distribution and Transmission RAB € Bn EBITDA € Bn Renewables Installed Capacity GW EBITDA + Equity Net Income € Bn 4.5 4.9 5.2 Well positioned to capture demand growth Exposed to opportunity rich markets Strong optionality in the portfolio 7.0 7.3 ~9 22 28 ~30