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EDP Integrated Annual Report 2025 Manifest 2 Manifest Energy is everywhere, powering the shift from what was to what must be. At EDP, we harness this universal force to deliver cleaner, more competitive energy built for tomorrow. Global electricity demand is accelerating driven by AI, industrial electrification, and electric mobility and we are ready to meet this demand. Our strategy places renewables and smarter electricity networks at its core, delivering f l e x i b l e , h i g h - q u a l i t y s o l u t i o n s t h a t m e e t t h e r i s i n g p u l s e o f d e m a n d . W e a d d r e s s t h e e l e c t r i f i c a t i o n a n d e n e r g y - t r a n s i t i o n m e g a - t r e n d b y b u i l d i n g t h e b a c k b o n e o f a r e n e w a b l e s y s t e m : s t a t e - o f - t h e - a r t t e c h n o l o g y , r e s i l i e n t a n d t r a c e a b l e s u p p l y c h a i n s , s t r o n g e n g i n e e r i n g c a p a b i l i t i e s , a n d b e s t - i n - c l a s s t a l e n t . Performance is essential, so we push innovation forward, boosting efficiency, safety and availability across our assets and electricity networks. Every choice we make, every investment, every team effort strengthens our ability to deliver clean, reliable, and affordable energy to our customers and communities. As climate risks intensify, we reinforce critical infrastructure and embed adaptation and resilience into our operations, while protecting biodiversity and engaging with the communities that support our growth. Sustainability is not a layer, it is the standard that guides how we design, build, and operate. That is also why we remain firmly committed to achieving Net Zero by 2040. We transform energy into possibility, shaping a world that is renewable, inclusive, and resilient. Our spiral remains a symbol of convergence, of people, technology, and purpose, coming together to drive tomorrow. This document is an unofficial and unaudited version of the EDP Group's official accountability document, submitted at the CMVM website on March 5th, 2026. Notwithstanding, it corresponds to a faithful copy of the aforementioned financial and non-financial information. In case of discrepancy, the official financial and non-financial information submitted to CMVM on March 5th, 2026 prevails.
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EDP Integrated Annual Report 2025 Index 3 4Management Statement* 42Sustainability Statement * 196Corporate Governance & Remuneration 297Financial Statements 520Annexes 625Glossary * The Management Statement and the Sustainability Statement comprise the Management Report.
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Management Statement EDP Integrated Annual Report 2025 Management Statement Index 4 Networks | Brazil
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EDP Integrated Annual Report 2025 Management Statement | Index Index 5 6Message from the CEO 10The Company1. 19Corporate Governance2. 23Strategic Approach3. 35Performance4.
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EDP Integrated Annual Report 2025 Message from the CEO Index 6 In 2025, we delivered strong operational and financial results, strengthened the fundamentals of our business, and updated our strategic agenda at our Capital Markets Day on November 6th in London – all in a global context marked by accelerating transformation and profound uncertainty. So, to my fellow colleagues at EDP: I would like to begin this message introducing EDP’s Annual Report by expressing my sincere gratitude to all of you – your commitment drives our progress and inspires me every day. Navigating global complexity: Energy as a strategic asset We are operating in a period of heightened geopolitical fragmentation, rising protectionism and growing systemic complexity, where energy has once again become a strategic asset rather than a neutral commodity. In this environment, the energy transition is not only a climate imperative, but a foundation of security and affordability. Clean and resilient energy systems help reduce exposure to volatile fossil fuel markets, strengthen strategic autonomy and enhance competitiveness. At the same time, global electricity demand is accelerating rapidly as AI, data centres, electric mobility and industrial electrification reshape power markets at unprecedented speed. This creates a significant opportunity for renewables, paired with storage, as the most competitive and scalable source of new generation, while underscoring the need for a parallel acceleration of investment in electric grids to ensure that new supply, new demand and system resilience can be fully realized. Against this backdrop, major regions are taking different strategic paths. The United States is shifting its focus Grounded in our strategic roadmap of sustained growth in renewables, energy storage and electric grids, we remain focused on a clear mission: to lead the energy transition through clean, affordable and reliable solutions for our customers and the communities we serve. " Message from the CEO Dear Shareholders and Stakeholders Miguel Stilwell d'Andrade CEO of EDP and EDP Renewables The Iberian blackout in April 2025, as well as the extreme weather events experienced in early 2026 starting with storm Kristin, were particularly challenging moments for Portugal – EDP’s home country – impacting essential infrastructure and affecting many communities across the territory. In both events, the country’s energy system was restored with the utmost urgency, responsibility and safety. I am immensely proud of how our teams responded: with professionalism, resilience and absolute dedication, working under very adverse conditions to support customers and protect communities.
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toward AI leadership, driving surging electricity demand and reinforcing its LNG export strategy. Nevertheless, in 2025, solar and wind accounted for approximately 70% of all new electricity generated in the U.S. (EMBER). Europe remains committed to climate goals and electrification as pillars of energy security – in 2025, wind and solar overtook fossil fuels in European power generation. Yet Europe faces growing competitiveness pressures from U.S. tech leadership and Chinese c l e a n - t e c h e x p a n s i o n , w h i l e r e d u c i n g L N G d e p e n d e n c e a n d lowering energy costs have become critical for industrial resilience. Performance and outlook across our core markets Iberia (54% of EBITDA in 2025) Portugal and Spain stood out within the European landscape in 2025, delivering economic growth above the EU average and benefiting from a supportive macroeconomic and fiscal environment. In Portugal, the outlook for the sector has strengthened meaningfully, with the corporate tax rate set to decline from 31.5% in 2024 to 27.5% by 2028, the elimination of the clawback tax, and the absence of extraordinary energy levies (CESE) on new investments related to the promotion of sustainable development since 2024. Public finances have improved s i g n i f i c a n t l y , w i t h P o r t u g a l ’ s p u b l i c d e b t - t o - G D P r a t i o n o w b e l o w 90%, compared with more than 130% just five years ago. Both Iberian markets are benefitting from robust electricity demand ( u p 3 . 6 % i n P o r t u g a l a n d 2 . 7 % i n S p a i n y e a r - o n - y e a r ) a n d s t r o n g new connection requests, driven by continued electrification of the e c o n o m y , t h e e x p e c t e d u p l i f t f r o m d a t a - c e n t e r d e v e l o p m e n t , a n d improving electricity price affordability (currently ~24% below EU average in wholesale, and 12-24% in retail, depending on the segments) – which has strengthened the region’s competitiveness. We ended the year with clear visibility on regulatory frameworks for electricity distribution: in Portugal for 2026–2029 and in Spain for 2 0 2 6 – 2 0 3 1 . T h i s c l a r i t y c r e a t e s t h e f o u n d a t i o n s f o r E - R E D E S t o invest €3.0 billion in Portugal’s electricity distribution network over 2026–2030, representing an increase of roughly 70% compared w i t h t h e p r e v i o u s f i v e - y e a r p e r i o d . The Iberian blackout earlier in 2025 was a stark reminder of the critical importance of the power sector to society and the broader economy. It underscored EDP’s rapid reaction capability but also the need for more resilient, smarter and flexible networks, supported by market solutions for firm and flexible capacity, i m p r o v e d s y s t e m d e s i g n a n d s t r e n g t h e n e d l o n g - t e r m p l a n n i n g . In early 2026, Kristin and subsequent storms brought severe disruption to Portugal, affecting up to 1 million customers at peak. Thanks to the extraordinary effort of our teams and close coordination with Government, authorities and local communities, t w o - t h i r d s o f t h e s e r v i c e w a s r e s t o r e d w i t h i n h o u r s . T h e management of excess water flows, supported largely by EDP’s hydro plants, was carried out effectively to protect populations and safeguard assets. These events reinforced the importance of adequate regulatory incentives for network investment and highlighted the growing relevance of the flexibility services provided by our hydro (including pumping) and gas plants in Portugal and Spain. In the client solutions business, the number of EDP electricity customers in Portugal’s liberalised market reached 3,428k as of December 2025. This reflects stabilization in the final quarter of the year, supported by EDP’s competitive commercial offers, the growing adoption of differentiated services, and our ongoing commitment to delivering consistently high levels of customer service supported by strong customer satisfaction levels. North America (22% of EBITDA in 2025) In the U.S., we continue to focus on Renewables, with investment conditions becoming more positive and stable over the course of the year. The inauguration of the new Administration in January 2025 triggered a comprehensive review of energy and international trade policies, including the introduction of new import tariffs in April, which were subsequently adjusted throughout the year. The “One Big Beautiful Bill Act” enacted on July 4th and the subsequent clarification of safe harbour rules by the U.S. Treasury, materially reduced regulatory risk for new renewable investments through the end of the decade. Since then, EDP has contracted over 1 GW of new solar and battery capacity, supported by strong underlying demand fundamentals, particularly given the rapid expansion of data centers across the U.S. We see a clear and urgent need for large volumes of competitive, rapidly deployable electricity generation, and renewables paired with storage remains the most pragmatic and scalable solution to meet this challenge. Therefore, the U.S. is expected to represent approximately 60% of EDP Renewables’ investment plan for 2026–2028, with the share of North America in EBITDA projected to increase from approx. 60% in 2025 to 68% in 2028 (as a percentage of underlying EBITDA excluding Asset Rotation gains). South America (17% of EBITDA in 2025) Electricity distribution in Brazil was marked by the signing of the EDP Espírito Santo concession extension for an additional 30 years and continued progress on extending the EDP São Paulo concession, which is expected to be concluded in early 2026. In transmission, we expanded our footprint with the acquisition of two new lots and more than 1,200 kilometres of lines. While the visibility on regulation increased in both distribution and transmission, we also showed good improvement in service quality and efficiency. Looking ahead to 2026 – a presidential election year – Brazil will remain a relevant market for EDP, and we will be celebrating 30 years in the country. The country offers a solid regulatory framework that ensures long term stability though it does currently present certain challenges including a complex macroeconomic environment characterized by high interest rates and low inflation, and significant energy curtailment, especially in the northeast EDP Integrated Annual Report 2025 Message from the CEO Index 7
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region. In addition, the country is entering a new cycle of energy market liberalization, opening the door to new business models, greater customer choice and expanded opportunities for integrated clean energy solutions. Europe excluding Iberia (6% of EBITDA in 2025) Across Europe, we continue to prioritize A-rated markets underpinned by robust and sustained demand growth. In 2025, we installed 0.6 GW of new capacity, with notable progress in Italy, where we added 175 MW, and in Germany, where we commissioned our first two solar parks totalling 105 MW, alongside EDPR’s first standalone energy storage project in Europe – a 50 MW asset in the UK. Our under construction pipeline across Europe (excluding Iberia) remains strong, with 0.6 GW currently underway, mainly in Poland and France. During the year, we executed 100% stake asset rotation transactions totalling around 0.5 GW across France, Belgium, Italy and Greece, reinforcing our disciplined capital allocation model and supporting long term value creation. We also completed our exit from Belgium, fully aligned with our strategy of sharpening our focus on core markets. APAC (1% of EBITDA in 2025) APAC is central to the global energy transition, supported by powerful demographic trends, strong economic growth and accelerating electrification. The region is expected to account for more than three quarters of global renewables and energy storage deployment through 2030 and around half of global energy consumption. Our growth strategy in the region focuses on four A rated markets – Japan, Singapore, Australia and Taiwan – where fundamentals, policy stability and returns are strongest, but we also have a relevant presence in Vietnam. This positioning gives EDP exposure to roughly 60% of the APAC region’s expected capacity addition momentum to 2030 (excluding China and India). Our disciplined refocus has strengthened our risk return profile and positions EDP to deliver resilient returns through the end of the decade, while preserving long term optionality to capture the next wave of growth across Southeast Asia. Delivering Strong 2025 Results and Strengthening Fundamentals In 2025, EDP delivered a strong set of results, outperforming initial targets as well as the latest guidance provided to be market in November, supported by a standout performance in Flexible Generation and Clients during the fourth quarter. Recurring EBITDA stood at €5.0 billion, a slight +1% increase year over year (YoY) with strong growth at EDP Renewables and Iberian networks partially offset by a YoY decline of electricity prices in Iberia and the devaluation of the Brazilian Real vs. the Euro. Recurring Net Profit stood at €1.3 billion, -8% YoY and above budget, impacted by higher interest rates in Brazil and including a lower contribution from assets rotation gains vs. previous years, reflecting the strength and diversification of our portfolio. We continued embedding efficiency across our business, delivering another year of recurring OPEX reduction (-2% OPEX Recurring YoY in nominal terms) and improved efficiency ratios (26% OPEX/Gross Profit in 2025) despite inflationary pressures, driven by a leaner organization, optimized O&M, and elevated customer experience. Net Debt closed the year at €15.4 billion, lower than the previous guidance of €16 billion on the back of solid operational cash flow generation, driving an FFO/Net Debt ratio of 21% – an improvement of 0.6 p.p. versus 2024. Our disciplined financial management was further validated by the maintenance of our credit ratings by all three major agencies. In line with our long term commitment to value creation, EDP’s Executive Board of Directors will propose to the shareholders meeting an annual dividend based on 2025 results of €0.205 per share, representing approx. 65% payout ratio on recurring net profit. Looking ahead, our dividend policy through 2028 remains firmly anchored in a 60–70% target payout range and a dividend per share floor growing to €0.21 by 2028, reinforcing the confidence and financial discipline that underpin our strategy. EDP delivered a Total Shareholder Return of 35%, outperforming the EuroStoxx 600 by 14 p.p., although trailing the EuroStoxx Utilities Index by 6 p.p., with the sector delivering a strong +41% – the second best TSR in Europe after banks. This performance reflects a year of renewed market confidence in the company’s strategic direction and financial discipline, particularly in the second half, when visibility improved across key markets. While the exceptional rally in regulated networks within the European Utilities sector drove sector-wide TSR to high levels, EDP’s solid rebound underscores the resilience of our business model, the quality of our diversified portfolio and the growing contribution of growth platforms such as FlexGen & Clients and U.S. renewables. The company enters 2026 with strengthened fundamentals and clear momentum, being well positioned to continue creating sustainable value for shareholders in a rapidly evolving energy landscape. Empowering our people and organization and strengthening our purpose 2025 was a year of consolidation for EDP’s operating model, implemented in the previous year. In an increasingly complex global environment, we continued to adapt and evolve toward a more streamlined, digital and connected organization, while maintaining a strong focus on business impact and performance. Artificial Intelligence has become one of the key drivers of how we operate and create value. We have a clear roadmap that reinforces EDP Integrated Annual Report 2025 Message from the CEO Index 8
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data governance and enables impactful transformation. Adoption is progressing well: more than 7,800 active users, with 62% of the workforce using GenAI corporate tools consistently. From streamlining audit report creation to optimizing O&M execution, enhancing network operations, and strengthening energy management systems, AI is acting as a catalyst for smarter and more agile ways of working. This evolution is elevating asset and team productivity and reinforcing EDP’s competitiveness in the sector. The results of our Annual Organizational Climate Survey clearly reflect progress, showing an upward trend across most dimensions. Pride remains strong, with 83% of EDP’s people globally saying they are proud to work at the company. Empowerment increased to 76%, driven by greater autonomy in decision making, while Engagement remained consistently high at 78%. Once again, we were recognized as a Top Employer and by the Ethisphere Institute as one of the World’s Most Ethical Companies. Together, these achievements reinforce our ambition to remain a global employer of choice, supported by a robust talent attraction and retention strategy. Above all, they reflect the strength of our culture, fully aligned with our mission to lead the energy transition. Safety remained our top priority in 2025 — as it always will. Through our internal program PlayItSafe, we strengthened disciplined risk management in the field, particularly in electrical hazards and work at height, delivering measurable improvements: accidents with absence fell 29%, Serious Injuries and Fatalities (SIF) accidents decreased 56%, and the Total Severity Index fell 46%, supported by stronger frontline engagement. However, that was not enough. We tragically lost three colleagues from our service providers in fatal accidents during the year. This is not acceptable and reinforces our responsibility to do more and to strengthen how we oversee our partners across all operations. Our goal is clear and unwavering: Zero Serious Injuries and Fatalities. Events such as the Iberian blackout and the extreme weather episodes experienced around the world underscore the importance of intensifying our efforts on Business Continuity. Effective resilience relies on clear leadership decisions, prepared people, and strong coordination, with technology as a key enabler. We are translating lessons learned into enhanced preparedness across critical facilities, strengthening crisis management, resilience, and our ability to protect people, serve customers and recover quickly. Sustainability remains at the core of our vision. In 2025, nearly 90% of our generation came from renewable sources, and we remain firmly committed to achieving Net Zero by 2040. The environmental organization CDP once again awarded EDP the top score of A, recognizing our leadership in addressing climate change. Reflections on 2025 and Outlook for the years ahead Looking back at 2025, and my 25-year tenure at EDP, I am filled with a deep sense of accomplishment and gratitude. Few moments in a career are as meaningful as being able to look across an entire organization and witness the collective strength of thousands of dedicated individuals – as was evident in many moments throughout this past year. And I am profoundly excited about what lies ahead. In 2026, EDP commemorates its 50th anniversary – five decades of innovation, resilience and transformation in which we have evolved from a national utility into a global clean energy leader. This milestone is also a reminder of what more we can do: if we have achieved so much over the last five decades, imagine how much more we can accomplish in the decades to come! As for our strategy for 2026–2028, our outlook has strengthened meaningfully since presenting our Business Plan in London at our Capital Markets Day on 6 November. We benefit from a constructive macroeconomic and regulatory environment in Portugal, the positive evolution of our FlexGen portfolio, and increasing recognition of the need for stronger flexibility markets across Europe. We have full confidence in delivering our Business Plan targets, and from 2028 onwards, visibility is strong. We are building meaningful optionality for accelerated capacity additions in the U.S. and Europe as we progress multiple projects with highly attractive return prospects, always prioritizing returns over volume. In networks, investment will rise under current and future regulatory periods. I want to thank my colleagues on the Executive Board for their leadership and resilience, and the Chair and members of the General and Supervisory Board for their continuous oversight and support. To everyone at EDP, and to our shareholders, clients, suppliers, partners, regulators and communities: thank you for your trust, collaboration and shared commitment. The energy transition is a collective effort, and we will continue to lead it with purpose, ambition and integrity. Miguel Stilwell d’Andrade EDP Integrated Annual Report 2025 Message from the CEO Index 9
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EDP Integrated Annual Report 2025 The Company | Index Index 10 Index The Company 1.1. Purpose 01. MANAGEMENT STATEMENT 1.2. Our business 1.3. Organisational model and reporting segments 1.4. Global presence 1.5. Key metrics 1.6. Business portfolio main developments Meadow Lake wind farm | Indiana, USA 11 12 13 14 15 18
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1.1. Purpose EDP Integrated Annual Report 2025 The Company | Purpose Index 11 Speaks of our stamina, our track record and what drives us to continuously deliver clean energy Highlights our people and their key role in delivering our commitment to our clients, partners and communities Reflects our ambition and leadership in making change happen The reason why we work everyday Bright Stalk wind farm | Illinois, USA
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EDP Integrated Annual Report 2025 The Company | Our business Index 12 Hydro power plantsUtility-scale solar plants Onshore wind farms Offshore wind Thermal power plants Electricity distribution (high, medium and low voltage) Supply of electricity & gas to consumers (commercial, industrial, residential) EV charging infrastructure Solar DGEnergy efficiency & other services Procurement and sale of energy, generation & supply economic dispatch and scheduling Battery Energy Storage Systems (BESS) Development & construction of renewables assets Operation & management of electricity generation assets Electricity networks Energy management Energy supply Energy solutions (infrastructure & services) Generation is the first activity in the value chain of the electricity sector. Power plants transform the various energy sources into electricity. Transmission carries the generated e n e r g y t h r o u g h v e r y h i g h - v o l t a g e l i n e s , while distribution channels that energy to the distribution grid. The distribution network allows the flow of energy to the supply points, supported by smart meters for accurate monitoring. Energy supply contracts with end users, managing clients' energy needs and optimizing the dispatch of generation assets and energy procurement contracts. Includes other related services (Solar DG, EV charging, energy efficiency, etc.). Electricity generation Electricity networks Energy management & supply 1.2. Our business Electricity transmission (very high voltage) Smart meters
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EDP Integrated Annual Report 2025 The Company | Organisational model and reporting segments Index 13 Electricity Networks 1.3. Organisational model and reporting segments EDP is a global energy leader with presence in Europe, North America, South America and Asia Pacific. The Company operates across four business platforms, and its organisational model is aimed at strengthening global coordination and operational efficiency. The structure helps ensuring compliance with local legal and regulatory frameworks while fostering synergies across geographies and business areas. This approach supports a more unified and consistent delivery of value across regions. Simultaneously, the Group presents its financial and operational reporting segments based on internal management information. Iberia South America North America Europe (without Iberia) Asia Pacific Renewable Generation Assets Global Energy Management Client Solutions Business Enablement Functions Global Business Services RegionsBusiness PlatformsBEFGBS Reporting segments Renewables, Clients & Energy Management Electricity Networks EDP Renewables Networks Iberia Networks Brazil FlexGen & Clients Regions act as a single face to the market, driving business development, project execution, and the delivery of megawatts and P&L results. Business platforms ensure an integrated position with cross-functional capabilities in regions, managing transversal business operations and securing P&L delivery. Business Enablement Functions (BEF) provide global functional leadership and management, aligning goals & initiatives while promoting functional excellence. Global Business Services (GBS) deliver tailored services through automation and data analytics, supporting growth and transformation. Subsegments North America, Europe, South America, APAC Distribution Portugal Distribution Spain Distribution Transmission Iberia Brazil
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EDP Integrated Annual Report 2025 The Company | Global presence Index 14 1.4. Global presence North America - Houston Asia Pacific - Singapore Europe - Lisbon, Madrid South America - São Paulo Throughout our history, we worked to make EDP a leading multinational in the energy transition to renewables, featuring a global and distinctive portfolio with a total installed capacity of 32.7 GW. EDP continually leverages this portfolio to drive increased deployment of renewable technologies, while expanding its grid infrastructure - a key enabler of the energy transition. 11,865 70 employees nationalities Capacity installed (%) Capacity installed (MW EBITDA+Equity) Capacity under construction (MW EBITDA+Equity) Networks length ('000 km) Clients ('000 #) Employees (#) 1,152 305 10,309 969 3,681 4,028 2,952 101 12,563 4,798 7,639 291 4% of total installed capacity 52% of total installed capacity 11% of total installed capacity 33% of total installed capacity Top Employer in 13 markets 928 60 34 627
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EDP Integrated Annual Report 2025 The Company | Key metrics Index 15 1.5.1. Operational data 1.5. Key metrics Customers connected Electricity networks 12,034 k Electricity Generation 64.2 TWh 391 thousand km 32.7 GW 8,826 thousand +1% vs 2024 +2% vs 2024 -1% vs 2024 Electricity Distributed Distribution and transmission operating network Total installed capacity Electricity and gas clients 91.6 TWh In 2025, EDP reached 12 million Customers connected across Portugal, Spain and Brazil. Quality of service track record supporting the growth of the customer base. EDP’s electricity generation increased mainly due to new capacity additions in wind and solar, and due to an increase in thermal generation driven primarily by CCGTs, following increased demand for backup services. 11,758 11,880 12,034 56.4 TWh 57.5 TWh 64.2 TWh 202520242023 202520242023 +1.3% vs 2024 +12% vs 2024 +2% vs 2024 EBITDA + Net Equity
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EDP Integrated Annual Report 2025 The Company | Key metrics Index 16 1.5.2. Financial data 1.5. Key metrics EBITDA €5,028 m (recurring) 2025 breakdown: 39% EDPR, 31% Electricity Networks, and 30% Flex Gen & Clients. Reported Net Profit of €1,150 million in 2025 including €130 million of non recurring items. Net Profit €1,279 m (recurring) €5,023 €4,954 €5,028 202520242023 €1,290 €1,393 €1,279 202520242023 Net debt FFO/Net debt €15.4 Bn €0.2 Bn reduction in 2025 supported by organic cash flow growth and €1.8 Bn asset rotation and disposals proceeds. 20.9% 2025 Funds from Operations growth supported by EBITDA growth and working capital improvement. 2025 dividend proposed by the Executive Board of Directors to the General Shareholders Meeting: 67% payout on 2025 recurring net profit. Dividend per share1 €0.205 €15.3 2023 €15.6 2024 €15.4 2025 21.3% 2023 21.5% 2024 20.9% 2025 €0.205€0.200 2023 2024 2025 €0.195 Gross investment €3.9 Bn 2025 breakdown: 62% EDPR, 28% Electricity Networks, and 10% Flex Gen & Clients. €6.1 €5.4 €3.9 202520242023 1. Based on the corresponding year's results.
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EDP Integrated Annual Report 2025 The Company | Key metrics Index 17 12.6 11.2 10.1 202520242023 87% 95% ~90% 202520242023 1.5.3. ESG 1.5. Key metrics Total CO2e emissions (scope 1, 2 & 3) 10.1 MtCO2eq Renewable installed capacity 87% 78% 70% 86% -56% vs 2024 Stable vs 2024 +4 p.p. vs 2024 -1 p.p. vs 2024 Serious injuries & fatalities Employee engagement Suppliers compliant with ESG Due Diligence Total recovered waste 12 Renewable generation ~90% 83% 86% 87% 202520242023 In 2025, gross capacity additions totalled 2 . 1 G W , 1 0 0 % r e n e w a b l e s a n d B E S S . -10% YoY, with Scope 3 emissions -28% due to lower MW additions and less emissions per MW added. Gas powered generation (10% in 2025) increased +149% in 2025 following high demand for Flex Gen services in Iberia. of which 3 fatalities in 2025 vs 6 in 2024
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North America Europe South America APAC 531 MW in Arizona, California, Colorado, Georgia, Illinois, Indiana, Maine, Minnesota, New Jersey, New York, Pennsylvania and Texas 367 MW 124 MW 140 MW 183 MW 17 MW 294 MW in Arizona and California 121 MW 251 MW in Indiana and Oklahoma 50 MW 49% stake transaction of 392 MW in California to a major energy global player 49% stake transaction of 1.6 GW portfolio to a fund managed by the Ares Infrastructure Opportunities strategy 479 MW in Italy to Encavis and in Spain to Prosolia Energy and to Tion Renewables GmbH 271 MW in Greece with Principia and in France & Belgium to Amundi Transition Energétique 2 lots to Actis 2 plants to Engie Brasil Energia 20% stake to Diamante Geração de Energia Ltda. 454 MW in California with Ava Community Energy 60 MW with Axpo Polska 545 MWac in Wisconsin with WEC, in Indiana with a large global tech and in Michigan with a large Electric Utility 322 MW with Energa Obrót Publication of updated regulatory framework: EDP Espírito Santo: • ANEEL approves regulatory parameters for 2025-2030 • Extension of the electricity distribution concession • Portugal: 2026-2029 • Spain: 2026-2031 EDP Integrated Annual Report 2025 The Company | Business portfolio main developments Index 18 Assets rotations & disposals Capacity secured 1.6. Business portfolio main developments +1.2 GW 0.9 GW Gross capacity additions +2.1 GW Electricity Networks Solar BESS Wind onshore Wind offshore Transmission Hydro Thermal 100% wind, solar and BESS through long-term contracts, for commissioning in 2026-2029 Regulatory updates
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Corporate Governance | IndexEDP Integrated Annual Report 2025 Index 19 2.1. Governance model 20 2.2. Shareholder structure 20 2.3. Corporate bodies 21 Index Corporate Governance02. MANAGEMENT STATEMENT Timber Road solar park | Ohio, USA
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EDP Integrated Annual Report 2025 Corporate Governance | Governance model & Shareholder structure Index 20 2.1. Governance model 2.2. Shareholder structure EDP has a dual model governance structure, as the separation of management and supervision roles is embodied in an Executive Board of Directors, responsible for the management of the Company’s business, and in a General and Supervisory Board, the highest supervisory body. The share capital of EDP, S.A. is 4,184,021,624 euros and is fully paid up, as provided for in article 4 of the Company Statutes, being represented by 4,184,021,624 shares with a nominal value of 1 euro each. 22.2% China Three Gorges 8.4% Blackrock, Inc. 6.8% Oppidum 1.2% EDP (Treasury stock) 61.4% Remaining Shareholders • Of EDP’s share capital, 83% is held by institutional investors, 9% by private investors, and 8% by trading or other shareholders. • CTG, Blackrock and Oppidum are qualified shareholders according to Portuguese listed companies Regulatory framework (>5%), with the first two increasing their position during 2025. In 2024, Norges Bank Investment Management and Canada Pension Plan Investment Board were also qualified shareholders. • EDP increased its treasury stock from 0.5% of its share capital in 2024 to 1.2% in 2025 after a €100m share buyback program totally executed at an average price/share of €3.09. Corporate Entities Other Corporate Structures Remuneration Committee Corporate Governance and Sustainability Committee United States of America Affairs Monitoring Committee Financial Matters Committee Company Secretary Remuneration Committee of the General Meeting Board of the General Meeting Statutory Auditor General and Supervisory Board Executive Board of Directors Number of members 16 52 3 675 4 x General Meeting
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2.3 Corporate Bodies EDP Integrated Annual Report 2025 Corporate Governance | Corporate bodies Index 21 2.3.1. EDP Executive Board of Directors
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2.3 Corporate Bodies EDP Integrated Annual Report 2025 Corporate Governance | Corporate bodies Index 22 First appointment in 2012 | First appointment in 2024 First appointment in 2024 First appointment in 2024 First appointment in 2024 First appointment in 2012 First appointment in 2024 First appointment in 2018 First appointment in 2021 First appointment in 2024 First appointment in 2022 First appointment in 2021 First appointment in 2024 First appointment in 2021 First appointment in 2024 First appointment in 2024 2.3.2. General and Supervisory Board
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EDP Integrated Annual Report 2025 Strategic Approach | Index Index 23 3.1. Business environment 24 3.2. Strategy 28 3.3. Risk management 31 Index Strategic Approach03. MANAGEMENT STATEMENT Networks | Portugal
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3.1. Business environment 3.1.1. Macro context The global macro environment in 2025 was defined by sustained geopolitical fragmentation, shifting political mandates and a structural reprioritization of security, competitiveness and resilience. While global growth continued at a moderate pace, financial conditions remained tight, resulting in more selective capital allocation. These forces reshaped the operating landscape for international businesses, reinforcing the need for agility, geographic diversification and disciplined monitoring of geopolitical and regulatory developments. Prolonged conflicts and structural geopolitical risk Ongoing regional conflicts continued to weigh on global stability in 2025, influencing policy agendas across major economies. The wars in Ukraine and the Middle East sustained elevated uncertainty, disrupted trade corridors and logistics chains, and contributed to volatility in energy and commodity markets. These dynamics accelerated government focus on strategic autonomy, critical-infrastructure protection and secure access to key resources, further strengthening the interconnection between geopolitics, energy security and industrial policy. United States: policy recalibration and strategic realignment In the United States, the new Republican administration recalibrated federal priorities toward national security, industrial competitiveness and energy sovereignty, prompting adjustments in international engagement and climate positioning. While the federal policy environment became more complex for global partners, state-level initiatives, some regulatory frameworks and corporate decarbonization commitments continued to support investment in clean energy, electrification and grid modernization. European Union: political fragmentation and strategic autonomy amid external pressure Within the European Union, the newly elected Parliament and Commission operated in a more politically fragmented environment, requiring broader coalition-building on foreign policy, industrial strategy and fiscal coordination. This context shaped the EU’s external engagement and intensified focus on defence, infrastructure resilience and energy affordability. At the same time, the EU maintained its structural commitment to decarbonization and energy transition objectives, reinforcing investment in renewables, grids and system flexibility as central pillars of long-term economic & strategic autonomy. EDP Integrated Annual Report 2025 Strategic Approach | Business environment Index 24 Data centres Electric vehicles Electrification 2025 2035 ~6.7 ~8.1 >20% in the next 10 years Power demand is at an inflection point – an era of sustained growth driven by tech and electrification 3.1.2. Sector overview x3 in the next 10 years x11 in the next 10 years +5 p.p. in the next 10 years World electricity demand, TWh World electricity demand, TWh Share of world's energy consumption, TWh Electricity demand 000',TWh Source: IEA World Energy Outlook 2025 (scenario STEPS), IEA Energy & AI, IEA Electricity 2026
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EDP Integrated Annual Report 2025 Strategic Approach | Business environment Index 25 Renewables are the fastest, cheapest, and most scalable energy sources, and their growth is expected to continue to accelerate significantly Step change in Networks investment – modernize aging network, connect demand/supply and reinforce system reliability Costs competitiveness1 Time-to-market2 Lower cost Higher cost Solar ~1-3 ~€50/MWh PPAs ~$60/MWh PPAs years Wind ~1-3 ~€60/MWh PPAs ~$75/MWh PPAs years BESS ~1-3 ~€100/MWh LCOE ~$75/MWh LCOE years Thermal ~5-10 ~€120/MWh LCOE ~$100/MWh LCOE years Nuclear 15 ~€220/MWh LCOE ~$180/MWh LCOE years consecutive record year in RES additions 24th of RES in global power generation in 2025 34% 1. LCOE – ($/MWh) Including tax credits in US. 2. Time-to-market estimations for new projects, with FID in 2025. Source: BNEF (for EU LCOE), Lazard (for US LCOE), S&P Global, Wood Mackenzie, IEA World Energy Outlook 2025 (scenario STEPS), IEA Renewables 2025, IEA Electricity 2026. World Investment in Electricity Networks1 Average $ Bn/year World's renewable capacity by 2035 x2.8 328 362 586 2015-19 2020-24 2025-35 Modernization – the key driver New demand — bottlenecked ~55% of transformers in Portugal with >40 years asset life by 2030 ~85% of Spain’s distribution Networks needs reinforcement to connect new demand Capacity – regional imbalance Reinforced investment committed between generation and urban areas in Brazil, leading to increased transmission and distribution capacity +60% of Networks investment planned in Iberia between 2025-30 1. Includes grids and storage. Source: IEA World Energy Outlook 2025 (scenario STEPS), PDIRD, REE, Aelec. +60%
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3.1.3. Regulatory overview Strong regulatory tailwinds for Renewables, providing increased long-term visibility EDP Integrated Annual Report 2025 Strategic Approach | Business environment Index 26 USA EUROPE Other Markets One Big Beautiful Bill Act providing clear tax credits framework: Ongoing policy for resilience, competitiveness and energy security (e.g., REPowerEU): In Brazil, regulation is expected to address curtailment impact on renewables. PTC, ITC granted for wind and solar with CODs until 20301 based on safe harbour updated guidance. Contract for Difference auctions of > 100 GW in 2026-28, with accelerated deployment through national interest projects and streamlined permitting. Vietnam plans to expand DPPA rules, but regulatory uncertainty remains due to retroactive tariffs on 173 projects despite orders to reinstate FiTs. ITCs granted for BESS with CODs until 20391. Capacity markets and other incentives for BESS and FlexGen investments (e.g., exemption of Networks fees in Germany). Equipment Sourcing Rule limits eligibility for tax credits to projects with 40% of equipment from non-Foreign Entities of Concern (FEOC) sources (increasing 5%/year until 60%). Permiting: Federal permitting for wind and solar projects has faced significant policy disruption in 2025 following a series of actions, executive orders and memos/ directions from concerned departments (Interior, Energy, Transportation etc). 1. Projects that qualify under start of construction and four-year safe harbour, storage phase down as follows 100% in 2037, 75% in 2038, 50% in 2039.
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EDP Integrated Annual Report 2025 Strategic Approach | Business environment Index 27 Clear visibility on Electricity Networks improved regulatory frameworks across EDP’s main regional hubs Regulatory period length Return on Regulated Asset Base (RoRAB)2 p r e - t a x Main highlights 2026 2027 2028 2029 2030 E-REDES 4-year 6.70% Annual RoRAB indexed to 10Y Portuguese bond yields4 E-REDES Spain 6-year 6.58% Incentives on Quality of Service, losses and efficiency provide significant add-ons to the headline RoRAB EDP Espírito Santo New concession extension contract model, 30-year extensions with no upfront financial burden 5-year ~12% EDP São Paulo 5-year Transmission1 30-year 11%3 Stable regulatory framework EDP BP horizon until 2031 Aug/2030 Oct/2027 1. Visibility on Annual Allowed Revenue | 2. Electricity Networks PT and SP – RoR pre-tax and in nominal terms based on final terms approved by regulators. Electricity Networks Brazil – RoR pre-tax and in real terms based on the latest revision of EDP ES | 3. WACC applying to EDP Goiás | 4. Average Portuguese 10-year bond yields from October year t-1 to September year t. Regulatory period closed Next regulatory period
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3.2. Strategy EDP’s 2026–28 Business Plan, p r e s e n t e d i n N o v e m b e r 2 0 2 5 , w a s d e s i g n e d t o c a p t u r e r i s i n g e l e c t r i c i t y d e m a n d d r i v e n b y e l e c t r i f i c a t i o n a n d d a t a - c e n t r e d e p l o y m e n t , with renewables and electricity networks at its core. Our 2026-28 Commitments Focused growth ~€12 Bn Gross investments ~€7 Bn Net investments 12-14%| ~10.5% Renewables & E. Networks Equity IRR EDP will drive focused growth with clear visibility, stronger returns and the flexibility to accelerate investment, with a clear emphasis on US renewables and Iberian electricity networks. This strategy is further supported by a ~€5 Bn asset rotation program designed to crystallize value from mature assets and redeploy capital into higher-growth opportunities. Business optimization ~€1 Bn Disposals, focusing on key business and markets ~€26% OPEX/Gross profit ~1.9 Bn Flat OPEX across BP horizon Business optimization remains central to strengthening value creation, with a clear focus on cash-flow generation from the existing portfolio.Targeted disposals will help refocus the business on the most attractive markets, while ongoing efficiency initiatives sustain robust operating performance and reinforce the company’s competitiveness. Distinctive and resilient portfolio ~80% EBITDA in A-rated markets & regulated + LT contracted/hedged ~€ 1 Bn Net Debt reduction >20% FFO/ND, committed to BBB rating EDP maintains a distinctive and resilient portfolio underpinned by a strong balance sheet and a substantial share of EBITDA generated in A-rated, regulated and long-term contracted markets. This profile enhances stability, supports disciplined investment and reinforces the company’s commitment to a solid BBB rating with improved financial ratios. Value creation ~€5.2 Bn EBITDA by 2028 ~€1.3 Bn Net Profit by 2028 ~0.21% DPS floor by 2028 EDP’s strategic execution translates into growing earnings and a stronger financial position, with higher EBITDA and net income supported by disciplined capital allocation and reduced net debt. This performance underpins a sustainable shareholder-remuneration policy, including the introduction of a higher dividend floor by 2028. EDP Integrated Annual Report 2025 Strategic Approach | Strategy Index 28
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EDP Integrated Annual Report 2025 Strategic Approach | Strategy Index 29 2026-28 Investment Plan Asset Rotation at the core of our strategy Between 2026 and 2028, we plan o invest ~€12Bn to reinforce electrification and strengthen energy resilience Continue to recycle capital to create superior value with target ~€5 Bn Asset Rotation proceeds in 2026-28 Gross Investments US Renewables % of EDPR Gross Investment Electricity Networks Renewables, Clients & Energy Management ~90% in A-rated markets ~5 GW of renewables additions in 2026-28 with pipeline optionality to accelerate throughout the plan and beyond Electricity Networks % of Net investment Asset Rotation and Disposals proceeds 2026-28, €Bn ~30% ~70% ~5 ~1 ~6 Net investment of ~€7 Bn in 2026-28, rotating ~50% of capacity added in 2026-28 Target AR Gains of ~€0.2 Bn/yr Strong 2025 Asset Rotation execution of €1.8 Bn1 with attractive valuations Targeting avg. AR gains/investment >15% Build and Transfers representing ~20% of target proceeds Disposals of non-core markets/ business to focus the portfolio on core markets and technologies Asset rotation Disposals Total proceeds 2026-28 2024-25 2026-28 2024-25 2026-28 +10 p.p. +20 p.p. €12 Bn ~50% ~60% ~25% ~45% 1.Including cash-in of Greece deal received in January 2026.
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Key financial figures EDP Integrated Annual Report 2025 Strategic Approach | Strategy Index 30 2024 actuals 2025 actuals 2028 target Recurring EBITDA (€Bn) 4.95 5.03 ~5.2 Recurring Net Profit (€Bn) 1.39 1.28 ~1.3 Net Debt (€Bn) 15.6 15.4 ~15 FFO/Net Debt (%) 21.5% 20.9% ~22% Dividend per share1 (€/ share) 0.195 0.200 0.210 1. Based on the dividend paid that year, referent to the results of the previous year.
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3.3. Risk management 3.3.1. Risk governance model EDP adopts a widely recognized risk governance model based on the three lines of defences: • 1st Line: Business - Daily business conduct, including proactive risk management, in line with the established risk policies. Includes operative committees. • 2nd Line: Risk - Risk identification, analysis, strategy and monitoring to support the business. Includes risk committees. • 3rd Line: Audit - Audits to improving risk management, control and corporate governance processes. Risk topics are also overseen by the Executive Board of Directors and by the General and Supervisory Board (through the Financial Matters Committee). In certain situations, these three lines can be supplemented by a fourth line through external audit and regulatory supervision. Each line of defence has defined entities and forums at Corporate, Platform, and Regional levels to ensure coordination, avoid overlaps, and promote collaboration. A description of those involved in EDP’s risk governance model and their responsibilities is available in the Corporate Governance Report section and in EDP’s website: EDP Risk Governance Model. EDP Integrated Annual Report 2025 Strategic Approach | Risk management Index 31 EDP’s risk appetite statement was updated in line with the new 2026-28 Business Plan. The updated involved the inclusion of a new statement regarding "Security, confidentiality, integrity and availability of systems" and the revision of some KRIs. A detailed description of the risk appetite is available on EDP’s website: EDP Risk Appetite. 3.3.2. Risk appetite Balanced Business Solid Financials ESG Excellence Operational Excellence Controlled risk renewable energy company, with a strong long-term contracting profile and geographical diversification Credible business plan with sound financials, aiming for a solid balance sheet and sustainable growth Build a future-proof organization adherent to key ESG principles Prudent operational risk management, following best-practices and assuring business continuity Geographical concentration Credit rating Environment Development/ construction of physical assets Business segments Dividends Social Availability and integrity of physical assets and energy losses Growth delivery Financial liquidity Governance Security, confidentiality, integrity and availability of systems Regulated / Long-term contracted weight Financial Markets Short-term energy market positioning Credit & Counterparty Regulatory monitoring Investment Plan Execution Employees social liabilities
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3.3.3. Risk outlook EDP seeks to have a comprehensive view over the key risks it is exposed to, establishing processes to ensure their monitoring and proactive management. 2025 was marked by a high geopolitical and regulatory uncertainty, while the volatility in energy prices and other energy commodities remained a reality. The financial markets also continued with high uncertainty regarding inflation, interest rates and exchange rate. Risk management reaffirmed its importance, playing an essential role in this disruptive context. The Group’s risk taxonomy aggregates the various risks and is structured around five large families: Strategic & ESG, Energy Business, Financial, Counterparty and Operational. The following table details the risks expected to have the greatest potential impact on the Group's Net Income in the short-term, in an adverse scenario. Please note that there are other relevant risks such as exchange rates, which represent relevant risks to the Group’s EBITDA or Equity. EDP Integrated Annual Report 2025 Strategic Approach | Risk management Index 32 Top 5 risks Mitigation measures Energy Business Renewable generation volumes • Diversification across geographies and technologies. • Long net market position with continuous monitoring to avoid o v e r - h e d g i n g . • Assessment of hedging instruments for hydro and wind generation volume risk. EDP is highly exposed to variability in hydro, wind, and solar generation, and adverse resource conditions can negatively impact its financial performance. Financial Asset Rotation gains • Diversified asset rotation across regions and currencies. • FX risk hedged through Net Investment and transactional instruments. • Financing structures aligned with asset profiles to mitigate IR risk. P o t e n t i a l r e d u c t i o n i n a s s e t - r o t a t i o n g a i n s d u e t o l o w e r asset values driven by weaker market appetite, higher rates, lower energy prices, or adverse FX. Counterparty CounterpartyCounterparty Counterparty • Diversified counterparties with strict limits on concentration and s u b - I G e x p o s u r e . • Strong credit assessment and continuous monitoring across all counterparties. • Use of guarantees, clearing, and credit insurance. • R i s k - b a s e d p r e m i u m s a p p l i e d w h e n E D P s e t s t h e p r i c e . Risk of default on contractual obligations by customers, counterparties, or suppliers, including exposure to financial institutions and derivative positions. Energy Business Energy prices • High protection from market volatility through PPAs and forward contracts. • Strong integration of generation and retail across key markets. • Prudent management of residual exposure by GEM, including hedging o f c o a l , g a s , C O ₂ a n d U S D r i s k . Exposure to commodity price changes from residual market exposure not covered by PPAs, driven by supply–demand dynamics or regulatory shifts, which may impact results. Operational Assets in Operation • Geographical and technology diversification. • Preventive/predictive maintenance and strong O&M controls to ensure asset integrity. • Enhanced resilience to climate, cyber and operational disruptions. • Adequate insurance coverage aligned with asset risks. • Stronger supply chain, compliance and stakeholder resilience though diversification, ESG due diligence, regulatory monitoring and strong HSE practices. Operational and integrity issues (equipment failure, ageing, maintenance gaps, grid limits, resource variability, or environmental events) can reduce output, raise costs, and erode asset value.
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EDP faces additional risks beyond the top five already identified (non-exhaustive): EDP Integrated Annual Report 2025 Strategic Approach | Risk management Index 33 Strategic & ESG Energy Business Financial Counterparty Operational Risks • Extreme weather events • Supply chain constraints, possibly causing a mismatch • in PPA timings • Energy demand fluctuations • Economic curtailment • Commercial margin volatility due to competition and customer churn • Regulatory risks • Rising interest rates • Inflation • Currency fluctuations • Liquidity pressures • Counterparty insolvency (energy, financial, suppliers) • Delays in construction and asset development • Asset damage / unavailability • Loss of confidentiality, integrity & available systems • Import tariffs • Cyber threats • Legal or compliance uncertainties Mitigation measures • Diversification of suppliers • Diversification across geographies and technologies • Climate adaptation plans • Diversification across technologies, geographies, and business lines • Dynamic commercial strategy, pricing and volume analytics, new products and offer • Proactive monitoring • Participation in regulatory discussions • Collaborative stance with authorities • Structural FX exposure control and diversification • IR management in line with policies (fixed/variable mix) • Revenue models indexed to inflation/ contract indexation • Maintaining strong liquidity buffers • Diversified financing sources and maturity profiles • Credit insurance, guarantees, r e a d - a n d - c u t - o f f c y c l e s , d e b t recovery processes • Counterparty rating-based limits for trading activities • Use of clearing houses • Detailed supplier due diligence • Contractual protections • Diversified supplier base • B e s t - p r a c t i c e o p e r a t i o n s w i t h preventive maintenance, inspections • Critical mapping, redundancy & disaster recovery systems • Security Operations Centre (SOC) • C y b e r - r a n g e s i m u l a t i o n s , cybersecurity insurance • Systematic monitoring and reporting of litigation and contingencies • Adequate provisioning for probable losses A detailed description of all relevant risks to EDP and respective mitigation measures is available on EDP website: EDP Risk Taxonomy.
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Risk analysis and quantification EDP performs quantitative assessments of potential losses using Monte Carlo simulations, which model probabilistic outcomes and generate P95% risk distributions. The Group applies a robust quantitative framework, including sensitivity analyses and stressed scenarios, to continuously monitor f i n a n c i a l a n d n o n - f i n a n c i a l r i s k s . T h e s e a n a l y s e s cover key metrics such as EBITDA, EBT, Net profit and FFO/Net Debt, both at Group level and across platforms, technologies and regions. Each year, EDP also performs a detailed sensitivity assessment of the main risk factors influencing the following year’s budget. These include renewable resource availability (hydro, wind, solar), electricity & gas prices, demand, inflation, exchange rates, and specific operational variables by market, enabling the Group to quantify their impact on EBITDA. EDP Integrated Annual Report 2025 Strategic Approach | Risk management Index 34 Note: sensitivity analysis updated since the 2026-28 Business Plan presentation on November 6th, 2025. In 2025, EDP carried out a sensitivity analysis of key market indicators for the new 2026-28 Business Plan horizon: Net profit resilient to key market drivers Avg. electricity market price Iberia hydro volume FX EUR/USD FX EUR/BRL Interest rate (EUR/USD) 10% €5/MWh 100 bps 0.10 0.50 ~€45 m ~€40 m ~€30 m ~€15 m ~€40 m Sensitivity vs. base case 2028 Net Profit impact
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EDP Integrated Annual Report 2025 Performance | Index Index 35 4.1. Financial and operational performance 4.2. Funding policy Performance04. MANAGEMENT STATEMENT Index 4.3. Share performance Carrapatelo dam | Oporto, Portugal 36 39 41
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4. Performance 4.1. Financial and operational performance Consolidated income statement, €m 2025 2024 Δ % Y o Y Gross Profit 6,940 6,873 +1% Operating costs -1,907 -1,949 -2% Other revenues/costs -164 -88 +87 Joint Ventures and Associates 159 -35 - EBITDA 5,028 4,801 +5% D&A, Impairments and Provisions -2,028 -2,539 -20% EBIT 2,999 2,262 +33% Net Financial Expenses -1,033 -882 +17% Income Taxes (inc. Extraordinary Tax to the Energy Sector) -614 -554 +11% Non-controlling interests -203 -24 - Net Profit 1,150 801 +44% Recurring EBITDA1 5,028 4,954 +1% Recurring Net Profit 1,279 1,393 -8% Financial Position, €m 2025 2024 Δ Y o Y Total Assets 54,956 56,431 -1,474 Total Equity 16,506 16,205 +301 Total Liabilities 38,450 40,225 -1,775 Net Debt 15,357 15,565 -209 Investing and operating measures, €m 2025 2024 Δ Y o Y Capex 3,661 4,745 -1,085 Asset Rotation and other strategic proceeds2 1,608 1,616 +4 Organic Cashflow 3,314 2,857 +456 EDP Integrated Annual Report 2025 Performance | Financial and operational performance Index 36 2025 2024 70% 30% Renewables, Clients & EM Electricity Networks 18% 11% 35% 18% 12% 4%1% Portugal Spain North America Brazil Rest of Europe APAC Other Recurring EBITDA by segment1, €m CAPEX by geography €3.7 Bn€3.7 Bn Renewables, Clients & EM Electricity Networks 69% 31% 5,028 4,954 +1% CAPEX by segment 89 11 1,539 1,607 3,3363,400 Other / Adjust Recurring EBITDA increased 1% YoY positively impacted by higher generation at EDP Renewables, which more than compensated lower results on FlexGen & Clients and absence of asset rotation gains in electricity networks. Improved operational performance was mitigated by higher net financial expenses due to higher avg. cost of debt (from 4.5% in 2024 to 4.8% in 2025) and avg. debt, resulting in an 8% decrease in recurring Net Profit YoY. Net Debt amounted to €15.4 Bn, reflecting the strong Organic Cash Flow performance (+€0.5 Bn YoY) and the stricter investment policy, with capex decreasing €1 Bn YoY. (1) Non-recurring adjustments at EBITDA level - In 2025: €0.1m - Renewables, Clients & EM segment: sale of UHE Cachoeira Caldeirão and UHE Santo Antônio do Jari (+€49m), Pecém sale (+€5m), HR restructuring (-€12m), other (-€5m); Electricity Networks Segment: HR restructuring (-€9m); Holdings and Other segment: OW, primarily due to a contract cancellation with the South Coast Wind project’s equipment supplier following negotiations (-€22m) and HR restructuring (-€6m). In 2024: €153m - Renewables, Clients & EM segment: HR restructuring (-€7m); Electricity Networks Segment: HR restructuring (-€16m); Holdings & Other segment: impairments from OW (-€147m), HR restructuring (-€4m) and the gain from the Completion of CEM Macau disposal (+€21m). (2) Asset Rotation and other strategic transactions without loss of control.
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Detail by segment Electricity Networks EDP Integrated Annual Report 2025 Performance | Financial and operational performance Index 37 Electricity Networks EBITDA impacted by the absence of asset rotation gains in 2025 vs. gains registered in 2024 related with the sale of a transmission line. Excluding gains, recurring EBITDA flat vs. 2024, with the depreciation of the Brazilian Real vs. the Euro being compensated by a positive performance in Iberia, where EBITDA was positively impacted by: (i) the annual inflation updates and an increase in incentives received from the installation of smart meters in Portugal and (ii) in Spain due to the RAB growth. 606 659 933 877 71 2025 2024 1,539 -4% Iberia Brazil Ex-AR gain 1,607 AR gain Electricity Networks Recurring EBITDA1, €m 2025 2024 YoYIberia Electricity Distributed, TWh 62 60 +3% Supply Points, # 8,007 7,939 +1% RAB, €m 4,950 4,884 +1% Electricity Distributed, TWh Supply Points, # 30.0 4,028 29,8 3,941 +0% +2% Brazil RAB, BRL m 15,230 13,480 +13% (1) Non-recurring adjustments: In 2025: €9m and in 2024: €16m, related to HR restructuring.
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Flex Gen & Clients EDP Integrated Annual Report 2025 Performance | Financial and operational performance Index 38 Hydro Installed Capacity, MW 2025 Hydro net of pumping, GWh 2024 YoY 5,522 9,046 5,522 9,160 - -1% Pumping Generation, GWh 2,261 6,352 1,819 2,556 +24% +149%CCGT Generation, GWh Hedging Price, €/MWh 70 90 -22% Hydro Generation, GWh BRL/EUR avg. rate 4,036 6.3 5,768 5.8 -30% +8% Iberia Brazil EBITDA from the FlexGen & Clients decreased to €1,457m, mostly reflecting the Iberian performance with: i) higher gas sourcing costs (vs. extremely positive conditions in 2024, ii) lower contracted prices (€90/MWh in 2024 vs. €70/MWh in 2025), offset by better selling prices on uncontracted volumes, with electricity spot price in Iberia increasing +4% YoY and positive contribution from flexibility revenues, with hydro pumping generation increasing +24% YoY. In Brazil, EBITDA decreased from €184m in 2024 to €156m in 2025, mostly impacted by the depreciation of the Brazilian Real vs. the Euro (-8% YoY) and the loss of EBITDA contribution from the deconsolidation of Hydro Power Plants sold. Flex Gen & Clients Recurring EBITDA1, €m 2025 2024 1,457 1,673 -13% 1,301 1,489 156 184 Brazil Iberia & Other Avg. pool price Spain, €/MWh 65 63 +4% (1) Non-recurring adjustments: In 2025, includes €7m from HR restructuring and €5m from other impairments. In 2024, includes €7m from HR restructuring.
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EDP Renewables (Wind, Solar & BESS) EDP Integrated Annual Report 2025 Performance | Financial and operational performance Index 39 On EDP Renewables, recurring EBITDA increased by 17% amounting to €1,974m in 2025 mostly driven by higher generation (+11% vs. 2024), with a strong contribution from North America, and resulting from higher capacity additions despite lower renewables resources (-5% below LT avg. in 2025 vs. -2% below LT avg. in 2024). Higher generation was partially offset by lower average selling prices, mainly in Europe (-13% year-on-year) and by lower asset rotation gains (€119m in 2025 vs. €179m in 2024). EDP Renewables recurring EBITDA1, €m 2025 2024 1,974 1,684 1,855 1,505 +17% 119 179 (1) 2024 non-recurring items mostly related to Colombia and OW Impairment; 2025 non-recurring impacts mainly coming from impairments in Europe including non-core countries and the accelerated depreciation of Meadow Lake IV repowering wind onshore project in US, both at D&A level as well as one-off costs at Ocean Wind’s US platform, accounted in Share of profit from associates. Includes OW. Installed Capacity, MW 2025 Renewable Index Generation % Electricity Generation TWh 2024 YoY Avg. Selling Price €/MWh 20.4 95% 40.6 11.5 23.3 4.2 19.3 98% 36.6 11.5 20.2 3.4 +6% -3p.p. +11% 0% +16% +22% Europe TWh North America TWh South America TWh 53.0 58.9 -10% 80.1 47.4 181.6 92.0 45.4 184.0 -13% +4% -1% Europe €/MWh North America $/MWh Brazil $R/MWh Asset Rotation gains Underlying EBITDA
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4.2. Funding Policy Bond issues All EDP issuances in 2025 were green notes, detailed in the following table. Investment rating Regarding EDP’s rating, in May 2023, Moody’s upgraded EDP’s rating from Baa3, with a positive outlook, to Baa2, with stable outlook. Throughout 2025, EDP maintained its rating, namely S&P’s rating of BBB with stable outlook, and Fitch’s rating of BBB with stable outlook. Long-term Short-term Outlook S&P BBB A-2 Stable Moody's Baa2 P2 Stable Fitch BBB F2 Stable Sustainable finance As part of EDP's strategy to promote greater alignment between financial policy and sustainability objectives, the group issued its first green bond in October 2018. At the end of 2025, sustainable finance amounted to €22.8 billion: (1) €14.2 billion in green bonds; (2) €7.9 billion in sustainability-linked loans and (3) €0.7 billion in green loans. The withdrawn sustainable financing represented approximately 80% of the nominal debt. During 2025, EDP issued four new green instruments totalling €3.0 billion gross proceeds. Two were issued under the existing ICMA framework (XS2978779176 and PTEDP5OM0008), while the remaining two marked EDP's inaugural European Green Bonds under Regulation (EU) 2023/2631—representing alignment with the highest European regulatory standard. On the other hand, two green bonds reached maturity in 2025: the senior bond issued in October 2018 and the hybrid bond issued in January 2020, totalling €1.35 billion. Additionally, EDP repurchased €500 million of the hybrid bond issued in January 2023. EDP Integrated Annual Report 2025 Performance | Funding policy Index 40 Centralized policy for financial debt at EDP, S.A., EDP Finance BV and EDP SFE (approximately 83% of gross debt), while the remainder is divided between EDP Brasil (ring fenced vs. the rest of the Group), project finance at some EDP Renewables subsidiaries. In 2025, the average cost of debt increased from 4.5% in 2024 to 4.8% in 2025, on the back of higher cost of debt in BRL, impacted by the increase in interest rates. Excluding Brazil, cost of debt slightly decreased, from 3.4% in 2024 to 3.3% in 2025. Fixed interest rate debt represents 78% of overall gross financial debt. 64% 16% 15% 5% Euro Dollar Real Other Gross Debt by Currency in Dec-25 ISIN Code Currency Amount Coupon Maturity XS2978779176 EUR €750m 3.5% 21/7/2031 XS3171675393 EUR €500m 3.125% 3/12/2031 PTEDP5OM0008 EUR €750m 4.5% 27/5/2055 PTEDP6OM0007 EUR €1,000m 4.375% 2/12/2055
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4.3. Share performance Capital Markets indicators 2025 2024 EDP share price Closing price (€) 3.915 3.091 Maximum price (€) 4.490 4.609 Minimum price (€) 2.876 3.053 Average price (€) 3.436 3.695 EDP’s liquidity Turnover (€ million) 8,935 7,628 Average daily turnover (€ million) 34.8 29.8 Traded volume (million shares) 2,558 2,064 Average daily volume (million shares) 10.1 8.1 EDP share data Number of shares issued (million) 4,184 4,184 Treasury stock (million) 50.1 20.1 Outstanding shares (million) 4,133.9 4,163.9 EDP’s market value Market capitalization (€ million) 16,380.4 12,932.8 Dividend EDP has a sustainable and predictable dividend policy, having approved the payment of an annual gross dividend of €0.200 per share on its General Shareholders’ Meeting on April 10th, 2025 (ex-dividend date: May 2nd). As announced on EDP’s Capital Markets Day in November 2025, the dividend floor of €0.200 per share will be maintained in 2026 and increased to €0.205 per share in 2027 and to €0.210 per share in 2028. Share Buyback program In the context of macro uncertainty around changing US policies with material negative impact on share price and taking into consideration the additional flexibility given investment slowdown for the 2025-2026 period, EDP executed a €100m Share Buyback program between February 28th and April 8th, 2025, acquiring 32.4 million shares at an average price of €3.09 per share (or €2.89 ex-dividend adjusted). EDP STOXX Europe 600 Euro Stoxx Utilities S&P Global Clean Energy Index Jan/25 Feb/25 Mar/25 Apr/25 May/25 Jun/25 Jul/25 Aug/25 Sep/25 Oct/25 Nov/25 Dec/25 €3.00 €3.50 €4.00 €4.50 €5.00 €5.50 €6.00 EDP Integrated Annual Report 2025 Performance | Share performance Index 41 Total Shareholder Return (rebased to EDP's TSR/share) Highlights: January 20th: Trump US presidency inauguration, increasing discussion and newsflow around possible renewables tax credits cut. February 27th: EDP presents its 2024 annual results. April 2nd: Trump signs new global tariffs on US imports. May 6th: Payment date of €0.20 gross annual dividend per share (ex-dividend date: May 2nd). May 9th: EDP releases its 2025 first quarter results. July 4th: Trump signs OBB, providing visibility on tax credits. July 31st: EDP releases its 2025 first half results. August 15th: Trump administration releases guidance on Safe Harbour. November 6th: EDP announces new 2026-28 Business Plan and 2025 nine months results. +47% +41% +21% +35% Source: Bloomberg from 31/12/2024 to 31/12/2025.
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Sustainability Statement EDP Integrated Annual Report 2025 Sustainability Statement Index 42 Networks | Portugal
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EDP Integrated Annual Report 2025 Sustainability Statement | Index Index 43 59Environment02. Social03. 186Governance 04. 44General information01. 121
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EDP Integrated Annual Report 2025 Sustainability Statement | Index Index 44 Index General information01. SUSTAINABILITY STATEMENT 1.2. EDP at a glance 46 Ménestreau solar park | Bourgogne Franche-Comté, France 1.1. Reporting context 45
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1. General information BP-1 | BP-2 1.1. Reporting context Reporting standards and principles EDP's Sustainability Statement is prepared in accordance with the European Sustainability Reporting Standards (ESRS) under the Corporate Sustainability Reporting Directive (CSRD). The information disclosed reflects the topics identified as material through the double materiality assessment. In accordance with the applicable transitional provisions, EDP applied the available quick-fix measures to ESRS E4, S2, S3 and S4 for the reporting period. The alignment of the disclosures with other European Union regulatory frameworks is presented in a cross-reference table, namely with regard to the Sustainable Finance Disclosures Regulation (SFDR), the EU Taxonomy, Pillar 3, and the EU Climate Law. In addition, other reporting standards and frameworks have been considered, such as Greenhouse Gas (GHG) Protocol, the Science Based Targets initiative (SBTi), the Task Force on Climate-related Financial Disclosures (TCFD), the Science Based Targets Network (SBTN), and the Taskforce on Nature-related financial disclosures (TNFD). EDP defines its time horizons, in accordance with ESRS: short-term covers periods up to one year, medium-term up to five years, and long-term more than five years. EDP did not omit information related to intellectual property, know-how, innovation, impending developments, or ongoing negotiations. Scope of consolidation The sustainability reporting covers all subsidiaries of the EDP Group, using the same consolidation perimeter as the financial statements. A list of these entities and their respective geographies is included in the Financial Statements and Notes section of the Annual Report. The scope of the Sustainability Statement encompasses the entire value chain, structured across three stages — upstream, own operations, and downstream. EDP’s identification and assessment of impacts, risks, and opportunities covers all these stages to ensure that the sustainability disclosures provide a complete and balanced reflection of the company’s full value chain and operational footprint. Sources of estimation and outcome uncertainty EDP’s supply chain metrics are based exclusively on primary data collected directly from suppliers, without the use of estimates.However, certain metrics—mainly energy consumption—required limited estimation. These estimations affected a few data points related to energy use and efficiency, for which the assumptions are disclosed in the respective sections of the report. In cases where data are estimated, they are duly identified throughout the document, together with the assumptions and judgments applied. EDP continues to refine data collection processes to improve accuracy in future reporting cycles. Changes in preparation, presentation or due to specific circumstances Any change in how sustainability information is prepared compared with the previous reporting period is disclosed together with the respective information.EDP did not identify any material errors from prior reporting periods. No material restatements or corrections were required, as no significant prior period errors were found. When comparative data were adjusted, any differences between revised and previously published figures were explained in the respective sections. Incorporation by reference To avoid duplication and ensure coherence within this Report, specific disclosures regarding corporate governance and remuneration have been incorporated by reference: Requirement Description Location ESRS 2 GOV-1 The role of the administrative, management and supervisory bodies Corporate Governance chapter, items 17, 21, 29 and 55; recommendations table II.2.1 and VII.7; Annex I ESRS 2 GOV-2 Information provided to and sustainability matters addressed by the administrative, management and supervisory bodies Corporate Governance chapter, item 29 ESRS 2 GOV-3 Integration of sustainability-related performance in incentive scheme Remunerations chapter, parts A and B (Remuneration Policy applicable to EBD and Governing Bodies) ESRS 2 GOV-5 Risk management and internal controls over sustainability reporting Corporate Governance chapter, items 29 and 55; recommendations table VII.7 EDP Integrated Annual Report 2025 Sustainability Statement | General information Index 45
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EDP Integrated Annual Report 2025 Sustainability Statement | General information Index 46 1.2. EDP at a glance Business model Raw materials Transmission & Distribution Generation Processing of raw materials Transport Onshore wind Offshore wind Solar plants and BESS Asset development & construction Thermal Upstream value chain Own operations Downstream value chain Asset decommissioning and repowering opportunity: reuse of infrastructures Energy sales Industry supply Electric vehicles Solar DG Energy supply Component recycling and site restoration Energy management Electricity transmission & distribution Energy procurement, sales, and dispatch Hydro Public supply, B2B & B2C Energy solutions Charging points Smart meters SBM-1 Business model and value creation EDP’s business model focuses on the generation, transmission, distribution, energy management, energy supply and energy solutions across Europe, North America, South America and the Asia-Pacific regions. The Group’s activities encompass the development, construction, operation and lifecycle management of energy assets, including onshore and offshore wind, solar and hydro, totalling more than 26.0 GW of installed capacity. EDP continues to scale its renewable portfolio by deploying technologies such as hybrid solutions and energy storage, while expanding its grid infrastructure. EDP maintains limited exposure to fossil fuels, with gas and coal-related revenues representing 3.1% of total revenues. In 2025, renewables account for approximately 90% of the Group’s electricity generation, reflecting its ongoing commitment to decarbonization.
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SBM-1 Inputs, outputs and outcomes EDP’s business model relies on a diversified and increasingly low-carbon energy portfolio, mainly renewable, complemented by a limited role of thermal generation assets to ensure system adequacy and flexibility. Activities rely on land and infrastructure for electricity generation, transmission, distribution and supply, grid and digital systems enabling network operation, and raw materials and components for power plants and networks. The business model also relies on a skilled workforce and specialised contractors, financial resources invested in asset development, maintenance and modernisation, and ongoing engagement with customers, communities, suppliers and public authorities. Through the use of these inputs, electricity is generated, transported, distributed, and supplied to electricity customers, supporting economic activity, energy security and the progressive decarbonisation of the energy system. In addition, EDP purchases natural gas in wholesale markets for gas final consumers. These activities contribute to employment, infrastructure development and the provision of essential energy services. At the same time, energy generation, network operation and customer supply activities may result in environmental and social impacts across the value chain, which are identified, assessed and addressed through EDP’s management processes applied across the lifecycle of assets and services. SBM-1 | SBM-3 Revenues breakdown and current financial effects The revenue breakdown shows how EDP’s integrated business model generates economic value across regions and operating segments. Revenues mainly derive from electricity generation, network activities and customer energy solutions. Re v e n u e f r o m f o s s i l f u e l s a n d T a x o n o m y - a l i g n e d f o s s i l - g a s a c t i v i t i e s is presented in EU Taxonomy. 2025 Reported Operating Segments Other Segments Group Revenues (m€) Renewables, Clients & EM Electricity Networks Total Energy and access 9,863 1,745 11,608 2,240 13,848 Revenue from assets assigned to concessions — 1,059 1,059 — 1,059 Other 565 103 668 32 700 10,428 2,907 13,335 2,272 15,607 2024 Reported Operating Segments Other Segments Group Revenues (m€) Renewables, Clients & EM Electricity Networks Total Energy and access 8,922 2,283 11,204 2,055 13,259 Revenue from assets assigned to concessions — 958 957 — 957 Other 619 99 718 31 750 9,541 3,339 12,880 2,086 14,966 Revenues (m€) 2025 2024 Total Revenues from energy sales and services and other of Reported Segments 15,051 14,138 Revenues from energy sales and services and others from Other Segments 2,758 2,308 Adjustments and Inter-segments eliminations* -2,202 -1,480 Total Revenues from energy sales and services and other of EDP Group 15,607 14,966 The Group’s financial position continues to reflect the impairment of the wind portfolio in Colombia, driven by the social and regulatory challenges identified in the previous year. As at 31 December 2025, the accumulated impairment stands at €552.9 million. Please refer to Note 12 of the Financial Statements for further details. SBM-1 Employees The following table provides the employee headcount by region for 2025, offering an overview of the company’s global workforce distribution. Employee headcount by region UN 2025 2024 Iberia # 7,152 7,519 Rest of Europe # 487 608 South America # 2,952 3,050 North America # 969 1,060 Asia-Pacific # 305 359 Total # 11,865 12,596 EDP Integrated Annual Report 2025 Sustainability Statement | General information Index 47
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SBM-2 Interests and views of stakeholders Stakeholder engagement EDP has established a structured approach to stakeholder engagement, supported by the Stakeholder Relationship Policy, a defined methodology and a Local Stakeholder Engagement Policy and its procedures. These policies apply across EDP’s activities, geographies and project lifecycles and provide a common framework for planning, implementing and monitoring engagement activities. Within this framework, the methodology incorporates both internal and external perspectives, drawing on independent assessments. Based on these inputs, an action plan is developed, with specific monitoring and reporting criteria defined for each project and project phase. EDP’s stakeholder engagement approach is guided by four interaction commitments — comprehend, communicate, trust and collaborate — which frame how engagement activities are designed and conducted. Engagement is used to identify and understand stakeholder views and concerns, to support the identification and assessment of impacts, risks and opportunities, and to inform the definition and implementation of actions, mitigation measures and follow-up activities within EDP’s governance, risk management and inform the double materiality assessment process. Identification and engagement overview EDP applies a formal stakeholder segmentation model, reviewed periodically and used consistently across the Group. Stakeholders are identified and categorised based on their relationship with EDP’s activities and value chain and their potential exposure to impacts. This segmentation supports stakeholder mapping, engagement planning and prioritisation, including at project and local level. The table alongside summarises EDP’s main stakeholder categories and the main engagement mechanisms applied, detailed in the topical sections of this report. Democracy Market Value chain Social & local communities Stakeholder segmentation Governments, public powers & regulation, parliament & political parties, municipalities, international institutions & associations Competitors investors & analysts, financial entities & tax equity investors, shareholders Employees & unions, suppliers, partners, universities & scientific community, business associations, clients, asset owners NGOs Landowners Local Population Education Institutions Media & Opinion Leaders Workforce Suppliers & partners Clients & asset owners Main engagement mechanisms Meetings, consultations, Business & Trade Associations Reporting, meetings, roadshows Workforce wellbeing, safety, performance ESG due diligence, audits Surveys, service channels Assessments, Consultations, surveys, grievance mechanisms Key topics addressed Regulation, permitting, energy policy Strategy, performance, sustainability Surveys, dialogue, bargaining Human rights, environment, ethics Affordability, service quality Local impacts, land use, community concerns Engagement frequency / nature Ongoing / event- driven Periodic Ongoing Periodic with monitoring Ongoing Ongoing through project lifecycle Application level Group & local Group Group & local Group & local Group & local Local / project EDP Integrated Annual Report 2025 Sustainability Statement | General information Index 48
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Governance, oversight and integration of stakeholder engagement Stakeholder engagement is organised through central coordination and local implementation, with defined roles and responsibilities. Group-level coordination is ensured by corporate functions, while regional and project teams conduct engagement in accordance with local procedures. Oversight of stakeholder engagement is provided by the Executive Board of Directors and management-level committees, as well as the General and Supervisory Board, supported by its specialised committees, ensuring accountability and consistency in engagement practices across the Group. Engagement with social and local communities is conducted in accordance with EDP’s Local Stakeholder Engagement Policy and applies to activities that may affect local populations, landowners, NGOs and other community stakeholders. As part of stakeholder identification, EDP identifies affected communities and potentially vulnerable groups, taking into account social, environmental and economic impacts at local level. Please refer to local communities chapter for additional information. EDP has established formal engagement processes and communication channels for local stakeholders, including meetings, consultations and dialogue mechanisms. Formal grievance mechanisms are accessible to affected communities, allowing concerns to be raised through defined channels. Grievances are systematically recorded, tracked and monitored, with responsibilities, escalation procedures and response timelines defined in internal procedures. EDP uses surveys, consultations and structured feedback mechanisms, including at local level where applicable, to periodically review stakeholder perceptions, identify emerging concerns and assess the effectiveness of engagement practices over time. Where appropriate, engagement practices include information-sharing activities designed to facilitate stakeholders’ effective participation. Information on stakeholder-specific communication channels is disclosed in the relevant topical sections of this report, while additional detail on the operation of the Group’s grievance mechanisms, including the Speak-Up channel, which is accessible to all stakeholder groups, is provided in the dedicated grievance mechanisms section. GOV-4 Sustainability due diligence EDP's due diligence process is a comprehensive approach to integrating sustainability into all aspects of our operations. The core elements of this process include: • Embedding sustainability due diligence - This involves incorporating sustainability considerations into governance structures, strategic planning, and business models. It ensures that sustainability is a fundamental part of decision-making at all levels of the organization and integrated in the company business plan • Double materiality assessment - The double materiality assessment structures the due diligence process. EDP identifies the material topics through the analysis of impact materiality, relating to impacts on society and the environment, and financial materiality, relating to sustainability risks and opportunities that may affect EDP’s performance and enterprise value. • Engaging with affected stakeholders - EDP actively involves stakeholders, enabling the company to understand their concerns and expectations, ensuring that the actions are aligned with their interests. • Identifying and assessing adverse impacts - EDP systematically identifies and assesses potential adverse impacts on society and the environment. This assessment helps prioritize actions and allocate resources effectively. • Taking actions to address adverse impacts - Based on these assessments, EDP implements targeted actions to mitigate or eliminate adverse impacts. These actions are integrated into the broader sustainability strategies and plans. • Tracking effectiveness and communicating - EDP monitors the effectiveness of these efforts through established metrics and targets. Regular reporting ensures transparency and accountability, allowing stakeholders to track progress and hold EDP accountable. EDP Integrated Annual Report 2025 Sustainability Statement | General information Index 49
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Material topic ESRS Responsible EBD member Management Committees and other structures Climate change E1 Rui Teixeira (CFO) Risk Committee Sustainability Committee Water E3 Rui Teixeira (CFO) Sustainability Committee Biodiversity and ecosystems E4 Rui Teixeira (CFO) Sustainability Committee Circular economy E5 Rui Teixeira (CFO) Sustainability Committee Human capital S1 Miguel Stilwell de Andrade (CEO) and Ana Paula Marques People & Organization Committee; Sustainability Committee; Safety Committee; Digital & Tech Committee Supply chain management S2, G1-1 Rui Teixeira (CFO) Sustainability Committee Local communities S3 Vera Pinto Pereira and Pedro Vasconcelos Sustainability Committee Resilient supply S4 Miguel Stilwell de Andrade (CEO), Ana Paula Marques and Vera Pinto Pereira Sustainability Committee Customer Ombudsperson (Independent Structure) Business conduct G1 Miguel Stilwell de Andrade (CEO) and Pedro Vasconcelos Ethics Commission (Independent Structure) Sustainability Committee Sustainability Committee Supports the EBD in defining sustainability policies, practices and internal mechanisms, coordinating with the GSB’s Committees and contributing to the integrated management of EDP’s ESG risks and opportunities Corporate Governance and Sustainability Committee Monitors and supervises, on an ongoing basis, matters related to corporate governance and sustainability, including double materiality, ESG practices and stakeholder relations, ensuring alignment between the GSB and the EBD on these matters EDP Integrated Annual Report 2025 Sustainability Statement | General information Index 50 GOV-1 | GOV-2 | GOV-3 | GOV-4 Sustainability governance Sustainability is fully integrated into EDP's dual governance model, in which the Executive Board of Directors monitors each material issue — defining strategy and managing risks and opportunities — while the General and Supervisory Board, through its specialised committees, ensures the supervision, assessment and continuous monitoring of these matters. Remuneration Committee Corporate Governance and Sustainability Committee United States of America Affairs Monitoring Committee Financial Matters Committee Company Secretary Remuneration Committee of the General Shareholders’ Meeting Board of General Shareholders' Meeting Statutory Auditor General and Supervisory Board Executive Board of Directors General Shareholders' Meeting 16 52 3 675 4 Corporate Entities Other Corporate Structures Number of membersx
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Structure and Diversity of Governing Bodies The composition of EDP's governing bodies, as well as the principles that guide their diversity, are reflected in the following tables, which summarise the distribution by gender and other structural indicators. UN Male Female Total Number of executive members # 3 2 5 Number of non-executive members1 # 10 6 16 UN 2025 2024 EBD Board's gender diversity ratio 2 X 0.67 0.67 GSB Board's gender diversity ratio X 0.60 0.60 Percentage of independent board members % 56.3 56.3 GSB Committees Corporate Governance and Sustainability Committee Board's gender diversity ratio X 0.40 0.40 Percentage of independent board members % 57.1 57.1 Financial Matters Committee Board's gender diversity ratio X 1.00 1.00 Percentage of independent board members % 75.0 75.0 Remuneration Committee appointed by the GSB Board's gender diversity ratio X 0.25 0.25 Percentage of independent board members % 60.0 60.0 United States of America Business Affairs Monitoring Committee Board's gender diversity ratio X 1.00 1.00 Percentage of independent board members % 83.3 83.3 For further details on the composition, selection criteria, diversity policies, independence and functioning of the governing bodies and their respective specialised committees, please refer to the Corporate Governance chapter, specifically to Part I, Item 17, Part II Recommendations table II.2.1 and Annex I. Responsibilities, Functions and Supervisory Mechanisms The responsibilities and supervisory mechanisms assigned to the Executive Board of Directors and the General and Supervisory Board, as well as the coordination between the management committees and internal structures, are presented in detail in the Corporate Governance Chapter, to which reference is made, namely in the following items of Part I: Item 17; Item 21, namely 'Powers of the General and Supervisory Board' and 'Powers of the Executive Board of Directors'; Item 29; Item 55. Relevant information can also be found in Part II, Recommendations table, VII.7. Sustainability Skills and Monitoring EDP ensures its governing bodies possess the necessary skills to define, implement and monitor the sustainability strategy through robust assessment, training and reporting mechanisms supported by internal policies and transparent reporting structures. The training, skills and experience of General and Supervisory Board members are publicly disclosed through a skills matrix and CVs published on the corporate website, highlighting their expertise and leadership in sustainability matters. The members of the Specialised Committees within the General and Supervisory are similarly selected based on appropriate qualifications and experience as documented in their CVs. To ensure continuous improvement and alignment with best practices, EDP develops targeted training and development programmes for governing bodies on sustainability issues when deemed appropriate, keeping members current on the latest sustainability practices and trends whilst strengthening their capacity to effectively supervise and manage sustainability-related risks and opportunities. For further details, see the Corporate Governance chapter of this Report, specifically Part II, Table II.2.1 and Annex I (CVs). Risk Management, Opportunities and Sustainability Strategy The processes for identifying, assessing and managing material impacts, risks and opportunities are detailed in the Corporate Governance chapter, specifically in Part I, item 29. EDP Integrated Annual Report 2025 Sustainability Statement | General information Index 51 1 Notwithstanding the governance model in force at EDP, for the purposes of this report, non-executive members are considered to be the members of the General and Supervisory Board. 2 Ratio of women to men among Board members.
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Sustainability-related performance – Remuneration The remuneration policy applicable to corporate bodies, including the integration of ESG indicators in the annual and multi-annual variable components, is described in the Remuneration chapter of this Report, subchapters A. Remuneration Policy applicable to members of the Executive Board of Directors approved by the Remuneration Committee appointed by the General and Supervisory Board and B. Remuneration policy applicable to members of the Governing Bodies approved by the Remuneration Committee elected by the General Shareholders' Meeting. GOV-5 Risk management and internal controls over sustainability reporting EDP Group's sustainability governance structure and overall risk management model are detailed in Part I, item 29 (Committees) and recommendations table VII.7 of the Corporate Governance chapter, respectively. Regarding the Internal Control System for Sustainability Reporting specifically, the Group adopts a risk assessment methodology focused on information reliability, distinct from strategic materiality analysis. This assessment characterises the risk of misstatement across two dimensions: • Magnitude: the potential impact of a reporting deficiency • Probability: the likelihood of error materialisation. Priority reporting risks managed through this system include data integrity and completeness, accuracy of estimates, and timely availability of information. Additionally, in 2025, the control self-certification process (described in item 55 of the CG Report) explicitly encompassed sustainability controls. EDP Integrated Annual Report 2025 Sustainability Statement | General information Index 52
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2028 commitments EDP Integrated Annual Report 2025 Sustainability Statement | General information Index 53 90% renewable generation in 2026-2028 100% Growth CAPEX in Renewables & Electricity Networks Net Zero by 2040 Focus on resilience Strengthen local community engagement and promote biodiversity Partner with our suppliers Foster circularity Climate adaptation plans for assets 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 & action plan 100% purchases with ESG risks covered by ESG Due Diligence >85% total waste recovered along the assets' life cycle Protect and uplift our people Zero serious injuries and fatalities Empowered ecosystem Human-centred experience Highest standards of integrity SBM-1 Sustainability strategy 1Projects subject to the Investment Committee’s approval EDP integrates sustainability into its business strategy to deliver secure and affordable energy while addressing the environmental and social challenges of the energy transition. The Group recognises that its business model relies on significant natural resources and involves interactions with ecosystems, local communities, suppliers and partners across the value chain, creating both responsibilities and opportunities. EDP’s sustainability commitments to 2028 reflect the material topics identified through the company’s Double Materiality Assessment, addressing the most significant impacts, risks and opportunities across environmental, social and governance dimensions. These commitments are translated into a set of ESG targets for 2028, supporting strategy implementation and providing a clear framework to monitor progress and performance over the business plan period. The current assessment of the targets set and commitments, in line with the Company’s strategy, is presented at the beginning of each chapter.
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IRO-1 | IRO-2 | E2.IRO-1 | SBM-3 Double materiality assessment Methodologies and assumptions EDP Integrated Annual Report 2025 Sustainability Statement | General information Index 54 Purpose, scope and regulatory context EDP has conducted a Double Materiality Assessment (DMA) in accordance with the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS), for the second consecutive year. The assessment applies the principle of double materiality, considering both the actual and potential impacts of EDP’s activities on society and the environment, as well as the sustainability-related risks and opportunities that may affect the Group’s financial position, financial performance and long-term value creation. The scope of the DMA covers the entire EDP Group and its full value chain, including upstream activities, own operations and downstream activities, across all relevant geographies and business relationships. As a starting point for the identification of material sustainability matters, EDP consulted the ESRS topical standards and the list of sustainability matters set out in ESRS 1 (Appendix AR 16). This list was used to identify relevant topics, sub-topics and potential impacts, risks and opportunities (IROs) and served as a structured baseline rather than a predetermined outcome. In line with ESRS guidance, it was complemented by EDP’s own comprehensive assessment, reflecting the Group’s specific activities, value chain and risk profile.
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Integration with Enterprise Risk Management The identification of IROs within EDP is established by the Enterprise Risk Management (ERM) framework, following EDP Group's risk taxonomy, which is structured around four categories: Strategic & ESG, Business, Financial, and Operational. Several processes established complement each other, guaranteeing a solid and integrated risks management. Focusing on outside-in impacts, three wide processes are established: • EDP Group risk map - Overview of key risks and impacts of budget and business plan execution, focusing on business, financial, counterparty and operational risks. It involves the entire group, focusing on the different geographies and businesses. This exercise is performed annually and continuously reviewed, monitored and updated throughout the year. The risk quantification is based on the potential loss in EBITDA, in a P95% scenario, estimated through the application of Monte Carlo simulations. Monte Carlo simulation, through the definition of probabilistic distributions for each risk factor/variable, allows to simulate possible future outcomes; for each simulation, different values are randomly generated for each of the probability distributions of the various risk variables (inputs). The result of a Monte Carlo simulation is a probability distribution, i.e., a representation of the different possible future outcomes and their probability of occurrence. In addition, EDP also makes a qualitative assessment of the potential financial impact and probability/ likelihood of each risk, and the impact matrix for the main risks identified above is presented below • EDP Group emerging risks assessment - survey of most relevant strategic and ESG risks and impacts to EDP Group's business activities and geographies. This exercise is updated every 2 years • EDP Group climate risk assessment and quantification process - annual analysis spearheaded by the Risk and Sustainability departments that evaluates the primary physical and transition climate risks and opportunities across all businesses and regions. See more detail in the Climate change section. These ERM processes provide a consistent methodological backbone for the DMA, drawing on EDP’s risk analysis methodology to structure the identification and evaluation of sustainability-related matters. The assessment criteria, scales and thresholds applied in the DMA are based on EDP’s ERM framework and on ESRS guidance, providing a structured framework for evaluating the materiality of impacts, risks and opportunities across all EDP Group activities. Impact materiality Impact materiality is assessed by evaluating EDP’s actual and potential impacts on people and the environment across the full value chain. Impacts are classified as positive or negative, actual or potential, and assessed over short-, medium- and long-term time horizons. The severity of impacts is evaluated based on scale, scope and irremediability, with likelihood considered for potential impacts. For negative impacts related to human rights, severity takes precedence over likelihood, in line with ESRS requirements and EDP’s due diligence approach. Financial materiality Financial materiality is assessed by analysing sustainability-related risks and opportunities that may affect EDP’s financial position, financial performance or future development. Risks and opportunities are evaluated based on their potential magnitude, including economic - based on EBITDA - and reputational impacts, and their likelihood of occurrence. Dependencies EDP identifies the external factors on which its operations depend, such as natural resources, regulatory frameworks and social conditions, and assesses how changes in these factors may create risks or opportunities for the business. This analysis is considered together with the assessment of EDP’s impacts on the environment and society, ensuring that risks and opportunities arising from both impacts and dependencies, and from their interconnections, are identified. Time horizons The following time horizons are applied consistently across the DMA: • Short term - the reporting period adopted by EDP for its financial statements, i.e. within one year • Medium term - from the end of the short-term reporting period up to five years • Long term - more than five years. Thresholds A materiality threshold of 60/40 was applied to determine which IROs are considered material for reporting purposes. IROs that meet or exceed the defined threshold are prioritised and included within EDP Integrated Annual Report 2025 Sustainability Statement | General information Index 55
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the scope of sustainability reporting, ensuring a focused and consistent presentation of material sustainability matters. Determination of material information for disclosure Following the identification of material IROs, EDP determines the specific sustainability information to be disclosed by mapping each material impact, risk and opportunity to the corresponding ESRS disclosure requirements and data points. If one or more material IROs are linked to a given disclosure requirement, the related information is considered material and is therefore reported. This correlation between material IROs and ESRS data points ensures that disclosures are directly driven by the outcome of the double materiality assessment, supports consistency between the DMA results and the content of the sustainability statement. Not material topics The topical standard E2 Pollution resulted as not material. The process to identify actual and potential pollution-related impacts, risks and opportunities followed the same methodology and steps as for all other IROs. Pollution was ranked by direct evaluation, considering internal information from the environmental management system in place, using namely the risk environmental process detailed in Biodiversity management approach and environmental concerns raised by local communities. Both these instruments are used at site level. Process The DMA builds on EDP’s first CSRD-aligned assessment conducted in 2024, which established the reference methodological framework. In 2025, targeted refinements were introduced, particularly in calibration, stakeholder integration and governance, while maintaining continuity and comparability of outcomes. The assessment follows a structured, four-step process, supported throughout by stakeholder engagement to inform the assessment of impact materiality and the prioritisation of sustainability matters: 1 → 2 → 3 → 4 Identification Assessment Consolidation & calibration Validation and approval of relevant sustainability topics, sub-topics and potential IROs of identified IROs across the value chain, integrating internal expertise and stakeholder perspectives of IROs using defined materiality criteria and threshold of the DMA outcomes through senior management and Board-level governance The process was supported by a cross-functional team from Investor Relations & ESG, Risk, EU Affairs, Policy & Stakeholders and Strategy & Reputation Management The outcomes of the double materiality assessment are considered as an input to EDP’s strategic planning and business plan EDP Integrated Annual Report 2025 Sustainability Statement | General information Index 56
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Stakeholder engagement Stakeholder engagement is a cross-cutting input to EDP’s DMA, supporting the assessment and prioritisation of IROs across the full value chain. In particular, stakeholder perspectives inform the assessment of impact materiality. Stakeholder input is incorporated through three complementary channels: • established stakeholder engagement processes, providing structured external input on EDP’s actual and potential impacts across the value chain • internal focal points who assess the IROs and contribute insights derived from their ongoing interactions with stakeholders • focused interviews with areas such as Business Development, Stakeholders and Clients, covering all Regions. Stakeholder inputs are considered alongside internal expertise and quantitative and qualitative assessments during the DMA, supporting robust materiality outcomes. 1. Identification and revision of IROs Building on the ESRS reference list and the methodological assumptions described above, the DMA begins with a review of the IROs identified in the previous assessment to confirm their continued relevance, identify emerging topics where applicable, and ensure that the IRO universe remains complete, up to date and aligned with EDP’s risk profile and operating context. In 2025, following an initial review and update of the list of IROs considered in the DMA process, , new IROs were identified and added to the list, some existing IROs were eliminated, and others were rewritten to better reflect the current context. As a result of this reassessment, some IROs previously assessed as material did not meet the threshold in 2025, while other IROs were identified as material in the current assessment. 2. Assessment of IROs IROs are assessed across upstream activities, own operations and downstream activities. Internal focal points covering all Platforms and Regions contribute to the assessment, providing insights grounded in operational knowledge and regional specificities, including perspectives derived from their interactions with external stakeholders. Initial assessment results form the basis for subsequent consolidation and calibration. 3. Consolidation and calibration The results are combined and reviewed during the calibration phase, which focuses on the structured review of identified IROs, applying the defined materiality criteria, scoring scales and thresholds for both impact materiality and financial materiality. As part of the calibration phase, sustainability-related risks are prioritised alongside other strategic, financial and operational risks using common criteria and thresholds, ensuring consistency with the Group’s overall risk profile and risk appetite. Calibration is carried out through a multi-stage process. An initial calibration is performed by the IR & ESG team, integrating internal assessments and stakeholder perspectives as described in the interests and views of stakeholders section, particularly to inform impact materiality. This is followed by a cross- functional review by the core DMA team, consolidating the outputs of the initial calibration and ensuring consistency and comparability across the Group. A senior governance final review is then performed by the Board member responsible for Investor Relations and Sustainability. 4. Validation, approval and governance The DMA results are reviewed by the Sustainability Committee, presented to the Financial Matters Committee and the General and Supervisory Board, and formally approved by the Executive Board of Directors. Review, assurance and update cycle The DMA process i externally assured by PwC. The DMA is revisited annually to reflect changes in EDP’s activities, risk profile or external context may affect the relevance of previously identified and assessed impacts, risks and opportunities. EDP Integrated Annual Report 2025 Sustainability Statement | General information Index 57
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Double materiality matrix EDP Integrated Annual Report 2025 Sustainability Statement | General information Index 58 The matrix provides a high-level overview of the sustainability topics identified as material for reporting purposes, aligned with the list of sustainability matters set out in ESRS 1. For each sustainability topic, the position in the matrix is determined based on the highest-rated underlying impact, risk or opportunity (IRO) identified through the assessment. For reporting purposes, certain topics have been grouped to improve clarity and readability. Where topics are combined, additional explanatory information is provided in the accompanying notes to ensure transparency and traceability between the IRO-level assessment and the reported sustainability matters. 'Biodiversity’ covers ESRS E3 (Water and Marine Resources) and ESRS E4 (Biodiversity and Ecosystems). 'Circular economy' covers ESRS E5 (Resource use and circular economy) ‘Human Capital’ covers ESRS S1 (Own Workforce). 'Local communities' covers ESRS S3 (Affected communities). ‘Resilient Services’ encompasses ESRS S4 (Consumers and End-users), as well as business continuity and cybersecurity. ‘Business Conduct’ (ESRS G1) includes supply-chain-related aspects which, for reporting purposes, are addressed together with ESRS S2 (Workers in the Value Chain) under ‘Supply Chain Management.
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EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 59 2.1. Climate Change 60 2.2. Nature and Resource Management 90 Index Environment02. SUSTAINABILITY STATEMENT 2.2.1. Water 97 2.2.2. Biodiversity and ecosystems 101 2.2.3. Resource use and circular economy 108 2.3. European Taxonomy 115 Wildcat Creek wind farm | Texas, USA
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2. Environment 2.1. Climate change EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 60 Climate change sits at the core of EDP's strategy, generating both significant challenges and defining opportunities across the value chain. The company's operations produce greenhouse gas emissions—a material negative climate impact—whilst simultaneously driving decarbonisation through renewable energy expansion, low-carbon solutions, and efficiency improvements that reduce reliance on fossil fuels and strengthen infrastructure resilience. Physical climate risks manifest through acute events where severe weather threatens facilities with operational disruptions, increased costs, and efficiency losses, alongside chronic risks from long-term climate pattern shifts affecting asset performance and hydrological resources. EDP's climate adaptation strategy (further information - Climate Adaptation and Resilience Report 2025) addresses these vulnerabilities through resilience plans integrating risk assessments into project design and combining engineering solutions, digitalisation, and nature-based approaches to protect infrastructure against intensifying climate stressors. Transition risks arise from regulatory change, market dynamics, and carbon pricing mechanisms. Short-term exposure to rising emission costs and reduced free allowances combines with medium-term risks from policy shifts, competitive pressures, and stakeholder expectations. These interactions generate regulatory, reputational, and financial risks, driving systematic responses embedded in capital allocation and portfolio strategy. The climate mitigation strategy operationalises science-based targets validated by SBTi, aligned with a 1.5°C pathway and Net Zero by 2040, supported by €12 billion planned investment in renewable generation through 2028, network modernisation, and supply chain decarbonisation. Energy efficiency measures and renewable sourcing present material opportunities, delivering cost reductions, improved environmental performance, and competitive positioning. Over 90% renewable generation, near-complete coal phase- out, and limited transitional gas capacity demonstrate strategic alignment between climate action, business model evolution, and long-term value preservation under climate- constrained scenarios.
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EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 61 Environmental policy Supplier code of conduct Climate adaptation and resilience report Climate transition plan (within this chapter) Policies and guidelines Governance
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EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 62 Near 0 coal-fired generation by 2025, with technology conversion plans under evaluation and limited gas-fired generation, cutting emissions while safeguarding the system security and flexibility. Scale-up renewable deployment, with ~5 GW of gross additions in 2026-2028, to exceed 90% renewable generation. Mitigation of gen-retail imbalance via renewable expansion, corporate PPAs and EACs. Build and maintain product- specific emissions databases and integrate climate and emissions performance criteria into RFPs to improve Scope 3 data accuracy and steer procurement towards lower-carbon equipment. Targeted grid reinforcement, digitalisation and smart meters to cut technical losses, reducing emissions while enabling renewable integration and electrification. Contraction of gas sales through client electrification and portfolio optimisation. Accelerate the energy transition >90% 89% 2025 Renewable generation 8g CO2e/kWh (-95%) Scope 1 + Scope 2 intensity 51 gCO2e/kWh 2025 Net Zero by 2040 Focus on resilience Climate adaptation plans for infrastructure exposed to material climate risk Thermal generation Renewable generation Electricity retail Supply chain Networks power losses Gas retail Actions Targets 2026-2028 by 2030 (SBTi) vs. 2020 baseline 95% 2024 29 gCO2e/kWh 2024 vs vs
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ESRS-2.SBM-3 Impacts, risks and opportunities Material IRO Time Horizon IRO description Climate adaptation strategy Actual positive impact Upstream | Own operations - Climate adaptation plans ensure infrastructure resilience Climate physical risks - acute Risk Upstream |Own operations | Downstream Medium-Term Severe weather events pose risks to facilities, increasing costs and efficiency losses Climate physical risks - chronic Risk Upstream | Own operations | Downstream Long-Term Long-term climate changes threaten operations, causing damage and disruptions Greenhouse gas (GHG) emissions Actual negative impact Upstream | Own operations | Downstream - High GHG emissions from energy activities worsen climate change and environmental impact Climate mitigation strategy Actual positive impact Own operations - Climate mitigation strategies reduce GHG emissions Low carbon solutions Actual positive impact Upstream | Own operations - Investing in renewable energy and efficiency helps mitigate climate change and reduce reliance on fossil-fuels. Climate transition risks Risk Upstream | Own operations Medium-Term Depending on the nature, speed, and focus of these changes, transition risks may pose varying levels of financial and reputational risk Carbon pricing mechanisms Risk Upstream | Own operations Short-Term Risk of potential increases in operating costs due to higher prices for GHG emissions and potential reductions in the allocation of emission allowances Energy efficiency Opportunity Own operations | Downstream Short-Term Energy efficiency measures lower costs and improve environmental performance Energy from renewable sources Opportunity Own operations Short-Term Transitioning to renewable energy offers cost savings and reduces reliance on non-renewable sources EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 63
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E1.GOV-3 Climate governance EDP’s climate governance is embedded in its overall corporate governance model and ensures clear oversight, accountability, and integration of climate considerations into strategy, risk management, and decision-making. The framework combines Board-level supervision, Executive leadership, and operational execution, supported by dedicated committees, platforms, and business enablement functions. At Board level, the General Supervisory Board (GSB) holds oversight responsibility for EDP’s climate strategy, supported by dedicated committees with clearly defined roles: • Corporate Governance and Sustainability Committee: oversees strategic sustainability matters and monitors ESG and climate performance. • Financial Matters Committee: oversees sustainability-related policies and disclosures, and ensures the integration of climate considerations into the Group’s risk management and internal control systems. • Remuneration Committee: As part of its mandate to oversee the Group's compensation strategy, the Remuneration Committee is specifically responsible for defining, proposing, and assessing the sustainability and climate-related key performance indicators used in determining variable remuneration. • USA Business Affairs Monitoring Committee: oversees climate-related impacts on strategic planning, scenario analysis, Value@Risk, and energy transition dynamics in the United States. For further information on these committees, please refer to the Corporate Bodies and Committees chapter of the Corporate Governance & Remuneration section. Within this governance framework, the Remuneration Committee is responsible for proposing the remuneration policy and defining the sustainability and climate-related targets and KPIs applicable to the Executive Board of Directors (EBD), in accordance with the Remuneration Policy approved by the General Shareholders’ Meeting. Through its oversight role, the GSB, supported by the Corporate Governance and Sustainability Committee and the Financial Matters Committee, ensures that climate- related considerations are effectively integrated into executive remuneration. Executive variable remuneration includes both annual and long-term components, each incorporating explicit ESG and climate-related performance indicators, thereby aligning executive incentives with EDP’s climate strategy and decarbonisation objectives. Multi-annual executive remuneration includes climate-related KPIs representing approximately 13% of total compensation, namely total Scope 1 and 2 GHG emissions intensity reduction (as reported under E1-4) and the increase of share of renewable energy production. For more details on the Remuneration Policy, please see Remunerations chapter, parts A and B (Remuneration Policy applicable to EBD and governing bodies). These targets are operationalised through EDP's climate strategy. The EBD holds executive responsibility for defining, approving, and monitoring the Group’s climate strategy. The EBD is supported by dedicated executive committees, including the Sustainability Committee, which supports the development and implementation of corporate climate policies across business units, and the Risk Committee, which reviews policies and assesses key risks and exposure limits, including climate- related risks. At operational level, EDP’s climate governance is supported by Business Enablement Functions (BEFs), Platforms, and Regions, ensuring consistent execution of the Group’s climate strategy.The BEFs support the EBD by proposing and monitoring the Group's climate strategy through: • Investor Relations & ESG: monitor ESG and climate performance, oversee ESG strategy, and track the implementation of key sustainability initiatives supporting the climate strategy • Risk: defines and operates the integrated risk management framework, identifying, assessing, and monitoring climate-related risks affecting the Group’s strategy and performance • Strategy and M&A: support the EBD by aligning corporate strategy with climate objectives and integrating climate criteria into investment and M&A decisions. Platforms coordinate the implementation of sustainability priorities, while regions and business units identify, quantify, and implement climate risk mitigation and adaptation measures in line with Group policies and procedures. Together, this governance structure ensures that climate considerations are systematically embedded from strategic oversight to operational execution, supporting EDP’s decarbonisation pathway, resilience of assets, and alignment with evolving regulatory and market expectations. EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 64
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E1-1 | E1-7 | E1-8 Strategy (transition plan) Transition plan governance, goals and alignment with science EDP published its first Climate Transition Plan (CTP) in 2023, anticipating evolving regulatory and market expectations regarding credible, science-aligned decarbonisation pathways. The CTP was developed through internal cross-functional work led by the Net Zero Acceleration Taskforce, combining strategic, operational, financial and sustainability expertise. It builds on EDP’s long-standing decarbonisation track record and is embedded in the company’s overall business strategy and financial planning. From a governance perspective, the CTP follows EDP’s formal strategy and oversight processes. In 2023, the CTP was submitted to shareholders under a “Say on Climate” vote, receiving broad support and reinforcing accountability for execution. In 2025, the updated CTP and revised priority actions were submitted for Executive Board approval to ensure consistency with the new business plan cycle and inclusion in the Integrated Annual Report. The CTP is aligned with climate science through targets validated by the Science Based Targets i n i t i a t i v e ( S B T i ) i n 2 0 2 3 , c o n s i s t e n t w i t h a 1 . 5 º C p a t h w a y a n d a N e t Z e r o b y 2 0 4 0 a m b i t i o n f o r t h e p o w e r sector. These targets, that remain unchanged since their validation, include near-term 2030 targets and cover Scope 1, Scope 2 and relevant Scope 3 categories, ensuring that the transition plan addresses both direct emissions and value-chain impacts. They provide the reference framework against which the transition plan is designed, implemented and monitored.These targets, as well as their progress is detailed in the targets and metrics section. Identifying and financing the transition plan mitigation levers and actions The identification of the main decarbonisation levers is grounded in a detailed analysis of EDP’s emissions profile and operational footprint. This emissions mapping shows that the majority of EDP’s emissions originate from supply chain, thermal power generation, electricity sold to clients, natural gas retail, and losses in electricity distribution networks. As such, these represent the main levers of decarbonisation, complemented by renewable generation, and they target specific emission sources and scopes, ensuring coverage of the most relevant decarbonisation opportunities. For each lever, EDP defined a set of actions embedded with the company’s most recent Business Plan and financial strategy. The 2025 update reflects the 2026–28 Business Plan cycle and introduces enhanced quantification of emissions-reduction potential in absolute terms, clearer mapping of actions to regions and platforms, and disclosure of associated CapEx and OpEx where Business Plan detail exists. Some elements, such as full per-action financial disaggregation and emissions-reduction potential quantification and regional transposition, remain under development and will be refined in future reporting cycles. While the long-term ambition remains unchanged, the updated CTP places stronger emphasis on credible implementation and execution of actions within the Business Plan horizon. This will be detailed in the actions section, as well as the progress in the current year. The implementation of EDP’s CTP is underpinned by capital allocation decisions embedded in the Business Plan and reflected in the Group’s significant CapEx by economic activity. EDP's planned investment as presented in the 2026-28 Business Plan is directed towards activities that are aligned with the transition plan levers, notably: • Renewable power generation: approximately €7.5 billion of gross capital expenditure and approximately €0.8 billion of core OpEx planned for 2026–28 to deliver around 5 GW of new renewable capacity, supporting an increase in renewable output to keep renewables generation over 90% of total generation and contributing to reductions in Scope 1 and 2 emissions intensity, as well as to the decarbonisation of electricity supplied to clients • Electricity networks: approximately €3 billion of gross capital expenditure planned for 2026–28, supporting grid modernisation, reduction of technical losses, digitalisation and the integration of renewable generation, thereby contributing to Scope 2 emissions reductions and system efficiency • Client solutions and climate resilience (gas and electricity retail): targeted investments support electrification, EV charging infrastructure, solar distributed generation and renewable sourcing solutions for customers. While no standalone CapEx figure is defined at Group level for this area, these investments contribute to the reduction of Scope 3 emissions • Supply-chain: decarbonisation is primarily supported through procurement practices rather than dedicated capital expenditure. Contributions are embedded in renewable investment decisions, including supplier-specific emissions data, climate performance criteria in procurement and engagement with suppliers to reduce upstream emissions • Thermal generation: investments during the period are limited and do not support capacity expansion. No material growth CapEx is allocated to thermal generation; investments are restricted to maintaining operational integrity and assessing potential technology conversion options, consistent with the transitional role of these assets. These investments are consistent with the table on significant CapEx by economic activities disclosed below and demonstrate that EDP’s capital allocation is aligned with the execution of its Climate EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 65
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Transition Plan and long-term decarbonisation objectives. Furthermore, under the Commission Delegated Regulation 2021/2139, EDP has set the following target in the 2026-28 BP: more than 98% of CapEx in line with the EU Taxonomy. Significant CapEx UN 2025 2024 Coal-related economic activities m€ 0.1 0.4 Oil-related economic activities m€ 0.0 0.0 Gas-related economic activities m€ 6.4 37.5 EDP applies an internal carbon shadow price to assess the financial impacts of current and future carbon regulation on energy prices, sales volumes and asset valuation, and to support capital investment decisions in electricity generation. The internal carbon price is built by a range of values for different years (2030 to 2050, in 5- year intervals). These ranges are defined taking into account the values traded in the short-term CO2 futures market (EU ETS) and the values provided by various external sources (namely the IEA). EDP uses the average price per ton of CO2 in the EU-ETS in 2025 and the volume of licenses acquired, which can be obtained from Note 25 of the financial statements ("Inventories"). Beyond direct mitigation Beyond reducing its direct emissions, EDP addresses residual transition-related exposures, including potential locked-in emissions from flexible thermal assets and the limited role of carbon credits. These considerations are addressed in line with national decarbonisation pathways, evolving system needs, and the Group’s electrification-led transition strategy. Reflecting this alignment, EDP meets the minimum requirements of both the EU Climate Transition Benchmarks and the EU Paris-aligned Benchmarks, underscoring its position in the energy transition. Potential locked-in GHG emissions are mainly associated with natural gas, being it in the operation of combined-cycle gas turbine (CCGT) assets, which are retained as a flexibility and system adequacy solution during the transition, as reinforced in the 2026–28 Business Plan, or in the retail to clients. In this context, CCGTs are expected to operate with declining load factors and increased dispatchability, progressively shifting from baseload to flexibility, balancing and security-of-supply roles as renewable capacity and storage expand. This operating profile limits structural lock-in of emissions over the assets’ remaining technical life. Nevertheless, with coal generation at almost zero, residual emissions from CCGT operation are now the main trigger on decarbonisation targets. This risk is managed by closely monitoring the implementation of national decarbonisation and energy system plans in Portugal and Spain, which directly influence the expected role and utilisation of CCGT assets, and by continuing to support the progressive increase of renewable penetration in the system. Residual transition risks associated with locked-in emissions, including exposure to carbon pricing and changes in dispatch patterns, are considered in forward-looking planning and internal assessments. In parallel, emissions related to gas sales are addressed through EDP’s transition levers focused on client electrification, supporting demand-side decarbonisation and reducing reliance on fossil gas, with progress already ahead of the 2030 targets set in the Transition Plan. Regarding residual emissions, EDP follows SBTi's current Net Zero commitment, where residual emissions by 2040 will need to be address with carbon removals. Therefore carbon credits are not used to meet EDP’s GHG reduction targets or to compensate for emissions that can be technically and economically abated. At this stage, any potential use of carbon credits is evaluate in a long term strategy, with any use beyond the Net Zero commitment being subject to strict quality, integrity and governance criteria, following an ad-hoc, voluntary and beyond the value chain mitigation approach. Climate change adaptation EDP views climate adaptation and mitigation as two interconnected faces of effective climate action, and to manage the physical risks, EDP has developed a comprehensive approach. Integrating climate adaptation directly into the business model, ensuring that long-term resilience and short-term operational readiness are balanced to protect assets and service continuity. EDP's adaptation approach is built upon five foundational "Adaptation building blocks", and five time- frame responses that define the areas of intervention. Preparedness Deploy forecasting and early warning systems to mitigate impacts before events occur. Operational Reorganise teams and workflows for agile response without physical asset modification. Planning & prevention Implement preventive measures and proactive planning to eliminate infrastructure impacts. Engineering & NbS Modify assets physically and integrate Nature-based Solutions to improve resilience. Timeframe and operational clusters Time-response Adaptation building blocks Timeframe Description Categories Description EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 66
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Response Utilise contingency measures and alternative resources to reduce damage during extreme events. Digitalisation Use digital tools for real-time monitoring, prediction, and automated mitigation. Recovery Rebuild post-event using "build back better" principles to improve future resilience. R&D Collaborate with academia to develop innovative technical solutions for climate resilience. Resilience Execute structural changes to ensure long-term asset stability against climate stressor Advocacy & markets Partner with stakeholders to implement opportunity-driven strategic adaptation solutions. Timeframe and operational clusters Time-response Adaptation building blocks Timeframe Description Categories Description The early integration of climate risk assessments during the planning and design phases of new projects are prioritised, as this is significantly more cost-effective than retrofitting, reflecting avoided losses in property damage, operational disruptions, and insurance expenses. For additional information see EDP Climate Adaptation and Resilience Report. ESRS-2.SBM-3 | E1.SBM-3 | E1.IRO-1 Resilience analysis Climate change represents one of the most significant challenges for the energy sector gives rise to material impacts, risks and opportunities that originate directly from EDP’s integrated energy business model and span upstream, direct and downstream activities. It directly covers the company’s own operations and indirectly the upstream and downstream value chain, identifying and quantifying risks, where the quantification relates specifically to the company’s own operations, whenever they meet the previously defined criteria. It currently covers electricity generation, electricity networks and client solutions activities, in Iberia, Brazil and North America (covering EDP Group's subsidiaries EDP Produção, E-Redes, EDP Comercial, EDP Spain, EDPR, and EDP Brasil). It is within this scope that the EDP Group’s resilience analysis is conducted, aligning with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). EDP has in place an internal climate risk management governance model, integrated into the global risk management process, to annually review and report on the resilience of the Group's strategy to climate change. EDP conducts an annual climate risk assessment process which is structured in three distinct phases: • Risk identification, that guarantees the exhaustive identification of physical and transitions risks and opportunities in each business and main geographies, in line with TCFD recommendations • Climate scenario alignment, that includes the validation and updating of the physical and transition sub-scenarios, as well as the main climate variables (physical and transition); and finally • Risk quantification and Climate Value@Risk aggregation, that aggregates the quantification of the most relevant climate-related risks and opportunities of each business/ geography (i.e., with an impact on EBITDA of over €1m). Risk identification & strategic link EDP identifies climate-related impacts, risks and opportunities through an integrated, group-wide risk management process and double materiality assessment. The process, conducted annually and updated as needed, starts with the mapping of EDP’s value chain (upstream, own operations and downstream), assessing policy, market, technology and reputational drivers, to identify actual and potential climate-related impacts, with a specific focus on greenhouse gas (GHG) emissions across Scopes 1, 2 and 3, which represent EDP’s main negative impact on climate change. This assessment is grounded in a full GHG inventory prepared annually in accordance with the GHG Protocol and aligned with SBTi methodologies, as disclosed in the subsection GHG emissions. The identification of climate impacts is complemented by the systematic assessment of climate-related physical and transition risks and opportunities, following TCFD-aligned processes. The EDP Group has three specific climate risk and opportunity taxonomies, integrated into the corporate risk taxonomy, and aligned with the structure recommended by TCFD that need to be validated and updated regularly. EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 67
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EDP is mostly affected by the following physical and transition risks: Physical risks Main impact Chronic Temperature increase Rise of energy losses Loss of efficiency Demand increase Water availability Reduction of hydro generation Acute Extreme temperatures Unpredictability of consumption Loss of efficiency Malfunctioning turbines and panels Extremes events (wind/rain) Disruptions of activities (production and networks) Increase operating costs Damage to assets (distribution networks, production)Wildfire Main impact Regulatory and legal Increase exposure to environmental litigation Changes in product regulation Market Loss of revenue due to new competitors Effect of additional environmental measures on market price variables Technological Failure to follow up/delay in adopting new technologies Devaluation/replacement of assets due to technological obsolescence Reputational Stakeholders’ concerns regarding the company's path to climate transition Implementation failures of environmental measures or market positioning regarding the new climate reality Transition risks The results of this process inform EDP’s Climate Transition Plan, including the definition of decarbonisation levers, targets and actions to mitigate its climate impacts, notably the reduction of absolute and intensity-based GHG emissions, the phase-out of coal, the limitation of gas-fired generation, the expansion of renewable generation, and the reduction of emissions associated with electricity and gas sold to customers. This can be further explored in the sections targets and metrics and actions. EDP has identified assets and activities that are incompatible, or potentially incompatible, with the transition to a climate-neutral economy. Coal-fired generation assets have been classified as incompatible, with EDP already having decommissioned or deconsolidated most of it thermal assets, having now close to zero (0.7% in 2025) weight of coal fired generation in its electricity generation mix. Gas-fired assets are recognised as transition-sensitive and are managed with a limited and clearly defined role focused on system flexibility, subject to ongoing reassessment in line with decarbonisation pathways. These considerations are explicitly reflected in the Climate Transition Plan and strategic levers. Climate scenarios & methodological alignment To test resilience to climate change, the EDP Group has built three different scenarios that integrate physical and transition scenarios. EDP employs a detailed and robust approach to scenario analysis, incorporating various key inputs and constraints. The scenarios are built from reference scenarios provided by reputable sources such as Baringa, AFRY, Aurora, IHS, and S&P, and are designed to reflect a range of possible futures, including both optimistic and pessimistic outcomes. This comprehensive approach ensures that EDP can capture the full spectrum of potential risks and opportunities. One of the primary inputs in EDP's scenario analysis is the integration of the International Energy Agency's (IEA) Net Zero Emissions by 2050 Scenario (NZE). This scenario is used to evaluate the impact on EDP's business portfolio, considering the company's Business Plan. Internal assumptions are also employed for demand forecasts and taxation, ensuring that the analysis is tailored to EDP's specific context and strategic objectives. The scenario analysis and stress tests are performed against the current Over the Counter (OTC) scenario, providing a benchmark for comparison. The rationale for choosing these scenarios is based on their ability to provide a comprehensive assessment of climate-related physical risks and opportunities. EDP uses the Intergovernmental Panel on Climate Change (IPCC) scenarios, including RCP 8.5, RCP 4.5, and RCP 2.6, to identify the most relevant chronic and acute risks and evaluate potential impacts. This approach ensures that EDP's scenario analysis is grounded in scientifically robust and widely accepted projections. Furthermore, the scenarios consider macro and microeconomic factors, such as domestic growth and globalising markets, which influence the broader economic context in which EDP operates. The central scenario, for instance, represents substantial progress in renewable power, accounting for three- quarters of European electricity supply by 2050. However, it acknowledges that this progress may not be sufficient to achieve Net Zero emissions in the energy system by that time, highlighting the need for continued efforts and innovation. Therefore, a narrative was constructed for each scenario, based on the RCP (Representative Concentration Pathway) scenarios of the IPCC for the analysis of physical risks, and on the IEA scenarios, with some internal adjustments to better reflect EDP reality, for the analysis of transition risks. EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 68
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The aggregate scenarios used for quantifying the risks and opportunities are the following: AGG (As green as it gets) RCP 2.6: considers (1) compliance with the Paris Agreement; (2) that the energy system reaches carbon neutrality by 2070; (3) that the temperature r i s e s b e t w e e n 1 . 5 º C a n d 2 º C ; a n d ( 4 ) t h a t t h e average sea level rises by 0.4m and ocean acidification begins to recover by 2050 Net Zero Emissions by 2050 Scenario (NZE) with internal adjustments: considers (1) the global energy sector reaching net zero CO2 emissions by 2050; (2) economic growth and job creation related to sustainable energy; (3) a more resilient and cleaner energy BGT (A bit greener than today) RCP 4.5: considers that (1) the Paris Agreement is n o t f u l f i l l e d ; ( 2 ) t h e t e m p e r a t u r e r i s e s b e t w e e n 2 º C a n d 3 º C a n d e x t r e m e t e m p e r a t u r e s b e c o m e m o r e frequent; and (3) the sea level rises by 0.5m and many species are unable to adapt Base scenario: assumes that (1) the announced policies are generally complied with, and no additional effort is made towards sustainable development; and (2) policies, albeit limited, are adopted to reduce the use of fossil fuels, but demand is still high SMT (Slow move to transition) RCP 8.5: considers that (1) the Paris Agreement is not fulfilled; (2) the temperature rises by more than 3°C; (3) extreme events become more frequent and there are large variations in rainfall; and (4) the sea level rises by 0.7 metres Climate scenarios Physical scenarios Transition scenarios The physical scenarios, consisting of physical risks and opportunities, result from long-term climate change, either by (1) chronic risks derived from structural changes in climate patterns; or (2) acute risks due to an increase in extreme meteorological phenomena, with impact on the increased frequency and/ or severity of extreme events. The physical variables or parameters that were considered are identified below. EDP uses climate scenarios aligned with a 1.5°C Net Zero trajectory, consistent with SBTi and IEA pathways, which are embedded in its Climate Transition Plan and operationalised through the 2026– 2028 Business Plan. These scenarios inform the key assumptions used in financial planning and reporting, including capital allocation, asset portfolio evolution and risk management. In particular, assumptions on the phase-out of coal, the limited long-term role of gas, declining thermal load factors, increasing renewable penetration and exposure to carbon pricing are reflected in investment prioritisation and asset rotation. CapEx is structurally directed towards renewables, networks, storage and flexibility solutions, ensuring consistency between climate scenarios and the assumptions applied in the financial statements. This alignment is reviewed at each Business Plan cycle. Risk Category Risk Variable Chronic Temperature increase Average temperature rise Sea level rise Rise of sea level Water availability Average precipitation variation Average days with rainfall <1mm var Wind availability Average wind speed Acute Extreme hot days D a y s w / t e m p e r a t u r e > 3 5 º C Extremely consecutive hot days C o n s e c u t i v e d a y s w / t e m p e r a t u r e > 3 5 º C Extreme cold days D a y s w / t e m p e r a t u r e < 0 º C Extremely consecutive cold days C o n s e c u t i v e d a y s w / t e m p e r a t u r e < 0 º C Extreme wind/ rain events Extreme events per year Extreme wildfire events Wildfires per 100ha Physical risks The evolution of the physical variables was provided by a specialised external consultant, using the Copernicus database and other international databases. Transition variables, unlike physical variables, do not assume an evolution easy to measure, with the exception of market risk variables (prices, foreign exchange, generation,...), and are based on the following narratives: • Net Zero Emissions by 2050 scenario (NZE): is planned to maximise technical feasibility, cost effectiveness and social acceptance while ensuring continued economic growth and a secure energy supply. It is a normative IEA pathway towards a net zero CO2 emissions in the global energy sector by 2050, with developed economies meeting the goal before others. This way, limiting the long-term increase in average global temperatures to 1.5°C. To reach its goals, the NZE is not dependent on emissions reductions from outside the energy sector. Instead of the current dependence on fossil fuels, the energy sector will be based on renewable energy sources. In 2050 we will have an economy more than twice as big and 2 billion citizens more than of today, nevertheless, energy demand is expected to be around 8% smaller • Base scenario: is built from reference scenarios of Baringa Q3 2021, AFRY Q4 2021, Aurora Q1 2022, IHS Feb 2022 and S&P Marc 2022. In a context of expanding global economy and population, this scenario represents a substantial progress as renewable power accounts for three quarters of EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 69
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European electricity supply by 2050 (almost two times the current levels). However, it will not be enough to reach the Net Zero emissions in the energy system by that time. In the end, it results in a largely (but not fully) decarbonised Europe by 2050, specially when considering the possible contribution from other sectors which are more difficult to decarbonise such as industry, buildings and agriculture. Transition risks Variable Prices CO2, Electricity price Foreign exchange EUR/USD, EUR/BRL Generation mix Hydro, Thermal, CHP, Nuclear, Wind, Solar Renewable adjustment factors WAF, SAF Electricity demand The transition variables, namely the evolution of prices, energy demand and energy mix, are based on scenarios from the IEA and other international sources (e.g., Aurora, Baringa, among others), with the necessary adaptations to the countries where EDP is present. As the reference scenarios (IEA, Baringa, AFRY, Aurora, IHS and S&P) do not have specific data for Portugal and Spain, some internal adjustments were considered to reflect EDP’s specific geographies, namely installed capacity, generation mix, energy demand, among others. The assessment of each material risk is done according to 3-time horizons (0-1 years, 2-5 and 6-25 years) and under 3 different climate scenarios. The exercise is consolidated at Group level, by Platform and by business area. • Short-term (0-1 years): This timeframe (2025-2026) encompasses EDP’s Business Plan time horizon, in which EDP presents its commitments for the period. It allows to anticipate the most immediate consequences of possible transition risks and opportunities. • Medium-term (2-5 years): This timeframe corresponds to the 2027-2030 period, for which EDP has several energy transition targets defined. It allows to anticipate possible transition risks and opportunities – namely how governments can structure viable roadmaps towards carbon neutrality (policies and regulation) and the role companies such as EDP can play in supporting this transition with the knowledge and the technology required to deliver these roadmaps, under certain economic conditions – as well as it can also foresee possible physical risks and opportunities, with an impact on the company’s strategy. • Long-term (6-25 years): This timeframe (2031-2050) is in line with the global objective set by the Paris Agreement to control unprecedented climate change effects by limiting global warming to below 2°C and pursuing efforts to limit it to 1.5°C, in the second half of the century. It foresees long- term structural risks and opportunities for the company. For the physical risks and opportunities, the main driver is resilience. Anticipate and adapt to what can be the consequences of structural changes in climate patterns, such as chronic physical impacts which are not immediate and can only be truly assessed in the long-term. As physical risks require a long-term analysis to identify any structural change in their pattern or frequency/severity of occurrence, the focus of the physical risks and opportunities analysis is from 2030 to 2050. For example, extreme weather events, which are most relevant in the mid to long term, are assessed considering the estimate of average and maximum financial impacts of historical damage to generation assets or distribution networks, based on the impacts experienced from historical events within EDP Produção, E-REDES, EDP Comercial, EDP Spain, EDPR, and EDP Brasil. According with the data, provided by an external consultant and based on Copernicus data source, the increase of the number of days subjected to extreme weather events (wind and precipitation) for 2030 is around +5 to +10 days in Portugal, +5 to +15 days in Spain and +5 to +10 days in Brazil (country average), and for 2050 is around +5 to +15 days in Portugal, +5 to +20 days in Spain and +5 to +15 days in Brazil (country average), depending on the RCP scenario and considering both average and worst case scenario (P95%). Extreme events impact EDP increasing operational costs and reducing sales (in case of generation assets). EDP states that short/mid-term risks are mostly related to transition risks. These include energy market design, prices, regulatory framework, and technological development. An example of transition risk may surge from decarbonisation and joint efforts for a cleaner economy that already introduced some legal and regulatory additional requirements to fulfil international commitments. As time goes by, it is expected a tightening of requirements, introducing more restrictive measures (incl. to renewable generation) and increasing exposure to litigation (i.e., leading to additional costs related with possible fines and other legal costs as well as higher compliance costs). EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 70
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Risk quantification Climate risks and opportunities with a material impact (over €1m) are periodically calculated based on the analysis of the impact on EBITDA and reported by each business/geography and duly aggregated through a Climate Value@Risk (considering a set of assumptions of correlation between risks and opportunities). This quantification considers the identification of the physical variables and their evolution according to the experts, and the political/social/economic/technological narratives related to the different scenarios. The quantification method depends on each risk and opportunity using, whenever possible, the direct method (expected loss/gain and maximum loss/gain at P95%) or, alternatively, the indirect method (probability/frequency, average impact and maximum impact at P95%). For the purposes of the Group's analysis, the consolidation of losses and gains is carried out considering correlations among risks and opportunities and among geographies. This quantification process has associated uncertainties taking in consideration the described assumptions used in the methodology. The following table shows, for 2030-2050 period, the potential average annual impact on the EDP Group of the relevant physical risks (maximum loss P95%) and opportunities (minimum gain P5%) (chronic and acute), considering the physical scenarios RCP 2.6 (integrated in AGG scenario) and RCP 8.5 (integrated in SMT scenario) and relating them to the mitigation measures in place. Physical Risks Main Impact Business area Quantification Mitigation measures €0-€50m €50m-€100m >€100m Chronic Temperature increase Rise of energy losses Loss of efficiency Demand increase EDP Group AGG: Opportunity & Risk SMT: Opportunity & Risk Natural mitigation, i.e., an increase in temperature will result in an increase in demand. In addition, EDP Group has an integrated energy risk management and follows a strategy of diversification by business area and geography Water availability Reduction of hydro generation Hydro generation AGG: Risk SMT: Risk Strategy of diversification by technology, business area and geography Acute Extreme temperatures Unpredictability of consumption Loss of efficiency Malfunctioning turbines and panels Client Solutions EDPR AGG: Opportunity & Risk SMT: Opportunity & Risk Energy risk management to cover potential generation outages and a strategy of diversification by technology, business area and geography Extremes events (wind/rain) Disruptions of activities (production and networks) Increase operating costs Damage to assets (distribution networks, production) EDP Group AGG: Risk SMT: Risk Preventive maintenance of protection strips on distribution lines, a comprehensive insurance plan and EDP Group has also been strengthening business continuity and crisis management plans, minimising the impact on business and third partiesWildfire EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 71
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Assuming the transition variables evolve for the different time horizons (2025 and 2030) and the different transition scenarios (NZE and Base case), the Business Partners assess and quantify the impact of those changes in their businesses, i.e., the exposure to transition events that impact its business, and which is reported in the table below. For example, the increase in environmental litigation scrutiny is calculated assuming historical data of costs aggravated by +0.05% vs. Base case for each time horizon analysed, as proxy for more rigorous environmental regulation. Transition Risks Main Impact Business area Quantification Mitigation measures €0-€50m €50m-€100m >€100m Regulatory and legal Increase exposure to environmental litigation EDP Group (mainly EDPR) AGG: Risk SMT: Risk Strategy of diversification by technology, business area and geography, asset maturity, as well as through a close monitoring of government regulation and policiesChanges in product regulation Market Loss of revenue due to new competitors EDP Group (mainly Generation and EDPR) AGG: Risk SMT: Risk Focus on the electrification of the economy (through energy services, EVs, among others) as an offsetting strategyEffect of additional environmental measures on market price variables Technological Failure to follow up/delay in adopting new technologies EDP Group (mainly Generation and EDPR) AGG: Risk SMT: Risk Close monitoring of market trends, technological development (including emerging technologies across value chain) together with a clear Innovation Policy focused on the main trends in the sector Devaluation/replacement of assets due to technological obsolescence Reputational Stakeholders’ concerns regarding the company's path to climate transition EDP Group AGG: Risk SMT: Risk Electricity sector has traditionally been seen as a net contributor to climate change. In a paradigm shift, the group is strengthening its renewable portfolio, and is committed to attaining 100% renewable capacity by 2030. At the same time, it is recognised for its excellent performance in the various sustainability indexes of which it forms part, demonstrating its sustainable character and providing evidence of adopted measures and strategies Implementation failures of environmental measures or market positioning regarding the new climate reality Transition Opportunities Main Impact Business area Quantification €0-€50m €50m-€100m >€100m Energy sources Use of incentive policies for renewable production EDP Group AGG: Opportunity SMT: OpportunityExplore new green energy sources Products & Services Greater electrification leading to increased energy demand EDP Group AGG: Opportunity SMT: OpportunityHigher need for heating and cooling due to physical risks EDP Group Resource efficiency Use of more efficient means of transport and consequent increase in installed capacity EDP Group AGG: Opportunity SMT: Opportunity Market Access to new markets and consequent increase in installed capacity EDP Group AGG: Opportunity SMT: Opportunity Resilience Increase supply chain reliability EDP Group AGG: Opportunity SMT: Opportunity EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 72
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According to the results of the climate risks assessment, the EDP Group demonstrates a resilient portfolio in both the RCP 2.6 + NZE (integrated into the AGG scenario) and the RCP 8.5 + Base scenario (integrated into the SMT scenario). Nonetheless, the exercise enabled the identification of the most relevant risks, which informed EDP's adaptation plans for assets that are more exposed. Regarding climate change mitigation, EDP put in place since 2023 its Climate Transition Plan, aligned with TCFD on governance, strategy, risk management and targets and metrics. This plan details what are EDP's decarbonisation targets, that were approved by SBTi, and what are the levers and actions to mitigate emissions towards those targets. Additionally, the EDP Group has climate change adaptation plans in place in its business units to ensure the resilience of infrastructure that may be exposed to extreme events of greater intensity and frequency, compared to reality as we know it today. The EDP Group has already contracted a climate analytics tool and are currently updating its climate risk assessment by integrating and reflecting the tool’s outputs. The assessment is conducted at asset l e v e l a n d e x p a n d e d a c r o s s m u l t i p l e g e o g r a p h i e s , e n s u r i n g a m o r e r o b u s t , c o n s i s t e n t , a n d d a t a - d r i v e n evaluation across the Group. Resilience conclusions EDP’s operations result in actual greenhouse gas emissions, constituting a material negative climate impact, while climate mitigation strategies, low-carbon solutions and climate adaptation strategies generate positive impacts by reducing emissions, lowering reliance on fossil fuels and strengthening infrastructure resilience. Physical climate risks affect EDP’s assets through acute events such as severe weather, which can disrupt operations and increase costs in the medium term, and through chronic changes in climate patterns, including temperature and hydrological shifts, which may impair asset performance and reliability over the long term. In parallel, transition risks arise from the pace and design of the energy transition, including regulatory and market changes, with carbon pricing mechanisms posing short-term risks of higher operating costs for activities with residual emissions exposure. At the same time, material opportunities arise from energy efficiency measures that reduce costs and improve environmental performance, as well as from the expansion of energy generation from renewable sources, which supports decarbonisation and reduces dependence on non-renewable energy. These impacts, risks and opportunities are embedded within EDP’s strategy. They directly influence capital allocation, portfolio evolution and investment priorities, reinforcing the focus on renewable generation, electricity networks, flexibility solutions and efficiency measures, while EDP transitions away thermal generation. EDP’s response to these dynamics is integrated into its strategic planning, risk management and Climate Transition Plan, ensuring that climate-related considerations systematically inform decision-making and support the resilience of its business model over time. EDP’s strategy and business model demonstrate resilience to climate change by addressing the material impacts, risks and opportunities identified across its energy value chain. Resilience is underpinned by the progressive reduction of greenhouse gas emissions through climate mitigation strategies and low-carbon solutions, combined with the implementation of climate adaptation plans for infrastructure exposed to material climate risks. Physical climate risks, both acute and chronic, are mitigated through diversified geographic and technological exposure, and targeted investments in networks, flexibility and digitalisation, reducing vulnerability to severe weather events and long-term climate shifts. At the same time, EDP’s strategic positioning allows it to adapt to transition risks arising from regulatory, market and policy developments, including exposure to carbon pricing mechanisms, by prioritising regulated and long-term contracted activities, disciplined capital allocation and portfolio optimisation. The business model is further strengthened by capturing climate-related opportunities linked to energy efficiency and the expansion of renewable energy sources, which contribute to cost optimisation, emissions reduction and reduced reliance on non-renewable energy. Together, these elements support the robustness of EDP’s strategy under different climate scenarios, preserving operational continuity, financial stability and long-term value creation in a climate- constrained environment. E1.MDR-P | E1-2 Policies To support the management of material impacts, risks and opportunities related to climate change mitigation and adaptation, EDP has in place policies and practices to prevent, mitigate and remediate actual and potential impacts, address risks and pursue opportunities: Environmental policy Establishes EDP's vision and commitments regarding the management of nature-related issues, the guiding principles for the continuous improvement of performance in nature protection, in the short and EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 73
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long term, and the basis for defining objectives and targets for the EDP Group considering the expectations of stakeholders (climate, nature, circular economy). The Environmental policy applies to companies fully owned, directly, or indirectly, by the EDP Group and to companies in which EDP is in a dominant relationship within the limits established in the binding instructions and in the policies and procedures in force. The Environmental policy is also applicable to entities that provide services at EDP facilities and infrastructures or on behalf of and representing the companies that make up the EDP Group. EDP will also promote the application of the principles of this policy among other participants in the value chain, namely suppliers, joint ventures, customers, or other partners. The General Supervisory Board monitors and appreciate issues related to sustainability and respective compliance. The Executive Board of Directors approves the Environment policy and its successive revisions. IR&ESG defines and proposes revisions and is responsible for monitoring the implementation of the Policy at the Group level, as well as proposing any revisions. External references for the implementation of the Environmental policy are the UNFCCC Paris Agreement, ISO 14001:2015; ISO 26000:2010; OECD (2011), OECD Guidelines for Multinational Enterprises; Sustainable Development Goals - United Nations 2030 Agenda; The Ten Principles of the UN Global Compact; UN (2022), Kunming-Montreal Global Biodiversity Framework. EDP commits to consult the main stakeholders, in particular, local communities and indigenous people and consider their relevant expectations in the implementation of the Environmental policy. The Environment Policy was revised and updated in January 2026 with main changes related to: • Responsibilities aligned with the new internal operating model • External context included to support commitments • Semantics revised for better alignment with the Corporate Sustainability Reporting Directive and the Corporate Due Diligence Directive on Sustainability. Based on the Group’s strategic priorities, the updated Environment policy aligns with updated commitments related to climate mitigation and adaptation, in a Net Zero pathway, as follows: Mitigation • Increasing its installed capacity and production from renewable energy sources • Reducing direct and indirect greenhouse gas emissions, in a decarbonisation pathway aligned with recognised Net Zero power sector standards • Promoting the reduction of emission in the supply chain, ensuring alignment with the Group climate objectives • Providing low-carbon energy solutions, promoting the electrification of consumption • Improving energy efficiency in its own operations, enhancing the portfolio of energy-efficient products and services offered to customers, and enabling access to energy-efficiency solutions for vulnerable communities. Adaptation • Assessing the level of exposure of its assets to physical climate risks, considering different time horizons and climate scenarios • Promoting the adaptation of its assets to climate change and increasing its resilience. Climate transition plan Sets the baseline of EDP's Group decarbonisation strategy towards a Net Zero goal by 2040 translated into climate metrics and targets, the strategic levers and actions identified to align implementation with the overall climate commitments and describes the overall climate governance in place. The scope of the Climate transition plan is organisation wide, tackling sources of emissions from the different platforms and regions. The identification of the main decarbonisation levers is grounded in a detailed analysis of EDP’s emissions profile and operational footprint. This emissions mapping shows that the majority of EDP’s emissions originate from supply chain, thermal power generation, electricity sold to clients, natural gas retail, and losses in electricity distribution networks. As such, these represent the main levers of decarbonisation, complemented by renewable generation, and they target specific emission sources and scopes, ensuring coverage of the most relevant decarbonisation opportunities. Without changing its climate targets adopted in 2023 under the business plan 23-26 aiming to reduce in an absolute term its CO2 emissions by 90% against 2020 base year, including Scope 1, 2 and 3, EDP approved in 2025 an update version of the Climate transition plan to align levers and priority actions with the new business plan cycle of 2026-2028, under a broader pathway for a Net Zero goal in 2040. The climate transition is intrinsic to EDP's business, with an internal governance model established to ensure a resilient climate strategy, its effective implementation and a monitoring system capable of EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 74
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tracking performance efficiently. In this regard, the General and Supervisory Board supervises the implementation of EDP's climate strategy through its Corporate Governance and Sustainability Committee, which is responsible for discussing ESG topics between three and four times a year, with Climate being at the top of this agenda. IR&ESG defines and proposes revisions is responsible for monitoring the implementation of the CTP at the group level, as well as proposing any revisions. The Executive Board of Directors (EBD) holds executive responsibility for defining, approving, and monitoring the Climate Transition Plan. The EBD is supported by dedicated executive committees, including the Sustainability Committee, which supports the development and implementation of corporate climate policies across business units, and the Risk Committee, which reviews policies and assesses key risks and exposure limits, including climate-related risks. Standards that EDP is committed to respect in the implementation of the CTP include TCFD Guidance on Metrics, Targets and Transition Plans; GHG Protocol Corporate Accounting and Reporting Standard; SBTi Net-Zero Standard. Progress is also tracked against internationally recognised frameworks and regulations such as CDP, SFDR, GRI Standards, SASB, TCFD and the EDP Green Finance Framework (per ICMA GBP 2021, LMA GLP 2021 rules and EU Taxonomy), beyond the CSRD/ESRS. Supplier code of conduct D e f i n e s m a n d a t o r y e n v i r o n m e n t a l , t r a c e a b i l i t y a n d d u e - d i l i g e n c e r e q u i r e m e n t s a p p l i c a b l e t o a l l suppliers and subcontractors within the Group, including: i. Climate mitigation • Account and either publicly disclose, and / or provide a third-party verification of their GHG emissions • Address greenhouse gas emissions reductions through actions and / or targets preferably in line with the Paris Agreement’s 1.5-degree scenario, that, when applicable, can contribute to EDP’s CO2 emission reduction targets. ii. Climate adaptation • Address their climate change risks and act accordingly by developing climate adaptation plans and improving the resilience of its operations. Suppliers must ensure that these standards are upheld throughout their own supply chains. This code applies to suppliers, suppliers’ subsidiaries, affiliates, subcontractors, and sub-tier suppliers that supply or intend to supply goods or services to any company within the EDP Group, which includes all entities in a control or group relationship with EDP. This policy includes all activities of EDP and its subsidiaries, as well as entities providing services on behalf of EDP. The revision of the Supplier code of conduct was approved by Executive Board of Directors on 12/06/2025 within its executive responsibilities. Climate adaptation and resilience report 2025 Details EDP's Group practices for ensuring a resilient business under the present and future vulnerabilities of climate change. It covers the global context, management approach and selected best practices and learning lessons. A planned, risk-informed approach guides the prioritisation of adaptation measures—from strategic decisions to initiatives at the asset level. For each identified material risk and potential impact, actions range from strengthening monitoring tools and forecasting capabilities to modernising or redesigning infrastructures to withstand future climate conditions. These responses are shaped both by experience and by the continuous search for innovative, forward-looking solutions. The report describes a set of internal practices that are being implemented across EDP Group and clustered according to EDP’s approach to adaptation, considering: • Time-response approach: implementation timing and contribution to asset resilience • EDP's adaptation building blocks: solutions’ expertise and focus on the type of intervention - structural, technological, or procedural - and the needed resources. Together, these two categories provide a comprehensive framework for assessing, planning and implementing climate adaptation actions tailored to different contexts and types of infrastructure. EDP’s climate change adaptation governance model is aligned with its broader sustainability governance framework, ensuring a resilient climate strategy, effective implementation, and efficient performance monitoring, with the Risk and Business Continuity areas playing an active role in this process. Oversight of the climate strategy is provided by the General and Supervisory Board through the Corporate Governance and Sustainability Committee, which regularly engages with the Executive Board of Directors on ESG matters, with climate being a top priority. EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 75
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The strategy itself is developed by the IR&ESG team, with the Global Risk Office conducting comprehensive climate risk assessments, and the Business Continuity team ensuring the existence of robust response and recovery plans for climate-related disruptions. At the operational level, each business unit - across technologies and regions - is responsible for implementing climate adaptation measures tailored to their specific geographic contexts. E1.MDR-A | E1-3 Actions EDP’s climate transition is operationalised through a defined set of decarbonisation levers and underlying actions, covering own operations and the value chain. The detailed description of levers and actions, their implementation status, monitoring approach, financial linkage, and key dependencies is presented in a dedicated table within this chapter. Also, more details regarding levers and actions financials can be found in the Strategy (Transition Plan) section, under identifying and financing the transition plan levers and actions. The implementation of EDP’s mitigation actions is primarily dependent on the availability, timing and allocation of financial, human and technological resources embedded in the Group’s Business Plan and operating model. Financing of these actions is secured through a combination of operating cash flows, asset rotation proceeds and sustainable finance instruments, notably green bonds, complemented where applicable by project finance and tax equity structures. Climate actions are executed through core business activities and rely on capital allocation decisions approved under the 2026–28 BP, which prioritises renewable generation, electricity networks, flexibility solutions and enabling digital investments. Delivery is further supported by internal capabilities and is influenced by external conditions such as permitting, grid access, regulatory frameworks and supply chain capacity. The CapEx and OpEx required to implement climate actions are fully integrated into the Group’s financial statements. Climate related CapEx1 is mainly reflected in investments in property, plant and equipment corresponding to renewable generation, networks, storage and digitalisation assets. Climate related OpEx2 is included within operating costs, notably for asset operation and maintenance, network efficiency measures, digital tools, procurement processes and climate risk management activities. These investments and operating expenditures are directly linked to the EU Taxonomy KPIs disclosed under Commission Delegated Regulation (EU) 2021/2178. Climate mitigation actions primarily contribute to taxonomy-eligible and taxonomy-aligned CapEx and, where applicable, OpEx, notably for activities related to renewable electricity generation, electricity transmission and distribution, storage and enabling technologies. The 2026–28 BP CapEx plan constitutes the financial backbone of the Climate Transition Plan. Climate mitigation actions are therefore implemented through the same investment envelopes disclosed under the EU Taxonomy, ensuring consistency between the transition plan, financial planning and regulatory disclosures. No separate climate-specific CapEx plan is maintained, as the transition plan is embedded in the Group’s overall investment strategy. The climate mitigation levers and actions contribute with emissions reductions in direct correlation with EDP's Net Zero targets approved by SBTi. Thus, the effectiveness of these levers and actions in not only assessed by how much emission reductions are associated to them, but also from the progress on target achievement. For more details on this, please see the targets table. EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 76 1 Refer to the financial statements and notes: note 16 “Property, plant and equipment”, note 18 “Intangible assets” and note 50 “Operating segments”, Table “Reconciliation of information between Operating Segments and Financial Statements for 31 December 2025“, item “Total Operating Investment of EDP Group“. 2 Refer to financial statement items of the note 9 "Supplies and services": “Maintenance and repairs”, part of the items “Travelling and communications” and “Specialised works”.
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EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 77 Main sources of emissions Total 2020 emissions Total 2025 emissions Main decarbonisation levers by 2028 MtCO2e % total MtCO2e %total Thermal generation Upstream and fuel combustion from power generation (coal and natural gas) 11.1 57% 84% + 16% 4.0 39% 74% + 26% Authorisation request to close Los Barrios and Soto III Electricity retail Emissions from the electricity purchased to sell to clients 2.4 12% 3.6 35% Increasing renewable electricity sourcing for clients Supply chain Procurement, including materials, assembly, services, etc. (incl. wind turbines and solar modules) 3.0 15% 1.5 15% Decreasing carbon footprint per MW installed Gas retail Emissions from the combustion of natural gas sold to clients 2.4 12% 0.6 6% Reducing the natural gas sold to clients Networks power losses Emissions from power losses in distribution networks 0.6 3% 0.3 3% Limiting network losses Others Fleet, SF6, electricity and gas consumption in buildings, business travel, commuting, waste and transport 0.1 1% 47% + 53% 0.1 1% 63% + 37% 19.5 10.1 Scopes 1+2 Scope 3
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Reducing thermal generation emissions Near 0 coal-fired generation 2020-2025 Own operations EDP is phasing-out coal, demonstrating a firm commitment to accelerate the energy transition, moving from 80% thermal generation to over 90% renewable generation in 20 years. Scope 1 + 2 [intensity]; All sold electricity Scope 1; Scope 3 Cat. 3; Scope 3 Cat. 15 RGA | Iberia Not defined in the scope of the BP Iberian power system & Market design (need for CCGTs for security of supply) By 2030: ~ 8 MtCO2e By 2040: ~ 8.3 MtCO2e 7.1 MtCO2e Asset-by-asset closure and conversion: Pecém fully divested (80% in Dec-2023; remaining 20% in Jul-2025); Aboño transitioned through a 50/50 partnership with Masaveu, with Aboño 2 converted from coal to gas in Jul-2025. Residual coal generation: Los Barrios and Soto III await response on closure requests. Limited gas-fired generation 2025-2040 Own operations EDP’s gas-fired CCGTs play a limited, transitional role, operating mainly as backup and ancillary-service providers to support system reliability in a power system with rising renewable penetration and constrained running hours. CCGT operation increased following the demand for backup services, further intensified by the Iberian power outage on April 28th. After this event, flexible sources like CCGTs were prioritised to reinforce the resilience of the electricity system and ensure security of supply. Technology conversion plans 2025-2040 Own operations Repowering or fuel-switching options to eliminate residual coal. Soto III operates on a limited-hours basis with plans being studied eliminate coal while preserving system adequacy and supporting a just transition in Asturias. Renewable generation >90% of renewable generation 2026-2028 Own operations Driven by coal phase-out, a limited thermal role and supported by new renewable deployments and network investments, aligning the portfolio with its Net Zero by 2040 pathway. Scope 1 + 2 [intensity]; All sold electricity N/A RGA | All regions ~€7.5 Bn gross investments [~60% North America; ~20% Europe; ~10% Asia-Pacific; ~10% in Offshore & Others] ~€0.8 Bn core OpEx Permitting and grid connection & Remuneration and market conditions N/A N/A Wind and solar generation increased by 12% YoY to 41 TWh (including solar DG in Europe and Brazil), supported by 6% YoY increase of installed capacity. Hydro generation in Iberia reached 12 TWh in 2025, exceeding expectations by 2.2 TWh. ~5 GW of renewable additions 2026-28 2026-2028 Own operations Renewable additions in 2026–28 with growth anchored in low-risk, A-rated markets and supporting the group-wide trajectory toward over 90% renewable generation, driven by: ~50% Solar PV; ~30% Solar+BESS; ~15% Wind Onshore; ~5% Wind Offshore. Over the last 12 months, EDP had +2.1 GW of total gross additions (of which +2.0 GW at EDPR level, with the remaining mainly from Solar DG in Europe and Brazil). As of December 2025, capacity under construction stood at 1.6 GW supporting capacity schedule for 2026 and beyond. Direct actions Implementation timeline Scope of action Decarbonisation approach Target contribution Impacted scopes Impacted Platform | Region CapEx & OpEx as in 2026-28 BP Dependencies Emissions reductions potential vs 2020 Emissions reductions achieved by 2025 Achievements by 2025 EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 78
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Networks power losses Continue investment on reduction of distribution technical losses 2020-2040 Own operations Acceleration of grid modernisation, including renewal of ageing assets, targeted reinforcement of high-loss areas and deployment of advanced monitoring and metering, supported by the 2026–28 BP and rising electrification and distributed generation needs in Iberia. Scope 1 + 2 [intensity] Scope 2 Electricity Networks | Iberia + South America ~€3 Bn gross investments in distribution networks €1.7 Bn Portugal: ~40% in Modernisation and consumption; ~25% in Digitalisation; ~20% in Electrification and decarbonisation; ~15% in Networks resilience; €0.6 Bn Spain: ~35% in Modernisation and consumption; ~35% in Digitalisation; ~20% in Electrification and decarbonisation; ~10% in Networks resilience; €0.7 Bn Brazil (~45% in Modernisation and consumption; ~30% in Efficiency; ~15% in Risk management; ~10% in Networks resilience Grid investment frameworks & National power systems decarbonisation By 2030: ~ 0.4 MtCO2e By 2040: ~ 0.5 MtCO2e 0.3 MtCO2e While EDP's distributed electricity increased by 2.2%, the grid losses only increased by 0.8%, compared to 2024, resulting in a 0.1 p.p. reduction on the global distributed grid losses percentage. The increase in the volume of grid losses paired with the increase of global mix emission factors in Portugal and Spain, where EDP concentrates almost 70% of its distributed electricity volumes, resulted in higher emissions.Smart grids and digitalisation 2020-2040 Own operations EDP’s Networks strategy centers on smart grids and digitalisation, using ADMS, smart meters and AI-enabled tools to improve resilience, reduce outages and enable real-time integration of renewables and electrification. Electricity retail Increase sourcing of zero/near-zero carbon electricity for costumers 2030-2040 Own operations | Upstream EDP’s retail strategy focuses on delivering zero or near-zero carbon electricity through renewable-based client solutions, supported by PPAs, distributed generation and a future EAC strategy to address generation-retail imbalances. Scope 3; All sold electricity Scope 3 Cat. 3 Client Solutions | Iberia + South America Not defined in the scope of the BP National power systems decarbonisation & Electrification and green tariffs By 2030: NA By 2040: 2.3 MtCO2e N/A1 N/A Gas retail Optimise gas retail portfolio 2020-2040 Own operations | Downstream Progressive reduction of gas volumes sold and electrification of clients. Scope 3; Use of sold products Scope 3 Cat. 11 Client Solutions | Iberia Not defined in the scope of the BP Incentives to reduce payback time from switching away from fossil gas By 2030: ~ 1.7 MtCO2e By 2040: ~ 2.3 MtCO2e 1.8 MtCO2e Continued reduction of volumes sold vs 2024 (-24%), both in Portugal (-5%) and Spain (-41%). Direct actions Implementation timeline Scope of action Decarbonisation approach Target contribution Impacted scopes Impacted Platform | Region CapEx & OpEx as in 2026-28 BP Dependencies Emissions reductions potential vs 2020 Emissions reductions achieved by 2025 Achievements by 2025 EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 79 1 No emission reductions achieved by 2025, as the implementation timeline for this action is set for 2030 and after, and EDP's retail operations continue to grow.
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Supply chain Supplier's product specific emissions database 2023-2040 Upstream EF database based on LCAs and EPDs for renewable equipment to enabled more accurate supply-chain emissions reporting and supplier/product carbon footprint mapping. Scope 3 Scope 3 Cat. 1 + Cat.2 All platforms (mainly RGA | All regions BEF - Procurement These actions are process- driven and embedded in existing operations; no significant incremental CapEx or OpEx has been identified. Incentives for green industry and processes & Suppliers’ own decarbonisation By 2030: ~ 1 MtCO2e By 2040: ~ 2.3 MtCO2e 1.4 MtCO2e Since 2022, EDP has collected supplier- and equipment-specific emission factors for wind and solar projects. Data collection is being extended to other equipment, including batteries, racking/trackers, transformers and cables. Climate performance evaluation in RFP's 2025-2040 Upstream Prioritisation of the equipment climate analysis at the PC phase & Selection assessment of products with lower climate impact Since 2025, the carbon footprint is being analysed as an additional risk criteria during PCs so EPD can, whenever possible, and if technically and economically feasible, select the solution with the lowest climate impact. Green(er) procurement 2026-2040 Upstream Supported by an EDP Group BP target to cover >80% of enablement equipment purchase volume with carbon footprint data, with EDPR as a key contributor. EDPR secured a First Solar agreement to supply 1.8 GW of US solar projects in 2026–28. First Solar’s thin-film technology is EPEAT Climate+ certified, supporting lower-carbon procurement. Incentivise greener supply chains globally 2020-2040 Upstream EDP has been working on policy and advocacy for a standardised framework on product level emissions information under a WBCSD working group (PACT). Continued engagement via the WBCSD PACT working group. Direct actions Implementation timeline Scope of action Decarbonisation approach Target contribution Impacted scopes Impacted Platform | Region CapEx & OpEx as in 2026-28 BP Dependencies Emissions reductions potential vs 2020 Emissions reductions achieved by 2025 Achievements by 2025 EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 80
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E1.MDR-T | E1-4 | E1-5 | E1-6 | E1-7 | E1-8 Targets and metrics Climate targets setting and policy alignment In defining its climate targets, EDP followed a governance process that ensures alignment with its climate-related policies and strategic objectives. These targets were developed by the Investor Relations & ESG team, and approved by the EBD before submission to SBTi. The targets are a part of the CTP, and are supported by the EDP's Environmental Policy on mitigation and adaptation, and related operational policies, ensuring consistency with EDP’s business model and strategy. To manage the material climate change impacts, risks and opportunities, that were assessed under a diverse range of climate scenarios (see sections impacts, risks and opportunities and resilience analysis), EDP has set targets focusing primarily on decarbonisation, with the support of a strategy to increase renewable generation, contributing to climate change mitigation. These climate mitigation targets, that are measurable, time-bound and science-based, were externally validated in 2023 by the Science Based Targets initiative (SBTi) under the Corporate Net-Zero Standard and Power Sector guidance (Quick S t a r t G u i d e f o r E l e c t r i c U t i l i t i e s ) , u s i n g 2 0 2 0 a s t h e b a s e y e a r , t h u s b e i n g a l i g n e d w i t h t h e 1 . 5 º C trajectory, i.e., limiting of global warming to 1.5 °C in line with the Paris Agreement. The targets cover scope 1, scope 2 and scope 3, are expressed in absolute and/or intensity terms, and are operationalised through the Climate Transition Plan (CTP), covering all of EDP's activities in all regions, as developed in the section scope of consolidation, with no exclusions. The combined targets do not have exclusions from the scope of emissions that compose them, and are detailed in the table below. By having targets set on all scopes, EDP guarantees that both the upstream and downstream value chain activities are also covered. EDP tracks and reports its GHG emissions and targets in accordance with the GHG Protocol Corporate Accounting and Reporting Standard and Corporate Value Chain (Scope 3) Standard, using the financial control consolidation method, with no exclusions, ensuring consistency with EDP's GHG inventory boundaries. Base year, monitoring and progress in 2025 The 2020 baseline value was used for target definition under SBTi's Net-Zero Standard and it was subjected to SBTi's validation process. It provides an accurate representation of EDP's current strategy, allowing for more precise tracking of emissions reduction and progress towards the targets. It is aligned with the most recent and accurate data, reflecting the company's current emissions profile and the latest scientific understanding of climate change, and it accounts for recent changes in EDP's operations, providing a more relevant starting point for measuring future reductions. However, due to the divestments from coal, and to ensure compliance with GHG Protocol, EDP recalculates its baseline emissions, resulting in lower than the ones used to set the decarbonisation targets. As such, EDP is expecting that this change will have impacts on the emissions reduction trajectory and on the decarbonisation path towards Net-Zero. According to SBTi’s guidelines, the baseline recalculation that took place in 2024 will require that the near- and long-term targets be revisited. This process is yet to be started with SBTi. Until the target revision process is started and then concluded, the current emissions reduction targets remain applicable and will be compared to the original baseline emissions used for target setting. Progress against all these targets is monitored through EDP’s annual GHG inventory, and every quarter for the Scope 1+2 intensity target, with oversight by the Sustainability Committee and the EBD. Target performance is assessed annually in this report and any target revision, when occurring, should follow SBTi's standards and guidance. The achievement of these targets is supported by quantified decarbonisation levers and actions, detailed in actions section. The progress in 2025 is a result of: • Scope 1+2 intensity target: Both emissions from thermal generation, and from distribution power losses have increased, has detailed in the actions table under the 2025 achievements. This directly contributes to the increase in the scope 1+2 intensity target when compared with 2024. However, progress continues to be positive compared to 2020 • Scope 3: Retail activities have impacted scope 3 emissions reduction both positively (natural gas sold to clients) and negatively (increase of the electricity volumes sold to clients that were not generated of our own power plants), with the main contributor for the 2025 reduction being the decrease in supply chain emissions, mainly due to a significantly lower volume of wind, solar and storage gross additions (2 GW in 2025 vs 3.8 GW in 2024), but also due to a decrease in the emissions intensity per MW built. When compared to 2020, the decrease is only due to the decrease of emissions intensity per MW, as 2025 had a higher volume of added capacity (2 GW in 2025 vs 1.6 GW in 2020). This is result of the data quality improvement process for suppliers and equipment, but also the progressive selection of equipment with lower emission factors • All sold electricity: The increase on gen-retail imbalance in Brazil also led to higher emissions under scope 3 category 3 compared to 2024, but, overall, the all sold electricity target continues to register positive progress compared to 2020 • Use of sold products: The target for 2023 has already been achieved, with the continued reduction of natural gas volumes sold (-24% vs 2025), both in Portugal (-5%) and Spain (-41%) positively contributing for the 2040 target and overall Scope 3 emissions reductions • Net Zero: 2025 shows the lowest overall emissions at EDP, with target achievement by 2040 surpassing the midway point. EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 81
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1 Target Target formula UN Base year - 2020 2024 2025 Var. vs 2020 (%) Var. vs 2020 Target 2030 Target 2040 S1+S2 (Scope 1 + Scope 2 emissions)/ Electricity generated2 gCO2e/kWh 157 29 51 -67% -106 -95% -96% Scope 1 ktCO2e 9,304 1,458 2,985 -68% -6,319 375 320 Scope 2 (location-based) ktCO2e 594 233 318 -47% -277 150 100 Electricity generated GWh 63,122 57,573 64,232 - - - - S3 ktCO2e 9,595 9,541 6,826 -29% -2,769 -45% -90% S1+S3C3 (All sold electricity) (Scope1 Stationary Combustion + Scope3 Category 3 from electricity that is purchased and sold)/ All sold electricity gCO2e/kWh 126 47 60 -52% -66 -80% -95% Scope 1 - Stationary combustion ktCO2e 9,273 1,433 2,960 - - - - Scope 3 - Category 3 - Electricity that is purchased and sold ktCO2e 2,210 2,962 3,391 - - - - Electricity that is purchased and sold GWh 27,897 36,026 41,487 - - - - All sold electricity (Electricity generated + Electricity that is purchased and sold) GWh 91,019 93,599 105,719 - - - - S3C11 (Use of sold products) ktCO2e 2,405 837 632 -74% -1,773 -45% -90% S1+S2+S3 (Net Zero) ktCO2e 19,493 11,232 10,129 -48% -9,365 - -90% EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 82 1Note: Fields in the table marked with "-" indicate that the information is not applicable. 2 The Scope 1 and Scope 2 gross emissions for 2030 and 2040 were estimated with the support of an internal projections tool and an electricity generation projection for 2030 with no change by 2040.
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GHG emissions Same as with the climate targets, EDP's emissions inventory on all scopes cover all of EDP's activities in all regions, as developed in the section scope of consolidation, with no exclusions, guaranteeing that both the upstream and downstream value chain activities are also covered, with no perimeter changes from the previous year. EDP accounts for its GHG emissions in accordance with the GHG Protocol Corporate Accounting and Reporting Standard and Scope 3 Standard, using the financial control consolidation method, with no exclusions, ensuring consistency with EDP's GHG inventory boundaries. Regarding joint ventures entities and associated companies, the materially relevant case that EDP is reporting is Aboño, with their emissions being included in category 15. EDP uses the most recent data available from entities in the supply chain (suppliers) to measure and disclose emissions. Given that the data is activity data, this does not conflict with the reporting period. For all other entities in EDP’s value chain, that are not suppliers, the reporting period is the same as EDP’s financial statements. GHG emissions per scope [MtCO2e] EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 83 19.5 11.2 10.1 Scope 1 Scope 2 Scope 3 2020 2024 2025 -48% -10% 49% 3% 48% 85% 2% 13% 67% 3% 29%
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Retrospective Milestones and target years UN 2020 2024 2025 2025 vs 2020 2025 vs 2024 2030 2040 2050 Annual % target / Base year1 Scope 1 GHG emissions Gross Scope 1 GHG emissions ktCO2e 9,304 1,458 2,985 -6,319 1,527 375 320 - 9.6 Percentage of Scope 1 GHG emissions from regulated emission trading schemes % 80.1 98.3 99.2 19.1 0.9 - - - - Scope 2 GHG emissions Gross location-based Scope 2 GHG emissions ktCO2e 594 233 318 -276 85 150 100 - 7.5 Gross market-based Scope 2 GHG emissions ktCO2e 574 234 323 -251 89 - - - - Significant scope 3 GHG emissions Total Gross indirect (Scope 3) GHG emissions2 ktCO2e 9,595 9,541 6,826 -2,769 -2,715 5,300 1,000 - 4.5 1. Purchased goods and services ktCO2e 1,116 532 550 -566 18 - - - - 2.Capital goods ktCO2e 1,878 3,218 994 -884 -2,224 - - - - 3. Fuel and energy-related activities (not included in Scope1 or Scope 2) ktCO2e 4,131 3,367 3,883 -248 516 - - - - 3.1. Fuels for electricity production ktCO2e 1,779 213 307 -1,472 94 - - - - 3.2. Electricity distribution ktCO2e 142 192 185 42 -8 - - - - 3.3. Electricity commercialisation ktCO2e 2,210 2,962 3,391 1,181 429 - - - - 4. Upstream transportation and distribution ktCO2e 39 108 5 -34 -103 - - - - 5. Waste generated in operations ktCO2e 11 3 12 1 9 - - - - 6. Business travelling ktCO2e 3 10 7 4 -3 - - - - 7. Employee commuting ktCO2e 11 13 12 1 -1 - - - - 8. Upstream leased assets ktCO2e - - - - - - - - - 9. Downstream transportation ktCO2e - - - - - - - - - 10. Processing of sold products ktCO2e - - - - - - - - - 11. Use of sold products ktCO2e 2,405 837 632 -1,773 -205 1,300 200 - 4.5 12. End-of-life treatment of sold products ktCO2e - - - - - - - - - 13. Downstream leased assets ktCO2e - - - - - - - - - 14. Franchises ktCO2e - - - - - - - - - 15. Investments ktCO2e 1 1,451 729 728 -722 - - - - Total GHG emissions3 Total GHG emissions (location-based) ktCO2e 19,493 11,232 10,129 -9,365 -1,104 - 2,000 - 4.5 Total GHG emissions (market-based) ktCO2e 19,473 11,232 10,134 -9,339 -1,099 - - - - EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 84 1 The value present in this field in based on the milestone for 2030. 2 The percentage of GHG Scope 3 calculated using primary data is 18%. Primary data was only used in categories 2, 3, 4 and 15. 3 EDP's GHG emissions inventory include the following gases: CO2, CH4, SF6, N2O. For those, the GWP reference used is IPCC Fifth Assessment Report (AR6 - 100 years). Note: Fields in the table marked with "-" indicate that the information is not available.
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Biogenic emissions of CO2 from the combustion or bio-degradation of biomass not included UN 2025 2024 Scope 1 GHG emissions ktCO2e 2.7 1.0 Scope 2 GHG emissions ktCO2e 0 0 Scope 3 GHG emissions ktCO2e 0 0 GHG intensity per net revenue UN 2025 2024 Net revenue used to calculate GHG intensity1 Bn€ 15.6 15.0 Total GHG emissions (location-based) per net revenue ktCO2e/Bn€ 649 751 Total GHG emissions (market-based) per net revenue ktCO2e/Bn€ 649 751 Types of internal carbon prices Volume at stake (ktCO2e) Prices applied (k€/ktCO2e) Perimeter description CapEx shadow price 2,977 81.4 Thermoelectric power stations covered by EU-ETS2 EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 85 1 Net revenue used to calculate GHG intensity is the same as total net revenue in financial statements. 2 Internal carbon pricing only covers gross Scope 1 emissions, doing so in 99.2%.
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Calculation methodologies, tools and emission factors Scope 1 Emissions from stationary combustion from thermal power plants, mobile combustion from fleet, fugitive emissions, namely, SF6 and natural gas used in buildings. Inventory includes the following gases: CO2, CH4, SF6, N2O. Stationary combustion emissions are monitored according to the Commission Implementing Regulation (EU) 2023/2122 of 17 October 2023 amending Implementing Regulation (EU) 2018/2066 as regards updating the monitoring and reporting of greenhouse gas emissions pursuant to Directive 2003/87/EC of the European Parliament and of the Council. SF6 emissions are assessed through the refilling of electrical equipment. Own fleet emissions consider the activity data (gasoline, diesel, ethanol or natural gas). GWP reference for the greenhouse gases is IPCC Sixth Assessment Report (AR6 - 100 years). EU-ETS emissions third party verified. GHG Protocol Transport Tool. MITECO, for all activities in Spain. Scope 2 Emissions from distribution power losses and electricity consumptions in office buildings and generation assets. Distribution power losses are accounted for whenever the generated electricity in each geography in lower than the distributed electricity. Most of the electricity consumed by EDP was generated and supplied by the EDP Group and therefore emissions are accounted for under scope 1. Emissions are accounted under Scope 2 for all electricity that is provided by a third party. Location based: national mix emission factors from national agencies. Market based: residual mix emission factors form the Association of Issuing Bodies (AIB), The Internation Tracking Standard Foundation (I-REC), EPA's Emissions & Generation Resource Integrated Database (eGRID), and MITECO, for all activities in Spain. Scope 3 Category 1 - Purchased goods and services Emissions from procurement of goods and services excluding new asset construction. EDP uses a hybrid approach with direct data from suppliers for some acquisitions, the spend- based method and average data method based on Life Cycle Assessment (LCA). Direct data: Total GWP from supplier specific LCA or EPD corresponding to the use life cycle phase. Average data: Internal LCA studies. Spend-based: EPA database. Scope 3 Category 2 - Capital goods Emissions from material and equipment for asset construction (mainly onshore wind, solar and storage) EDP uses a hybrid approach with direct data from suppliers for some acquisitions, the spend- based method and average data method based on Life Cycle Assessment (LCA). Direct data: Total GWP from supplier specific LCA or EPD corresponding to the raw material extraction and manufacturing and installation life cycle phase. Average data: Internal LCA studies. Spend-based: EPA database. Scope 3 Category 3 - Fuel and energy- related Activities (not included in Scope1 or Scope 2) Upstream emissions of purchased fuels and of purchased electricity. EDP uses a hybrid approach: average data method based on Life Cycle Assessment (LCA) and supplier specific data. For some operations (fuel transport), EDP uses direct data from the suppliers. For the remaining operations, EDP uses activity data and emission factors from LCA based on industry averages. Direct data: provided by the transport company. Average data: national energy authorities, LCA studies and DEFRA UK. Scope 3 Category 4 - Upstream transportation and distribution Emissions from transport of traded fuels and material and equipment for asset construction. EDP uses supplier specific data regarding the distribution phase of the LCA of the product. Direct data: Total GWP from supplier specific LCA or EPD corresponding to transportation life cycle phase. Scope 3 Category 5 - Waste generated in operations Emissions from the management of disposed waste generated in operations that is treated by a third party. Waste-type-specific method. DEFRA UK. Scope 3 Category 6 - Business travel Emissions from air and rail travel. EDP uses activity data and emission factors from industry averages. DEFRA UK. Scope 3 Category 7 - Employee commuting Emissions from all modes of transport used for work commuting that are not owed by the company. Emissions from work from home. EDP conducts an internal survey, from time to time, to map the average distances and modes of transportation of its employees on each country. Emissions are than estimated applying the corresponding mode of transportation emissions factor to the average distances. DEFRA UK. Scope 3 Category 8 - Upstream leased assets EDP doesn’t have upstream leased assets. N/A N/A Emission scope Description Methodology and assumptions Emission factors EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 86
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Scope 3 Category 9 - Downstream transportation Support activities (offices and stores) associated with electricity and gas retail. Categories that account for less than 1% of total scope 3 emissions or are not applicable to EDP are considered not relevant. N/A N/A Scope 3 Category 10 - Processing of sold products This category is not applicable to EDP. EDP’s products (electricity and gas) are supplied in their final consuming form, therefore they do not require further processing. N/A N/A Scope 3 Category 11 - Use of sold products Emissions from gas sold to clients. Emissions are calculated from the amount of gas sold to clients, in each geography, and applying the corresponding emissions factor. Portugal and Spain national energy authorities. Scope 3 Category 12 - End-of-life treatment of sold products This category is not applicable to EDP. EDP’s products (electricity and gas) do not require end-of-life treatment. N/A N/A Scope 3 Category 13 - Downstream leased assets EDP doesn't use downstream leased assets. N/A N/A Scope 3 Category 14 - Franchises EDP doesn't have franchised activities. N/A N/A Scope 3 Category 15 - Investments Scope 1 emissions from Aboño. EDP follows the GHG Protocol Technical Guidance for Calculating Scope 3 Emissions on Equity investments, considering that there is no operational or financial control, resulting in accounting for proportional scope 1 and 2 emissions of equity investments. Additionally, to reach the proportion to which account for scope 1 and 2 emissions, the methodology also follows The Global GHG Accounting and Reporting Standard Part A: Financed Emissions (PCAF). N/A Emission scope Description Methodology and assumptions Emission factors EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 87
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GHG removals and carbon credits In the reporting year, EDP did not develop GHG removals and storage projects in its own operations, neither contributed to projects in its upstream and downstream value chain. Additionally, EDP did not acquired new carbon credits outside of its value chain, neither did EDP cancelled the credits that remained in its portfolio. Removals and storage UN 2025 2024 Total GHG removals and storage ktCO2e 0 0 GHG emissions associated with removal activity ktCO2e 0 0 Reversals ktCO2e 0 0 Carbon credits UN 2025 2024 Total Carbon credits cancelled tCO2e 0 211,618 Share from removal projects % 0.0 5.6 Verified Carbon Standard % 0.0 100 Share from reduction projects % 0.0 94.4 Verified Carbon Standard % 0.0 100 Share from projects within the EU % 0.0 0.7 Share of carbon credits that qualify as corresponding adjustments % 0.0 0.0 Carbon credits planned to be cancelled in the future Amount until [Year] 2040 2040 Total Carbon credits planned to be cancelled tCO2e 255 255 Energy consumption Energy consumption UN 2025 2024 Total Energy consumption MWh 17,829,191 9,375,061 From fossil sources MWh 15,478,997 7,193,275 Fuel consumption from coal and coal products MWh 1,377,730 1,040,209 Fuel consumption from crude oil and petroleum products MWh 48,724 57,909 Fuel consumption from natural gas MWh 12,469,324 5,376,488 Fuel consumption from other fossil sources MWh 0 0 Consumption of purchased or acquired electricity, heat, steam, or cooling from fossil sources MWh 1,583,219 718,669 From nuclear sources1 MWh 16,112 9,924 From renewable sources MWh 2,334,082 2,171,862 Fuel consumption from renewable sources MWh 13,162 1,869 Consumption of purchased or acquired electricity, heat, steam, and cooling from renewable sources2 MWh 0 0 Consumption of self-generated non-fuel renewable energy3 MWh 2,320,920 2,169,993 EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 88 1 The calculation of energy consumption from nuclear sources considers the electricity mix of each geography and the % of nuclear energy in that mix. For Portugal, Spain, and Brazil the consumption is supplied by EDP Group companies that do not have nuclear-origin electricity in their mix. 2 EDP conservatively opted to report this value as zero, as there were no sufficient nor clear information on how much of the electricity consumption was covered by contracts with green certificates (RECs or Guarantees of Origin). 3 To report on this indicator, EDP is considering its renewable generation mix for consumptions that are supplied by EDP Group companies.
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Energy consumption UN 2025 2024 Fossil sources in total energy consumption % 86.8 76.7 Energy consumption from nuclear sources % 0.1 0.1 Renewable sources in total energy consumption % 13.1 23.2 Energy production UN 2025 2024 Non-renewable MWh 6,796,065 2,861,564 Renewable MWh 57,436,123 54,617,797 Energy intensity based net revenue1 UN 2025 2024 Total energy consumption from activities in high climate impact sectors MWh 17,829,192 9,375,061 Net revenue from activities in high climate impact sectors2 m€ 15,607 14,966 Total energy consumption from activities in high climate impact sectors per net revenue from activities in high climate impact sectors MWh/m€ 1,142 626 EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 89 1 All of EDP’s activity falls under the Energy sector, which is classified as a high climate impact sector. As such, we use all of EDP’s energy consumption and net revenue to determine the energy intensity. 2 Net revenue used is the 1st item of the Consolidated Income Statement (Revenues from energy sales and services and other) and note 7.
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2.2. Nature and resource management EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 90 EDP's energy infrastructure interacts extensively with natural systems across water, biodiversity, and material resources. These interactions shape operational continuity, regulatory exposure, and the company's ability to deliver sustainable energy within ecological limits. Water availability represents a critical dependency, particularly for hydropower generation operating in water-stressed regions. Reduced hydrological flows constrain production, increase reliance on alternative generation sources, and elevate costs. EDP addresses this through technological diversification towards wind and solar assets with lower water dependency, optimised reservoir management, enhanced hydrological forecasting systems, and participation in collective water governance where exposure is elevated. L a n d - u s e c h a n g e a s s o c i a t e d w i t h n e w i n f r a s t r u c t u r e d e v e l o p m e n t r e p r e s e n t s E D P ’ s m o s t significant impact on biodiversity. These impacts are primarily concentrated during the construction phase, when land is cleared and prepared to host new assets, leading to changes in habitat composition and, in some cases, modifying ecological connectivity. Wildlife interactions constitute another relevant dimension of EDP: wind turbines and transmission lines may create collision or electrocution risks for birds and bats, while hydropower facilities interact with aquatic and riparian species and influence riverine dynamics. These factors generate regulatory, reputational, and financial risks, reinforcing the importance of systematic biodiversity assessment and the adoption of innovative solutions such as agrivoltaics and floating solar. In response, EDP’s biodiversity management approach applies the mitigation hierarchy across the entire project lifecycle—prioritizing the avoidance of ecologically sensitive areas, minimizing residual impacts through protective design and operational controls, restoring temporarily affected environments, and compensating s i g n i f i c a n t u n a v o i d a b l e i m p a c t s w i t h t h e a i m o f a c h i e v i n g a l o n g - t e r m p o s i t i v e b a l a n c e ( f u r t h e r information - Nature Management Approach). Material flows through operations demand responsible stewardship. Wind turbines, solar modules, batteries, and enabling infrastructure eventually become waste requiring proper management. Inadequate handling creates contamination risks and regulatory liabilities. EDP's 2026–2028 commitment targets over 85% waste recovery across construction, operation, and decommissioning, supported by repowering initiatives extending turbine lifespans, second-life battery applications, and recycling partnerships for solar panels and wind blades. Circular principles—material recovery, component reuse, extended asset lifetimes— preserve resources whilst strengthening supply chain resilience.
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EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 91 Environmental policy Integrate biodiversity into decision-making Starting in early stages of business development processes Support societal endeavours Project biodiversity beyond direct footprint and scale Embedding protection along project life cycle Protecting biodiversity in construction, operation & decommissioning Actions Targets 2028 Biodiversity and ecosystems Resource use and circular economy Supplier code of conduct Extend asset lifetime and resource valorization Extend equipment life through better maintenance and ensure waste is recovered across operations Embed circular design to enable material recovery and reuse Use circular design choices to improve resource recovery Integrate circular criteria into procurement Collaborate with suppliers to maximize reuse and recycling across the value chain All new projects include a biodiversity risk analysis & action plan1 Promote Biodiversity Foster circularity along the assets lifecycle >85% total waste recovered by 2028 Nature management approach 1 Projects subject to the Investment Committee's approval Climate transition plan (see Climate Change chapter) Water Integrate Water into decision-making Embed water risk considerations across strategic and operational processes Promote water stewardship Engage stakeholders to support responsible and shared water management Assess and mitigate water risks Manage water availability and quality risks across the asset lifecycle Policies and guidelines 86% 72% 2024 vs 2025
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ESRS-2.SBM-3 Impacts, risks and opportunities Water Material IRO Time Horizon IRO description Water availability Risk Own operations Short-Term Hydropower generation depends on water, and restricted availability poses a financial risk Biodiversity and ecosystems Land-use change Actual negative impact Risk Own operations Medium-Term (Risk) Impact: Operations can cause biodiversity loss and habitat degradation Risk: Financial risks, increased costs, supply chain disruptions, and reputational damage due to biodiversity loss and habitat degradations Accidental fire Potential negative impact Risk Own operations Short-Term (Impact | Risk) Impact: Fires can cause habitat loss, soil degradation, pollution, and disruption of fauna, reducing ecosystem integrity and resilience. Risk: Unplanned land use change and ecosystem degradation due to fire events, leading to regulatory, operational, and reputational risks. New business models Opportunity Own operations Medium-Term Opportunity to develop new business models that reduce land-use impacts while enabling dual land productivity and expanding sustainable energy generation Impact on species Actual negative impact Risk Own operations Short-Term (Risk) Impact: Energy infrastructure can cause direct and indirect wildlife deaths, disrupting ecosystems and contributing to species decline. Risk: Wildlife mortality from infrastructure (e.g., turbines, power lines) may lead to biodiversity loss, regulatory penalties, and reputational harm. Material IRO Time Horizon IRO description EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 92
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Resource use and circular economy Improving operational efficiency and moving towards circular practices Potential positive impact Own operations Short-Term Recycling and upcycling reduce environmental impact and preserve resources Unsustainable resource use Actual negative impact Upstream | Own operations - Overuse of natural resources degrades ecosystems, accelerates climate change, and increases regulatory and reputational risks. Inadequate waste disposal Actual negative impact Own operations | Downstream - Improperly managed solid waste from power generation can contaminate soil and groundwater, posing risks to ecosystems and drinking water sources Material IRO Time Horizon IRO description EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 93
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E3.MDR-P | E3-1 | E4.MDR-P | E4-2 | BP-2 | E5.MDR-P | E5-1 Policies E D P ’ s e n v i r o n m e n t a l m a n a g e m e n t a p p r o a c h i s g r o u n d e d i n a G r o u p - w i d e E n v i r o n m e n t a l Policy that a r t i c u l a t e s o u r l o n g - t e r m v i s i o n , c o m m i t m e n t s , a n d g o v e r n a n c e p r i n c i p l e s f o r m a n a g i n g n a t u r e - r e l a t e d issues. The present Policy applies to companies fully owned, directly, or indirectly, by EDP Group and to companies in which EDP is in a dominant relationship within the limits established in the Binding Instructions and in the Policies and Procedures of the internal regulations and delegation of authority in force. The Environmental Policy is also applicable to entities that provide services at EDP facilities and infrastructures or on behalf of and representing the companies that make up the EDP Group. It frames the continuous improvement of environmental performance, the integration of sustainability c o n s i d e r a t i o n s i n t o d e c i s i o n - m a k i n g p r o c e s s e s , a n d t h e a l i g n m e n t o f t h e G r o u p w i t h i n t e r n a t i o n a l sustainability expectations and best practices, including the UN Global Compact principles and the UN Sustainable Development Goals, particularly those with significant environmental relevance: (i) 7 - affordable and clean energy, (ii) 11 - sustainable cities and communities, (iii) 12 – responsible consumption and production, (iv) 13 - climate action, (v) 15 – life on land, and (vi) 17 - partnerships for the goals. EDP recognizes the environment protection as a strategic management element, aiming to prevent air, water and soil pollution and reduce the impacts and dependencies of its activity on nature and it is articulated through three strategic priorities to protect the planet and enhance natural capital through three key pillars: climate change, circular economy and biodiversity. To drive its implementation, the policy is supported by a set of global commitments that ensure the implementation and maintenance of adequate and effective environmental management systems, with the ultimate purpose of sustainable development: • Integrate environmental protection and the enhancement of natural capital into decision-making processes, at different stages of the asset life cycle activities, including planning, design, construction, operation, power reinforcement, and decommissioning • Identify, assess, and mitigate the environmental risks of its activities, seeking to maximise opportunities and extend this process to the supply chain, promoting the improvement of the environmental performance • Prevent pollution, particularly in response to emergencies in disaster and/or serious accidents situations, including those involving hazardous substances • Promote the continuous improvement of processes, practices, and environmental performance by setting goals and objectives to reduce environmental impacts and by encouraging research, development and innovation • Comply with applicable environmental legislation, as well as other voluntarily assumed obligations, anticipating the application of new legislation whenever possible • Consult key stakeholders, in particular affected communities and indigenous people, and consider their relevant expectations in the implementation of this policy and in decision-making processes • Communicate performance regularly and transparently, ensuring balance, understanding and accessibility by stakeholders, particularly local and affected communities • Provide training to employees on the company's environmental impacts, dependencies, risks and opportunities. Empower and raise awareness for the improvement of individual and collective environmental performance, contributing to public clarification • Foster the improvement of environmental performance of the customer, through the offer of products and services with a smaller environmental footprint. The Executive Board of Directors is responsible for approving the Environment Policy and its successive revisions. EDP’s Supplier Code of Conduct further strengthens these commitments by extending environmental expectations to suppliers and business partners to identify, monitor and mitigate the environmental impacts and risks of their activities, product, materials and means of transport, promoting continuous improvement and conserving the environment. These expectations ensure that EDP’s environmental commitments are embedded across the value chain, promoting consistent standards of protection and responsible behaviour beyond EDP’s direct operations. The Supplier Code of Conduct thereby functions as an operational extension of the E n v i r o n m e n t a l P o l i c y , e n a b l i n g s u p p l y - c h a i n - w i d e i m p l e m e n t a t i o n o f t h e p r i n c i p l e s d e s c r i b e d a b o v e . EDP integrates nature's strategy into daily operations through its AMAT (Assess, Measure, Act, Track) guiding framework, complemented by the implementation of the environmental management system aligned with ISO 14001. This helps EDP to address and manage all nature-related aspects such as EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 94
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resource use, climate change, pollution, and biodiversity and ecosystems, within a coherent operational structure. This approach is structured at two main levels: • Strategic: At corporate level, driven by commitments that transform the business and the way EDP operates, followed by progressive disclosure of the company performance and delivery against the objectives • Operational: At operational level daily articulated through the AMAT approach, inspired by Science Based Target Network (SBTN) Step-by-Step Guide to Nature based target setting, across the entire project life cycle. While assess follow TNFD LEAP approach and actions follow the mitigation hierarchy to avoid, reduce, restore and/or offset negative residual impacts. To complement the Environmental Policy, EDP has published in its website a clear understanding of what the nature means to the company as well as its management approach, supporting company’s performance. Nature Management Approach Report. Additional information concerning the governance process for the approval and implementation of the Environmental Policy, within the scope of water management, detailed in Sustainability Governance. Biodiversity Environmental Policy and Suppliers Code of Conduct - Biodiversity Commitments Reducing biodiversity loss by applying the mitigation hierarchy and striving for a long-term positive contribution, while advancing scientific knowledge and partnerships to protect ecosystems and services. The EDP's Environmental Policy integrates climate action, circular economy and biodiversity protection, which collectively contribute to managing the main drivers of biodiversity loss described in ESRS E4. By reducing greenhouse gas emissions, promoting resource efficiency and minimizing pollution, and protecting and restoring ecosystems, the policy supports the prevention and mitigation of pressures on species, habitats and ecosystem services, while strengthening EDP’s resilience to environmental risks and dependencies.. Within the framework of the Kunming–Montreal Global Biodiversity Framework, EDP’s policy direction is to preserve and protect nature and its essential services and to halt biodiversity loss by 2030, c o m m i t t i n g t o r e d u c e b i o d i v e r s i t y l o s s b y p r i o r i t i s i n g t h e m i t i g a t i o n h i e r a r c h y a n d t o s e e k a l o n g - t e r m positive balance for nature, while deepening scientific knowledge, notably through the establishment of partnerships. The policy frames the assessment of material biodiversity impacts and dependencies across the entire project life cycle under TNFD framework applying the LEAP approach to locate, identify and assess the main dependencies, impacts, risks and opportunities on biodiversity and ecosystems. Additional information on this topic is presented in 2.2.2. Biodiversity and Ecosystems. More information regarding how EDP drives implementation through development and operational teams including stakeholders engagement is presented in Nature Management Approach Report. Circular economy Environmental Policy and Supplier Code of Conduct - Circular Economy Commitment Promoting efficient use of natural resources such as water, through life-cycle approaches, minimizing resource consumption, optimizing internal processes, and maximizing waste recovery and reintegration into the economy, with special attention to the end-of-life phase of the assets. To support economic development decoupled from the intensive extraction of natural resources— including water—and to promote the regeneration of nature and its services, EDP commits to promoting t h e e f f i c i e n t u s e o f n a t u r a l r e s o u r c e s f r o m a l i f e - c y c l e p e r s p e c t i v e . K e y c o m m i t m e n t s i n c l u d e : • Minimizing the use of natural resources • Optimizing and efficiently manage its assets • Maximizing the valorisation of waste and its reintroduction into the economy • Promoting circularity in the selection and use of equipment • Developing products and services that promote the circular economy • Promoting the sustainable management of water resources, minimizing its consumption, with special attention to areas of water stress. EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 95
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Additional information on water and marine resources management is presented in 2.2.3. Resource use and circular economy. Water resources Under EDP's Environmental Policy, it is explicit the commitment of promote the efficient use of natural resources, namely the use and sustainable management of water in all processes, operations and installations. These commitments are integrated into its operational processes and decision-making frameworks to ensure sustainable development and responsible sourcing. With a proper management of water resources, EDP monitors potential shortages, controls water quality and sediments as well as the impact of the management of this resource on biodiversity, for which undertakes mitigation activities such as the release of environmental flows, the transfer and transport of fish, and support for scientific research on these topics. Additional information on water and marine resources management is presented in 2.2.1. Water. EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 96
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E3.IRO-1 2.2.1. Water Water-related risks’ evaluation is integrated into the company’s strategy and business plan, supporting the decision of geographical and tech diversification, and highlighting the most relevant risks – guaranteeing strategic resilience in the long term. Additionally, at operational level, Environmental Impact Assessments, and the In-depth water risk analysis (namely water stress asset exposure), help mitigate water risks at local level. EDP uses the WRI Aqueduct and the Water Risk Filter tool to conduct a high-level water stress assessment, by mapping all its assets against the Baseline Water Stress (BWS; watershed level), applying the threshold BWS 40%. Wind generation and distribution assets are excluded given their low dependency on water availability. A downscaling analysis at local level is then performed for all power plants identified in water-stressed areas, using information from National Governmental Agencies (location specific indicators) and company’s operational teams (asset water dependency, local competitive uses). Water-related risks in new investments are analysed through scenario analysis with water availability and regulation effects in energy prices and volumes, as well as hydro resource evaluation integrating long-term effects of climate change and impact on new hydro capacity. This assessment is updated on a 2-3-year basis or whenever a new project requires it. The outcomes of these analyses are consolidated and reported internally, supporting decision-making on asset management, investment prioritisation and portfolio resilience. In parallel, EDP ensures the identification and classification of potential water pollutants through its Corporate Environmental Management System, certified by Lloyds according to ISO 14001:2015. This system covers the management of environmental policies, strategic plans, and performance of EDP Group organizations. An internal environmental risk assessment tool, using an impact scale, is used for the identification and classification of environmental risks and opportunities linked to environmental aspects and impacts, including water pollution. Within this framework, electricity generation activities, particularly hydropower, are identified as the business segment with material water-related dependencies and risks. Compliance of pollutant emission limits defined in environmental licensing permits, issued by national environmental authorities is also part of the company's procedures. Water pollutant monitoring is conducted with different frequencies based on the permits. Hydro power plants do not emit pollutants into the water, but water quality parameters are monitored to address potential pollution issues from upstream sources. Some of the indicators used include thermal pollution, physical-chemical indicators (dissolved oxygen, pH, suspended solids, biochemical oxygen demand (BOD), chemical oxygen demand (COD)) and organic pollutants (detergents, oils, hydrocarbons). Regular monitoring of these indicators is essential for effective water pollution management. EDP does not rely on marine-resource- related commodities for electricity generation; therefore, marine resources are not considered material for this specific risk. The electricity generation activities are identified as potential sources of detrimental impacts on water, while distribution and supply activities are deemed not relevant. With regard to stakeholder consultation, EDP adopts a structured approach to engaging affected communities, recognising the importance of dialogue in identifying and managing water-related risks. The EDP Local Stakeholder Engagement Policy determines that prior to Development and Operation (or decommissioning) there must be an external and independent due diligence, assessing specific human rights and impacts on communities. These are consulted locally, exposed to risks and opportunities of the operation to be established, and an action plan outcomes from those consultations. The Social License to Operate (SLO) is only achieved by trust: a shared value proposition must be clear to all; communication channels must be intuitive and accessible, so that any risk and impact may be taken into account and resolved. ESIAS (Environmental and Social Impact Assessments) are put in place ahead of construction, and those lead to the local communities engagement that all EDP regions take forward in their strategic planning, as defined in scope of consolidation. E3.MDR-A | E3-2 Actions Water is a critical resource for the EDP Group, particularly for hydropower generation, which represents 28% of the Group’s renewable portfolio. Reduced water availability, especially in areas subject to high water stress, constitutes a material risk, potentially leading to operational constraints, production volatility and additional financial costs associated with the need to rely on alternative generation sources or to purchase electricity from the market. To address this risk, EDP has implemented a structured set of actions and allocated resources, embedded within its enterprise risk management and strategic planning processes. Following the revision of the downscaling analysis and the implementation of in-depth assessments, the Los Barrios thermal power plant in Spain was identified as a water risk asset. However, EDP has requested the closure of this coal-fired plant and is awaiting regulatory feedback, meaning that this exposure is not expected to translate into a long-term increase in water-related operational or financial risk. Given its identification as a water risk asset, Los Barrios is monitored within regional water governance structures. EDP participates in the ‘Mesa de la Sequía’ forum, led by the local public water supplier and EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 97
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involving public authorities, industrial users and other stakeholders. To date, no drought-related measures adopted under this framework have affected the plant’s operations, reflecting EDP’s commitment to collective water stewardship. At the operational level, the plant has implemented water-saving practices, including the reuse of wastewater from the desulphurisation process, effectively operating as a zero-discharge facility, and the reuse of rainwater for fire suppression systems. These measures contribute to reducing freshwater abstraction and mitigating exposure to water stress, in line with the reduction and adaptation layers of the mitigation hierarchy. The outcomes of these assessments are directly integrated into investment, divestment and portfolio management decisions, contributing to a structural reduction of water-related risk. This includes technological and geographical diversification, with increasing emphasis on renewable technologies with limited water dependency, such as wind and solar, and adjustments to the relative weight of hydropower in regions exposed to long-term reductions in precipitation. At an operational level, for assets located in areas of high water risk, EDP implements adaptation and resilience measures, including optimised reservoir management, enhanced hydrological monitoring systems and the integration of medium- and long-term climate scenarios into operational planning. These actions aim to improve production predictability and mitigate the financial impacts associated with prolonged drought events, as additional details, see the Climate Adaptation and Resilience Report. The financial resources allocated to these actions include investments in monitoring systems, hydrological studies, climate scenario analyses and, where applicable, infrastructure and equipment that enhance water-use efficiency or operational flexibility. Such expenditures are incorporated into the Group’s capital planning processes and support prudent financial risk management related to hydropower generation volatility. Recognising that water is a shared resource, EDP also engages in collective actions and stakeholder engagement initiatives in relevant river basins, involving local communities, water management authorities and regulators, particularly in areas facing increased water stress. These initiatives support integrated water resource management, contribute to the anticipation of regulatory or allocation constraints and help mitigate potential conflicts over water use. Overall, these actions and resources reflect EDP’s integrated and preventive approach to managing water availability risk, strengthening the resilience of its generation portfolio, limiting financial exposure to water stress and supporting the sustainable use of water resources in the areas where the Group operates. EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 98
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Action Short description Objective Risk addressed Category CAPEX Results and next steps Platform Scope Sustainable power in times of water scarcity: low-impact solutions Engineering measures implemented across several hydropower plants to enable electricity generation under minimum ecological flows, including the installation of a 700 kW Archimedes Screw hydroscrew in Pilotuerto, the modernisation of generating units in La Barca and Castelo do Bode to reduce minimum operating power, and the addition of a t u r b i n e t o t h e e c o l o g i c a l - f l o w r e l e a s e s y s t e m i n V e n d a Nova. These solutions have minimal environmental i m p a c t a n d a r e f i s h - f r i e n d l y . Increase hydropower generation under w a t e r - s c a r c i t y c o n d i t i o n s while complying with environmental requirements. Drought and reduced water availability affecting hydropower generation and increasing operational/ financial risk. • Reduce the use of water such as through efficiency measures; • Restoration and regeneration of aquatic ecosystem and water bodies. 9M€ Up to +5% additional generation using water previously discharged without energy use. Next steps: Replicate similar engineering and innovative solutions in other hydro plants across Portugal and Spain. Renewable Generation Assets - Iberia Own operations Forecasting the future: Water Board for climate-resilient hydropower Development and implementation of the Water Board platform, an advanced digital system integrating climate and hydrological forecasts into hydroelectric operations. It uses AI-based models to predict river inflows, optimize energy production, improve dam safety, and enhance water resource management while supporting investment planning and risk mitigation. Improve hydropower resilience to climate variability and extreme weather events by integrating accurate hydrological and climate forecasts into operations. Flooding, rainfall variability, drought, reduced water availability • Reduce the use of water such as through efficiency measures; • Restoration and regeneration of aquatic ecosystem and water bodies. 0.5M€ (initial) and 1.0M€ (future upgrades) Accurate AI-based forecasts help optimize inflows, improve dam safety, energy efficiency, and water resource management. Next steps: Extend the Water Board to all hydro assets, evaluate forecast suppliers, and improve analysis in collaboration with main users. Renewable Generation Assets - Portugal Own operations EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 99
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E3.MDR-T | E3-4 Targets and metrics The EDP Group has not set specific quantitative targets under ESRS E3. This risk is largely driven by natural hydrological variability and long-term changes in precipitation patterns, especially in regions exposed to water stress. For this reason, no specific deadline has been set for defining quantitative targets. However, EDP monitors the effectiveness of its policies and actions related to this risk through integrated climate and corporate risk management processes. Water availability is assessed at the asset and river basin level using climate and hydrological scenario analyses, and the results are incorporated into operational planning, investment decisions and financial risk management. The Group’s level of ambition is defined qualitatively and focuses on strengthening the resilience of hydropower assets, ensuring operational continuity and mitigating potential additional financial costs arising from water scarcity. Progress is evaluated through the analysis of hydropower generation performance against historical hydrological baselines, the implementation of climate adaptation measures, and the continued diversification of the generation portfolio towards technologies with lower dependency on water resources. Water stored UN 2025 2024 Total water stored 106xm3 8,370 7,901 Changes in water storage 106xm3 469 346 Measure obtained UN 2025 2024 From direct measurement % 100 100 From sampling and extrapolation % 0 0 From best estimates % 0 0 EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 100
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BP-2 2.2.2. Biodiversity and ecosystems Biodiversity and ecosystems worldwide are under unprecedented pressure, with accelerating d e g r a d a t i o n c o m p r o m i s i n g e c o l o g i c a l i n t e g r i t y , c l i m a t e r e s i l i e n c e a n d s o c i e t a l w e l l - b e i n g . R e c o g n i s i n g nature as both a shared global asset and a material strategic factor for the Group, EDP is strengthening its a p p r o a c h t o n a t u r e - r e l a t e d m a n a g e m e n t . A l t h o u g h E D P a p p l i e s t h e p h a s e - i n p r o v i s i o n i n A p p e n d i x C o f E S R S 1 t o o m i t d e t a i l e d d i s c l o s u r e s u n d e r E S R S E 4 f o r t h e c u r r e n t r e p o r t i n g y e a r , B i o d i v e r s i t y a n d ecosystems has been assessed as a material topic in our double materiality assessment, and the Group is committed to progressively enhancing its understanding and management of its impacts and dependencies on nature. W i t h i n E S R S E 4 , t h e f o l l o w i n g m a t t e r s h a v e b e e n i d e n t i f i e d a s m a t e r i a l f o r E D P : impacts on the state of species; and impacts on the extent and condition of ecosystems, direct impact drivers of biodiversity loss. T h i s s e c t i o n s e t s o u t E D P ' s a p p r o a c h t o i d e n t i f y i n g , a s s e s s i n g a n d i n t e g r a t i n g n a t u r e - r e l a t e d i m p a c t s , dependencies, risks and opportunities into our strategy, governance and operations, in alignment with E S R S E 4 a n d i n c o h e r e n c e w i t h e m e r g i n g g l o b a l f r a m e w o r k s . I t a l s o o u t l i n e s t h e o n g o i n g s t e p s E D P i s t a k i n g t o f u r t h e r d e v e l o p i t s n a t u r e - r e l a t e d a s s e s s m e n t p r o c e s s e s , i n c l u d i n g t h e p r o g r e s s i v e a d o p t i o n o f T N F D - a l i g n e d m e t h o d o l o g i e s a n d t h e a d v a n c e m e n t o f i n t e r n a l c a p a b i l i t i e s t o s u p p o r t r o b u s t n a t u r e - p o s i t i v e d e c i s i o n m a k i n g . ESRS-2.SBM-3 | E4.SBM-3 |E4.IRO-1 Biodiversity management approach EDP has recently published a dedicated document, the Nature Management Approach (NMA), a document developed throughout 2025 and formally released in early 2026. The NMA sets out the Group’s strategy on nature and biodiversity and translates its corporate commitments into a structured and operational framework. This approach provides a coherent basis for integrating biodiversity and ecosystem considerations across strategic planning, project development and operational d e c i s i o n - m a k i n g . This report is intentionally designed to concentrate on disclosing the metrics, targets and concrete actions implemented during the reporting period, while offering only a succinct overview of our broader biodiversity management approach. The full methodological detail underpinning our strategy is presented separately in the Nature Management Approach, which acts as the comprehensive reference document for biodiversity management. In line with regulatory requirements and recognised best practice, EDP systematically applies the Environmental Impact Assessment (EIA) process to its projects. This process enables the identification and assessment of actual and potential biodiversity impacts on a project-by-project basis, as well as the definition of tailored mitigation and management measures. Consistent with recognised practice and the ESRS framework, the EIA also incorporates the assessment of potential impacts on local communities, including aspects aligned with ESRS S3 (3.3. Local communities). This integrated approach ensures that both environmental and social risks associated with project development are duly identified and managed. Complementing the EIA at project level, the strategy is implemented through the AMAT framework, following a structured and iterative process throughout the project lifecycle to ensure continuous i m p r o v e m e n t . A M A T s u p p o r t s t h e s y s t e m a t i c i d e n t i f i c a t i o n a n d a s s e s s m e n t o f b i o d i v e r s i t y - r e l a t e d impacts and dependencies, risks and opportunities (DIROs); the definition of relevant metrics and targets; the implementation of mitigation and management actions to avoid and reduce significant impacts on nature and ecosystem services; and the ongoing monitoring of performance and outcomes over time. To reinforce the Assess phase of the AMAT framework, EDP has strengthened its strategic approach by becoming a TNFD Adopter. Beyond disclosing in line with TNFD recommendations, EDP applies the TNFD LEAP methodology as a structured and complementary process to systematically identify and assess n a t u r e - r e l a t e d d e p e n d e n c i e s , i m p a c t s , r i s k s a n d o p p o r t u n i t i e s ( D I R O s ) . T o g e t h e r , t h e n a t u r e management approach, the environmental impact assessment process and the AMAT cycle - underpinned by LEAP - ensure a consistent assessment basis across technologies and geographies, and enable the integration of biodiversity considerations into strategy, risk management and operational planning. This combined approach provides a robust foundation for the double materiality assessment. Material sites, screening and management EDP is developing a biodiversity risks assessment process to identify material locations for biodiversity, across operational assets. During development and construction phase, assets follow a biodiversity screening aligned with the mitigation hierarchy: (i) avoidance of highly sensitive areas, (ii) environmental impact assessment, (iii) mitigation of identified impacts, (iv) restoration of temporarily used areas and, if necessary, (v) compensation for residual significant impacts. The specific approach depends on the technology, size and location of each asset. Once in operation, certified environmental management systems oversee ongoing management, regulatory compliance and monitoring of environmental licences. In 2025, the Group prioritized c e n t r a l i z i n g a s s e t d a t a a n d h a r m o n i s i n g c r i t e r i a t o e n s u r e a c o n s i s t e n t G r o u p - w i d e v i e w a n d t o strengthen risk screening. EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 101
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Priority material sites in sensitive areas are assessed according to the following criteria: • Assets with environmental management systems assessing potential risk to biodiversity • Location of assets within or in the vicinity of areas of high biodiversity sensitivity, using the IBAT database, with data from WDPA (World Database on Protected Areas) and KBA (Key Biodiversity Areas) • Among these, assets with regulatory requirements related to: i) monitoring ecological flows at hydroelectric plants, and ii) installation of bird protection systems at wind farms. This following list represent the percentage of material sites by technology and region, expressed as the share of material sites over the total number of EDP sites. This may evolve over the coming years as the risk screening process becomes more robust. Region Technology % Material sites Materiality Iberia Thermal plants 0.3% WDPA Hydro plants 8.7% WDPA / KBA / EF Solar PV 1.2% KBA Wind onshore 15.9% WDPA / KBA / BPS Europe Solar PV 1,4% WDPA / KBA Wind onshore 3,2% WDPA / KBA / BPS South America Hydro plants 0.3% WDPA / KBA / EF Solar PV 0.0% N/A Wind onshore 0,3% WDPA Transmission lines 1,2% WDPA/KBA North America Solar PV 0.0% N/A Wind onshore 0,9% KBA / BPS Asia-Pacific Solar PV 0.0% N/A Note: Distribution networks not included . All EDP assets located in high biodiversity sensitive areas have an Environmental Management System in place . EF: Ecological Flow ; BPS: Bird protection system Methodological note: Material sites are identified through EDP’s nat u r e - r e l a t e d r i s k - s c r e e n i n g f r a m e w o r k , w h i c h c o m b i n e s g e o s p a t i a l o v e r l a y s ( i n c l u d i n g p r o t e c t e d a r e a s , k e y b i o d i v e r s i t y a r e a s s ) w i t h s i t e - s p e c i f i c e x p o s u r e f a c t o r s a n d o p e r a t i o n a l c h a r a c t e r i s t i c s . A s i t e i s c l a s s i f i e d a s ‘ m a t e r i a l ’ w h e n s c r e e n i n g i n d i c a t o r s s i g n a l p o t e n t i a l f o r s i g n i f i c a n t n a t u r e - r e l a t e d d e p e n d e n c i e s o r i m p a c t s , w a r r a n t i n g f u r t h e r a s s e s s m e n t . T h e m e t h o d o l o g y w i l l c o n t i n u e t o e v o l v e a s data availability improves, internal processes are refined, and alignment with emerging regulatory and market standards (such as TNFD and ESRS E4) is strengthened. Impacts and dependencies EDP has assessed the potential direct impacts of each technology against the main IPBES 1drivers of n a t u r e l o s s f o l l o w i n g L E A P m e t h o d o l o g y . T h e a s s e s s m e n t i n d i c a t e s t h a t l a n d - u s e c h a n g e i s m o s t significant during the construction phase, when land conversion occurs (including vegetation clearance, habitat fragmentation, soil degradation and sealing). D u r i n g t h e o p e r a t i o n a l p h a s e , i m p a c t s t e n d t o b e l o c a l i s e d a n d t e c h n o l o g y - s p e c i f i c . W i n d , h y d r o a n d network infrastructures may interact with wildlife and potentially affect threatened species, particularly through collision risks, barrier effects, habitat alteration, or as a consequence of air pollutant emissions. In addition, accidental fires during operation may also impact species and the overall condition of ecosystems. For conventional thermal generation, impacts have been associated with water use and thermal discharges, but these effects are steadily decreasing as EDP phases out thermal technologies, reducing resource intensity and pressure on freshwater systems. EDP’s main dependencies relate to provisioning services and to climate and ecosystem stability. Water dependency is disclosed in the Water section. The dependency on global climate regulation is addressed in the EDP Climate Adaptation Report 2025. Additional information on identified nature-related DIROs is provided in the Nature Management Approach document, which includes a technology-specific identification and semi-quantitative assessment of the Group’s dependencies, impacts, risks and opportunities. E4.MDR-A | E4-3 | BP-2 Actions The act phase of the AMAT framework is where EDP converts assessment insights into concrete, a s s e t - l e v e l a c t i o n s t h a t d e l i v e r m e a n i n g f u l o u t c o m e s f o r n a t u r e . B u i l d i n g o n E I A , e n v i r o n m e n t a l s c r e e n i n g and DIRO assessments, progress depends on consistent execution across assets—mobilising engineers, EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 102 1 Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services
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environmental specialists, planners and operators to translate strategy into practical measures that protect species, safeguard ecosystems and enhance local environmental conditions. Our approach is grounded in three core principles: • The mitigation hierarchy (avoid, minimise, restore/rehabilitate, offset), applied across the project lifecycle; • The promotion of nature -based solutions (NbS) to strengthen ecosystem resilience and create long- term environmental and social value. Examples of NbS implemented across EDP’s portfolio are available in Climate Adaptation Report) ; and • The integration of local knowledge and technical expertise to ensure context appropriate, effective measures. In line with ESRS E4 requirements, the actions described below correspond to measures implemented during 2025 to address actual and potential impacts on species and ecosystems. These actions c o n t r i b u t e t o t h e G r o u p ’ s e x e c u t i o n o f t h e m i t i g a t i o n h i e r a r c h y , i m p l e m e n t a t i o n o f a d a p t a t i o n - a l i g n e d N b S , a n d r e i n f o r c e m e n t o f n a t u r e - p o s i t i v e p r a c t i c e s. Avoidance Avoidance is the first and most effective step of the mitigation hierarchy and is prioritised whenever there is a risk of significant adverse impacts on biodiversity. At EDP, avoidance measures focus on preventing impacts from occurring by influencing early-stage decision-making, including site selection, project design, layout optimisation and scheduling of activities. These actions are primarily driven by environmental screening, baseline studies and spatial planning tools that identify sensitive habitats, protected areas and key species. By integrating biodiversity considerations at the earliest stages of the project lifecycle, EDP seeks to steer projects away from areas of high ecological value and reduce exposure to risks related to ecosystem degradation, regulatory non-compliance and social conflict. Avoidance measures implemented during 2025 reflect this precautionary approach, embedding biodiversity protection into core technical and investment decisions. Preventing habitat disturbance from design (States of Piauí, Tocantins and Maranhão – Brazil) A t o w e r - r a i s i n g p r o j e c t w a s d e s i g n e d w i t h t h e o b j e c t i v e o f r e d u c i n g i n t e r f e r e n c e w i t h v e g e t a t i o n along the transmission line corridor. By increasing the height of specific towers, the project was able to avoid the need for vegetation clearance to ensure cable safety distances. This engineering solution resulted in a 22% reduction in the area initially expected to require vegetation suppression, thereby reducing associated environmental impacts. Through this proactive design measure, the project prevented habitat disturbance, protected native plant communities, and contributed to the conservation of local biodiversity. This approach illustrates how to address potential impacts at the design stage to ensure that ecological values are preserved and that unnecessary habitat alteration is prevented Minimization Where impacts cannot be fully avoided due to technical, regulatory or system constraints, EDP implements minimisation measures aimed at reducing the extent, duration and intensity of pressures on species and ecosystems. These measures are typically applied during construction, operation and maintenance activities and are designed to limit disturbance while enabling the continuity of essential energy infrastructure. Minimisation actions focus on adapting construction methods, operational practices and maintenance protocols, including timing restrictions, equipment selection, monitoring programmes and staff training. During 2025, EDP deployed a range of minimisation measures to manage residual impacts, improve environmental performance at asset level and ensure alignment with permit conditions and internal environmental standards, while reducing energy losses. EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 103
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Bright Stalk: Optimized Smart Curtailment (OSC) to protect bats while maintaining energy yield (USA) The Bright Stalk wind farm participates in the “Validating Optimized Smart Curtailment” research project led by Western EcoSystems Technology, Inc. (WEST) through the Renewable Energy Wildlife Research Fund (REWRF). The initiative aims to reduce bat collisions during periods of higher risk through site-specific, data-driven operational controls, while limiting unnecessary energy curtailment during low-risk periods. This approach enables effective biodiversity protection with proportionate operational impact. Main tasks (2025): • Development and deployment of an Optimized Smart Curtailment (OSC) algorithm based on site- specific bat activity data and environmental variables (e.g. temperature, wind speed and seasonality). • Adaptive turbine curtailment triggered when predefined risk thresholds are met, with normal operations resuming during low-risk periods to minimise energy losses. • Continuous monitoring and iterative refinement of operational parameters to improve prediction accuracy and overall effectiveness throughout the operational season Restoration Restoration and rehabilitation measures are implemented to repair ecosystems and biodiversity values that have been temporarily or permanently affected by project activities, once impacts have occurred. At EDP, these actions aim to re-establish ecological functions, habitats and species populations, with a preference for restoring ecosystems to their pre-impact condition. Restoration measures are typically site-specific and informed by baseline conditions, ecological assessments and post-impact monitoring. In 2025, EDP advanced restoration and rehabilitation actions linked to land disturbance, habitat alteration and infrastructure decommissioning, contributing to ecosystem recovery, landscape connectivity and improved ecological integrity around operational assets. Muniello ash landfill – Ecosystem restoration through native reforestation (Spain) The Muniello landfill restoration project aims to rehabilitate degraded land by removing invasive eucalyptus species and restoring native vegetation adapted to local ecological conditions. The action addresses historical impacts on soil structure, habitat quality and landscape connectivity associated with landfill use and non-native plantations. In 2025, restoration actions focused on the initial phase of replanting, based on native species, as part of a progressive land rehabilitation plan. This phase is scheduled to be completed by December 2026. Additional restoration and enhancement measures, such as the creation of nature-based itineraries supporting cultural ecosystem services, may be defined in subsequent phases once ash extraction activities are completed and subject to approval by the competent environmental authority. Compensation Compensation measures are considered as a last resort and only applied to address significant residual impacts that remain after avoidance, minimisation and restoration efforts have been exhausted. These actions aim to achieve no net loss - and where possible a net gain - of biodiversity by delivering measurable conservation outcomes outside the project footprint. EDP’s approach to compensation is aligned with recognised best practices, including additionally, long- term effectiveness and ecological equivalence. In 2025, compensation measures implemented by EDP focused on supporting habitat enhancement, species conservation and ecosystem management initiatives that contribute to regional or national biodiversity objectives, while strengthening partnerships with local stakeholders and environmental organisations. Beyond the actions implemented under the mitigation hierarchy, EDP is also advancing a strategic shift in its asset development model to structurally reduce biodiversity impacts. This transition includes prioritising solutions that inherently require less land take and cause lower habitat disturbance, such as repowering existing sites, floating solar installations, and agrivoltaic systems that enable dual land use. T h e s e e m e r g i n g a p p r o a c h e s a r e c o m p l e m e n t e d b y i n n o v a t i o n s s u c h a s c o - l o c a t i o n o f t e c h n o l o g i e s , infrastructure optimisation, and asset modernisation, all of which contribute to reducing pressure on natural habitats by maximising output within already altered or occupied areas. By incorporating these l o w - i m p a c t b u s i n e s s m o d e l s i n t o i n v e s t m e n t a n d p l a n n i n g d e c i s i o n s , E D P a i m s t o d e c o u p l e g r o w t h f r o m l a n d c o n v e r s i o n , e n h a n c e r e s o u r c e e f f i c i e n c y a n d s t r e n g t h e n l o n g - t e r m n a t u r e - p o s i t i v e p e r f o r m a n c e . EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 104
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Red Kite (Milvus milvus) recovery programme in Andalusia in partnership with GREFA, Grupo de Rehabilitación de la Fauna Autóctona y su Hábitat EDP supports a regional conservation programme aimed at halting the critical decline of the red kite (Milvus milvus) in Andalusia through the reinforcement and re-establishment of viable wild populations. The initiative contributes to biodiversity conservation outcomes beyond EDP’s operational footprint and addresses residual impacts in line with the mitigation hierarchy. Since 2021, the programme has enabled the release of 186 individuals, including 23 red kites reintroduced in 2025, sourced through nestling rescue and captive breeding. All released birds are equipped with GPS tracking devices, enabling long-term monitoring of survival, movement and breeding behaviour. In 2025, actions include the application of dual reintroduction methodologies (hacking and acclimatisation), continued tracking of previously released individuals, veterinary support, additional marking of new releases and awareness-raising activities, supported through the EDP Foundation. The programme involves multiple public authorities and conservation organisations and has already contributed to the re-establishment of breeding pairs in areas where the species was previously extinct, including Cádiz and Jaén. Red kite chick just a few days after hatching. EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 105
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E4.MDR-T | E4-4 | E4-5 | BP-2 Targets and metrics Targets Framed by EDP’s Environmental Policy, the Group aims to reduce biodiversity loss by applying the m i t i g a t i o n h i e r a r c h y a n d s t r i v i n g f o r a p o s i t i v e l o n g - t e r m b i o d i v e r s i t y b a l a n c e ; t o d e e p e n s c i e n t i f i c knowledge through partnerships; and to avoid new production facilities within UNESCO1 World Heritage S i t e s a s a s t a n d i n g c o r p o r a t e s a f e g u a r d e m b e d d e d i n p r o j e c t s c r e e n i n g a n d d e c i s i o n - m a k i n g . In 2025, EDP unveiled its new business plan for 2026-2028, built on four strategic pillars: focused growth, business optimisation, a distinctive and resilient portfolio, and value creation. This plan reflects the company’s strong commitment to the energy transition, embedding ESG principles and the preservation of nature as core elements for a more sustainable future. As part of the development of the new business plan, EDP conducted a comprehensive review of its b i o d i v e r s i t y - r e l a t e d p r i o r i t i e s , g o v e r n a n c e p r o c e s s e s a n d i n t e r n a l m e t h o d o l o g i c a l f o u n d a t i o n s . I n t h i s context, the biodiversity strategy and targets disclosed in previous reporting cycles were reviewed to ensure alignment with the new business priorities and and strategy. Following this reassessment, and recognizing both current limitations in data availability and the evolving maturity of internationally recognized biodiversity methodologies, EDP recalibrated its level of ambition. In this context, previous objectives have been reframed as ongoing programmes rather than formal targets. This approach enables EDP to pursue challenging yet realistic aims while deepening technical understanding of biodiversity net gain through pilot projects. Work continues across the underlying areas - including internal tracking systems, BNG methodological d e v e l o p m e n t a n d T N F D - a l i g n e d d i s c l o s u r e - t o r e i n f o r c e m e t h o d o l o g i c a l r o b u s t n e s s a n d e n s u r e t h e o r g a n i z a t i o n i s p r e p a r e d f o r f u t u r e , f u l l y a u d i t a b l e t a r g e t - s e t t i n g ( s e e m e t h o d o l o g i c a l n o t e o n t h e r i g h t ) . This evolution aims to ensure relevant objectives, complemented by a foundational line of work focused on continuous improvement, supported by robust methodologies, strengthened internal controls, a p p r o p r i a t e d a t a - g o v e r n a n c e p r o c e s s e s , a n d c l e a r a c c o u n t a b i l i t y m e c h a n i s m s . T h e u p d a t e d t a r g e t framework reflects improved internal processes, enhanced methodological maturity, and the integration of the Group’s new strategic commitments established in 2025. 2028 commitment Objective Mitigation hierarchy Aligning with GBF 2028 target Baseline year All new projects include a biodiversity risk analysis and action plan2 Integrate biodiversity risks and impacts into project planning and investment decisions, supporting corporate assessment, m a n a g e m e n t a n d d i s c l o s u r e o f n a t u r e - r e l a t e d risks and dependencies. Avoidance, minimization Targets 14, 15 100% 2026 EDP is also committed to launching pilot projects to test and align with biodiversity no net loss and net g a i n a p p r o a c h e s . T h e s e p i l o t s a i m t o t r i a l p r a c t i c a l m e t h o d s t o a c h i e v e n o - n e t - l o s s o r n e t - g a i n o u t c o m e s , support restoration efforts, and mobilize private investment towards positive biodiversity results. In line with GBF targets 2, 10 and 19, EDP seeks to advance towards net gain methodologies. I n 2 0 2 4 , t h e G r o u p a l s o c o m m i t t e d t o d i s c l o s e n a t u r e - r e l a t e d i n f o r m a t i o n i n l i n e w i t h T N F D recommendations. In this context, EDP has recently published the Nature Management Approach Report (NMA), consolidating governance, processes and operational practices into a unified framework (see equivalence table in Annex 2.2. TNFD alignment). These commitments apply across all geographies in which EDP operates, tailored to the level of b i o d i v e r s i t y - r e l a t e d r i s k , a n d o p e r a t i o n a l i s e t h e c o m p a n y ’ s a m b i t i o n t o p l a c e n a t u r e a t t h e c e n t r e o f s t r a t e g i c d e c i s i o n - m a k i n g w h i l e a d v a n c i n g t o w a r d s a m o r e r e g e n e r a t i v e e n e r g y m o d e . A d d i t i o n a l information concerning the scope is detailed in scope of consolidation. Methodological note. In 2025, EDP reassessed legacy biodiversity targets against the 2026–2028 Business Plan. This led to (i) the conversion of l o c a t i o n - b a s e d e x c l u s i o n s ( e . g . , U N E S C O W o r l d H e r i t a g e S i t e s ) i n t o p e r m a n e n t c o r p o r a t e s a f e g u a r d s ; ( i i ) t h e c o n s o l i d a t i o n o f B i o d i v e r s i t y N e t G a i n i n t o a m u l t i - y e a r e n a b l e m e n t p r o g r a m m e t h r o u g h p i l o t p r o j e c t s t o s e c u r e m e t h o d o l o g i c a l v a l i d i t y a n d d a t a i n t e g r i t y b e f o r e s e t t i n g a n a u d i t a b l e t a r g e t ; a n d ( i i i ) t h e retirement of targets superseded by safeguards or programmes. 2024 outcomes remain disclosed as historical information; no restatements have been made. Metrics In 2025, EDP progressed in identifying and establishing biodiversity metrics to support DIROs identification and management and to align disclosures with ESRS E4 and TNFD. A key enabler has been the centralization of technical information in a global GIS, allowing the application of homogeneous and comparable criteria across technologies and geographies. This methodological harmonization enables EDP to draw global conclusions at Group level, and to prioritise management actions consistently. EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 106 1 United Nations Educational, Scientific and Cultural Organization 2 Projects subject to the investment Committee's approval
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Specifically, EDP reports the number of sites within protected areas and/or key biodiversity areas and the surface area occupied by those sites. Surface area is calculated using standardized proxies per technology: wind (rotor diameter), photovoltaic (total plant area), hydropower (reservoir area) and networks (management strip area). This strengthens comparability over time and across the portfolio and s u p p o r t s m a t e r i a l i t y s c r e e n i n g a n d r i s k - b a s e d p r i o r i t i z a t i o n . Protected or key biodiversity areas1 UN 2025 2024 Sites owned, leased or managed in or near protected areas that undertaking is negatively affecting # 171 151 Sites owned, leased or managed in or near protected areas that undertaking is negatively affecting kha 34.8 4.32 Sites owned, leased or managed in or near key biodiversity areas that undertaking is negatively affecting # 98 85 Sites owned, leased or managed in or near key biodiversity areas that undertaking is negatively affecting kha 33.0 32.0 EDP has also characterized assets using globally consistent layers (e.g. Corine Land Use, Ecological intactness index and IUCN3 Global Ecosystem typology ) to understand the land-use change derived from the construction phase of the assets. Indicator 2025 TNFD ESRS Land-use change in new built facilities Total spatial footprint (kha) 2,6 C1.0 E4-5 ,AR 34a E4-5, AR 34b Extent of land/freshwater/ocean ecosystem use change (ha) by type of ecosystem New construction sites: • 70% in agricultural or anthropic land • 7% grassland • 15% broad-leaved and coniferous forest C1.1 E4-5 , 41a Ecosystem condition Level of ecosystem condition by type of ecosystem and business activity New construction sites: Highly degraded ecosystems C5.0 E4.5, 41 b) i) Excluding networks Looking ahead to 2026, EDP w i l l a d v a n c e f i n a n c i a l m e t r i c s f o r n a t u r e - r e l a t e d r i s k a s s e s s m e n t . Integrating these indicators into the risk management process will strengthen EDP’s ability to anticipate, q u a n t i f y a n d m a n a g e n a t u r e - r e l a t e d f i n a n c i a l r i s k s a c r o s s t h e a s s e t l i f e c y c l e . In parallel, pilot projects will enhance measurement and monitoring of ecological impacts and positive contributions. These pilots will form the foundation of a future Biodiversity Tracking System - a G r o u p - w i d e p l a t f o r m p r o v i d i n g c o n s i s t e n t , s c i e n c e - b a s e d m e t r i c s o n s p e c i e s , h a b i t a t s a n d e c o s y s t e m s , a n d s u p p o r t i n g p r o g r e s s t o w a r d s l o n g - t e r m n a t u r e - p o s i t i v e a m b i t i o n s . EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 107 1 Information regarding WDPA and KBA site occupation areas may include overlaps. Solar DG not included near: 2km buffer considered 2 Following a methodological review of the criteria applied, a refinement in the classification approach was implemented, which explains the variation observed between 2024 and 2025. 3International Union for Conservation of Nature
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E5.IRO-1 2.2.3. Resource use and circular economy EDP’s approach to circular economy management is built on a structured and continuous process for identifying and assessing impacts, risks and opportunities related to resource use and circularity, covering both its own operations and its upstream and downstream value chain. This process integrates p e r i o d i c m a t e r i a l i t y a s s e s s m e n t s , e n v i r o n m e n t a l r i s k - m a n a g e m e n t m e t h o d o l o g i e s a n d s u p p l i e r a u d i t s and inspections that evaluate resource efficiency, waste management practices and the incorporation of recycled materials, as well as suppliers’ alignment with EDP’s sustainability standards. These mechanisms are complemented by ongoing engagement with stakeholders - including employees, suppliers, NGOs, experts and local communities - whose insights support the continuous improvement of circular practices and the anticipation of emerging risks and opportunities. This management approach is supported by key internal policies, including: • Environmental policy - establishes EDP’s commitment to minimising environmental impacts, making efficient use of resources and promoting waste reduction based on the principles of reduce, reuse and recycle; • Circular economy strategy - reinforces the need to rethink entire product and process life cycles and to integrate circular solutions from the design phase through development, construction, operation and decommissioning, ensuring that materials retain their value for as long as possible; • Supplier code of conduct - complements the circular economy framework by establishing m a n d a t o r y e n v i r o n m e n t a l , t r a c e a b i l i t y , a n d d u e - d i l i g e n c e r e q u i r e m e n t s a p p l i c a b l e t o a l l s u p p l i e r s and subcontractors across the company. These requirements help ensure responsible sourcing, p r o m o t e r e s o u r c e - e f f i c i e n t p r a c t i c e s , a n d r e i n f o r c e c i r c u l a r i t y p r i n c i p l e s t h r o u g h o u t t h e s u p p l y c h a i n . EDP’s policies also support a broader transition towards secondary resources by reducing dependency on virgin raw materials and encouraging the use of recycled or renewable materials. The circular economy strategy reinforces this by embedding durability, repairability and extended lifetime into asset design, thereby reducing primary material extraction and increasing material recovery and valorisation. Circular economy strategy EDP´s Circular Economy strategy is based on three fundamental pillars: reduction, optimisation and valorisation as a way to promote the increase of circularity in the business, implemented through seven priority axes of action (see figure). The 7 EDP axes of action for circular economy Efficiency in the use of resources and materials Promote the reduction of inputs of resources and materials and reduction of waste outputs. Product longevity Promote solutions that extend the product lifecycle, including modular design solutions, which allow the product to be easily disassembled and their components replaced, remanufactured, repaired, updated. Digitalisation Integrate digital solutions that through technology and data allow dematerializing processes and reducing the consumption of materials and resources, but also supporting the construction of new business models (product as a service). Resource valorisation Promote the valorization of waste materials at the end of life, focusing on their “second life” after the original purpose, namely through the creation of symbiosis with other sectors of activity, recycling, energy recovery, etc. New business models Promote the construction of new business models that allow the introduction of different circularity levels in the products and services provided to the customer, such as the life cycle extension, models as a service, efficiency, sharing, etc. Circular supplies Promote circularity practices, such as replacing materials and products with longer-lasting, recycled, reused ones; labelling of products identifying their circularity; but also the inclusion of criteria in purchases. Influence and awareness Ensure the company’s responsibility for the products, materials and assets it produces and manages/uses. Responsibility to influence the value chain to leverage the circularity in its products, services and choices. EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 108
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The EDP Group is committed to delivering innovative and competitive solutions while ensuring consistency across all its activities and ecosystems: • Power generation: The Group seeks to reshape renewable energy supply chains across their entire value chain and responsibly manage the decommissioning of thermoelectric assets. • Infrastructure and networks: EDP aims to redefine the value chain of major assets by integrating Circularity by Design principles and leveraging digitalization to accelerate the network’s role as a platform. • End customers: The Group supports customers in their transition to circularity by providing new products and services designed to promote more sustainable consumption. • Suppliers: EDP engages its suppliers to strengthen and mobilize the entire supply chain toward circular practices. Other areas - ranging from digital infrastructures to trading and office operations - are also actively contributing to this transformation. Reaching high levels of circularity requires a collaborative and systemic approach. For this reason, EDP works closely with international organizations and platforms, as well as within its main geographies of operation, including European countries, the United States, and Brazil. The Group partners with institutions, companies, NGOs, universities, and other stakeholders to advance knowledge on the circular economy and help drive systemic change. E5.MDR-A | E5-2 Actions The actions implemented by EDP in 2025 in the field of circular economy were primarily operational, without giving rise to the definition of quantitative targets but subject to annual monitoring. In the area of circular design, EDP integrated circularity considerations from the earliest stages of conceptualisation and engineering, preparing for the future collection, separation and valorisation of materials, while s t r e n g t h e n i n g E S G - r e l a t e d s u p p l i e r r e q u i r e m e n t s t h r o u g h t h e i n c l u s i o n o f c i r c u l a r i t y c l a u s e s a n d recyclability commitments in contracts. EDP also advanced several circular business practices, including the reuse and recycling of components wherever feasible, the modernisation and repowering of wind farms - enabling the replacement and valorisation of components while extending asset lifetime - and the implementation of e n e r g y - s h a r i n g a n d o p t i m i s a t i o n m o d e l s t h a t m a x i m i s e r e n e w a b l e - e n e r g y u t i l i s a t i o n . C i r c u l a r s o l u t i o n s w e r e a l s o e x p a n d e d w i t h i n s t o r a g e s y s t e m s , n o t a b l y s e c o n d - l i f e a n d r e c y c l i n g a p p l i c a t i o n s f o r batteries. The company deepened its participation in collective initiatives and partnerships that facilitate s e c t o r - w i d e c i r c u l a r i t y . T h e “ C l o s e t h e L o o p ” p r o g r a m m e r e f l e c t s t h i s c o l l a b o r a t i v e m o d e l b y b r i n g i n g t o g e t h e r s p e c i a l i s e d p a r t n e r s t o r e c y c l e s o l a r p a n e l s a n d w i n d - t u r b i n e c o m p o n e n t s , r e i n t e g r a t i n g valuable materials and reducing waste volumes. These efforts are reinforced by the supplier code of conduct, which strengthen environmental compliance, traceability and transparency across the supply chain. Together, these actions consolidate EDP’s contribution to the circular economy, expressed through i n c r e a s i n g m a t e r i a l r e c o v e r y a n d v a l o r i s a t i o n , e x t e n d e d l i f e t i m e o f r e n e w a b l e - e n e r g y a s s e t s , s u b s t i t u t i o n o f h i g h e r - i m p a c t m a t e r i a l s w i t h r e n e w a b l e a l t e r n a t i v e s a n d i n t e g r a t i o n o f s p e c i a l i s e d recycling value chains capable of recovering metals, glass, silicon and other critical materials. Planned Decommissioning of Pena Suar wind farm in Portugal for 2026 EDP is preparing the decommissioning of the Pena Suar wind farm, with execution scheduled for 2 0 2 6 . C i r c u l a r - e c o n o m y p r i n c i p l e s a r e b e i n g e m b e d d e d f r o m t h e o u t s e t , s t a r t i n g w i t h t h e contracting phase. EDP is requiring dismantling suppliers to incorporate measures that maximize the valorization of raw materials, ensuring that dismantled components — including metals, composites and oils — are directed toward reuse and recycling pathways whenever feasible. To strengthen transparency and traceability, contractors will also be required to report detailed i n f o r m a t i o n o n m a t e r i a l f l o w s a n d t r e a t m e n t o u t c o m e s , e n a b l i n g r e s p o n s i b l e e n d - o f - l i f e management and alignment with both regulatory requirements and EDP’s circularity commitments. In 2025, there are several best practices for circular economy, for each of the priority axes of action (figure in the previous page), which are detailed in the following table. EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 109
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Efficient use of resources and materials Use of rainwater in wind farms To reduce water consumption for human use, EDPR has implemented innovative rainwater harvesting systems in its operations. These systems include the installation of cisterns that efficiently collect, store, and reuse rainwater. This harvested water is then used for various maintenance activities, such as cleaning floors, offices, accommodation, and irrigation. By embracing these sustainable practices, the company not only conserve precious water resources but also demonstrate our commitment to environmental stewardship. Renewable Generation Assets – Iberia, Rest of Europe and South America Own operations Energy storage system with batteries at solar farms Installation of batteries for energy storage in solar farms with the aim of improving the flexibility of electrical systems, thus incorporating greater renewable capacity. Renewable Generation Assets – Iberia, Rest of Europe and South America Own operations Product longevity Oil analysis before replacement In the context of the operation and maintenance of the facilities, periodic oil checks are defined as part of the regular maintenance service to ensure the best performance of the turbines. In this regard, an analysis of the oil is carried out before its replacement to ensure if it meets the characteristics to be changed or if it is in good condition and its useful life can be extended. Renewable Generation Assets – Iberia, Rest of Europe and South America Own operations and value chain Database of equipment suitable for reuse Development of a centralized inventory of network equipment with potential for reuse—such as transformers and other key components—and implementation of a shared system accessible across EDP’s locations in Spain. This initiative promotes circularity within our operations by extending equipment lifecycles, reducing material consumption, and facilitating efficient redistribution across the network. Renewable Generation Assets – Iberia Own operations Implementation of A i r - C o r e R e a c t o r s E D P a d v a n c e d t h e r e p l a c e m e n t o f t r a d i t i o n a l o i l - i m m e r s e d s h u n t r e a c t o r s w i t h m o d u l a r , l i g h t w e i g h t d r y - t y p e ( a i r - c o r e ) r e a c t o r s , a s o l u t i o n t h a t e l i m i n a t e s t h e n e e d f o r i n s u l a t i n g o i l a n d t h e a s s o c i a t e d c o n t a i n m e n t i n f r a s t r u c t u r e . Designed for a service life exceeding 38 years and demonstrating reliability above 99.9%, these reactors significantly extend asset longevity while reducing material use and environmental impact. By deploying eight new a i r - c o r e r e a c t o r b a n k s , t h e p r o j e c t w i l l a v o i d m o r e t h a n o n e m i l l i o n l i t r e s o f o i l a n d s u b s t a n t i a l l y r e d u c e t h e s t e e l , c o n c r e t e , a n d s p a c e r e q u i r e d , r e i n f o r c i n g t h e G r o u p ’ s s t r a t e g i c f o c u s o n l o n g - l a s t i n g , r e s o u r c e - e f f i c i e n t a s s e t s . Renewable Generation Assets – South America Own operations Digitalisation AI-Driven Asset Management At E-REDES, the innovative Analytics4Assets tool leverages AI to evaluate HV/MV power transformers, circuit breakers, and power lines. By analysing asset behaviour throughout their lifecycle, this tool supports maintenance and investment optimization, providing crucial insights for deciding whether transformers should be maintained, upgraded, or rehabilitated. The reconditioning of transformers, combined with predictive analysis and real-time remote monitoring, enhances responsiveness and service quality while extending the useful life of resources through dematerialization processes. Additionally, E-REDES employs LIDAR systems for the maintenance and monitoring of power lines, significantly reducing the need for physical inspections and conserving resources. This comprehensive approach not only ensures efficient asset management but also promotes sustainability and operational excellence. Networks – Iberia Own operations and value chain Automatic Routing with Intelligent Clustering D i g i t a l p l a t f o r m u s i n g m a c h i n e - l e a r n i n g – b a s e d c l u s t e r i n g a n d g e o r e f e r e n c e d d a t a t o o p t i m i z e m e t e r - r e a d i n g r o u t e s , reducing distances and improving efficiency across EDP Distribuição São Paulo. Networks – South America Own operations Resource valorization Uniform Recycling Management of used workwear through specialized recycling centres, where textile fibres are recovered and reintroduced into the production chain by supplying manufacturers. Renewable Generation Assets and Networks – Iberia and South America Own operations and value chain Recovery of wind turbine blades & solar panels One of the most important challenges for the renewable business is the waste generation, especially wind turbine blades and solar panels. In this regard its important to search opportunities to promote innovative solutions for the recovery of end-of-life wind turbine blades or solar panels. How? Analysing potential collaborations / participations / partnerships regarding innovative solutions and implement new circular alternatives identified. Renewable Generation Assets – Iberia, Rest of Europe and South America Own operations and value chain Meadow Lake IV Repower Planning Planning of the Meadow Lake IV Repower (2026) dismantling process with a focus on resource valorization, ensuring that materials from decommissioned assets are maximized for reuse, recycling and recovery. The initiative includes coordinated engagement with contractor and development, engineering, construction, environmental and procurement teams to secure circular outcomes. Renewable Generation Assets – North America Own operations and value chain Axis of action Initiative Description Platform Scope EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 110
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Resource valorization Close the Loop Partnerships + Wind Turbine Blade and Panel Recycling EDPR NA continues to advance a circular economy by strengthening secondary markets for reuse, recycling and material recovery across wind and solar assets. Throughout 2025, the company expanded its network to more than 1 8 q u a l i f i e d p a r t n e r s f o r s o l a r - p a n e l r e c y c l i n g a n d o v e r 1 2 p a r t n e r s f o r w i n d - s e c t o r r e c y c l i n g a n d r e c o v e r y , c o v e r i n g materials such as steel, blades, oils and composite components. This growing ecosystem supports the responsible d i s m a n t l i n g , r e p o w e r i n g a n d e n d - o f - l i f e m a n a g e m e n t o f r e n e w a b l e a s s e t s , e n s u r i n g m a t e r i a l s a r e d i v e r t e d b a c k i n t o productive value chains. These efforts reinforce EDPR NA’s commitment to resource valorization, reduced environmental impact and a more sustainable energy system. Renewable Generation Assets – North America Own operations and value chain Madison wind farm Decommissioning Planning and execution of the Madison Wind Farm dismantling with a strong focus on resource valorization. Turbines a n d s i t e i n f r a s t r u c t u r e a r e b e i n g s a f e l y d e c o m m i s s i o n e d a n d d i r e c t e d t o r e u s e , r e c y c l i n g a n d e n e r g y - r e c o v e r y pathways, including metals, oils, and composite materials. Remaining components are handled in compliance with l o c a l r e g u l a t i o n s , e n s u r i n g r e s p o n s i b l e e n d - o f - l i f e m a n a g e m e n t a n d r e s t o r a t i o n o f t h e s i t e . Renewable Generation Assets – North America Own operations and value chain Recycling of porcelains isolators Due to the significant amount of porcelain being generated in networks, primarily from discarded isolators, EDP decided to reassess its life cycle. Laboratory tests, which showed positive results from using crushed porcelain in concrete blocks, led to the decision to reuse this material on a larger scale by incorporating crushed porcelain as fine aggregate in civil construction. This approach ensures the complete utilization of what was once considered waste material. Networks - South America Own operations and value chain Reuse of electric meters Reuse of customer electricity meters recovered from service terminations, preparing them for redeployment in new customer installations to extend equipment lifespan and reduce material consumption. Client Solutions - Iberia Own operations New business models Solar energy sales as a service Development of a business model as a service for solar, in which the management of panels made by EDP contributes to their better maintenance and, therefore, to an extension of their useful life, in addition to the fact that when the customer no longer needs them, they can be reused by other customers. Client Solutions - Iberia Own operations and value chain Circular supplies Unified Circular Supplies Criteria for Purchasing and Asset Reuse E D P a d v a n c e d i t s C i r c u l a r S u p p l i e s s t r a t e g y t h r o u g h t h e d e v e l o p m e n t o f c o m m o n g r e e n - p r o c u r e m e n t c r i t e r i a f o r network equipment—an initiative carried out with Ihobe and in collaboration with other Spanish electricity operators. In parallel, EDP reviewed and strengthened the internal rules for classifying and reusing ‘rotatable’ assets in SAP, defining clear technical criteria and system requirements to extend equipment life and ensure consistent circularity standards across the supply chain. Networks – Iberia Own operations and value chain Integrating circularity in suppliers’ evaluation EDP maintains its commitment to sustainability through the ESG Supplier Roadmap, focusing on circular economy principles, supplier engagement, and capacity building. By collaborating closely with suppliers globally, EDP promotes the adoption of circular practices, ensuring that products and materials are reused and recycled efficiently. This initiative not only enhances the environmental performance of the supply chain but also empowers suppliers with the knowledge and tools needed for circular economy practices. As a result, suppliers improve their sustainability performance, contributing to EDP's overarching goals of decarbonization and resilience. This collaborative approach fosters a more sustainable and transparent value chain, driving mutual growth and success. Global Own operations and value chain Influence and awareness Circular economy Training EDP has implemented training sessions for all employees on the principles of the circular economy and current regulations. These sessions also cover how EDP is addressing these requirements. Parallel to this, EDP maintains an open dialogue with suppliers to understand and share innovations, key concerns, and trends in the circular economy. This bidirectional communication ensures that both EDP and its suppliers are aligned and can collaboratively advance their sustainability goals. This comprehensive approach not only enhances internal capabilities but also strengthens external partnerships, driving collective progress towards a more sustainable and circular economy. Global Own operations Axis of action Initiative Description Platform Scope Note: EDP developed an internal tool to consolidate and share across the different company teams, all the Circular Economy initiatives developed, ongoing and in pipeline. Through this tool EDP is working to improve the identification of initiatives timelines / roadmaps and financial resources allocated. EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 111
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E-REDES transformer included in the Analytics4Assets project - AI-Driven Asset Management E5.MDR-T | E5-3 | E5-4 | E5-5 Targets and metrics EDP has established a voluntary s t r e n g t h e n e d c i r c u l a r - e c o n o m y c o m m i t m e n t u n d e r i t s 2 0 2 6 - 2 0 2 8 Business Plan, setting a company target of ensuring that more than 85% of total waste is recovered across the assets’ life cycle. This target applies to all stages of asset development - including construction, operation, maintenance and dismantling - and is based on the assumption that waste materials undergo proper dismantling, sorting and treatment prior to being directed to recovery or other valorization pathways. T o m o n i t o r p r o g r e s s t o w a r d t h i s o u t f l o w - r e c o v e r y t a r g e t , E D P c o n d u c t s q u a r t e r l y a n d a n n u a l p e r f o r m a n c e a s s e s s m e n t s u s i n g s t a n d a r d i z e d w a s t e - m a n a g e m e n t i n d i c a t o r s r e p o r t e d b y a l l b u s i n e s s units. These indicators are supported by harmonized classification rules for waste types, treatment operations and recovery categories, ensuring comparability across geographies and technologies. Performance is tracked against internal baselines and forecasts, allowing the company to identify d e v i a t i o n s e a r l y a n d i m p l e m e n t c o r r e c t i v e a c t i o n s , s u c h a s i m p r o v i n g o n - s i t e s e g r e g a t i o n , r e v i s i n g contractor requirements or enhancing recovery routes for specific waste streams. Initial results show steady progress in improving recovery performance across major asset classes, driven by increased material circularity during maintenance operations and by stricter recovery criteria embedded in construction and dismantling contracts. EDP set this target through a joint process with internal experts a n d e x t e r n a l w a s t e - m a n a g e m e n t p a r t n e r s t o e n s u r e i t i s a m b i t i o u s , r e a l i s t i c a n d a l i g n e d w i t h stakeholder expectations. In line with Group principles, EDP values the achievement of the highest possible recovery rates, ensuring that materials are reintegrated into productive uses whenever feasible. This target therefore c o n s t i t u t e s t h e c e n t r a l c i r c u l a r - e c o n o m y m e t r i c g u i d i n g E D P ’ s p e r f o r m a n c e t h r o u g h o u t t h e s t r a t e g i c cycle. Regarding resource inflows, EDP does not have a target included in the company's business plan, but continues to detail its consumption of key materials necessary for the construction, operation and maintenance of its infrastructure. Reuse is prioritised whenever technically viable, and licensed waste operators are used to ensure that materials are recycled and reintegrated into the economic cycle when disposal cannot be avoided. The methodologies supporting these assessments rely on l i f e - c y c l e - a s s e s s m e n t d a t a , m a p p i n g o f m a j o r e q u i p m e n t p u r c h a s e s a n d h i s t o r i c a l c o n s u m p t i o n t r e n d s , calibrated with correction factors. Internal systems ensure clear documentation of the final destination of materials and prevent double counting across the asset life cycle. E D P a s s e s s e s r e s o u r c e i n f l o w s ( s e e t a b l e b e l l o w ) t h r o u g h a r i s k - b a s e d m e t h o d o l o g i c a l a p p r o a c h t h a t evaluates the material composition of the key equipment used in its projects. This approach focuses on nine priority “enablement equipment”: modules, turbines, inverters, batteries, cables, transformers, poles, r a c k i n g s y s t e m s a n d e l e c t r i c - m o b i l i t y i n f r a s t r u c t u r e . F o r e a c h o f t h e s e , E D P i d e n t i f i e s t h e E S G C o m p o n e n t s o f I n t e r e s t - t h e m a t e r i a l s a n d s u b - c o m p o n e n t s p r e s e n t i n g t h e h i g h e s t E S G r i s k . R i s k factors include the scarcity of raw materials, the presence of critical raw materials, exposure to regions w i t h h u m a n - r i g h t s v u l n e r a b i l i t i e s o r c o n f l i c t , a n d r e l e v a n t r e g u l a t o r y a n d m a r k e t r e q u i r e m e n t s . O n c e t h e s e m a t e r i a l s a r e i d e n t i f i e d , E D P a n a l y s e s t h e l i f e - c y c l e a s s e s s m e n t s ( L C A s ) o f e a c h e q u i p m e n t type to determine the mass share of each Component of Interest. In a final step, EDP calculates total material inflows by combining these mass shares with the actual quantities of enablement equipment to b e d e p l o y e d i n i t s 2 0 2 5 p r o j e c t s . T h i s m e t h o d o l o g y e n s u r e s a t r a n s p a r e n t a n d r i s k - o r i e n t e d EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 112
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u n d e r s t a n d i n g o f m a t e r i a l u s e , s u p p o r t i n g d e c i s i o n - m a k i n g a n d e n a b l i n g t h e i n t e g r a t i o n o f c i r c u l a r i t y considerations in technology planning and procurement. EDP also acknowledges that it does not yet have a methodology capable of quantifying the absolute mass or percentage of secondary (reused or recycled) materials incorporated into equipment, infrastructure or packaging. The development of such methodologies remains a focus area to ensure future alignment with ESRS requirements. R e g a r d i n g r e s o u r c e o u t f l o w s , E D P h i g h l i g h t s i t s r e n e w a b l e - e l e c t r i c i t y g e n e r a t i o n p o r t f o l i o - i n c l u d i n g wind, solar PV and storage technologies - as its primary contribution to circularity. The design of equipment increasingly incorporates circular principles: wind turbines rely on materials that are largely recyclable; solar modules allow recovery of valuable elements such as glass, silicon, aluminium and s i l v e r ; a n d t h e u s e o f v e g e t a b l e - b a s e d i n s u l a t i n g o i l s i n t r a n s f o r m e r s r e d u c e s e n v i r o n m e n t a l i m p a c t s and supports regenerative material cycles. E D P c o n s o l i d a t e s i t s w a s t e - m a n a g e m e n t m e t r i c s b y g a t h e r i n g d a t a directly from all Group companies and geographies through standardized internal reporting processes. Each business unit reports its waste generation and treatment information to the Group, which then compiles and reviews these figures to ensure consistency and accuracy before integrating them into the annual sustainability and integrated reports. This process brings together verified information from across the organization, ensuring that consolidated waste indicators reflect the full scope of EDP’s operations. The type waste materials reported include non-contaminated soil, concrete, sludge, waste electrical and electronic equipment, municipal waste, paper and cardboard, waste oils and liquid fluids, absorbents, plastics and oil filters. E D P a l s o a s s e s s e s t h e p o t e n t i a l f i n a n c i a l i m p a c t s a s s o c i a t e d w i t h c i r c u l a r i t y - r e l a t e d r i s k s a n d o p p o r t u n i t i e s . M a t e r i a l s c a r c i t y , t i g h t e r r e g u l a t i o n , s u p p l y - c h a i n v u l n e r a b i l i t i e s a n d g r o w i n g s t a k e h o l d e r expectations may result in higher investment and operational costs, possible project delays and operational challenges. Conversely, circularity presents opportunities such as reduced lifecycle costs t h r o u g h a s s e t r e p o w e r i n g , n e w r e v e n u e s t r e a m s a s s o c i a t e d w i t h b a t t e r y s e c o n d - l i f e a p p l i c a t i o n s a n d r e c y c l i n g s o l u t i o n s , o p e r a t i o n a l s a v i n g s t h r o u g h w a s t e - r e d u c t i o n m e a s u r e s a n d e n h a n c e d a c c e s s t o s u s t a i n a b l e - f i n a n c e m e c h a n i s m s . T h e s e f i n a n c i a l c o n s i d e r a t i o n s a r e f r a m e d b y a s s u m p t i o n s r e l a t i n g t o technological advancement, stable regulatory conditions, market dynamics and increasing demand for circular solutions, consistent with the broader planning assumptions embedded in the 2026-2028 EDP business plan. Overall total weight of products and technical and biological materials t 1,298,389 Materials t 5,803 Sodium hydroxide t 101 Hydrochloric acid t 875 Sodium hypochlorite t 804 Ammonia t 667 Limestone t 3,270 Acquired oils t 85 Technical products t 1,292,586 Medium voltage transformers t 14,198 Aluminium t 2,078 Steel t 2,260 Silicon t 5,858 Other t 4,002 Modules t 35 Polysilicon t 0.9 Quartz t 0.3 Other t 34 Inverter t 118 Copper t 19 Steel t 6 Other t 93 Tracker t 17,453 Aluminium t 15,952 Steel t 1,501 Resources inflows UN 2025 EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 113
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Batteries t 5,013 Copper t 544 Aluminium t 442 Lithium t 68 Iron ore t 1,469 Natural graphite t 1,020 Steel t 1,469 Turbines t 1,153,846 Steel t 973,179 Copper t 6,927 Other t 173,741 Poles t 101,924 Steel t 10,009 Other t 91,915 Biological products t 0 The methodology for calculating inflows was improved compared to 2024, in order to determine the value of the main critical raw materials of the equipment, which is why values are only presented for 2025. Resources inflows UN 2025 Waste materials t 163,0571 63,993 Waste Hazard waste t 13,158 6,423 Non-hazard waste t 149,899 57,570 Recovered waste t 140,514 55,829 Hazardous waste t 8,715 3,946 Recycled waste t 2,854 2,415 Other t 5,862 1,531 Waste materials UN 2025 2024 Non-hazardous t 131,799 51,883 Recycled waste t 77,225 47,600 Other t 54,574 4,283 Non-recovered waste t 22,543 8,164 Hazardous waste t 4,443 2,478 Landfilling t 3,587 832 Other disposal operations t 871 1,650 Non-hazardous t 18,088 5,687 Landfilling t 17,619 5,406 Other disposal operations t 469 284 Recovered waste materials % 86.2 87.2 Non-recycled waste t 82,978 13,977 Percentage of non-recycled waste % 50.9 22.0 The materials prepared to send to reuse and the total of waste sent to incineration was zero is 2025. Waste materials UN 2025 2024 EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 114 1 T h e i n c r e a s e o b s e r v e d f r o m 2 0 2 4 t o 2 0 2 5 i s d u e t o t h e i n c l u s i o n o f c o n s t r u c t i o n - p h a s e a n d d e c o m m i s s i o n i n g - p h a s e w a s t e g e n e r a t e d o f t h e a s s e t ' s p o r t f o l i o a n d t h e i n c l u s i o n o f c o n t r a c t o r s ’ w a s t e f r o m d i s t r i b u t i o n n e t w o r k s , i n P o r t u g a l
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2.3. European Taxonomy The EU Taxonomy serves as the financial verification framework of EDP's diversified strategy across its three core platforms — Renewables (through EDPR), Electricity Networks, and FlexGen & Clients — ensuring that capital allocation under the 2026–2028 Business Plan (Section 3.2 Strategy) is intrinsically linked to the Group's Net Zero 2040 commitment. The plan targets >98% Taxonomy- aligned CapEx by 2028, channelling investment toward solar, wind, storage, electricity networks modernisation, and enabling activities in markets with strong regulatory frameworks. This strategic integration supports: • Sustainable financing objectives — green financing represents 80% of nominal debt in 2025, targeting >90% by 2028, leveraging Taxonomy alignment as a competitive advantage in debt markets • SBTi-validated decarbonisation targets (section targets and metrics under climate change) • Coal exit completion — with coal-fired generation now residual in the revenue base • R&D investment in enabling activities including green hydrogen and energy storage. EDP's balanced technology mix (2026–28), detailed on the following page, illustrates how capacity expansion is distributed across technologies and geographies, reflecting the Group's preference for visibility and predictability of cash flows. EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 115
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EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 116 Solar PV Solar + BESS2 co-located Wind Onshore Route to Market CfDs | Pay-as-Produced PPAs Route to Market Capacity Tolling Agreements Route to Market CfDs | Pay-as-Produced PPAs Easier permitting vs wind with faster time to market Focused on long term (~20 yr) contracted profile in US, Canada, and Australia limiting merchant exposure Regulated/LT contracting profile improving in Europe Premium in high-solar penetration markets, with hybridization and repowering Mainly in MISO, CAISO, and PJM ~30 yr PPA recently signed for 120 MWac in Michigan Mainly in Poland & Germany; some projects hybridized with wind Utility scale Solar in Japan & DG in Singapore Co-located in Australia with long term highly contracted profile In Europe, standalone or co-located with Wind and Solar US & Canada mainly colocated with Solar, LT contracted for ~20 yr Mainly in Italy, Spain & France Repowering in US North America Europe South America Asia Pacific Capacity Additions Mix 2026-28, % 50% 30% 15% 5% Solar PV Solar + BESS2 Wind Onshore Wind Offshore 2026-28 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 ~5GW Balanced technology mix – focused on low- risk and long term contracted, capturing market dynamics
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2025 taxonomy results EDP presents the following integrated results for 2025, consolidating eligibility, alignment, impact and target metrics: KPI Eligible (%) Aligned (%) Gap* Taxonomy objective Impact indicator Alignment driver 2028 target Turnover 42.0% 38.9% 3.1 p.p CCM Renewable energy produced: 57.4 TWh Expansion of clean energy portfolio; stable cash flows from regulated grid infrastructures Not disclosed* CapEx 93.1% 92.9% 0.2 p.p CCM Avoided emissions: 2 9 . 3 m i l l i o n t C O ₂ e Capital allocation in Solar and Wind generation; grid modernisation and digitalisation (PDIRD- E) >98% CCA Investment in adaptation measures: €209M OpEx 96.0% 94.0% 2.0 p.p CCM Carbon intensity: 51 g C O ₂ e / k W h Operational efficiency in renewable asset maintenance; biodiversity and ecosystem management - Note: The “Gap” column represents the difference between eligible and aligned percentages, indicating activities that are eligible but do not yet meet the technical screening criteria for full alignment. No explicit 2028 target for Aligned Turnover has been publicly disclosed. The 2026–28 Business Plan focuses on CapEx alignment (>98%). Activity 4.9 — Transmission and Distribution of Electricity — is the only activity in EDP's portfolio with a dual substantial contribution to two EU Taxonomy objectives: Climate Change Mitigation and Climate Change Adaptation. Of the 30% of aligned CapEx allocated to this activity, approximately 6 percentage points (€209 million) correspond to adaptation-specific investments, such as the flood- resilient Aldaia substation in Valencia and the deployment of composite material poles across Iberia and Brazil. The Aldaia substation proved its value during the October 2024 Valencia floods, remaining operational and enabling near-immediate supply restoration to approximately 1,900 customers (see Climate Adaptation and Resilience Report 2025). This dual reporting reinforces that grid investment serves as both an enabler of the energy transition and a builder of physical resilience in critical infrastructure. Alignment by activity The following table details the alignment status by economic activity, including the weight of each technology in the three financial KPIs: Technology / NACE code Substantial contribution Turnover weight CapEx weight OpEx weight Alignment status 4.1 Solar Climate Change Mitigation 2.9% 33.8% 6.2% Aligned 4.3 Wind Climate Change Mitigation 11.1% 21.2% 48.1% Aligned 4.5 Hydroelectric (w/out pumping) Climate Change Mitigation 3.7% 1.7% 2.5% Aligned* 4.9 Transmission and Distribution CC.Mitigation + Adaptation CC 19.2% 29.7% 33.9% Aligned 4.10 Hydroelectric (with pumping) Climate Change Mitigation 1.1% 0.2% 0.6% Aligned 4.29 CCGT** Climate Change Mitigation 0.0% 0.0% 0.0% Not Aligned 4.30 Cogeneration** Climate Change Mitigation 0.0% 0.0% 0.0% Not Aligned 7.4 Charging Stations Climate Change Mitigation 0.2% 0.5% 0.0% Aligned 7.6 Decentralised Production Climate Change Mitigation 0.8% 5.9% 2.7% Aligned Total Aligned 38.9% 92.9% 94.0% * E x c e p t i o n : T h e E n e r p e i x e p l a n t ( B r a z i l ) h a s a p o w e r d e n s i t y o f 1 . 7 0 W / m ² , b e l o w t h e 5 W / m ² t h r e s h o l d r e q u i r e d b y t h e T a x o n o m y , a n d i s t h e r e f o r e n o t aligned (Turnover: €71.3M; CapEx: €0.74M; OpEx: not material). 100% of the Iberian hydro portfolio meets the technical screening criteria ** Activities 4.29 and 4.30 are Taxonomy-eligible but not aligned (aligned value = 0); see absolute eligible values in the Turnover Breakdown table below. EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 117
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Turnover breakdown by taxonomy status — absolute values (million euros) Technology / NACE code Eligible Aligned Not aligned Not eligible 4.1 Solar 446 446 0 0 4.3 Wind 1,732 1,732 0 0 4.5 Hydroelectric (w/out pumping) 650 578 71 0 4.9 Transmission and Distribution 2,997 2,997 0 0 4.10 Hydroelectric (with pumping) 169 169 0 0 4.29 CCGT 410 0 410 0 4.30 Cogeneration 3 0 3 0 7.4 Charging stations 26 26 0 0 7.6 Decentralised production 119 119 0 0 Non-eligible activities Coal 0 0 0 69 Other non-eligible activities 0 0 0 8,987 Total 6,551 6,067 484 9,056 Of the €6,551m in eligible turnover, 92.6% is fully aligned, driven by wind generation (€1,732m), electricity transmission and distribution (€2,997m), and decentralised renewable installations (€119m). The eligible-but-not-aligned portion (€484m) is almost entirely attributable to Activity 4.29 — CCGT (€410m), which provides dispatchable capacity for grid balancing but does not meet the Taxonomy's lifecycle emissions threshold. As the Group's storage portfolio (Activity 4.10, €169m aligned) scales under the 2026–28 business plan, the operational weight of these assets is expected to decline. Activity 4.30 — cogeneration (€2.7m) — is immaterial. On the non-eligible side, coal revenues (€69m, 0.4% of total) reflect the final stage of the coal exit, while €8,987m corresponds to electricity and gas retail activities in Iberia — structurally outside the Taxonomy's current scope but integral to EDP's role as enabler of end-consumer electrification. Evolution of taxonomy KPIs 2024-2025 and CapEx forecast Turnover Despite the continued strategic relevance electricity distribution activity (4.9) - supported by expansion of the regulatory asset base (RAB) in Portugal and Spain and by increased electricity demand reflecting the growing electrification of consumption - overall aligned turnover decreased by 6.3 pp (from 45.2% to 38.9%), driven by two combined effects: • A reduction in aligned revenues (-704M€, -10.4%), primarily from lower renewable generation r e v e n u e s i n E u r o p e ( - 5 6 5 M € ) d u e t o l o w e r a v e r a g e s e l l i n g p r i c e s ( − 1 3 % Y o Y ) , p a r t i a l l y o f f s e t b y higher generation volumes, and • A proportionally higher growth of non-eligible activities (+1,194M€), notably electricity and gas retail revenues in Iberia, which significantly increased the total revenue base. This evolution does not diminish the strategic role of distribution grids, which reinforce EDP’s position as an enabler of the energy transition, providing critical infrastructure for the integration of renewable energy and for the electrification of homes, businesses and mobility. CapEx CapEx alignment remained broadly stable at 92.9% (-0.4 pp vs 2024), maintaining one of the highest alignment levels in the European energy sector. The CapEx allocation reflects the balanced technology mix defined in the 2026–28 business plan, underpinned by the Group’s contracted revenue strategy that limits merchant exposure and reinforces Taxonomy alignment. Wind and Solar represent 59.2% of aligned CapEx, alongside Power Grids at 31.9%, confirming the continued execution of the decarbonisation strategy. The residual non-aligned portion (7.1% of total CapEx) corresponds primarily to CCGT activities (4.29), holding company operations and other activities that do not qualify as taxonomy-eligible. The Group's CapEx trajectory remains on track to meet the 2028 target outlined above, supported by the investment plan in section 3.2 Strategy and by the planned completion of the coal exit. OpEx OpEx alignment improved significantly to 94.0% (+7.1 pp vs 2024), primarily driven by a refined methodology in 2025 that directly links operational expenditure to respective business segments, EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 118
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resulting in a more accurate allocation of taxonomy-aligned OpEx. This methodological improvement led to a material reduction in the total OpEx base (-28.7%), with non-aligned and non-eligible expenditure declining disproportionately (-67.4%), notably through lower CCGT maintenance costs (-29M€) . The continued focus on operational efficiency and digitalisation of maintenance processes across both the renewables and networks platforms also contributed to the improvement. Evolution of Taxonomy KPIs 2024-2025: EDP alignment with EU Taxonomy (%) 45.2% 93.3% 86.9% 38.9% 92.9% 94.0% 2024 2025 Turnover CapEx OpEx CapEx alignment forecast (2025-2028) 93.3% 92.9% 98.1% 2024 2025 2028 Target Do No Significant Harm (DNSH) compliance EDP verifies DNSH compliance with all six environmental objectives of the Taxonomy. Evidence is documented in the relevant topical sections: • Climate adaptation: 2.1 Climate change and Climate Adaptation and Resilience Report 2025 • Water resources: 2.2 Nature and resource management - 2.2.1 Water • Circular economy: 2.2.3 Resource use and circular economy • Biodiversity: 2.2.2 Biodiversity and ecosystems • Pollution prevention: 2.2 .Nature and resource management - environmental management system (ISO 14001) The summary compliance table is presented below. Activity Code CCM CCA WMR CE PPC BIO Solar PV 4.1 N/A Y N/A Y N/A Y Wind 4.3 N/A Y N/A Y N/A Y Hydro 4.5 N/A Y Y N/A N/A Y T&D Electricity 4.9 N/A Y N/A Y Y Y Storage 4.10 N/A Y Y N/A N/A Y EV Charging 7.4 N/A Y N/A N/A N/A N/A Renewable Installation 7.6 N/A Y N/A N/A N/A N/A CCGT 4.29 Not aligned - - - - - Cogeneration 4.30 Not aligned - - - - - Legend: Y — DNSH criteria met | N/A — Not applicable (activity makes a substantial contribution OR the objective is not relevant for the activity) | CCM — Climate Change Mitigation | CCA — Climate Change Adaptation | WMR — Water and Marine Resources | CE — Circular Economy | PPC — Pollution Prevention and Control | BIO — Biodiversity and Ecosystems EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 119
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Minimum Safeguards compliance EDP confirms compliance with Article 18 requirements, operating in accordance with OECD Guidelines, UN Guiding Principles, ILO Declaration, and International Bill of Human Rights. In this regard, the topic of Human Rights Due Diligence is specifically addressed in the section 3.2 – Supply chain management. Detailed governance frameworks, including ISO 37001 certification, Supplier code of conduct, and grievance mechanisms, are presented in section 4.1 Business conduct. Taxonomic assessment methodology The taxonomic classification process follows a sequential protocol of three interconnected stages: i. Eligibility analysis • Identification of economic activities that correspond to Taxonomy descriptions • Mapping of portfolio against the applicable Delegated Regulations, including Delegated Regulation (EU) 2021/2139 (Climate Delegated Act), Delegated Regulation (EU) 2022/1214 (Complementary Delegated Act on gas and nuclear), and subsequent amendments and complementary regulations. ii. Verification of Technical Screening Criteria • Assessment of Substantial Contribution (SC) to environmental objectives • Verification of DNSH principle for all applicable objectives • Documentation of technical evidence by activity and geographical location. iii. Confirmation of Minimum Safeguards • Guarantee of compliance with international social and governance standards • Verification of corporate policies and certifications • Analysis of potential litigation and implementation of preventive measures. Regulatory compliance and regulatory framework This report has been prepared in accordance with the regulatory framework of the European Union Taxonomy: • Regulation (EU) 2020/852 (Taxonomy Regulation) • Delegated Regulation (EU) 2021/2178 (Disclosure requirements) • Delegated Regulation (EU) 2021/2139 (Technical screening criteria) • Delegated Regulation (EU) 2022/1214 (Nuclear and gas activities). This document also ensures alignment with the Corporate Sustainability Reporting Directive (CSRD) and the ESRS standards, reflecting Commission guidance (C/2023/305 and C(2023) 3850/3851). EDP has chosen to apply the simplified rules introduced by the Omnibus Package published in the Official Journal of the European Union (OJ L 73, 2026). The reporting tables have been prepared in accordance with Omnibus templates, prioritising material quantitative information and ensuring comparability and verifiability of data. For detailed technical information on eligibility criteria, substantial contribution and DNSH verification by technology, see Annex 2.5.: Methodological Notes and Technical Evidence of the European Taxonomy. EDP Integrated Annual Report 2025 Sustainability Statement | Environment Index 120
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EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 121 Index Social03. SUSTAINABILITY STATEMENT 3.1. Own workforce 122 3.2. Supply chain management 153 3.3. Affected communities 164 3.4. Resilient services 173 Blue Harvest solar park | Ohio, USA
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3. Social 3.1. Human capital EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 122 At EDP, people are fundamental to achieving the energy transition and sustainable value creation. The Group recognises that success depends on a motivated, skilled, diverse, and resilient workforce, with well-being, safety, and belonging as core priorities across all geographies and business areas. EDP fosters positive impacts through diversity and inclusion initiatives, fair career opportunities, and requalification programmes. These practices enhance innovation, strengthen talent attraction and retention, and support workforce adaptability to evolving skill requirements driven by the energy transition. Collective bargaining structures in Portugal, Spain, and Brazil ensure meaningful employee engagement and voice. Health and safety represents a non-negotiable priority, guided by the strategic objective of achieving zero accidents and no personal injuries. The PlayitSafe programme operates across six strategic pillars, including leadership commitment, safe behaviours, digitalisation, and contracting chain management. Mental health awareness is embedded through systematic psychosocial risk assessments and support programmes, reinforcing that safety encompasses both physical and psychological well-being. Negative impacts are addressed through systematic mechanisms. Wage disparity is managed via regular remuneration reviews and equity analyses within the Global Compensation Framework. Well-being culture is supported through workload monitoring, flexible working arrangements, and holistic programmes. Health and safety risks are mitigated through ISO 45001-certified management systems covering 10,148 employees and preventive measures across the value chain. Digital transformation and AI are core levers for unlocking value across fieldwork management, customer operations and workforce productivity. Guided by the motto to "Turn data into power and intelligence into action", continuous learning and AI literacy campaigns present major opportunities for workforce advancement, with the "Think With AI" Program launched in 2025 having reached 7,800+ employees using GenAI tools regularly and 6.400+ employees upskilled. Alongside, an AI Business Roadmap is accelerating AI products across business to augment employee capabilities and enhance productivity, reinforcing a people-first philosophy where technology unlocks human potential.
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Performance tracking reported from EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 123 Policies and guidelines Code of ethics Human and labour rights policy Integrity policy Diversity, equity, inclusion & belonging policy Implement a skills-based organisational model to ensure fair, transparent, and merit-based access to development, mobility, and career progression Actions Equal treatment and opportunities Health and safety at work policy Responsible AI policy Promote decent and flexible working conditions through hybrid work models, flexible schedules, and well-being initiatives that support work–life balance Working conditions Prevent serious injuries and fatalities through Play it Safe, reinforcing life-saving rules, proactive risk identification, and a strong safety culture across all operations Health and safety Deliver AI solutions focused on boosting efficiency, while increasing employee productivity powered by technological innovation Digital transformation and AI leadership diversity Index2 >75% employee engagement >HP 90% employees' digital upskilling plan completion (performance tracking reported from 2026 onwards) 73% employee engagement -7 pp vs HP3 companies 78% serious injuries and fatalities4 0 serious injuries and fatalities 3 fatalities 2028 targets 3 1 1 Business Plan target updated following a revision to the calculation methodology. 2Composite indicator measuring gender, nationality and age diversity within leadership positions. 3 High-performing companies. 4 Employees and contractors. 12 2025 status leadership diversity Index2
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ESRS 2 SBM-3 Impacts, risks and opportunities Equal treatment and opportunities Material IRO Time-horizon Definition Diverse and inclusive workplace Actual positive impact Opportunity Own operations Short-term (opportunity) Impact: Creating a workplace that embraces diversity fosters financial stability, sustainable growth, social integration, and a more inclusive society Opportunity: Promoting diversity and inclusion across gender, disability, and generational backgrounds enhances innovation, productivity, decision-making, and strengthens talent attraction and retention Fair and equal career opportunities Actual positive impact Opportunity Own operations Medium-term (opportunity) Impact: Fair and equal career opportunities, combined with career paths, mentorship, and leadership development boost motivation, purpose, growth, and workforce well-being Opportunity: Accountability, recognition, and fair opportunities attracts diverse talent, fosters innovation, ensures long-term success and mitigates the risk of knowledge loss during employee turnover Requalification and job creation Actual positive impact Opportunity Own operations Medium-term (opportunity) Impact: Reskilling initiatives reduce unemployment and stimulate growth Opportunity: Led reskilling and job creation initiatives to boost talent effectiveness, support energy transition, and enhance EDP’s reputation through a strategic, skills-based workforce approach Wage disparity Actual negative impact Own operations - Wage disparities based on identity factors perpetuate financial inequality, limit career growth, and reduce job satisfaction, motivation, and productivity Working conditions Material IRO Time-horizon Definition Association, collective bargaining, and worker engagement Actual positive impact Upstream, own operations , downstream the value chain - Association, collective bargaining, and worker engagement empower employees to negotiate better conditions, enhance communication, and improve job security, professional development, and satisfaction. Flexible working setups Opportunity Own operations Short-term Adaptable work arrangements increase satisfaction, a better work-life balance and productivity Failure to meet a wellbeing culture Actual negative impact Own operations - Failing to prioritize reasonable working hours and discouraging work overload can lead to increased stress and burnout, harm work-life balance EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 124
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Health and safety Material IRO Time-horizon Definition Injuries and illnesses Actual negative impact Upstream, own operations, downstream the value chain - Inadequate health and safety measures lead to injuries and illnesses, which can result in harmful consequences for individuals' safety Safety culture Actual positive impact Opportunity Own operations, downstream Medium-term (opportunity) Impact: Safety initiatives reduce accidents and ensure a healthy work environment Opportunity: Promoting safety culture, training and addressing mental health issues in the workplace allows EDP to protect employees, enhance well-being, ensure compliance, attract talent, and drive sustainable growth Mental issues awareness Actual positive impact Own operations - Initiatives focusing on mental health reinforce the importance of addressing the issue in a transparent way, calling for preventive behaviour. Such initiatives may involve the assessment of psychosocial risks, preventive health care programs or employees social support programs Digital transformation and AI entity specific Material IRO Time-horizon Definition Increasing employee productivity as a result of technological innovation Opportunity Upstream, own operations Medium-term Increases employee knowledge and productivity, improving motivation and work-life balance AI products & efficiency Opportunity Upstream, own operations Medium-term Digital transformation and AI products are driving global solutions across EDP, enhancing synergies, cost efficiency and productivity. AI facilitates the restructuring of business models, the optimisation of processes, automation, and data-driven innovation, resulting in business and process efficiency EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 125
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S1.SBM-3 Integration in strategy and business model At EDP, people are the heart of the strategy, with well-being, safety, and a sense of belonging as core priorities. The Group recognises that the success of the energy transition and sustainable value creation depends on a motivated, skilled, diverse, and resilient workforce. EDP promotes positive impacts on employees while actively managing potential negative impacts arising from organisational change, digitalisation and the energy transition. Material positive impacts • Diverse and inclusion workplace: EDP fosters a diverse and inclusive working environment through global diversity and inclusion policies, non-discrimination principles, and initiatives that foster respect, equal opportunities, and collaboration across different geographies, generations, and professional backgrounds. These initiatives positively affect employees across the Group, contributing to a culture of belonging • Fair and equal career opportunities: EDP ensures fair and equal career opportunities through transparent and merit-based people and organization processes (e.g., recruitment, performance assessment, career progression, and remuneration processes). These practices aim to prevent structural inequalities and support the professional development of employees across different roles, functions, and career stages • Requalification and job creation: The energy transition and the expansion of renewable energy activities drive the creation of new roles and evolving skill requirements. EDP invests in training, upskilling, and reskilling programmes to support employee requalification and internal mobility, positively impacting employees in roles transforming as well as those entering emerging functions • Social dialogue and engagement: Through mechanisms such as the annual Employee Engagement Survey and the biennial ethics study, EDP fosters meaningful dialogue and participation. Association and collective bargaining empower employees to identify and negotiate a set of various topics regarding working conditions, while consultation and engagement initiatives strengthen communication, job security, and professional development. By actively involving employees in decision- making, EDP creates a positive work environment that enhances labour practices and overall satisfaction • Safety Culture: EDP considers Safety Culture a fundamental pillar of its approach to Occupational Health and Safety, integrating it across all areas and geographies where it operates. This concept goes beyond compliance with rules and procedures: it represents the integration of safety into the organization’s values, decision-making, and daily practices. The company fosters a culture in which safety is a shared responsibility, encouraging preventive behaviours and the proactive adoption of measures that protect the physical and mental wellbeing of all professionals. As part of this commitment, EDP implements initiatives such as the Play it Safe program, which reinforces safety culture through awareness, training, and engagement activities that promote responsible behaviours in every workplace scenario • Mental issues awareness: EDP recognizes that the psychological wellbeing of its employees is an essential element in creating a healthy, productive, and sustainable work environment. In this regard, awareness of mental health issues and the systematic assessment of psychosocial risks play a central role in its people management strategy. The company regularly conducts processes for the diagnosis and management of psychosocial risks, aligned with the recommendations of the European Agency for Safety and Health at Work. These processes make it possible to identify factors such as excessive workloads, tight deadlines, interpersonal conflicts, lack of autonomy, or insufficient work- life balance. Opportunities These positive impacts generate opportunities for both the workforce and the organization, including the promotion of a diverse and inclusive workplace, fair and equal career opportunities, requalification and job creation, and flexible working setups. These opportunities enhance innovation, engagement, and talent attraction across EDP and support workforce adaptability in the context of the energy transition. While applicable to the workforce, their relevance may be greater for certain employee groups depending on role, geography, or life stage. Still considering our workforce advancement and now focusing on the Digital Transformation and AI perspective, we’ve built a robust Data & AI Strategy anchored in a priority AI roadmap, ranging from Field Work Management to Operations Hyper-Automation, supported by a Change and Upskill Program and Foundations as key enablers. The main opportunities to highlight in this area include increasing employee productivity as a result of technological innovation and also delivering AI products aiming to reshape transformation journeys in key business processes like weather forecasting and remote operations. These avenues are particularly relevant in contributing to create value for the Group, accelerate the energy transition and also to our people’s overall wellbeing, being as such recognized by EDP as major opportunities to pursue, therefore fully embraced across the Group and considered a key component within our business strategy. Material negative impacts As material negative impacts, EDP recognizes the following: • Failure to meet a well-being culture: operating in a global and highly dynamic energy sector, EDP faces the challenge of ensuring reasonable working hours and preventing work overload, particularly in high-pressure roles or during periods of organisational transformation. If mechanisms to embed well- being principles are absent or ineffective, this can lead to EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 126
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increased stress, burnout, and poor work-life balance, negatively impacting morale, commitment, and overall health. This impact is significant because it compromises employees’ physical and mental well-being, with potential long-term consequences for organisational resilience and talent retention. EDP addresses this issue by implementing policies and programmes that promote well-being, monitoring workloads, and encouraging practices that support balance and psychological safety across all regions • Wage disparity: at EDP, differences in remuneration may arise due to organisational complexity, role differentiation, historical structures, or local labour market conditions across the multiple geographies where the company operates. If not properly managed, these disparities can affect perceptions of fairness, employee morale, and engagement, potentially leading to reduced productivity and talent retention challenges. This impact is material because it can disproportionately affect certain employee groups depending on role distribution and local contexts, creating systemic inequalities that undermine inclusion and equal opportunity. To address this, EDP conducts regular remuneration reviews, internal equity analyses, and alignment with external market benchmarks, supported by governance processes designed to promote fair and equitable pay practices throughout the organisation • Injuries and illnesses: EDP regards occupational injuries and illnesses as a significant material negative impact, potentially affecting employees, contractors, and communities. To prevent and mitigate these risks, the company adopts leading health and safety management systems, promotes continuous training, conducts inspections and audits, invests in technology, and analyses accident indicators to implement corrective and preventive measures, thereby reducing the frequency and severity of incidents. These impacts are considered material due to their potential effect on employees’ physical and mental well-being, job security and long-term employability. They are managed at the Group level through global policies, with local adaptations where required, and are not associated with specific incidents during the reporting period. Strategic transformation and workforce scope EDP is driving steady global growth by placing electrification at the centre of progress and delivering clean, secure, and affordable energy for people, businesses, and communities worldwide. Guided by the current business strategy, EDP is focused on expanding renewable energy, strengthening more resilient networks, and investing responsibly to create lasting value. While this transformation supports a cleaner and smarter energy system, it also brings workforce challenges, such as the phasing out of certain roles and evolving skill requirements. To address these impacts, EDP has implemented measures centred on reskilling, upskilling, internal mobility, and redeployment, as detailed in the Actions chapter, ensuring employees are supported and promoting a fair and inclusive transition. All employees in EDP’s own workforce are included in the scope of our disclosures. EDP’s workforce includes employees (all people with a fixed-term or permanent employment contract with EDP or one of its subsidiaries) and does not include self-employed people or people provided by third-party undertakings, primarily engaged in employment activities. Within the scope of occupational health and safety at EDP, material negative impacts correspond to serious and fatal incidents that cause harm to internal employees, service providers, and company assets. The management of these events is carried out in a structured manner, through the rigorous implementation of corrective and preventive measures. This procedure aims to ensure the protection of people, the reduction of losses, and the continuous strengthening of the organisational safety culture. At EDP, the promotion of occupational health and safety is ensured through a set of structured initiatives that generate both direct and indirect positive impacts for the entire workforce. Of particular note is the PlayitSafe programme, which aims to enhance EDP Group’s safety culture, reduce workplace accident rates, eliminate serious and fatal incidents, and improve external recognition of EDP’s performance in Occupational Health and Safety. PlayitSafe operates across the entire Group, fostering the company’s and its procedures’ continuous improvement, with a special focus on accident prevention. Accordingly, the work underpinning this project has been organised around six priority areas, which are essential to achieving the goal of reducing accident rates. These are: • The commitment and involvement of our leaders in Prevention and Safety • The promotion of safe behaviours and learning from mistakes • The digitisation of processes and operations • The strengthening of competencies in Prevention and Safety • Communication and engagement with Prevention and Safety • The management of the contracting chain. Additionally, activities are carried out such as systematic risk monitoring and prevention, awareness campaigns, technical and behavioural training sessions, regular audits and inspections, enhanced safety signage, technological updates of equipment, and the ongoing improvement of working conditions. These actions consolidate the safety culture as a core value at EDP, contributing to the reduction of accidents, the preservation of health, and the protection of assets and operations. Risks or potential risks to which employees may be exposed are identified in a comprehensive manner through various areas of expertise: safety, health, wellbeing, or diversity, equity, and inclusion. An understanding of the increased risks for workers with specific characteristics, contexts, or activities is ensured by means of clear EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 127
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policies, regulatory procedures, and mandatory training. The identification and assessment of risks, as well as the definition of prevention and control measures, take into account these specific characteristics, contexts, or activities. Training programmes are promoted, and incident analysis are carried out to foster continuous improvement. This integrated approach strengthens the understanding of risk and the creation of a safe environment for all. EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 128
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EDP identifies and manages risks and opportunities related to specific groups within the workforce through a systematic approach based on the ISO 45001:2018 standard. This methodology includes the analysis of routine and non-routine activities, social factors, work organisation, and physical conditions, ensuring that potential impacts on employees are anticipated and mitigated. Occupational risk assessments and action plans are conducted, encompassing measures such as training and health programmes. Furthermore, opportunities for continuous improvement are promoted through the implementation of policies and practices that strengthen the safety culture, such as the introduction of accident prevention initiatives. This integrated management ensures that residual risks are reduced to acceptable levels and that the company’s strategies address the unique needs and challenges faced by different segments of the workforce. S1.MDR-P | S1-1 Policies EDP manages material impacts, risks, and opportunities related to its own workforce through a set of Group-wide policies that apply across all EDP Group companies, employees, and relevant business relationships. These policies establish the overarching governance framework for workforce-related matters and are approved at Executive Board level where specified. Workforce-related policies are communicated internally and, where specified, externally, and apply across all EDP Group companies and geographies, irrespective of local practices or levels of social and economic development. Approach to the rights of the own workforce EDP’s approach to the rights of its own workforce is anchored in Group-wide conduct and ethics frameworks, including the Code of Ethics, Human and labour rights policy and the Integrity policy. These policies apply to all employees and set out principles and rules governing ethical conduct and labour practices across the Group, providing guidance on behaviour and decision-making, including fair treatment, respect for human rights, safe working conditions, and equal opportunities. Further details are disclosed in the Business conduct chapter. Within this framework, EDP’s approach to human and labour rights is based on compliance with applicable international conventions and national legislation in all countries where it operates. Internal policies, procedures, and governance mechanisms support the identification, prevention, mitigation, and remediation of human and labour rights risks and apply to all employees, including provisions for groups with specific characteristics or heightened vulnerability where relevant. These principles are formalised through the Human and labour rights policy, approved by the Executive Board of Directors in July 2021. The policy applies to all EDP Group companies, employees, business relationships, and activities in all geographic locations and aligns with internationally recognised frameworks, including the Universal Declaration of Human Rights, the UN Guiding Principles on Business and Human Rights, the UN Global Compact, the OECD Due Diligence Guidance for Responsible Business Conduct, and core International Labour Organization conventions. The Human and Labour Rights Policy defines responsibilities and processes related to due diligence and training. It includes principles recognising stakeholders and EDP’s commitment to engage constructively with stakeholders affected by its activities. Diversity, Equity and Inclusion EDP Group maintains a comprehensive Diversity, Equity, Inclusion and Belonging (DEIB) policy, which is critical to managing material impacts, risks, and opportunities related to its workforce. This policy applies to all members of the workforce, including specific groups with unique needs and challenges (e.g., women, people with disabilities, different generations and nationalities or culturalities). This policy is overseen by the Head of People & Organisation, with the Executive Board member responsible for this function holding the most senior role. The policy aims to promote equal opportunities, ensuring each person is treated fairly, has access to equal opportunities and feels valued and supported. It explicitly prohibits all forms of discrimination within the organization (e.g. racial and ethnic origin, colour, sex, sexual orientation, gender identity, disability, age, religion, political opinion, national descent or social origin). EDP Group is deeply committed to fostering inclusion and taking positive action to support individuals from groups at particular risk of vulnerability. These commitments are embedded in DEIB Policy and are supported by concrete positive measures and actionable targets to ensure measurable progress. Key commitments include: • gender equality: achieving 29% female representation by 2028 across the workforce, with an additional focus on ensuring 28% of leadership roles are held by women. Reflecting the group's dedication to closing gender gaps at all levels EDP has implemented the Gender Equality Plan, a document regulated by law that complements DEIB´s Policy and define concrete action plan for the promotion of equality between men and women in EDP Group. EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 129
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• inclusion of people with disabilities: reaching 2% representation of people with disabilities, supported by workplace accommodations and tailored initiatives to promote accessibility and equal opportunities. • leadership diversity: ensuring more than 75% of leadership positions reflect representation across multiple diversity dimensions as gender, nationality and generation/age, recognizing the importance of diverse perspectives in decision-making. EDP also implements other procedures and initiatives to prevent, mitigate, and take action upon detected discrimination across workforce, ensuring inclusive recruiting practices to minimize unconscious bias, providing comprehensive training on EDP’s DEIB Policy and Ethics Policy and promoting the coexistence of generations. EDP employs active listening mechanisms, such as anonymous reporting tools and Employee Engagement Survey, along with proactive risk assessments, to identify and resolve potential issues early on. Incidents of discrimination are investigated promptly, and appropriate corrective actions are taken. Dedicated support systems, such as DEIB representatives and employee resource groups (ERGs), are also in place to ensure justice. Furthermore, strategic initiatives such as leadership workshops and targeted outreach campaigns help drive progress in diversity, while continuous improvement is achieved through insights gained from audits and feedback. This structured, multi-faceted approach ensures that EDP Group’s policies effectively prevent and address discrimination while driving significant progress towards a more diverse and inclusive workplace. EDP's policies also cover harassment as described in Business conduct chapter. Health and safety EDP manages material impacts, risks, and opportunities related to health, safety, and well-being through Group-wide policies applicable across all companies, geographies, and operations. Central to this framework is the Health and Safety at Work Policy, approved by the Executive Board of Directors in June 2025. This policy applies to employees, contractors, suppliers, service providers, customers, and other stakeholders, supporting the strategic objective of achieving “zero accidents, no personal injuries”. The policy is communicated and available both internally and externally to support consistent application across the Group. The Health and Safety at Work Policy is aligned with applicable legislation, ISO 45001:2018, and International Labour Organization guidance (including ILO OSH 2001 and Convention No. 155). It establishes the framework for providing safe working conditions based on principles of prevention, risk identification and control, training, and the integration of safety requirements across the value chain. EDP considers the health and safety of all stakeholders a fundamental value, promoting a positive, collaborative, and participatory safety culture. This approach ensures appropriate conditions to address changes in work requirements and is operationalised through the Corporate Safety Management System (CSMS). Certified by Lloyd’s Register, the CSMS defines procedures to integrate prevention into organisational processes, protect workers against health hazards and diseases, reduce losses from occupational incidents, and disclose management practices to interested parties. Furthermore, employee well-being is addressed through policies that promote a healthy, respectful, and inclusive work environment, encompassing physical, mental, emotional, social, and financial well-being. These policies explicitly address work-life balance, flexible work models, the right to disconnect, psychological safety, and open communication. In 2025, the EDP Group accounted for a total of 10,148 employees covered by ISO 45001:2018 certification, distributed as follows: Employees covered by ISO 45001:2018 certification1 Geography UN 2025 2024 Iberia # 7,465 7,648 South America # 1,124 1,232 North America # 1,012 999 Rest of Europe # 299 340 Asia-Pacific # 248 296 Total # 10,148 10,515 Iberia % 99 99 South America % 36 38 North America % 100 94 Rest of Europe % 73 54 Asia-Pacific % 74 80 Total % 82 81 EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 130 1 The values reported do not include the EDP Foundation and EDP Institute and include trainees.
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Digital transformation and AI In addition to workforce-specific policies, our Foundation Strategy enabled a governance framework at EDP that includes policies concerning the responsible use of artificial intelligence and a robust data governance and quality framework, all of which apply across the Group as a whole, creating a bedrock of trustworthiness to enable digital and AI at scale. The Responsible AI Policy establishes a Group-wide framework aligned with the EU AI Act and international standards, and also with legal obligations across major jurisdictions, applying to all AI systems and models developed, acquired or used across EDP, as well as to all employees and third parties who access or interacts with EDP’s AI products. It includes a centralized registry of AI systems and models, a cross-regional risk scale and a three-tiered governance model covering development compliance, risk and regulatory standards, with continuous monitoring and maintenance, periodic reviews and independent assurance by Internal Audit, lifecycle documentation in a central inventory under the cross-functional oversight of a Responsible AI Committee, ensuring ethical usage and compliance of AI products with evolving regulations, as approved and overseen by the Executive Board of Directors. Additionally, data governance and data quality are addressed at EDP by the Data Governance Framework, which defines data ownership, least-privilege access, single sources of truth and data quality requirements, supporting strong governance, regulatory compliance and the secure, responsible and transparent democratization of data usage across the Group. S1-1 | S1-2 | S1-3 Listening and engaging with our workforce At EDP, we believe that listening to our people is essential for building a resilient and motivated organisation. By valuing employees’ perspectives and feedback, we continuously improve our processes and ways of working. This commitment ensures that insights from the workforce inform decision-making and shape actions across the company. Workforce engagement at EDP is overseen by the Head of People & Organisation, with the Executive Board member responsible for this function holding the most senior role. Speak Up channel The Speak Up channel provides a confidential and secure mechanism for employees and other stakeholders to raise concerns, or report potential misconduct, ensuring that matters are handled in a fair, consistent and structured manner. The governance, scope and procedures of this channel are further detailed in the Business conduct chapter. Employee engagement survey The annual Employee Engagement Survey serves as the primary mechanism for gathering comprehensive feedback, assessing multiple dimensions of the employee experience and driving action plans at corporate, regional, and team levels. Through a comprehensive questionnaire, the Employee Engagement Survey gathers employees' perceptions across 18 dimensions, evaluated on a scale from 1 (strongly disagree) to 5 (strongly agree): Employee Engagement, Empowerment, Clarity of Direction, Collaboration, Development Opportunities, Diversity and Inclusion, Ethics & Integrity, Flexibility (for compatible roles), Immediate Manager, Organizational Model, Pay & Benefits, Performance Management, Purpose & Sustainability, Quality & Client focus, Resources & Support, Safety, Survey Action and Well-being. Each dimension comprises various questions, such as “I feel proud to work for EDP”, “My work gives me a sense of personal accomplishment”, “My job makes good use of my skills and abilities”, “The stress levels at work are manageable”, among others, in a total of 75 questions. Conducted with an external digital platform that ensures data confidentiality and integrated processing of the collected information, the methodology enables analysis of the annual evolution of indicators, internal comparisons, and comparisons with the market, namely general industries, companies within EDP’s sector and high-performing companies, allowing the organization to identify areas of high satisfaction and uncover opportunities for improvement, to enhance the employee experience on a global, regional, and team level. Participation is voluntary and anonymous and has reached a rate of 93% in 2025, showing the strong interest of employees in expressing their feedback.The results are shared across the organization: 1) with the Executive Team for strategic planning of priorities and follow-up actions; 2) with team managers so that they can promote honest dialogue and concrete improvement actions within their respective teams; and 3) with all employees so that they can learn about the results and actively engage in follow-up initiatives. To keep employees informed of the measures taken, different internal channels are used, namely the Intranet, Newsletters, Global Communities and the respective People & Organization (P&O) Business Partners and meetings dedicated to P&O topics. Employee experience feedback mechanisms Regular pulse surveys and feedback tools are embedded across the employee experience - covering recruitment, onboarding, internal mobility, and offboarding stages. These initiatives foster proximity, EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 131
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reflection, and continuous improvement. In addition, ad-hoc surveys are launched whenever necessary to address specific topics or emerging priorities. Additionally, after flagship company campaigns such as Mind Your Mind and Well-Being Moments, which promote a healthy and inclusive workplace, two complementary feedback approaches are usually taken. First, structured lessons learned sessions focus on operational aspects at the project management level - such as planning, logistics, and execution - to improve future campaigns. Second, employee feedback is gathered through surveys and discussion forums to gauge satisfaction and collect ideas that inspire new initiatives, ensuring continuous enhancement of well-being and engagement programmes. A key example was the global Well-Being survey, which invited employees to reflect on four years of EDP’s well-being strategy, highlighting achievements, challenges, and opportunities for improvement. The survey focused on global benefits and requirements linked to efr certification, reinforcing EDP’s commitment to a balanced, flexible, and responsible work environment. Participation was anonymous and confidential, ensuring trust and inclusivity. Insights from this survey informed the new cycle of EDP’s Well-Being strategy 26-28, shaping initiatives that respond to employees’ evolving needs. Extending this feedback culture beyond the employee lifecycle, EDP also regularly surveys candidates participating in recruitment processes. These questionnaires aim to understand candidates’ perceptions of fairness, transparency, inclusiveness, and communication throughout the selection process, enabling continuous improvements to the recruitment experience and reinforcing EDP’s commitment to equal opportunity and respectful treatment for all applicants. Representative structures and unions EDP maintains continuous dialogue with employee committees and with trade unions via plenary and bilateral meetings, addressing topics relevant to business operations and workforce well-being. Approximately 79% of employees are covered by collective labour agreements, with strong representation in Portugal, Spain, and Brazil. These agreements safeguard workers’ rights and are complemented by internal auditing mechanisms to ensure compliance. • Portugal: One agreement covers 99% of employees • Spain: Two agreements (III Convenio Colectivo EDP España and IV Convenio Colectivo Marco Grupo Viesgo) cover 61% of employees • Brazil: Twelve collective agreements and ten Profit Sharing Agreements (PLR) cover 99% of employees. Trade unions maintain direct channels with employees to gather demands and address concerns during negotiation cycles. Labour Relations teams and P&O Business Partners act as focal points for dialogue, ensuring compliance, social peace, and alignment of interests. Other employee engagement and listening initiatives EDP promotes multiple engagement mechanisms designed to foster proximity, participation, and co- creation across the organization. These include Focus Groups (e.g., EDP Ambassadors program with employees) as well as transversal and multidisciplinary working groups, which provide spaces for reflection, dialogue, and the sharing of ideas, contributing to the definition of concrete measures and strategies that respond to the real needs of both employees and the organization. People & Organization (P&O) Business Partners act as a direct and trusted point of contact for employees, listening to concerns or complaints related to employment conditions and contractual compliance, and facilitating constructive dialogue between employees and management. Additional engagement is driven through Employee Resource Groups (ERGs) and the DEIB Council, which play a key role in shaping and implementing strategic DEIB initiatives across the organization. These structures are complemented by digital communities and collaboration platforms that connect employees across geographies, functions, and shared interests, fostering peer support, knowledge exchange, and a stronger sense of belonging. Through these communities, employees are encouraged to engage around topics such as inclusion, well-being, sustainability, innovation, and cultural diversity, strengthening internal networks and collective engagement. Depending on each country's legislation, the EDP Group companies include the participation and consultation of employees in their safety management system. Furthermore, EDP Group’s OHS Regulation provides for the setting up of OHS Committees and Subcommittees in their companies and large business units. These committees and subcommittees are equal and comprise the workers’ OHS representatives, elected in accordance with legally established requirements, and representatives of the companies, meeting at the intervals established by the respective regulation. The consultation and employee participation processes in Occupational Health and Safety primarily use the channel provided by these representatives and the safety committees and subcommittees. Within the EDP Group, 72% of the internal workforce is covered by representative structures dedicated to occupational health and safety. The safety committees and subcommittees meet regularly and draw up minutes, which are then approved at the following meeting. EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 132
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Depending on each country’s legislation and the existence of collective bargaining agreements, when existing, they cover, in principle, all employees with regard to occupational health and safety clauses. Accordingly, EDP has established agreements with the trade union structures in the area of occupational health and safety, which cover the following areas: • Obligations of employees and companies • Representation of workers for occupational health and safety • Responsibilities of prevention and safety services • Safety standards and equipment • Industrial hygiene • Training, information and awareness-raising on occupational health and safety • Occupational health and safety indicators • Risk factors for employees. As part of the tender for the procurement of protective clothing, which aims to strengthen the Group’s safety culture by emphasising the importance of the characteristics of personal protective equipment (PPE), workers are consulted and the final outcome is the formalisation of a framework agreement for the next three years, applicable across Europe. More than 50 employees took part in this showroom, including safety technicians, members of operational teams and workers’ representatives on the Safety Committees and Subcommittees. As with previous tenders, visitors to this showroom assessed around 90 samples on display, submitted by the nine suppliers participating in the process, all of which complied with the technical and regulatory requirements defined by the EDP Group, identifying those best suited to our activities. It should be noted that the protective clothing was evaluated with a focus on protection of the worker and user comfort. After the showroom, the best samples are selected to proceed to the next stage of field testing/negotiation. S1.MDR-A | S1-2 |S1-3 | S1-4 |S1-8 | S1-9 | S1-10 | S1-11 | S1-12 | S1-15 | S1-16 Actions Equal treatment and opportunities Fair and equal opportunities and requalification and job creation EDP manages its people strategy through an integrated People & Organisation (P&O) framework, supported by dedicated teams, clear governance, and specialized forums. Structures such as the DEIB Council and employee resource groups (ERGs) contribute to embedding diversity, equity, inclusion, belonging, and well-being into organizational practices, ensuring equal treatment, fair access to opportunities, and consistency across geographies and business areas. EDP adopts a continuous employee journey approach, designed to provide fair and transparent access to development, mobility, and career opportunities throughout the employee lifecycle. Onboarding is treated as a critical enabler of integration and early productivity, supporting equal starting conditions and accelerating performance regardless of background, role, or location. This approach is reinforced through a comprehensive learning and development ecosystem that combines formal training, learning on the job - such as internal mobility - and social learning mechanisms, including mentoring and thematic digital communities, fostering inclusion, collaboration, and knowledge sharing. In 2025, EDP strengthened its commitment to fair and equal opportunities through the implementation of a skills-based approach. By prioritizing skills over roles or tenure, this model promotes merit-based access to development pathways, internal mobility, and career progression, while supporting workforce adaptability. This shift is reflected in the evolution of the performance management process, which now includes both employee self-assessment and manager assessment of competencies, covering segment-related, technical, and service-specific skills. This approach is particularly critical in a matrix organizational model, ensuring transparency, consistency, and alignment between individual capabilities and business needs. Learning and development initiatives are designed to support continuous requalification and employability in the context of technological, organizational, and market transformation. Through a mix of accessible learning formats, external partnerships, and certification programs, EDP enables employees to update, expand, or redirect their skill sets, supporting transitions into evolving and emerging roles. Sustainability and ESG-related topics are embedded across key learning programs, reinforcing the link between business strategy, workforce development, and long-term value creation. EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 133
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EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 134 Employee Experience Compensation & benefits Our compensation and benefits strategy ensures recognition, clear career paths, and equity. The place we all belong By ensuring the equity and inclusion of our people, we are fostering a more diverse workplace. A balanced workplace We put our people first, through a well-being strategy that promotes work-life balance and flexibility. Attraction Development Experience
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EDP recognizes the impact of demographic trends and the energy transition on job profiles and workforce needs. Requalification and reskilling initiatives are therefore closely linked to internal mobility, succession planning, and the creation of new professional opportunities within the organization. This integrated approach supports job continuity, facilitates transitions into new roles, and ensures the retention and transfer of critical knowledge, contributing to organizational resilience and a just transition. To ensure long-term sustainability, EDP’s P&O strategy aims to deliver a human-centred employee experience; guarantee fair and equal access to opportunities through transparent, skills-based processes; promote continuous requalification and internal job creation through learning and mobility pathways; advance diversity, equity, inclusion, and belonging as drivers of innovation; enhance agility and efficiency through digitalized processes; and leverage people analytics to support equitable, forward-looking workforce decisions. The following tables provide an overview of key diversity, equity, inclusion and belonging (DEIB) indicators, supporting the monitoring of workforce composition, representation at management levels and progress towards fair and inclusive employment practices. 2025 2024 Top Management UN Male Female Total Male Female Total Employees at top management level # 68 25 93 71 26 97 Employees at top management level % 73.1 26.9 100.0 73.2 26.8 100.0 EDP has a Global Compensation Framework, widely disseminated to its employees through internal communication channels, which presents the group's different organizational segments, with the different missions and duties of each one. The top management in this global framework are: Senior Executive Directors and Executive Directors. 2025 Employee headcount by age group UN Male Female Not disclosed Total < 30 # 913 420 23 1,356 [30-50[ # 5,325 2,286 33 7,644 ≥ 5 0 # 2,158 701 6 2,865 Total # 8,396 3,407 62 11,865 < 30 % 7.7 3.5 0.2 11.4 [30-50[ % 44.9 19.3 0.3 64.4 ≥ 5 0 % 18.2 5.9 0.1 24.1 2024 Employee headcount by age group UN Male Female Not disclosed Total < 30 # 1,066 527 35 1,628 [30-50[ # 5,579 2,396 43 8,018 ≥ 5 0 # 2,227 713 10 2,950 Total # 8,872 3,636 88 12,596 < 30 % 8.5 4.2 0.3 12.9 [30-50[ % 44.3 19.0 0.3 63.7 ≥ 5 0 % 17.7 5.7 0.1 23.4 EDP is committed to fostering an inclusive environment and ensuring the representation of persons with disabilities throughout the employee journey. To support this commitment, EDP collects and analyses comprehensive professional (e.g., professional segment, company, region of working, functional family, and others) and demographic (e.g., gender, generation, nationality, disabilities, and others) data to understand and enhance inclusion. The calculation methodology is adapted locally, respecting local legislation and the definitions of "disability" and quota compliance in each country. For example, in Portugal, the calculation requires a disability of 60% or higher. In Brazil, any degree of disability is considered, as long as it is proven through a medical report or a biopsychosocial assessment. EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 135
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To calculate the ratio "employees with disabilities" it is used: the number of persons with disabilities / total number of employees. The data about the number of persons with disabilities is available in About.me (internal people management platform) and is uploaded in the hiring process. Employees with disabilities in own workforce UN 2025 2024 Female % 0.6 0.6 Male % 0.9 1.0 Not Disclosed % 0.0 0.0 Total % 1.5 1.6 Wage disparity To mitigate potential negative impacts associated with wage disparity, EDP develops some pay equity mechanisms such as: 1) the Gender Equality Plan, and specific plans to mitigate pay disparity in more local contexts; 2) pay equity analysis routines; or 3) upskill training and capacity building for professionals in the People & Organization areas, on an ongoing basis and especially whenever policies and processes are modified. The Global Compensation Framework is the model that establishes a common compensation strategy at the EDP Group, aligning local practices with a global policy that promotes transparency, equity, and meritocracy, by clarifying compensation concepts, organizational segments, and how they relate to the job family matrix and the different career paths. This model, widely communicated to all employees, establishes a clear relationship between concepts relating to basic salary, short- and long-term incentives, benefits and perks. The benefits and perks component is available to all employees through the Benefits & Perks Guidebook, organized by country into 8 clusters: 1) Family support & New parents, 2) Work & Flexibility, 3) Time-off, 4) Learning & Development, 5) Transports & Sustainable Mobility, 6) Retirement, 7) Offers, discounts & Personal finance, and 8) Health & Well-being. Some initiatives that aim to reinforce ongoing transparency and pay equity are: 1) the availability of all information on the global compensation model in a fixed place on the company's intranet page, 2) e- learning on the model that can be accessed at any time by all employees, 3) best practice guidebooks for managers and P&O Business partners, 4) payslips and annual statements such as the Total Employee Package available on demand in the same tool or, 5) Benefits and Perks Guidebook by country, with clear information on eligibility and instructions for use. In 2025, one of the fundamental aspects of the journey towards pay equity and transparency was consolidated through the Skill-based Organization project, which aimed to: 1) review the Job Family Matrix in light of EDP's new operating model, 2) create a Global Job Title for the first time, and 3) create a skills inventory by job title. The official standardized job title is now used at EDP to ensure consistency and alignment, reflecting seniority, specialization and/or organizational structure, regardless of local variations in job naming. Clear job grades, global titles, and skill frameworks create the common language that makes wage disparities visible, explainable, and actionable. The processes through which we identified the actions needed to address wage disparity are: 1) through mechanisms for listening to and gathering feedback from employees, and 2) applying best market practices in the management of processes related to people and organization, such as mapping and process management mechanisms, scenario and impact analysis, and internal equity. EDP's compensation strategy, which includes the management of all compensation mechanisms, benefits, and perks, are overseen by a Centre of Excellence within the P&O area, managing resources and budget dedicated to these issues. The following tables provide a comprehensive snapshot of gender pay gap patterns across segments, regions, and different elements of compensation. 2025 Gender pay gap1 UN Iberia South America North America Rest of Europe Asia Pacific Total Senior Management2 % 7.5 11.0 -16.4 -5.4 -7.2 1.9 Supervisors % 0.7 -1.1 -2.6 8.7 -3.3 2.8 Specialists % 5.5 21.7 -0.3 12.2 20.2 10.4 Technicians % -25.3 18.6 -3.0 19.2 11.0 -19.4 EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 136 1 Gender pay gap [(M-F)/M*100] 2 There are no senior management women in the Rest of Europe
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2024 Gender pay gap UN Iberia South America North America Rest of Europe Asia Pacific Total Senior Management % 8.6 -13.1 -25.7 NA 10.5 1.1 Supervisors % 3.8 0.5 -0.9 30.2 11.1 6.4 Specialists % 5.9 16.6 3.9 16.4 9.7 11.1 Technicians % -21.4 12.0 0.0 40.2 10.9 -19.7 To accurately assess the gender pay gap, an adjusted methodology was created to assess every situation in the Group. This assessment considers key variables such as global job role (function), job grade, and seniority. By applying this comprehensive approach, it is possible to identify real pay differences between equivalent positions or jobs of equal value and take consistent action to address them. The gender pay gap is calculated as follows: (average annual fixed remuneration of male employees - average annual fixed remuneration of female employees) / average annual fixed remuneration of male employees. The remuneration of the Executive Board of Directors is not being considered. The annual fixed remuneration corresponds to annual base salary (ABS). In 2025, as a result of an improvement in the calculation methodology, ABS was calculated based on theoretical salary, whereas in 2024 was calculated based on the amounts actually paid, considering the same salary components. Pay Gap UN 2025 Ratio of the annual total compensation for the organization’s highest-paid individual to the median annual total compensation for all employees (excluding the highest-paid individual) x 20.2 2025 2024 Gender pay gap UN Ordinary basic salary Complementary/ variable components Ordinary basic salary Complementary/ variable components Senior Management % 1.9 -2.4 1.1 3.3 Supervisors % 2.8 -2.5 6.4 0.4 Specialists % 10.4 6.4 11.1 1.4 Technicians % -19.4 -10.0 -19.7 -23.6 The complementary/variable component includes Short Term Incentives (annualized cash amounts that may vary from year to year. These typically refer to incentive payments contingent on discretion, performance, or results achieved) and Long Term Incentives (annualized amounts calculated and paid in accordance with the specific methodology defined by the Group). It does not include spot bonus. Adequate wages At EDP all employees are paid adequate wage. EDP has the Global Compensation Framework that considers market factors (compa-ratio) to define its compensation practices and to ensure equity and attractiveness. Additionally, EDP discloses the ratio "EDP minimum wage/National minimum wage" in each region, and in all of them, EDP minimum wage is higher than the national minimum wage (Iberia: 1,17; South America: 1,8; North America: 2,15; Asia Pacific:1,56 Rest of Europe:1,38). To calculate this ratio, the minimum wage paid by EDP in each country is used versus the national minimum wage by country, that is obtained from official sources (e.g., Eurostat). The wage considered by EDP in the calculation is the annual base salary. Employees under the Kronos (74) are not taken into account, as they are managed through an independent payroll process. Actions to mitigate negative impacts on workers that arise from transition to greener, climate-neutral economy EDP recognizes that the transition to a greener and climate-neutral economy may lead to changes in job profiles, skills requirements, and mobility patterns, with potential negative impacts on workers if not managed responsibly. To address these risks, EDP adopts a fair, responsible, and climate-aligned transition approach, aimed at mitigating negative impacts on its workforce while simultaneously encouraging environmentally sustainable behaviours. EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 137
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At the workforce level, EDP focuses on preserving employability, supporting job continuity, and enabling fair professional transitions through requalification, reskilling, and internal mobility. In this sense, EDP invested in training related to energy transition, which involved about 30.000 participations and 29.757 training hours in 2025. These efforts are complemented by a comprehensive set of measures designed to support employees throughout the transition and reduce the social and economic burden associated with changing energy and mobility models. These measures include exclusive commercial and energy discounts for EDP employees, valuing employees while supporting a meaningful shift towards cleaner and more sustainable energy consumption at home. For eligible roles entitled to a company vehicle, EDP applies a policy of allocating plug-in hybrid and electric vehicles only, reinforcing emissions reduction across the corporate fleet. In addition, employees benefit from free electric vehicle charging at EDP offices and facilities, subsidized public transport passes (Social Commuting Pass) to encourage low-carbon commuting, and dedicated bicycle parking in EDP buildings, promoting active and sustainable mobility. In situations involving workforce adjustments, EDP applies socially responsible mitigation measures to support employees during professional transitions. As part of exits by agreement with the company, EDP provides outplacement services and career transition support, ensuring that affected employees have access to new professional opportunities outside the organization. The company also maintains structured pre-retirement and retirement programs foreseen in the Collective Agreement, offering a socially balanced and responsible alternative in workforce adjustment contexts. Beyond its internal workforce, EDP extends its just transition approach to society at large by contributing to the development of skills and knowledge required for a climate-neutral economy. Through partnerships with external institutions, EDP supports training and awareness initiatives that are open not only to employees but also to the wider community. A key example is the partnership between EDP and CIFAL, which delivered a training programme on sustainable energy transition open to the general public, strengthening societal preparedness for emerging green jobs. Together, these measures reflect EDP’s commitment to ensuring that its transition to greener and climate-neutral operations is carried out responsibly, supporting both environmental objectives and the well-being, employability, and long-term resilience of its workforce and the communities in which it operates. Tracking effectiveness of actions To measure progress and evaluate the effectiveness of its actions and initiatives, EDP relies on a robust, m u l t i - l a y e r e d m o n i t o r i n g s y s t e m . T h i s i n c l u d e s : • Recurring employee feedback gathered through the Employee Engagement Survey and other engagement mechanisms, providing quantitative and qualitative insights • A comprehensive Data & Intelligence ecosystem, supported by a unified data hub, strong d a t a - q u a l i t y p r o c e s s e s , c l e a r g o v e r n a n c e , a n d r e p o r t i n g t o o l s a n d d a s h b o a r d s , t h a t e n s u r e s c o n t i n u o u s t r a c k i n g o f k e y P e o p l e & O r g a n i z a t i o n i n d i c a t o r s a n d e n a b l e s d a t a - d r i v e n d e c i s i o n s • Regular reporting cycles and structured KPI governance, ensuring ongoing assessment of progress and alignment with strategic objectives • Benchmarking against external references and market standards, reinforcing accountability and validating the effectiveness of the measures implemented. Health and safety The Occupational Health and Safety is fundamental to ensuring a safe and healthy environment for EDP Group employees. In this context, establishing clear goals and targets is essential to direct efforts and monitor results. The Occupational Health and Safety objectives are broad, reflecting long-term results and aligned with international work safety standards. The Safety at Work Actions Operating Plan sets forth the commitments and initiatives undertaken by the organisational units for implementation of the 6 strategic pillars defined at strategic and corporate level, in terms of Prevention and Safety approved for 2025/27: • Achieve Zero Internal and External SIF • Protect People and Assets • Resilience through Readiness & Response • Capability & Transformation through People and Technology • Drive Impact through Continuous Improvement and Optimized Processes • Leverage Leadership Commitment to Safety, Security & Business Continuity. The implementation of EDP’s annual occupational health and safety programme was grounded in the realisation of a set of strategic actions aimed at preventing workplace accidents. Among the main areas EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 138
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of intervention are: i) reducing the number of workplace accidents; ii) promoting an organisational safety culture; iii) systematically monitoring and continuously improving processes; iv) rigorous management of occupational risks; v) the active involvement of all hierarchical levels within the organisation; and vi) full compliance with applicable legislation as well as internal and international occupational health and safety standards. Within the EDP Group, the establishment of Occupational Health and Safety (OHS) objectives and the corresponding action programmes for their achievement is carried out in accordance with the internal procedure “Management Objectives and Programmes” of the Corporate Safety Management System (CSMS). Objectives may be defined: • At the corporate level, approved by the Executive Board of Directors • At the level of each Platform and Region, approved by the respective Boards of Directors and in alignment with corporate objectives. In 2025, the following key initiatives were implemented as part of the ongoing improvement of OHS: • The cross-company application of the “Life-Saving Rules” throughout all EDP Group companies, aimed at preventing serious and fatal accidents • Establishment of a communication framework for SIF (Serious Injuries and Fatalities) accidents, standardising criteria and procedures for reporting, analysis, and monitoring • Consolidation of the incident management module on the corporate safety management platform, enhancing efficiency in recording, tracking, and addressing incidents. These actions are integrated into the annual process of goal-setting and performance evaluation under the CSMS, enabling systematic monitoring of the achievement of objectives and the implementation of corrective or preventive measures whenever necessary. This approach ensures strategic alignment, regulatory compliance, and a continuous focus on reducing risk for workers. The execution of EDP Group’s annual Occupational Health and Safety (OHS) programme was based on the implementation of a structured set of strategic actions, aimed at preventing workplace accidents and fostering a safe working environment. The main areas of intervention included the following axes: • Reductions of accidents – Strict targets were set for eliminating workplace accidents with fatal or severely disabling consequences, as well as for significantly reducing both the total frequency rate and severity rate of accidents • Promotion of Safety Culture – Efforts were made to develop an organisational culture in which safety is a priority and integrated into employees’ daily routines, being recognised as a fundamental value in the company’s operations and decision-making • Monitoring and Continuous Improvement – Regular audits were conducted to identify risks and implement corrective measures, ensuring transparent communication of the results obtained and reinforcing the organisation's commitment to safety • Risk Management – Systematic identification, assessment and mitigation of risks associated with complex operations and activities was carried out, as well as the monitoring of working conditions that could negatively affect employees’ health • Engagement at All Levels – Active leadership involvement in promoting safe practices was encouraged, and it was ensured that all workers were well informed and committed to managing the risks inherent to their roles • Compliance with Legislation and Standards – It was ensured that all operations were conducted in strict accordance with national legislation and applicable international standards, maintaining current certifications, namely ISO 45001:2018. This set of initiatives reflects EDP Group’s commitment to promoting occupational health and safety, ensuring continuous process improvement and alignment with industry best practices. The monitoring of the implementation of Occupational Health and Safety (OHS) actions is carried out periodically by the CoE of the SS&BC, as well as within the scope of the prevention and safety committees, which analyse the progress of ongoing initiatives and, when relevant, propose any additional measures required to achieve the defined objectives. The objectives established for the EDP Group result from the assessment of the most recent results and the evolution of the main key performance indicators (KPIs) related to occupational health and safety, including, among others, contributions from accident analysis, as well as from internal and external audits of safety management and the execution of work carried out for EDP. EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 139
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In 2025, life-saving rules applicable to the entire EDP Group were developed and implemented, a framework for SIF accident reporting was established, and the incident management module on the safety management platform was consolidated. EDP regards accidents classified as SIF (Serious Injury or Fatality) as critical occurrences with a negative impact on occupational health and safety. The management process for SIF (Serious Injury or Fatality) accidents within the EDP Group is based on a structured approach that ensures the identification and execution of the necessary and appropriate actions in response to a specific, real or potential negative impact on the workforce, with a focus on occupational health and safety. Whenever a SIF accident occurs, an immediate response is activated, which includes prompt communication to the hierarchy and the Occupational Health and Safety teams, urgent medical assistance, and the isolation of the affected area to preserve evidence and prevent additional risks. This is followed by the implementation of immediate corrective measures to eliminate or control the existing hazard. The investigation is conducted by a multidisciplinary team, using recognised methodologies such as the Cause Tree, to identify the root cause and the technical, human and organisational factors that contributed to the event. Based on the findings of the investigation, corrective measures are defined to prevent the immediate recurrence of the situation and preventive actions are established to reduce the risk of future events, with all measures aligned and validated in accordance with applicable legal and regulatory requirements. The implementation phase of the actions includes the definition of deadlines and responsible parties, ensuring continuous monitoring through OHS performance indicators, and periodic review of results to confirm improvement patterns. In parallel, there is a focus on internal communication of conclusions and lessons learned, promoting a safety culture that encourages the reporting of hazardous situations and near misses. The execution of the EDP Group’s annual Occupational Health and Safety (OHS) programme was founded on strategic actions aimed at prevention of accidents and the promotion of a safe working environment. The main areas of intervention included the establishment of stringent targets for accident reduction, the fostering of an organisational safety culture, the implementation of regular audits for monitoring and continuous improvement, the systematic management of risks, and the involvement of all levels of hierarchy. Operations were carried out in compliance with current legislation and international standards, with particular emphasis on maintaining certifications, notably ISO 45001:2018. Working conditions Social dialogue EDP has established several collective labour agreements with structures representing workers, primarily in Portugal, Brazil, and Spain. Employees have the right to form workers' committees within each company to defend their interests and rights, as provided for in the Constitution and the laws of each country. Trade unions and employees also have the right to engage in union activities within the company, including through delegates, union committees, and inter-union committees. The unions maintain a direct channel of communication with employees to listen to their demands and address any questions regarding potential requests that may be included in the collective labour agreements during the negotiation process. These dynamics for managing labour and union relations have enabled the effective management of various aspects crucial for the continuous improvement of working conditions and business sustainability. Examples of topics within the scope of social agreements or measures implemented within this framework include: • Mechanisms to guarantee transparency and equity - EDP, through its business enablement functions, guarantees a set of practices, processes and routines aimed at ensuring aspects of pay equity, adequate and living wages such as 1) benchmarks from several strategic market analysis partners, 2) remuneration analyses at all stages of the annual compensation cycle to ensure gender pay equity and 3) the annual budget exercise includes gender pay aspects for the possible correction of unjustified pay disparities • Managing working hours, working arrangements, and labour rights - The management of working hours and arrangements is fundamental to guaranteeing decent and safe conditions for employees. This is ensured through internal platforms for recording hours, absences, and annual leave, allowing for monitoring and, where applicable, payment. Additionally, EDP adopts a proactive approach to managing potential unused annual leave, encouraging employees to take advantage of their rights to rest. With regard to non-voluntary terminations, due to their particular context and impact, in addition to strict compliance with the legislation in each country, EDP provides additional support and protection measures for the employees impacted. To support the transition phase and the search for other professional opportunities, EDP offers outplacement services and health insurance, for a limited period. Likewise, the P&O Business Partners are the focal point for listening to any claims/complaints from employees regarding compliance with the employment contract. EDP has Labour Relations teams that manage interaction with these employee representative structures, in order to ensure a culture of EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 140
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permanent dialogue, promotion of social peace and alignment of the interests and rights of the parties, maintaining negotiation cycles in line with EDP's business and organizational development dynamics. The relationship with these structures is usually characterized by bilateral and plenary meetings, which may vary according to the country. Bargaining agreements UN 2025 2024 Employees covered by collective bargaining agreements % 79.0 77.2 2025 Collective bargaining coverage Social dialogue Coverage rate Employees – EEA Employees-non-EEA Workplace representation (EEA ONLY) 0-19 % - - Spain 20-39 % - - Portugal 40- 59 % - - - 60 -79 % Spain - - 80 - 100 % Portugal South America - 2024 Collective bargaining coverage Social dialogue Coverage rate Employees – EEA Employees-non-EEA Workplace representation (EEA ONLY) 0-19 % - - Spain 20-39 % - - Portugal 40- 59 % Spain - - 60 -79 % - - - 80 - 100 % Portugal South America - Work-life balance EDP recognizes that well-being is fundamental to the performance of the organization, its teams, and each individual. For this reason, the company places people at the center of its decisions, actively listening to their needs and promoting initiatives that foster a balanced and healthy work environment. EDP's Well-being Strategy seeks to meet the five major goals: 1) promote a global well-being experience, 2) lead by example, 3) focus on promote physical and emotional well-being, 4) promote a useful, balanced and easily accessible well-being offer, and 5) communicate a vivid and engaging story. Thus, in order to achieve these objectives, this strategy is organized around 5 dimensions of well-being - physical, emotional, social, professional, and financial. For each dimension, risk and advantage factors are identified, either through continuous feedback from employees or through the Employee Engagement Survey, designing and implementing initiatives such as the Mind Your Mind campaign, a global psychological support line, training for leaders, nutrition consultations, health insurance, a volunteer program, measures to support parenthood, financial advice, a platform of discounts and flexible benefits or measures of flexibility in the management of work and working hours. The well-being strategy, which includes managing the work model and flexibility measures, is overseen by a specialized team from the P&O area and extends to a group of other internal stakeholders with a strong multidisciplinary component, managing resources and budget dedicated to these issues. Flexible working setups At EDP, we are committed to fostering a healthy work culture that balances flexibility and employee well-being through flexible working arrangements (temporal and spatial). The hybrid work model allows employees to work remotely, up to two days per week, provided that their role is compatible with remote work, and they comply with the local EDP’s Hybrid Work rules. Flexibility measures such as Flex Fridays, which allow employees to manage their professional and personal responsibilities in a more balanced way, are key initiatives to promote life-work integration. In 2025, to strengthen the model and its management, ensuring its best use and benefits for all employees, the following features have been made available: 1) dashboard available for employees and managers that shows their or their teams compliance with the hybrid working model; 2) Collaboration Guidebook for P&O professionals and Managers with practical tips and inspiration to help foster strong, connected teams; 3) a very comprehensive set of FAQ available on the company intranet addressing EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 141
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common queries on the hybrid model, 4) training sessions dedicated to P&O professionals and managers on updating these features and, essentially, how to make the most of the model's advantages in day-to-day management and team management. Well-being culture Considering employee feedback through various listening mechanisms, such as the Employee Engagement Survey, we recognize that aspects related to well-being, specifically stress and workload management, require ongoing monitoring and action. The well-being strategy and its measures are overseen by a specialized team from the P&O area and extends to a group of other internal stakeholders with a strong multidisciplinary component, managing resources and budget dedicated to these issues. The impact generated by the initiatives implemented is also analysed through feedback and satisfaction surveys after each campaign or within the annual cycle of family-responsible company certification (efr). For each dimension of the well-being strategy, EDP offers a set of benefits and perks and supports employees in various aspects of their personal and professional lives, health and well-being: • Employee´s benefits - SelfCare Line (psychological support, life coaching, financial and legal consulting, and social counselling), well-being talks, workshops and mental health promotion campaigns, volunteering initiatives, discounts on services and products, and the time-off such as Birthday and Magic Season days off (a day associated with local festivities). Extraordinary support situations can be triggered in several ways: 1) the external service provider that receives contacts via the SelfCare Line escalates a given situation to the internal team specializing in well-being and Occupational Health; 2) P&O Business Partners or Team Managers identify situations of potential risk and escalate them to the internal team specialized in these types of issues; 3) the request is made directly by the employee by contacting an P&O Business Partner or through the internal service request platform (RequestON) for HR-related matters. The support offered by the company will depend on the needs identified and may include financial support, personal or family support services, time off work, among others • Work conditions - EDP is committed to foster a healthy work culture - one that goes beyond just digital and physical aspects to encompass well-being. The work experience is designed around the where and how everyone works. On the Where, employees can work on-site, in the office and/or remotely. EDP has been significantly investing to improve the workspace by creating spaces that inspire employees to collaborate, to connect, innovate and grow, through a more open and inclusive space. On the How, EDP implemented a hybrid work model, allowing employees whose jobs are compatible with remote working to have the opportunity to work remotely up to two days a week. Also, the Flex Fridays are a flexibility and voluntary measure to make working hours more flexible, enabling employees to adapt their weekly working hours, allowing them not to work on Friday afternoons, in compliance with the guidelines applicable to each region • Family benefits - family support initiatives aim to support employees on their journey to becoming parents or caregivers and include measures such as: paid parental leave for the first or second caregiver, 15 days' leave prior to the expected date of birth, parking for pregnant employees in the third trimester of pregnancy, New Parents Guidebook, Welcome Birth Offer, lactation and parental care spaces. Some of these initiatives are only available locally. In 2025, a set of initiatives were developed and implemented to reinforce or respond to new challenges identified in the area of well-being, to employees, managers and with special focus to P&O professionals as being on the frontline supporting teams and managers: • Mental Health Guidebooks – made available in more languages to reinforce our commitment to inclusivity and accessibility to equip Leaders and P&O Business Partners with essential strategies to foster mental health, promote open conversations, and create a psychologically safe workplace • Workplace Mental Health First Aiders (MHFAider) –14 hour training program to certificate 14 P&O professionals (total of 196 hours of training) for 3 years as mental health first aiders by equipping participants with the skills and confidence to provide guidance and support on mental health in the workplace • P&O Stress Check-Up Pilot – a pilot initiative designed to strengthen the mental health program by helping 10 P&O professionals better understand and manage their stress levels. This preventive, h e a l t h - p r o m o t i n g i n i t i a t i v e o f f e r s a s t r u c t u r e d w e l l - b e i n g e x p e r i e n c e t h r o u g h a o n e - h o u r o n l i n e a s s e s s m e n t w i t h a n e x t e r n a l c o n s u l t a n t u s i n g a v a l i d a t e d s t r e s s - e v a l u a t i o n m e t h o d o l o g y , f o l l o w e d b y a s e c o n d s e s s i o n f o c u s e d o n d e v e l o p i n g a p e r s o n a l i z e d w e l l - b e i n g p l a n • Mental Health Summit (sponsorship)– an annual event in Portugal that aims to bring together organizations committed to making mental health a strategic priority. This edition focused on r e i n f o r c i n g c o l l e c t i v e a c t i o n a r o u n d w o r k p l a c e w e l l - b e i n g a n d i n c l u d e s t h e l a u n c h o f t h e f i r s t p r o d u c t c o - c r e a t e d b y P a c t m e m b e r o r g a n i z a t i o n s t o h e l p c o m p a n i e s e m b e d m e n t a l h e a l t h a t t h e c o r e o f their culture • Well-being Moments - an annual internal campaign celebrating Global Wellness Day, dedicated in 2025 to the theme “Reconnect”, reinforcing the importance of reconnecting with ourselves, with EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 142
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others, with EDP and its purpose, and with the community. In total, approximately 923 employees took part in the actions promoted and the campaign counted with several moments: 1) a global talk “The Importance of Social Well-Being”; 2) Health & Well-Being Open Days in several EDP offices (São José dos Campos, in Brazil, Oviedo, in Spain, and the Caniçada Power Station, in Portugal), that has reached 627 employees; 3) the observance of the International Day of Play with a volunteering initiative or, 4) an awareness initiative on social media to showcase best practices around reconnection through the workplace, using inspirational quotes (e.g. “Great ideas don’t happen in isolation. They spark when we’re together”) • Mind Your Mind – an EDP flagship initiative that aims to promote a culture where mental well-being is a shared responsibility across the organization, under the motto “Act for your mind”. To reinforce this commitment, we host the Mind Your Mind Summit - an event designed to bring together colleagues, experts, and leaders to explore how each of us can contribute to meaningful cultural change. The summit offers inspiring perspectives, practical insights, and opportunities for connection, encouraging everyone to reflect, take action, and engage openly in strengthening our collective well-being • Movember – for the first time, EDP joined and supported the global Movember and Blue November movement, an initiative that aimed to promote men’s physical and mental health while raising awareness through collective action. By encouraging employees to share their support on the company social media Viva Engage or LinkedIn using the hashtag #MovemberEDP, we contributed €50 per post to the Movember Foundation. With 42 colleagues publishing 57 posts, this initiative generated a €3,000 donation - demonstrating how individual gestures can add up to meaningful impact • Support on bereavement – we have launched the updated Mind Your Mind – “Demystify Mental Health Stigma” Guidebook, an initiative that aims to equip P&O Business Partners with practical guidance to better support employees and leaders through grief, mental health challenges, and sensitive conversations. This updated edition reinforces our commitment to a compassionate, h u m a n - c e n t r e d w o r k p l a c e b y o f f e r i n g c l e a r r e s o u r c e s , b e s t p r a c t i c e s , a n d b e r e a v e m e n t s u p p o r t tools - ensuring everyone feels empowered to talk, to feel, and to care. EDP will continue to proactively invest in wellness and well-being programs, mental health support and policies that promote balance and inclusion. In addition, the use of technology to optimize work processes and maintain a strong organizational culture is key to mitigating these risks while increasing talent retention and overall workforce resilience. Social protection EDP provides robust support to safeguard the income and well-being of its employees at various levels. Social protection against loss of income due to sickness These are some of the initiatives that EDP promotes in the field of health protection: • Health insurance for employees: EDP offers extensive health insurance coverage to all employees, ensuring access to necessary medical care and financial protection during times of illness • Financial support during sickness: in some countries, in cases of prolonged illness, EDP offers financial support to ensure that employees do not suffer a loss of income. Other forms of non-financial support to protect against sickness: • Mental health support lines available in all EDP countries since 2024, providing direct access to mental health resources and support and ensuring that employees have the necessary support to maintain their mental and emotional well-being • Annual flu vaccination programs to prevent illness and promote the health of the workforce in some countries • Gym and nutrition initiatives, where EDP encourages a healthy lifestyle through gym memberships and provides more healthy food options available to employees • Physiotherapy services, so that employees have access to physiotherapy services in several countries. EDP promotes other regional initiatives, depending on local circumstances, such as ergonomic workplace assessments, critical incident management and support, smoking cessation programs, and a holistic mental health promotion program. Social protection against loss of income in unemployment Within the scope of terminations by mutual agreement with the company, EDP offers its employees outplacement services in order to support the impacted employees in finding other professional opportunities. In addition to these services, health insurance may also be offered for a limited period. EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 143
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Social protection against loss of income in employment injury and acquired disability EDP is committed to ensuring that employees are covered by comprehensive social protection programs, whether through public initiatives or company benefits. Specifically, in the event of employment injury or acquired disability, EDP provides robust support to safeguard employees' income and well-being. In addition to the protection legally granted in each country, EDP has additional support measures in the event of an accident at work, such as insurance in addition to compulsory insurance, as well as life insurance and personal accident insurance. Social protection against loss of income due to parental leave EDP is dedicated to promote a healthy work-life balance and supporting employees through various life events, including parenthood protection. EDP's commitment to integrate professional and personal life is reflected in the comprehensive measures the company has in place to support parenthood. In addition to the protection legally granted in each country, EDP offers a range of benefits and initiatives designed to support employees during the critical period of parenthood: • Parental leave - EDP ensures that all employees can enjoy parental leave, encouraging male and female employees to share the initial parental leave and promoting gender equality and positive parenting • New parents kit - the company provides a kit for employees in Portugal that includes information about the benefits available to employees at this stage of life, as well as their rights to share the initial parental leave • Leave for pregnant women - in some countries, EDP offers pregnant women 15 consecutive days' leave in the period immediately preceding the expected date of childbirth, without loss of compensation, which is also applicable in the case of adoption. In some other countries, this measure can be taken 15 days before or after the expected childbirth date or adoption • Positive parenting initiatives - EDP reinforces initiatives to promote positive parenting, focusing on the importance of male employees enjoying their respective parental rights and benefits • Post-parental leave transition measures - upon returning from parental leave, employees may work on a reduced-hours schedule during a transition period, ensuring a smooth reintegration into the workplace • Other measures - the company also offers parking in its buildings to pregnant women from the second trimester of pregnancy onwards and also a gift for each birth. These initiatives reflect EDP's dedication to the well-being of its employees, ensuring they are supported through various life events, including parenthood, and promoting a healthy balance between their professional and personal lives. Employees entitled to parental leave means those employees that are covered by organizational policies, agreements or contracts that contain parental leave entitlements. Currently, only information about parental leave within family-related leave is available. 2025 Family-related leave UN Male Female Not disclosed Total Employees entitled to take parental leave (1) # 323 154 0 477 Entitled employees that took parental leave (2) # 302 146 0 448 Entitled employees that took parental leave (3) % 93.5 94.8 N/A 93.9 Employees (4) # 8,396 3,407 62 11,865 Employees entitled to take parental leave (5) % 3.8 4.5 0.0 4.0 Employees that took parental leave (6) % 3.6 4.3 0.0 3.8 2024 Family-related leave UN Male Female Not disclosed Total Employees entitled to take parental leave (1) # 409 190 0 599 Entitled employees that took parental leave (2) # 342 186 0 528 Entitled employees that took parental leave (3) % 83.6 97.9 N/A 88.1 Employees (4) # 8,872 3,636 88 12,596 Employees entitled to take parental leave (5) % 4.6 5.2 0.0 4.8 Employees that took parental leave (6) % 3.9 5.1 0.0 4.2 To calculate the percentages of parental leaves: (3)=(2)/(1); (5)=(1)/(4) and (6)=(2)/(4). EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 144
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Social protection against loss of income due to retirement In addition to the protection legally granted in each country, EDP has additional support measures in the event of old-age retirement, such as a pension supplement or an individual pension plan, which aim to minimize the expected reduction in pensions granted by the social protection system in force. The company also has a training program aimed at preparing employees for retirement, with information on free time occupation and personal finance management, among other topics. Recognition The commitment to the best labour management practices, in the various aspects that impact employees in their day-to-day lives, is recognized, for instance, by the Fundación Másfamilia through the recognition of EDP as family-responsible company (efr). This certification - which the company has received since 2013 gained a global dimension in 2023, obtaining, for the first time, the efr certification with level B, a certification process that requires 3 audit moments during 2023-2025. In 2025, EDP underwent both internal and external audits (the third audit of the 2023/2025 cycle) to evaluate the company's progress in terms of well-being and its adherence to the well-being strategic plan. This certification reflects the EDP Group's commitment to the well-being of its people, through the implementation of measures and policies that promote balance and reconciliation between the personal and professional lives of employees, contributing to the construction of a true culture of care. Another example of this commitment is the recognition of EDP as a Top Employer by the Top Employers Institute, a global entity that evaluates and recognizes the best human resources management policies, highlighting the EDP Group's strong positioning with candidates and employees and its dedication and commitment to attracting and retaining the best talent. Digital transformation and AI Digital Transformation and the deployment of AI are ensured at EDP by DGU – Digital Global Unit –, whose mission statement is focused on maximizing digital and technology value creation by first setting the global vision and strategy for the Group and then bringing it to life in full partnership with the business. Increasing employee productivity as a result of technological innovation Digital transformation and AI at EDP are oriented first and foremost to our people, as we design and deploy AI products that augment employees, simplify complex tasks and thus free capacity for higher- value work. On that regard, we have deployed an artificial intelligence ecosystem, with several GenAI corporate tools rolled-out to support our employees in creating, analysing and synthesizing critical information, enabling automation of administrative and operational tasks and shortening response times. These tools include GenAI assistants like M365 copilot, ChatGPT Enterprise, as well as our internal GenAI assistant - Mind4EDP, unlocking our workforce capabilities and productivity. As we firmly believe that building an AI-ready workforce is as critical as deploying the technology itself, there is a clear opportunity for increasing employee productivity as a result of technological innovation, namely by promoting a widespread adoption of AI tools to increase our employees’ personal productivity. Effectively pursuing this opportunity is expected to bring measurable gains in productivity and engagement across business Platforms and Regions, accelerating the pace at which teams turn intelligence into action. In this context – and precisely focused on strengthening people enablement –, EDP launched in 2025 the “Think With AI” Program, resulting in an overall strong adoption, with 7.800+ employees using GenAI tools regularly and 6.400+ employees upskilled all across the Group, embedding AI as a default way of working. Additionally, EDP’s overall literacy and capability-building program also included in 2025 Group-wide learning endeavours such as a GenAI e-learning, instructor-led masterclasses and hands- on workshops applying GenAI in real-world day-to-day contexts, equipping our people with the necessary knowledge, responsible-use principles and practical skills to thrive in an AI-augmented environment. Throughout 2025, these additional efforts translated into measurable impact, with adoption rates climbing steadily. AI products & efficiency EDP has established a comprehensive, strategic AI roadmap anchored in a set of priority ‘Big Bets’ that structure delivery and scale all across the Group’s value chain. These priorities thus guide the development of a coherent portfolio of AI products that boost performance, both at the front-line and support functions, all the while reinforcing safety, accountability, and auditability throughout the AI life- cycle. In the course of implementing this AI roadmap, several products have already been developed and then adopted for use across EDP, always embodying a “workforce-first” philosophy, regarding using AI to augment our employees’ capabilities and support decision-making, while yielding measurable efficiency gains. Particularly relevant examples of these AI products include (i) AI copilots providing both front- and back-office teams with instant access to technical knowledge, analysing customer interactions to produce actionable insights, assisting with case validation and drafting, and also orchestrating multichannel assistance through voice and chat integrated with EDP’s contact centre platforms; (ii) rolling-out of AI automation across EDP’s business enablement functions; (iii) developer EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 145
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copilots, already accelerating coding at EDP by up to 40%. Taken together, all these hyper-automation AI levers are ensuring standardized quality, reducing manual overhead, as well as freeing-up expert capacity to focus on higher-value work. S1.MDR-T | S1-5 | S1-6 | S1-13 | S1-14 Targets and metrics At EDP, the definition and monitoring of people-related targets and metrics is a collaborative and structured process that actively involves employees and their representatives throughout the entire cycle, from target setting to progress monitoring and continuous improvement. This inclusive approach supports alignment between organizational priorities and employee expectations, reinforcing transparency, shared accountability, and trust. The year 2025 marked the end of a strategic cycle for the Group and therefore represented a pivotal moment for reflection, assessment, and forward-looking planning. In this context, EDP focused on defining the People & Organisation strategy for the 2026-2028 cycle, drawing on insights from the previous cycle to reassess priorities, address identified impacts, risks, and opportunities, and strengthen long-term organizational resilience. As part of this process, EDP reviewed and defined a renewed set of targets and KPIs designed to support positive and measurable progress across key people-related topics, including areas identified as material risks. Targets are established through structured engagement with multiple governance bodies and employee-related forums, including the Executive Board of Directors, the People & Organisation community, and other relevant committees and stakeholders. Input is gathered through focus groups, Employee engagement survey, ethics and culture assessments, and people analytics insights, ensuring that diverse perspectives inform priority setting and target definition. The table below presents some of the key People & Organisation targets and KPIs defined for the 2026-2028 strategic cycle, including their respective 2028 ambition levels. For each target, performance monitoring mechanisms are clearly defined, including reporting tools, dashboards, and Employee Engagement survey results. KPI Target 2028 Employees’ digital upskilling plan completion 90% Employee empowerment ↑ High-Performing Companies Women 29% Women in leadership 28% Leadership Diversity Index >75% Pay Equity 5% Pay Transparency 57% favourability Employee engagement ↑ High-Performing Companies The target employees’ digital upskilling plan completion consider the employees who completed the mandatory digital upskilling training plan in the total employees assigned to the training plan. It aims to ensure the organisation develops a future-ready workforce capable of operating effectively in an A I - e n a b l e d i n a s i m p l i f i e d , A I - e n a b l e d , a n d d a t a - d r i v e n e c o s y s t e m . S t r e n g t h e n i n g d i g i t a l c a p a b i l i t i e s enables better decision-making, higher productivity, and organizational agility. The 90% target ensures broad adoption of critical digital skills and supports the company’s strategic transformation roadmap. This target was defined for the first time during 2025, under the P&O strategy for the 2026-2028 cycle, and will be monitored from 2026 onwards. Monitoring will be carried out through dashboards with a quarterly reporting frequency. Employee empowerment KPI aims to measure employee’s empowerment with the company. Empowering employees to use their skills, make decisions, and innovate, drives organizational agility and connected structures, enabling smarter and faster ways of working. The target is positioning EDP higher scored in Empowerment, comparing to high-performing companies. The assessment happens through favourable responses in empowerment dimension (1-5 scale) obtained from annual Employee Engagement Survey results. Women KPI measures the % of women in the total workforce, and women in leadership KPI measures the % of women in leadership roles in the total leaders. These targets follow external benchmarks and sets a realistic but progressive path toward gender balance, while considering internal demographic trends. Gender representation is a core driver of DEIB, which strengthens team performance, innovation, and culture. Increasing women’s representation reinforces the human-centred experience pillar, ensuring fairness and balanced decision-making. It is monitored through dashboards on a quarterly basis. EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 146
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Leadership Diversity Index is a weighted average of three Simpson Diversity Indexes (gender, nationality, generation/age) that aims to increase representation across diversity dimensions for segments with direct reports. It is monitored through a dashboard on a quarterly basis. Pay Equity and Pay Transparency KPI´s aim to ensure compliance with pay equity laws while promoting fairness, trust, and belonging, and reinforce EDP´s commitment and investment in this area over the last few years. Promotes fairness and transparency in pay while supporting employee growth and a people-centric approach to talent management. These two targets were defined in 2025 and will be monitored from 2026 onwards. Pay Equity calculation will follow reporting standard required by the European Directive on Pay Transparency and will be measured annually, after key compensation processes. Pay Transparency will be monitored by employee perception (pay fairness) – favourability on Pay & Benefits category of the Employee Engagement Survey (6 questions rated on a 1-5 scale). About employee engagement KPI, it aims to evaluate employee´s engagement with the company. High engagement strengthens belonging and commitment, creating an environment where people grow with agility and deliver sustained performance. The target is positioning EDP above high-performing companies in this dimension , which will be tracked through Employee Engagement Survey results, evaluating the questions under this dimension (1-5 scale). By defining a renewed and expanded set of people-related targets for the 2026-2028 period, EDP reinforces its commitment to continuous improvement, proactive risk management, and responsible people practices. This approach ensures alignment between workforce strategy, business transformation, and long-term value creation. In terms of Occupational Health and Safety, EDP has this set of KPIs: Objectives KPI 2025 Target 2025 Target 2030 Fatal Accidents (EDP employees and contractors) 3 0 0 Frequency rate (EDP employees and contractors) 1.34 1.55 <1,00 Total severity rate (EDP employees and contractors) 71 150 <150 Serious injuries and fatalities 12 0 0 The monitoring of the achievement of objectives is carried out monthly by the Safety area of the CoE and by the prevention and safety committees, which assess the progress of actions and propose additional measures when necessary. These objectives, defined for the EDP Group, are based on recent results and trends in the main occupational health and safety KPIs, including information derived from the analysis of accident rates and both internal and external audits. Fatal Accidents aims to ensure the highest standards of health and safety across all operations, reinforcing the company’s commitment to protecting lives. The target of zero fatal accidents reflects a z e r o - t o l e r a n c e a p p r o a c h t o s e v e r e s a f e t y i n c i d e n t s a n d e m b e d s s a f e t y a s a c o r e p i l l a r o f s u s t a i n a b l e performance. Frequency rate m e a s u r e s t h e n u m b e r o f w o r k - r e l a t e d a c c i d e n t s p e r o n e m i l l i o n w o r k e d h o u r s , e n s u r i n g a transparent and standardized view of safety performance. Its target aims to reduce incident occurrence and reinforce a culture of prevention and operational excellence. The Total Severity Rate measures the total number of lost workdays due to accidents per one million worked hours, providing a clear view of the impact and seriousness of incidents. Its target aims to minimize injury severity and strengthen the company’s commitment to safe, responsible, and resilient operations. The Serious Injuries and Fatalities t r a c k s t h e n u m b e r o f i n c i d e n t s t h a t r e s u l t i n l i f e - a l t e r i n g i n j u r i e s , l i f e - threatening injuries or loss of life, highlighting the organisation’s most critical safety risks. Its target aims to eliminate these events entirely by reinforcing strong safety culture, operational discipline, and preventive controls. The EDP Group actively involves its employees and their representatives in identifying lessons learned and improvements through the quarterly meetings of the safety committees, where information is gathered to enhance safety and operational conditions. The EDP group, as set out in its Safety Policy and ESG (Environmental, Social and Governance) objectives, has a strategic goal of achieving zero accidents. For this reason, it is essential that during the incident investigation process the root causes and adequate preventive measures are identified to avoid future occurrences. Monitoring the effectiveness of the measures implemented, and disseminating the lessons learned to all Platforms and Regions, promotes the sharing of solutions and best practice that contribute to an EDP group-wide safety culture. It was in this context that a Safety Review Panel was set up under the coordination of the SS&BC, to analyse the action plans drawn up by the Platforms and Regions. The Safety Review Panel is a consultative body for the entire EDP Group and is made up of internal (Platforms and Regions) and/or external experts with proven recognition in specific areas of risk/ activity. The Safety Review Panel is independent of the Platforms and Regions and reports the results of incident analysis to the EBD. EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 147
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EDP Group’s Safety policy recognises and establishes the principle that the ongoing investigation and analysis of incidents – accidents and near-misses or hazardous situations – systematically conducted are essential conditions for ongoing improvement in the prevention of occupational accidents and occupational diseases. Every incident is indicative of possible failures or imperfections in the organisation and/or execution of the work. The investigation of the incident consists of identifying them and establishing the facts to eliminate or neutralise them. Within the scope of the Safety Review Panel’s activities in 2025, 3 fatal accidents (1 in South America and 2 in Iberia) and 3 accidents with serious consequences were analysed. Following a review of the action plans for these incidents, the experts recommended an additional 16 actions to the respective plans. Further information is available in the Safety, Security & Business Continuity Report. Characteristics of the undertaking’s employees Employee headcount UN 2025 2024 % YoY Male # 8,396 8,872 -5.37 Female # 3,407 3,636 -6.30 Not reported # 62 88 -29.55 Total # 11,865 12,596 -5.80 The number of employees and its breakdown by key characteristics (e.g.: gender, age, professional category) is reported in head count and refers to the end of December. The data is stored in the Human Resources Information System (HRIS), and EDP obtains the employees' data from this source. The total number includes the employees in all countries where EDP operates, but only for consolidated companies. The decrease of 5,8% in HC was primarily driven by a global reorganization initiative aimed at enhancing the company's overall efficiency and optimizing our operational structure in many countries in order to align business priorities and headcount requirements. Additional information is provided in Note 11 to the Financial Statements. The countries where EDP has at least 10% of the company's employees are presented in the following table: Employee headcount UN 2025 2024 Portugal # 5,245 5,466 Brazil # 2,918 2,993 Spain # 1,907 2,053 Turnover UN 2025 2024 Employees who have left the undertaking # 1,470 1,379 Employees turnover1 % 12.4 10.9 EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 148 1 Turnover refers to employees who leave the organization voluntarily, or due to dismissal, retirement, or death in service
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2025 2024 Employee headcount UN Female Male Not disclosed Total Female Male Not disclosed Total Employees (headcount) # 3,407 8,396 62 11,865 3,636 8,872 88 12,596 Employee headcount by contract type Permanent employees # 3,374 8,349 61 11,784 3,595 8,808 84 12,487 Temporary employees # 33 47 1 81 41 64 4 109 Non-guaranteed hours employees # 0 0 0 0 0 0 0 0 Employee headcount by occupational contract type Full-time employees # 3,403 8,393 62 11,858 3,633 8,870 88 12,591 Part-time employees # 4 3 0 7 3 2 0 5 2025 2024 Employee headcount UN Iberia Rest of Europe South America North America Asia-Pacific Total Iberia Rest of Europe South America North America Asia-Pacific Total Employees (headcount) # 7,152 487 2,952 969 305 11,865 7,519 608 3,050 1,060 359 12,596 Employee headcount by contract type Permanent employees # 7,104 487 2,952 937 304 11,784 7,477 605 3,050 1,001 354 12,487 Temporary employees # 48 0 0 32 1 81 42 3 0 59 5 109 Non-guaranteed hours employees # 0 0 0 0 0 0 0 0 0 0 0 0 Employee headcount by occupational contract type Full-time employees # 7,148 484 2,952 969 305 11,858 7,515 607 3,050 1,060 359 12,591 Part-time employees # 4 3 0 0 0 7 4 1 0 0 0 5 EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 149
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2025 Employee headcount Gender UN Iberia Rest of Europe South America North America Asia Pacific Total Employees (headcount) # 7,152 487 2,952 969 305 11,865 Employee headcount by contract type Permanent employees Total # 7,104 487 2,952 937 304 11,784 Female # 2,084 170 761 242 117 3,374 Male # 5,020 317 2,191 634 187 8,349 Not Disclosed # 0 0 0 61 0 61 Temporary employees Total # 48 0 0 32 1 81 Female # 22 0 0 10 1 33 Male # 26 0 0 21 0 47 Not Disclosed # 0 0 0 1 0 1 Non-guaranteed hours employees Total # 0 0 0 0 0 0 Female # 0 0 0 0 0 0 Male # 0 0 0 0 0 0 Not Disclosed # 0 0 0 0 0 0 Employee headcount by occupational contract type Full-time employees Total # 7,148 484 2,952 969 305 11,858 Female # 2,103 169 761 252 118 3,403 Male # 5,045 315 2,191 655 187 8,393 Not Disclosed # 0 0 0 62 0 62 Part-time employees Total # 4 3 0 0 0 7 Female # 3 1 0 0 0 4 Male # 1 2 0 0 0 3 Not Disclosed # 0 0 0 0 0 0 EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 150
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2024 Employee headcount Gender UN Iberia Rest of Europe South America North America Asia Pacific Total Employees (headcount) # 7,519 608 3,050 1,060 359 12,596 Employee headcount by contract type Permanent employees Total # 7,477 605 3,050 1,001 354 12,487 Female # 2,183 223 788 265 136 3,595 Male # 5,294 382 2,262 652 218 8,808 Not Disclosed # 0 0 0 84 0 84 Temporary employees Total # 42 3 0 59 5 109 Female # 24 2 0 13 2 41 Male # 18 1 0 42 3 64 Not Disclosed # 0 0 0 4 0 4 Non-guaranteed hours employees Total # 0 0 0 0 0 0 Female # 0 0 0 0 0 0 Male # 0 0 0 0 0 0 Not Disclosed # 0 0 0 0 0 0 Employee headcount by occupational contract type Full-time employees Total # 7,515 607 3,050 1,060 359 12,591 Female # 2,204 225 788 278 138 3,633 Male # 5,311 382 2,262 694 221 8,870 Not Disclosed # 0 0 0 88 0 88 Part-time employees Total # 4 1 0 0 0 5 Female # 3 0 0 0 0 3 Male # 1 1 0 0 0 2 Not Disclosed # 0 0 0 0 0 0 EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 151
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Training and skills development metrics Employees that participated in regular performance and career development reviews: 2025 2024 Performance and career development reviews UN Female Male Not disclosed Total Female Male Not disclosed Total EBD % 100 100 100 100 100 100 100 100 Senior Management % 100 100 100 100 100 100 100 100 Supervisors % 100 100 100 100 100 100 100 100 Specialists % 100 100 100 100 100 100 100 100 Technicians % 100 100 100 100 100 100 100 100 2025 2024 Training hours UN Female Male Not disclosed Total Female Male Not disclosed Total EBD h/p 30.4 25.6 0.0 27.5 11.0 15.6 0.0 13.8 Senior Management h/p 50.5 47.4 37.5 48.3 22.6 22.4 2.5 22.4 Supervisors h/p 16.8 23.4 10.9 21.7 29.3 20.7 31.6 22.9 Specialists h/p 18.0 22.8 15.7 21.7 19.2 25.6 25.5 23.0 Technicians h/p 21.2 30.7 55.6 29.6 21.8 38.3 108.8 37.0 Total h/p 19.4 27.1 38.5 24.9 20.6 30.5 77.6 28.0 I n 2 0 2 5 , t h e m e t h o d o l o g y u s e d t o c a l c u l a t e t r a i n i n g h o u r s f o r i n s t r u c t o r - l e d t r a i n i n g p r o g r a m s ( v i r t u a l o r f a c e - t o - f a c e ) w a s a d j u s t e d t o c o n s i d e r t h e f u l l c o u r s e d u r a t i o n w h e n e m p l o y e e s a c h i e v e a m i n i m u m attendance rate of 75%. In 2024, when this 75% completion threshold was met, only the hours effectively completed were taken into account. Health and safety metrics In 2025, the EDP group accounted for a total of 10,148 employees covered by ISO 45001:2018 certifications Health and safety management system UN 2025 2024 Employees who are covered by health and safety management system based on legal requirements and (or) recognised standards or guidelines1 % 82% 81% In accordance with international standards, all certified management systems which cover the number of employees mentioned above are subject to internal and external audits. Fatalities UN 2025 2024 Fatalities in own workforce as result of work-related injuries and work-related ill health [Employees] # 0 0 Work-related accidents UN 2025 2024 Recordable work-related accidents for own workforce [Employees] # 50 39 Rate of recordable work-related accidents for own workforce [Employees] x 2.2 1.7 Recordable work-related accidents are the accidents occurred at the place and working time or on a journey, with 1 or more days of absence and fatal accidents. The rate of recordable work-related accidents is the number of accidents at work in service with absence/fatalities, per million hours worked. Employees UN 2025 2024 Recordable work-related ill health of employees # 6 1 Days lost to work-related injuries and fatalities from work-related accidents, work-related ill health and fatalities from ill health related to employees # 1,625 1,465 Days lost to work-related injuries # 1,625 1,465 Days lost to fatalities from work-related accidents # 0 0 Days lost work-related ill health # 0 0 Days lost to fatalities from ill health # 0 0 Lost days are the number of calendar days lost due to work accident per million hours worked, in the reference period. EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 152 1 The values reported do not include the EDP Foundation and EDP Institute and include trainees.
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3.2. Supply chain management EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 153 Supply chain due diligence has become a central pillar of EDP’s strategy, supporting the company’s ability to execute renewable and network expansion plans across increasingly complex global value chains. The 2025 materiality assessment reinforced supply chain management as one of EDP’s most relevant topics, reflecting growing regulatory and stakeholder expectations for responsible sourcing and strong ESG performance across operations and procurement. The energy transition is accelerating demand for clean energy technologies, sourced from d i v e r s e g e o g r a p h i e s a n d m u l t i - t i e r p r o d u c t i o n n e t w o r k s w h e r e s u s t a i n a b i l i t y r i s k s m u s t b e carefully managed. Regulatory scrutiny around human rights, environmental performance and ethical conduct is intensifying, making robust due diligence essential to avoid legal, financial and reputational impacts. EDP addresses these challenges through a comprehensive ESG Supply Chain Due Diligence Process embedded throughout the procurement lifecycle. ESG criteria inform supplier qualification, contracting and performance monitoring, with enhanced due diligence and traceability applied to technologies and materials with higher sustainability risks, in alignment with international standards such as the UN Guiding Principles and ILO Fundamental Principles. By 2028, EDP aims for all purchases with identified ESG risk to be covered by ESG due diligence, supported by full traceability of photovoltaic modules and structured engagement with strategic suppliers through the EDPartners programme. These measures enhance transparency, resilience and alignment with the company’s decarbonisation and Scope 3 objectives. Supplier diversification further mitigates concentration risks and exposure to geopolitical or market volatility. Through this combination of diversification, rigorous due diligence and p a r t n e r s h i p - b a s e d e n g a g e m e n t , E D P i s b u i l d i n g a r e s i l i e n t a n d r e s p o n s i b l e s u p p l y c h a i n that supports a fast, fair and sustainable energy transition.
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EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 154 Human and labour rights policy Supplier code of conduct Health and safety policy Environmental policy Perform ESG risks evaluation and perform ESG due diligence to suppliers Actions Purchases with ESG risks covered by ESG Due Diligence 100% 2028 targets 2025 70% 2024 66% Policies and guidelines Code of ethics Whistleblowing management policy Suppliers privacy policy vs Target 2028 Purchase volume of enablement equipment with carbon footprint 80% 2028 target 2028 target Active monitoring mechanisms such as ESG and Traceability audits and site inspections Introduce ESG requirements, such as carbon footprint, supply chain mapping and environmental certification, to influence procurement decisions
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ESRS -2.SBM-3 Impacts, risks and opportunities Material IRO Time-horizon Definition Supply chain due diligence Risk Upstream, own operations Short-term Non-compliance, including child and forced labour standards, exposes the company to legal penalties, financial losses, and reputational damage, threatening consumer confidence and investor trust. Inappropriate labour practices Potential negative impact Upstream, own operations Medium-term Neglecting to monitor working conditions can lead to forced labour, labour exploitation, human rights abuses, and discrimination, harming individuals and society ESG criteria consideration Actual positive impact Upstream, own operations - ESG factors in supplier selection create a win-win for businesses society and environment Reduced dependence Opportunity Upstream, own operations Medium-term Supplier diversification reduces reliance on a single supplier, minimizes disruptions, and lowers exposure to risks EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 155
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BP-2 Integration in strategy and business model Supply chain due diligence is a central pillar of EDP’s strategy and directly influences the company’s capacity to execute renewable and network plans. As EDP strengthens its global presence, the business m o d e l i n c r e a s i n g l y d e p e n d s o n c o m p l e x , m u l t i - t i e r e d s u p p l y c h a i n s f o r c r i t i c a l e q u i p m e n t a n d s e r v i c e s . Ensuring that value chain workers are protected, that human and labour rights are upheld and that suppliers maintain high standards of environmental, social and ethical performance is essential to safeguard operational continuity and resilience, preserve stakeholder trust and comply with evolving European and international requirements. EDP includes within scope all value chain workers who may be materially affected by its activities, from extraction and refining to manufacturing, construction, logistics and services, with particular attention to vulnerable groups. The 2025 materiality assessment reaffirmed that supply chain management is one of the most relevant topics for EDP, given its impact on society and on the business. Suppliers are not only a key stakeholder but also a main partner to achieve installed capacity growth and sustainability goals. Technical excellence, execution performance, economic competitiveness and sustainability together frame EDP’s approach to supplier management. I n 2 0 2 5 , e x t e r n a l p r e s s u r e a c c e l e r a t e d — b o t h r e g u l a t o r y a n d m a r k e t - d r i v e n — t o i m p l e m e n t E S G initiatives across operations and procurement. The energy transition and emissions reduction imperatives intensified the focus on decarbonisation, while expectations for ethical working conditions, equity and transparency in global value chains grew markedly. Stakeholders increasingly demand traceability and verifiable responsible sourcing, and expect companies to leverage technology to strengthen supply chain visibility. EDP recognises the heightened compliance implications of specific legislation such as the U.S. Uyghur Forced Labour Prevention Act, Corporate Sustainability Due Diligence Directive, Corporate Sustainability Reporting Directive and the Carbon Border Adjustment Mechanism. In this context, integrating ESG criteria across procurement has become a strategic lever to improve risk management and organisational resilience. EDP maintains a dynamic list of countries with high potential human and labour rights risks, updated b a s e d o n e x t e r n a l s o u r c e s a n d t h i r d - p a r t y i n t e l l i g e n c e , w h i c h g u i d e s s c r e e n i n g d e p t h , t r a c e a b i l i t y requirements and monitoring frequency. The company remains alert to systemic risks embedded in specific commodities and geographies, notably the risk of child and forced labour. As a result, EDP requires enhanced due diligence and full traceability from suppliers of technologies reliant on these inputs. Although no material individual incidents were identified in the most recent reporting period, the company continues to reinforce its due diligence practices and oversight. In parallel, EDP seeks to g e n e r a t e p o s i t i v e i m p a c t s t h r o u g h s u s t a i n a b l e p r o c u r e m e n t , s u p p l i e r c a p a b i l i t y - b u i l d i n g , i m p r o v e d health and safety, and upskilling driven by renewable deployment and digitalisation. The risks and opportunities inherent to supply chain due diligence are clear: risks include violations in u p s t r e a m t i e r s , i n s u f f i c i e n t t r a n s p a r e n c y , r e g u l a t o r y n o n - c o m p l i a n c e , r e p u t a t i o n a l e x p o s u r e a n d s u p p l y d i s r u p t i o n l i n k e d t o c o n c e n t r a t i o n i n h i g h - r i s k g e o g r a p h i e s , w h i l e o p p o r t u n i t i e s i n c l u d e s u p p l i e r diversification, stronger traceability systems, effective grievance mechanisms and collaboration with industry platforms to advance responsible sourcing. BP-2 Policies EDP’s approach is anchored in a comprehensive policy framework aligned with international standards. The Human and Labour Rights Policy commits the company to respect, protect and promote human rights across its operations and value chain in accordance with the International Bill of Human Rights, the ILO Fundamental Principles and Rights at Work, the UN Guiding Principles on Business and Human Rights, the UN Global Compact and the OECD Guidelines for Multinational Enterprises. These commitments extend to all suppliers and contractors and require them to implement due diligence processes and cascade these obligations to their own supply chains. The Supplier Code of Conduct, included in all contracts, sets the main requirements that all suppliers have to commitment when working with EDP ensuring legal compliance, ethical conduct, human and labour rights, health and safety, environmental protection and responsible supply chain management. EDP's Procurement Policy integrate ESG considerations into all procurement stages, from request for proposals to contract signing and monitoring. EDP embeds ESG considerations across its procurement a c t i v i t i e s , r e q u i r i n g s u p p l i e r s t o m e e t e t h i c a l , e n v i r o n m e n t a l , l a b o u r , a n d h u m a n - r i g h t s s t a n d a r d s w h i l e e n s u r i n g c o m p l i a n c e w i t h a n t i - b r i b e r y a n d i n t e g r i t y m e a s u r e s . E S G i n v o l v e m e n t i n t h e s o u r c i n g - t o - c o n t r a c t p r o c e s s i s a p p l i e d p r o p o r t i o n a l l y t o t h e E S G r i s k o f e a c h p u r c h a s e c a t e g o r y , w i t h h i g h e r - r i s k c a t e g o r i e s r e c e i v i n g d e e p e r a s s e s s m e n t a n d p a r t i c i p a t i o n f r o m E S G s p e c i a l i s t s t h r o u g h t h e r e l e v a n t d e c i s i o n p o i n t s . T h i s r i s k - b a s e d a p p r o a c h s t r e n g t h e n s s u p p l y c h a i n r e s i l i e n c e , p r o m o t e s responsible supplier behaviour, and aligns procurement practices with EDP’s sustainability commitments. EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 156
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EDP's Environmental Policy sets clear environmental requirements, including compliance with applicable environmental legislation and the adoption of practices that prevent pollution, reduce resource consumption and protect ecosystems. Suppliers are expected to implement effective environmental management measures, promote efficient use of materials, and support c i r c u l a r - e c o n o m y p r i n c i p l e s . E D P i n t e g r a t e s t h e s e r e q u i r e m e n t s i n t o s u p p l i e r a s s e s s m e n t a n d engagement processes to ensure that environmental performance is continuously improved across the value chain. The Health and Safety Policy reinforces the goal of zero harm for employees and suppliers. Governance is strengthened by the Code of Ethics and the Whistleblowing Management Regulation, w h i c h e n s u r e s c o n f i d e n t i a l r e p o r t i n g a n d s t r i c t p r o t e c t i o n a g a i n s t r e t a l i a t i o n f o r g o o d - f a i t h r e p o r t e r s and those assisting them. Further information is available in the Business Conduct chapter. The Board of Directors directly monitored procurement process management structures responsible for implementing these policies and ensuring adherence. Global procurement, qualification and process t e a m s , s u p p o r t e d b y m a r k e t - l e v e l o p e r a t i o n a l t e a m s i n t h e b u s i n e s s u n i t s , m a n a g e s u p p l i e r s a c r o s s t h e bid, award and execution cycle, coordinating closely with sustainability, environmental and health and safety teams so that ESG priorities are considered from tendering through construction and operations. A permanent working group under sustainable procurement reviews procedures, updates guidance and s t e e r s d a y - t o - d a y m a n a g e m e n t o f s u s t a i n a b i l i t y i n t h e s u p p l y c h a i n . EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 157
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BP-2 | G1-2 Actions ESG supply chain due diligence process E D P o p e r a t e s a n i n t e g r a t e d , m u l t i - s t a g e E S G s u p p l y c h a i n d u e d i l i g e n c e p r o c e s s e m b e d d e d i n t h e procurement lifecycle and aligned with international responsible business conduct standards. EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 158
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The process starts by identifying the ESG risk of the procurement category, inherent to the service or equipment supplied. Supplier ESG screening i s t h e f i r s t s t e p a n d e v a l u a t e s c o r p o r a t e - l e v e l E S G m a t u r i t y o f t h e s u p p l i e r s , using a structured set of indicators developed with internal experts and updated regularly to reflect regulation and best practice. The indicators are organised on 4 ESG criteria: [1] decarbonisation and climate action, [2] circular economy and waste management, [3] human and labour rights including supply chain management, [4] biodiversity and natural resources, complemented by a review of t h i r d - p a r t y E S G i n f o r m a t i o n s u c h a s p u b l i c r e p o r t i n g , c e r t i f i c a t i o n s , r a t i n g s a n d c o n t r o v e r s i e s . T h i s assessment determines whether suppliers have policies, systems, targets and performance evidence expected by EDP and establishes a baseline maturity with a clear roadmap for improvement. D u r i n g p r o c u r e m e n t p h a s e s , E D P c o n d u c t s a p r o j e c t - s p e c i f i c supplier ESG screening focusing on the exact supply, technology or service information. For enablement equipment suppliers (solar, wind, networks and electrical mobility), EDP applies two decisive criteria: • Traceability - the company assesses the supplier’s ability to map their supply chain beyond tier one, disclose component origin, identify upstream entities and demonstrate whether any stage is linked to h i g h - r i s k g e o g r a p h i e s . T h e d e p t h o f t r a c e a b i l i t y d e p e n d s o n t h e t e c h n o l o g y a n d r i s k p r o f i l e ; f o r example, photovoltaic module suppliers are expected to provide full supply chain visibility to mitigate e x p o s u r e t o h i g h - r i s k p o l y s i l i c o n , w h i l e o t h e r t e c h n o l o g i e s m a y r e q u i r e p r o p o r t i o n a t e a p p r o a c h e s . T o a c c e l e r a t e a n d s t a n d a r d i s e t h i s c a p a b i l i t y , E D P c r e a t e d a c r o s s - f u n c t i o n a l w o r k i n g g r o u p t o d e v e l o p internal traceability protocols and a traceability tool, drawing on international frameworks in its main m a r k e t s . T r a c e a b i l i t y i s n o w a c o r e e l e m e n t o f s u p p l i e r e n g a g e m e n t , w i t h p r o j e c t - l e v e l t r a c e a b i l i t y m a p s a n d c o m p l i a n c e w i t h e q u i p m e n t - s p e c i f i c p r o t o c o l s f o r m i n g p a r t o f n e g o t i a t i o n a n d c o n t r a c t execution • Product Climate Performance - EDP evaluates the availability and credibility of climate information, i n c l u d i n g l i f e - c y c l e a s s e s s m e n t s a n d e n v i r o n m e n t a l p r o d u c t d e c l a r a t i o n s , w i t h t h i r d - p a r t y verification where possible. Given the variability of standards across technologies, assessments are p e r f o r m e d c a s e b y c a s e t o i m p r o v e u p s t r e a m S c o p e 3 a c c o u n t i n g a n d t o f a v o u r l o w e r - c a r b o n solutions. For service providers, Supply ESG Screening focuses on verifying adequate environmental and health and safety management. EDP reviews ISO 14001 and ISO 45001 certifications; where these are absent, the supplier must submit an action plan with a risk mitigation strategy suited to the service and region. The results of Supplier ESG Screening and Supply ESG Screening are combined into a global ESG score for each procurement process, with weightings adapted by category to ensure fairness and proportionality. The ESG team safeguards the methodology, supports the procurement processes and ensures integrity of the scoring process. Once an award is approved, EDP formalises the relationship with contracts that include mandatory ESG and traceability clauses. These clauses set obligations on human and labour rights, environmental p e r f o r m a n c e , a n t i - c o r r u p t i o n a n d t r a n s p a r e n c y , r e q u i r e e v i d e n c e s u b m i s s i o n t h r o u g h o u t e x e c u t i o n a n d grant EDP audit and inspection rights. EDP monitors supplier performance during execution via audits, inspections, performance reviews and s t r u c t u r e d f o l l o w - u p s, u s i n g t h i r d - p a r t y p l a t f o r m s a n d i n t e r n a l t o o l s . W h e r e g a p s a r e i d e n t i f i e d , corrective action plans are defined, monitored and verified to closure. EDP’s due diligence, historically f o c u s e d o n c o n t r a c t e d a n d s o o n - t o - b e - c o n t r a c t e d s u p p l i e r s , i s p r o g r e s s i v e l y e x t e n d i n g t o i n d i r e c t suppliers. Auditing at the level of suppliers’ suppliers is advancing through dialogue with key partners, revised specifications and equivalent commitments, together with the development of principles for independent auditing across tiers. No violations of UNGPs, ILO standards or OECD Guidelines were identified through EDP’s due diligence processes in the most recent period. The due diligence process is complemented by robust grievance and remedy mechanisms. The Speak Up Channel is accessible to all value chain workers and supports confidential and anonymous reporting. Each submission follows a structured pathway including screening, independent investigation, Ethics Committee deliberation and management action. EDP is integrating a verification step in inspections to confirm workers’ awareness of available channels and strengthen the effectiveness of the mechanism. Additionally, EDP operates a disciplinary and sanctioning regime within tender documentation and c o n t r a c t s f o r h e a l t h a n d s a f e t y a n d e n v i r o n m e n t a l o b l i g a t i o n s s o t h a t c o n s e q u e n c e s o f n o n - c o m p l i a n c e are explicit and enforceable. Supplier Engagement Supplier engagement plays a central role in EDP’s commitment to building a sustainable, resilient and h i g h - p e r f o r m i n g v a l u e c h a i n . T h e G r o u p r e c o g n i s e s t h a t s u p p l i e r s a r e e s s e n t i a l p a r t n e r s i n t h e e n e r g y t r a n s i t i o n a n d t h a t t h e a c h i e v e m e n t o f l o n g - t e r m s u s t a i n a b i l i t y g o a l s d e p e n d s o n t r u s t , t r a n s p a r e n c y and continuous collaboration. Through the EDPartners programme, EDP has established a structured, strategic and operational approach to work jointly with its suppliers, promoting the exchange of best p r a c t i c e s , c o - d e v e l o p m e n t o f i n i t i a t i v e s , a n d a l i g n m e n t o f p r o c e s s e s t h a t r e i n f o r c e e x c e l l e n c e a n d deliver a positive impact on society. EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 159
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The EDPartners Journey provides the backbone for this approach, ensuring that engagement begins at the earliest stage—registration and qualification—and continues throughout the entire lifecycle of the relationship. • Registration validates supplier data and ensures that onboarding reflects both risk and sustainability criteria • Qualification follows as a more targeted process, identifying suppliers suited to specific categories based on technical, financial, environmental and compliance criteria • During negotiation, EDP uses digital tools to ensure transparency, equal opportunities and secure communication. E S G a s s e s s m e n t s c o m p l e m e n t t h e s e s t e p s t h r o u g h a s t r u c t u r e d , m u l t i - y e a r c y c l e d e s i g n e d t o understand each supplier’s environmental, social and governance maturity, identify risks and improvement opportunities, and enhance alignment with EDP’s strategic commitments. Performance Evaluation then supports continuous operational improvement by assessing suppliers on execution, environmental management and compliance with ethical, human and labour rights standards. E n g a g e m e n t w i t h e x t e r n a l p a r t n e r s f o l l o w s a r i s k - b a s e d a p p r o a c h t h a t i n c o r p o r a t e s b u s i n e s s r e l e v a n c e and ESG exposure. Those with higher impact on EDP’s activities are subject to more frequent interaction, structured feedback and closer coordination across internal teams. EDP promotes continuous improvement by providing clear ESG expectations, offering guidance and training, and integrating sustainability considerations early in the relationship. This approach strengthens transparency, supports consistent performance standards and helps ensure alignment with EDP’s ESG commitments across the value chain. In 2025, 6 percent of suppliers were considered with ESG risks, representing approximately half of total p u r c h a s i n g v o l u m e , w h i c h r e i n f o r c e s t h e i m p o r t a n c e o f t a r g e t e d , r i s k - b a s e d e n g a g e m e n t . Two flagship initiatives illustrate EDP’s commitment to meaningful and constructive dialogue: • EDPartners Talks focus on strengthening proximity and understanding between EDP and its strategic suppliers. Through open conversations structured around topics such as EDP’s competitive advantages, communication channels, innovation in procurement and challenges to becoming an EDP supplier, these sessions allow suppliers to share perspectives freely while offering valuable insights to EDP • ESG workshops, concentrate specifically on sustainability. These sessions are specific for suppliers from critical material categories—such as cables, solar panels and wind turbines —to analyse ESG maturity, discuss management systems for decarbonisation, circularity, human rights, biodiversity and explore market drivers and peers’ responses to growing ESG expectations. By sharing knowledge and expectations and by identifying concrete next steps, these workshops support the acceleration of ESG maturity across the supply chain. Engagement is also deeply rooted in EDP’s due diligence approach. Throughout the procurement process, suppliers are contacted frequently to assess their capacity to manage risks and to ensure that ESG requirements are understood and met. Initial engagement during registration and qualification enables EDP to analyse the supplier’s corporate ESG performance. D u r i n g R F P s , e n g a g e m e n t b e c o m e s m o r e d e t a i l e d a n d p r o j e c t - s p e c i f i c , e n s u r i n g t h a t s u p p l i e r s understand applicable requirements before contracting. In the awarding phase, ESG performance i n f l u e n c e s d e c i s i o n - m a k i n g , a n d c o n t r a c t u a l c l a u s e s a r e n e g o t i a t e d t o s e c u r e c o m p l i a n c e d u r i n g e x e c u t i o n . O n c e c o n t r a c t s a r e a c t i v e , s u p p l i e r s a r e m o n i t o r e d t o v e r i f y t h e e x e c u t i o n o f E S G - r e l a t e d obligations, demonstrate traceability and provide updates on improvements or corrective actions. For suppliers in categories exposed to higher risks—especially equipment suppliers—engagement is frequent and continuous, and for the most critical service providers, integrity due diligence complements ESG analysis to identify potential controversies or integrity risks. All stakeholders, including suppliers and value chain workers, also have access to EDP’s Speak Up channel to report concerns anonymously and securely. Responsibility for supplier engagement, particularly regarding ESG, is shared across the organisation but anchored in leadership. The Purchasing Director and the ESG Director hold primary accountability for ensuring that engagement occurs and that its outcomes inform procurement strategy, although specialised technical teams coordinate priorities depending on the type of purchase. This structured governance ensures coherence, alignment and timely integration of insights gathered through engagements into EDP’s risk management and sustainability frameworks. EDP also monitors the effectiveness of engagement through its system of evaluations, audits and f o l l o w - u p s . I n t h e m o n i t o r i n g p h a s e , c o n t r a c t u a l c l a u s e s a r e e n f o r c e d w h e n n e e d e d , a n d s u p p l i e r s a r e asked to provide evidence of progress on traceability and ESG commitments negotiated earlier. The E S G D u e D i l i g e n c e i n p l a c e p l a y s a n i m p o r t a n t r o l e i n t h i s p r o c e s s , e n a b l i n g o n - s i t e v e r i f i c a t i o n o f c o m p l i a n c e w i t h E D P ’ s s u s t a i n a b i l i t y c r i t e r i a a n d s u p p o r t i n g t h e c l o s u r e o f n o n - c o n f o r m i t i e s t h r o u g h corrective action plans. This approach ensures that engagement translates into measurable improvements and that risks are mitigated proactively. EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 160
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Looking ahead, EDP is further strengthening the engagement model for strategic suppliers through a t w o - l e v e l m o n i t o r i n g a n d p r o x i m i t y f r a m e w o r k . T h i s m o d e l i n t e g r a t e s s y s t e m a t i c i n d i c a t o r - b a s e d monitoring—supported by alerts for issues such as adverse news—with annual action plans that involve f a c e - t o - f a c e m e e t i n g s a n d c l o s e r c o o r d i n a t i o n a c r o s s p r o c u r e m e n t , s u s t a i n a b i l i t y a n d r e g i o n a l t e a m s . CASE STUDY Since 2022, EDP has reshaped its U.S. supply chain to strengthen resilience, reduce import dependency, and align with tax incentives requirements. Reducing import and FEOC risks EDP shifted from international suppliers to a broader portfolio of partners with U.S.-based manufacturing, m i t i g a t i n g F E O C - r e l a t e d c o n s t r a i n t s a n d i m p r o v i n g r e l i a b i l i t y . Strengthening domestic solar supply A m u l t i - y e a r a g r e e m e n t w i t h F i r s t S o l a r s e c u r e s 1 . 8 G W p o f U . S . - m a d e m o d u l e s f o r 2 0 2 6 – 2 0 2 8 , w h i l e additional domestic supply options further reinforce flexibility and compliance with domestic content rules. O B B B A - a l i g n e d p r o c u r e m e n t Local sourcing enhances eligibility for tax incentives, supporting stronger project economics and l o n g - t e r m c o m p e t i t i v e n e s s . > 5 G W o f s a f e - h a r b o u r e d c a p a c i t y Between 2023–2025, EDP secured equipment for over 5 GW, locking in tax credit eligibility for projects with COD through 2030. Impact This strengthened supply chain model improves regulatory compliance, financial resilience, and the value of EDP’s U.S. renewable pipeline. BP-2 Targets and metrics EDP’s supply chain targets and performance metrics are directly aligned with the Group’s Business Plan 2026–2028 and with its ambition to accelerate the energy transition while ensuring business continuity, resilience and responsible conduct across the value chain. Given that more than 30% of EDP’s total greenhouse gas emissions originate in the supply chain, supplier engagement is a critical lever for decarbonisation, risk mitigation and long-term value creation. Targets EDP has defined clear and time-bound targets to manage material environmental, social and governance (ESG) impacts, risks and opportunities in its supply chain: • Full ESG risk coverage: By 2028, 100% of purchases identified as having ESG risks will be covered by ESG due diligence, in line with the Business Plan commitment to ensure that all suppliers are assessed against integrity, human rights, environmental and legal compliance criteria. • Sustainable procurement and decarbonisation: By 2028, EDP targets more than 80% of the purchasing volume of enablement equipment—such as photovoltaic modules, wind turbines, inverters, batteries, transformers and cables—to be covered by carbon footprint information, supporting supplier engagement and emissions reduction along the value chain. • Traceability and human rights: Full traceability of photovoltaic modules is already a contractual requirement, and EDP is working with battery and other critical equipment suppliers to progressively improve traceability systems, supporting the prevention and mitigation of human rights and forced labour risks. • High standards of integrity: All counterparties with contracts above €25,000 remain subject to integrity, human rights and legal compliance due diligence, ensuring coverage of approximately 99% of total purchasing volume, in line with EDP’s highest standards of business conduct. EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 161
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Metrics and monitoring Progress against these targets is monitored through a comprehensive set of quantitative and qualitative indicators embedded across supplier qualification, procurement and contract management processes. Key metrics include: • ESG due diligence coverage, measured as the percentage of purchasing volume and number of suppliers subject to ESG risk assessment and enhanced due diligence procedures • Supplier ESG scores, applied at qualification, tender and monitoring stages, supporting informed procurement decisions and risk-based supplier segmentation • Audit and inspection performance, including the number of factory audits and site inspections conducted, the identification of non-conformities, and the timely closure of corrective action plans • Traceability performance, assessed through the completeness and quality of supply chain mapping and documentation for critical equipment, notably solar modules and batteries • Carbon footprint visibility, measured by the share of enablement equipment purchasing volume covered by verified carbon footprint information • Human rights and grievance mechanisms, including worker awareness of the Speak Up channel, confirmation of awareness during inspections, and the timely resolution of any human rights allegations • Service provider performance, assessed against internationally recognised standards, including ISO-certified management systems where applicable. Through these targets and metrics, EDP reinforces a proactive approach to supplier engagement, prioritising prevention, transparency and continuous improvement. This framework supports on-time and on-cost project delivery, strengthens resilience against supply disruptions, and ensures that the supply chain contributes positively to EDP’s decarbonisation pathway and broader sustainability commitments under the 2026–2028 business plan. SUPPLIERS Number of suppliers by region1 # 13,325 13,238 Iberia # 6,944 6,208 South America # 3,697 4,233 North America # 868 827 Rest of Europe # 1,551 1,650 Asia-Pacific # 347 413 Purchase volume by region m€ 4,398 6,442 Iberia m€ 1,844 1,940 South America m€ 751 918 North America m€ 1,341 1,720 Rest of Europe m€ 391 1,827 Asia-Pacific m€ 71 37 Local suppliers volume of purchases2 Iberia % 88 90 South America % 96 99 North America % 99 97 Rest of Europe % 91 96 Asia-Pacific % 84 96 Significant Suppliers3 ISO 14001 or equivalent % 48 53 OHSAS 18001 or equivalent % 38 42 Assessed by ESG criteria % 82 85 Service providers with audited ESG risks % 52 57 ORIGIN OF FUEL Coal Origin Colombia % 100 0 South Africa % 0 100 Supply chain UN 2025 2024 EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 162 1 Number of suppliers by purchase region. The number of total suppliers considers the count of single suppliers in all EDP geographies. Therefore, it does not correspond to the sum of the geography’s suppliers, once it discards the double counts of the ones that may supply different EDP geographies 2 Proportion of spending on local supplier 3 Proportion of critical suppliers exposed to environmental or health and safety risks with purchase volumes exceeding €500k
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Gas Origin USA % 100 79 Trinidad and Tobago % 0 21 PURCHASE CATEGORY Materials and equipment % 12 12 Corporate services and IT % 20 16 Construction and technical services % 59 66 Fuels % 9 6 SUPPLIERS SCREENING1 Total tier 1 suppliers # 13,325 13,238 Total tier 1 critical suppliers # 576 695 Total spent on critical tier 1 suppliers % 54 51 Total non tier 1 significant suppliers # 546 821 Total number of significant suppliers (Tier-1 and non Tier-1) # 1,122 1,516 SUPPLIER ASSESSMENT2 Total suppliers with ESG desk assessments # 470 593 Significant suppliers with ESG desk assessments3 % 82 85 Suppliers assessed with high ESG risks # 470 593 Suppliers assessed with high ESG risks4 % 4 NA Suppliers assessed with high ESG risks and improvement action plans % 84 53 Suppliers assessed with high ESG risks that were terminated # 0 0 IMPROVEMENT ACTIONS PLANS5 Suppliers supported in improvement action plans # 97 58 Suppliers assessed with high ESG risks, supported in improvement action plans implementation % 21 10 Supply chain UN 2025 2024 CAPACITY BUILDING PROGRAMS Suppliers in capacity building programs # 452 491 Significant suppliers in capacity building programs % 78 71 HUMAN RIGHTS IN THE SUPPLY CHAIN Suppliers critical in human and labor rights (including health and safety) % 79 28 Suppliers critical in human and labor rights with r i s k - m i t i g a t i o n p l a n s % 69 70 Supply chain UN 2025 2024 EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 163 1 Total number of suppliers assessed via desk assessments/on-site assessments | Tier 1 suppliers: This refers to suppliers that directly supply goods, materials or services to the company. 2 R e s u l t s o f t h e s u p p l i e r ’ s E S G p e r f o r m a n c e a s s e s s m e n t , a s d e s c r i b e d i n t h e E S G S u p p l y C h a i n D u e D i l i g e n c e P r o c e s s s e c t i o n | S u p p l i e r s w i t h h i g h E S G r i s k s : S u p p l i e r w i t h ≥ 1 5 0 k € s u p p l y a c c u m u l a t e d i n t h e r e p o r t i n g p e r i o d a n d a t l e a s t 1 E S G h i g h r i s k i d e n t i f i e d i n t h e c r i t i c a l i t y m a t r i x 3 Total suppliers with ESG desk assessments / Total tier 1 critical suppliers 4 Suppliers assessed with high ESG risks / Total tier 1 suppliers 5 Total number of suppliers supported in corrective action plan implementation
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3.3. Local communities EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 164 Energy infrastructure exists within communities, not apart from them. EDP's operations— from electricity networks to renewable generation and energy solutions—create local employment and engage suppliers, yet they also bring changes that affect daily life, land use, and local environments. Building and operating energy assets generates socio-economic opportunities. Construction creates jobs, ongoing operations require local services, and social investment programs respond to community-identified needs—from installing solar panels in schools to supporting entrepreneurship in areas facing depopulation risk. These contributions strengthen relationships and build the social licence necessary for project development and long-term operations. However, energy operations can also cause environmental changes affecting communities. Air, water, and soil quality concerns, alongside construction disruption and operational impacts, directly affect community health and well-being. Addressing these potential negative impacts requires early, transparent engagement—not as compliance formality, but as fundamental business practice that shapes project design, prevents conflicts, and maintains operational continuity. Community resistance represents a material business risk. Opposition can delay projects, increase costs, damage reputation, and ultimately prevent development. In 2025, 94% of new projects included engagement plans established before construction began, enabling early dialogue that identifies concerns, co-creates solutions with stakeholders, and builds mutual understanding before formal approval processes. These plans encompass accessible grievance mechanisms with maximum 30-day response times, regular consultations, and action plans addressing community-identified priorities. Social dialogue creates strategic value beyond risk mitigation. Stakeholder input informs site selection, operational approaches, and investment decisions. Communities near EDP operations identify specific needs — employment training, small business support, infrastructure improvements — and EDP develops targeted programs addressing these priorities: employment training through programs like Energy Professionals, small business support through ENTAMA. This engagement reduces development timelines, strengthens competitive positioning in markets where community acceptance differentiates projects, and generates insights that shape responsive business strategies aligned with evolving local expectations.
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EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 165 Policies Code of ethics Human and labour rights policy Stakeholder relationship policy Local stakeholder engagement policy Engage communities proactively through structured consultation, transparent communication and follow-up mechanisms across the project lifecycle. Set up project-specific consultation and information channels to enable inclusive dialogue. Actions Strengthen early and continuous local stakeholder engagement Establish transparent local communication channels Validate engagement plans with communities to confirm consent and enable project operation. Secure community consent and social licence to operate Implementing corporate social responsibility programs that support local economic growth, expand energy access, strengthen skills and education, advance environmental action, and empower vulnerable communities. Deliver community-driven local development and social investment 2028 target 100% of new projects1 2025 94% 1 Projects subject to the Investment Committee’s approval Social investment policy Policies and guidelines New projects1 with material impact on communities include an engagement plan 2028 target
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Impacts, risks and opportunities ESRS-2.SBM-3 Material IRO Time-horizon Definition Local socio-economic development Actual positive impact Upstream, own operations - Projects that strengthen communities through infrastructure, humanitarian aid, socio-economic development and related employment opportunities, inclusion, and cultural and natural heritage preservation Environmental and social changes affecting local communities Actual negative impact Own operations - Power generation can cause environmental degradation, including air, water, and soil pollution, affecting community health and well-being Social dialogue and local stakeholder engagement Opportunity Own operations Short-term Effective communication through social dialogue fosters valuable insights that shape responsive business strategies, enables proactive issue resolution, and strengthens a social licence to operate Community resistance Risk Own operations Short-term Community resistance can result in delays, increased costs, reputational damage, or even project cancellations EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 166
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BP-2 Integration in strategy and business model Impacts Local socio-economic development EDP's construction and maintenance of assets creates opportunities for local socio-economic development through job creation, engagement of local suppliers and service providers, and training provision for local communities. Stability of energy provision also contributes to community development. To strengthen presence in local communities and prevent risks, EDP implements Corporate Social Responsibility (CSR) initiatives, including infrastructure upgrades such as installing solar panels in communities and local NGOs, and refurbishing facilities and homes to improve energy efficiency. Also within this scope, EDP encourages skills development, supports local entrepreneurship, and stimulates job creation in renewable energy. EDP also supports projects that preserve cultural and natural heritage, strengthening local identity and creating economic opportunities for communities. Local socio-economic development strengthens the Social Licence to Operate required for business development and project implementation. Community support enables project construction and operation in EDP's core business segments: electricity networks, renewable generation, and energy solutions. CSR initiatives build trust that facilitates regulatory approvals and reduces opposition to new projects. Environmental and social changes affecting local communities Operations such as power generation may result in environmental degradation, including air, water, and soil pollution, which can affect the health, quality of life, and well-being of local populations. Managing environmental and social impacts is essential to maintain operational continuity and secure project permits. EDP commits to early communication with communities, preventing crisis and providing solutions or compensations. This approach protects the Group's operational assets and enables expansion in existing operational areas. Risks Community resistance Opposition or objections from communities in areas where EDP operates may emerge regarding planned construction or expansion projects for power plants, transmission lines, or associated infrastructure. Community resistance can lead to project delays, increased costs, reputational impacts, and project cancellations. Community resistance directly affects EDP's growth strategy and capital allocation. Project delays or cancellations impact the Group's renewable energy capacity expansion targets and infrastructure development plans. Managing this risk is critical for achieving operational and financial objectives in key markets. Opportunities Social dialogue and local stakeholder engagement Establishing accessible, transparent and effective communication channels between EDP and stakeholders provides insights into public perceptions, concerns, and expectations. This engagement supports business strategy development. Seeking stakeholder input enables addressing issues in advance, enhancing trust, and aligning operations with evolving societal expectations. Stakeholder engagement informs site selection, project design, and operational approaches. Early dialogue reduces project development timelines and costs by identifying potential concerns before formal processes begin. This opportunity strengthens competitive positioning in markets where community acceptance is a differentiating factor for project approval. BP-2_25 Policies EDP approved its Local Stakeholder Engagement Policy in 2023, and it was revised in 2025. It is published at its site under "Stakeholders" section. A set of Procedures was shared with all Community/ Stakeholders teams at Group level, and is also published at public level under the same section. These are also shared at the Sharepoint platform those teams share, "Community Gate Keeper". The premise is to map and engage with the communities before starting a project, and throughout operation. All types of Communities are to be identified, mapped, consulted and approached according to their specificities, including indigenous communities. EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 167
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EDP also has its Social Investment Policy, which establishes the objectives, corporate strategies and regulations relating to EDP's Social Investment, which is expressed in social responsibility programmes and projects in the community through its own and collaborative initiatives, donations and volunteering. This policy is also published on the edp.com website. BP-2_26 Actions Stakeholder engagement process Every stakeholder engagement plan for local development, according to the Procedures for local Stakeholder engagement at EDP Group made public in 2025, must outline the actions designed to address the impacts generated at the local level. When communities are affected by EDP's activities — whether during the planning, construction, operation, or decommissioning of energy production assets — local stakeholders, including local authorities, are consulted to understand their needs and expectations. This dialogue enables EDP to design and implement initiatives tailored to the priorities, context, and aspirations of each community. Stakeholder engagement procedures include communication channels per project, established before construction begins, at a consulting time. These channels comprise public in-person consultations, surveys, and public disclosure of plans through local media when available. Through this consultation process, communities identify specific needs. In response, EDP develops targeted programs to address local concerns and build Social Licence to Operate. ENERGY PROFESSIONALS PROGRAM This CSR program trains new employees in the energy sector — electricians, solar technicians, and wind maintenance technicians — in communities near EDP production centres with low employment opportunities. The initiative addresses local employment challenges identified through stakeholder engagement while building capacity for EDP's operational needs. In areas where local economy faces challenges, stakeholders consistently identify the need to support local entrepreneurship and small businesses. EDP responds through programmes that stimulate economic development in territories where the Group operates. ENTAMA PROGRAM Through stakeholder consultation, communities identified the need to support local entrepreneurship and small businesses in areas facing depopulation risk. Local stakeholders highlighted economic development as a priority concern. In response, EDP developed ENTAMA (a CSR initiative) to address these community-identified needs. The program was first implemented and its impact measured in Spain, then replicated in other countries based on consultation results showing similar concerns. ENTAMA supports projects led by small local businesses, stimulating economic development, job creation, and strengthening of local supplier networks. The program generates economic activity in the territory and supports population retention in areas at risk of depopulation. The plans established after mapping and consulting the community are audited by it, thus conferring consent (and a Social License to Operate) into operation. In 2025, 94% of all operation sites, including Indigenous Communities, had an Engagement Plan in action. Grievance mechanisms The communication channels evidence where the population may access if there are grievances to file, or to get information on the plans ahead. To ensure the accessibility of these mechanisms, EDP prioritizes the clear communication and dissemination of its available interaction channels among local communities, fostering a culture of transparency and open dialogue from the earliest stages of any project. EDP is committed to ensuring that non-retaliation principles are fully upheld throughout all communication and grievance processes (see Business conduct section on grievance mechanisms for more details). These channels help the local teams and the stakeholder teams at the EDP Group to monitor the population response towards its presence, also monitoring complaints, their impacts, the plans designed to mitigate them and how they were consulted with the communities. That also includes their closing/ resolutions, should that be the case. Indigenous communities are addressed with communication specificities, making sure all stakeholders are able to use the grievances processes designed. EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 168
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According to the EDP Group Procedures for local Stakeholder engagement, at 6.1. vii., the steps to be taken are defined, implementing a maximum of 30 days from the date of complaint reception, to have a resolution/response on the case. Corporate social responsibility and social investment Building on this approach, EDP implements CSR initiatives aimed at preventing, mitigating, and remedying potential impacts on communities. In addition to addressing impacts, these initiatives also respond to identified risks and opportunities, generating outcomes by fostering trust, strengthening relationships with local stakeholders, building a Social License to Operate, and contributing to the resolution of local development priorities and challenges. Reinforcing its commitment to local communities, and through social investment, the EDP Group creates value for communities through its own initiatives, donations, and volunteering programs. From Europe to South America, North America, and the Asia-Pacific region, EDP develops social projects with a focus on ensuring a just energy transition that leaves no one behind. To operationalise this vision, EDP is developing a portfolio of social investment programs as listed below in several countries, but also has the flexibility to implement local projects when identified by local stakeholders. Social investment programs i. Solar Energy Programs: Implementation of solar panels to bring the benefits of solar (in self- consumption or solar communities) in schools, rural or vulnerable communities or social organisations all over the world (Solidarity Solar). EDP also implements off grid solar projects (A2E) that promote the environmental, social and economic development of rural communities in developing countries in Africa and, for the first time in 2025, in Brazil ii. Energy Efficiency Programs for vulnerable households: Offering energy-saving and energy- efficient solutions in the homes of low-income families, e.g. windows and doors with improved insulation, energy-efficient equipment, helping these people maintain thermal comfort in their homes and preventing cardiovascular disease iii. EDP Solidarity Energy: A fund from the 3 foundations in Portugal, Spain and Brazil that supports projects that promote social inclusion and positive societal impact through non-refundable donations. It targets conversion to renewable energy, energy efficiency and electric mobility iv. Hope Fund: A fund that will invest in social purpose organisations worldwide with a sustainable business model, that address Fair Energy Transition challenges, with innovative impact solutions (this investment aims for total/partial capital recovery while philanthropy assumes complete loss of capital from the onset) v. Energy Professionals: This program trains new employees in the energy sector to meet workforce needs and ensure that people living in communities near EDP's production centres, and other minorities have access to employment opportunities within this sector vi. Entrepreneurship programs: Promote the energy transition and the development and reindustrialization of local communities by supporting projects in territories where EDP has, or plans to have, energy production centres, and which are at risk of depopulation (e.g. Entama) vii. Educational programs and Scholarships: Promotion of Educational Programs so that new generations understand the importance of clean energy sources or promote the education of new generations living in the various municipalities where the EDP Group has a presence to award scholarships to students with limited financial resources viii. Environmental Sustainability projects: Projects aimed at protecting species or natural heritage, such as cleaning up beaches and oceans or restoring forests, while helping to maintain and strengthen ecosystem services that benefit local communities. RE.EARTH PROJECT Re.Earth illustrates the Environmental Sustainability Projects approach. This pilot initiative launched in Portugal in 2024 aims to create a local circular economy based on the use of light biomass sourced from small landowners. These landowners clear their properties and have the opportunity to sell the resulting agroforestry waste. EDP then uses this biomass to produce energy and heat the facilities of social organisations. In 2024 and 2025, 240 hectares of land were cleared in the Boticas area in Portugal, where 84% of landowners stated that, without EDP's support, it would not have been possible to carry out the forest management of their properties. Complementary investment areas Beyond the core programs listed above, which are structured around the Fair Energy Transition theme, EDP also invests in complementary areas that support local communities: i. Culture: Support through EDP foundations in Brazil, Spain and Portugal ii. Emergency Relief: Response to natural disasters, wars, and other crisis EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 169
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iii. Other Community Needs: Flexible support addressing specific local priorities. Tax-incentivized funds (Verba Incentivada, Brazil) In Brazil, EDP redirects a portion of income tax obligations toward pre-approved social initiatives in education, culture, sports, health, e l d e r l y - s u p p o r t , o r c h i l d r e n - a n d - y o u t h p r o g r a m s t h a t s u b s e q u e n t l y undergo EDP’s internal analysis and evaluation process to decide which projects will be supported. This mechanism complements voluntary social investment and enables scaled support for external institutions and community projects aligned with the Group's priorities in education, inclusion, culture, community development and Fair Energy Transition. Reporting and Transparency The social investment projects developed by EDP and their impacts on communities are disclosed in detail in the Social Investment Report. It is also possible to find information about EDP's social investment projects on the EDP YES - You Empower Society - website. BP-2 Targets and metrics Engagement plans and risk management EDP engages with affected communities at different levels across the territories where it operates, adopting a prevention-first approach to identify and manage potential social risks and impacts. Before any investment decision, local teams conduct a structured stakeholder mapping exercise to identify relevant community groups and representatives, understand local socio-economic and cultural characteristics, and anticipate issues that may emerge. This early assessment supports the definition of an appropriate communication and engagement set-up and informs the development of a project-level engagement plan. The plan is designed to include affected communities from the outset and to remain adaptable as new information and feedback are gathered, supporting the conditions for building and maintaining EDP’s social licence to operate. This early phase is overseen by the Policy, Regulation & Stakeholders unit (PR&S) through local and regional reporting, in line with the Local Stakeholder Policy and associated procedures. As projects move into the operational phase, engagement is maintained through both mandatory requirements and voluntary initiatives. Voluntary engagement is mainly implemented through programmes led by the Social & Foundations team, which are defined with local or regional objectives and monitored through specific metrics. Engagement approaches are tailored to local context and may vary by country and within regions. Accordingly, the Policy and Procedures require that targets and metrics are defined within each engagement plan, based on the outcomes of stakeholder mapping and impact/risk assessment. These targets are monitored and regularly reported to the Country Manager, the Regional Stakeholder Coordinator and PR&S. EDP's local engagement plans encompass both business actions and community initiatives linked to social investment programs. These action plans aim to: • Build trust and foster relationships, enhancing project acceptance • Anticipate and address local concerns, reducing risks and generating benefits for the community • Co-create solutions with local stakeholders, drawing on their insights and promoting ownership. Community resistance has been identified as a possible risk for business. Monitoring the complaints and their outcomes, as well as auditing the procedure, is part of the surveillance process that the Group has implemented. Throughout the chain of activities, there is a commitment to have grievances processes available to the population. These are audited and analysed, as stated at the Stakeholder Policy. Every two years, EDP commits to have assessments on their stakeholders. In 2025 there was no macro-Group audit, but the local projects that represented investment and/or risks had studies prepared upon their engagement, the community satisfaction and the Social Licence to Operate. Following the hearing processes and the acknowledgment of any risks, complaints, and their addressing, there are Action Plans with measures to address populations. Social investment planning Every year, the teams responsible for social investment initiatives prepare a plan outlining the prepared actions and their respective budgets. Compliance with investment objectives is monitored by the corporate team, with the EDP Group's Business Units and Foundations involved through regular meetings to track progress. Project-Level targets and Indicators Beyond global investment targets, specific targets are also defined for each project. These include outputs (e.g., number of beneficiaries reached, installed capacity) and impact indicators relevant to the project's scope (e.g., number of jobs created). Project managers monitor both the progress and the achievement of these targets, which are set before the projects begin. Whether the project is managed EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 170
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by EDP or developed by external entities supported by EDP, local communities are consulted and involved in defining these targets. Co-Design with stakeholders In some cases, targets are co-designed with local stakeholders during negotiations, resulting in goals agreed by both sides. When this happens, the targets are documented in the Action Plan, which is made publicly available. For example, if an energy production site is being built, or an asset is operating in a community, EDP engages local stakeholders—especially local authorities—to identify needs and expectations, selecting initiatives that address them. A portfolio of potential projects is presented, and once the most suitable option is chosen, targets are established to measure its success and relevance to local needs. Monitoring approaches Some targets are recorded in the engagement plan, while others are managed through local communication, public reputation initiatives, and assessments, which are shared in internal and external reports. Defined metrics and targets are monitored and measured together with stakeholders throughout the project's lifecycle. For projects led by external organisations in local communities with EDP's support, all targets and monitoring processes are agreed upon from the outset and included in the protocols signed before the project starts. The achievement of these targets is measured by the external organisation and reported to EDP's project managers. For EDP's own projects, progress is tracked and reported by project managers, with input from local stakeholders. Performance Indicators The indicators relating to contributions (inputs) and results (outputs) of EDP's voluntary social investment and tax-incentivized funds (Brazil) can be found in the following tables, as well as in detail in the Social Investment Report. Tax Incentivized Funds UN 2025 Cash contributions m€ 4.5 Beneficiaries (direct + indirect) # 839,779 Beneficiary entities # 224 Inputs Type m€ 18.80 Cash contributions2 m€ 18.09 In-kind contributions3 m€ 0.36 Time contributions4 m€ 0.35 Management costs5 m€ 3.91 Total value of contributions (including management costs) m€ 22.71 Nature6 m€ Education m€ 2.81 Health m€ 0.05 Economic development m€ 1.19 Environment m€ 1.44 Arts and culture m€ 8.31 Social welfare m€ 4.23 Emergency response m€ 0.27 Other m€ 0.52 Outputs7 Beneficiaries Direct beneficiaries # 826,593 Indirect beneficiaries # 5,774,319 Beneficiary entities # 1,675 Corporate Volunteering EDP Volunteers # 2,419 EDP working time used in volunteering h 14,316 (1) In 2025, following guidance from framework, the tax incentivised funding was no longer considered an integral part of the overall social investment. As this was the first year in which this approach was applied, data from previous years were not included.(2)A cash contribution is the gross monetary amount a company pays in support of a community organization/ project (3) These in-kind contributions can include donations of the company’s product or services or other corporate resources such as IT equipment, used furniture, meeting rooms or other space. (4) A time contribution is the cost to the company of the paid working hours contributed by employees to a community organization or activity (5) These will include the salaries, benefits and other overheads of community affairs staff along with research/communications spend if used to help the community engage with the company. (6) Excluding management costs (7) Outputs are a measure of what happens as the result of the contributions that a business makes to a community organization or activity. Outputs can include the people reached, organizations supported, activities delivered and funds raised as a result of the contributions made. Affected communities1 UN 2025 EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 171
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Strategic commitments In November 2025, EDP presented to the market its 2026–2028 Business Plan, outlining the strategic priorities that will guide the company's path in the coming years and reinforcing its commitment to delivering clean, affordable, and secure energy to communities worldwide. Under this plan, one of the ESG commitments for 2028 is that all new projects (subject to approval by the Investment Committee) with a material impact on communities must include an engagement plan. These plans are developed in accordance with the due diligences or assessments done earlier, as to environmental purposes. They do include the biodiversity and ecosystems preservation, thus allowing communities to face any impacts expected with both mandatory and voluntary measures committed by EDP under the engagement / action plan. Aiming to an 100% coverage of Engagement plans per new project implies that all Community impactful new projects will have an early preventive local approach, when local stakeholders are mapped and communication channels are established, so that an effective plan may be drawn, with specific targets and outputs, that will then be implemented locally and monitored at regional and global level regularly. In 2025, 94% of new projects were developed with a defined engagement plan. Monitoring infrastructure The Stakeholder Engagement Unit at EDP monitors with all regions and units' managers, helping identify red flags on risks, preventing crisis, and boosting best practice amongst the Group. EDP conducts regular community perception surveys and biennial stakeholder audits across major operational sites. In 2025, these assessments confirmed a high level of social acceptance, with 100% of identified material concerns being addressed through local Action Plans. This process allows the Group to monitor its Social Licence to Operate and adjusts mitigation measures based on assessment results. EDP project managers also use a dedicated internal digital platform to report on the social investment initiatives they manage. This platform records indicators, tracks progress against set targets, and stores the results achieved, ensuring transparency and monitoring. EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 172
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3.4. Resilient service EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 173 EDP's capacity to deliver reliable, uninterrupted service underpins customer trust and operational performance. In 2025, the Group continued strengthening resilience across distribution networks, business continuity frameworks, and cybersecurity capabilities to address material risks affecting service delivery and customer experience. Energy price volatility presents challenges for customers and requires adaptive strategies from EDP. The Group addresses this through advanced energy procurement, price guarantee contracts, and solutions that reduce customer exposure to market fluctuations. Customer experience and satisfaction represents a strategic opportunity, with EDP implementing comprehensive programmes encompassing AI-powered assistance, expanded digital channels, and systematic feedback incorporation. Service quality improvements were supported by enhanced multi-channel engagement and solutions aligned with customer needs, including renewable energy products, energy efficiency programmes, and flexible payment options for vulnerable customers. Operational resilience proved critical during the Iberian blackout of 28 April 2025, when coordinated crisis response restored power to 7.7 million customers within 12–14 hours. This event reinforced the importance of business continuity capabilities, leading to enhanced crisis response protocols and accelerated implementation of climate adaptation plans across high-risk regions. EDP Networks committed €4.2 billion in infrastructure investment through 2030, prioritising modernisation, resilience, and digitalisation. The completion of 6.6 million smart meter installations in Portugal enables real-time monitoring, faster outage detection, and integration with distributed generation. E-REDES renewed ISO 22301 certification for business continuity management for the tenth consecutive year, demonstrating sustained commitment to operational continuity. Information security remains fundamental to resilience as digitalisation expands exposure to cyber threats. EDP's BitSight cybersecurity rating of 800 positions the Group within the top 1% of global utilities, supported by the evolution of the Global Security Operations Centre, enhanced automation, and AI-enabled threat detection capabilities.
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EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 174 Mobilise multidisciplinary teams and coordinate response to ensure rapid recovery from highly impactful disruptions and crises. Conduct regular exercises, drills and technical tests to assess and increase preparedness and critical capabilities. Actions Ensure crisis management and business continuity readiness Reinforce crisis management and business continuity exercises Target BitSight rating >800 Evolve the Global SOC into a more automated and intelligence-driven capability, integrating IT, OT, IoT and AI- enabled environments to strengthen cyber resilience and incident response Continuously detect, analyse and respond to cyber threats and incidents to maintain secure and resilient operations Strengthen global security operations (SOC) Monitor and respond to cybersecurity threats Policies and guidelines Human and labour rights policy Personal data protection policy Health and safety policy Environmental policy Code of ethics Business continuity policy Information security policy 2025 800 2024 810vs
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ESRS-2.SBM-3 Impacts, risks and opportunities Customers Material IRO Time-horizon Definition Energy price volatility Actual negative impact Risk Upstream Short-term (Risk) Impact: Energy price volatility increases costs for essential goods and services, impacting consumer budgets Risk: Energy market volatility may impact financial performance, investments, supply chain, compliance, and competitiveness Customer experience and satisfaction Actual positive impact Opportunity Own operations and downstream Short-term (Opportunity) Impact: Addressing customer feedback, combined with ethical market practices, enhances products, services, and customer satisfaction, leading to personalized solutions and improved customer experience Opportunity: Prioritizing ethical marketing, customer engagement and satisfaction with comprehensive portfolio positions a company for growth and competitiveness Operational resilience entity-specific Material IRO Time-horizon Definition Infrastructure failure leading to service disruption Potential negative impact Upstream, own operations Risk Upstream, own operations and downstream Medium-term (Impact) Short-term (Risk) Impact: Insufficiently resilient infrastructure can cause service outages, disrupting consumers and the broader economy, including businesses, healthcare, security and daily life Risk: Inadequate business continuity and disaster recovery plans can leave EDP vulnerable to disruptions and financial losses Cyberattacks incidents Risk Upstream, own operations and downstream Short-term Emerging technologies introduces complex and rapidly shifting threat vectors, which could be explored and result in financial, reputational, and operational damage EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 175
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BP-2 Customers Integration in strategy and business model EDP serves consumers and end-users through a range of products and services spanning energy supply, energy efficiency solutions, electric mobility, and decentralized solar energy. In Iberia, the regulatory framework defines the separation of distribution (regulated market) and supply (liberalised and regulated market). In Portugal, EDP operates across these activities through independent companies, whilst in Spain the company is present in distribution (regulated market) and supply (liberalised market). In Brazil, EDP operates through vertically integrated distribution companies serving both regulated and liberalised markets. The material IROs identified interact with EDP's strategy in different ways. To address energy price volatility, EDP's strategy includes advanced energy procurement, price guarantee contracts, and customer solutions that reduce exposure to market fluctuations. Customer experience and satisfaction is addressed through EDP's business model, which centres on providing solutions that respond to customer needs, including sustainable energy products and digitalised services. Policies EDP has established policies to manage material impacts, risks and opportunities related to consumers and end-users: • Personal Data Protection Policy: Outlines the company's commitment to protecting the privacy and confidentiality of personal data collected, processed, and stored within its operations • Human and Labour Rights Policy: Establishes principles for respecting and promoting human rights across operations and value chain, including consumer rights • Health and Safety at work Policy: Defines requirements for ensuring the safety of products and services provided to customers • Environmental Policy: Guides the development of products and services that support customers in reducing their environmental footprint • Code of Ethics: Establishes principles of conduct in customer relations, including transparency, honesty, and respect • Business Continuity Policy: Ensures service continuity and rapid response to disruptions affecting customers Actions Customer relationship management EDP has established a customer relationship management program with multiple elements to support customers and incorporate their feedback. CUSTOMER SUPPORT CHANNELS Customers have access to multiple channels to request support and provide feedback: • AI-based assistance: EDP has implemented the A.R.C. (Assistente para Respostas ao Cliente), an AI-powered virtual assistant supporting back-office operators in analysing customer requests, clarifying procedures, and proposing responses. Additionally, automated telephone answering with AI utilization has been deployed, along with natural voice technology in customer support lines for more efficient call routing • Digital channels: Website (edp.pt), mobile application (EDP Online), Digital Balcony (Balcão Digital) platform, and WhatsApp (in Portugal). Online form submission and direct email contact are available through all digital platforms. The Speak Up Channel, available 24/7 through the company website (for further details, see grievance mechanisms) • Dedicated phone lines: In Portugal, customer service operates through dedicated telephone lines, with a 24/7 breakdown reporting service available for supply interruptions. The distribution company's telephone breakdown channel operates 24 hours a day, 365 days a year. In Spain, EDP provides dedicated telephone lines for each distribution company, covering customer service, professional support, and outage reporting (24/7). • In-person service: Physical service locations (stores) across Portugal and Spain. Video call service has been implemented to provide visual support during calls, enabling remote troubleshooting assistance. EDP Networks has implemented a digital transformation programme to improve service quality and customer experience. In 2024, the programme delivered online outage reporting, tracking of consumer and generator access requests, complaint management tools, network quality and capacity maps, and other customer self-service capabilities. In 2025, these capabilities were expanded with regulatory- EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 176
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compliant access request tracking, consumption capacity mapping, a contracting simulator, Open Data access, online meter reading, identification of electro-dependent supply points, customer self-readings, and automatic security deposit refunds. In 2026, EDP Networks will deploy automation and AI-driven tools across Spain and Portugal to reduce demand on live agents and improve response times. Initiatives include an advanced IVR system integrating natural language processing and automated validations, WhatsApp-based customer service pilots, and a Virtual Agent project to manage outage-related calls without human intervention. These initiatives aim to expand digital accessibility, strengthen response capacity during peak incidents, and increase customer self-service adoption. PROCESS TO INCORPORATE CUSTOMER FEEDBACK EDP incorporates customer feedback into product and service development through: • Satisfaction surveys: Weekly CSAT (Customer Satisfaction) surveys conducted by external entities, processing a sample of all contacts managed. In Spain, NPS (Net Promoter Score) index measures customer loyalty across five touchpoints: call centre experience, breakdowns, complaints experience, new connections and work orders • Voice of Customer program: The Customer Relationship Alignment project implements four key levers: call centre, digital channels, voice of customer, and process mining. The 'Listening Project' identifies improvements to customer experience based on direct feedback • Relational surveys: Regular feedback collection on overall relationship with EDP, measuring how products influence customer satisfaction over time and identifying opportunities for improvement. In Brazil, customer feedback incorporation is structured through the SER Cliente Programme, launched in 2025 by EDP São Paulo and EDP Espírito Santo. The programme uses satisfaction survey results conducted by independent entities, including ABRADEE (Brazilian Electricity Distributors Association) and ANEEL (National Electricity Regulatory Agency), combined with analysis of complaints and interactions through service channels. These inputs direct actions on organisational culture, communication, service journeys, and digitalisation. From January 2026, customer satisfaction management in Spain will use Medallia, the experience management platform already deployed in Portugal. This will enable daily surveys, increased survey volume, and multi-channel distribution (email, with IVR as fallback). The initiative aligns survey methodologies and metrics between Spain and Portugal, and incorporates a structured follow-up process to address customer feedback. CUSTOMER SERVICE FOR CUSTOMERS WITH SPECIAL NEEDS In accordance with Article 100 of the Regulation on Service Quality in the Electricity and Natural Gas sector, EDP adapts its information and communication systems to ensure customers with disabilities receive the same levels of quality service and rights as other customers. Measures include: • Visual impairment: Braille invoices available for customers with limited vision • Hearing/oral communication impairment: Sign language service provided through Serviin (real- time video interpretation service) for customers with hearing impairment or limitations in oral communication • Olfactory impairment: Information provided through various channels regarding gas leak detection equipment installation and maintenance for natural gas customers. COMPLAINT HANDLING PROCESS EDP has established a process to handle complaints about products and services: • Complaint receipt confirmation: All complaints are registered and filed in the complaint management support tool. Each report is automatically assigned a sequential number by the platform, which cannot be modified or deleted, confirming receipt to the customer • Timelines for resolution: Written information requests must be answered within 15 working days (regulatory standard: 90%; EDP achieved 95% in 2025). For telephone service, if not attended within 60 seconds, callback is provided within 2 working days as per regulatory requirements • Resolution process: Requests are analysed through assisted channel interactions. If required, requests are forwarded to the middle office for further analysis. Final steps involve contacting the customer with the response, sending a written response, and closing the request • Independent review: The Customer Ombudsperson, an independent entity, assesses customer complaints when customers are not satisfied with responses from conventional channels. Additional external channels include the Portal da Queixa (Complaints Portal) in Portugal • Independent verification: In 2025 an internal audit was conducted on E-REDES commercial service quality, covering procedures, complaints, requests, as well as telephone and in-person service. EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 177
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Personal data protection The protection of personal data is a component of customer experience and satisfaction. Customers entrust EDP with their personal information, and safeguarding this data is fundamental to maintaining customer trust and ensuring a relationship based on transparency and respect. EDP's Data Protection Policy, approved by the Executive Board of Directors and reviewed whenever there are relevant changes in the applicable legal framework or in the context of the activities carried out by EDP, applies transversally to all business units and operations, including suppliers and contractors, who shall only process personal data following documented instructions from EDP. The policy ensures compliance with EDP's commitment to respect the privacy of its stakeholders (customers, employees, service providers, suppliers, partners) and to adhere to applicable legal requirements, through the observance of the following principles: (i) lawfulness and purpose; (ii) fairness and transparency; (iii) proportionality; (iv) control; (v) privacy since the initial moment; (vi) responsibility; and (vii) security. To implement this commitment, EDP has established a Personal Data Protection Compliance Programme, aligned and integrated in the EDP Group's Compliance Management System. The Programme is described in the Personal Data Protection Compliance Programme Standard, which establishes the governance model, risk management system, standards, policies and procedures, training and communication methodology, incident management mechanisms, monitoring procedures, third-party compliance requirements, reporting model, and continuous improvement approach. The Personal Data Protection Compliance Programme is embedded in EDP's group-wide Compliance Management System, which has been certified to ISO 37301 - Compliance Management Systems. For additional details on EDP's Compliance Management System, including its structure, governance, and audit procedures, refer to the Corporate Governance chapter. GOVERNANCE MODEL The Personal Data Protection Compliance Programme governance model is based on the "three lines of defence" management model: • First line of defence: The different businesses and support functions (such as People & Organisation, Safety and Security, Innovation) have responsibility for ensuring their activities are performed according to legal requirements and internally defined policies and procedures • Second line of defence: The Programme is promoted and coordinated by the Centre of Excellence (CoE) for Privacy & Data Protection within Ethics and Compliance, supported by Legal & Governance and IT Security and Risk as specialised areas responsible for providing advice and proposing or implementing controls. The Ethics and Compliance focal points within business or supporting functions promote dissemination, knowledge, training, and implementation of the Compliance Programme in their respective areas • Third line of defence: The Internal Audit Global Unit conducts specific audit work to verify the adequacy and effectiveness of the implemented control mechanisms. Whenever legally required, the Governance Model includes a Data Protection Officer (DPO), who reports directly to Ethics and Compliance on the development of his activities. PERSONAL DATA BREACHES EDP has defined and implemented a procedure to identify, manage and, as appropriate, report Data Breaches that lead to accidental or unlawful destruction, loss, alteration, unauthorised disclosure of, or access to, personal data. The management of data breaches as well as any complaints and requests for the exercise of data protection rights is monitored by the CoE for Privacy & Data Protection. In 2025, the EDP Group entities have: • not notified any data breach to the supervisory authorities (2024: 2 in Portugal), considering there were no situations deemed likely to result in a risk to data subjects • received a total of 8221 Customer complaints (2024: 687). Grievance mechanisms EDP provides multiple contact channels to address customer concerns and complaints. For a description of the grievance mechanisms available to consumers and end-users, including the Speak Up channel and Customer Ombudsperson, refer to the grievance mechanisms. EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 178 1 This figure includes complaints received through the commercial channels, the Data Protection Officer (DPO), Speak Up channels, and other complaint channels.
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Price fluctuation mitigation To address the material negative impact of energy price volatility on consumers, EDP implements the following processes: • Advanced procurement of energy in wholesale markets, phased throughout the previous year, to protect customers from unexpected fluctuations in market conditions • Contracts without commitment, with switching processes and no cost to the customer, ensuring customers are free to change if they find a more economical offer • Contracts with a price guarantee for periods of 3 to 12 months, ensuring price stability for customers • Communication of price revisions with a 30-day notice period before new prices come into effect Service restoration In case of supply interruptions, EDP Networks has established processes for service restoration. In 2025, these processes were strengthened with digitalisation, automation, and predictive technologies. Measures include: • Customer service channels available 24 hours a day, 365 days a year, with multi-channel access (telephone, mobile application, web portal) for reporting and tracking outages • Interactive online outage map updated dynamically with the number of customers affected, geographic location of incidents, and estimated restoration times • Priority restoration protocols for critical infrastructures, including hospitals, health centres, emergency services, security forces, firefighting units, and civil protection • Integration with emergency services coordination platforms for automatic alerting of incidents affecting strategic infrastructures. Quality of supply EDP Networks implements actions to ensure continuity and quality of supply to customers: • Network automation: EDP continues the expansion of feeder automation systems to detect and isolate faulty sections remotely, allowing unaffected areas to remain powered and reducing field team trips. In 2025, reconnection capacities were extended to low-voltage grids • Digital transformation projects: Implementation of Early Fire Detection System using thermal and optical sensors; Safegrid fault location system for medium-voltage networks; fixed cameras in substations for remote supervision; AI-based asset defect detection on aerial inspection images; and automatic substation condition monitoring with predictive alarms • Asset management: Maintenance based on monitoring the technical condition of assets, supported by IoT-networked sensors and data-driven failure models, enabling action before failures occur and reducing unplanned outages • Network planning: EDP Networks plans distribution network updates with prioritisation criteria covering modernisation, resilience and environment, decarbonisation and electrification, digital transformation, and grid losses • Smart meter deployment: By the end of 2025, E-REDES completed the installation of 6.6 million smart meters, achieving full coverage of low-voltage connection points. In Spain, the deployment of next-generation smart meters commenced, enabling real-time consumption data, faster outage detection, and integration with distributed renewable generation • Low-voltage network management: Development of Gridwise, a platform using AI, IoT, and edge computing to monitor and control low-voltage distribution networks in real time, enabling early detection of anomalies and reducing operational response times • Investment in infrastructure: In 2025, EDP Iberia Networks committed €4.2 billion investment for improvements in electrification, modernization, resilience and digitization through the 2026-2030 Strategic Plan. Commercial quality EDP monitors complaints and customer satisfaction and implements improvement actions: • Customer Relationship Alignment: Multi-site project with four levers (call centre, digital channels, voice of customer, and process mining) implementing an Iberian framework • Automated telephone answering with AI utilisation • Automation in complaints management • Improved information to customers on estimated replacement time after supply interruptions • Enhancements to the switching service portal for retailers. EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 179
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Customer engagement EDP engages with customers through satisfaction surveys, both transactional and relational: • Transactional surveys: Feedback collection after interactions through various channels (contract changes, equipment installation, technical assistance) • Relational surveys: Feedback on overall relationship with EDP and its products and services • CSAT and NPS measurement: Networks implement Customer Satisfaction measurement and Net Promoter Score index Energy transition solutions Responding to customer demand for sustainable solutions, EDP offers products and services that support customers in the energy transition whilst enhancing satisfaction: • Solar solutions: Investment in solar energy solutions that reduce customers' exposure to market price fluctuations and can reduce grid energy consumption by up to 30%, or up to 70% with battery storage. EDP Networks supports customer adoption of self-generation through online capacity maps and streamlined grid connection processes • Solar Neighbourhoods: Collective self-consumption communities where solar energy is produced and shared among members, with neighbours receiving a discount on electricity self-consumed from the neighbourhood at no joining cost • Energy insights and advice: Programme offering customers detailed diagnosis and advice on their energy efficiency, including monthly consumption analyses, comparisons with similar homes, and recommendations for tariff optimisation • EDP Efficient Home: Range of actions allowing customers to reduce their energy bill and increase thermal comfort • Electric mobility: EDP continues to expand its EV charging infrastructure, with 14,895 charging points installed by 2025 • Grid flexibility: In Portugal, E-REDES launched flexibility services auctions within the FIRMe project. In Spain, Dynamic Line Rating will be deployed for 132 kV overhead lines, updating line ratings based on real operating conditions to increase capacity for distributed energy resources. Support for vulnerable customers The Social Tariff is a regulatory mechanism designed to ensure access to energy for economically vulnerable populations. It provides direct discounts on electricity and natural gas bills for eligible households, funded through regulatory mechanisms. The social tariff represents the main instrument adopted to support low-income customers in affording energy, contributing to tariff affordability and helping mitigate the impact of energy price volatility on the most vulnerable segments of the population. EDP applies social tariffs for vulnerable customers: • Portugal: Since 2010, legislation provides for a social tariff for electricity and natural gas, granting a discount to economically vulnerable customers on the access tariff. The discount is equivalent to 33.8% of the gross price of the transitory regulated market tariffs for electricity and 31.2% for natural gas. DGEG reported 731,879 electricity social tariff beneficiaries by the end of 2025 • Brazil: The Social Tariff, implemented in 2002, provides discounts between 10% and 65% according to consumption (up to 220 kWh/month) for low-income families. Indigenous and Quilombola families receive a 100% discount up to 50 kWh/month. In 2025, EDP's distributors served 627,630 consumer units with the Social Electricity Tariff. Additional support includes flexible payment options such as the "Conta Certa" service in Portugal, allowing customers to pay a fixed monthly amount for 11 months with settlement on the 12th month, and instalment payment plans in Brazil for customers with the Social Electricity Tariff. EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 180
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Metrics Clients UN 2025 2024 Service quality Portugal Installed capacity equivalent interruption time min 57 51 Spain Installed capacity equivalent interruption time min 19 19 Brazil Average interruption duration per consumer EDP São Paulo h 5.9 6.0 EDP Espírito Santo h 6.9 7.2 Frequency of interruptions per consumer EDP São Paulo # 2.8 3.1 EDP Espírito Santo # 3.1 3.2 System Average Interruption Duration Index Distribution network h 3.0 2.9 Transmission network h 0.0 0.0 Clients with social tariff # 1,362,785 737,206 Electricity # 1,359,509 721,859 Portugal # 731,879 660,118 South America # 627,630 665,554 Gas # 3,276 3,327 Portugal # 3,276 3,327 Information prepared in accordance with applicable regulatory requirements in each geography. EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 181
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BP-2 Operational resilience EDP operates across complex environments that expose the Group to diverse threats and risks inherent to its business and global footprint. These challenges require strategies and controls to anticipate, prevent, and mitigate potential impacts on critical operations, financial performance, and the Group's reputation. Resilience is fundamental to EDP's long-term performance. Business Continuity and Crisis Management are capabilities that enable the Group not only to respond to and recover from disruptions, but to emerge stronger, enhancing its capacity to withstand future challenges. In an increasingly digital and interconnected operating environment, the security of information and critical systems is essential to EDP's operational resilience. While digitalisation and advanced technologies support efficiency and performance, they also increase exposure to cyber threats and other risks that may affect the availability, integrity and confidentiality of information. Information Security plays a key role in protecting critical assets and information, supporting regulatory compliance and safeguarding operational stability. Balancing the ability to prevent disruptions and crises with the capacity to respond to and recover from highly impactful events requires strong commitment and disciplined practices, supported by clear, measurable outcomes. Business continuity Integration in strategy and business model Organisations operating globally are increasingly exposed to disruptive events with significant potential impacts. This global positioning demands continuous monitoring and heightened awareness of emerging crises. The EDP Group views business continuity and crisis management as strategic capabilities, enabling a structured response to disruptions and high uncertainty situations that may affect strategic objectives. Such events require rapid action supported by the most accurate information at the time, to protect people, the environment, assets, and the Group's reputation. The Group manages a diverse set of critical infrastructures in Portugal and Spain — identified under Directive (EU) 2022/2557 — including electricity generation and distribution assets and related customer services. To address physical and technological risks, EDP has adopted proactive strategies supported by physical and cyber security measures, business continuity management frameworks and tailored security plans developed in alignment with national legislation. EDP continued to strengthen sector-wide resilience by sharing best practices, collaborating with external authorities, and participating in key exercises and workshops. In alignment with the Sendai Framework for Disaster Risk Reduction, EDP maintained active participation in Portugal's National Platform for Disaster Risk Reduction (PNRRC – Plataforma Nacional para a Redução do Risco de Catástrofes), contributing to sectoral guidance on infrastructure interdependencies and training initiatives aimed at enhancing the resilience of essential service operators for the 2024–2026 cycle. In addition to ongoing analysis and monitoring, EDP engaged geopolitical-risk experts to deepen its understanding of potential conflict developments and strengthen its capacity to anticipate emerging threats. Considering the range of plausible geopolitical-evolution scenarios, the Group adopted a structured approach to assess the most material risks and impacts for EDP, as well as to define the key risk-management actions and mitigation measures required. Policies Business Continuity Management (BCM) is essential to ensuring the Group's capability to respond effectively to and timely recover from disruptive events. Crisis Management (CM) policy and practices enable EDP to address highly uncertain impactful situations. Safeguarding the continuity of critical services and processes is a priority for EDP. This commitment is reflected in the EDP Business continuity policy and supported by a transversal BCM methodology aligned with international standards, including the ISO 2230x family, particularly ISO 22301. In 2025, E- REDES renewed its ISO 22301 certification for the tenth consecutive year, while EDP Redes España renewed and consolidated its certification initially obtained in 2023. EDP’s Crisis Management Policy reaffirms the Group’s commitment to activating the appropriate response structures and protocols ensuring the allocation of the resources necessary to address both strategic and operational crises. Aligned with ISO 22361, the policy sets out the guiding principles, d e c i s i o n - m a k i n g p r a c t i c e s , a n d m a n a g e m e n t s t r u c t u r e s t o b e a p p l i e d b e f o r e , d u r i n g , a n d a f t e r a c r i s i s and is complemented by protocols and a playbook, which translate the policy into documented p r o c e d u r e s , c h e c k l i s t s , a n d q u i c k - r e f e r e n c e m a t e r i a l s . The integrated approach implemented by the Safety, Security & Business Continuity (SS&BC) unit — combining Security, BCM and CM — continues to strengthen the Group's capacity to protect people, assets and operations. EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 182
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Actions IBERIAN BLACKOUT The Iberian blackout of 28 April 2025 demonstrated the Group's crisis response capabilities. The incident triggered the immediate activation of EDP's global crisis system, mobilising multidisciplinary teams and ensuring operational readiness across Portugal and Spain. Through coordinated field operations, EDP restored power supply to 6.4 million customers in Portugal and 1.3 million in Spain within 12 to 14 hours, supported by continuous engagement with national authorities. Following the event, an action plan was launched to reinforce crisis response capabilities, operational preparedness and system resilience across the Group. CLIMATE ADAPTATION EDP is implementing climate adaptation plans across its main business units to ensure the resilience of infrastructure against extreme weather events, covering damage prevention, operational resilience, emergency response, and innovation. The climate adaptation plans span distribution networks, hydro generation, and wind assets in high-risk regions. The first implementation phase, covering main high-risk regions and technologies, was completed in 2025. For additional information see EDP Climate Adaptation and Resilience Report. Implementation includes climate risk-informed design for new assets, enhanced forecasting and early warning systems, and strengthened operational protocols. These measures are being scaled across operations in Portugal, Spain, Brazil, and North America, supported by climate risk assessment tools developed in partnership with academic institutions. OPERATIONAL RESPONSE AND EXERCISES EDP has developed and continually strengthens a set of human, procedural, and technological controls, supported by safeguard measures that have matured over time. These are complemented by operational recovery frameworks—including business continuity plans for priority processes and services, contingency plans, and disaster recovery plans—designed to ensure operational resilience. Together, these capabilities enable EDP to maintain service delivery at acceptable levels when confronted with incidents, emergencies, or disasters. To ensure their ongoing adequacy and effectiveness, these plans are regularly tested through exercises and simulations, conducted both internally and in coordination with external stakeholders across EDP's value chain. EDP has further strengthened the execution of targeted drills and technical tests to validate the resilience of critical operational assets and processes. These activities ensure that alternative capabilities—such as backup power and redundant communications—are properly configured and performing as intended. Conducted at a higher frequency, these focused drills and tests complement broader process- and service-oriented exercises, reinforcing operational readiness. The systematic execution of these exercises, drills, and tests strengthens the competencies, coordination, and decision-making capabilities of EDP's teams. By exposing operational and crisis- management personnel to realistic scenarios, these activities enhance situational awareness, reinforce procedural discipline, and build confidence in executing response and recovery actions under pressure. Furthermore, by leveraging IT solutions, EDP aims to enhance its ability to assess risks and impacts, implement appropriate mitigation measures, plan for response and recovery, and strengthen business continuity capabilities over time. These digital tools also support crisis management—providing teams with timely, accurate information, facilitating operational coordination, and enabling rapid communication. Targets and metrics Given the cross-cutting nature of business continuity and resilience, its targets and metrics are considered within the broader goals outlined in the Business Plan 2023-26. By 2028, EDP will ensure that all infrastructure exposed to material climate risks is covered by adaptation plans. Information security Integration in strategy and business model As an energy utility, EDP is increasingly dependent on digital infrastructure to support operations and service delivery. While this technological evolution enhances business performance, it also expands the Group's exposure to a broader and more complex cyber threat landscape. In response, EDP is advancing its digital transformation with cyber resilience embedded as a core pillar of business continuity, operational reliability and stakeholder trust. The growing scale and sophistication of cyber- EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 183
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attacks continue to represent a material and evolving risk for organisations worldwide, including EDP, with potential financial, reputational and operational impacts. Policies The EDP Group's Information security policy, updated and approved by the Executive Board of Directors in 2023, addresses the increasing exposure to cyberattack incidents arising from emerging technologies that introduce complex and rapidly evolving threat vectors. As an operator of critical infrastructures and a manager of large volumes of personal and operational data, EDP recognises that such threats may be exploited, potentially resulting in financial, reputational and operational impacts. The policy defines the strategic objectives and commitments that govern the protection and responsible use of information as a critical corporate asset, ensuring alignment with applicable legal and regulatory requirements. To mitigate the risks associated with cyberattacks, EDP maintains organisational structures and resources for security management, safeguards information integrity and authenticity, and promotes coordinated prevention and incident management capabilities. To ensure consistent execution and resilience against evolving cyber threats, EDP formally established its cybersecurity function in 2010. Since then, cybersecurity capabilities have been systematically strengthened through structured three-year roadmaps, aligned with core security principles and supported by sustained and progressive investment, reinforcing the Group's ability to anticipate, withstand and respond to cyberattack incidents. Actions EDP continues to prioritise information security, implementing initiatives aimed at mitigating cyber risks, strengthening operational resilience and enhancing the maturity of its cybersecurity capabilities. GLOBAL SECURITY OPERATIONS CENTER (SOC) In 2025, the EDP Group enhanced the maturity and effectiveness of its Global Security Operations Center (SOC), strengthening its capacity to address cyberattack incidents driven by increasingly complex and rapidly evolving threat vectors. The Global SOC evolved into a more automated and intelligence-led operation, leveraging SecOps capabilities across all geographies and progressively incorporating advanced analytics and AI-supported tools within its security operations, consolidating its role as a central function aligned with the strategic objectives of the Digital Global Unit (DGU). This evolution reinforced end-to-end monitoring across both Information Technology (IT) and Operational Technology (OT) environments, improving visibility and operational resilience. Throughout the year, emphasis was placed on the automation of security operations and incident detection, supported by the increasing use of data-driven and AI-enabled capabilities, enabling faster response times, improved threat analysis and greater consistency across the Group. The information security incident management process continues to support user reporting and feeds into an automated risk assessment framework, with response and treatment actions defined in accordance with delegated authorities and potential financial, operational and reputational impacts. Active collaboration with external cybersecurity networks was maintained, reinforcing collective defence and stakeholder confidence. BUSINESS CONTINUITY AND DISASTER RECOVERY Disaster recovery capabilities are validated through annual testing programmes designed to confirm the effectiveness of the disaster recovery plan. These exercises, covering applications managed by DGU, assess the organisation's ability to restore data and critical systems and to maintain operational continuity following disruptive events, including natural incidents or IT failures. The tests also support the identification of improvement areas, the validation of contingency measures and the preparedness of response teams. In parallel, DGU maintains a business continuity plan that is reviewed and tested annually; in 2025, disaster recovery tests achieved a success rate of 97%. RESILIENCE As emerging technologies introduce increasingly complex cyber threat vectors, the EDP Group's cyber resilience strategy is designed to mitigate cyberattack incidents that could result in financial, reputational and operational impacts. The strategy integrates preventive, detective and responsive measures and is continuously updated to protect critical assets, sensitive information and industrial systems through security controls, including strong authentication, network segmentation and consistent security policies. To ensure operational continuity in the event of cyber incidents or system failures, EDP continues to invest in redundancy and recovery capabilities, such as periodic backups, data replication and business continuity planning. HUMAN BEHAVIOUR As emerging technologies introduce increasingly complex cyber threat vectors, the EDP Group recognises human behaviour as a key factor in preventing and mitigating cyberattack incidents with potential financial, reputational and operational impacts. The Group's cybersecurity awareness programme promotes a consistent culture of information security through targeted communication, leadership commitment, skills development and a people-centred approach that positions employees as the first line of defence. This approach is reinforced by initiatives that assess human-related cyber EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 184
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risks, supported by continuous training, simulations and testing to sustain vigilance and reduce the likelihood and impact of cyber incidents. Targets and metrics In 2025, the scope of analysis and monitoring continued to expand, alongside further automation of information security incident reporting. The integration of new sources enhanced cybersecurity visibility and, supported by automation, resulted in a higher number of reported information security incidents, totalling 14,710. The cybersecurity rating adopted (defined as one of the organisation's KPIs in a digital context) monitors the EDP Group's behaviour in cyberspace. For 2025, EDP maintained its target of achieving a rating equal to or greater than 800, based on monthly measurements conducted throughout the year. During the year, a change in the algorithm used to calculate the cybersecurity rating becomes more demanding, ending the year at 800. According to information provided by BitSight, this performance positions EDP within the top 1% of utilities in the energy/resources sector, among a universe of more than 1,000 companies. Metric 2025 2024 Information security incidents reported1 14,710 6,077 B i t S i g h t s e c u r i t y r a t i n g ( t a r g e t ≥ 8 0 0 ) 800 810 Disaster recovery test success rate 97% 97% ISO 22301 certification (E-REDES) Renewed (10th year) Maintained ISO 22301 certification (EDP Redes España) Renewed Obtained (2023) 1 Total number of information security incidents detected and reported internally, reflecting the maturity and comprehensiveness of monitoring systems EDP Integrated Annual Report 2025 Sustainability Statement | Social Index 185
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EDP Integrated Annual Report 2025 Sustainability Statement | Governance Index 186 Index Governance04. SUSTAINABILITY STATEMENT 4.1. Business conduct 187 Arbuckle Mountain wind farm | Oklahoma, USA
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4. Governance 4.1. Business conduct EDP Integrated Annual Report 2025 Sustainability Statement | Governance Index 187 Business conduct frameworks establish how EDP operates across all activities and geographies. Two material considerations shape this approach: managing the risk of misconduct and illicit practices whilst capitalising on the opportunity that policy influence creates for improved market access and favourable regulatory outcomes. Additional detail on governance structures and remuneration frameworks is provided in the Corporate Governance & Remuneration section. EDP's approach centres on systematic governance oversight, comprehensive ethical standards, and robust compliance mechanisms. The Executive Board of Directors defines policies and procedures, whilst the General and Supervisory Board monitors compliance through specialised committees. The independent Ethics Commission assesses matters submitted through Speak Up channels and oversees Code of Ethics implementation. The Code of Ethics and Integrity Policy establish mandatory behavioural standards applying universally to all employees, governing body members, agents, and suppliers. The Integrity Policy establishes zero tolerance for corruption and prohibits facilitation payments, operationalised through EDP's ISO 37301-certified Compliance Management System and ISO 37001-certified anti-bribery programme. Decision-makers must provide annual compliance declarations. The Speak Up Channel provides accessible, confidential reporting in multiple languages, ensuring independent investigation and protection from retaliation. Training programmes strengthen understanding across the organisation through practical guidance and awareness campaigns. In 2025, EDP maintained its recognition as one of the World's Most Ethical Companies by Ethisphere Institute, with no convictions or fines for corruption violations. Policy influence operates within this ethical framework. Through structured engagement with governments, sector associations, and stakeholders, EDP advocates for climate policies aligned with Paris Agreement goals—covering the EU 2040 Climate and Energy Framework, renewable deployment acceleration, grid modernisation, and carbon pricing.
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EDP Integrated Annual Report 2025 Sustainability Statement | Governance Index 188 Code of ethics Integrity policy Code of conduct for senior management and senior financial officers Supplier code of conduct Highlights Whistleblowing management Policy Transactions with related parties policy Interest representation policy Commitment Highest standards of integrity Ethisphere Institute recognizes EDP as one of the World’s Most Ethical Companies® 2025, reinforcing its ongoing commitment to high standards of ethics and integrity EDP promotes an ethical culture through transversal initiatives such as Ethics in Action, Compliance on Tour, Speak Up c a m p a i g n s , A n t i - C o r r u p t i o n D a y actions, and local awareness programs across regions. Centralize interest representation governance through the "Impact Map" platform to monitor external activities, expenditures, and positioning for regular reporting to the Board of Directors. Policy influence Ethics and compliance training & awareness Ethisphere Institute recognition Recognition Policies and guidelines
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ESRS-2.SBM-3 Impacts, risks and opportunities Material IRO Time-horizon Definition Misconduct and illicit practices Risk Upstream, own operations and downstream the value chain Short-term Engaging in bribery, corruption, or money laundering results in legal repercussions, fines, business expansion impediments, financial setbacks, and disruptions Representation of interests and market access Opportunity Upstream, own operations and downstream the value chain Medium-term Representation of interests and market access can create growth opportunities EDP Integrated Annual Report 2025 Sustainability Statement | Governance Index 189
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G1.GOV-1 The role of the administrative, supervisory and management bodies The Executive Board of Directors (EBD) is responsible for defining the policies, procedures, and mechanisms that ensure proper business conduct across EDP. These policies establish the foundation for ethical practices and compliance throughout the organization. The General and Supervisory Board (GSB), within its oversight role, monitors compliance with these policies through its specialized committees: • Corporate Governance and Sustainability Committee - tasked with supervising matters related to internal codes of ethics and conduct • Financial Matters Committee - responsible for monitoring the activities and mechanisms of the Compliance Management System. The GSB also appoints the Ethics Commission, based on a proposal from the EBD, and addresses issues related to the Code of Ethics. The Ethics Commission operates independently to monitor and enforce EDP’s Code of Ethics. Its responsibilities include: • Assessing and deliberating on matters submitted through Speak Up channels • Promoting and supporting mechanisms that strengthen EDP’s principles of business ethics • Analysing breaches of the Code of Ethics and internal regulations • Reviewing the implementation of the annual ethics plan prepared by the Ethics & Compliance Officer • Ensuring the adequacy of the Code of Ethics and overseeing its biennial revisions. The Ethics Commission is composed of three independent members of the GSB. Meetings are attended by the Ethics & Compliance Officer and the Heads of People & Organization and Legal & Governance as permanent guests without voting rights, ensuring alignment and coordination across key governance areas. Members of EDP’s administrative, management, and supervisory bodies demonstrate a strong commitment to business conduct matters, leveraging their expertise and active participation in relevant forums and initiatives. Their involvement in business ethics discussion forums ensures they remain informed about best practices and emerging trends. This commitment is reinforced through a clear tone at the top. The Executive Board of Directors consists of five members with diverse experiences and backgrounds, most of whom have long careers at EDP. This provides them with direct experience and in-depth knowledge of EDP’s business conduct principles. Meanwhile, the General and Supervisory Board is composed of a larger number of members, the majority of whom are independent and bring solid careers in other companies and fields. This diversity strengthens oversight and reinforces ethical governance. Additionally, the members of the specialized committees are drawn from the GSB, ensuring expertise and continuity in governance. G1.MDR-P | G1-1 | G1.MDR-A | G1-3 | G1-4 Business conduct policies and corporate culture Ethics, integrity and corporate culture The EDP Group is committed to acting in accordance with the highest ethical and integrity standards. This commitment is reflected in a comprehensive governance framework designed to manage business conduct and foster a strong ethical corporate culture. In 2025, this commitment was once more externally recognized, as EDP was named one of the World’s Most Ethical Companies® by the Ethisphere Institute. At the core of this framework is the EDP Code of Ethics, reviewed in 2025 and available on EDP’s website. The Code is approved by the Executive Board of Directors and the General and Supervisory Board, which is responsible for overseeing and assessing its implementation. The Code defines the ethical commitments that guide EDP’s activities and promotes responsible behaviour across all levels of the organization. It addresses critical topics such as respect for human rights, diversity and inclusion, stakeholder relations, environmental responsibility, and the prevention of corruption and bribery. The Code of Ethics applies to all employees, members of governing bodies across all Group companies, as well as agents and suppliers acting on behalf of EDP. Other suppliers are explicitly required to comply with the Code through qualification procedures or contractual obligations. To uphold its high standards, EDP has implemented a Compliance Management System, certified under the ISO 37301 (Compliance Management Systems), coordinated by the Ethics & Compliance, operated at the corporate level, covering all activities, platforms, and regions, and defines the organizational and operational model for Ethics & Compliance. It also identifies key regulatory areas for which Specific Compliance Programs (SCP) are developed. EDP Integrated Annual Report 2025 Sustainability Statement | Governance Index 190
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The Compliance Management System (CMS) and its associated Specific Compliance Programs are continuously monitored by the Ethics & Compliance and subjected to periodic internal audits, conducted in line with the annual Internal Audit plan or outsourced to third parties. External audits are also performed, identifying opportunities for improvement that are incorporated into the ongoing enhancement of compliance management. Complementing the Code of Ethics, the Integrity Policy, approved by the Executive Board of Directors and revised in 2025, establishes mandatory compliance for all EDP Group companies, employees, and service providers acting on its behalf. This policy ensures adherence to legal frameworks in all geographies where EDP operates and aims to prevent unlawful conduct, particularly corruption, money laundering, and terrorism financing. EDP Group promotes impartial, honest, and transparent practices and requires employees and third parties to act in accordance with these principles. To support this commitment, EDP has implemented prevention, detection, and control measures against corruption, conflicts of interest, influence peddling, money laundering, terrorism financing, and other illegal acts. Group companies may adopt additional measures based on local needs, always ensuring compliance with applicable legislation. The Ethics & Compliance function, which operates independently and reports to the Executive Board of Directors and the General and Supervisory Board/Financial Matters Committee, is responsible for reviewing the Integrity Policy biennially or whenever relevant legislative changes occur, submitting amendments for approval by the Executive Board of Directors. The Integrity Policy is publicly available on EDP’s website. The Integrity Policy also establishes additional controls for decision-makers—individuals with authority and responsibility for planning, directing, and controlling activities within EDP Group— and all employees who fit the definition of politically exposed persons (PEP) and Equivalents who are considered exposed to higher risk. To mitigate this risk, decision-makers and employees who fit the definition of PEP and equivalents must annually sign a declaration confirming compliance with the Integrity Policy and affirming that their duties were carried out with integrity, transparency, and in accordance with applicable laws. In addition, EDP enforces specific policies to prevent and combat harassment at work. Examples include the Code of Conduct for the Prevention and Fight Against Harassment at Work for EDP S.A., comprehensively revised in July 2023, and the Protocolo para la Prevención y Actuación en Casos de Acoso en el Entorno Laboral, introduced in January 2023. All compliance policies and procedures mitigating corruption and bribery risks apply universally to all employees, regardless of role, seniority, or location. Training and communication play a central role in EDP’s commitment to fostering a corporate culture that upholds the highest standards of ethics and integrity. Ethics & Compliance invests in training and EDP Integrated Annual Report 2025 Sustainability Statement | Governance Index 191 Compliance Management System: eight key elements for prevention, detection, and response.
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communication to ensure employees understand and adhere to company policies. The biennial global ethics and compliance training plan is designed to mitigate non-compliance risks, based on identified business needs and monitoring indicators. These elements guide the development of training and awareness actions, complemented by tailored local initiatives, Throughout the year, all mapped actions are monitored. In 2025, transversal training and awareness- raising actions were developed, complemented by specific initiatives at local level according to the needs identified, highlighting the following: • Ethics in Action - A Practical Guide to the Code of Ethics - A transversal training presenting the Code of Ethics as a practical guide, supported by real examples of rule violations and best practices for addressing such situations • Compliance on Tour sessions - A transversal awareness sessions designed to explain EDP’s Ethics & Compliance in a clear and accessible way, covering organizational structure, key activities, and main risks and challenges, ensuring that everyone understood the strategic role of Ethics & Compliance in the daily work. The sessions are in person, with the option to join remotely for those unable to attend onsite • Speak Up awareness actions – Transversal initiatives promoting the importance of speaking-up, including communications aligned with the Global Ethics Day under the message "It's OK to Speak up" • Local awareness initiative in Brazil - Actions to present the Speak Up channel and the Whistleblowing Management Procedure • Anti-Corruption Day communication – Reinforcement of EDP’s policy on gifts and events • Awareness on Politically Exposed Persons (PEP) relationships - Actions to strengthen understanding of procedure regarding relationship with PEP and equivalents • Code of Ethics and Integrity Policy communication - Communication to reinforce the mandatory acknowledgement Code of Ethics and Integrity Police. Through these measures, EDP strengthens its corporate culture, ensuring ethical principles are embedded in daily operations and that employees are empowered to act with integrity. Grievance mechanisms As part of its commitment to fostering a culture of transparency and ethical conduct, EDP provides a robust Whistleblowing Management System that enables employees and stakeholders to report concerns safely and confidentially. Reports can be submitted through the Speak Up channel, available on EDP’s website, and through the Ethics Channel for EDP Brasil, accessible via the EDP Brasil website. These platforms allow reporting of unethical or unlawful behaviour—including harassment, discrimination, corruption, and violations of company policies—in a secure, anonymous manner. Both channels are available in multiple languages. The protection of individuals who use these channels is formally established in Whistleblowing management policy and procedure and in the Code of Ethics. The Whistleblowing Management Policy, approved by the Executive Board of Directors, applies to all companies and entities within the EDP Group, and its implementation is the responsibility of Ethics & Compliance, in coordination with the Ethics Commissions. The Whistleblowing Management System ensures confidentiality of reported concerns and, whenever possible, protects the identity of the whistleblower, safeguarding them from retaliation. This reinforces EDP’s dedication to maintaining a work environment based on integrity and respect. EDP is committed to investigating business conduct incidents promptly, independently, and objectively, including cases related to corruption and bribery. This commitment is embedded in company policies and procedures, which emphasize trust and transparency in all stakeholder relationships. All complaints received through the Speak Up channels and their respective investigations are registered and filed, ensuring confidentiality and compliance with personal data protection requirements. The investigation process fully adheres to applicable legal frameworks and internal policies. Key safeguards embedded in the whistleblowing procedure include: • Confidentiality – The identity of the whistleblower is protected unless disclosure is legally required • Prohibition of retaliation – Whistleblowers are protected against any form of discrimination or adverse treatment resulting from their reporting • Monitoring – Regular review of the whistleblower’s situation to prevent retaliation • Data protection – Complaints and investigations are systematically registered and filed, guaranteeing data protection and compliance with privacy requirements. EDP Integrated Annual Report 2025 Sustainability Statement | Governance Index 192
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Through these mechanisms, EDP ensures that concerns are addressed transparently and responsibly, reinforcing its commitment to ethical business conduct. The EDP Group is committed to acting in accordance with the highest ethical and integrity standards, operating in strict compliance with applicable legislation and regulations. Prevention and detection of corruption and bribery EDP implemented a Compliance Specific Program (CSP), certified under the ISO 37001 (Anti-Bribery Management Systems), to prevent, detect and manage integrity risk, namely corruption and bribery, anchored in its Integrity Policy, which defines the commitments, principles of action, and duties of EDP Group entities, employees, contractors, and business partners regarding the prevention of illicit acts. This Policy complements existing compliance mechanisms at both corporate and local levels, including the Supplier Code of Conduct, the Code of Conduct for Senior Management and Senior Financial Officers, the Related Party Transactions Policy, the Social Investment Policy, the Brand and/or Commercial Sponsorship Policy, the EDP Group Code of Ethics, and whistleblowing channels. It also aligns with specific compliance programs implemented by EDP España and EDP Renováveis (Spain, Chile, and Italy). The Integrity Policy is mandatory reading for all employees, with acknowledgment recorded upon onboarding of new employees and whenever the Policy is updated, and as mentioned, the policy is publicly available on EDP’s website. It reinforces EDP’s zero-tolerance stance on corruption and bribery, prohibits facilitation payments, and sets principles for managing conflicts of interest, donations and sponsorships, political contributions, anti-money laundering, and combating terrorism financing. It also provides guidelines for integrity due diligence of third parties, relationships with politically exposed persons (PEP), acceptance of gifts and event invitations, and monitoring of international sanctions. All the Compliance policies and procedures that mitigate the risks of corruption and bribery are, transversally, applicable to all the employees regardless of their role, rank in the organization or geographic location. However, EDP Integrity Policy establishes an additional control to those persons who, by virtue of the exercise of their respective functions, have direct or indirect authority and responsibility for the planning, direction, and control of activities in EDP Group shall be considered decision makers. It is considered that decision-makers, both due to their position within the organization and their decision-making capacity, may be exposed to a higher risk, and in this way to mitigate such risk, they must annually sign a declaration created for the purpose, confirm, if true, that, throughout the previous year, were aware of and have complied with, within the scope of the activity carried out at the service of EDP, the provisions contained in this Policy, having carried out their duties with integrity, in a transparent manner and in accordance with the legal provisions in force. Corruption and bribery UN 2025 2024 Functions-at-risk covered by training programmes % 39.5 47.1 The Integrity Policy emphasizes non-retaliation in whistleblowing, lists available reporting channels, and outlines the investigation process for potential non-compliance, including corrective actions. Its principles are operationalized through specific internal procedures, such as: • Third-party integrity due diligence – assessing suppliers, intermediaries, business partners, sponsorship beneficiaries, and other third parties for integrity risks, including legal proceedings, adverse news, PEP involvement, sanctions lists, and conflicts of interest • Relations with PEP – establishing rules for recording and communicating interactions • Offers and event invitations – defining thresholds, approval mechanisms, and review processes • Donations and sponsorships – separate procedures that establish the rules for submission, assessment, and decision-making for proposals within the scope of social investment and sponsorships, requiring integrity due diligence and monitoring of fund application • Conflict-of-interest management – ensuring impartiality and transparency in decision-making • Compliance due diligence for new countries/investments – analysing compliance risks before market entry or investment decisions • Intermediary Agreements – ensuring compliance with legal requirements and best practices • Whistleblowing management – detailing investigation phases: preliminary analysis, documentary review, interviews, investigation, and final report issuance. The whistleblowing management system ensures independence and impartiality in all investigations, namely those related to cases of corruption and bribery. The Ethics Commission, composed of three independent members of the General and Supervisory Board, is responsible for managing all complaints and reports. This structure guarantees separation from the executive management bodies involved in prevention and detection activities. To support its mission, the Ethics & Compliance Officer (ECO), assisted by an internal investigation team and, when necessary, specialized external experts, regularly EDP Integrated Annual Report 2025 Sustainability Statement | Governance Index 193
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analyses global information on contacts received through whistleblowing channels and prepares case reports on breaches of the Code of Ethics, or other internal policies, for evaluation and deliberation by the Ethics Commission. The ECO manages the Whistleblowing Management System and ensures compliance with applicable legislation and internal policies. A consolidated report on Code of Ethics infringements is prepared quarterly for the Executive Board of Directors (EBD) and annually for the Corporate Governance and Sustainability Committee (CGSC). This report includes: • Total number of complaints received • Classification of cases • Measures adopted • Current status of investigations. Furthermore, Ethics & Compliance periodically reports on its activities related to complaints, ensuring transparency and accountability in communication with administrative, management, and supervisory bodies. As outlined in the Whistleblowing Management Procedure, EDP may also adopt the following measures to address breaches of anti-corruption and anti-bribery standards: • Changes to processes, control methods, or policies • Corrections or adjustments to documentation • Increased awareness or targeted training on specific topics • Termination of contractual relationships • Initiation of disciplinary proceedings, including potential removal from governing bodies • Notification of competent authorities, including EU institutions or agencies, as required by applicable regulations • Initiation of legal proceedings, filing of criminal complaints, or similar actions. These measures ensure that violations are addressed promptly and effectively, reinforcing EDP’s commitment to integrity, transparency, and compliance with legal and ethical standards. EDP ensures effective communication of anti-corruption and anti-bribery policies and procedures through mandatory training, onboarding integration, awareness campaigns, and policy and procedure availability on the intranet. All employees, including members of administrative, supervisory, and management bodies, receive mandatory training on anti-corruption and anti-bribery practices as part of EDP’s comprehensive ethics and compliance program. These programs cover key topics such as identifying and preventing corruption and bribery risks.Some 2025 initiatives include: • The training “Ethics in Action: A Practical Guide to the Code of Ethics” was launched. This training presents the Ethics Code as an “action guide” and invites employees reflect on ethical dilemmas that may involve illicit acts or improper/unethical conduct and understand how to act in compliance with internal regulations. The Code of Ethics outlines the guiding principles for addressing key topics, including anti-corruption and anti-bribery, across the EDP Group • The transversal awareness sessions, called Compliance on Tour, that covered among other subjects the prevention and detection of corruption and bribery key risks through practical examples. In 2025, EDP reported no convictions or fines for violations of anti-corruption or anti-bribery laws, reflecting the effectiveness of its compliance framework. G1.MDR-P | G1-5 Policy influence Governance and policy framework EDP manages policy influence through the Stakeholder Management team, which coordinates interest representation governance and measurement. The Board of Directors receives information and outputs from the Policy, Regulation & Stakeholders team, which monitors interest representation activities. Integrity oversight is ensured by the Ethics and Compliance team. The Interest Representation Policy, published in 2023, establishes governance applicable to policy areas within the business. Each Region has a stakeholder manager responsible for ethical and integrity commitments while managing external representation. The policy defines limits for Interest Representation across three categories: Business and Trade Associations; Lobbying; and Others (including Foundations, Work Groups, Institutes). EDP Integrated Annual Report 2025 Sustainability Statement | Governance Index 194
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Political contributions and interest representation EDP prohibits any contribution or association of the EDP brand to political parties, candidates, political campaigns or candidacies, or to related people or entities. The company makes no direct political contributions. EDP manages interest representation through a centralized platform that tracks all external representations by nature, year and region. It identifies the entities action and EDP's action within; who's representing the Group at what level and how much is invested. This platform, the "Impact Map" is updated by focal points formally nominated by every area director.The monetary value of in-kind contributions is calculated through permanent and annual data collection from business units, where stakeholder managers update information on external representations following the Interest Representation policy.In 2025, EDP identified 248 Interest Representation entities with total investment of €7.743473,06, distributed across: Business & Trade Associations (71%); Lobbying Associations (12%); and Others, including institutes, Foundations and Academy (17%). Costs related to lobbying UN 2025 2024 Amount of internal and external lobbying expenses m€ 0 0 Amount paid for membership to lobbying associations m€ 0.967 1.092 Main lobbying topics and material opportunity EDP works proactively with governments, sector associations and stakeholders to advocate for climate action that contributes to the Paris Agreement goals across all operating geographies. This engagement represents a material opportunity: actively representing EDP's interests to policymakers and government officials can lead to improved market access and favourable regulatory outcomes. Renewable Energy (including storage and resilient networks) and Climate Change have been critical within EDP's materiality analysis. Management strategically aligns positioning towards these material issues, ensuring they become integral elements of the group's strategy. Throughout 2025, EDP advanced policy positions across two interconnected areas. On energy transition, the company advocated for the EU 2040 Climate and Energy Framework and the implementation of Electricity Market Design reforms. EDP supported grid expansion through the EU Grids Package, addressing planning, financing and permitting acceleration for renewable and grid infrastructure. The company promoted flexibility solutions including storage and demand-side response, alongside electrification pathways for industry, buildings and transport. Advocacy extended to the Clean Industrial Deal, state aid frameworks for clean energy technologies, energy affordability for vulnerable consumers, and security of supply. EDP engaged on net-zero supply chains, carbon markets (ETS and CBAM), consumer engagement initiatives, wholesale market integration, and ambitious 2040 greenhouse gas reduction targets. On climate action, EDP supported setting the EU Climate Target for 2040 at a minimum 90% emissions reduction embedded within competitive industrial strategy, through the CLG Europe initiative. The company contributed to Eurelectric positions ahead of COP30, advocating for the 2040 target as a foundation for the next Nationally Determined Contribution, with globally aligned ambition, technology- neutral policies, expanded carbon pricing and a just transition framework. EDP participated in the Global Renewables Alliance campaign to operationalize COP28 renewable targets, calling for modern energy security frameworks built on accelerated deployment, grid modernization, diversified supply chains, workforce investment and resilience to cyber and climate risks. Through the WEF Alliance of CEO Climate Leaders, EDP urged stable long-term policies, reduced investment risk, breakthrough technology scaling, fossil fuel phase-out, and climate-resilient economies. The company advocated for national renewable energy targets aligned with 1.5°C pathways to be reflected in updated Nationally Determined Contributions. Transparency and public administration The EDP Group is registered at the EU Transparency Register (number 676889648373-61), activated under Companies & Groups. EDP publishes all lobbying activities at State and Congress sites in the USA. The California Secretary of State CalAccess Lobbying report provides a quarterly report filed for public record. No current members of the General and Supervisory Board or the Executive Board of Directors held comparable positions in public administration (including regulatory bodies) within the two years preceding appointment in the current reporting period. EDP Integrated Annual Report 2025 Sustainability Statement | Governance Index 195
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Corporate Governance & Remunerations EDP Integrated Annual Report 2025 Corporate Governance & Remuneration Index 196 Sunshine Valley solar park | Nevada, USA
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EDP Integrated Annual Report 2025 Corporate Governance & Remuneration | Index Index 197 273Remuneration Report02. 198Corporate Governance Report 01.
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EDP Integrated Annual Report 2025 Corporate Governance & Remuneration | Index Index 198 Networks | Brazil Index PART 1. Information on ownership structure, organisation and Corporate Governance 199 PART 2. Assessment of Corporate Governance 246 Corporate Governance Report 01. CORPORATE GOVERNANCE & REMUNERATION
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PART 1 - Information on ownership structure, organisation and Corporate Governance A.Capital Structure I. Capital Structure 1. Capital Structure The share capital of EDP, S.A. ("Company" or "EDP") is of €4,184,021,624 and is fully paid up, according to Article 4 of EDP's Articles of Association, being represented by 4,184,021,624 ordinary shares, which have a face value of 1 Euro each. The geographical and investor type breakdown of the EDP shareholder structure on 31 December 2025 was as follows: 2. Restrictions on Share Transferability In the terms of the Articles of Association, the shares are not subject to any limitations in terms of transferability. 3. Treasury stock As of 31 December 2025, EDP owned 50,123,439 treasury stock shares, corresponding to 1.20% of the share capital. At the General Shareholders’ Meeting held on 10 April 2025, shareholders resolved on the granting of authorization to the Executive Board of Directors for the acquisition and sale of own shares by EDP and subsidiaries of EDP for an 18 (eighteen) month period as from the proposal approved in the General Shareholders' Meeting. 4. Change of company control EDP has not entered into any significant agreements that come into force, are amended or terminate in the event of a change in control of the Company following a takeover bid, except for normal market practice in terms of debt issuance. In fact, EDP is usually a party in financing agreements and issuer of bonds that include change of control clauses, which are typical set forth in such agreements and securities and are necessary for the completion of transactions, not considering that its existence is likely to harm the economic interest in the transfer of EDP shares, nor the free assessment by shareholders of the directors' performance. In addition, with regard to any measures adopted that determine payments or the assumption of charges by the Company in the event of a change in the composition of the management body, apart from the situations set out in the Remuneration Report, there are no contracts in force at EDP that provide for payments in the event of dismissal or termination by agreement of the duties of a director, nor any other measures that determine the assumption of charges by EDP in the event of a change in the composition of the management body. 5. Defensive measures EDP has not taken any measures to prevent takeover bids that would put the interests of the Company and its shareholders at risk. The supplementary rules on this matter remain thus in force. In this regard, it is important to note that, pursuant to Article 15 (3) of EDP's current Articles of Association, votes cast by a shareholder on his own behalf or representing another will not be considered if they exceed 25% of all the votes corresponding to the share capital. EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 199 Breakdown of institutional investors by geography (%) 13% 8% 7%2% 12% 13% 32% 12% UK Spain France Portugal Rest of EU USA APAC Rest of the World Breakdown of shareholders structure by investors (%) 83% 9% 8% Institutional Private investors Trading or others Source: Interbolsa
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Although EDP's Articles of Association impose this limitation on the exercise of voting rights, this limitation is not a measure to prevent successful takeover bids. In fact, the inability of the limitation on voting rights to prevent the success of a takeover bid is the result of EDP's current capital structure and of the compliance of the deliberative quorum of two-thirds of the votes cast, which is set out in EDP's Articles of Association for an amendment to the company agreement on this matter with Article 182 - A (2) of the Portuguese Securities Code. No defensive measures have been taken aimed at or resulting in serious erosion of EDP's assets in the event of transfer of control of the company or a change in the composition of the Executive Board of Directors, thereby prejudicing the free transferability of the shares and free appraisal by the shareholders of the performance of the members of the Executive Board of Directors. 6. Shareholders' agreements According to the Article 7 of EDP's Articles of Association, shareholder agreements regarding the Company must be communicated in full to the Executive Board of Directors and the General and Supervisory Board by the shareholders that have signed them in the 30 (thirty) days following their conclusion. According to information provided to the Company by the shareholders, the Executive Board of Directors is aware of the existence of a single shareholder agreement, which was entered into on 11 April 2007 by Parpública, Caixa Geral de Depósitos, S.A. ("CGD") and Société Nationale pour la Recherche, la Production, Le Transport, La Transformation et la Commercialisation des Hydrocarbures ("Sonatrach"). Although Parpública has sold its shareholdings in EDP's share capital and CGD and Sonatrach do not own a qualifying shareholding in EDP's share capital, according to information at EDP's disposal this does not represent automatic cessation of the effects of the shareholder agreement. EDP has not been informed of any agreement to revoke or amend the said shareholder agreement. In 2021, EDP and Sonatrach agreed to terminate the partnership entered into in 2007, under which EDP assumed full control of the combined cycle natural gas plant, Soto 4, in Spain, with an installed capacity of 426MW, through the acquisition of 25% stake held by Sonatrach, and terminates the commercial relations with Sonatrach that were associated with this partnership. II. Shareholdings and Bonds Held 7. Qualifying holdings Pursuant to Article 29-H of Portuguese Securities Code, we are providing the following information on qualifying holdings owned by EDP shareholders as at 31 December 2025 and attributable voting rights in accordance with Article 20 (1) of the Portuguese Securities Code. Shareholders No. Shares % of Capital % of Total Votes China Three Gorges Corporation (1) 929,037,388 22.20% 22.20% Blackrock, Inc. (2) 349,509,773 8.35% 8.76% Oppidum Capital, S.L. (3) 285,414,883 6.82% 6.82% EDP (Treasury Stock) 50,123,439 1.20% - Remaining Shareholders 2,569,936,141 61.43% - Total 4,184,021,624 100% - (1) Additional information on the qualifying holding can be found in the latest communication to the market regarding the shareholder's holding, as made available on the EDP website. (2) Additional information on the qualifying holding, namely the percentage of voting rights it includes, in addition to the voting rights attached to the shares, the voting rights attached to other attributable financial instruments, can be found in the latest communication to the market regarding the shareholder's holding, as made available on EDP's website. (3) According to paragraph 1 (b) of article 20 of the Portuguese Securities Code, the voting rights inherent to the share capital held by Oppidum Capital, SL and Flicka Forestal, SL are imputable to Fernando Masaveu Herrero. Oppidum Capital, SL is 55.9% owned by Masaveu Internacional, S.L. and 44.1% owned by Unicaja Banco S.A. In turn, Masaveu Internacional, SL is 100% held by Corporación Masaveu, SA. Corporación Masaveu, SA is 41.38% held by Fundación María Cristina Masaveu Peterson, 10.73% by Flicka Forestal, SL and 0.03% by Fernando Masaveu Herrero. Fernan-do Masaveu Herrero controls Fundación María Cristina Masaveu Peterson, Flicka Forestal, SL and Peña Maria, S.L. Additionally, Fernando Masaveu Herrero’s spouse holds 18,467 shares of EDP’s share capital. Also, three depend-ents of Fernando Masaveu Herrero - Pedro Masaveu Compostizo, Jaime Masaveu Compostizo and Elias Masaveu Compostizo - hold each 542 shares of EDP's share capital. In this sense, in total, 6.93% of the voting rights of EDP, corresponding to 289,966,406 shares of EDP’s share capital, are imputable to Fernando Masaveu Herrero. EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 200
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8. Financial instruments owned by members of the management and supervisory bodies Financial instruments owned by members of the Executive Board of Directors As of 31 December 2025, the financial instruments held or attributable to the members of the Executive Board of Directors in office under the terms set forth in article 447 (5) of the Portuguese Companies Code are as follows: EDP , S.A. EDP Renováveis, S.A. Executive Board of Directors (1) No. Shares 31-12-2025 No. Shares 31-12-2024 No. Shares 31-12-2025 No. Shares 31-12-2024 Miguel Stilwell de Andrade (2) 700,424 485,212 - - Rui Manuel Rodrigues Lopes Teixeira (3) 302,643 172,368 359 356 Vera de Morais Pinto Pereira Carneiro (4) 272,850 146,425 - - Ana Paula Garrido de Pina Marques (4) 252,850 126,425 - - Pedro Collares Pereira de Vasconcelos (5) 56,367 - - - (1) The members of the Executive Board of Directors do not hold EDP, S.A. bonds, nor shares or bonds of another company with which EDP, S.A. is in a control or group relationship, with the exception of EDP Renováveis, S.A. shares. (2) As announced to the market on 7 November 2025, Miguel Stilwell de Andrade acquired 30,000 shares representing EDP's share capital. In addition, as part of the payment of the multi-annual component of the remuneration, paid exclusively in shares representing EDP's share capital, 185,212 EDP shares were attributed to Miguel Stilwell de Andrade. (3)As announced to the market on 15 January 2025, Rui Manuel Rodrigues Lopes Teixeira and his spouse acquired a total of 3,250 EDP shares. On 7 November 2025, Rui Manuel Rodrigues Lopes Teixeira acquired 600 EDP shares, transactions worth €2,316 carried out under the terms of Article 19(8) of Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014, as amended by Regulation (EU) 2024/2809 of the European Parliament and of the Council of 23 October 2024, with a value of less than €20,000. In addition, as part of the payment of the multi-annual component of remuneration, paid exclusively in shares representing EDP's share capital, 126,425 EDP shares were allocated to Rui Manuel Rodrigues Lopes Teixeira. On 14 May 2025, as part of the Scrip Dividend operation of EDP Renováveis, S.A., 3 shares representing the share capital of that company were attributed to this member. (4) As part of the payment of the multi-annual component of the remuneration, paid exclusively in shares representing EDP's share capital, 126,425 EDP shares were awarded to Vera de Morais Pinto Pereira Carneiro and Ana Paula Garrido de Pina Marques. (5) As part of the payment of the multi-annual component of the remuneration, paid exclusively in shares representing EDP's share capital, 42,142 EDP shares were awarded to Pedro Vasconcelos. Pedro Vasconcelos was awarded 14,225 EDP shares in the context of a long-term incentive relating to functions previously carried out in the EDP Group. EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 201
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Financial instruments owned by members of the General and Supervisory Board On 31 December 2025, the financial instruments held or attributable to the members of the General and Supervisory Board, under the terms set forth in article 447 (5) of the Portuguese Companies Code, are as follows António Bernardo Aranha da Gama Lobo Xavier - - China Three Gorges Corporation 929,037,388 895,372,977 Shengliang Wu (as representative of China Three Gorges Corporation) - - China Three Gorges International Limited 929,037,388 895,372,977 Guobin Qin (as representative of China Three Gorges International Limited) - - China Three Gorges (Europe), S.A. 929,037,388 895,372,977 Ignacio Herrero Ruiz (as representative of China Three Gorges (Europe), S.A.) - - China Three Gorges Brasil Energia S.A. - - Hui Zhang (as representative of China Three Gorges Brasil Energia, S.A.) - - China Three Gorges (Portugal), Sociedade Unipessoal, Lda. - - Miguel Espregueira Mendes Pereira Leite (as representative of China Three Gorges (Portugal) Sociedade Unipessoal, Lda.) - - DRAURSA, S.A. - - Victor Roza Fresno (as representative of Draursa, S.A.) - - Fernando Maria Masaveu Herrero (2) 289,966,406 285,934,976 Helena Sofia Silva Borges Salgado Fonseca Cerveira Pinto - - Zili Shao - - EDP, S.A. General and Supervisory Board (1) No. Shares 31-12-2025 No. Shares 31-12-2024 Alicia Reyes Revuelta - - Gonçalo Nuno Gomes de Andrade Moura Martins - - María José García Beato - - Sandra Maria Soares Santos - - Stephen Vaughan - - Lisa Frantzis (3) - - EDP, S.A. General and Supervisory Board (1) No. Shares 31-12-2025 No. Shares 31-12-2024 (1) The members of the General and Supervisory Board do not hold any shares in EDP Renováveis S.A., nor do they hold any bonds in EDP, S.A. nor shares or bonds in another company with which EDP, S.A. is in a control or group relationship. (2) As announced to the market on 20 January 2025, Flicka Florestal, S.L., a legal person closely related to Fernando Maria Masaveu Herrero, member of the General and Supervisory Board, informed EDP of the acquisition, in aggregate, of 90,000 shares representing EDP's share capital. Additionally, as announced to the market on 16 December 2025, Masaveu Internacional, S.L., a legal entity closely related to Fernando Maria Masaveu Herrero, member of the General and Supervisory Board, notified EDP of the acquisition, in aggregate, of 3,941,430 shares representing EDP's share capital. As announced to the market on 26 January 2026, Masaveu Internacional, S.L., a legal entity closely related to Fernando Maria Masaveu Herrero, member of the General and Supervisory Board, notified EDP of the acquisition, in aggregate, of 3,891,563 shares representing EDP's share capital. (3)As communicated by the member of the General and Supervisory Board, Lisa Frantzis holds securities in investments funds (Index Funds, Mutual Funds and Exchange-Traded Funds) which may, at any time, (i) hold stakes in EDP and/or in companies controlled by EDP or with which EDP is in a control or group relationship with this company or (ii) hold stakes in companies competing with EDP. In addition, Lisa Frantzis has informed EDP that the member of the General and Supervisory Board has no specific knowledge of the holdings in the aforementioned investment funds, nor does she have any possibility of influencing the respective investment decisions. 9. Special powers of the managing body with regard to decisions to increase share capital The Executive Board of Directors has the powers enshrined in the law and Articles of Association to perform its duties, which are indicated in detail in item 21. In what concerns the approval of decisions on share capital increases, and according to Article 4 (3) of the Articles of Association, the Executive Board of Directors has the power to approve one or more share capital increases up to an aggregate limit of 10% of the current share capital via the issuance of shares to be subscribed by new entries in cash, in accordance with the issuance terms and conditions that it defines. The draft decision must be submitted to the General and Supervisory Board subject to a two- thirds voting majority of the respective members. EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 202
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By resolution of the General Shareholders' Meeting, held on 12 April 2023, pursuant to article 4(3) and (4) of EDP's Articles of Association, the authorisation granted to the Executive Board of Directors was renewed to: (i) increase EDP's share capital by up to 10% of the current share capital through the issue of shares to be subscribed by new cash contributions, on one or more occasions, for a period of 5 years from the date of the General Meeting, under terms and conditions to be defined, subject to prior approval by the General and Supervisory Board by a two-thirds majority, allowing, in particular, to resolve under the provisions of Article 6(2) of the Articles of Association, the issue of ordinary shares or securities convertible into or exchangeable for shares representing EDP's share capital and (ii) increase the share capital, one or more times by an amount corresponding to a maximum of 10% of the current share capital, through the issue of shares, to be paid up in cash and subscribed by qualified investors using accelerated bookbuilding procedure(s), in accordance with the terms and conditions of the issue defined by it, provided that the issue price is not less than (a) 95 per cent of the weighted average share price on Euronext Lisbon on the date the price is set, or (b) 95 per cent of the weighted average share price on Euronext Lisbon in the maximum period of ten days ending on the said date the price is set, and the resolution proposal must be submitted for prior approval by the General and Supervisory Board by a two-thirds majority. It should be noted that, under the provisions of Article 4(5) of EDP's Articles of Association, the authorisations granted to the Executive Board of Directors under the terms of paragraphs 3 and 4 of the said article are not cumulative, in the sense that any shares issued under one of these authorisations will be subject to the maximum limit of the other, and that, therefore, in the use of either or both authorisations, the Executive Board of Directors may not approve share capital increases that exceed 10% of the current share capital. During the aforementioned General Shareholders' Meeting of 2023, it was also decided to waive shareholders' pre-emptive rights in capital increases to be decided by the Executive Board of Directors in EDP capital increases carried out through accelerated bookbuilding procedures in accordance with the terms and conditions of issue defined by it, and with a maximum limit of 10% of the current share capital, as provided for in Article 4(4) of the Articles of Association (not cumulative with the authorisation limit provided for in Article 4(3) of the Articles of Association). 10. Significant business relationships between owners of qualifying holdings and the Company In pursuit of its activity and regardless of its relevance, EDP conducts business with and enters into transactions under normal market conditions for similar operations with several entities, beyond which are included qualified shareholders of EDP or companies related to those. As for the surrounding governance guidelines, on July 29, 2010, the General and Supervisory Board approved the first version of the “Regulation on Conflicts of Interest and Transactions with Related Parties”, which was subject to review during 2015. On 17 May 2010, the Executive Board of Directors approved the rules on identification, in-house reporting and procedure in the event of conflicts of interest applicable to all EDP Group employees who play a decisive role in transactions with related parties. In the Company’s constant quest to adopt best practices, it has been promoting the revision of internal regulations governing conflicts of interest and business between related parties, and in May 2023 the latest update of the Policy on Transactions with Related Parties came into force, and is available for consultation at EDP’s website Transactions with Related Parties Policy | edp.com. The General and Supervisory Board noted that regarding 2025, in view of the cases analysed and the information provided by the Executive Board of Directors, that no evidence was found that the potential conflicts of interest underlying the transactions made by EDP may have been settled contrary to the interests of the Company. The Financial Matters Committee is responsible for supervising enforcement of the aforementioned policy and reports on its work to the General and Supervisory Board. B. Corporate Bodies and Committees I. General Shareholders' Meeting A) Composition of the Board of the General Shareholders' Meeting 11. Name and position of officers of the General Shareholders' Meeting and their term of office Pursuant to Article 13 of EDP’s Articles of Association, the members of the Board of the General Shareholders' Meeting are composed by a Chair, a Vice-Chair, and the Company Secretary, who is appointed by the Executive Board of Directors. 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During the financial year 2025, the composition of the Board of the General Shareholders' Meeting was as follows: Chair Luís Maria Viana Palha da Silva Vice-Chair Inês Viseu Carvalho de Pinto Leite Teles Soares Company Secretary Ana Rita Pontífice Ferreira de Almeida Côrte-Real Board of the General Shareholders' Meeting The Chair of the General Shareholders' Meeting has the in-house human and logistic resources appropriate to his/her needs, including the support of the Legal & Governance, the Investor Relations & ESG, the Communication and the Brand, plus external support from a specialised entity hired by EDP to collect, process, and count the votes. The logistic and administrative resources for the General Shareholders' Meeting are provided by the Company and the organisation is supervised by the Chair of the Board of the General Shareholders' Meeting. B) Exercise of Voting Rights 12. Restrictions on Voting Rights Pursuant to Article 15 (2) of EDP's Articles of Association, each share corresponds to one vote. The Company does not issue shares with special plural voting rights. According to Article 15 (9) of EDP’s Articles of Association, the holders of rights representing shares under ADR (American Depositary Receipt) programs may instruct the respective depositary bank in order to see their voting rights exercised or, alternatively, grant proxy to a representative designated by EDP for such purpose, in compliance with applicable legal or statutory provisions; the depository contract should regulate terms and ways for exercising the voting rights, as well as for cases in which such instructions do not exist. According to Article 15 (10) of the Articles of Association, EDP's shareholders can only participate and vote at the General Shareholders' Meeting if on the date of registration, 00:00 hours (GMT) of the fifth day of trading prior to that of the General Shareholders' Meeting, it owns shares corresponding to, under the Law and the Articles of Association, at least one vote and if they fulfil the other requirements set out in the respective notice of meeting. Shareholders who intend to participate in the General Shareholders’ Meeting must declare this in writing to the financial intermediary with which the individual registration account is open, and it is up to the latter to communicate the intentions received in accordance with the applicable legal terms to the Chair of the Board of the General Shareholders’ Meeting (Article 15 (11) of EDP's Articles of Association and A r t i c l e 2 3 . º - C ( 3 ) o f t h e P o r t u g u e s e S e c u r i t i e s C o d e ) . Shareholders who have expressed their intention to participate in a General Shareholders' Meeting pursuant to the law and the Articles of Association and have transferred ownership of the shares between the fifth day of trading prior to that of the General Shareholders' Meeting and the end thereof, must inform the Chair of the General Shareholders' Meeting and the CMVM immediately (Article 15 (12) of EDP's Articles of Association). EDP shareholders may exercise their right to vote on each of the items on the Agenda under the terms set out in the respective notice, which must provide for at least the possibility of exercise in the following ways: (i) by correspondence postal by means of a communication addressed to the Chair of the Board of the General Shareholders' Meeting, (ii) by electronic means, in advance of or during the meeting, as provided for in article 15 (6) of the Articles of Association. Pursuant to Article 15 (7) of EDP's Articles of Association, the Chair of the Board of the General Shareholders' Meeting must verify the authenticity and regularity of the votes cast in advance and ensure their confidentiality until the time of voting. Shareholders can find the necessary templates or instructions for exercising their voting rights by postal or electronically at at EDP's website. EDP has adopted a number of measures aimed at encouraging shareholders to exercise their right to vote by eliminating obstacles, particularly financial ones, which could affect the exercise of this right, as follows: • general circulation of the notice of meeting of the General Shareholders' Meeting with an express indication of the channels available for the exercise of voting rights and in publications at CMVM website and EDP’s website, in the Justice Ministry and in the Interbolsa Platform (My Interbolsa) and in the NYSE Euronext Lisbon newsletter; • payment of the costs of issuing declarations of ownership of shares for all shareholders who participate in the General Shareholders' Meeting. As per EDP’s Articles of Association, votes cast by a shareholder in his own name or as a representative of another exceeding 25% (twenty-five percent) of all the votes representing the share capital are not EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 204
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considered. This limitation applies to all decisions of the General Shareholders' Meeting, including those for which the law or EDP's Articles of Association provide for a qualified majority of the Company's share capital. Pursuant to Article 15 (5) of EDP’s Articles of Association, the votes attributable to the same shareholder, are considered to have been cast by the same shareholder, under terms of the legal provisions. Pursuant to Article 16 (3) and (4) of the Articles of Association, and for the purposes of limiting voting rights, EDP's shareholders are obliged to provide the Executive Board of Directors all information that it requests from them on facts concerning them and related to Article 20 (1) of the Securities Code. Noncompliance with this obligation shall result in prevention of the exercise of voting rights pertaining to the shares owned by the shareholder in question. If the limitation on the counting of votes affects a number of shareholders, it will operate in proportion to the ordinary shares owned by each one (Article 15 (4) (a) of the Articles of Association). Furthermore, shareholders who reach or exceed, directly or through votes attributable to them under legal terms, a shareholding of 5%, 10%, 15%, 20%, 25%, one third, half, two thirds and 90% of the voting rights corresponding to EDP’s share capital and anyone who reduces their shareholding to a value below any of those thresholds communicates this fact to the Executive Board of Directors, as quickly as possible and within a maximum period of four trading days after the day on which the fact occurred or became known (Article 16 (1) of EDP's Articles of Association). 13. Maximum percentage of voting rights that can be exercised by a single shareholder or shareholders that are related in some of the relations of Article 20 (1) See item 12. 14. Decisions of shareholders who, under the Articles of Association, can only be made by a qualified majority other than those provided for by law Decisions by the General Shareholders' Meeting are taken by a majority of votes cast, unless the law or the Articles of Association require a qualified majority (Article 12 (3) of the Articles of Association). Article 11 (1) of the Articles of Association defines the performance of functions in any corporate body or other corporate structure is incompatible with: • the status of a legal person that is a competitor of EDP or a company in a control or group relation with EDP; • the status of a legal person or an individual related to a legal person that is a competitor of EDP; • the exercise of functions, of any nature or for any reason whatsoever, notably by appointment to a corporate office, by employment contract or by services provision agreement, at a legal person that is a competitor of EDP or at a legal person related to a legal person that is a competitor of EDP; • the appointment, even if only in fact, for a corporate body member by a competing legal person or a person, natural or legal, related to a legal person competing with EDP. Nevertheless, Article 11 (4) defines that the incompatibilities set forth in the foregoing paragraphs may also not apply to the performance of functions as a member of the general and supervisory board, to the extent permitted by law, subject to authorization given by prior resolution, with the favour of two thirds of the votes cast at the elective general shareholders’ meeting. The competition relation must be expressly referred to and precisely identified in the appointment proposal, and the authorization resolution may be subject to conditions, notably to a holding of no more than 10% of EDP’s share capital. It should also be highlighted that, according to Article 11 (10) of EDP’s Articles of Association, it should not be deemed to be a competitor of EDP the legal person shareholder that individually holds at least 20% of the share capital of EDP, and that, directly or through a legal person which is in a domain relationship with it, enters into and maintains a medium or long term strategic partnership of business cooperation in the activities of generation, distribution or supply of electricity or natural gas, approved in accordance with legal and statutory provisions, with prior favourable opinion of the General and Supervisory Board. In all other cases, the deliberative quorum set out in Article 383 (2) of the Portuguese Companies Code applies. II. Management and Supervision A) Composition 15. Corporate governance model EDP's governance structure is a dual model one and consists of the General Shareholders' Meeting, Executive Board of Directors, General and Supervisory Board and the Statutory Auditor. The separation of management and supervision roles is embodied in an Executive Board of Directors, which is responsible for the management of the Company’s business, and a General and Supervisory Board, the highest supervisory body. EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 205
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The division of competences between the Executive Board of Directors and the General and Supervisory Board, has been assuring an effective management of the Company, benefited by a constant and attentive supervision. The dual model of corporate governance in place at EDP since July 2006 has allowed for an effective separation of the Company’s supervision and management in pursuit of the goals and interests of EDP and its shareholders, employees, and other stakeholders, thereby contributing to achieving the degree of trust and transparency necessary for its adequate functioning and optimization. It is also important to note that this governance model has proven to be adequate to the size and shareholder structure of the Company, allowing for constant supervision both by the reference shareholders and by the independent members, through the respective intervention in the General and Supervisory Board. Considering the transversal competences of the General and Supervisory Board and the specificities of the activities of the four Specialized Committees, the integration of members of the General and Supervisory Board and of the Executive Board of Directors of EDP should, according to the Selection Procedure of the members of the General and Supervisory Board and of the Executive Board of Directors, ensure diverse skills, professional experiences, diversity of knowledge, gender and cultures, taking into account the specificities of the Company's business. Along with the concern for the individual adequacy of each member, it is also sought that the composition of the corporate bodies and other corporate structures demonstrate a collective adequacy, bringing together the professional and personal skills necessary for the proper performance of the functions of each body of EDP. Likewise, in determining the respective number of members, the size of the Company, the complexity of its activity and its geographical dispersion are considered, in addition to the costs and the desirable speed of operation of the administration. According to Article 12 (2) (b) of the Articles of Association, it is the responsibility of the General Shareholders' Meeting of EDP to elect and dismiss the members of the Executive Board of Directors and the General and Supervisory Board, as well as their Chair and Vice-Chair, if any, and, at the proposal of the General and Supervisory Board, or delegated by it, the Financial Matters Committee, the Statutory Auditor. The General Shareholders'Meeting also appoints the members of the Remuneration Committee of the General Shareholders'Meeting. For a better understanding of EDP's corporate governance, EDP's website allows shareholders and the general public to view the up-to-date Articles of Association in Portuguese and English, the Internal Regulation of the Executive Board of Directors, General and Supervisory Board and its committees, documents that have been modified in order to accommodate best practices, notably the principles and recommendations set forth by the Corporate Governance Code issued by the Portuguese Institute for Corporate Governance. With regard to preventing and combating harassment at work, and in addition to the commitments already made by the Company in its Code of Ethics, available on the EDP website at Code of Ethics | edp.com, the Code of Good Conduct for the Prevention and Combating of Harassment at Work, applicable to all employees of EDP Group companies, came into force on 21 November 2017 and was revised on 17 July 2023. This Code also expressly requires suppliers or service providers to respect or adhere to the principles set out therein, in accordance with the obligations arising from qualification procedures or established contracts. In this regard, channels for reporting complaints are available on the EDP website at Canal Speak Up EDP | edp.com – and on the other websites of the applicable EDP Group companies. Additionally, the Integrity Policy approved by the Executive Board of Directors has implemented the mandatory execution to all EDP Group companies as well as to its employees, service providers acting on its behalf, in strict compliance with the legal framework applicable in geographies where the Group is present which aim to avoid unlawful conducts, in particular those associated with the practice of corruption acts, money laundering and terrorism financing. EDP Group is committed to promote an exempt, honest, integrated, professional, and fair action and requires that its employees and contracted third parties behave in accordance with such commitment, complying with the legislation and regulation in force. The EDP Group Companies has implemented and has disseminated prevention, detection, and control measures towards any form of corruption, prevarication, conduct on conflict of interest, influence peddling, money laundering, terrorism financing and other illegal acts. In this regard, the EDP Group Companies may adopt more demanding additional measures, according to local needs, always ensuring the compliance with the local applicable legislation. Additionally, the Ethics & Compliance which independence is guaranteed through the reporting to the Executive Board of Directors and to the General and Supervisory Board/Financial Matters Committee of EDP is responsible to biennially review this Policy or whenever any relevant legislative change occurs, submitting those amendments to the Executive Board of Directors for approval. The Integrity Policy of EDP Group was revised in 2025 and is available at EDP’s website: EDP Integrity Policy | edp.com. EDP intends to continue to assume a precursor and excellence role about the promotion of best government practices, in the hope that this initiative may also contribute to enrich the debate on these matters in the general context of the organization and functioning of public limited companies, particularly in Portugal. 16. Articles of Association rules on procedural and material requirements for the appointment and replacement of members of the Executive Board of Directors and General and Supervisory Board It is the role of the General Shareholders' Meeting to elect and remove members of the Executive Board of Directors and the General and Supervisory Board, including their Chair. EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 206
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In the event of permanent or temporary absence of any of the members of the Executive Board of Directors, the General and Supervisory Board arranges for his/her replacement and the appointment must be ratified by the next General Shareholders' Meeting, under Article 23 (1) (g) of the Company’s Articles of Association. In the event of permanent absence of any of the members of the General and Supervisory Board, the substitutes on the list submitted to the General Shareholders' Meeting must be summoned by the Chair of this Board to replace him/her, following the order on the list. Pursuant to Article 22 (4) of EDP's Articles of Association, the substitutes on the list must all be independent. If there are no substitutes, they will be elected by the General Shareholders’ Meeting. 17. Composition of the Board of Directors, Executive Board of Directors and General and Supervisory Board2 At the Annual General Shareholders' Meeting held on 10 April 2024, the shareholders elected the members of the General and Supervisory Board and the Executive Board of Directors for a three-year mandate 2024-2026, as well as the Chair of the Board of the General Shareholders' Meeting, with the term of office of the members of this corporate body ending on 31 December 2026, without prejudice to their remaining in office until a new appointment is made. General and Supervisory Board In the exercise of its duties – see Article 441 of the Companies Code and Article 23 of EDP’s Articles of Association - the main mission of the General and Supervisory Board is to constantly advise, monitor and supervise the management activities of EDP, cooperating with the Executive Board of Directors and the various other corporate bodies in pursuit of the Company’s interests, pursuant to the Companies Code and the company’s Articles of Association. It is elected by the shareholders at the General Shareholders' Meeting. Pursuant to Article 22 (1) of the Articles of Association and Article 3 (1) of Internal Regulation of the General and Supervisory Board, the General and Supervisory Board is composed of a number of effective members that will be established in the the respective resolution, but always more than the number of members of the Executive Board of Directors. Most of the elected members of the General and Supervisory Board must be independent, pursuant to Article 22 (3) of the Articles of Association. EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 207 2 This Item addresses ESRS 2 GOV-1.
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On 31 December 2025, the General and Supervisory Board was composed by the following members: General and Supervisory Board Independent Members First Appointment Date António Bernardo Aranha da Gama Lobo Xavier - CHAIR Independent 10/04/2024 China Three Gorges Corporation represented by Shengliang Wu 20/02/2012 China Three Gorges International Limited represented by Guobin Qin 14/04/2021 China Three Gorges (Europe), S.A. represented by Ignacio Herrero Ruiz 20/02/2012 China Three Gorges Brasil Energia, S.A. represented by Hui Zhang 05/04/2018 China Three Gorges (Portugal), Sociedade Unipessoal, Lda. represented by Miguel Espregueira Mendes Pereira Leite 21/04/2015 DRAURSA, S.A. represented by Victor Roza Fresno 21/04/2015 Fernando Maria Masaveu Herrero 20/02/2012 Helena Sofia Silva Borges Salgado Fonseca Cerveira Pinto Independent 14/04/2021 Zili Shao Independent 14/04/2021 Alicia Reyes Revuelta Independent 10/04/2024 Gonçalo Nuno Gomes de Andrade Moura Martins Independent 10/04/2024 María José García Beato Independent 10/04/2024 Sandra Maria Soares Santos Independent 10/04/2024 Stephen Vaughan Independent 10/04/2024 Lisa Frantzis Independent 10/04/2024 EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 208
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Executive Board of Directors The Executive Board of Directors is responsible for managing the Company's activities and representing the Company, pursuant to Article 431 of the Companies Code and Article 18 of the Articles of Association and was elected by the shareholders at a General Shareholders' Meeting. Pursuant to Article 17 (2) of the Articles of Association of EDP, the Executive Board of Directors must have a minimum of three and a maximum of nine members. The members of the Executive Board of Directors may not exercise executive functions in more than two companies not integrating EDP Group, and the exercise of the referred functions shall be subject to prior appraisal by the Executive Board of Directors, according to Article 7 of the Internal Regulation of such body. On 31 December 2025, the Executive Board of Directors was composed as follows: Executive Board of Directors First Appointment Date Miguel Stilwell de Andrade - CHAIR 20/02/2012 Rui Manuel Rodrigues Lopes Teixeira 21/04/2015 Vera de Morais Pinto Pereira Carneiro 05/04/2018 Ana Paula Garrido de Pina Marques 19/01/2021 Pedro Collares Pereira de Vasconcelos 12/04/2023 18. Independent members of the Executive Board of Directors and General and Supervisory Board EDP's Articles of Association (Article 10 (1), Article 11 (1), Article 12 (2) (d), Article 22 (3), Article 23 (1) (a), Article 24 and Article 28) and the Internal Regulation of the General and Supervisory Board (Article 8), both available on its website: Articles of Association of EDP and Internal Regulation of the General and Supervisory Board, lay down the rules on independence and incompatibilities for the exercise of functions in any corporate body or other corporate structure of EDP. The criteria of independence set out in EDP's Articles of Association are in line with those laid down in 414 (5) of the Companies Code and determine that independence means an absence of direct or indirect relations with the Company or one of its bodies and an absence of any circumstances that might affect impartiality of analyses or decisions, e.g. because the people in question own or are acting on behalf of owners of a qualifying shareholding of 2% (two percent) or more of the share capital of EDP or have been re-elected for more than two terms of office continuously or intermittently. Pursuant to Article 10 (1) of EDP's Articles of Association, independent members are those who are not associated with any specific interest group in the company, nor are they in any circumstance likely to affect their impartial analysis and decision, namely by virtue of holding or acting in the name and on behalf of holders of a qualifying holding equal to or greater than 2% of EDP's share capital or having been re-elected for more than two terms, continuously or in between. Under the terms of Article 10(2) of EDP's Articles of Association, the corporate body or other corporate structure that must include independent members, should permanently assess whether the legal and statutory requirements as well as those resulting from recommendations that EDP should comply with are met. In case of non-compliance with the latter, non-compliance must be justified considering the specific reality of EDP. In view of the need to clarify the aforementioned Article 414 (5) of the Companies Code, as there are diverging legal opinions, Associação de Emitentes de Valores Cotados em Mercado (“AEM”) requested an opinion from the CMVM , whose opinion was that the capacity as independent is only lost if, “on the basis of the criterion of number of terms of office, in a situation likely to affect his/her impartiality in analyses or decisions if the members of the supervisory bodies of public limited companies, having been elected for a first term of office and re-elected continuously or intermittently for a second and third term, are re-elected (for the third time, therefore) for a fourth term of office.” Pursuant to its Internal Regulation, the General and Supervisory Board has in place a specific procedure regarding compliance with a large number of rules on incompatibilities and independence applicable to positions on this board (Articles 7 and 8 of the Internal Regulation of the General and Supervisory Board). This procedure includes the following aspects: • acceptance of a position as member of the General and Supervisory Board is subject to a written statement setting out specifically (i) the inexistence of any incompatibility under the law or Articles of Association; (ii) compliance with the independence requirements set out in its Internal Regulation, if the person has been elected as an independent member; (iii) the members' obligation to report to the Chair of the General and Supervisory Board or, for the Chair, directly to the board any subsequent event that might generate incompatibility or loss of independence; EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 209
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• every year, the members of the General and Supervisory Board must renew their statements as to the inexistence of incompatibility and, if applicable, the compliance with the independence requirements. Also, every year, the General and Supervisory Board conducts a general assessment of compliance with the rules of incompatibility and independence by its members. At the same time, the Internal Regulation of the General and Supervisory Board (Article 8) has broadened the independence criteria applicable to its members, going beyond the provisions of Article 414 (5) of the Companies Code and Article 10 of EDP's Articles of Association, and so people who directly or through their spouse or relative or similar in a straight line and to the collateral third degree, inclusive, are in one of the following situations cannot have independent status: • being holder, director, having contractual ties or acting on behalf or on the account of owners of a qualifying shareholding of 2% (two percent) or more of the share capital or voting rights in EDP or the same percentage in a company of which it is a subsidiary; • being a holder, director, having contractual ties or acting on behalf or on the account of owners of a qualifying shareholding of 2% (two percent) or more of the share capital or voting rights in a company that is a competitor of EDP; • having been re-elected for more than two consecutive or non-consecutive terms of office; • having exercised for twelve years, on a consecutive or non-consecutive basis, functions in any corporate body of the Company exception made to, from the end of its functions in any body and its new appointment, at least a three-year period has elapsed; • having, in the last three years, provided services or had a significant commercial relation with the Company or one of its Subsidiaries; and, • being a remuneration beneficiary paid by the Company or one of its Subsidiaries other than the remuneration deriving from the execution of its functions as a member of the General and Supervisory Board. The rules of independence covering members of the General and Supervisory Board are particularly important regarding the following requirements: • the board must consist of a majority of independent members (Article 434 (4) and Article 414 (5) and (6) of the Companies Code and Article 22 (3) of EDP's Articles of Association); • the majority of the members appointed to the Specialised or Monitoring Committees set up by the General and Supervisory Board must be independent (Article 24(4) of EDP's Articles of Association); • the Financial Matters Committee is composed, at least by, three independent members of the General and Supervisory Board (Article 24 (2) of EDP Articles of Association and Article 3 (1) and (2) of the Financial Matters Committee’s Internal Regulation); In compliance with the above procedure, at the start of their terms of office, the members of the General and Supervisory Board stated that they were not in any of the situations of incompatibility set out in the Companies Code (Article 414-A (1) (a) to (e), (g) and (h) (ex vi Article 434 (4)) and Article 437 (1)) or under Article 11 (1) of the Articles of Association and, where applicable, that they complied with the independence requirements of the Internal Regulation of the General and Supervisory Board and the Articles of Association of EDP (article 10 (1), article 12 (2) (d) and article 22 (3)) . Of the incompatibility situations for the exercise of the role of member of the General and Supervisory Board, pursuant to the Article 414-A of the Companies’ Code, it is considered the exercise of functions of administration or supervisory in five companies. Therefore, one may not be elected or designated a member of the General and Supervisory Board if holds office of administrator or supervisor in five companies. At the end of 2025, the members of the General and Supervisory Board renewed their statements on incompatibilities and on independence. The above statements are available to the public at EDP's website at General and Supervisory Board Incompatibility Statements. The independent members of the General and Supervisory Board are shown in the chart in Item 17 above. 19. Qualifications of the members of the General and Supervisory Board and Executive Board of Directors3 See Annex I of this Report. EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 210 3 This Item addresses ESRS 2 GOV-1.
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20. Family, work-related and business relationships of the members of the General and Supervisory Board and Executive Board of Directors with shareholders owning a qualifying shareholding of over 2% of the voting rights As for the General and Supervisory Board, and to the best of EDP's knowledge, there are professional relationships between Board members and shareholders attributed a qualifying holding of more than 2% of voting rights, as described below: • Shengliang Wu, Guobin Qin, Ignacio Herrero Ruiz, Hui Zhang and Miguel Espregueira Mendes Pereira Leite were appointed representatives respectively of the members of the General and Supervisory Board, through China Three Gorges Corporation, China Three Gorges International Limited, China Three Gorges (Europe), S.A., China Three Gorges Brasil Energia, S.A. (formerly China Three Gorges Brasil Energia Ltda.) e China Three Gorges (Portugal), Sociedade Unipessoal, Lda. China Three Gorges (Europe), S.A., held, on 31 December 2025, a 22.20% shareholding in EDP; • The member of the General and Supervisory Board Fernando María Masaveu Herrero is chairman of the management body of Masaveu International, S.L. which owns 55.9% of Oppidum, S.L., a company with a 6,82% shareholding in EDP, on 31 December 2025. Fernando María Masaveu Herrero is also chairman of the administration body of Oppidum, S.L; • Victor Roza Fresno, a member of the General and Supervisory Board, is a director of various companies in the Corporación Masaveu, S.A. Group, which, in turn, owns 55.9% of Oppidum, S.L., through Masaveu International, S.L., a company that held a 6.82% stake in EDP's share capital on 31 December 2025. 21. Organisation chart, delegation, and division of powers4 EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 211 4 This Item addresses ESRS 2 GOV-1.
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Powers of the General and Supervisory Board Pursuant to Article 23 of the Articles of Association, the General and Supervisory Board is especially responsible for: • permanently monitor the management of EDP and its subsidiaries and provide management advice and assistance to the Executive Board of Directors, particularly regarding strategy, goals, and compliance with the law; • issue opinions on the annual report and accounts; • permanently oversee the work of the Statutory Auditor of the Company, regarding the former, issue an opinion on their election or appointment, dismissal, independent status, and other relations with the Company; • oversee, on a permanent basis, and evaluate internal accounting and auditing procedures, the efficacy of the risk management system, internal control system and internal auditing system, including the way in which complaints and queries are received and processed, whether originating from employees or not; • propose to the General Shareholders' Meeting the removal from office of any member of the Executive Board of Directors; • monitor the definition of criteria and responsibilities required or appropriate for the structures and internal bodies of the Company or Group and their impact and draft follow-up plans; • provide for the replacement of members of the Executive Board of Directors in the event of permanent or temporary absence, as required by law; • issue an opinion on their annual vote of confidence in the directors set out in Article 455 of the Company Code, on its own initiative or when requested to do so by the Chair of the Executive Board of Directors; • monitor and assess matters of corporate governance, sustainability, internal codes of ethics and conduct and compliance with these codes and systems for appraising and resolving conflicts of interest, including those associated with the Company's relations with its shareholders, and issue opinions on these matters; • obtain the financial or other resources that it reasonably deems necessary for its work and ask the Executive Board of Directors to take any measures or make any corrections that it considers pertinent, with the power to hire independent consultants, if necessary; • receive regular information from the Executive Board of Directors on significant business relations between the Company or its subsidiaries and shareholders with a qualifying holding and persons related to them; • appoint the Remuneration Committee and Financial Matters Committee; • represent the Company in its relations with the directors; • supervise the work of the Executive Board of Directors; • oversee compliance with the law and Articles of Association; • select and replace the Company's Statutory Auditor, giving the Executive Board of Directors instructions for engagement or dismissal; • monitoring the bookkeeping, accounts and supporting documents and the status of any assets or securities held by the Company, as and when it deems appropriate; • supervise the preparation and disclosure of financial information; • call the General Shareholders' Meeting when it deems appropriate; • approve its Internal Regulation, which includes rules on relations with the other corporate bodies and corporate structures; • exercise any other powers that may be granted by law, the Articles of Association or by the General Shareholders' Meeting. Under the corporate governance model in place at EDP, the General and Supervisory Board also has a power of particular importance. Although it does not have management powers, pursuant to Article 442 (1) of the Company Code, Article 18 (2) of the Articles of Association lays down that the approval of EDP's strategic plan and performance of the operations indicated below by EDP or its subsidiaries are subject to a prior favourable opinion from this board (see also Article 15 of the Internal Regulation of the General and Supervisory Board): • acquisitions and sales of assets, rights, or shareholdings of significant economic value; EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 212
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• financing operations of significant value; • opening and closure of establishments, or important parts thereof, and substantial extensions or limitations of Company activity; • other transactions or operations of significant economic or strategic value; • formation or termination of strategic partnerships or other forms of lasting cooperation; • plans for splits, mergers, or conversions; • amendments to the Articles of Association, including changes of registered office and share capital increases when on the Executive Board of Directors' initiative. The Chair of the General and Supervisory Board is granted particular powers, and pursuant to Article 5 of the General and Supervisory Board Internal Regulation, is responsible for: • representing the General and Supervisory Board and the advocate of its decisions before other corporate bodies; • promoting the necessary endeavours for the adequate monitoring by the General and Supervisory Board of the Company and Subsidiaries activity; • coordinating the activities of the General and Supervisory Board and the Committees functioning, having the right to attend any meeting and being informed on any activity performed by such Committees; • proposing to the General and Supervisory Board plenary the members, the Chairperson and, when existing, the Vice-Chairperson of each Committee; • endeavouring for that the General and Supervisory Board members receive in a timely manner all the necessary information for the full development of their functions; • overseeing the budget execution of the General and Supervisory Board and manage the material and human resources allocated to it; • convene and preside to the General and Supervisory Board meetings, being responsible to monitor the correct execution of its resolution. The Chair of the General and Supervisory Board or, in his/her absence or incapacity, a member selected by the board for that purpose, may attend meetings of the Executive Board of Directors whenever s/he sees fit and take part in the discussion of matters to be submitted to the General and Supervisory Board, without having any voting rights pursuant to Article 22 (9) of EDP's Articles of Association. The members of the Financial Matters Committee have a right to attend the meetings of the Executive Board of Directors when the accounts are appraised (see Article 10 of the Financial Matters Committee Internal Regulation). Worth also noting that the General and Supervisory Board annually performs: • a self-assessment of its activity and performance and those of its committees, the conclusions of which are set out in its annual report (see Article 12 of the General and Supervisory Board Internal Regulation); • an independent assessment of the activity and performance of the Executive Board of Directors, the conclusions of which are submitted to the General Shareholders' Meeting and are presented of annex to the annual report of the General and Supervisory Board. On the initiative of the General and Supervisory Board, EDP has voluntarily established a formal, impartial process to assess the activity of this board and of the Executive Board of Directors. Experience of recent years has allowed the General and Supervisory Board to make some changes in the process to make it more effective and efficient. During the 2025 financial year, the method used comprises the following stages: • carry out the collective evaluation process of the General and Supervisory Board, its Specialized Committees, and the Executive Board of Directors to an external entity, in order to have interviews supported by individual questionnaires to the General and Supervisory Board members support in completing and validating the treatment of information to support the evaluation process; • in the beginning of 2026, each member of the General and Supervisory Board have answered an interview made by specialized consultants, answering to quantitative and qualitative matters, in particular on matters related to the composition, organization and functioning, activity performance of the General and Supervisory Board, relationship between the General and Supervisory Board and the Specialized Committees and other EDP corporate bodies as well as to proceed with the analysis of matters related with the composition, organization of the Executive Board of Directors, its activity performance and the relationship between the Executive Board of Directors and the General and Supervisory Board; EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 213
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• reports were produced on the General and Supervisory Board evaluation, on its Specialized Committees and on the Executive Board of Directors, which were available for assessment in the General and Supervisory Board meeting; • in its meeting, the General and Supervisory Board issues its assessment opinions and they are included in this board's annual report. At the General Shareholders' Meeting, the Chair of the General and Supervisory Board presents the board's opinion in the item of the agenda for assessment of the Executive Board of Directors. Powers of the Executive Board of Directors The Executive Board of Directors is a collegial body. No director is allowed to represent more than one other director at each meeting. The powers of the Executive Board of Directors, in accordance with the Article 18 (1) of the Articles of Association, include: • setting the goals and management policies of EDP and the EDP Group; • drawing up the annual business and financial plans; • managing corporate business and undertaking all actions and operations associated with the corporate object that do not fall within the responsibilities of other company bodies; • representing the Company in and out of court, actively and passively, with the power to waive, transact and admit guilt in any legal proceedings and make arbitration agreements; • buying, selling or by any other means disposing or encumbering rights or immovable assets; • setting up companies and subscribing, purchasing, encumbering, and selling shareholdings; • deciding on the issue of bonds and other securities in accordance with the law and the Articles of Association, in compliance with the annual quantitative limits set by the General and Supervisory Board; • establishing the technical and administrative organisation of EDP and the Internal Regulation, particularly in relation to personnel and their remuneration; • appointing proxies with such powers as it sees fit, including the power to delegate; • appointing the Company Secretary and alternate; • hiring and dismissing the Statutory Auditor on recommendation of the General and Supervisory Board; • exercising any other powers that may be granted to it by law or by the General Shareholders' Meeting; • establishing its own Internal Regulation. It should be noted that proposals to amend EDP's Articles of Association regarding share capital increases submitted by the Executive Board of Directors require a favourable prior opinion from the General and Supervisory Board, pursuant to Article 18 (2) (g) of the Articles of Association. The Chair of the Executive Board of Directors sends the Chair of the General and Supervisory Board the notices of meetings, support documents and minutes of the meetings and, on request, provides appropriate, timely information. The Executive Board of Directors also provides, when requested by other members of the corporate bodies, in a timely manner and in a manner appropriate to the request, all information required by them. In terms of information availability, it is worth mentioning the existence of a portal for sharing information between the Executive Board of Directors and the General and Supervisory Board and their respective Committees, accessible to all members of these bodies, without prejudice to restrictions on access to information for members who are in a situation of conflict of interest. The Chair of the Executive Board of Directors is granted particular powers by Article 19 of the Articles of Association. These powers are: • representing the Executive Board of Directors; • coordinating the work of the Executive Board of Directors and convening and presiding over its meetings; • ensuring proper execution of the decisions of the Executive Board of Directors. The Chair of the Executive Board of Directors is entitled to attend the meetings of the General and Supervisory Board, whenever considered appropriate, except when these concern decisions on the supervision of the work of the Executive Board of Directors and, in general, any situations that may involve a conflict of interest, pursuant to Article 19 (2) of the Articles of Association. EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 214
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In the Executive Board of Directors there is a functional division of management areas to each of its members. The college of directors is responsible for making decisions on all matters within its remit. Delegated powers are not granted to directors individually, because of the board's particular nature. As previously explained, the activity and performance of the Executive Board of Directors are assessed continuously and independently by the General and Supervisory Board on an annual basis. EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 215
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EDP's Functional Structure In 31 December 2025, the allocation of management areas and corporate issues to the members of the Executive Board of Directors in office was as follows: Miguel Stilwell de Andrade Business Enablement Function Platform CORPORATE GOVERNANCE SUPPORT Networks CEO Office - CEO Office & Corporate Affairs GAO - Global Acceleration Office Region IA - Internal Audit Iberia Networks E&C - Ethics & Compliance Europe (exc. Iberia) L&G - Legal & Governance South America RESOURCES North America P&O - People & Organization STRATEGY & FINANCE AREA Other Structures SM&A - Strategy and M&A Hydrogen & Data Centers COMMUNICATION & BRAND COM - Communication Rui Teixeira Business Enablement Function Global Business Services RESOURCES Global Business Services Procurement STRATEGY & FINANCE AREA SM&A - Strategy and M&A IR&ESG - Investor Relations & ESG FP&A - Financial Planning & Analysis CF - Corporate Finance AC&T - Accounting, Consolidation and Tax RISK, SAFETY & SOCIAL Risk Vera Pinto Pereira Business Enablement Function Platform RESOURCES Client Solutions Innovation RISK, SAFETY & SOCIAL Social & Foundations COMMUNICATION & BRAND Brand Ana Paula Marques Business Enablement Function Platform RESOURCES Renewable Generation Assets DGU - Digital RISK, SAFETY & SOCIAL SS&BC - Safety, Security & Business Continuity Pedro Vasconcelos Business Enablement Function Platform REGULATION AND INSTITUTIONAL RELATIONS Global Energy Management RM&S - Regulation, Markets & Stakeholders Region Iberia Asia Pacific EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 216
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Group's Organisational Model The Executive Board of Directors is responsible for defining the EDP Group's organisational model and splitting competences. Since 2024, EDP's operating model has been based on a matrix organizational structure, made up of Platforms, Regions, Business Enablement Functions and Global Business Services, with the aim of guaranteeing EDP's integrated presence and a simplified governance model with clear decision- making guidelines and responsibilities, Assuming a structuring functions, the coexisting Platforms and Regions aim to achieve results in a collaborative manner, acting in a unified way towards the market and ensuring an integrated orientation with transversal capabilities. EDP Platforms and Regions Since 2021, EDP has been establishing a platform management model with the inherent coordination mechanisms, respecting the existing structures in the various geographies in which the Group is present. From 2024 onwards, the organisational structure established took into account, in addition to the four Business Platforms, which currently include Renewables Generation Assets, Global Energy Management, Client Solutions and Networks, the Regions in which the Group operates, namely Iberia, Europe, South America, North America, Asia Pacific and Iberia Networks, in strict compliance with the legal-regulatory framework and taking into account the specificities existing in each of the geographies and business areas in which the Group operates, while at the same time enabling a consistent, synergistic and global response to the objectives that the EDP Group has been outlining. In this context, the creation of Global Business Services and the Hydrogen & Data Centers area should also be highlighted. Business Enablement Functions The Business Enablement Functions act to create optimised end-to-end functional support that guarantees global functional leadership. Global Business Services provide tailored professional/ transactional services, favouring growth and transformation throughout EDP. The Executive Board of Directors is also supported by specific Committees that enable more effective monitoring matters and contribute to the decision-making process. On 31 December 2025, EDP's organisational structure consisted of the following Business Enablement Functions: Organizational Structure BUSINESS ENABLEMENT FUNCTIONS Corporate Governance Support Legal & Governance Rita Ferreira de Almeida CEO Office & Corporate Affairs Mónica Gameiro Global Acceleration Office María del Carmen Diaz-Pedregal Internal Audit Azucena Viñuela Hernández Ethics & Compliance Rita Sousa Strategy & Finance Area Strategy and M&A André Fernandes Corporate Finance João Gouveia Carvalho Accounting, Consolidation, and Tax Felix Arribas Arias Financial Planning & Analysis Rui Antunes Investor Relations & ESG José Miguel Viana Risk, Safety & Social Risk Rui Eustáquio Safety, Security and Business Continuity Prashant Krishnan Social & Foundations Martim Salgado Regulation and Institutional Relations Regulation, Markets and Stakeholders Management Pedro Vasconcelos (*) Resources Digital João Nascimento People & Organization Paula Carneiro Procurement José Machado Innovation António Coutinho Communication & Brand Communication Rui Cabrita Brand Catarina Barradas (*) Position temporarily assumed. EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 217
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The Legal & Governance provide global legal advice and risk support to EDP and its corporate structures, corporate bodies, businesses and activities worldwide, coordinating legal matters to deliver value-added, reliable and agile legal solutions; also define strategic corporate governance policies and guidelines, to contribute to making EDP a benchmark for the sector. The CEO Office & Corporate Affairs support the Executive Board of Directors in all matters defined within the scope of their action, with the aim of contributing to maximizing the effectiveness of its actions and decisions. Provide institutional representation in relation to external stakeholders, including Global Associations, Embassies, Delegations and other diplomatic relations, as well as Conferences and other events. The Global Acceleration Office accelerate and drive company-wide strategic and transversal transformation initiatives across the "organization challenging" potential to deliver more and execute faster, coordinating all stakeholders involved and working closely with Platform/Region/Business Enablement Functions/Global Business Services Heads to ensure that transformation initiatives are aligned with overall business goals and are executed effectively. The mission of the Internal Audit is enhance and protect the organization's value by providing risk- based, objective, and independent assurance, advice, and insight. Evaluate and improve the effectiveness of risk management, control, and governance processes. The Ethics & Compliance is responsible for define group wide ethics and compliance vision and strategy, identifying, analysing and evaluating compliance risks, defining and implementing control mechanisms for identified risks and providing advice to business proactively and systematically. The mission of Strategy and M&A is to advise and support the Executive Board of Directors on the decision-making through the coordination of Strategic discussions and of the Investment Committee of the Group, as well as the execution of Strategic M&A and partnerships, Equity Capital Market transactions, Asset rotation and Investment approvals to support the Regions, Platforms and Functions. The mission of Corporate Finance is define and discuss group's capital structure, analyse project finance opportunities and funding strategies, and monitor and discuss treasury operations, financial positions and financial risk exposure. The Accounting, Consolidation, and Tax oversees and ensure accounting, consolidation & tax management. activities to enhance financial compliance, transparency, to optimize tax outcomes and processes of the group and to ensure accurate and consistent accounting of operations across all entities. The mission of the Financial Planning & Analysis is to analyse, discuss and approve long-term financial plans and budgets while monitoring CAPEX and OPEX execution and driving efficiency initiatives across the group as well as tracking financial performance and provide financial information, forecasting and analysis to support decision making and set strategy. The mission of the Investor Relations & ESG is review and discuss investor relations and ESG strategy, analysing financial and ESG information to be published, monitoring ESG performance and the implementation of key sustainability initiative. The mission of the Risk is define a group wide risk management strategy, through an integrated process that identifies, analyses, assesses, mitigates and monitors main risk exposures, closely and independently, supporting business in maximizing risk-return trade-off. The Safety, Security and Business Continuity place safety and security as a core value of EDP’s culture and develop a preventive attitude to avoid work-related accidents and occupational diseases, protect people and assets from external threats and promote occupational health, while assuring effective business continuity and crisis management response. The Social & Foundations defines and implement a comprehensive vision and strategy across the entire group, focusing on generating positive social impact in communities while supporting our business operations. This involves close alignment with business units and foundations, co- development of innovative solutions, diligent monitoring of implementation, establishment of robust policies, dissemination of best practices, and cohesive global communication to reinforce EDP brand's commitment to social responsibility. The Regulation, Markets and Stakeholders contributes to the definition of EDP’s strategy and its successful execution by undertaking strategic studies on sector challenges and Group’s portfolio decisions, defining a consistent vision on the evolution of different markets, and proactively identifying and mitigating regulatory and policy risks while ensuring a unified approach to regulatory, policy and stakeholder engagement across the Group. The mission of the Digital is maximize technology value creation at EDP, by setting the global vision and strategy, defining policies and standards, working in partnership with businesses to deliver value-added solutions, providing reliable, agile and secure operations, and pushing forward digital capabilities and ways of working across the group. The mission of People & Organization is define a global strategy for people and organization development, providing an engaging and inclusive experience and enabling the company to face the future challenges of the energy transition. EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 218
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The Procurement advance our organization's success by embracing innovative procurement strategies, sustainable practices, and building resilient supply chains. By leveraging deep supply market insights, cutting-edge digital tools, and fostering strong, ethical supplier partnerships, we empower EDP to not only adapt but also lead in the rapidly evolving energy landscape, ensuring agility and adaptability in all operations. The mission of the Innovation is accelerate new impactful businesses, promote fast adoption of innovative solutions and explore new paths to lead the energy transition. Establish EDP as a Global Innovation leader with a positive impact on the energy transition. The mission of the Communication is define, implement and monitor a Group-wide internal and external communication strategy, ensuring alignment between Regions and Platforms in order to maximize EDP’s reputation through a multi-channel approach which can target different audiences and convey different messages according to global and local needs. The mission of the Brand is increase global awareness and reputation by implementing targeted branding strategies, effective communication campaigns, and engagement initiatives. Enhance the brand attributes among key stakeholders, including customers, investors, partners, communities, and the general public. Ensure brand alignment across regions and platforms for brand campaigns, design services, sponsorships & activation, events, and social media. Deliver global brand services across regions creativity development, digital branding and internal events. Specific EDP Committees (Functional Structures) The EDP organizational model provides for management committees that contribute in two ways to the Company's decision-making process: • the Management Committees result in a set of information to assist the Executive Board of Directors in its decision-making reflecting opinions and information from the areas in the organisation most affected by the proposal in question; • they are management tools used by an Organisational Structure (belonging to a Business Enablement Functions or to a Platform or Region) to support its process of gathering information, aligning, deciding and implementing policies and practices with a transversal impact. On 31 December 2025, the Committees structure configuration was as follows: Corporate Committees Chair No. Meetings Risk Committees Global Risk Committee Miguel Stilwell de Andrade e Rui Teixeira 4 Financial Risk Committee 3 Risk Monitoring Committee 7 Sustainability Committee Rui Teixeira 1 Investment Committee Rui Teixeira 78 Regulation Committee Ana Paula Marques 5 Pension Fund Plan Committee Rui Teixeira 4 People & Organization Committee Miguel Stilwell de Andrade 1 Digital & Tech Committee Ana Paula Marques 2 Safety Committee Ana Paula Marques 3 Corporate Committees Risk Committees The Risk Committees are divided into three: Global Risk Committee, Financial Risk Committee and Risk Monitoring Committee. Jointly, these committees share information on the EDP Group's significant risks, discuss risk assessments, issue recommendations on risk policies and limits, monitor the identification of key risks and approve the periodic reporting model and other monitoring mechanisms. Sustainability Committee The Sustainability Committee is responsible for discussing and issuing opinions on the EDP Group's Environmental, Social and Governance (ESG) strategy, presenting the annual ESG action plan and reporting on its implementation, monitoring the Group's ESG performance indicators and respective benchmarks, and sharing information on key ESG initiatives in different areas. EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 219
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Investment Committee The Investment Committee is responsible for discussing, challenging and issuing opinions on investment and divestment proposals, as well as discussing proposals and updates to the Cost of Capital of EDP and its Business Units. Regulation Committee The Regulation Committee is responsible for monitoring changes in policies and regulations in the energy sector, anticipating impacts on value creation, supporting the Executive Board of Directors with proposals and studies and promoting the exchange of best practices in the countries where the EDP Group operates. Pension Fund Plan Committee The Pension Fund Plan Committee is responsible for sharing relevant information on the management of the Pension Fund, analysing the evolution of assets and the performance of asset managers, monitoring the value of the Fund's liabilities and issuing opinions on changes to the Investment Policy and Member contributions. People & Organization Committee The People & Organisation Committee is responsible for presenting and reporting on the execution of the annual P&O action plan, monitoring key KPIs and initiatives, aligning and promoting global people and organisation management policies and seeking out new opportunities to build a future-proof organisation. Digital & Tech Committee The Digital & Tech Committee is responsible for aligning the Digital and Information Technology strategy, including Information Security, defining and consolidating the global budget for these areas and monitoring the development of the main Digital and Information Technology projects. Safety Committee The Safety Committee is responsible for identifying and issuing recommendations on the EDP Group's health and safety objectives, analysing the Annual Activity Report, evaluating the Activity Plan, monitoring the evolution of the Health & Safety KPIs and issuing opinions on regulatory documents for the Health & Safety management system. Other Structures Ethics Commission The Ethics Commission of EDP has an independent structure from the executive management, including three independent members of the General Supervisory Board, the respective Chairman being simultaneously Chair of the Ethics Committee, and invited members (without voting rights) with certain specific functions, namely the Heads of Ethics & Compliance Officer, People & Organization and Legal & Governance, as well as the respective Secretary. The main mission of this Committee is to independently ensure the monitoring and application of the EDP Code of Ethics, also proceeding with the assessment and deliberation, in accordance with the respective competences, of the matters submitted to it, notably relating the complaints submitted through the Speak Up channels, as well as promoting and supporting the development and implementation of mechanisms for the consolidation of the principles of business ethics in the Group. In 2025, the Ethics Commission held four meetings. Customer Ombudsman The Customer Ombudsman is an impartial and independent entity that has been part of the EDP Group since 2008. Its purpose is to strengthen the customer service policy of EDP Group companies, and it has the following responsibilities: • receive and examine complaints filed by customers or by other complainants and directly related to actions or omissions by EDP Group companies, issuing its opinions; • establish dialogue with the customer and/or complainant; • arbitrate disputes and conflicts between customers or other complainants and EDP Group companies; • issue opinions on matters relating to the activity of EDP Group companies, if requested to do so by any of their corporate bodies; • propose measures to improve quality of service and customer satisfaction; • contact third parties to obtain specialist information so that recommendations can be made to the EDP Group companies on measures to be taken to improve their customer relations. EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 220
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In 2025, EDP implemented a new approach, appointing an Internal Customer Ombudsman for each of the following companies: E-Redes, EDP Comercial and SU Eletricidade, with effect from 1 January 2026. The respective Internal Regulations are available on the websites of each of the companies: Customer Ombudsman Regulations - EDP Comercial, Customer Ombudsman Regulations - E-REDES and Customer Ombudsman Regulations - SU Eletricidade. Branch in Spain EDP, S.A.- Sucursal en España (EDP Spanish Branch) aims to manage and coordinates the energy interests of the EDP Group's dependent subsidiaries in Spain. Its management and supervisory bodies ensure optimisation of synergies and creation of value in operations and activities in Spain. It is also the organisational platform to lead the Iberian integration for support services. In this regard, EDP Spanish Branch owns all the corporate holdings in EDP España, S.A.U., EDP Servicios Financieros España S.A.U. and EDP International Investments & Services, S.L. as well as 71.30% of EDP Renováveis, S.A. share capital. EDP Spanish Branch has offices in Madrid and in Oviedo. It is represented in relations with third parties by permanent representatives, who have been appointed members of the EDP Executive Board of Directors for that purpose. The Branch's steering, coordination, management, and representation structure consists of an Executive Committee and the Support Departments. The Executive Committee is composed of five permanent EDP representatives, the Chairman of the Board of Directors of EDP España, one Corporate General Director (Group Controller for activities in Spain), and the Compliance Director. The support departments are RGA Iberia Hydro & Thermal, RGA Iberia Wind, Solar & Storage, Client Solutions, GEM Iberia, Engineering & Construction, Storage, Financial Planning & Analysis (Iberia), Investment and M&A (Iberia), People & Organization (Iberia), Digital (Iberia), Communication (Iberia), Legal & Governance, Safety, Security & Business Continuity (Iberia), Procurement, Stakeholders & Public Affairs (Iberia), Regional Policy & Regulation Iberia, which ensure and group together, in a homogeneous and transversal way, the functions of the subsidiaries dependent on the EDP Group in Spain. B) Operation 22. Existence and Location where the operating regulations of the General and Supervisory Board and Executive Board of Directors can be consulted The functioning of the General and Supervisory Board and Executive Board of Directors are governed by their Internal Regulation, available on EDP's website, at: Executive Board of Directors Internal Regulation and General and Supervisory Board Internal Regulation 23. Meetings and attendance rate of each member of the General and Supervisory Board and Executive Board of Directors Ordinary meetings of the General and Supervisory Board are held at least once every quarter and extraordinary meeting take place whenever convened by the Chair, on his/her own initiative or at the request of any of its members, the Executive Board of Directors, or its Chair, pursuant to Article 25 (1) of the Articles of Association and Article 20 (1) of the Internal Regulation of the General and Supervisory Board. The General and Supervisory Board met nine times in 2025 and minutes were kept of all the meetings. Information on the attendance of each member of the board is provided in Annex II to this Report. Pursuant to the provisions of Article 21 (1) of the Articles of Association and Article 8 (1) of the Executive Board of Directors Internal Regulation, this body will have ordinarily met at least twice a month, as fortnightly meetings were compulsory. Nevertheless, the Executive Board of Directors meets weekly, as a rule. The Executive Board of Directors met sixty-one times in 2025 and minutes were kept of all the meetings. Information on the attendance of each member of the board is provided in Annex III of this Report. 24. Company bodies with powers to evaluate performance of executive directors The Remuneration Committee of the General and Supervisory Board is responsible for, namely, the annual evaluation of the Executive Board of Directors, considering, among other factors, the fulfilment of the Company's strategy and the previously set goals, plans and budgets for the purpose of considering and determining the variable remuneration of the Chair and of the other members of the Executive Board of Directors. It also evaluates the individual performance of each member of the Executive Board of Directors, in this evaluation the contribution of each member to the mode of operation of this body and the relationship between the various corporate bodies of the Company. Additionally, the General and Supervisory Board evaluates the Executive Board of Directors accordingly with the abovementioned Item 21. 25. Pre-determined criteria for performance evaluation of executive directors These criteria for evaluating the performance of the Members of the Executive Board of Directors are set out in points 69 and 71 of the Corporate Governance Report. EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 221
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26. Positions held at other Group or non-group companies by each member of the General and Supervisory Board and Executive Board of Directors The positions held by members of the General and Supervisory Board and Executive Board of Directors in other EDP Group or non-group companies are shown in Annex I and IV of this Report. C) Committees of the managing or supervisory body 27. Committees set up in the General and Supervisory Board and Executive Board of Directors Without prejudice to maintaining responsibility for exercising its powers as a corporate body, the Internal Regulation of the General and Supervisory Board as well as the provisions of the law and of the Articles of Association regarding the Financial Matters Committee foresee the possibility of establishing specialized committees and monitoring committees, composed of some of its members, without prejudice to its responsibility for the exercise of its duties as a corporate body. These committees may be set up whenever it sees fit and appropriate and have specific duties delegated to them. It should be noted that, in the case of the Financial Matters Committee, the respective existence derives from the law, considering the governance model in force at EDP. The main remit of the permanent and monitoring committees is the specific and continuous monitoring of the matters entrusted to them, in order to ensure informed resolutions by the General and Supervisory Board or provide it with information on certain matters. The committees' activity is coordinated by the Chair of the General and Supervisory Board, who ensures proper articulation of the committees with the plenary board through their chair, who keep him informed by sending notices and the minutes of meetings. The General and Supervisory Board believes that the committees are important to the regular functioning of the Company as they can perform certain delegated duties, especially monitoring the Company's financial information, reflecting on its governance system, assessing the performance of directors, and evaluating its own overall performance. Currently, the General and Supervisory Board has four Specialized Committees: the Financial Matters Committee, the Remuneration Committee, the Corporate Governance and Sustainability Committee, and the United States of America Business Affairs Monitoring Committee. 28. Membership of the executive committee and/or name of managing director(s) Not applicable to EDP's governance model. 29. Duties of each committee and summary of work performed while carrying them out5 A.The Committees of the General and Supervisory Board Financial Matters Committee The Financial Matters Committee is currently made up of four members, three of whom are independent, suitably qualified and experienced, including at least one member with a university degree appropriate to the performance of his duties and knowledge of auditing and accounting, as can be seen from their CVs, which can be found in Annex I to this Report. On 31 December 2025, the Financial Matters Committee members composition as the following: Financial Matters Committee First Appointment Date Gonçalo Nuno Gomes de Andrade Moura Martins - CHAIR 10/04/2024 María José García Beato 10/04/2024 Helena Sofia da Silva Borges Salgado Fonseca Cerveira Pinto 15/04/2021 Victor Roza Fresno 10/04/2024 In accordance with Articles of Association and the Internal Regulation of the Financial Matters Committee and under the applicable law, are assigned to this Committee, by delegation from the General and Supervisory Board, the following powers: • financial matters and financial practices; • sustainability policies, procedures and practices, especially those that have an impact on reporting; • internal audit practices and procedures; EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 222 5 This Item addresses ESRS 2 GOV-1, ESRS 2 GOV-2, and ESRS 2 GOV-5.
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• internal mechanisms and procedures of the Internal Control System for Financial reporting (ICSFR) and the Internal Control System for Sustainability Reporting (ICSSR) ; • matters relating to risk management and control system; • activities and mechanisms of the compliance management system; • activity, including the provision of non-audit services, and independence of the Statutory Auditor (SA)/Society of Chartered Accountants (SROC) of the company; • systems for assessing and resolving conflicts of interest, particularly regarding the Company’s relations with shareholders. The composition, role and functioning of the Financial Matters Committee are in line with the applicable legislation and regulation, including the European Commission Recommendation of 15 February 2005 (2005/162/EC), the European Commission Recommendation of 30 April 2009 (2009/385/EC) as well as the recommendations provided for by the Corporate Governance Code of the Portuguese Institute for Corporate Governance, having the respective Internal Regulation been updated in October 2024. The Finance Committee held fourteen meetings in 2025, as set out in its Activity Plan, addressing the following main topics: the supervision of financial and business information and the monitoring of Internal Audit activities, the Internal Control System for Financial Reporting (ICSFR), the Internal Control System for Sustainability Reporting (ICSSR), the Compliance Management System, and the Risk Management System. In this context, it also monitored and supervised the litigation process, transactions with related parties, the ongoing investment process, the performance of the Pension Fund, the relationship with the Audit, Control and Related Parties Committee of the subsidiary EDP Renováveis, the process of hiring the Statutory Auditor (ROC) for the 2027 financial year, the contractual relationship and the assessment of the objective conditions of the activity and independence of the ROC in relation to the 2025 financial year. Remuneration Committee of the General and Supervisory Board The Remuneration Committee appointed by the General and Supervisory Board, pursuant to Article 28 of EDP’s Articles of Association, submits a proposal for a remuneration policy to the members of the Executive Board of Directors to the approval of the General Shareholders’ Meeting, at least every four years and whenever there is a material change in the currently in force remuneration policy. The mission of this Specialized Committee is to: • prepare and propose the company policy and objectives regarding the Executive Board of Directors Chair’ and Directors’ remuneration determination; • set the Executive Board of Directors Chair’ and Directors’ remuneration; • monitor and assess the Executive Board of Directors Chair’ and Directors’ performance for the purposes of determination of the variable remuneration; • monitor the dissemination of external information on remuneration and the Executive Board of Directors remuneration policy, in particular the Remuneration Report. On 31 December 2025, the Remuneration Committee of the General and Supervisory Board was composed as follows: Remuneration Committee of the General and Supervisory Board First Appointment Date Miguel Espregueira Mendes Pereira Leite - CHAIR 15/04/2021 Fernando Maria Masaveu Herrero 10/04/2024 Gonçalo Nuno Gomes de Andrade Moura Martins 10/04/2024 Sandra Maria Soares Santos 10/04/2024 Zili Shao 15/04/2021 The members of the Remuneration Committee of the General and Supervisory Board Members are mostly independent, pursuant to Article 3 (1) of its Internal Regulations and their Statements of independence are available on EDP’s website. During 2025, and considering its competencies, the Remuneration Committee of the General and Supervisory Board held four meetings, determining the annual variable remuneration for the year 2024 for the members of the Executive Board of Directors and to monitor the suitability of the remuneration policy for the members of the Executive Board of Directors approved at the General Shareholders' Meeting on 10 April 2024. EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 223
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Corporate Governance and Sustainability Committee The Corporate Governance and Sustainability Committee is a specialised committee of the General and Supervisory Board. Its purpose is to permanently monitor and supervise all matters related with the following: • corporate governance; • sustainability in all its dimensions; • internal codes of ethics and conduct; • systems for evaluating and resolving conflicts of interest in relations between the Company and its shareholders, through the analysis of the proposals for remedies regarding situations reported to this Committee by the Financial Matters Committee; • internal proceedings and relationship between the Company and Subsidiary or Group companies and their employees, clients, providers, and remaining stakeholders; • succession plans; • the evaluation process of the General and Supervisory Board and the different Specialized Committees. The Corporate Governance and Sustainability Committee is made up of members of the General and Supervisory Board, the majority of whom are independent, with the appropriate qualifications and experience for their duties. On 31 December 2025, the composition of the Corporate Governance and Sustainability Committee was the following: Corporate Governance and Sustainability Committee First Appointment Date António Bernardo Aranha da Gama Lobo Xavier - CHAIR 10/04/2024 Fernando Maria Masaveu Herrero 15/04/2021 Guobin Qin 10/04/2024 Ignacio Herrero Ruiz 13/12/2018 Lisa Frantzis 10/04/2024 María José García Beato 10/04/2024 Stephen Vaughan 10/04/2024 Considering the competencies of the Corporate Governance and Sustainability Committee, the following topics addressed should be highlighted in the five meetings held in 2025: • Ethics - monitoring of the activities of the Ethics Committee, the Code of Ethics Statute and the Results of the World’s Most Ethical Companies 2024; • The Employee - monitoring of the Climate Study of 2024, the Succession Plans and the Plan for Gender Equality; • Sustainability and Governance - monitoring of the process of calculating, defining and densifying the concept of double materiality, which include comprehensive data on identified material impacts, risks and opportunities and the status of due diligence processes, preparing an opinion on the Corporate Governance Report, and analysing the results of the Dow Jones Sustainability Index (DJSI); • Social - monitoring the strategy and status of key social projects and initiatives being developed by the Social Impact Coordination Office (SICO), aimed at supporting the regions where EDP operates, as well as the PlayItSafe workplace safety program. EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 224
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United States of America Business Affairs Monitoring Committee The mission of the United States of America Business Affairs Monitoring Committee is the monitoring and passing of resolutions on matters related with the activity undertaken by companies wholly or majority held by and/or subsidiary of EDP Group in the United States of America, notably regarding: • strategic/business plans, assessing the different developing scenarios in which they rest and their implementation, including the resources necessary to its execution (human and financial); • annual budget; • investment, divestment, merger, acquisition and restructuring projects of significant value businesses; • financing transactions; • alliances /strategic partnerships entered into, the specific actions deriving therefrom and evolution of counterpart risks; • issuance of prior opinions including in cases of urgency following the requests presented by the Executive Board of Directors; • compliance of the assumed commitments regarding public safety; • performance, risk assessment, value at risk and the respective management. This Committee is further responsible for defining compliance procedures on the obligations assumed by EDP regarding the development of the business of companies wholly or majority held by and/or subsidiary of EDP Group in the United States of America with respect to the General and Supervisory Board activity. The United States of America Business Affairs Committee is composed of members of the General and Supervisory Board, most of whom are independent. On 31 December 2025, the United States of America Business Affairs Monitoring Committee was composed of the following members: United States Of America Business Affairs Monitoring Committee First Appointment Date António Bernardo Aranha da Gama Lobo Xavier - CHAIR 10/04/2024 Alicia Reyes Revuelta 10/04/2024 Lisa Frantzis 10/04/2024 Sandra Maria Soares Santos 10/04/2024 Stephen Vaughan 10/04/2024 Victor Roza Fresno 10/04/2024 In 2025, the United States of America Business Affairs Monitoring Committee held seven meetings, covering, among others, the following matters; • the monitoring of the Business Plan and action strategy of EDP Renováveis in the United States of America; • the ongoing investment and divestment projects at EDPR in the United States of America; • monitoring of the EDP Group's financial information in the United States of America; • business risk analysis in the United States of America; • the status of compliance mechanisms in the United States of America; • monitoring of supply chain strategy and management of EDP Renováveis’ activities in the United States of America; • monitoring EDPR North America's regulatory strategy and the evolution of energy policy and renewables legislation in the United States of America; • monitoring the stakeholder management strategy of EDPR North America; • the company's sustainability strategy in the United States of America; and EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 225
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• monitoring of EDPR North America's 2026 Group Budget. B. Other Corporate Structures Remuneration Committee of the General Shareholders' Meeting The Remuneration Committee elected by the General Shareholders' Meeting is responsible for setting the remuneration of the members of the governing bodies, with the exception of the members of the Executive Board of Directors, in accordance with the proposed remuneration policy to be submitted for approval by the General Shareholders’ Meeting (paragraph d) of number 2 of article 12 of EDP’s Articles of Association). Pursuant to this Article of the Articles of Association, the majority of the members of the Remuneration Committee of the General Shareholders' Meeting must be independent. On 31 December 2025, the Remuneration Committee of the General Shareholders' Meeting had the following composition: Remuneration Committee of the General Shareholders' Meeting Luís Miguel Nogueira Freire Cortes Martins - CHAIR Soledade Carvalho Duarte Maria Manuela Cipriano Messias The Remuneration Committee of the General Shareholders' Meeting held four meetings in 2025. III. Supervision A) Composition 30. The supervisory body EDP's two-tier model has made possible an effective separation between supervision and management of the Company. The General and Supervisory Board is the highest supervisory body. 31. Membership General and Supervisory Board and Financial Matters Committee - effective members and term of office The General and Supervisory Board is currently composed of sixteen members and its composition is identified in Items 17 and 18 of this Report. The duties of the Financial Matters Committee are described in Item 29 of this Report. The Financial Matters Committee is currently made up of four members, three of whom are independent, suitably qualified and experienced, including at least one member with a university degree suitable for the performance of his duties and knowledge of auditing and accounting, as can be seen from their CVs, which, as mentioned above, can be found in Annex I to this Report. Under the terms of article 24 (3) of EDP’s Articles of Association, this Committee is chaired by an independent member. The Financial Matters Committee currently has the following composition: Financial Matters Committee First Appointment Date Gonçalo Nuno Gomes de Andrade Moura Martins - CHAIR 10/04/2024 María José García Beato 10/04/2024 Helena Sofia da Silva Borges Salgado Fonseca Cerveira Pinto 15/04/2021 Victor Roza Fresno 10/04/2024 32. Independent members of the General and Supervisory Board and Financial Matters Committee See item 17 (General and Supervisory Board) and item 31 (Financial Matters Committee) of this Report. 33. Qualifications of members of the General and Supervisory Board and Financial Matters Committee See Annex I of this Report. EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 226
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B) Operation 34. Location at which the operating procedures of the General and Supervisory Board and Financial Matters Committee can be viewed The General and Supervisory Board and the Financial Matters Committee's work is governed by its Internal Regulations, available at EDP's website: Internal Regulation of the Financial Matters Committee and General and Supervisory Board Internal Regulation. 35. Meetings and attendance rate of each member of the General and Supervisory Board Financial Matters Committee During 2025, the General and Supervisory Board and the Financial Matters Committee held nine and fourteen meetings, respectively, and minutes of the respective meetings were drawn up. Information regarding the attendance of members of the General and Supervisory Board and of the aforementioned Committee is described in Annex V of this Report as well as in the Annual Report of the General and Supervisory Board. 36. Positions held in other companies within and outside the Group by each Financial Matters Committee member See Annex I of this Report. C) Powers and Duties 37. Procedures and criteria governing the supervisory body's involvement in hiring additional services from the external auditor The proposal for hiring additional services of the Statutory Auditor is presented by the Executive Board of Directors to the Financial Matters Committee and any contracting requires the prior authorisation of that Committee. Internal Regulation on the Provision of Services by the Statutory Auditor of EDP are in force, in this regard, and the implications on the hiring of additional services are described in item 46. There are other internal regulations adopted by the Executive Board of Directors that ensure all EDP Group companies comply with the rules contained in the referred Internal Regulation. 38. Other duties of the supervisory bodies and, if applicable, of the Financial Matters Committee The duties of the General and Supervisory Board are described in Item 21 as well as in the Annual General and Supervisory Board Report. The duties of the Financial Matters Committee pursuant to the Articles of Association and the Internal Regulation of this Committee are described in item 29 as well as in the Annual General and Supervisory Board Report. IV. Statutory Auditor 39. The statutory auditor and the certified auditor representing it At the General Shareholders’ Meeting held on 10 April 2024, PricewaterhouseCoopers & Associados - Sociedade de Revisores de Contas, Lda., Sociedade Revisor Oficial de Contas number 183, represented by Pedro Miguel Oliveira Vieira de Lima (ROC no. 1835), was re-elected as Statutory Auditor for the three-year period 2024-2026, and on the same date, Carlos José Figueiredo Rodrigues (ROC no. 1737) was elected as Alternate of the Statutory Auditor, to perform duties during the aforementioned three- year period. 40. Number of years for which the statutory auditor has worked consecutively with the company and/or Group The Statutory Auditor PriceWaterHouseCoopers & Associados - Sociedade de Revisores de Contas, Lda. has worked with the Company since 5 April 2018. 41. Other services provided to the company by the statutory auditor The Statutory Auditor is the company body responsible for the examination of the accounting documents. It is elected by the General Shreholders' Meeting for a three-year term, pursuant to Article 26 of EDP’s Articles of Association and Article 446 of the Portuguese Companies Code. According to the Companies Code and the Company’s Articles of Association, the Statutory Auditor is responsible for checking (see Article 446 (3) of the Companies Code): • the regularity of the Company’s books, accounting records and their supporting documents; EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 227
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• the cash and all assets or securities belonging to the company or received by it as guarantees, deposits or for any other purpose, whenever and however it sees fit; • the accuracy of the accounting documents; • whether the company's accounting policies and valuation criteria result in an accurate assessment of its assets and results. A description of the services provided by the Statutory Auditor can be found on item 46. V. External Auditor 42. The external auditor and certified auditor partner representing it Since the General Shareholders‘ Meeting of 5 April 2018, the date of its election at the General Shareholders’ Meeting, EDP's Statutory Auditor has been PriceWaterhouseCoopers & Associados - Sociedade de Revisores de Contas, Lda, having been re-elected for the three-year periods 2021-2023 and 2024-2026, at the General Shareholders' Meetings held on 14 April 2021 and 10 April 2024, respectively, with Pedro Miguel Oliveira Vieira de Lima (Partner) being the partner responsible for the guidance and direct execution of the statutory audit of the EDP Group's accounts since 10 April 2024. PriceWaterHouseCoopers & Associados - Sociedade de Revisores de Contas, Lda is registered before the Portuguese Securities Commission under number 20161485. The Statutory Auditor performs the necessary audit work to ensure the reliability of the financial reporting and credibility of the accounting documents. The Statutory Auditor's duties include checking compliance with remuneration policies and systems, the efficacy of internal control mechanisms and reporting of any significant deficiencies to the General and Supervisory Board. EDP takes measures specifically aimed at ensuring the independence of the Statutory Auditor, in view of the scope of services provided by audit firms. 43. Number of years for which the external auditor and certified auditor partner representing it have worked consecutively with the company and/or group EDP's Statutory Auditor is PricewaterhouseCoopers & Associados - Sociedade de Revisores de Contas, Lda., since its election on 5 April 2018, with re-elections at the General Meetings of 14 April 2021 and 10 April 2024, with Pedro Miguel Oliveira Vieira de Lima as partner in charge since 10 April 2024, for the 2024-2026 mandate. 44. Policy on and frequency of rotation of external auditor and certified auditor partner representing it The rotation of the Statutory Auditor and certified auditor partner representing it depends on the strict assessment by the Financial Matters Committee of the independence and quality of the work done and consideration of the independence of the Statutory Auditor and the advantages and costs of replacing them. Considering the rules referring to the mandatory rotation of the Statutory Auditor, pursuant to Article 54 (3)(4) of the By-Laws of the Association of the Statutory Auditors, and the fact that the mandate of KPMG has terminated on 31 December 2017, such rotation was fulfilled for the service provision of Statutory Auditor and Statutory Auditor for the triennium of 2018-2020. In this sense, and under a Financial Matters Committee proposal, the General and Supervisory Board resolved to launch a consultation process in order to select the Statutory Auditor of EDP Group for the 2018-2020 mandate, as well as to create two specific Committees to develop the consultation process, specifically, (i) Monitoring and Analysis Committee, with the purpose of monitoring the tender process and analysing the proposals, as well as to prepare a summary of the respective conclusions, to report to the Assessment Committee and (ii) Assessment Committee , with the aim of assessing the results presented by the Monitoring and Analysis Committee and preparing a proposal to the Financial Matters Committee. From the work performed and from the assessment conducted to the presented proposals, both accomplished with autonomy and without third parties influence, two proposals were selected in accordance with the selection criteria identified in the consultancy program which were presented to the General Shareholders' Meeting, which took place on 5 April 2018, having been elected PricewaterhouseCoopers & Associados - Sociedade de Revisores de Contas, Lda as statutory audit for the 2018-2020 triennium. To the extent that PricewaterhouseCoopers & Associados - Sociedade de Revisores de Contas, Lda. was elected for the mandate corresponding to the 2018-2020 term, in the second half of 2020, the General and Supervisory Board and the Financial Matters Committee started preparing the process for the presentation, at the 2021 Annual General Shareholders’ Meeting, of a proposal for the re-election of the EDP statutory auditor for the 2021-2023 triennium. EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 228
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Such work was carried out by the Financial Matters Committee, under the delegation granted by the General and Supervisory Board. This work is concluded, and considering that, according to paragraphs 3 and 4 of article 54 of the Statute of the Order of Statutory Auditors, in publicly traded entities the maximum period of exercise of statutory audit functions by the statutory auditor accounts is for two or three terms, depending on whether they are, respectively, four or three years, the referred Committee submitted to the supervisory body the presentation, to the EDP 2021 General Shareholders' Meeting, of a proposal for the renewal of PricewaterHouseCoopers & Associados - Sociedade de Revisores de Contas, Lda to the position of EDP's statutory auditor for the term corresponding to the 2021-2023 triennium. The General and Supervisory Board approved the proposal for the reappointment of PriceWaterhouseCoopers & Associados - Sociedade de Revisores de Contas, Lda to the position of Statutory Auditor at EDP for the 2021-2023 period at the meeting held on 26 November 2020 which was submitted by the General and Supervisory Board and approved at the General Shareholders’ Meeting held on 14 April 2021. PricewaterhouseCoopers & Associados - Sociedade de Revisores de Contas, Lda. having been elected for the 2021-2023 term, in the second half of 2023, the General and Supervisory Board and the Financial Matters Committee began preparing the process for the presentation, at the 2024 Annual Shareholders' Meeting, of a proposal for the re-election of EDP's Statutory Auditor for the 2024-2026 term. This work was carried out by the Financial Matters Committee, under the delegation conferred by the General and Supervisory Board, with the collaboration of the Audit, Control and Related Parties Committee of EDP Renováveis and the Audit Committee of EDP Energias do Brasil. Once this work has been completed, and considering that, in accordance with paragraphs 3 and 4 of article 54 of the Statute of the Portuguese Institute of Statutory Auditors, the maximum period for which the Statutory Auditor may carry out statutory audits in public interest organisations is two or three terms, depending on whether they are Following the conclusion of this work, and considering that, in accordance with paragraphs 3 and 4 of article 54 of the Statute of the Portuguese Institute of Statutory Auditors, in public interest entities the maximum period for the exercise of statutory audit functions by the Statutory Auditor is two or three terms of office, depending on whether they are four or three years respectively, the Financial Matters Committee, at the beginning of 2024, submitted a proposal to the supervisory body for the re-election of EDP's Statutory Auditor for the three-year term 2024-2026. The General and Supervisory Board approved this proposal at its meeting held on 29 February 2024, and the Annual General Meeting held on 10 April 2024 approved the proposal submitted by the General and Supervisory Board for the reappointment of PriceWaterhouseCoopers & Associados - Sociedade de Revisores de Contas, Lda. as EDP's Statutory Auditor for the three-year period 2024-2026, with Pedro Miguel Oliveira Vieira de Lima as the partner responsible. 45. Body responsible for assessing the external auditor and frequency of assessment The Financial Matters Committee presents annually to the General and Supervisory Board the report on the assessment of the activity and independence of the EDP’s Statutory Auditor. The result of the appreciation is published in the report of the General and Supervisory Board. 46. Non-Audit Services done by the external auditor for the company and/or subsidiaries and internal procedures for approving hiring of these services and reasons for hiring them Proposals to hire non-audit services from the Statutory Auditor are presented by the Executive Board of Directors to the Financial Matters Committee and their hiring requires prior authorisation from this Committee. The Regulation on Services Provided by EDP's Statutory Auditor and Statutory Auditor determines, regarding the contracting of non-audit services, that the Financial Matters Committee may deny authorisation of those services if one such service is prohibited and/or involves a possible threat to the independence of the Statutory Auditor. The above-mentioned regulations are available on the EDP’s website: Regulations on Provision of Services by Statutory Auditor/Statutory Auditor Company | edp.com In 2025, the following services were performed by the Statutory Auditor: Audit services and statutory audit: • necessary services (including internal control procedures required as part of audits) for the issue of the Auditor's annual on the accounts; • services required for compliance with local legislation (including internal control procedures required as part of audits) for the issue of the Legal Accounts Certifications. Other assurance of reliability services: Services with a specific or limited purpose or scope, namely: • necessary services for the issue of the interim reports and quarterly information on the accounts; EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 229
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• assurance of reliability on the Internal Control System on Financial Reporting; • assurance of reliability on the Sustainability information; • assurance of reliability on the financial information of regulated activities; • agreed upon procedures on the financial information prepared by EDP for application purposes; • comfort letters issuance; • verification of the 2024 Green Bond Report information for alignment with the EDP Green Bond Framework, for disclosure in the 2024 Integrated Report; • agreed-upon procedures for confirming the connection capacity of power generation centres to verify the exemption from social tariff financing, in accordance with the criteria mentioned in Article 199-A, 1st paragraph of the Decree-Law No. 104/2023, of 17 November, as of 31 December 2024; • issuance of verification reports on the supporting documents of expenses for the projects: IPCEI Hy2USE “Ver-Amonia”, “Asturias H2 Valley” (IPCEI Hy2USE) and “Green H2 Los Barrios”, including validation of the costs incurred under the Spanish IPCEI projects; • issuance oftax compliance reports in Greece, in accordance with the provisions of Article 78 of Greek Law 5104/2024 (Greek Tax Procedure Code). Other services: • preparation of a technical memorandum on component certification, assessing the purchase price and the percentage of domestic content of the BESS system components, in accordance with the Domestic Content Requirements established in the Inflation Reduction Act and the applicable regulatory guidance; • access to a repository of international accounting standards as well as to the PwC Accounting Manual in digital version. The reasons for hiring these services were essentially related with (i) better understanding of the Group's business, ensuring appropriate knowledge of the relevant information, which promotes greater agility and efficiency in providing solutions and (ii) it was considered that the hiring of such services was not considered a threat to the independence of the Statutory Auditor and did not foster any situation of personal interest in relation to the guarantee of independence given by the Statutory Auditor. The services that are not related with Audit and statutory audit of accounts requested by Group entities to the Statutory Auditor and to other entities belonging to the same network, in the different geographies, amounted to 2,187,184 Euro. 47. Annual remuneration paid by the company and/or subsidiary or group companies to the auditor and other natural or legal persons belonging to the same network and breakdown of percentage for the following services: PricewaterhouseCoopers - Sociedade de Revisores Oficiais de Contas, Lda. and its network (PwC) are responsible for conducting an independent External Audit of all the EDP Group companies in Portugal, Spain, Brazil and USA, as well as in other countries in which the Group operates. EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 230
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In 2025, the recognised, specialised costs of the fees of PwC for audit and statutory audit of accounts, other assurance of reliability services and other services than auditing for Portugal, Spain, Brazil, United States of America, and other countries were as follows: PwC Euros Portugal Spain Brazil USA Other Countries Total Audit and statutory audit of accounts 3,258,530 1,528,828 785,028 2,777,670 1,743,677 10,093,733 82% Other assurance of reliability services (*) 1,387,935 409,906 283,508 - 24,564 2,105,913 17% Total of audit and assurance of reliability services 4,646,465 1,938,734 1,068,536 2,777,670 1,768,241 12,199,646 Tax consultancy services - - - - - - Other services 7,620 2,312 - 71,339 - 81,271 1% Total of other services 7,620 2,312 - 71,339 - 81,271 Total 4,654,085 38% 1,941,046 16% 1,068,536 9% 2,849,009 23% 1,768,241 14% 12,280,917 100% (*) Includes assurance of reliability services of the exclusive competence and responsibility of the Statutory Auditor and Statutory Auditor in accordance with the Regulations on Provision of Services by Statutory Auditor or Statutory Auditing Company approved by the General and Supervisory Board. The audit and statutory audit of accounts in Portugal include 1,350,590 Euro related with statutory audit fees, on a company and in consolidated basis, of EDP, S.A. Services other than Audit and Legal Review of Accounts requested by Group companies from the External Auditor and other entities belonging to the same network, amounted to 2,187,184 Euros. EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 231
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C. Internal Organisation I. Articles of Association 48. Rules on amendments to the company’s Articles of Association EDP's Articles of Association do not set forth special rules on their amendment and the general rule set out in Article 386 (3) of the Companies Code therefore applies, i.e., decisions to amend the Articles of Association must be approved at a General Shareholders' Meeting by two-thirds of the votes cast. EDP's Articles of Association may also be amended under the powers of the Executive Board of Directors to move EDP's registered office (Article 2 (1) of EDP's Articles of Association) and increase EDP's share capital (Article 4 (3) and (4) of EDP's Articles of Association) provided that a favourable prior opinion of the General and Supervisory Board is obtained (article 18 (2) (g) EDP's Articles of Association). II. Whistleblowing 49. Whistleblowing policy and channels The EDP Group has long been guided by principles of trust and transparency, both in the way it conducts its activity and in its relationship with various stakeholders. These principals are clearly expressed through the Code of Ethics, established in 2005, and the Integrity Policy. Among these principles of trust and transparency are the reporting channels for alleged unethical and/or illegal behaviour, accessible to all stakeholders whenever they believe that the company's ethical and integrity principles may be at risk. The implemented whistleblowing management system is based on fundamental principles that guide all stage of the process, such as independence, impartiality, and objectivity in the analysis and handling of registered cases, along with the guarantee of confidentiality. Complaints can also be reported anonymously, and even under this condition, interaction with the whistleblower is ensured whenever deemed necessary. EDP ensures the protection and non-discrimination of whistleblowers who make their communications, reports, or complaints in good faith and on a well-reasoned basis, even if the reported facts are not precise or do not lead to any disciplinary or judicial process. Acts of retaliation,whether direct or indirect, motivated by a report and causing or potentially causing unjustified harm to the whistleblower, are not tolerated. EDP provides access to the Speak Up channels, through its website, as well as to the respective Whistleblowing Management Policy, Information on this channel and policy can be found on the Speak Up page at EDP website. The Ethics Commission of EDP plays a essential role in the functioning of this system, being responsible for analyzing and deliberating on received reports, as well as promoting principles of business ethics. This Commission is composed of qualified and independent members who act with impartiality and rigour, ensuring compliance with the Code of Ethics and internal standards. Information regarding reports received by the Ethics Commission in 2025 can be found in the Annexes to the Integrated Annual Report under "Other Indicators". III. Internal Control and Risk Management 50. People, bodies, or committees responsible for internal audits or implementation of internal control systems The EDP Group establishes its internal control systems in coordination with the risk management model structured in accordance with the “three lines of defence” model, ensuring a segregation of responsibilities between operational management, supervision and independent assurance functions, promoting an integrated and consistent approach to the identification, assessment, mitigation and monitoring of risks. This model also contributes to optimizing resources and efforts, promotes coordination across functions and standardizes the language, connecting all Regions, Platforms, Business Enablement Functions, and Global Business Services through a common infrastructure based on shared processes and information systems. It facilitates the harmonization of guidelines and methodologies across the organization and different regulatory frameworks, ensuring alignment with internal policies and procedures and fostering the continuous improvement of the actions developed.. Specifically, within the scope of the 2nd line of defense, Ethics & Compliance mission is to promote a culture of ethics and compliance based on the highest ethical standards, identifying relevant ethics and compliance risks and coordinating the implementation of control mechanisms that ensure such culture and mitigate inherent risks. Ethics & Compliance is responsible for supporting the business in the identification, analysis, assessment, mitigation and monitoring of risks, in addition to challenging and questioning potential risks that may emerge. Ethics & Compliance proactively and systematically advices the organization, namely regarding policies and instruments for managing business ethics. The Ethics & Compliance Management System is based on three fundamental pillars: prevention, detection and response, supported by eight components: Prevention: 1. Identification, analysis and assessment of ethics and compliance risks; 2. Promotion and coordination of the implementation of policies, procedures, and other control mechanisms, in order to mitigate the identified risks; EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 232
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3. Development of training and communication initiatives on ethics and compliance risks and controls; Detection: 4. Monitoring the implementation of procedures and other ethics and compliance mechanisms adopted, in order to assess the maintenance of their adequacy and effectiveness; 5. Whistleblowing management system; 6. Internal and/or external audits Response: 7. Implementation of improvement opportunities identified in the components of the monitoring pillar; 8. Continuous improvement, ongoing assessment of risks and controls. The assessment carried out allows the identification of legal requirements and others compliance obligations, as well as relevant regulatory frameworks for the organization, serving as the basis for creating and developing different Specific Compliance Programs (SCPs) through a process that includes sequential phases: (i) planning, (ii) conceptual structuring and design, (iii) implementation support; (iv) implementation monitoring and (v) ongoing maintenance and continuous improvement. For each Specific Compliance Program, following the methodological defined by the Compliance Management System and based on the identification and assessment of specific risks, policies, procedures, and other compliance mechanisms are developed. These policies, procedures and mechanisms formalize fundamental principles of compliance management and detail the rules and control mechanisms implemented, reflecting on activities developed internally or by third parties on behalf of EDP, and constitute key elements for disseminating a compliance culture throughout the Group. Ethics & Compliance ensures monitoring and follow-up of the development, operation, and implementation of the Specific Compliance Programs. According to its annual activity plan, Internal Audit conducts specific audits that include topics related to ethics compliance. Additionally, the Compliance Management System and some Specific Compliance Programs are also subject to independent external audit. The results of the monitoring, as well as any recommendations arising from internal or external audits, are incorporated into the continuous improvement process, aiming to enhance compliance management. In the exercise of its duties, Ethics & Compliance reports hierarchically to the Chair of the Executive Board of Directors and functionally to the General and Supervisory Board, through its Financial Matters Committee. The Executive Board of Directors establishes a culture of tone at the top in ethics and compliance matters, approving, disseminating, and ensuring the implementation of EDP's Compliance Management System in line with the Group's strategic objectives. The General and Supervisory Board monitors and supervises the implementation of this culture, approving, through the Financial Matters Committee, the Ethics & Compliance activity plan and ensuring its execution. The EDP Group has adopted a model to structure its Compliance Management System, approved by the Executive Board of Directors and by the Financial Matters Committee, formalized in the EDP’s Compliance Standard, updated in 2024. This system is aligned with international best practices, and EDP has obtained certification in accordance with ISO 37301:2021 - Compliance Management Systems. The Compliance Management System reflects the EDP Group’s commitment to ensuring: (i) adequate identification, assessment, and management of non-compliance risks, minimizing the risk of sanctions, including financial penalties, as well as operational and reputational impacts; (ii) trust of its stakeholders, strengthening the EDP Group's competitiveness. From the established governance model, and with the objective of identifying, assessing, monitoring, and controlling the risks to which the EDP Group is exposed, in addition to the Ethics & Compliance, the Risk and the Internal Audit also play an important role. The Risk is primarily responsible for coordinating risk assessment studies for the Group, with the aim of supporting the Executive Board of Directors in their control and mitigation and providing integrated risk-return analyses, as presented the respective chapter, which activity is detailed in items 52 to 54 of this Annual Report. In turn, internal audit function, formalised in the EDP Group Internal Audit Charter, approved in 2025, aims to strengthen the EDP Group's ability to create, protect and sustain value by providing the governing bodies and the organisation with independent assurance, advice, insight and forecasting based on risk and objectives. The Internal Audit aims to improve the organisation, particularly in terms of successfully achieving its objectives, governance processes, risk management and control, decision-making and supervision, reputation and credibility with stakeholders, and the ability to serve the public interest. The Internal Audit is a corporate function performed by the EDP Group's Internal Audit, which report both functionally to the General and Supervisory Board thought the Financial Matters Committee, to which reports on its activities, and administratively to the Chair of the Executive Board of Directors. Internal Audit has teams in Portugal, Spain, United States of America, Brazil and Singapore. EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 233
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Regarding the areas that make up the Internal Audit, although each area has (Business and Digital) its specific duties, multidisciplinary and the growing interaction between the audit teams have allowed synergies in the analysis of information and data extracted from computer systems to support business processes and, therefore, a better quality of the conclusions obtained, a closer proximity to the business and an increasing monitoring of the degree of evolution of the projects most relevant. On the other hand, Internal Audit commitment to quality and the continuous improvement of the processes and activities it carries out led to the creation of the Quality & Continuous Improvement Office, which, in a fundamentally methodological aspect, ensures an internal service with a view to increasing value added in relation to the internal audit activity in the EDP Group. The Internal Audit, as well as all professionals assigned to this function, govern their activities by the principles and standards established in Domain II: Ethics and Professionalism, of the Global Internal Audit Standards approved by The Institute of Internal Auditors (IIA), which include the fundamental principles for the profession and practice of internal auditing and standards of conduct that define the expected behaviour of internal auditors, guiding the practical application of the principles and serving as a guide for ethical and professional conduct. Similarly, all Internal Audit employees also follow the EDP Group's Code of Ethics, whose main principles are compliance with current legislation and regulations, integrity, respect for human and labour rights, transparency, and social and corporate responsibility. EDP Group has internal auditors experienced in several areas (e.g., finance, accounting, audit, information systems), with a deep knowledge of the Group, allowing a multipurpose and transversal analysis of the issues in question and of the activities carried out. In addition to specific training and experience in the area, the employees assigned to the Digital area know the systems implemented in the Group and follow market trends, allowing them to obtain a broad view of the systems and processes with the greatest technological risk. and of greater relevance for the different Platforms and Regions. The internal audit activities are developed based on plans aligned with the objectives and mission of the function, in which the audit works that comprise them is based on a documented assessment of the strategies, objectives and risks faced by the Company, which is fundamental to achieving the EDP Group's objectives. One of the pillars of its construction is the identification and characterisation of the auditable universe, which includes all processes carried out by the EDP Group, allowing those with the highest perceived risk to be prioritised. In addition, the Plan is optimised through interactions with corporate bodies, the collection of key audit proposals and consideration of controls implemented by the EDP Group's second lines. Internal Audit also considers relevant legislation and regulations, as well as emerging trends in the field of auditing, ensuring that activities are aligned with the EDP Group's needs and objectives. The nature of the services provided is divided into assurance services and advisory services. On the one hand, assurance relates to the performance of audits, taking into account the Group's strategic objectives, the specificity or criticality of the activity or business and the applicable regulatory framework, as well as the performance of special work requested by different organisational units of the Group, which fall within this scope. On the other hand, advisory services are performed at the specific request of the governing bodies and consist of advisory activities and related services intended to add value and improve the Group's governance, risk management and control processes, without the internal auditor assuming any management responsibility. The changing macroeconomic, social, and political context, as well as the growing technological transformations and the news and changes that have been affecting the energy sector in general and the EDP Group in particular have forced a constant adaptation of the internal audit activity in order to maintain an ability to respond adequately to the challenges ahead, aiming to maximize the added value that this activity can and should offer to its stakeholders. Internal Audit has been monitoring the extent and development of the Group's activity in new markets, business lines and geographies, incorporating in its business plan, actions aimed at evaluating and reinforcing the existing internal control environment. The continuous auditing model has evolved consistently, consolidating the methodology, continuing existing audits, implementing new audits to evaluate different business areas, some with real-time analysis, with a set of new indicators and automation of communication exceptions to the audited entity at the time they are detected. It is a robust monitoring and evaluation model, very relevant for the automatic processing of a high volume of data, allowing to obtain efficiency gains in terms of internal control and in the prevention and detection of irregularities. Within the scope of Digital audits, actions have been carried out covering several areas of high criticality, considering, in particular, the digitization program underway at the EDP Group, which has been a lever for strengthening and growing business processes, the increase in processes/activities analysed by continuous auditing and the expansion of routine automation in order to speed up the monitoring of the Group's information systems. In recent years, the existing competencies in the field of information systems and data analytics have been strengthened by recruiting employees who are specialists in these matters in an internal audit perspective, complementing the profiles already existing in the Business and Digital audit teams. Internal Audit, as a non-executive function, does not intervene in the management decision-making processes of the EDP Group's activities. It also maintains an independent and objective relationship with the Platforms, Regions, Business Enablement Functions, Global Business Functions and other structures that are the focus of its work, with no hierarchical or functional link to them.The relationship with the various stakeholders is developed, mainly, through periodic meetings with the Financial Matters Committee and with the members of the Executive Board of EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 234
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Directors, interactions with first-line business leaders, audited areas, and other areas of the Group, such as Risk, IR&ESG, Legal & Governance, People & Organization, Regulation, Markets and Stakeholders, Strategy and M&A, Financial Planning & Analysis, Ethics & Compliance, Digital, in order to identify risk areas and to ensure the update on the various matters of the organization. Internal Audit has an internal quality assessment methodology that is divided into two essential components that ensure Internal Audit compliance and performance, in line with the best practices established by the Global Internal Audit Standards: (i) continuous monitoring and (ii) self-assessment. Continuous monitoring aims to ensure compliance with the Internal Audit Charter and the defined methodologies and procedures, ensuring that the internal audit function operates in accordance with established standards. The self-assessment process consists of a comprehensive reflection and analysis of the structure, competencies, relationships and independence, reporting, methodologies and work carried out throughout the year, and an analysis of compliance with the Global Internal Audit Standards. On the other hand, the Financial Matters Committee assesses the activity and performance of Internal Audit, as well as the adequacy of its human and technical resources. Internal Audit activity has been subject to external evaluations since 2010 by the IIA (every 5 years, as established in the Global Internal Audit Standards). In 2025, the external assessment conducted under the Global Internal Audit Standards, which came into force on 9 January 2025, once again awarded the internal audit function the highest rating conferred by the IIA, confirming that it "Full Achievement" with the Global Internal Audit Standards issued by the IIA. It is also worth mentioning, and in line with the information described above, the competence of the General and Supervisory Board, which, under legal terms, permanently monitors and evaluates the internal procedures related to accounting and auditing matters, as well as the effectiveness of the risk, the internal control and the compliance management system. This competence is attributed to the Financial Matters Committee, which is responsible, among other tasks, for permanently monitoring and supervising: (i) financial matters and accounting practices; (ii) internal audit practices and procedures; (iii) the internal mechanisms and procedures of the Internal Control over Financial Reporting System (SCIRF); (iv) matters relating to the risk management and control system; (v) the activities and mechanisms of the compliance management system and (vi) the activity and independence of the company’s Statutory Auditor. 51. Description of hierarchical and/or functional dependency on other company bodies or committees In the performance of their duties, the Internal Audit administratively reports to the Chair of the Executive Board of Directors and functionally reports to the General and Supervisory Board that supervises its activity through the Financial Matters Committee. In turn, Ethics & Compliance reports hierarchically to the Executive Board of Directors, and functionally to the General and Supervisory Board through the Financial Matters Committee. Risk reports hierarchically to the Executive Board of Directors, without prejudice to the permanent monitoring, by the Financial Matters Committee, of risk-related matters, as described in item 52 below. 52. Other company areas with risk control duties Risk management is an integral part of business management and is everyone's responsibility, from the Executive Board of Directors down to the individual employee. Everyone is responsible for being aware of the risks in their area of activity and managing a way that is integrated with their roles, competences and delegated responsibilities. The EDP Group manages its significant risks from a portfolio perspective, optimizing the risk-return ratio across all its business areas, with a view to create value and standing out in the markets in which it operates. The EDP Group also endeavours to constantly improve its risk management to reflect the evolution of its needs and to keep in line with the best international risk management practices. The integration of risk management into the most relevant business and decision-making processes is promoted, as a component of (i) strategic development, (ii) investment decisions, (iii) the business plan and (iv) operations management, with the purpose of ensuring stable results and optimising the capacity to respond to changes in context and opportunities. The risk management process is structured around three lines of defence (business, risk management/ compliance and internal and external auditing), each conducted independently and ensuring an adequate degree of segregation from the others. The functions of identifying, analysing, assessing, treating, and monitoring risk are overseen by a set of bodies with clearly established roles and responsibilities, typified by the Group's policies, which are approved and ratified by the competent bodies. Below are brief descriptions of these bodies, complemented by the responsibilities available on EDP's website: EDP's Risk Governance Model | edp.com: • The General and Supervisory Board, in particular the Financial Matters Committee, is responsible for permanently monitoring the effectiveness of the risk management system, namely in terms of risk identification, assessment, control and management and assessing the degree of internal compliance with the Company's risk management system, continuously monitoring its performance and effectiveness, in articulation with the Executive Board of Directors, namely the risk control policies, the identification of key risk indicators (KRI) and the integrated risk evaluation methodologies, and must evaluate and issue its opinion on the EDP Group's strategic guidelines and corporate risk management policy, prior to their final EDP Integrated Annual Report 2025 Corporate Governance | Part 1. 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approval by the Executive Board of Directors. The Financial Matters Committee defines in its annual planning sessions dedicated to risk management issues, in order to monitor the evolution of the Group's main exposures and Key Risk Indicators, as well as to address issues related to financial, strategic, ESG, business and operational risks. • The Executive Board of Directors is ultimately responsible for the decision, supervising and controlling risk management, and is responsible for setting the EDP Group's management objectives and policies. In addition to sharing the responsibilities defined for the Boards of Directors, it is also responsible for defining the Risk Appetite set out in the Business Plan, defining the EDP Group's risk policies (in particular, the respective exposure limits by risk category) and for allocating resources in accordance with the risk-return profile of the various options available. • The Risk Business Enablement Function (BEF) headed by the Chief Risk Officer, performs a function that is independent from the conduct of business, and supports the Executive Board of Directors and remaining management bodies at the level of the second line of defence. The Risk Business Enablement Function is divided between: • The Risk Centres of Excellence (CoE) the Corporate CoE is responsible for the Enterprise Risk Management, for the analysis and overview of the strategic risks, for the aggregation of the full EDP risks and the external risk reporting; the Financial CoE is responsible for the management of the financial risks, defining the insurance strategy and developing risk analysis for new investments, and; the Counterparty CoE is responsible for counterparty risk management, including the analysis and establishment of limits for the acceptance of new contracts. • The Platform Business Partners, which play the main role in operationalising risk management and are under the direct hierarchical dependence of both the Group's Chief Risk Officer and of the respective Platform Management Team, acting in a segregated manner and independent from the conduct of the business. • The risk-owners of the Platforms, Regions and Business Enablement Functions are all the business managers who assume risk in their day-to-day activities and act in accordance with the defined risk strategies. Furthermore, there are a number of regular forums for debating, analysing and issuing opinions on risk issues: • The Global Risk Committee's main objective is to support the decisions of the Executive Board of Directors in identifying, analysing, assessing, treating and monitoring risk. New policies and risk limits or update of those are discussed and approved in this forum. This Committee meets on a quarterly basis. The Committee is made up of the main decision-makers and those responsible for the Group's recurrent risk management (members of the Executive Board of Directors, regional and platform heads, key corporate areas and members with responsibility for risk management of the main Platforms/Regions). • The Financial Risk Committee main objective is to review main financial risks and discuss the execution of mitigation strategies. Exchange rate risk, interest rate risk, liquidity risk, commodities risk and credit risk from financial counterparties are most relevant risks reviewed in this committee. Additionally, an overview of the risk assessments developed for the new investments is also discussed. This Committee meets on a quarterly basis. The Committee is made up of the main finance decision-makers and those responsible for the Group's recurrent financial risk management (members of the Executive Board of Directors, regional and platform heads, key Finance team members, key corporate areas and members with responsibility for risk management of the main Platforms/Regions). • The Risk Monitoring Committee meets quarterly to provide an overview of the most relevant risk exposures, namely growth execution risk, energy market risk, regulatory risk, operational and counterparty risk. Additionally, a status of all risk limits is provided, focusing on the exposures that are beyond the limit and/or that had relevant changes. The Committee is made up of the main decision-makers and those responsible for the Group's recurrent risk management (members of the Executive Board of Directors, regional and platform heads, key corporate areas and members with responsibility for risk management of the main Platforms/ Regions). • The Platform Risk Committees are set up and carried out at the level of the Group's Platforms when the structure of the Platform and the degree of complexity of risk management justifies it, assuming a structure replicated from the Group’s Risk Committee. These Committees are typically coordinated by the respective Risk Business Partner and are attended by members of the Platform Management Team, key areas of the Platform, as well as the Chief Risk Officer, to ensure alignment at Group level. 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53. Identification of the main types of risks to which the company is exposed in the course of its business The EDP Group's risk taxonomy aggregates, from an integrated perspective and in a common language, the various risk mappings existing at the level of the Group's various Business Partners, and is structured around five large families: Strategic & ESG, Energy Business, Financial, Counterparty and Operational. The figure below shows the risk categories to which EDP is exposed. Further details on the various risks to which EDP is subject, which fall into these categories, are available on the EDP website: EDP Risk Taxonomy | edp.com EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 237 1. Strategic & ESG 2. Energy Business 3. Financial 4. Counterparty 5. Operational 1.1 Strategic 2.1 Energy markets 3.1 Financial markets 4.1 Credit and Operational 5.1 Physical assets 5.2 Execution of Processes Country risk Power and energy Exchange rate Energy Assets under Transactions Supply Chain commodities Interest rate Retail development Registration Technological disruption Energy demand Inflation DG Assets under construction Modelling Competitive paradigm Generation volume Financial assets Centralized gen. PPA Delay in COD Delays change 2.2 Regulation Non-energy commodities Energy Management Capex overrun Communication to Investment decision Sector regulation 3.2 Credit Suppliers & Developers Assets in operation stakeholders Growth delivery Non-sector regulation Capital gains Financial institutions Damages and losses 5.3 Systems 1.2 ESG Proceeds Banking Damages to 3rd parties Systems in development Environmental 3.3 Liquidity Insurance Operational Systems in operation Climate Change Credit Rating metrics 4.2 Integrity performance Confidentiality Nature Loss Funding Suppliers & Asset decommissioning Integrity Circular economy 3.4 Social liabilities Service Providers Availability Governance Pension fund Business Partnerships 5.4 Legal & Compliance Corporate Governance Other liabilities Others Legal Employees’ Misuse Compliance of Resources Social People Product & Service Liability Communities & Social Reputation & Communication
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54. The risk management process at EDP Given the size of the EDP Group and its geographical diversity, it is important to define a transversal and consistent process at the level of the various Platforms and Regions, which at the same time recognises the heterogeneity of the businesses and activities in which the Group operates. In this way, risk management in the EDP Group is structured around five main phases (identification, analysis, evaluation, treatment, and monitoring), complemented by a prior phase of establishing the context, and by adequate levels of communication between the various stakeholders: More details on each of the stages of the risk management process can be found on EDP's website: EDP's Risk Management Process | edp.com. 55. Main features of the risk management and internal control systems in place in the company for the disclosure of financial information6 EDP Group has implemented the Internal Control System of Financial Reporting (ICFR), based on criteria established by the regulatory framework of internal control issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO 2013), in relation to business processes and global controls, and the Control Objectives for Information and Related Technologies (COBIT), in relation to the general controls of information technology. According to the adopted methodology and the Internal Control System of Financial Reporting Standard, activities were carried out related to the implementation, maintenance, monitoring and assessment of the internal control system, within the competence of those responsible that participate in the EDP Group. It is highlighted the development of the following activities: • Planning and monitoring the annual ICFR cycle, maintenance and review of reference models, conceptual and methodological support to Regions, Platforms, Business Enablement Functions and Global Business Services; • Defining ICFR Scoping Model based in the consolidated financial information, supported on materiality and risk criteria on a "top down" approach (Ethics & Compliance) and "bottom up" approach (Regions, Platforms, Business Enablement Functions and Global Business Services) on annually basis and mid-year review, from which the relevant processes are identified; • Support to Regions, Platforms, Business Enablement Functions and Global Business Services in the documentation and review of new controls and/or redesign of the existing, as well as in the identification, review and appointment of ICFR responsibles, resulting from the inclusion of new topics, by materiality and/or risk, and legal, structural, procedural and/or accounting changes; • Identification of relevant Information Systems that supports ICFR and analysis of "service organizations", for monitoring the issuance of the ISAE 3402 (International Standard on Assurance Engagements), reports corresponding to an independent assessment of the control environment used by information technology service providers for EDP Group; • Monitoring and support provided to Regions, Platforms, Business Enablement Functions and Global Business Services in the resolution of identified non-compliances and improvement opportunities and reporting to internal responsibles and supervisors; EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 238 6 This Item addresses ESRS 2 GOV-1 and ESRS 2 GOV-3.
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• Launch and monitoring of the self-certification process, through which those responsible for internal control declare their explicit recognition of (i) sufficiency or insufficiency of the controls documentation in terms of updating and adjustment, (ii) its execution and maintenance of evidence, (iii) actions approval and implementation related to the resolution of non-compliance and improvement opportunities and (iv) compliance with the Code of Ethics and the Integrity Policy of EDP Group; • Monitoring of the annually assessment process conducted by the Statutory Auditor, in terms of work planning and interactions with Regions, Platforms, Business Enablement Functions and Global Business Services. On this matter, the Statutory Auditor issued an independent report on the Group's Internal Control of Financial Reporting System related to the financial statements as of 31 December 2025, without reservations nor qualifications, presented in the Annex "Certifications and Declarations ", concluding with a reasonable degree of assurance, regarding the design and effectiveness of the internal control of financial reporting system of EDP Group. IV. Investor Relations 56. Composition, duties and information provided by these services and their contact information The Investor Relations acts as the main link between EDP’s Executive Board of Directors and investors, financial analysts, and the market in general. Its mission is to ensure transparent, consistent, and timely communication, providing all relevant information about the Company’s strategy, its business environment, financial performance, and significant events. This includes the disclosure of privileged information, market communications, and periodic financial statements, while complying with all applicable legal and regulatory requirements. The Investor Relations promotes equality among shareholders by preventing asymmetries in access to information and reducing the gap between market perception and the Company’s intrinsic value. It is responsible for implementing EDP’s communication strategy and maintaining an appropriate institutional relationship with financial markets and regulatory and supervisory authorities such as CMVM (Comissão de Mercado de Valores Mobiliários). In carrying out its duties, Investor Relations maintains permanent contact with investors and analysts. In 2025, Investor Relations issued market notifications, presentations and quarterly, semi-annual and annual results reports, held a Capital Markets Day and operating data statement. Quarterly, on each results announcement, EDP promotes a conference call and webcast, opened to the market in general, at which the Company’s updates the market on EDP’s activities. In addition, the Investor Relations Department also elaborates key data files and interim presentations which are available on the website investors’ section. EDP’s Investor Relations is coordinated by Miguel Viana and is located at the Company’s head office: A v e n i d a 2 4 d e J u l h o , n . º 1 2 , 4 . º P i s o - P o e n t e ; 1 2 4 9 - 3 0 0 L i s b o a , P o r t u g a l Telephone: +351 21 001 2834 E-mail: ir@edp.com Website: www.edp.com The following table chart shows the communication channels through which EDP provides its shareholders with information on each type of documentation. Elements required by law or regulation 3 Notice of meeting √ √ √ √ √ Executive Board of Directors' proposals √ √ - √ √ Amendment of the Articles of Association √ √ - √ √ Other proposals √ √ - √ - Annual Report √ √ √ - √ Management and supervisory positions held in other Group companies by company officers √ √ √ √ √ Additional information provided by EDP Ballots for voting by proxy √ √ √ √ - Ballots for voting by mail √ √ √ √ - Ballots for voting by e-mail √ √ √ √ - Channels In person 1 www.edp.com E-mail In phone 2 www.cmvm.pt EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 239
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Clarification of any issues √ √ √ √ - EDP Articles of Association and Regulations √ √ √ √ √ Channels In person 1 www.edp.com E-mail In phone 2 www.cmvm.pt 1 At EDP's headquarters 2 Investor Relations phone number +351 21 001 2834 3 Article 289 of Companies Code and Regulation of CMVM 1/2023 57. Representative for market relations The representative for market relations is Director Rui Manuel Rodrigues Lopes Teixeira. 58. Percentage of and response time to queries received in the year or pending from previous years EDP aims to ensure that communication with the market is provided in an objective, transparent and understandable manner for all stakeholders. In order to achieve such intent and bearing in mind the importance of keeping a trustworthy and sustainable behaviour, EDP has adopted a financial reporting policy based on transparent and consistent information properly conveyed to investors and analysts. In 2025, the Investor Relations received several requests for information during the year and the average response time to queries was less than 24 hours, with complex requests being replied within one-week time. V. Website 59. Website Address EDP's website provides comprehensive legal or corporate governance information, updates on the Group's activity and complete financial and operational data in order to facilitate searches and access to information by shareholders, financial analysts and others. The information made available through this channel in Portuguese and English includes data on the Company, financial statements and accounts, privileged information, the Articles of Association and Internal Regulation of corporate bodies, the Group’s shareholder structure, preparatory documentation for General Shareholders' Meetings, historical performance of EDP share prices, a calendar of Company events, the names of members of the corporate bodies and corporate structures and the representative for market relations, contact information for the Investor Relations & ESG and other information of potential interest about the Group. EDP's website also allows visitors to consult accounting documents for any financial year since 2000. 60. Location of information about the company, its status as a public limited company, head office and other details mentioned in Article 171 of the Company Code The information set out in Article 171 of the Portuguese Companies Code is available on EDP's website on: Policies and Documentation | edp.com. 61. Location of the Articles of Association and regulations of bodies or committees The Articles of Association and regulations of bodies and committees are available on EDP's website on: Policies and Documentation | edp.com. 62. Location of information on the names of members of the corporate bodies, market relations representative, investor relations office or equivalent body, their duties and forms of access The names of members of the corporate bodies, market relations representative, investor relations office or equivalent body, their duties and forms of access are available on EDP's website on: Model and Governing Bodies | edp.com | Policies and Documentation | edp.com. EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 240
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63. Location of accounting documents, which must be available for at least five years and the six-monthly calendar of company events disclosed at the start of each half year, including General Shareholders' Meetings, disclosure of annual, six-monthly and, if applicable, quarterly accounts The accounting documents and calendar of company events are available on EDP's website on: Results and Presentations | edp.com | Investors | edp.com. 64. Location of notice of meeting for General Shareholders' Meetings and all their preparatory and subsequent information The notice of meeting for General Shareholders' Meetings and all their preparatory and subsequent information are available on EDP's website on: General Shareholders' Meetings | edp.com. 65. Location of history of decisions made at the company's General Shareholders' Meetings, the share capital represented and result of votes for the previous three 3 years The history of decisions made at the Company's General Shareholders' Meetings, the share capital represented, and result of votes are available on EDP's website on: General Shareholders' Meetings | edp.com. EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 241
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D. Remuneration As the information in the points below is largely contained in the Remuneration Report, a more detailed consultation is referred to Part IV - Remuneration Report, which provides, in accordance with the applicable legislation, a comprehensive overview of remuneration, including all benefits, regardless of their form, awarded or due during the last financial year to each member of the management and supervisory bodies. I. Power to set Remuneration 66. Power to set the remuneration of corporate bodies and company directors For information regarding Item 66, please see Part IV – Remuneration Report. II. Remuneration Committee 67. Membership of the Remuneration Committee, including names of the natural or legal persons hired to assist and declaration on independence of each member and consultant For information regarding Item 67, please see Item 29 of this Part III and Part IV – Remuneration Report. 68. Knowledge and experience of remuneration policy of the members of the Remuneration Committee The Remuneration Committee of the General and Supervisory Board is composed of members of the General and Supervisory Board with qualifications and experience in Remuneration Policy, according to Annex I of the current Report. On the other hand, the Remuneration Committee appointed by the General Shareholders' Meeting is composed of a number of members not less than three, with adequate knowledge and experience in matters of Remuneration Policy, in accordance with article 2 of the respective Internal Regulation and in accordance with the curricular notes attached to the proposal for election at the General Shareholders' Meeting available at: Appointment of the members of the Remuneration Committee to be appointed by the General Shareholders’ Meeting – Item 9 of the Agenda | edp.com . For more detailed information please see Part IV – Remuneration Report. III. Remuneration Structure 69. Remuneration policy of management and supervisory bodies For information regarding Item 69, please see Part IV – Remuneration Report. 70. How remuneration is structured to allow alignment of the interests of the members of the managing body with the company's long-term interests and how it is based on assessment of performance and discourages excessive risk-taking For information regarding Item 70, please see Part IV – Remuneration Report. 71. Reference to a variable remuneration component and any impact of performance evaluation on this component For information regarding Item 71, please see Part IV – Remuneration Report. 72. Deferral of payment of variable component of remuneration and its length For information regarding Item 72, please see Part IV – Remuneration Report. 73. Criteria on allocation of variable remuneration in shares and executive directors' maintenance of these shares, any agreements concluded concerning these shares, such as hedging or risk transfer contracts, their limit, and their association with total annual remuneration For information regarding Item 73, please see Part IV – Remuneration Report. 74. Criteria on allocation of variable remuneration in options, period of deferral and price of exercise EDP has no variable remuneration option schemes. For more information, see Part IV - Remuneration Report. 75. Main parameters and basis of any annual bonus system and any non-monetary benefits For information regarding Item 75, please see Part IV – Remuneration Report. 76. Main characteristics of supplementary pension or early retirement schemes for directors and date of approval individually at a General Meeting For information regarding Item 76, please see Part IV – Remuneration Report. IV. Disclosure of Remuneration 77. Annual aggregate and individual remuneration paid to the members of the company's managing body by the company, including fixed and variable remuneration and its different components For information regarding Item 77, please see Part IV – Remuneration Report. EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 242
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78. Amounts paid for any reason by other subsidiary or Group companies or companies under common control In 2025, no amounts earned by members of the Executive Board of Directors were paid by other companies in a group7 or control relationship or that are subject to a common control, in Portugal or abroad. 79. Remuneration in the form of profit-sharing and/or payment of bonuses and reasons for these bonuses or profit sharing EDP has no schemes in place for payment of remuneration in the form of profit-sharing and/or payment of bonuses. 80. Compensation paid or owed to former executive directors for termination in the financial year For information regarding Item 80, please see Part IV – Remuneration Report. 81. Annual aggregate and individual remuneration paid to the members of the company's supervisory bodies For information regarding Item 81, please see Part IV – Remuneration Report. 82. Remuneration of the Chair of the General Shareholders' Meeting For information regarding Item 82, please see Part IV – Remuneration Report. V. Agreements Affecting Remuneration 83. Contractual limitations for compensation payable to directors for dismissal without due cause and their association with the variable component of remuneration. In addition to the situations reported in the Remuneration Report, there are no contracts in force at EDP that provide for payments in the event of dismissal or termination by agreement of the director's duties. 84. Description and amounts of agreements between the company and members of the managing body and directors, as set out in Article 248-B (3) of the Securities Code, providing for compensation in the event of dismissal without due cause or termination of employment following a change of company control Under the European Union legislation regarding market abuse, EDP has no directors other than the members of the General and Supervisory Board and of the Executive Board of Directors. In fact, apart from the members of those bodies, there is no person who has regular access to inside information and participates in management and business strategy decision of the Company. On the other hand, it is reiterated that, in addition to the situations reported in the Remuneration Report, there are no agreements in force at EDP that provide for payments in the event of dismissal or termination by agreement of director's duties. VI. Stock Purchase Option Plans or Stock Options 85. Plan and its beneficiaries There are no option rights granted for the acquisition of shares (stock options) from which the Company's employees and personnel are beneficiaries. 86. Description of the plan (conditions for award, clauses on non-saleability of shares, shares price criteria, price of options in financial year, period in which options can be exercised, characteristics of shares or options, incentives for purchase of shares or exercise of options) There are no option rights granted for the acquisition of shares (stock options) from which the Company's employees and personnel are beneficiaries. 87. Stock options of company employees There are no option rights granted for the acquisition of shares (stock options) from which the Company's employees and personnel are beneficiaries. 88. Control mechanisms set out in any employee share scheme so that they do not exercise their voting rights directly The Company has no such control mechanisms. EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 243 7 Definition of group within the meaning of paragraph g) of no. 1 of article 2 of Decree-Law no. 158/2009, of 13 July, in accordance with paragraph d) of no. 2 of article 26-G of the Portuguese Securities Code.
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E. Transactions with Related Parties I. Mechanisms and Procedures of Control 89. Company mechanisms for monitoring transactions with related parties As part of the qualitative reinforcement of governance practices, and since 2009, EDP and, in particular, the General and Supervisory Board, has been promoting the revision of the internal regulations governing transactions with related parties, given the constant search to adopt the best practices by the Company. To this end, the internal regulations governing conflicts of interest and business between related parties were reviewed, and in 2023 the Company revised its Related Party Transactions Policy, available for consultation on EDP's website: Transactions with Related Parties Policy | edp.com. The Financial Matters Committee is responsible for issuing a reasoned opinion on matters subject to a prior opinion by the General and Supervisory Board, which concern transactions between related parties, supported, whenever applicable, by reasoned opinions from the Risk and Compliance Departments, which must be made known to the General and Supervisory Board. 90. Transactions that underwent controls in the year Attentive to the current reporting obligations, the Executive Board of Directors, during 2025, sent information on transactions with related parties to the General and Supervisory Board and/or the Financial Matters Committee. The following transactions are included in this report: • The EDP Group, through EDP Clientes, S.A., provided electricity and gas supply services, solar panel installation and other related services to Cementos Tutela Veguín in the approximate amount of €29 million (Cementos Tutela Veguín is a subsidiary of the Masaveu Group, which in turn owns 55.9% of Oppidum Capital, S.L.); • In addition, the EDP Group, through EDP Comercial – Comercialização de Energia, S.A., provided services to Exus Management Partners relating to the installation of electrical infrastructure enabling the connection of two photovoltaic power stations to the public electricity grid, for a total value of approximately €1 million (Exus Management Partners is a subsidiary of the Masaveu Group, which in turn owns 55.9% of Oppidum Capital, S.L.); • EDP, through its subsidiary EDP Renováveis, S.A., settled the second price adjustment and the transfer of supplies associated with the agreement signed in 2012 between EDP Renewables Europe, S.L.U. and China Three Gorges International (Hong Kong) Company Limited (subsequently assigned to China Three Gorges Renewables, S.à.r.l.), in the approximate amount of €12 million; • Following the acquisition by China Three Gorges (Spain), S.L.U. of NCP Mula Solar (Spain), S.L. — the entity that owned the vehicle company party to a financial Power Purchase Agreement entered into with EDP — China Three Gorges (Spain), S.L.U. became the controlling entity of EDP's counterparty in the aforementioned Power Purchase Agreement, a transaction with a notional value of approximately €252 million for the eight years of its term (China Three Gorges (Spain), S.L.U. is a subsidiary of China Three Gorges (Europe), S.A., which is ultimately owned by China Three Gorges Corporation). The General and Supervisory Board noted that, with basis on the cases analysed and information provided by the Executive Board of Directors for 2025, there was no evidence that the potential conflict of interests in EDP operations were resolved contrarily to the Company’s interests. At the same time, it is important to highlight Article 18(2) of EDP Articles of Association, that defines a number of matters subject to prior opinion from the General and Supervisory Board. This corporate body has competences to set the parameters for measuring the economic or strategic value of the operations that must be submitted for its opinion, and these were updated by the referred Board on the 13 May 2021. In this context, in 2025, five investment/divestment operations were submitted for the prior opinion of the General and Supervisory Board, with an average value of €220M, as well as three financing operations, with an average value of approximately €1.2Bn. Regarding the use of the expedited mechanism for issuing a prior opinion, one operation were submitted to the General and Supervisory Board for financing reasons, with an average value of €450M, and two operations regarding investments or divestments, with an approximate average amount of €60M. Within the scope of these operations, it is also worth highlighting the debt issue in Brazil, intended to finance EDP Brasil subsidiaries, for a total amount of up to 2.85 billion Brazilian reais (BRL), which is the largest operation approved under this mechanism during the 2025 financial year. Also in this context, during the 2025 financial year, four operations with an average value of approximately $470M, were submitted to the United States of America Business Affairs Monitoring Committee for a prior opinion, with the largest transaction valued at $768M. With regard to the issuance of prior opinion by an expedited mechanism, in the 2025 financial year, two operations with an average value of approximately $430M were submitted to the United States of America Business Affairs Monitoring Committee. Regarding transactions analysed by the United States of America Business Affairs Monitoring Committee, none of them had a related party transaction underlying them. 91. Procedures and criteria applicable to the supervisory body's prior assessment of transactions between the EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 244
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company and holders of qualifying shareholdings or entities related to them in any way The rules in force applicable to the issuance of a prior opinion and to the expedited mechanisms of opinion in urgent cases of the General and Supervisory Board were updated on 13 May 2021, as well as the procedures for communication and provision of clarifications between that corporate body and the Executive Board of Directors. The Articles of Association of EDP also establish that the General and Supervisory Board should set the parameters for measuring the economic or strategic value of the operations that must be submitted to it for an opinion, as well as establish expedited mechanisms for issuing an opinion in urgent cases or when the nature of the matter justifies it and the situations in which exemption from issuing such an opinion is permitted (Article 22 (6)). In fact, the expedited mechanism for issuing an opinion by the General and Supervisory Board can only occur in situations of exceptional urgency or when the nature of the matter justifies it, as set out in the EDP’s Articles of Association and the Internal Regulations of the General and Supervision (Article 15(5)). With reference to prior opinion mechanism, General and Supervisory Board of EDP established a set of demanding rules regarding the conclusion of business between related parties, aimed at preventing situations of conflict of interests. In this context, it is important to highlight the provisions of the Transaction with Related Parties Policy – reviewed in May 2023 - regarding the procedures and criteria applicable to the intervention of the supervisory body for prior assessment of the business purposes to be carried out between the Company and holders of qualifying holdings or entities that are in any relationship with them. In particular, in legal transactions or de facto situations between related parties that are likely to give rise to a conflict of interest between the parties involved, relevant to the pursuit of EDP's interest, together with the request for a prior opinion from the General and Supervisory Board or its waiver, the Executive Board of Directors must provide the following information: • summary description of the operations and the responsibilities taken up by the parties; • outline of the procedures used to select the counterparty, i.e., whether the operation was based on a call for tenders/market consultation procedure or direct contract award; • in the event of direct contract award, the reasons for this decision; • in cases of calls for tenders/market consultation procedures, the type of contact established with the potential interested parties and the identity of those parties; • in case of competitive tenders, the details of the different tenders and the criteria used for selection; • the parameter used to check whether the transaction was performed under “normal market conditions for similar operations”; • measures adopted to prevent, mitigate risks, or solve potential conflicts of interests, namely the issuing of fairness opinions by independent entities prior to taking a decision regarding the performance of a Transaction with a Related Party; • indication, if applicable, of the multi-annual nature of the operation, in which case the initial date of the award/contract must be reported, as well as the date on which the supplies and/or services are provided. With respect to legal business or cases that exist between related parties that are likely to give rise to a conflict of interests between those involved, which could impact the interests of EDP, these should be subject to a preliminary opinion from the General and Supervisory Board: • if the Financial Matters Committee can meet before the General and Supervisory Board meeting, an opinion from this Committee should be requested, which should be presented to the General and Supervisory Board for decision-making purposes; • if it is not possible for the Financial Matters Committee to meet, the assessment of the potential conflict of interests must be made directly by the General and Supervisory Board within its decision-making authority. II. Business Information 92. Location of accounting documents providing information on transactions with related parties, pursuant to IAS 24, or reproduction of the information Information on transactions with related parties, pursuant to IAS 24, is set out in Note 44 of the consolidated and individual financial statements. EDP Integrated Annual Report 2025 Corporate Governance | Part 1. Information on ownership structure, organisation and Corporate Governance Index 245
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PART 2 - Assessment of Corporate Governance 1. Corporate Governance Code in Effect EDP, S.A. is a listed company whose securities are admitted to trading on the NYSE Euronext Lisbon stock market. Following the entry into force of the Protocol between the CMVM and the Portuguese Institute for Corporate Governance (Instituto Português de Corporate Governance - IPCG), on 13 October 2017, the Corporate Governance Code issued by CMVM was revoked, and changes were made to the Corporate Governance Code issued by the IPCG, available at www.cgov.pt The choice of EDP to adopt the Corporate Governance Code issued by the IPCG, from the moment it entered into force, and under the current version, reflects the concern of always ensuring the implementation of best corporate governance practices. According to the CMVM Circular, dated 11 January 2019, this Report is structured in accordance with Article 1(4) of CMVM Regulation 4/2013, and therefore abides by the model in its Annex I, not including the sections not applicable to EDP’s governance model. 2. Compliance assessment of the adopted Corporate Governance Code8 The following table sets out IPCG’s corporate governance recommendations as included in the Corporate Governance Code 2018, according with the 2023 revision, along with the identification, for each case, of EDP’s compliance or non-compliance, as the case may be, that the provisions to not apply to the Company. Complimentary information has been included where the description of the Company’s shareholder structure and governance model does not exhaust the scope of the underlying explanation of the respective recommendations. CHAPTER I - COMPANY’S RELATIONSHIP WITH SHAREHOLDERS, INTERESTED PARTIES AND THE COMMUNITY AT LARGE I.1. The company specifies in what terms its strategy seeks to ensure the fulfilment of its long-term objectives [I.1. (1)] and what are the main contributions resulting herefrom for the community at large [I.1. (2)] ADOPTED [I.1. (1)] EDP's vision is to lead the energy transition and create superior value to shareholders, by taking advantage of the secular investment opportunity, driven by rising power demand, as electricity is at the core of the technology and electrification momentum. To achieve this ambitious vision, in November 2025, EDP announced a new strategic update for the period of 2026-2028. The Strategic Plan is underpinned by four strategic axes: (i) focused growth - EDP will drive focused growth with clear visibility, stronger returns and a ~€12 b i l l i o n i n v e s t m e n t p l a n ; ( i i ) b u s i n e s s o p t i m i s a t i o n - c l e a r f o c u s o n c a s h - f l o w g e n e r a t i o n f r o m t h e e x i s t i n g p o r t f o l i o , w i t h ~ € 1 b i l l i o n t a r g e t e d d i s p o s a l s t o h e l p r e f o c u s t h e b u s i n e s s o n t h e m o s t a t t r a c t i v e m a r k e t s ; ( i i i ) d i s t i n c t i v e a n d r e s i l i e n t p o r t f o l i o - u n d e r p i n n e d b y a s t r o n g b a l a n c e s h e e t a n d ~ 8 0 % o f E B I T D A g e n e r a t e d i n A - r a t e d , r e g u l a t e d a n d l o n g - t e r m c o n t r a c t e d markets; and (iv) value creation - as EDP's strategic execution translates into growing earnings and a stronger financial position. This Strategic Plan is further supported by EDP's commitment to the energy transition and sustainability. EDP's ESG strategy focuses on accelerating the energy transition, focusing on resilience and climate adaptation, strengthening local community engagement and promoting biodiversity, partnering with suppliers, fostering circularity, and protecting and uplifting its people. [I.1. (2)] As reported in the Sustainability Statement of the Integrated Report, the EDP Group actively contributes to the sustainable development of the communities in which it operates throughout the world, through social investment in its own and collaborative initiatives, donations and volunteering. Since social impact is a strategic pillar of the EDP Group, these initiatives aim to fulfil social needs in line with the Group's core themes, namely investment in fair energy transition projects. In addition to the contribution made through its operations and business, the EDP Group also contributes to the United Nations' Sustainable Development Goals through its social investment programmes. Item 21 | Items 50 to 55 | Management Report of this Integrated Annual Report, in the Sustainability Statement edp.com I.2. The company identifies the main policies and measures adopted with regard to the fulfilment of its environmental [I.2. (1)] and social objectives [I.2. (2)]. ADOPTED [I.2. (1)] Code of Ethics | Integrity Policy | Environmental Policy | Climate Transition Plan [I.2. (2)] Code of Ethics | Integrity Policy | EDP’s Human and Labour Rights Policy | Supplier Code of Conduct | Stakeholder Relations Policy | Diversity Policy | Health and Safety at Work Policy | Social Investment Policy | Social Investment Report | EDP Y.E.S. - You Empower Society edp.com CHAPTER II - COMPOSITION AND FUNCTIONING OF THE CORPORATE BODIES Information Recommendations Adopted Not Adopted Not Applicable Comments Report Description EDP Integrated Annual Report 2025 Corporate Governance | PART 2 - Assessment of Corporate Governance Index 246 8 This Item addresses ESRS 2 GOV-1 and ESRS 2 GOV-5.
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II.1.1. The company establishes mechanisms to adequately and rigorously ensure the timely circulation or disclosure of the information required to its bodies, the company secretary, shareholders, investors, financial analysts, other stakeholders and the market at large. ADOPTED With regard to making information available, it is worth mentioning the existence of mechanisms for circulating information and the vocation and commitment of corporate bodies and committees to sharing information. With regard to this aspect, EDP has a portal for sharing information between the Executive Board of Directors and the General and Supervisory Board, as well as the Specialised Committees, which is accessible to all members of these bodies and committees, including the Company Secretary, without prejudice to restrictions on access to information regarding members who are in a situation of conflict of interest. In particular, with regard to the Company Secretary, he is responsible for drawing up and distributing the agenda and respective preparatory documentation, in accordance with the matters that have been dispatched for this purpose by the Chairman of the Executive Board of Directors (in accordance with article 8.6 of the Internal Regulations of the Executive Board of Directors and article 4.4 a) and b) of the Internal Regulations of the General and Supervisory Board). This information tool allows the different members to be aware of the most important documents, namely the minutes and supporting documents for resolutions. When requested by other members of the governing bodies, the Executive Board of Directors also provides all the information required by them in a timely manner and in a manner appropriate to the request, with the support of the Company Secretary. It should also be noted that the Investor Relations & ESG's mission is to ensure communication with analysts and investors in the Group's companies, in order to guarantee the sustainability of EDP's image and notoriety, and to respond to requests for information from regulatory and financial supervision bodies. In addition, the Regulation, Markets and Stakeholders Management ensures the company's institutional communication through an integrated and consistent narrative with the Group's stakeholders, in line with the adopted vision and strategy, with the aim of maximising the Group's communication potential with its stakeholders and contributing to fluid and systematised information about the Group and its actions. Finally, EDP has set up an operating model that presupposes a matrix organisational structure with Platforms, Regions, Business Enablement Functions (BEF) and Global Business Services (GBS), thus allowing for greater optimisation and efficiency of the organisational structure. Item 15 | Item 21 | Item 22 | Item 27 | Item 29 | Item 52 | Items 55 to 65 Diversity in the Composition and Functioning of the Corporate Bodies II.2.1. Companies establish, previously and abstractly, criteria and requirements regarding the profile of the members of the corporate bodies that are adequate to the function to be performed, considering, notably, individual attributes (such as competence, independence, integrity, availability and experience), and diversity requirements (with particular attention to equality between men and women), that may contribute to the improvement of the performance of the body and of the balance in its composition. ADOPTED Respect for diversity in corporate bodies and in the appointment, processes is one of the structural elements of EDP's corporate purpose. In fact, the various Internal Regulations of the governing bodies, corporate bodies and Specialised Committees that form part of EDP's structure contain provisions on the suitability, independence, and incompatibilities of the members of these bodies. With regard to the General and Supervisory Board and the Executive Board of Directors, EDP has a specific policy entitled " Selection Policy for the members of the General and Supervisory Board and the Executive Board of Directors " which stipulates that, within the scope of the selection process, the integration of diverse skills, professional experience, diversity of knowledge, gender and cultures should always be ensured in a transparent and objective manner, taking into account the specificities of the Company's business. That policy also establishes that proposals for the election of members of the General and Supervisory Board and the Executive Board of Directors must be submitted to the General Shareholders’ Meeting, duly substantiated with regard to the candidate's profile and the role they will fulfil, so that shareholders can verify the suitability of the candidates' profile, knowledge, and CV, considering the duties to be performed. The criteria include (i) promoting equal rights and opportunities in the face of diversity, (ii) valuing diversity, particularly in terms of age, gender, geographical origin, qualifications, skills, and experience, (iii) promoting an increase in the number of members of the under-represented gender and (iv) avoiding potential conflicts of interest. This selection policy also sets out the competences that the members of the Executive Board of Directors and the General and Supervisory Board must possess, among which the following stand out: (i) technical and professional skills appropriate to the position, (ii) integrity, ethics and professional and personal values, (iii) sufficient knowledge of the legal, regulatory and statutory rules applicable to their duties and to the Company, (iv) sufficient availability to fulfil their legal and statutory duties, (v) fulfilment of the independence requirements demanded by law and the articles of association, (vi) commitment to the provisions of the Company's codes, policies and Internal Regulations, (vii) commitment to complying with best corporate governance practices, (viii) skills and experience in company management, risk management and supervision appropriate to the position and (ix) knowledge of the industry and experience in the sector. In particular, with regard to gender diversity, it is necessarily accommodated by virtue of compliance with Law 62/2017, of 1 August, on the balanced representation of women and men in the management and supervisory bodies of entities in the public business sector and companies listed on the stock exchange. EDP also has a diversity policy which establishes (i) the commitment to promote mutual respect and equal opportunities in the face of diversity, (ii) the recognition of differences as a source of strengthening human potential and valuing diversity in the organisation, management and strategy, and (iii) the adoption of positive discrimination and awareness-raising measures internally, but also in the community, with a view to the effective implementation and effectiveness of the diversity policy. At the EDP Annual General Shareholders’ Meeting held on 10 April 2024, the members of the General and Supervisory Board and the Executive Board of Directors were elected for the three-year period 2024-2026, and the representativeness of these bodies is above that provided for in the applicable legislation. According to EDP's current Gender Equality Plan, updated for the 2024-2025 period, available on EDP's website and at www.cmvm.pt, gender equality is of civilisational importance, as a corollary of equal rights, freedoms, guarantees, opportunities and recognition between men and women, also allowing skills and knowledge to be enhanced by including everyone, promoting a better working environment and motivation and, consequently, higher levels of productivity and talent retention. Item 11 | Items 15 to 17 | Items 30 to 33 | Annex I Recommendations Adopted Not Adopted Not Applicable Comments Report Description EDP Integrated Annual Report 2025 Corporate Governance | PART 2 - Assessment of Corporate Governance Index 247
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II.2.2. The management [II.2.2. (1)] and supervisory bodies [II.2.2. (2)] and their internal committees [II.2.2. (3)] are governed by regulations – notably regarding the exercise of their powers, chairmanship, the frequency of meetings, operation, and the duties framework of their members – fully disclosed on the website of the company, whereby minutes [II.2.2.(4)]/[II.2.2.(5)]/[II.2.2.(6)] of the respective meetings shall be drawn up. ADOPTED The General and Supervisory Board, the Executive Board of Directors, the Financial Matters Committee (FMC), the Corporate Governance and Sustainability Committee (CGSS), the Remunerations Committee (RCMC) and the United States of America Business Affairs Monitoring Committee (CAN) have specific Internal Regulations that establish its functioning (in particular the exercise of the respective duties, chairmanship, periodicity of meetings, functioning, duties of their members and duty to draft detailed minutes of the respective meetings). In relation to the applicable specific articles, please see the information below: Internal Regulation EBD [II.2.2 (1)] D u t i e s 4 . º C h a i r m a n s h i p 5 . º P e r i o d i c i t y o f m e e t i n g s 8 . º F u n c t i o n i n g 8 . º D u t i e s o f t h e i r m e m b e r s 2 . º , 4 . º e 7 . º D u t y t o d r a f t M i n u t e s 1 0 . º [ I I . 2 . 2 ( 4 ) ] Internal Regulation GSB [II.2.2 (2)] D u t i e s 2 . º C h a i r m a n s h i p 5 . º P e r i o d i c i t y o f m e e t i n g s 4 . º e 2 0 . º F u n c t i o n i n g 4 . º D u t i e s o f t h e i r m e m b e r s 1 1 . º D u t y t o d r a f t M i n u t e s 2 6 . º [ I I . 2 . 2 ( 5 ) ] Internal Regulation FMC [II.2.2 (3)] D u t i e s 2 . º C h a i r m a n s h i p 5 . º P e r i o d i c i t y o f m e e t i n g s 4 . º F u n c t i o n i n g 4 . º D u t i e s o f t h e i r m e m b e r s 1 0 . º D u t y t o d r a f t M i n u t e s 4 . º [ I I . 2 . 2 ( 6 ) ] Internal Regulation RCMC [II.2.2 (3)] D u t i e s 2 . º C h a i r m a n s h i p 5 . º P e r i o d i c i t y o f m e e t i n g s 4 . º F u n c t i o n i n g 4 . º D u t i e s o f t h e i r m e m b e r s 1 0 . º D u t y t o d r a f t M i n u t e s 4 . º [ I I . 2 . 2 ( 6 ) ] Internal Regulation CGSS [II.2.2 (3)] D u t i e s 2 . º C h a i r m a n s h i p 5 . º P e r i o d i c i t y o f m e e t i n g s 4 . º F u n c t i o n i n g 4 . º D u t i e s o f t h e i r m e m b e r s 1 0 . º D u t y t o d r a f t M i n u t e s 4 . º [ I I . 2 . 2 ( 6 ) ] Internal Regulation CAN [II.2.2 (3)] D u t i e s 2 . º C h a i r m a n s h i p 5 . º P e r i o d i c i t y o f m e e t i n g s 4 . º F u n c t i o n i n g 4 . º D u t i e s o f t h e i r m e m b e r s 9 . º D u t y t o d r a f t M i n u t e s 4 . º [ I I . 2 . 2 ( 6 ) ] II.2.3. The composition [II.2.3.(1)] and number of meetings for each year [II.2.3.(2)] of the management and supervisory bodies and of their internal committees are disclosed on the website of the company. ADOPTED [II.2.3.(1)] Governing Bodies [II.2.3.(2)] The information on this sub-recommendation can be found separately in EDP’s Integrated Annual Report and in the Annual Report of the General and Supervisory Board, both published on EDP’s website. Item 59 | Annex V Recommendations Adopted Not Adopted Not Applicable Comments Report Description EDP Integrated Annual Report 2025 Corporate Governance | PART 2 - Assessment of Corporate Governance Index 248
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II.2.4. The companies adopt a whistle-blowing policy that specifies the main rules and procedures to be followed for each communication [II.2.4.(1)] and an internal reporting channel that also includes access for non-employees, as set forth in the applicable law [II.2.4.(2)]. ADOPTED Since 2006, EDP has had a policy for reporting irregularities [II.2.4.(1)]. In 2022, and following the entry into force of Law no. 93/2021, of 20 December, which transposes Directive (EU) 2019/1937, EDP reformulated its whistleblowing channels [II.2.4.(2)], with a view to structuring an Integrated Whistleblowing Management System. To this end, EDP adopted a technological platform common to all whistleblowing channels, which safeguards the segregation of information for each channel. Also in 2022, EDP approved the Speak Up Whistleblower Management Regulation, replaced in 2024 by the Whistleblower Management Policy, which establishes the mechanisms and procedures for receiving, retaining, and processing reports received by the Company on allegedly unethical behaviour that does not comply with the law and internal regulations in force. Under the terms of these Policy, reports, which can be made by interested parties from any EDP Group company (including non-employees), are treated as confidential information by all those who receive information about the facts reported, and the anonymity of the whistleblower is ensured if they so request. For more information, see: Speak Up Channels and Whistleblowing Management Policy Speak Up. In recent years, the Integrity Policy, as well as the other compliance procedures and mechanisms associated with the Specific Integrity Compliance Programme, have been the subject of internal training for employees, and have also been published internally for consultation on EDP's internal communication channels. As part of the structuring of the Specific Compliance Programme to Combat Money Laundering and Terrorist Financing, specific internal regulations, and a transversal procedure for reporting suspicious transactions were also implemented by the obliged entities. In 2022, this whistleblowing channel, which has been in place since 2006, was restructured for reporting potential irregularities in financial matters, and a specific communication channel was also made available for potential irregularities related to anti-money laundering and anti-terrorist financing violations, currently included in the Speak Up Channels mentioned above. For more information: Channel for reporting irregularities related to Money Laundering or Terrorist Financing. Item 15 | Item 49 | Item 50 to 55 II.2.5. The companies have specialised committees for matters of corporate governance [II.2.5.(1)], remuneration [II.2.5.(2)], appointments of members of the corporate bodies [II.2.5.(3)] and performance assessment [II.2.5.(4)], separately or cumulatively. If the Remuneration Committee provided for in Article 399 of the Portuguese Commercial Companies Code has been set up, the present Recommendation can be complied with by assigning to said committee, if not prohibited by law, powers in the above matters. ADOPTED [II.2.5 (4)] The Remuneration Committee elected by the General Meeting (CVEN GSM) is responsible for submitting a proposal for the remuneration policy of the members of the General and Supervisory Board, the members of the Board of the General Meeting and the Statutory Auditor. One of the guiding principles of CVEN GSM 's activity is the definition of a simple, clear, transparent policy in line with EDP's culture, so that remuneration practices can be based on uniform, consistent, fair, and balanced criteria. Within this framework, the remuneration policy proposed by CVEN GSM aims to ensure levels of homogeneity and stability that are compatible not only with the necessary cohesion of the governing bodies and organisations, but also and above all with their non-executive nature, and it is not considered desirable to award variable remuneration that is necessarily conditional on the performance of the respective members. In this context, it is considered appropriate to defend the - growing - differentiation between the remuneration treatment of directors with executive duties, on the one hand, and that of other members of other corporate bodies, namely supervisory and supervisory bodies, on the other. As such, and in line with the provisions of the applicable legislation, the fixed remuneration safeguards the distance between the exercise of supervisory and/or oversight duties and the risk inherent in the business activity, as well as the fundamental independence within the scope of impartial and effective supervision and/or oversight. This differentiating treatment is even reflected in the IPCG Code itself, specifically under the terms of the Principle of Chapter VI. In this instance, the assessment of the performance of members of governing bodies other than the members of the Executive Board of Directors, the General and Supervisory Board and the Specialised Committees is carried out in a different way, and solid mechanisms of checks and balances and internal control are sufficient for this purpose. In this sense, as there are, in addition to the shareholder prerogative at the Annual General Shareholders’ Meeting, internal mechanisms of an instrumental nature to assess, at first hand and with in-depth knowledge, the performance of the members of the governing bodies and other corporate structures, there are no benefits to establishing an additional mechanism to assess the individual performance of each of the members of EDP's governing bodies and other corporate structures. In this regard, the performance assessment mechanisms are duly safeguarded, namely through the assessment and self-assessment process of the General and Supervisory Board, certified by a specialised external entity, including the Chair of the Board of the General Meeting of Shareholders, and the assessment process of the Statutory Auditor by the FMC. Considering that the Remuneration Policy proposed by CVEN GSM only proposes to provide for the remuneration - always of a fixed nature - of the aforementioned bodies and corporate bodies and that the Company has established effective and resilient internal evaluation and control mechanisms to assess the individual performance of each member, including their contribution to the way in which the body operates and the relationship between the various bodies of the Company, this sub- recommendation [II.2.5(4)] should be considered as explain equivalent to adoption. [II.2.5.(2)] The company also has a Remuneration Committee of the General and Supervisory Board, which is responsible for preparing and proposing the policy and corporate objectives for setting the remuneration of the Chairman of the Executive Board of Directors and the Directors, as well as setting the respective remuneration, monitoring and evaluating their performance for the purposes of determining variable remuneration and also monitoring the disclosure of external information on the remuneration and remuneration policy of the Executive Board of Directors, namely the Remuneration Report, as established in the respective Internal Regulations. [II.2.5. (1)] With regard to corporate governance, the General and Supervisory Board also has a Corporate Governance and Sustainability Committee, which is responsible for analysing this issue. [II.2.5 (3)] As provided for in Article 14(1)(h) of the respective Internal Regulations, the General and Supervisory Board is responsible for "monitoring the definition of criteria and competences required in the structures and internal bodies of the Company or the Group or convenient to observe and their repercussions on the respective composition, as well as drawing up succession plans." In addition, pursuant to article 28 (c) (vi) of the Internal Regulations of the General and Supervisory Board and article 12 (1) (m) of the Internal Regulations of the Corporate Governance and Sustainability Committee, the Corporate Governance and Sustainability Committee is the specialised committee responsible for monitoring matters relating to succession plans. The Corporate Governance and Sustainability Committee is the specialised committee entrusted with monitoring matters relating to succession plans, namely monitoring the preparation, in coordination with the Executive Board of Directors, of succession plans for the structures and internal bodies of the Company, Subsidiaries and other entities in relation to which the Company has the right to appoint the members of the governing bodies. This analysis should cover all the key positions that are most instrumental in the fulfilment of the Strategic Plan, which should be previously identified by the Executive Board of Directors and submitted to this Committee. Item 21 | Item 29 | Remunerations Report | Annual Report of the General and Supervisory Board Relations between Corporate Bodies II.3.1. The Articles of Association or equivalent means adopted by the company set out the mechanisms to ensure that, within the limits of the applicable laws, the members of the management and supervisory bodies have permanent access to all necessary information to assess the performance, situation and development prospects of the company, including, specifically, the minutes of the meetings, the documentation supporting the decisions taken, the convening notices and the archive of the meetings of the executive management body, without prejudice to access to any other documents or persons who may be requested to provide clarification. ADOPTED EDP's Articles of Association expressly state that the different bodies of the Company must, to the extent of their respective competences, create the necessary conditions for harmonious, articulated, and informed action in the performance of their duties, and mechanisms for reporting and sharing information have been implemented, as mentioned in relation to recommendation II.1.1. In addition, the Internal Regulations of the Executive Board of Directors, the General and Supervisory Board and the various Committees contain provisions establishing the need to report, namely to the supervisory body, information on the annual plan of activities of meetings, resolutions, and minutes. The recommendation is also included in Article 5 of the Internal Regulations of the Executive Board of Directors. Currently, EDP also has an internal instrument that allows it to systematise the principles of action and the rules to be observed in the interaction of the Executive Board of Directors with the General and Supervisory Board, in development of the legal framework, the Articles of Association and the Regulations that deal with these matters. Items 21 to 45 Recommendations Adopted Not Adopted Not Applicable Comments Report Description EDP Integrated Annual Report 2025 Corporate Governance | PART 2 - Assessment of Corporate Governance Index 249
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II.3.2. Each body and committee of the company ensures, in a timely and adequate manner, the interorganic flow of information required for the exercise of the legal and statutory powers of each of the other bodies and committees. ADOPTED All the Internal Regulations establish reporting and information-sharing mechanisms. In particular, the portal's role in sharing information between the General and Supervisory Board, its committees and the Executive Board of Directors should be emphasised. With regard to regulations, the following should be highlighted: - Articles of Association: Article 23 (1) (k); - Internal Regulation of the Executive Board of Directors: Articles 5 (1) (e) and 10 (4); - Internal Regulation of the General and Supervisory Board: Article 5 (c) and (e), and Article 11 (1) (a); Article 14 and Article 17; - Internal Regulation of the Financial Matters Committee: Article 5 (1) (f), Article 10 (1) (a) and Article 13; - Internal Regulation of the Remuneration Committee: Article 5 (1) (d); Article 10 (1) (a) and (2); - Internal Regulation of the Corporate Governance and Sustainability Committee: Article 5 (e); Article 10 (1) (a), (2), and (3) (c); Articles 12 and 13; - Internal Regulation of the United States of America (USA) Business Affairs Monitoring Committee: Article 5 (d); article 9 (1) (a). Items 21 to 45 Conflicts of Interest II.4.1. By internal regulation or an equivalent hereof, the members of the management and supervisory bodies and of the internal committees shall be obliged to inform the respective body or committee whenever there are any facts that may constitute or give rise to a conflict between their interests and the interest of the company. ADOPTED Since 17 May 2010, EDP has implemented rules for identifying internal reporting and acting in the event of a conflict of interest, applicable to all EDP Group employees who have a decision-making role in transactions with related parties. In 2021, and with the revision of internal regulations, the Transaction with Related Parties Policy came into force, which aims to establish the general principles of action and reporting in order to identify, prevent, detect, and resolve situations of conflicts of interest in the context of Transactions with Related Parties, which was revised in May 2023. In addition, it aims to contribute to the promotion of ethics and integrity in the development of the business of EDP and other companies and/ or entities that make up the EDP Group, ensuring compliance with legislation and established principles and rules. The Internal Regulations of EDP's governing bodies or committees also contain a provision according to which the members of these bodies and committees must inform the respective body or committee of facts that may constitute or give rise to a conflict between their interests and the corporate interest. Conflicts of interest are reported whenever there are facts that may constitute or give rise to them and are not limited to the deliberative context. All the Internal Regulations of the governing bodies and Specialised Committees include a specific provision on the conduct to be adopted by a member of the respective body or committee who is in a situation of actual or apparent conflict of interest, as well as a duty to provide information and clarification. The respective articles that specifically address this recommendation are as follows: - Internal Regulation GSB: Article 10 - Internal Regulation EBD: Article 6 - Internal Regulation FMC: Article 9 - Internal Regulation REMC: Article 9 - Internal Regulation CGSS: Article 9 - Internal Regulation CAN: Article 8 Item 10 | Item 18 | Item 20 | Item 21 | Item 91 II.4.2. The company adopts procedures to ensure that the conflicted member does not interfere in the decision-making process, without prejudice to the duty to provide information and clarification requested by the body, committee or respective members. ADOPTED Item 10 | Item 18 | Item 20 | Item 21 | Item 91 Transactions with Related Parties II.5.1. The management body discloses, in the corporate governance report or by other publicly available means, the internal procedure for verification of transactions with related parties. ADOPTED In this regard, in addition to the provisions of the applicable legislation and the Articles of Association, there is an internal regulation on conflicts of interest and business between related parties, revised in May 2023 - the Related Party Transactions Policy - which can be consulted on EDP's website. Under the terms of the Articles of Association and the legislation in force, the Executive Board of Directors is responsible for the management of the Company and, for the purposes of transactions with related parties, the following are considered to be decision-makers: (i) the members of the governing bodies of EDP and its Subsidiaries; (ii) EDP employees in job grades 20 to 25 (taking into account the current levelling), regardless of the EDP Group company with which they have a contractual relationship or perform duties; (iii) whenever the decision-maker defined in (ii) identifies, as decision-makers, other EDP Group employees, with a job grade lower than 20 (taking into account the current levelling), to whom it has attributed identical competences; and (iv) whenever the Executive Board of Directors expressly qualifies EDP Group employees as decision-makers, indicating the respective scope of activity and delegation of competences. All decision-makers must therefore report any information deemed relevant on transactions carried out or to be carried out with related parties, namely with controlled companies or with the decision-makers themselves. The Related Party Transactions Policy also identifies deals of significant importance, specifying the type and scope of deals subject to prior authorisation. In addition, Article 18(2) of EDP's Articles of Association refers to a set of matters that are subject to the prior favourable opinion of the General and Supervisory Board, which must set the parameters for measuring the economic or strategic value of the operations that must be submitted to it for an opinion, particularly with regard to acquisitions and disposals of assets, rights or holdings of significant economic value, under the terms of Article 22(6) of EDP's Articles of Association and Article 15 of the Internal Regulations of the General and Supervisory Board. It is the responsibility of the General and Supervisory Board, within the scope of its assessment of EDP's annual and interim management report and considering the work carried out by the Financial Matters Committee, to analyse and issue an opinion on the relevant business concluded between these parties. Effectively, EDP has a Specialised Committee of the General and Supervisory Board, the Financial Matters Committee, with the power to assess business with related parties. Its Internal Regulations make it clear that the final decision rests with the General and Supervisory Board, in accordance with Article 12(1)(k) and (l). In addition, the Corporate Governance and Sustainability Committee is responsible for monitoring and supervising the systems for assessing and resolving conflicts of interest, particularly with regard to the company's relations with shareholders, by analysing the proposals for remedies for situations reported to it by the Financial Matters Committee (Article 2(1)(d) of its Internal Regulations). EDP also has a set of rules regarding the issuing of a prior opinion by the General and Supervisory Board, as well as the procedures for communication and the provision of clarifications between the General and Supervisory Board and the Executive Board of Directors. In addition, the Executive Board of Directors must, no later than 20 (twenty) days after the end of each quarter, inform the General and Supervisory Board of all transactions that constitute relevant situations, and the elements that must be included in this information are referred to in the respective policy (in accordance with Article 23(1)(l) of the Articles of Association and Article 14(1)(k) of the Internal Regulations of the General and Supervisory Board). The intervention of the General and Supervisory Board in the assessment of this type of transaction is always preceded by the analysis and scrutiny of the Executive Board of Directors. Also under the terms of the Internal Regulations in force on this matter, the General and Supervisory Board and, more specifically, the Financial Matters Committee, analyse all transactions between EDP and controlled companies with a value equal to or greater than: (i) €75m, in the case of shareholder loans and loans; (ii) €75m, in the case of acquisition, sale, marketing or supply of electricity or natural gas, as well as related services and products and (iii) €5m in all other cases. Item 10 | Items 89 to 92 CHAPTER III - SHAREHOLDERS AND GENERAL MEETING Recommendations Adopted Not Adopted Not Applicable Comments Report Description EDP Integrated Annual Report 2025 Corporate Governance | PART 2 - Assessment of Corporate Governance Index 250
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III.1. The company does not set an excessively large number of shares to be entitled to one vote [III.1. (1)] and informs in the corporate governance report of its choice whenever each share does not carry one vote [III.1. (2)]. ADOPTED [III.1.(1)] Article 15(1) and (2) of EDP's Articles of Association state that each share corresponds to one vote and that all shareholders with voting rights may participate in general meetings provided that they hold such rights on the date of registration. [III.1. (2)] – Not applicable. Item 5 | Item 6 | Item 7 | Item 10 | Items 12 to 16 | Item 56 III.2. The company that has issued special plural voting rights shares identifies, in its corporate governance report, the matters that, pursuant to the company’s Articles of Association, are excluded from the scope of plural voting. NOT APPLICABLE The Company does not issue shares with special plural voting rights. Item 12 III.3. The company does not adopt mechanisms that hinder the passing of resolutions by its shareholders, specifically fixing a quorum for resolutions greater than that foreseen by law. ADOPTED The Article 12(3) of EDP's Articles of Association establishes that the decisions of the Annual General Shareholders’ Meeting shall be taken by a majority of the votes cast, unless a legal or statutory provision requires a qualified majority. In this regard, Article 12(4) of EDP's Articles of Association states that resolutions on the amendment of the Articles of Association and the merger, demerger, transformation or dissolution of the company, with the exception of the provisions of paragraph 5 of that article, must be approved by two thirds of the votes cast and, when the meeting is convened at first call, provided that shareholders holding at least one third of the share capital are present or represented. Item 5 | Item 6 | Item 7 | Item 10 | Items 12 to 16 | Item 56 III.4. The company implements adequate means for shareholders to participate in the general meeting without being present in person, in proportion to its size. ADOPTED Although EDP has always strived to maximise shareholder participation in general meetings, as such involvement provides direct interaction with stake holders and thus constitutes a positive factor for proximity to the shareholder structure, for the efficient functioning of the Company and for the achievement of its corporate purpose, the Covid-19 pandemic context has inevitably changed this understanding. Since EDP held three Annual General Shareholders’ Meeting in a State of Emergency context, on 16 April 2020, 19 January 2021 and 14 April 2021, it was necessary to implement procedures for them to be held by telematic means, according to the respective notices available at General Shareholders' Meetings | edp.com. The constitutive quorum for the three aforementioned General Meetings was 67.3% for the April 2020 Annual General Shareholders’ Meeting, 73.9068% for the January 2021 Extraordinary Annual General Shareholders’ Meeting and 74.415% for the April 2021 Annual General Shareholders’ Meeting. For the exceptional reasons explained above, the form of voting corresponded exclusively to voting by correspondence, either by post or electronically, under the terms of article 384, paragraphs 8 and 9 of the Companies Code, article 22 of the Securities Code, and under the terms of article 15, paragraphs 6, 7 and 8 of EDP's Articles of Association. The fact that the Annual General Shareholders’ Meeting were held exclusively by telematic means meant that all shareholders registered and duly authorised to participate in the Annual General Shareholders’ Meetings had access to live video and audio broadcasts of the meetings. To this end, a link was sent the day before the Annual General Shareholders’ Meetings to the email address provided when the shareholder or their representative expressed their intention to attend the Annual General Shareholders’ Meetings, so that they could access a digital platform. In addition to the possibility of asking questions in writing via the digital platform about the topics on the Agenda that they wished to be answered at the meeting, held by telematic means, under the terms of article 290 of the Companies Code, shareholders were given the opportunity to ask questions in writing up to two (2) days before the respective dates of the Annual General Shareholders’ Meetings. For the Extraordinary Annual General Shareholders’ Meeting of 19 January 2021, the Annual General Shareholders’ Meeting of 14 April 2021, the Annual General Shareholders’ Meeting of 6 April 2022, the General Shareholders’ Meeting of 12 April 2023 and for the General Shareholders’ Meeting of 10 April 2024, and in order to ensure full clarification for shareholders prior to exercising their voting rights, and without prejudice to the timely availability of documents relating to the Items on the Agenda and the prerogative conferred above, shareholders were given the opportunity to ask questions, under the right to information provided for in article 290 of the Commercial Companies Code. The shareholders were given the opportunity to ask questions, under the right to information provided for in article 290 of the Commercial Companies Code, up to 8 (eight) days before the Annual General Shareholders’ Meeting, so that any questions they had prior to exercising their voting rights could be fully clarified. At the Annual General Shareholders’ Meetings of 6 April 2022, 12 April 2023, 10 April 2024 and 10 April 2025, EDP implemented a hybrid model, giving shareholders the option of attending the Annual General Shareholders’ Meeting in person or by telematic means. III.5. The company also implements adequate means for the exercise of voting rights without being present in person, including by correspondence and electronically. ADOPTED If, on the one hand, EDP's Articles of Association make it possible to exercise postal voting by letter (article 15(6)(a)), on the other hand, they allow and determine the procedure for exercising postal voting rights, including by electronic means, in accordance with requirements that ensure their authenticity (article 15, ((6)(7)(8)). As provided for in the notice of the Annual General Shareholders’ Meetings held on 10 April 2024, the right to vote may be exercised in one of the following ways: (i) advance electronic vote, or (ii) postal vote, or (iii) electronic vote during the Annual General Shareholders’ Meetings (telematic assistance) or (iv) in-person vote during the Annual General Shareholders’ Meetings. Item 5 | Item 6 | Item 7 | Item 10 | Items 12 to 16 | Item 56 III.6. The Articles of Association of the company that provide for the restriction of the number of votes that may be held or exercised by one single shareholder, either individually or jointly with other shareholders, shall also foresee that, at least every five years, the general meeting shall resolve on the amendment or maintenance of such statutory provision – without quorum requirements greater than that provided for by law – and that in said resolution, all votes issued are to be counted, without applying said restriction. NOT ADOPTED Given the company's current shareholder structure, this recommendation has no practical applicability. However, in recent years, the issue of the statutory limitation on voting rights has already been considered by EDP's General Meeting three times, the last of which took place on 24 April 2019. The shareholders have thus been called upon to give their opinion on the limitation of the number of votes, and there has been significant support for maintaining the existence of the limitation and reflection on adjusting the relevant ceiling for counting voting rights, precisely in the direction of a progressive increase in this level. The company's shareholder dynamics have thus proved to be perfectly in tune with the direction advocated in the Recommendation and sufficiently capable of pursuing its objectives, dispensing with rigid formulas for the statutory provision of this revision, which has even fostered particularly intense shareholder scrutiny of this clause, without constituting an impediment to the regular functioning of the corporate control market. These circumstances confirm that the voting cap does not prevent the relevant involvement of shareholders in EDP's corporate governance, and it is true that there were 3 resolutions at the General Meeting, from 2011 to 2019, related to this statutory limitation. In effect, the limitation on the number of votes provided for in Article 15(3) of the Articles of Association reflects the express will of EDP's shareholders through resolutions of the General Meeting, in defence of the Company's specific interests: (i) the change in the aforementioned limit from 5% to 20% was approved by the shareholders at the General Meeting of 25 August 2011, in which 72.25% of the share capital was held and the approval was carried out by a majority of 94.16% of the votes cast; (ii) the subsequent increase to the current 25% was approved at the General Meeting of 20 February 2012, in which 71.51% of the share capital was held and approval was given by a majority of 89.65% of the votes cast; and (iii) the unsealing of the Articles of Association, in which 64.29% of the share capital was held and this change was rejected by a majority of the votes cast, with 56.61% voting against. III.7. The company does not adopt any measures that require payments or the assumption of costs by the company in the event of change of control or change in the composition of the management body and which are likely to damage the economic interest in the transfer of shares and the free assessment by shareholders of the performance of the Directors. ADOPTED There are no known measures that have the effect of jeopardising the free transferability of shares and the free assessment by shareholders of the performance of the members of the management body. Likewise, EDP has not entered into any significant agreements that come into force, are amended or terminate in the event of a change of control of the Company following a takeover bid, with the exception of normal market practice with regard to the issue of debt. In fact, EDP is usually a party to financing contracts and issuers of bonds that include change of control clauses, which are typical of such contracts and securities and appear to be necessary for the realisation of the transactions, and their existence is not considered likely to harm the economic interest in the transfer of EDP's shares, nor the free assessment by shareholders of the performance of directors. In addition, with regard to any measures adopted that determine payments or the assumption of charges by the Company in the event of a change in the composition of the management body, apart from the situations set out in the Remuneration Report, there are no contracts in force at EDP that provide for payments in the event of dismissal or termination by agreement of the duties of a director, nor any other measures that determine payments or the assumption of charges by EDP in the event of a change in the composition of the management body. Items 4 and 5 | Remuneration Report Recommendations Adopted Not Adopted Not Applicable Comments Report Description EDP Integrated Annual Report 2025 Corporate Governance | PART 2 - Assessment of Corporate Governance Index 251
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CHAPTER IV - MANAGEMENT Management Body and Executive Directors IV.1.1. The management body ensures that the company acts in accordance with its object and does not delegate powers, notably with regard to: i) definition of the corporate strategy and main policies of the company [IV.1.1. (1)]; ii) organisation and coordination of the corporate structure [IV.1.1. (2)]; iii) matters that shall be considered strategic due to the amounts, risk and particular characteristics involved [IV.1.1. (3)]. NOT APPLICABLE This recommendation is not applicable given the governance model in force at EDP. In fact, according to the dual governance model, the Executive Board of Directors does not delegate any of the matters referred to in this recommendation. Item 17 | Item 18 | Item 19 | Item 21 IV.1.2. The management body approves, by means of regulations or through an equivalent mechanism, the performance regime for executive directors applicable to the exercise of executive functions by them in entities outside the group. ADOPTED The Internal Regulations of the Executive Board of Directors expressly regulate this matter, and in particular article 7 provides that members of the Executive Board of Directors may not exercise executive functions in more than two companies not belonging to the EDP Group, and that their exercise must be subject to prior assessment by the Executive Board of Directors. Item 17 | Item 18 | Item 19 | Item 21 Management Body and Non-Executive Directors IV.2.1. Notwithstanding the legal duties of the chairman of the board of directors, if the latter is not independent, the independent directors – or, if there are not enough independent directors, the nonexecutive directors – shall appoint a coordinator among themselves to, in particular (i) act, whenever necessary, as interlocutor with the chairman of the board of directors and with the other directors, (ii) ensure that they have all the conditions and means required to carry out their duties, and (iii) coordinate their performance assessment by the administration body as provided for in Recommendation VI.1.1.; alternatively, the company may establish another equivalent mechanism to ensure such coordination. NOT APPLICABLE This recommendation is not applicable considering the Company’s governance model in force. IV.2.2. The number of non-executive members of the management body shall be adequate to the size of the company and the complexity of the risks inherent to its activity, but sufficient to ensure the efficient performance of the tasks entrusted to them, whereby the formulation of this adequacy judgement shall be included in the corporate governance report. NOT APPLICABLE This recommendation is not applicable considering the Company’s governance model in force. IV.2.3. The number of non-executive directors is greater than the number of executive directors. NOT APPLICABLE This recommendation is not applicable considering the Company’s governance model in force. IV.2.4. The number of non-executive directors that meet the independence requirements is plural and is not less than one third of the total number of non-executive directors. For the purposes of the present Recommendation, a person is deemed independent when not associated to any specific interest group in the company, nor in any circumstances liable to affect his/her impartiality of analysis or decision, in particular in virtue of: i. Having carried out, continuously or intermittently, functions in any corporate body of the company for more than twelve years, with this period being counted regardless of whether or not it coincides with the end of the mandate; ii. Having been an employee of the company or of a company that is controlled by or in a group relationship with the company in the last three years; iii. Having, in the last three years, provided services or established a significant business relationship with the company or with a company that is controlled by or in a group relationship with the company, either directly or as a partner, director, manager or officer of a legal person; iv. Being the beneficiary of remuneration paid by the company or by a company that is controlled by or in a group relationship with the company, in addition to remuneration stemming from the performance of the functions of director; v. Living in a non-marital partnership or being a spouse, relative or kin in a direct line and up to and including the 3rd degree, in a collateral line, of directors of the company, of directors of a legal person owning a qualifying stake in the company or of natural persons owning, directly or indirectly, a qualifying stake; vi. Being a holder of a qualifying stake or representative of a shareholder that is holder of a qualifying stake. NOT APPLICABLE This recommendation is not applicable considering the Company’s governance model in force. IV.2.5. The provisions of paragraph (i) of the previous Recommendation do not prevent the qualification of a new Director as independent if, between the end of his/her functions in any corporate body and his/her new appointment, at least three years have elapsed (cooling-off period). NOT APPLICABLE This recommendation is not applicable considering the Company’s governance model in force. Recommendations Adopted Not Adopted Not Applicable Comments Report Description EDP Integrated Annual Report 2025 Corporate Governance | PART 2 - Assessment of Corporate Governance Index 252
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CHAPTER V - SUPERVISION V.1. With due regard for the competences conferred to it by law, the supervisory body takes cognisance of the strategic guidelines [V.1. (1)] and evaluates and renders an opinion on the risk policy, prior to its final approval by the administration body [V.1. (2)]. ADOPTED Within the scope of the corporate governance model in force at EDP, the General and Supervisory Board also has a particularly important competence. In fact, although it does not have management powers, under the terms of Article 442(1) of the Companies Code, Article 18(2) of the Articles of Association establishes that the approval of EDP's strategic plan and the carrying out, by EDP or by companies controlled by EDP, of the following operations are subject to the prior favourable opinion of this corporate body (also in accordance with Article 15 of the Internal Regulations of the General and Supervisory Board): (i) acquisitions and disposals of assets, rights or shareholdings of significant economic value; (ii) contracting of financing of significant value; (iii) opening or closing of establishments or important parts of establishments and important extensions or reductions in activity; (iv) other businesses or operations of significant economic or strategic value; (v) establishment or termination of strategic partnerships or other forms of lasting co-operation; (vi) demerger, merger or transformation projects; and (vii) amendments to the Articles of Association, including the change of registered office and capital increase, when these are at the initiative of the Executive Board of Directors. In addition, the General and Supervisory Board, within the scope of its competences, takes cognisance of the Company's strategic lines, in accordance with the provisions of articles 14, no. 1 and 17, no. 9 of its Internal Regulations. It is also worth mentioning the specific competences of the Financial Matters Committee in relation to financial matters and accounting practices, sustainability policies, procedures and practices, especially those with an impact on reporting, internal auditing practices and procedures, the mechanisms and internal procedures of the Internal Control System for Financial Reporting (ICFS) and the Internal Control System for Sustainability Reporting (ICSRS), matters relating to the risk management and control system, the activities and mechanisms of the compliance management system, the activity, including the provision of non-audit services, and independence of the Statutory Auditor/Board of Statutory Auditors and the systems for assessing and resolving conflicts of interest, namely with regard to the company's relations with shareholders. The Financial Matters Committee is responsible for monitoring, on an ongoing basis, the assessment of internal procedures relating to the effectiveness of the risk management system, internal control and internal audit systems, and must assess and comment on the EDP Group's strategic guidelines [V.1. (1)] and corporate risk management policy prior to their final approval by the Executive Board of Directors [V.1. (2)], under the terms of Article 12.2 i) of the FMC Internal Regulations. The General and Supervisory Board is also involved in the EDP Group's Business Plan, implicitly ensuring alignment between management and shareholders with regard to the Group's risk appetite. The General and Supervisory Board is also regularly informed of key risk indicators in line with performance metrics, which allow it to monitor the evolution of the company's risk profile. Item 21 | Item 24 | Item 29 | Items 49 to 55 V.2. The number of members of the supervisory body [V.2. (1)] and of the financial matters committee [V.2. (2)] should be adequate in relation to the size of the company and the complexity of the risks inherent to its activity, but sufficient to ensure the efficiency of the tasks entrusted to them, and this adequacy judgement should be included in the corporate governance report. ADOPTED [V.2 (1)] The General and Supervisory Board is made up of the number of effective members that may be established in the respective election resolution, but always in excess of the number of members of the Executive Board of Directors, , pursuant to Article 22(1) of the Articles of Association. [V.2 (2)] In turn, the Financial Matters Committee will be made up of a minimum of 3 independent members in accordance with article 3 of the Internal Regulations of the Financial Matters Committee , which in both cases is entirely proportional to the characteristics of the Company. Item 15 | 17 | Item 21 | Item 29 CHAPTER VI - PERFORMANCE ASSESSMENT, REMUNERATION AND APPOINTMENTS Annual Performance Assessment VI.1.1. The management body – or committee with relevant powers, composed of a majority of non-executive members – evaluates its performance on an annual basis [VI.1.1. (1)], as well as the performance of the executive committee [VI.1.1. (2)], of the executive directors and of the company committees [VI.1.1. (3)], taking into account the compliance with the strategic plan of the company and of the budget, the risk management, its internal functioning and the contribution of each member to that end, and the relationship between the bodies and committees of the company. ADOPTED [VI.1.1.(1)] Under the terms of Article 5(4) of the Internal Regulations of the Executive Board of Directors , the Chairman of this Board must ensure the adoption of appropriate mechanisms for the annual assessment of the functioning of the Executive Board of Directors and the performance of each of its members. It should be reiterated that, in fulfilment of the above, EDP has voluntarily set up a formal and objective process for evaluating the activity of the Executive Board of Directors, which makes it possible to assess the degree of compliance with the measures adopted. This is a distinctive practice adopted by the General and Supervisory Board, which is in line with the assessment criteria of the Dow Jones Sustainability Index and corresponds to the recognition of the continued endeavour for excellence in corporate governance practices that the General and Supervisory Board and the Executive Board of Directors have been developing. It should be noted that this entire assessment process, namely the content, format of the questionnaire and the respective conclusions, was analysed and certified by an external consultant. At the beginning of each year, the members of the General and Supervisory Board are invited to fill in a questionnaire during an interview, in order to gauge their personal perception of the performance of the Executive Board of Directors. This questionnaire analyses the following dimensions: (i) composition and organisation; (ii) the performance of the Executive Board of Directors in its activity; (iii) the relationship between the Executive Board of Directors and the General and Supervisory Board; (iv) the relationship between the Executive Board of Directors and other interlocutors. The purpose of the questionnaire is to provide an objective basis for reflection, which can be used by the General and Supervisory Board for the purposes of drawing up the evaluation opinion of the Executive Board of Directors, which is then presented to EDP's shareholders for a vote. This evaluation can be found in the Annual Report of the General and Supervisory Board - Statement on the Evaluation Process of EDP's Executive Board of Directors. [VI.1.1.(2)] Not applicable. [VI.1.1.(3)] Not applicable. Item 21 | Item 24 e 25 | Item 27 | Item 29 | Item 52 | Item 54 | Remuneration Report Remunerations VI.2.1. The company constitutes a remuneration committee, whose composition shall ensure its independence from the board of directors, whereby it may be the remuneration committee appointed pursuant to Article 399 of the Portuguese Commercial Companies Code. ADOPTED The Remuneration Committee of the General and Supervisory Board is independent of management and aims to submit a proposal for the remuneration policy of the members of the Executive Board of Directors for approval by the General Meeting, at least every four years and whenever there is a significant change to the remuneration policy in force, as set out in article 27 of the Articles of Association and article 28 b) of the Internal Regulations of the General and Supervisory Board . In turn, the Remuneration Committee of the General Meeting is responsible for setting the remuneration of the governing bodies, namely the General and Supervisory Board and the specialised committees, with the exception of the members of the Executive Board of Directors, under the terms of the remuneration policy proposal to be submitted to the General Meeting for approval, as set out in Article 11 of the Articles of Association. Item 29 | Remuneration Report VI.2.2. The remuneration of the members of the management and supervisory bodies and of the company committees is established by the remuneration committee or by the general meeting, upon proposal of such committee. ADOPTED Item 29 | Remuneration Report VI.2.3. The company discloses in the corporate governance report, or in the remuneration report, the termination of office of any member of a body or committee of the company, indicating the amounts of all costs related to the termination of office borne by the company, for any reason, during the financial year in question. ADOPTED The Corporate Governance Report identifies the composition of the governing bodies and respective specialised committees, including reference to the termination of duties, either by end of term of office, resignation or any other form of termination. In turn, the Remuneration Report identifies the amounts of all the Company's charges related to the duties of the governing bodies and respective specialised committees of the Company in the financial year in question, based on the Remuneration Policy approved for the term in question. Item 29 | Items 69 to 88 | Remuneration Report Recommendations Adopted Not Adopted Not Applicable Comments Report Description EDP Integrated Annual Report 2025 Corporate Governance | PART 2 - Assessment of Corporate Governance Index 253
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VI.2.4. In order to provide information or clarification to shareholders, the president or another member of the remuneration committee shall be present at the annual general meeting and at any other general meeting at which the agenda includes a matter related to the remuneration of the members of bodies and committees of the company, or if such presence has been requested by shareholders. ADOPTED Article 5(2) of the Internal Regulations of the Remuneration Committee of the General and Supervisory Board expressly states that in order to provide information or clarification to shareholders, the Chairman or, if he is unable to do so, another member of the Remuneration Committee, shall attend the General Meeting and any other general meetings if the respective agenda includes a matter related to the remuneration of the members of the Company's bodies and committees or if such attendance has been requested by shareholders. A similar provision is laid down in Article 4(8) of the Internal Regulations of the Remuneration Committee appointed by the General Meeting. Item 29 | Remuneration Report VI.2.5. Within the budget constraints of the company, the remuneration committee may freely decide to hire, on behalf of the company, consultancy services that are necessary or convenient for the performance of its duties. ADOPTED Both the Remuneration Committee of the General and Supervisory Board and the Remuneration Committee appointed by the General Shareholders' Meeting freely decide on the hiring by the Company of consultancy services that are necessary or convenient for the performance of their duties, and this prerogative is provided for in article 4.6 of the Internal Regulations of the Remuneration Committee of the General and Supervisory Board and in article 4(5) and 4(6) of the Internal Regulations of the Remuneration Committee appointed by the General Shareholders' Meeting . In particular, the members of the Remuneration Committee appointed by the General Meeting may propose to the respective Chairman, in accordance with the budgeted amount, the hiring of technical services and specialists they deem necessary for the performance of their duties, under the terms of Article 10 (1) (b) of its Internal Regulations. Item 29 | Item 67 | Remuneration Report VI.2.6. The remuneration committee ensures that such services are provided independently. ADOPTED In accordance with Article 4 (5) of its Internal Regulations, the Remuneration Committee of the General and Supervisory Board ensures that consultancy services on remuneration matters are provided independently and that the respective providers will not be contracted to provide any other services to the Company itself or to others in a controlling or group relationship with it without the express authorisation of this Specialised Committee. In accordance with Article 4(6) of its Internal Regulations, the Remuneration Committee appointed by the General Meeting ensures that consultancy services on remuneration matters are provided independently and that the respective providers will not be contracted to provide any other services to the Company itself or to others in a control or group relationship with it without the express authorisation of the Committee. Item 29 | Remuneration Report VI.2.7. The providers of said services are not hired by the company itself or by any company controlled by or in group relationship with the company, for the provision of any other services related to the competencies of the remuneration committee, without the express authorisation of the committee. ADOPTED Item 29 | Remuneration Report VI.2.8. In view of the alignment of interests between the company and the executive directors, a part of their remuneration has a variable nature that reflects the sustained performance of the company and does not encourage excessive risk-taking. ADOPTED The fulfilment of this recommendation can be found in Item 69 of this chapter and in the Remuneration Report (Part IV). Items 69 and 70 | Remuneration Report VI.2.9. A significant part of the variable component is partially deferred over time, for a period of no less than three years, and is linked to the confirmation of the sustainability of performance, in terms defined in the remuneration policy of the company. ADOPTED The fulfilment of this recommendation can be found in Items 69, 70 and 72 of this chapter and in the Remuneration Report (Part IV). Item 69 | Items 70 and 72 | Remuneration Report VI.2.10. When the variable remuneration includes options or other instruments directly or indirectly subject to share value, the start of the exercise period is deferred for a period of no less than three years. NOT APPLICABLE There are no plans to award options or other instruments directly or indirectly dependent on the value of the shares. Items 85 to 88 | Remuneration Report VI.2.11. The remuneration of non-executive directors does not include any component whose value depends on the performance of the company or of its value. NOT APPLICABLE This recommendation is not applicable given the governance model in force at the Company. Appointments VI.3.1. The company promotes, in the terms it deems adequate, but in a manner susceptible of demonstration, that the proposals for the appointment of members of the corporate bodies are accompanied by grounds regarding the suitability of each of the candidates for the function to be performed. ADOPTED The Selection Policy for members of the General and Supervisory Board and the Executive Board of Directors in force, in line with best practice, aims to establish transparent and objective selection processes. The appointment of the members of the General and Supervisory Board and the Executive Board of Directors - although this is the responsibility of the General Meeting - is the result of an objective and transparent selection process that assesses the suitability of the candidates, individually and collectively, considering the legal and statutory competences of these governing bodies. Within the scope of the selection process, the integration of diverse skills, professional experience, diversity of knowledge, gender and cultures must be ensured, taking into account the specificities of the Company's business. The proposals for electing the members of the General and Supervisory Board and the Executive Board of Directors must be submitted to the General Meeting, duly substantiated, so that the shareholders can verify the suitability of the candidates' profile, knowledge and CV for the duties they are to fulfil. It is also worth highlighting the competences specifically provided for in the Internal Regulations of the Corporate Governance and Sustainability Committee, which give it the power to monitor, in coordination with the Executive Board of Directors, the definition of selection criteria, the establishment of the competences necessary for the structures and internal bodies of the Company, the Subsidiaries, as well as other entities in relation to which the Company has the right to appoint the members of the governing bodies, and their repercussions on the respective composition, in conjunction with EDP's Selection Policy and the criteria enshrined therein of merit, suitability for the position and diversity. In this regard, EDP effectively promotes the presentation of proposals for shareholder resolutions in accordance with the Selection Policy in force, which requires that the respective proposals be duly substantiated. Items 17 to 19 VI.3.2. The committee for the appointment of members of corporate bodies includes a majority of independent directors. NOT APPLICABLE This recommendation is not applicable considering the Company’s governance model in force. VI.3.3. Unless it is not justified by the size of the company, the task of monitoring and supporting the appointments of senior managers shall be assigned to an appointment committee. NOT APPLICABLE This recommendation is not applicable considering the Company’s governance model in force. Recommendations Adopted Not Adopted Not Applicable Comments Report Description EDP Integrated Annual Report 2025 Corporate Governance | PART 2 - Assessment of Corporate Governance Index 254
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VI.3.4. The committee for the appointment of senior management provides its terms of reference and promotes, to the extent of its powers, the adoption of transparent selection processes that include effective mechanisms for identifying potential candidates, and that for selection those are proposed who present the greatest merit, are best suited for the requirements of the position and promote, within the organisation, an adequate diversity including regarding gender equality. NOT APPLICABLE Under the terms of Article 23(1)(f) of the Company's Articles of Association and Article 14(1)(h) of the Internal Regulations of the General and Supervisory Board, this body is responsible, directly or through the Committees created for this purpose, for "monitoring the definition of criteria and competences required in the structures and internal bodies of the Company or the Group or appropriate to be observed and their repercussions on the respective composition, as well as the drawing up of succession plans". In fact, it is the Corporate Governance and Sustainability Committee that monitors the preparation, in coordination with the Executive Board of Directors, of succession plans for the management staff, structures and internal bodies of the Company and Subsidiaries, as well as other entities in relation to which EDP has the right to appoint the members of the governing bodies. In this regard, the objective is to identify in advance any need to reinforce human resources in order to ensure the continuity of the Company's regular operation. Items 17 to 19 | Annual Report of the General and Supervisory Board CHAPTER VII - INTERNAL CONTROL VII.1. The management body discusses and approves the strategic plan [VII.1. (1)] and risk policy of the company, which includes setting limits in matters of risk-taking [VII.1. (2)]. ADOPTED [VII.1. (1)] The Executive Board of Directors is ultimately responsible for deciding, supervising and controlling risk management, and is responsible for setting the EDP Group's management objectives and policies. Among other duties, it is responsible for approving the Business Plan, defining risk policies, namely the respective exposure limits by risk category and allocating resources according to the risk profile. In turn, the General and Supervisory Board is responsible for permanently monitoring and assessing the effectiveness of the risk management system. As provided for in Article 18(2) of the Company's Articles of Association , the approval of the strategic plan and the carrying out by the Company or Companies Controlled by EDP of the relevant operations shall be subject to the prior favourable opinion of the General and Supervisory Board. [VII.1. (2)] As stated in Article 4(2)(n) of its Internal Regulations , the Executive Board of Directors is responsible for "ensuring that the Company's risks are identified, assessed, controlled and managed, defining risk objectives, establishing the Company's risk profile and coordinating decisions on the management of material risks." To this extent, the setting of EDP's strategic objectives in terms of risk-taking must be analysed by the General and Supervisory Board and by the Financial Matters Committee on a proposal from the Executive Board of Directors, namely in the context of the assessment of the Company's business plan. The Executive Board of Directors must continually endeavour to improve the internal control and risk management systems, assessing their effectiveness and implementing the measures that are appropriate to strengthen the levels of quality assurance. It should also be noted that the Executive Board of Directors periodically reports to the General and Supervisory Board and the Financial Matters Committee on the identification and evolution of the main risks linked to EDP's activity, quantifying the impact and probability of occurrence of the risks considered relevant. Items 50 to 55 | Annual Report of the General and Supervisory Board VII.2. The company has a specialised committee or a committee composed of specialists in risk matters, which reports regularly to the management body ADOPTED The company has a Financial Matters Committee (FMC), appointed by resolution of the General and Supervisory Board, made up of independent members with appropriate professional qualifications for the sector in which the company operates and an adequate diversity of skills, knowledge and professional experience, as detailed in their CVs. In accordance with the Articles of Association and the Internal Regulations of the Financial Matters Committee and under the terms of the applicable legislation, this Committee's main mission, among others, is to permanently monitor and supervise matters relating to the risk management and control system. The Committee is also responsible for overseeing the effectiveness of risk management systems, as well as monitoring, with particular attention, significant exposures to financial and non-financial risks, such as ESG (Environmental, Social and Governance) risks. Under Article 12(2)(j) of its Internal Regulations, in the performance of its duties, the FMC shall also monitor the identification, assessment, control and management of risks and the assessment of the degree of internal compliance with the Company's risk management system, continuously monitoring its performance and effectiveness, in conjunction with the Executive Board of Directors, monitoring in particular the risk control policies, the identification of key risk indicators (KRI) and integrated risk assessment methodologies, and may request information deemed relevant from Risk, implementing the appropriate mechanisms and procedures for this purpose whenever necessary, and assessing and commenting on the strategic lines and corporate risk management policy of the EDP Group prior to their final approval by the Executive Board of Directors. In this regard, this Committee is authorised to propose measures to the General and Supervisory Board and the Executive Board of Directors aimed at improving the functioning of risk management systems. These functions and powers demonstrate the regular coordination between this specialised committee and the management body. EDP also has several quarterly Risk Committees (Global Risk Committee, Risk Monitoring Committee and Financial Risk Committee), which are entirely dedicated to discussing risk management issues, namely (i) sharing information on significant risks and the overall risk profile of the EDP Group, (ii) discussing the results of risk assessments carried out jointly with the Organisational Units, (iii) discussing and issuing opinions or recommendations on risk policies, risk limits or specific risks, (iv) promoting and monitoring the identification and assessment of key risks, and (v) approving the periodic reporting model to be submitted by the Organisational Units or Risk, as well as other monitoring mechanisms. These Committees meet quarterly and report to the Executive Board of Directors. They are composed of members of the Executive Board of Directors, heads of Business Enablement Functions relevant to the EDP Group's risk management (Corporate Finance, Financial Planning & Analysis, Strategy and M&A, Investor Relations & ESG, Internal Audit, Ethics & Compliance, Regulation, Markets and Stakeholders, and Safety, Security & Business Continuity) and heads of Platforms and Regions . In addition to these, the Chair of the Executive Board of Directors is also an invited member of all Risk Committee meetings, and the Chair of the FMC is an invited member of the Global Risk Committee. Item 21 | Item 29 | Annex I Recommendations Adopted Not Adopted Not Applicable Comments Report Description EDP Integrated Annual Report 2025 Corporate Governance | PART 2 - Assessment of Corporate Governance Index 255
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VII.3. The supervisory body is organised internally, implementing periodic control mechanisms and procedures, in order to ensure that the risks effectively incurred by the company are consistent with the objectives set by the administration body. ADOPTED In accordance with Article 12(2)(j) of the respective Internal Regulations, the Financial Matters Committee shall, in the performance of its duties, pay particular attention to monitoring the identification, assessment, control and management of risk and the assessment of the degree of internal compliance with the Company's risk management system, continuously monitoring its performance and effectiveness, in conjunction with the Executive Board of Directors, monitoring in particular the risk control policies, the identification of key risk indicators (KRI) and integrated risk assessment methodologies, and may request from Risk and the Risk Committees (Global Risk Committee, Financial Risk Committee and Risk Monitoring Committee) any information deemed relevant, implementing the appropriate mechanisms and procedures for this purpose whenever necessary. Risk monitoring ensures effective action on identified risks, both in terms of periodic control and reporting of the position in relation to the various risk factors, and in terms of the effective implementation of the policies, standards and procedures established for risk management. This exercise is the responsibility of the Executive Board of Directors and the various Platforms and Regions, with the CoEs (Centres of Excellence) and Risk Platform Business Partners being responsible for promoting and driving risk management and control actions, disseminating best practices and supporting the dissemination of concepts, methods, risk measures and key risk indicators (KRIs). In addition, Risk develops a set of periodic management information reports, which are disclosed to the Executive Board of Directors and the Platform Management Teams. These reports enable the organisation to regularly monitor KRIs that are aligned with performance metrics and, as such, reflect the risk profile at any given time. Furthermore, these indicators are subject to risk limits that are in turn aligned with the EDP Group's objectives and strategy, thus enabling it to be effectively implemented at the operational level. This information and the evolution of the Company's risk profile are also reported to the General and Supervisory Board, namely through the Risk Appetite dashboard, which is shared on a quarterly basis. Under the terms of Article 12(3) of the respective Internal Regulations, the Financial Matters Committee is authorised, within the scope of its functions, to propose to the General and Supervisory Board and the Executive Board of Directors measures aimed at ensuring the integrity of financial and sustainability information and improving the functioning of the internal audit, internal control of financial and sustainability information, risk management and compliance management systems. In addition, the Financial Matters Committee is also authorized to (i) propose to the General and Supervisory Board the hiring of independent experts and consultants in accordance with the budgeted amounts, (ii) carry out other procedures with the Company and its Subsidiaries or the Group, to the extent that such procedures are necessary for the fulfilment of its responsibilities, (iii) obtain, directly or indirectly through the Chairman of the General and Supervisory Board, all information necessary for the performance of its duties, (iv) attend meetings of the Executive Board of Directors, with attendance at meetings at which the financial statements for the financial year are reviewed being mandatory, (v) assess, on an annual basis, the activity and performance of Internal Audit, as well as the adequacy of working conditions, particularly in terms of human resources and technical means, (vi) assess, on an annual basis, the activity and performance of Ethics & Compliance, as well as the adequacy of working conditions, particularly in terms of human resources and technical means, (vii) review, on an annual basis, in coordination with the Executive Board of Directors, the Basic Internal Audit Standard, (viii) review and approve, every two years or whenever material changes occur, in coordination with the Executive Board of Directors, the Compliance Standard and (ix) permanently monitor the Company's communication to the Portuguese Institute of Statutory Auditors (OROC) regarding the conclusion of the respective contracts, the name of the Statutory Auditor, and the nature and duration of the service to be provided. Items 50 to 55 | Annual Report of the General and Supervisory Board VII.4. The internal control system, comprising the risk management, compliance, and internal audit functions, is structured in terms that are adequate to the size of the company and the complexity of the risks inherent to its activity, whereby the supervisory body shall assess it and, within the ambit of its duty to monitor the effectiveness of this system, propose any adjustments that may be deemed necessary. ADOPTED Item 50 | Items 52, 54 e 55 | Annual Report of the General and Supervisory Board VII.5. The company establishes procedures of supervision, periodic assessment and adjustment of the internal control system, including an annual assessment of the degree of internal compliance and performance of such system, as well as the prospects for changing the previously defined risk framework. ADOPTED As mentioned in the comments on recommendation VII.1, EDP's Executive Board of Directors should continuously endeavour to improve the internal control and risk management systems, assessing their effectiveness and implementing the measures that are appropriate to strengthen the levels of quality assurance. It should also be noted that the Executive Board of Directors periodically reports to the General and Supervisory Board and the Financial Matters Committee on the identification and evolution of the main risks linked to EDP's activity, quantifying the impact and probability of occurrence of the risks considered relevant. The Financial Matters Committee must, according to Article 12(2)(i) of its Rules of Procedure, monitor with particular attention the identification, assessment, control and management of risks and evaluate the degree of internal compliance. The Financial Matters Committee must, according to Article 12(2)(j) of its Internal Regulations , monitor with particular attention the identification, assessment, control and management of risks and the assessment of the degree of internal compliance, as well as continuously monitoring the performance and effectiveness of the company's risk management system, in conjunction with the Executive Board of Directors, namely monitoring risk control policies, the identification of key risk indicators (KRI) and integrated risk assessment methodologies, It may ask the Risk and the Risk Committee for any information deemed relevant and, whenever necessary, it must implement the appropriate mechanisms and procedures for this purpose, and it must assess and give its opinion on the EDP Group's strategic lines and corporate risk management policy prior to their final approval by the Executive Board of Directors. In addition to Article 12(1)(f) of the respective Internal Regulations, which specifically provides for the competence of the Financial Matters Committee to supervise the effectiveness of internal audit systems, internal control over financial reporting (ICFR), internal control over sustainability reporting (ICSRS), risk management, and compliance management, it should also be considered that the Financial Matters Committee is authorised to propose to the General and Supervisory Board and the Executive Board of Directors measures designed to guarantee the integrity of financial and sustainability information and improve the functioning of internal audit systems, internal control of financial and sustainability information, risk management and compliance management, in accordance with Article 12(3)(a) of the Internal Regulation. Article 12(3)(a). It is also the responsibility of the Financial Matters Committee, in accordance with Article 12(3)(f) of the corresponding Internal Regulations, to assess the activity and performance of the Internal Audit on an annual basis, as well as the suitability of working conditions, namely in terms of human resources and technical means. Items 50 to 55 VII.6. Based on its risk policy, the company sets up a risk management function, identifying (i) the main risks to which it is subject in the operation of its business [VII.6. (1)], (ii) the probability of their occurrence and respective impact [VII.6. (2)], (iii) the instruments and measures to be adopted in order to mitigate such risks [VII.6. (3)], and (iv) the monitoring procedures, aimed at following them up [VII.6. (4)]. ADOPTED EDP has several internal regulations that contain provisions on risk management strategy and policies. The EDP Group's Enterprise Risk Management Policy highlights specific information on the structure of enterprise risk management, the risk management process, corporate risk management tools and periodic updating. As for the document "Formalising a risk appetite in the EDP Group", the aim is to formalise and publicise EDP's approach to risk, as an important element of alignment and transparency with shareholders and other stakeholders, as well as explaining the pillar of controlled risk. For more information, please see: Risk Management Policy .[VII.6.(1)] Item 53 of this Report and Section 3.2.3. of the Annual Integrated Report set out the main risks to which EDP is subject in the course of its business.In addition, it also presents the main risks for the following year in a stress scenario, combining probability and impact. [VII.6.(2)] Within the scope of Section 3.2.3. of the Annual Integrated Report, EDP identifies the probability of occurrence of some of the risks associated with the activity and the respective impact. [VII.6.(3)] With regard to the instruments and measures to be adopted with a view to mitigating the risk, EDP accepts this sub-recommendation as it results from the integrated reading of Item 53 of this Report and Section 3.2.3. of the Annual Integrated Report. [VII.6.(4)] Acceptance of the sub-recommendation regarding monitoring procedures, with a view to the respective follow-up, is supported under the terms of Item 54 of this Report and Section 3.2.3. of the Annual Integrated Report, the corresponding risk management being structured in six main phases, the "monitoring" phase being the penultimate of these. Item 50 | Items 53 and 54 Recommendations Adopted Not Adopted Not Applicable Comments Report Description EDP Integrated Annual Report 2025 Corporate Governance | PART 2 - Assessment of Corporate Governance Index 256
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VII.7. The company establishes processes to collect and process data related to the environmental and social sustainability in order to alert the management body to risks that the company may be incurring and propose strategies for their mitigation. ADOPTED During 2023, EDP began the process of preparing the Company for sustainability reporting under Directive (EU) 2022/2464 of the European Parliament and of the Council of 14 December 2022 - Corporate Sustainability Reporting Directive (CSRD). In this context, in 2025, EDP continued to implement the Sustainability Reporting Internal Control System (SCIRS), with the aim of strengthening the reliability, accuracy and integrity of sustainability disclosures, in accordance with legal requirements and international best practices. Although EDP has had a sustainability governance model for several decades, in 2006, with the adoption of a dual governance model, the General and Supervisory Board was set up to monitor and supervise EDP's management, as well as a specialised committee - the Corporate Governance and Sustainability Committee - with the mission of permanently monitoring and supervising matters relating to sustainability in all its dimensions. Although EDP has had a sustainability governance model for several decades, in 2006, with the adoption of a dual governance model, the General and Supervisory Board was set up to monitor and supervise EDP's management, as well as a specialised committee - the Corporate Governance and Sustainability Committee - with the mission of permanently monitoring and supervising matters relating to sustain-ability in all its dimensions. Therefore, under the terms of article 12.1 d) of the respective Internal Regulations, it is the responsibility of the Corporate Governance and Sustainability Committee to support and monitor the definition of sustainability policies and strategies, in its three Environmental, Social and Governance (ESG) dimensions, as well as their implementation, making any recommendations deemed appropriate to the General and Supervisory Board and the Executive Board of Directors. In turn, the Executive Board of Directors is supported in the management of its activities by the Investor Relations & ESG and the Sustainability Committee, whose main duties are to (i) share information and dis-cuss the implications of the main legislative packages on sustainability, (ii) share the evolution of the Group's ESG performance indicators and the respective benchmarks, (iii) discuss and issue an opinion on the development and updating of the sustainability policies of the Group's companies, (iv) discuss and issue an opinion on the annual action plans, as well as on the objectives and targets to be achieved by the EDP Group and (v) monitor the development of the approved action plans and the activities of the sustainability management structures of the EDP Group's companies. Sustainability in the EDP Group is organised with the aim of establishing close communication between the corporate structure and the functional structures, enhancing the flow of information and the operationalisation of its strategy, and its organisation is described on the respective corporate website. Item 21 | Items 50 to 55 | Sustainability Statement of the Integrated Annual Report VII.8. The company reports on how climate change is considered within the organisation and how it takes into account the analysis of climate risk in the decision- making processes. ADOPTED To highlight the role and impact of EDP's Climate Strategy, a Net Zero Acceleration Programme (NZAP) was developed to frame the Climate Transition Plan adopted at EDP Group level in 2023. At EDP's General Shareholders’ Meeting held on 10 April 2024 considered the Climate Transition Plan - Progress Report 2023, following the Company's commitment in 2023 to achieve Net-Zero by 2040, reducing its CO2 emissions in absolute terms by 90% compared to the base year 2020, including scopes 1, 2 and 3, based on the description of climate metrics and targets, the global climate governance in place and the identification of strategic levers to align implementation with global climate commitments, with this report aiming to provide a comprehensive account of material progress throughout 2023, against the base year 2020, and performance in 2022. On a quarterly basis, EDP informs the market and the general public about the progress of this plan, for key CO 2 indicators through its ESG Report and, annually, in the Integrated Report with a broader stakeholder approach. In line with the 2026-2028 Business Plan and regulatory developments, an update to the Climate Transition Plan was approved in 2025. Monitoring of the objectives is carried out and disclosed in the Sustainability Statement (E1 Climate Change), which also includes monitoring the implementation of the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). The climate transition is intrinsic to EDP's business, with an internal governance model established to ensure a resilient climate strategy, its effective implementation and a monitoring system capable of tracking performance efficiently. In this regard, the General Supervisory Board oversees the implementation of EDP's Climate Strategy through its Corporate Governance and Sustainability Committee, which is responsible for discussing ESG topics between three and four times a year, with Climate at the top of this agenda. The Remuneration Policy for the members of the Executive Board of Directors, proposed by the Remuneration Committee of the General and Supervisory Board and approved by the General Meeting at least every four years, establishes a fixed component and a variable component, the latter including ESG key performance indicators (KPIs), such as the Climate KPI, which are aligned with the Company's current Business Plan and are applicable for the 2024-2026 term of office, including, namely, EDP's performance in the Dow Jones Sustainability Index, the CO2 intensity reduction target, the installed renewable energy capacity, aligned with public commitments, and the performance of the Bloomberg Gender Diversity Index. The Executive Board of Directors plays a central role in approving the EDP Group's Business Plan, as well as in its execution, foreseeing the decarbonisation path, supported by a global risk management process aligned with different climate scenarios. Before approval, the sustainability strategy is prepared by Investor Relations & ESG, supported by the Risk and Regulation, Markets and Stakeholders Management Divisions. In addition, with the involvement of the main Business Units, the Sustainability Committee discusses the proposed sustainability strategy prior to its approval. Sustainability Statement of the Integrated Annual Report | Annual Report of the General and Supervisory Board VII.9. The company informs in the corporate governance report on the manner in which artificial intelligence mechanisms have been used as a decision-making tool by the corporate bodies. ADOPTED EDP does not have an automatic mechanism, including artificial intelligence systems, to support decision-making by its governing bodies, which is always based on human judgement. Nevertheless, it should be noted that the Company takes advantage of data, analytics and artificial intelligence practices applied in various aspects of its activity, namely in asset management, management support and process digitisation and automation. With regard to the governance of intelligent models and systems, a model has been established to ensure the life cycle of these digital assets, their cataloguing and documentation, as well as an operational model that incorporates the principles of responsible use of artificial intelligence. The Company remains committed to closely monitoring developments in the artificial intelligence market, as well as emerging trends in the use of artificial intelligence in decision-making processes. EDP is committed to maintaining a proactive stance, closely monitoring technological innovations and developments in this field, and has sought to establish guidelines for the use of AI applications in a professional context, based on principles that ensure the safe, compatible and reliable use of these technologies. In this regard, in 2025, EDP reinforced this commitment with the approval of its Responsible Artificial Intelligence (AI) Policy, which defines principles for the ethical, safe, and transparent use of artificial intelligence, ensuring regulatory compliance and risk mitigation. Implementation is ensured through multidisciplinary teams that bring together experts in technology, security, business, ethics, legal, and compliance, ensuring an integrated and robust approach. Sustainability Statement of the Integrated Annual Report VII.10. The supervisory body pronounces on the work plans and resources allocated to the services of the internal control system, including the risk management, compliance, and internal audit functions, and may propose adjustments as deemed necessary. ADOPTED Item 50 | Items 53 to 54 | Annual Report of the General and Supervisory Board Recommendations Adopted Not Adopted Not Applicable Comments Report Description EDP Integrated Annual Report 2025 Corporate Governance | PART 2 - Assessment of Corporate Governance Index 257
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VII.11. The supervisory body is the addressee of reports made by the internal control services, including the risk management, compliance, and internal audit functions, at least when matters related to accountability, identification or resolution of conflicts of interest and detection of potential irregularities are concerned. ADOPTED Under the terms of Article 12(1)(v) of the Internal Regulation, the Financial Matters Committee is responsible for supervising and monitoring the company's financial statements, on an individual or consolidated basis, taking into account any recommendations made by the company. Under the terms of Article 12(1)(r) of the respective Internal Regulations, the Financial Matters Committee is responsible for supervising and monitoring the company's financial statements, on an individual or consolidated basis, taking into account any recommendations from the Portuguese Securities Market Commission (CMVM) and assessing the content of the annual reports on conclusions, certification of accounts and audits and the additional report to the supervisory body, together with the Statutory Auditor, and the Financial Matters Committee must be the first recipient of these reports, The Financial Matters Committee should be the first recipient of these reports, namely with regard to any reservations made, for the purposes of making recommendations to the General and Supervisory Board and the Executive Board of Directors, and should also be the recipient of the reports drawn up by the internal control services, including the risk management, compliance and internal audit functions, at least when matters relating to the rendering of accounts, the identification or resolution of conflicts of interest and the detection of potential irregularities are involved. The Financial Matters Committee must also guarantee the activity and independence of the Statutory Auditor/Audit Firm, under the terms of Annex II of the aforementioned Rules of Procedure and the applicable legislation and regulations, in order to assess their independence and compliance with the legal, regulatory and contractual provisions and the principles and good practices governing the actions of audit firms and their representatives towards auditees. Item 50 | Items 53 and 54 | Annual Report of the General and Supervisory Board CHAPTER VIII - INFORMATION AND STATUTORY AUDIT OF ACCOUNTS Information VIII.1.1. The regulations of the supervisory body requires that the supervisory body monitors the suitability of the process of preparation and disclosure of information by the management body, including the appropriateness of accounting policies, estimates, judgements, relevant disclosures and their consistent application from financial year to financial year, in a duly documented and reported manner. ADOPTED Since 2023, and in anticipation of the transposition of Directive (EU) 2022/2464, of the European Parliament and of the Council, of 14 December 2022 - Corporate Sustainability Reporting Directive (CSRD), EDP has opted to disclose an Integrated Report (for the 2022 financial year), which includes financial and non-financial information (or information on sustainability), so the adequacy of the preparation and disclosure process is supervised by the General and Supervisory Board, both for financial and non-financial information, given the uniqueness of the Report, issuing an opinion on it (article 14, paragraph 1, subparagraphs 1 and 2). Article 14(1)(e), (k) and (w) of the respective Internal Regulations ). In Article 12(1)(i)(j) of the Internal Regulations of the Financial Matters Committee , it is empowered to supervise the adequacy of the financial and sustainability information preparation and disclosure process and to prepare a report for the General and Supervisory Board, which includes the Financial Matters Committee and its role in overseeing this process, namely regarding the adequacy of accounting policies, estimates, judgements, relevant disclosures and their consistent application between financial years and on ensuring the reliability of sustainability reporting. The Internal Regulations of the Corporate Governance and Sustainability Committee set out in Article 2(1)(b) its mission to permanently monitor and supervise matters relating to sustainability in all its dimensions. To support and monitor the definition of the company's sustainability policies and strategies, in their three dimensions of Environmental, Social and Governance (ESG), as well as their implementation, making recommendations to the General and Supervisory Board and the Executive Board of Directors deemed appropriate in this regard, and to monitor and conduct regular analyses of the main trends and developments in regulations and best practices in ESG matters that are relevant to the company's activity (article 12.1 d) and e) of the respective Internal Regulations). For its part, the Financial Matters Committee, in accordance with Article 12(2)(b), (f) and (g) of the respective Internal Regulations, is responsible for monitoring the definition of sustainability policies and strategies in their different dimensions with an impact on sustainability reporting, significant exposures to financial and non-financial risks, namely ESG risks, and the development of good corporate governance practices in terms of the internal control system for financial and sustainability information. In this regard, the General and Supervisory Board, following the supervision and monitoring of information and the issuing of the respective opinions by the Financial Matters Committee and the Corporate Governance and Sustainability Committee, supervises the adequacy of the process for preparing and disclosing financial and sustainability information (article 14(1,)(v) of the respective Internal Regulations). Item 21 | Item 27 | Item 29 | Item 46 | Item 50 | Item 55 Statutory Audit and Supervision VIII.2.1. By means of regulation, the supervisory body defines, in accordance with the applicable legal regime, the supervisory procedures to ensure the independence of the statutory auditor. ADOPTED The duties of the Financial Matters Committee are set out in Article 12 of the respective Internal Regulations . This specialised committee must guarantee the activity and independence of the Statutory Auditor, under the terms of the applicable legislation and regulations, in order to assess their independence and compliance with legal provisions, and contractual provisions and the principles and good practices that govern the actions of audit firms and their representatives in relation to auditees, as well as approving the provision of audit and non-audit services by the Statutory Auditor to the Company or Subsidiaries, ensuring a verification of current limitations and an adequate prior assessment of the threats to the Statutory Auditor's independence that the provision of these services may cause and the safeguards applied or to be applied to mitigate them. In carrying out its duties, the Financial Matters Committee shall monitor, with special attention, the activity and contractual relations with the Statutory Auditor, without interfering in the performance of its duties, and may make recommendations or request clarifications within the scope of the relationship between the General and Supervisory Board, the Executive Board of Directors and the Statutory Auditor, in relation to financial and sustainability information, as well as monitoring and assessing, under the legal terms, the objectivity and independence of the Statutory Auditor, namely with regard to the provision of non-audit services. It is also worth highlighting Article 12(1)(i)(j), which gives this corporate structure the power to supervise the adequacy of the financial sustainability information preparation and disclosure process and also to prepare a report for the General and Supervisory Board, which includes the Financial Matters Committee and its role in overseeing this process, including in particular the appropriateness of accounting policies, estimates, judgements, relevant disclosures and their consistent application from year to year, and ensuring the reliability of sustainability reporting. In addition, EDP has a Regulation on the Provision of Services by the Statutory Auditor or Firm of Statutory Auditors which defines and promotes criteria and methodologies for safeguarding the independence of the Statutory Auditor and the Firm of Statutory Auditors in the provision of the respective Audit Services and Non- Audit Services (SDA) to EDP or the entities under its control. These regulations can be consulted on EDP's website. The supervisory procedures designed to ensure the independence of the Statutory Auditor are set out in the Regulation on the provision of services by the Statutory Auditor or Statutory Audit Firm, as well as in Annex II to the Internal Regulation of the Financial Matters Committee, which specifically provides for the annual assessment process of the Company's Statutory Auditor. Items 39 to 41 Recommendations Adopted Not Adopted Not Applicable Comments Report Description EDP Integrated Annual Report 2025 Corporate Governance | PART 2 - Assessment of Corporate Governance Index 258
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VIII.2.2. The supervisory body is the main interlocutor of the statutory auditor within the company and the first addressee of the respective reports [VIII.2.2. (1)], and is competent, namely, for proposing the respective remuneration and ensuring that adequate conditions for the provision of the services are in place within the company [VIII.2.2. (2)]. ADOPTED [VIII.2.2 (1)] The Financial Matters Committee is responsible for assessing the content of the annual reports certifying the accounts (Article 12(1)(r) of the respective Internal Regulation) and [VIII.2.2 (2)] shall monitor, with special attention, the activity and contractual relations with the Statutory Auditor, without interfering in the performance of its duties, and may make recommendations or request clarifications within the scope of the relationship between the General and Supervisory Board, the Executive Board of Directors and the Statutory Auditor, in relation to financial information, as well as monitor and assess, under the legal terms, the objectivity and independence of the Statutory Auditor, namely with regard to the provision of non-audit services (Article 12 (2) (k) of the respective Internal Regulations). In addition, the aforementioned Internal Regulations lay down specific powers for the Financial Matters Committee to propose to the General and Supervisory Board the hiring and dismissal of the Statutory Auditor, as well as the respective remuneration (Article 12(1)(u)). Item 21 | Item 29 VIII.2.3. The supervisory body annually evaluates the work carried out by the statutory auditor, its independence and suitability for the exercise of its functions and shall propose to the competent body its dismissal or termination of the contract for the provision of its services whenever there is just cause to do so. ADOPTED In its Internal Regulations, the Financial Matters Committee has specific prerogatives and competences to assess the work carried out by the Statutory Auditor on an annual basis, namely (i) proposing to the General and Supervisory Board the hiring and dismissal of the Statutory Auditor, as well as the respective remuneration (Article 12, (1) (u), (ii) issuing a reasoned opinion on the renewal or extension of the Statutory Auditor's mandate at the end of each term of office. (ii) issuing a reasoned opinion, under the terms of the applicable legislation, on the renewal or extension of the Statutory Auditor's mandate at the end of each mandate, to be presented to the General and Supervisory Board (Article 12(1)(t)), (iii) monitoring with special attention the activity and contractual relations with the Statutory Auditor, without interfering in the performance of its duties, and may make recommendations or request clarifications within the scope of the relationship between the General and Supervisory Board, the Executive Board of Directors and the Statutory Auditor, in relation to financial information, as well as monitoring and assessing, under the legal terms, the objectivity and independence of the Statutory Auditor, namely with regard to the provision of non- audit services (Article 12(2)(k)). (iv) guaranteeing the activity and independence of the Statutory Auditor, in order to assess their independence and compliance with the legal, regulatory and contractual provisions and the principles and good practices governing the actions of audit firms and their representatives vis-à-vis auditees (Article 12(1)(w)). (v) approving the provision of audit and non-audit services by the Statutory Auditor to the Company or its Subsidiaries, ensuring verification of the limitations in force and an adequate prior assessment of the threats to the Statutory Auditor's independence that the provision of these services may cause, and the safeguards applied or to be applied to mitigate them (Article 12(1)(x)). During this financial year, the annual assessment of EDP's Statutory Auditor was carried out, in accordance with Annex II to the Internal Regulations of the Financial Matters Committee. Item 21 | Item 29 | Item 45 Recommendations Adopted Not Adopted Not Applicable Comments Report Description EDP Integrated Annual Report 2025 Corporate Governance | PART 2 - Assessment of Corporate Governance Index 259
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3. Other information The following documents are attached to this Report, forming an integral part thereof: Annex I – Brief curricula of the members of the General and Supervisory Board and the Executive Board of Directors Annex II - Attendance list of the meetings of the General and Supervisory Board Annex III - Attendance list of the meetings of the Executive Board of Directors Annex IV - Positions held in other companies Annex V – Attendance lists for the: • Financial Matters Committee • Remuneration Committee of the General and Supervisory Board • Corporate Governance and Sustainability Committee • United States of America Business Affairs Monitoring Committee EDP Integrated Annual Report 2025 Corporate Governance | PART 2 - Assessment of Corporate Governance Index 260
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Annex I. Biography of the members of the Governing Bodies General and Supervisory Board EDP Integrated Annual Report 2025 Corporate Governance | Annexes Index 261 António Lobo Xavier Chair and Independent Member of the General and Supervisory Board Committees Corporate Governance and Sustainability Committee Chair USA Business Affairs Monitoring Committee Chair Academic qualifications Master’s in Legal and Economic Sciences - University of Coimbra, 1988 IMD, Executive Leadership (2004) Bachelor’s in Law - University of Coimbra, 1982 Current appointments external to EDP Vice-Chairman of the Board of Directors of Sogrape, SGPS, S.A. (2023) Non-Executive Director of BA Glass – Serviços de Gestão e Investimento, S.A. (2017) Member of the Board of Trustees of Fundação Belmiro de Azevedo (2017) Non-Executive Director, Banco BPI, S.A. (2017) Member of the Audit Committee, Banco BPI, S.A. (2017) State Councillor, appointed by the current President of the Portuguese Republic (2017) Member of the Board of Trustees of Fundação Francisco Manuel dos Santos (2013) Non-Executive Director of NOS SGPS, S.A. (2013) EDP background Chair of the General and Supervisory Board since April 2024 Past experience • Chairman of the General Assembly of Greenvolt (2021-2024) • Vice-Chairman of the Board of Directors of Banco BPI, S.A. (2017-2024) • Non-Executive Director of the Board of Directors of Sonaecom, SGPS, SA (2017 - 2018) • Non-Executive Director of the Board of Directors of Fundação Casa da Música (2015 – 2021) • Chairman of the Supervisory Board of Tabaqueira II, S.A. (2014 - 2017) • Chairman of the Audit Committee of Banco BPI, S.A. (2012-2017) • Member of the Board of Directors of Vallis Capital Partners, SGPS, S.A. (2010-2014) • Non-Executive Director of the Board of Directors of Riopele Têxteis, S.A. (2009-2024) • Partner at Morais Leitão, Galvão Teles, Soares da Silva & Associados, R.L. (Law Firm) (2006-2024) • Executive Director of Sonaecom SGPS, S.A., Responsible for Legal, Regulatory and Sustainability areas (2004-2010) • Member of the Board of Directors of Mota-Engil, SGPS, S.A. (2000-2020) • Vice-Chairman of the Board of Directors of Fundação de Serralves (2000-2010) • Executive Director of SIVA, SGPS, Responsible for Investor Relations and Taxation (1996-1999) • Assistant Professor at the Faculty of Law of the University of Coimbra (Public Finance, Tax Law, European Tax Harmonization) (1983-1994) Shengliang Wu Non-Independent Member of the General and Supervisory Board Committees — Academic qualifications Bachelor’s degree in Engineering –Wuhan University (1992) Master’s degree in Technical Economics and Management – Chongqing University (2000) Current appointments external to EDP Executive Vice President – China Three Gorges Corporation (since 2024) EDP background General and Supervisory Board Member, in representation of China Three Gorges International (Europe), S.A. (February 2012 – April 2015) General and Supervisory Board Member, in representation of China Three Gorges (Portugal), Sociedade Unipessoal, Lda (April 2015 - April 2018) General and Supervisory Board Member, in representation of China Three Gorges (Europe), SA (April 2018 - December 2018) General and Supervisory Board Member, in representation of China Three Gorges International Corporation, (December 2018 - April 2021) General and Supervisory Board Member, in representation of China Three Gorges International Limited, (April 2021 - to date) Past experience • Secretary of Corporate Affairs Department - Gezhouba Hydropower Plant (1998-2000) • Deputy Director of the Board - China Yangtze Power Company (2002-2003) • Director of Capital Operating Department - China Yangtze Power Company (2004-2006) • Executive Vice-President - Beijing Yangtze Power Capital Co Ltd (2006-2011) • Deputy Director of Strategic Planning Department – China Three Gorges Corporation (2011-2015) • Executive Vice-President - China Three Gorges International Corporation (2015-2020) • Chairman - China Three Gorges (Europe), SA (2015-2020) • Chairman – China Three Gorges International Limited (2020-2024) • Chairman – China Three Gorges International Corporation (2022-2024) • Executive Vice President – China Three Gorges Corporation (since 2024) Guobin Qin Non-Independent Member of the General and Supervisory Board Committees Corporate Governance and Sustainability Committee Member Academic qualifications Master's in Business Administration - University of International Business and Economics (2001 – 2004) Bachelor's in Engineering - Wuhan University (1984 – 1988) Current appointments external to EDP Executive President - China Three Gorges International (since 2024) EDP background Member of the General and Supervisory Board since April 2024 Past experience • Executive Vice President - China Three Gorges International (2015-2024) • President - CYPC International (Hong Kong) (2011-2015) • Deputy Director of the International Cooperation Department - China Three Gorges Corp. (2009-2011) • General Director of the International Department No. 3 - China International Water & Electric Corp (2006-2009) • CEO - China International Water & Electric Corporation (Malaysia) (2004-2006) • General Director of the Business Administration Department - China International Water & Electric Corporation (2001-2004)
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EDP Integrated Annual Report 2025 Corporate Governance | Annexes Index 262 Hui Zhang Non-Independent Member of the General and Supervisory Board Committees – Academic qualifications Bachelor of Economics - Chongqing Institute of Industrial Management (1993-97) Master of Science in Management - Zhongnan University of Economics and Law (2006-08) Current appointments external to EDP Deputy Director of Finance and Asset Management Department - China Three Gorges Corporation - (since February 2025) EDP background Member of the General and Supervisory Board, in representation of China Three Gorges Brasil Energia S.A., since December 2022 Past experience • Cashier of Operations Section - Gezhouba Power Plant Maintenance Branch – (1997-98) • Cashier of Finance Section - Gezhouba Power Plant Dajiang Branch - (1998) • Accountant of Operations Section - Gezhouba Power Plant Maintenance Branch (1998-00) • Accountant of Finance Section - Gezhouba Power Plant Maintenance Branch (2000-02) • General Accountant of Ledger Statement Supervisor Accounting - China Yangtze Power Co. (2003-06) • Head of Assets and Insurance of Finance Department - China Yangtze Power Co., Ltd. (2006-09) • Deputy Director of Xiba Accounting Center - China Yangtze Power Co., Ltd. (2009-11) • Accounting Director of Finance Department - China Yangtze Power Co., Ltd. (2011-15) • General auditor of Finance Department - China Yangtze Power Co., Ltd. (2015-16) • Deputy Manager of Finance Department - China Yangtze Power Co., Ltd. (2016-17) • Assistant General Manager - Three Gorges Power Co., Ltd. (2017-18) • Vice General Manager - Three Gorges Power Co., Ltd. (2018-20) • Deputy Office Director - China Yangtze Power Co., Ltd. Andes Project (2020) • Chief Accountant and Party Committee Member - Shanghai Survey, Design and Research Institute Co., Ltd. (2020-22) • Deputy Director of M&A Department - China Three Gorges Corporation - (2022-2025) Ignacio Herrero Ruiz Non-Independent Member of the General and Supervisory Board Committees Corporate Governance and Sustainability Committee Member Academic qualifications Degree in Economics - Carlos III University (Madrid) (1997) Current appointments external to EDP Chief Executive Officer in China Three Gorges Corporation (Europe), SA (since 2020)(1) Holds other senior positions within China Three Gorges Corporation’s group companies in Europe and Latin America EDP background Memberof the General and Supervisory Board, in representation of China Three Gorges (Europe), SA, since December 2018 Past experience Credit Risk Management Department - Citigroup (1997-1998) Mergers and Acquisitions Department - Deutsche Bank (1998- 2007) European Energy Group - Credit Suisse (2007-2016) (1) Ignacio Herrero Ruiz is not a member of the Board of Directors of China Three Gorges (Europe), S.A. Miguel Espregueira Mendes Pereira Leite Non-Independent Member of the General and Supervisory Board Committees Remuneration Committee Chair Academic qualifications Degree in Law - Portuguese Catholic University (1987) Management Course – Executive Program - PBS – Porto Business School (1996) Current appointments external to EDP Chairman and CEO - Atlantic SGOIC, SA (since 2005) Board Member - Liminorke SA (since 2009) EDP background Member of the General and Supervisory Board , in representation of China Three Gorges (Portugal), Sociedade Unipessoal, Lda, since April 2021 Past experience • Founder - Atlantic SGOIC, SA (2005) • Chairman and CEO - Morgan Stanley Portugal SGFIM SA (2001-2003) • Head of Morgan Stanley´s local operation in Portugal (1999-2003) • Manager - Morgan Stanley – Portugal (Holding) (2001-2003) • Management Committee - Morgan Stanley SV SA (Spain) (2000-2003) • Executive Director - Morgan Stanley International (2001-2003) • Board Member - Banco Chemical Finance (1998-1999) • Member of the Executive Committee - Banco Chemical Finance (1998-1999) • Managing Director - private banking division of Banco Pinto & Sotto Mayor (1996-1999) • Managing Director - private banking division of Banco Totta & Açores (nowadays Bank Santander Portugal) (1998-1999) • Chairman of the Board - MC Geste - Asset Management Company (latter on called Santander Gest SGP) (1997-1999) • Private banking director - Millennium BCP (1987-1996) • Chairman – Oporto Municipal Assembly from 2014 to 2021
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EDP Integrated Annual Report 2025 Corporate Governance | Annexes Index 263 Fernando María Masaveu Herrero Non-Independent Member of the General and Supervisory Board Committees Corporate Governance and Sustainability Committee Member Remuneration Committee Member Academic qualifications Law Degree – Navarra University (1992) Current appointments external to EDP Chairman - Masaveu Corporation Chairman - Cementos Tudela Veguín Chairman of the Board – Oppidum Capital Chairman of the Board of the American companies - Masaveu Real Estate US Delaware LLC, Oppidum Renewables USA Inc and Oppidum Green Energy USA LLC Chairman of the Board – Hidrocantabrico JV, S.L. Chairman of the Board – Aboño Generaciones Eléctricas, S.L.U. Chairman of the Board – Texan Cement Inc Board Member – EGEO Internacional and EGEO, SGPS Board Member – EDP España Joint Manager – Flicka Forestal Chairman of the Board – Perses Energy Solutions, S.L. Board Member – Bankinter Executive Committee Member – Bankinter Remuneration Committee Member – Bankinter Board Member – Línea Directa Aseguradora Chairman - Maria Cristina Masaveu Peterson Foundation Chairman - San Ignacio de Loyola Foundation Trustee – Princess of Asturias Foundation Trustee – Pro-RAE Foundation Delegate Committee Member - Princess of Asturias Foundation Assets Committee Member - Princess of Asturias Foundation Member of the International Council – MET, New York International Trustee – Friends of the Prado Museum Association Ambassador of “Marca Ejército” EDP background Member of the General and Supervisory Board , since February 2012 (re- elected in April 2015, April 2018, April 2021 and April 2024) Past experience Chairman on several companies of Masaveu Group in numerous fields such as energy, finance, industrial, cement and real state, among others Victor Roza Fresno Non-Independent Member of the General and Supervisory Board Committees Financial Matters Committee Member USA Business Affairs Monitoring Committee Member Academic qualifications Degree in Economic and Business Sciences from the University of Oviedo Diploma in Strategic Management, Marketing, and Commercialization from ESADE Current appointments external to EDP Member of the Board of Directors and member of the Nominations and Remunerations Committee of EDP Redes España, S.L. (2020) Member of the Investment Committee of the María Cristina Masaveu Petersen Foundation (2018) Member of the Board of Directors of Masaveu Real Estate US LLC and all its subsidiaries (2015) Member of the Board of Directors of Masaveu Inmobiliaria (2014) Member of the Board of Directors of Masaveu Bodegas S.L. (2014) Member of the Board of Directors of Agrocortex Maderas de Brazil Ltd. (2014) Member of the Board of Directors of Aprovechamientos Dasocráticos Sostenibles S.L. (2014) Member of the Board of Directors of Masaveu de Investimentos Ltd. (2011) Member of the Board of Directors of Masaveu Internacional S.L. (2011) Member of the Board of Directors of Medicina Asturiana S.A. (2011) Member of the Board of Directors of Cementos Tudela Veguin S.A. (2011) Corporate General Director of Corporación Masaveu S.A. (2011) EDP background Member of the General and Supervisory Board since April 2024 Past experience • Member of the Board of Directors of Liberbank (2011-2018) • Director of Corporate Operations and Investor Relations at General de Alquiler de Maquinaria (GAM) and Member of the Board of Directors of GAM Portugal (2007-2011) • Assistant Professor at the Faculty of Economic and Business Sciences at the University of Oviedo (2005) • Technician in the Audit Department of Renta 4 SVB Securities Company (2003-2005) • Member of the Board of Directors and the Audit and Control Committee of Lico Leasing S.A. E.F.C. (2000-2012) • Member of the Board of Directors of Cajastur (Secretary of the Board since 2009). During this period, was a member of the Executive Committee and the Projects Committee of the Financial Institution's Welfare Projects (1999-2014) Helena Sofia Silva Borges Salgado Fonseca Cerveira Pinto Independent Member of the General and Supervisory Board Committees Financial Matters Committee Member Academic qualifications PhD in Business Studies - Warwick University (UK) MSc and BSc in Management - Universidade Católica Portuguesa High Potentials Leadership Program Certificate - Harvard (2012) International Directors Program – INSEAD (2019) Current appointments external to EDP Independent Board Member - Mota-Engil SGPS (Since April 2018) President of the Fiscal Board - Media Capital, SA (since November 2020) Associate Director EQUIS - EFMD (Brussels) (since January 2023) Independent Board Member – Corticeira Amorim, SA (Since April 2024) Member of the International Advisory Board of 2 international Business Schools in UK (since 2019) and France (since 2020) Member - Diocesan Commission for the Interreligious Dialogue (since 2020) Non-executive member of the board at Fundação AEP (since March 2022) Member of the Founders Council of the Casa da Música Foundation (Since May 2024) EDP background Independent Member of the General and Supervisory Board since April 2021 Past experience • Dean - Católica Porto Business School (2013 – 2020) • Professor - Católica Porto Business School (since 1997) • Hospitality and Entertainment Industry • Author of a book, book chapters, articles, and opinion articles
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EDP Integrated Annual Report 2025 Corporate Governance | Annexes Index 264 Gonçalo Nuno Gomes de Andrade Moura Martins Independent Member of the General and Supervisory Board Committees Chair of the Financial Matters Committee Member of the Remuneration Committee appointed by the General and Supervisory Board Academic qualifications Advanced Management Program - Universidade Católica Portuguesa and Kellogg School of Management of Northwestern University (Chicago) (2010) Postgraduate in Business Management, Universidade Católica Portuguesa (1997) Lawyer number 9194-L of the “Ordem dos Advogados” (1990) Postgraduate in Business Management, Instituto Superior de Gestão (1989) Law Degree from the Faculty of Law of the University of Lisbon (1984-1989) Current appointments external to EDP Vice-Chairman of the Board of Directors of the Mota-Engil Group (2016) Chairman of the Board of Directors NOAE – Investments, S.A. (2024) Member of the Board of Directors of EIC – European International Contractors (2023) Vice-Chairman of the Luso-Mexican Chamber of Commerce and Industry (2022) General Manager of 2MCF - Serviços e Imobiliário, Lda (2020) EDP background Independent Member of General and Supervisory Board since April 2024 Past experience • Member of the International Advisory Board of Católica Lisbon School of Business and Economics (2018-2023) • Chairman of the Board of Directors of Mota-Engil Africa (2015-2020) • CEO, Mota-Engil, SGPS, S.A. (2013-2023) • CFO, Mota-Engil, SGPS, S.A. (2012-2013) • CEO, Ascendi Group (2009-2017) • CEO, Mota-Engil, Ambiente e Serviços, SGPS, S.A. (2006-2012) • CFO, Mota-Engil, Engenharia e Construção (2000-2006) • CFO, Engil, S.A. (1997-2000) • In-house Legal Consultant, Mota-Engil Group (1990-1997) Alicia Reyes Revuelta Independent Member of the General and Supervisory Board Committees United States of America Business Affairs Monitoring Committee Member Academic qualifications PhD, Quantitative Methods and Financial Markets, ICADE (2001-2006) Double Degree in Law and Economics and Business Administration, ICADE (1990-1996) Current appointments external to EDP Non-Executive Director, Chair of the Board, Committees: Remunerations, Ardonagh Europe, Ireland (2025) Non-Executive Director, Committees: Audit, Risk and Compliance and Remunerations, KBC Group, and Non-Executive Director, KBC Bank and Global Services, Belgium (2022) EDP background Independent Member of General and Supervisory Board since April 2024 Past experience • Non-Executive Director, Committees: Strategy, Credit and Risk, Banco Sabadell, Spain (2020-2025) • President of the Board of Directors and Chairman of the Executive Committee, Momentus Securities (2021-2023) • Non-Executive Director, Nominations and Remunerations Committee, TSB Bank, United Kingdom (2020-2021) • Non-Executive Director, Risk, Remunerations, Nominations, Audit and New Products Committees, Wells Fargo Securities International (2015-2020) • CEO and President of the Executive Committee, Wells Fargo Securities EMEA (2015-2020) • Partner, Olympo Capital (2014-2015) • Global Head of FIG IBD Structuring, Insurance Solutions and Strategic Equity Derivatives, Barclays Capital (2010-2014) • Head of Iberia Distribution, Barclays Capital (2006-2009) • Member of the Board of Directors of TDA, SGFT and Marco Polo SGCR (Technology Venture Capital Fund) and Member of the European Securitisation Forum Board (2002-2006) • General Director, Spain and Portugal, Bear Stearns (2002-2006) • Non-Executive Director: Racenet, Carrierhouse, Internet Data House and Energyworkspace.com (1999-2001) • Investment Director and Financial Administrator (Financial Division of Abengoa), Telecom Ventures AG (1998-2001) • Investment Director, Deutsche Bank (1996-1998) Zili Shao Independent Member of the General and Supervisory Board Committees Remuneration Committee Member Academic qualifications Bachelor of Laws - China University of Political Science and Law (1980– 1984) LLM - University of Melbourne (1988–1991) Current appointments external to EDP Independent Director - Yum China Holdings, Inc, listed in New York and Hong Kong Stock Exchanges (since October 2016) Founder and Chairman - MountVue Capital Management Co Ltd (since 2017) EDP background Independent Member General and Supervisory Board since April 2021 Past experience • Citic Group, Beijing (1984-1986) • Solicitor - Mallesons Stephen Jaques, Melbourne (1990–1994) • Partner - Allens Arthur Robinson, Sydney (1995-1998) • Partner - Linklaters LLP Managing Partner of Asia Pacific Member of Global Management Committee (1998 –2009) • Chairman & CEO - JP Morgan China (2010–2014) • Vice Chairman - JP Morgan Asia Pacific (2014–2015) • Co-Chairman and partner - King & Wood Mallesons, China (2015–2017) • Qualified lawyer - PRC, UK, HK and Australia
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EDP Integrated Annual Report 2025 Corporate Governance | Annexes Index 265 Sandra Maria Soares Santos Independent Member of the General and Supervisory Board Committees Remuneration Committee Member United States of America Business Affairs Monitoring Committee Member Academic qualifications Corporate Governance, Wharton Executive Education (2025) Boards Performance Program, IMD (2024) Certificate in Digital Strategy, Nova Business School (2019) Innovative Leadership Program for Senior Executives, IMD (2013) Leadership Program, London Business School and University of Porto (2005) MBA, Porto Business School (1999) Degree in Management, Faculty of Economics and Management, University of Porto (1994) Current appointments external to EDP CEO and Board Member, Logoplaste (2025) Non-Executive Director and Chair of the Audit and Risk Committee, Titan America (2025) Member of the Strategy Committee, Titan Cement International (2024) EDP background Independent Member of the General and Supervisory Board since April 2024 Past experience • Non-Executive Director, Titan Cement International (2024-2025) • Non-Executive Director, BA Glass (2024-2024) • Non-Executive Director and Chair of the Nominations and Remunerations Committee, Banco BPI (2023-2025) • Non-Executive Director, The Navigator Company (2019-2025) • Founding Member and Board Director, Business Roundtable Portugal (2020-2024) • CEO, BA Glass Group (2014-2024) • Board Member, European Glass Container Federation (2014-2024) • Member of the Advisory Board, Rabobank (2022-2023) • Observer Board, Anchor Glass (2019-2022) • CFO, BA Glass Group (2007-2014) • Non-Executive Director, La Seda De Barcelona (2012-2013) • General Manager of Factory, BA Glass Group (2006-2007) • Finance and HR Executive, BA Glass Group (2005-2006) • Finance Executive, BA Glass Group (2001-2004) Maria José García Beato Independent Member of the General and Supervisory Board Committees Member of the Corporate Governance and Sustainability Committee Member of the Financial Matters Committee Academic qualifications Degree in Law and Diploma in Criminology State Attorney since 1991 Current appointments external to EDP Member of the Board of Banco de Sabadell • Member of the Strategy and Sustainability Committee • Member of the Nominations and Corporate Governance Committee Independent Member of the Board of Grupo ACS • Member of the Nominations Committee • Chair of the Remuneration Committee Independent Member of the Board of Grupo Iberpapel • Chair of the Nominations and Remunerations Committee • Member of the Audit Committee Trustee of the Banco Sabadell Foundation Trustee of the Spanish Banking Association Foundation EDP background Independent Member of the General and Supervisory Board since April 2024 Past experience • Member of the Board. Secretary General Advisor, Banco Sabadell (2018-2021) • Secretary of Banco Sabadell Consumer Finance (2017-2021) • Member of the Board of Sabadell United Bank (2016-2017) • Member of the Board of Banco Gallego (2013-2014) • Member of the Advisory Board of Fundación Cajasur (2012-2022) • Member of the Board, Red Eléctrica Corporación (2012-2021) • Deputy Secretary of the Board of Directors, Banco Sabadell (2012-2021) • Member of the Board of Banco CAM (2012) • Secretary of the Board of Sabadell United Bank (2010-2016) • MDirector of Banco Guipuzcoano (2010-2012) • Secretary General and member of the Management Committee with responsibility for the Legal Advisory, Compliance, Communication and Institutional Relations, Sustainability and Corporate Governance departments, Banco Sabadell (2008-2021) • Secretary of the Board of Trustees of FEDEA (2007-2016) • Secretary of the Board of Banco Urquijo Sabadell Banca Privada (2006-2009) • Director of the Legal Department, Banco Sabadell (2005-2008) • State Attorney in the Legal Service before the National Court, National Court (2004-2005) Past experience • Director of the State Real Estate Management Company (2003-2004) • Director of the State Postal and Telegraph Company (2002-2004) • Director of the State Company for International Exhibitions (2002-2004) • Undersecretary of the Ministry of Justice (2002-2004) • Director-General of the Minister of Justice's Office (2000-2004) • Director of INFOINVEST (2000-2004) • Secretary of the Board of Directors of RETEVISION (2000) • State Attorney in the General Secretariat of Communications, Ministry of Development (1999-2000) • Attorney in the Subdirectorate of Advisory Services, Ministry of Justice (1998-2000) • Advisor to the National Mint and Stamp Factory for the CERES project (1997-1999) • Head of the Legal Office, Data Protection Agency (1995-1998) • State Attorney, High Court of Justice of Madrid (1992-1995) • State Attorney of Soria and La Rioja, High Court of Justice of Madrid (1991-1992) • Spanish representative on the Advisory Committee of the Council of Europe on data protection (1995-1998)
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EDP Integrated Annual Report 2025 Corporate Governance | Annexes Index 266 Stephen Paul Vaughan Independent Member of the General and Supervisory Board Committees Corporate Governance and Sustainability Committee Member United States of America Business Affairs Monitoring Committee Member Academic qualifications Master's degree in Physics from the University of Oxford Current appointments external to EDP Senior Adviser to Rothschild & Co. (2024-ongoing) EDP background Independent Member of the General and Supervisory Board since April 2024 Past experience • Vice Chairman of Power Consulting at Rothschild (2021-2024) • Co-head of the Global Power Consulting area at Rothschild (2007-2021) • Worked at Rothschild & Co (1988-2024) • Nuclear engineer in the design, licensing, construction, and operation of power plants in the United Kingdom (1982-1988) Lisa Frantzis Independent Member of the General and Supervisory Board Committees Corporate Governance and Sustainability Committee Member United States of America Business Affairs Monitoring Committee Member Academic qualifications Wesleyan University, BA, New Energy Technologies Current appointments external to EDP Aligning Energy Solutions, CEO and Founder (2024 - Present) Clarum Advisors, Advisor (2024 - Present) NuGen Capital Management, Advisory Board (2023 - Present) U.S. Department of Energy (DOE), Electricity Advisory Committee (2021 - Present). Storage Subcommittee (2022 – Present) LineVision, Inc., Board Member (2021 - Present) Thorndike Pond Conservation Association (non-profit), Board Member (2019 - Present). Vice President (2021 – 2024) Massachusetts General Hospital, Center for Law, Brain and Behavior, Board of Advisors (non-profit) (2014 - Present) Alliance for Climate Transition (non-profit) (2011 - Present), Board Member. Nominations and Governance Committee (2021 – Present); Chair (2023) Quassy Amusement Park, Board Member (1998 - Present) La Donna Musicale, Board Member and President (1993 – Present) EDP background Independent Member of the General and Supervisory Board (April 2024 – Present) Past experience • Guidehouse, Partner, Go-to-Market Strategies: Hydrogen, eMobility and Renewables (2022 – 2024) • Advanced Energy United, Senior Managing Director, Utility Advisory Committee and 21st Century Energy System Lead (2013 – 2022) • Navigant Consulting, Managing Director, Head of Renewable and Distributed Energy Business (2002 – 2013) • Arthur D. Little, Inc., Principal (1979 – 2002) • CMC Energy Services, Board Member (2022 – 2024) • U.S. Clean Energy, Education & Empowerment (C3E): Ambassador (2014 – 2023) Ambassador Emeritus (2024 – Present) • Smart Electric Power Alliance (SEPA), Board Member and Executive Leadership Council (2010 – 2018) • American Council on Renewable Energy (ACORE), Board Member (2004 – 2011) • Solar Energy Business Association of New England, Board Member (2001 – 2004). Vice President (2003 and 2004) • New England Women in Energy and the Environment, Leadership Award, April 2019
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Executive Board of Directors EDP Integrated Annual Report 2025 Corporate Governance | Annexes Index 267 Miguel Stilwell de Andrade CEO - EDP S.A. (since 2021) CEO - EDP Renováveis, S.A. (since 2021) Academic qualifications MBA – MIT Sloan (2003) MEng with Distinction – University of Strathclyde (1998) Other Positions and Experience • Chair of the Board of Directors – EDP – Energias do Brasil, S.A (since 2023) • Member of the Executive Board of Directors – EDP, S.A. (since 2012) • Vice-Chair of the Board of Directors – EDP Renováveis S.A. (since 2021) • CFO – EDP – Energias de Portugal S.A. (2018-2021) • Member of the Board of Directors – EDP – Energias do Brasil, S.A. (2018-2020) • CEO – EDP Comercial and EDP Soluções Comerciais S.A. (2012-2018) • CEO – Hidroeléctrica del Cantábrico (Spain) (2012-2018) • CEO – Naturgás Energia Grupo (2012-2015) • Member of the Board of Directors – EDP Distribuição (2009-2012) • Member of the Board of Directors – EDP Inovação, EDP Ventures (2007-2012) • Strategy, M&A and Corporate Development – EDP – Energias de Portugal S.A. (2000-2001 and 2003-2009) • UBS Investment Bank (1998-2000) Current External Appointments • Vice-Chair – Executive Committee – WBCSD • Member – Alliance of CEO Climate Leaders – World Economic Forum • Co-Chair – Hydrogen Producers Roundtable – European Clean Hydrogen Alliance (ECH2A) • Member – Business Roundtable Portugal • Member of the General Council –FAE – Forum de Administradores e Gestores de Empresas • Member of the Board of Governors – St. Julian’s School (until November 2025) Rui Manuel Rodrigues Lopes Teixeira CFO - EDP S.A. (since 2021) CFO - EDP Renováveis, S.A. (since 2021) Academic qualifications Advanced Management Programme – Harvard Business School (2013) MBA – Nova University, Lisbon (2001) Naval Architecture and Marine Engineering Graduate – Instituto Superior Técnico, Lisbon (1995) Other Positions and Experience • Chair of the Board of Directors – EDP Global Solutions - Gestão Integrada de Serviços, S.A. (since 2023) • Vice-Chair of the Board of Directors – EDP – Energias do Brasil, S.A (since 2024) • Member of the Board of Directors – EDP Renováveis, S.A. (2008-2015 and since 2019) • Chair of the Board of Directors – OW Offshore S.L.U. (since 2024) • Member of the Board of Directors – EDP - Energias do Brasil, S.A (2021-2024) • Member of the Board of Directors – EDP España, S.A.U. (since 2018) • Member of the Executive Board of Directors – EDP, S.A. (since 2015) • Vice-President of the Board of Directors – OW Offshore S.L.U. (2022-2024) • CEO – EDP España S.A.U. (2018-2021) • CEO – EDP - Gestão da Produção de Energia, S.A. (2015-2020) • CFO – EDP Renováveis, S.A. (2008-2015) • Head of Corporate Planning and Control – EDP (2004-2007) • Consultant – McKinsey & Company (2001-2004) • Ship Surveyor – Det Norske Veritas (1997-2001) • Sales – Gellweiler – Sociedade de Equipamentos Marítimos e Industriais, Lda. (1996-1997) Current External Appointments • Member of the Strategic Council – ISEG MBA • Vice-Chairman of the Board – BCSD Portugal Vera de Morais Pinto Pereira Carneiro Member of Executive Board of Directors — EDP S.A. (since 2018) Member of the Management Team — EDP Renováveis, S.A. (since 2024) Academic qualifications Executive Education Program – Harvard Business School (2021) MBA - INSEAD Fontainebleau (2000) Economics Degree and Post-Graduate Degree - Nova University, Lisbon (1996 and 1998) Other Positions and Experience • CEO – EDP Comercial – Comercialização de Energia, S.A. (since 2018) • Chair of the Board of Directors– Fundação EDP (since 2021) • Member of the Board of Directors – EDP Energias do Brasil, S.A. (since 2021) • Member of the Board of Directors – EDP España S.A.U. (since 2018) • Non-executive Member of the Board of Directors – EDP Renováveis, S.A (2019-2024) • Member of the Board of Directors – Fundação EDP (2018-2021) • Executive Vice-President and General Director Portugal & Spain and Member of Executive Leadership Team Europe & Africa – Fox Networks Group (2014-2018) • Member of the Board of Directors – Pulsa Media (2014-2018) • Head of TV Business Unit – MEO (2007-2014) • Head of TV Business Unit – TV Cabo – PT Multimédia (2003-2007) • Founder – Innovagency Consulting (2001-2003) • Mercer Management Consulting (today Oliver Wyman) (1996-1999) Current External Appointments • Board Member – Charge Up Europe • Board Member – Fundação Alfredo de Sousa • Board Member – Confederação Empresarial de Portugal • Board Member –Sustainable Energy for All (SEforALL)
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EDP Integrated Annual Report 2025 Corporate Governance | Annexes Index 268 Ana Paula Garrido de Pina Marques Member of the Executive Board of Directors - EDP S.A. (since 2021) Member of the Management Team — EDP Renováveis, S.A. (since 2024) Academic qualifications Executive Education Programs – Harvard Business School, IMD, LBS (2009, 2008, 2005) MBA – INSEAD (2002) Degree in Economics – Faculdade de Economia do Porto (1991-1996) Other Positions and Experience • CEO – EDP - Gestão da Produção de Energia, S.A. (since 2021) • Member of the Board of Directors - EDP España, S.A.U. (since 2024) • Board Member – Eurelectric (2021-2025) • President of the Board – ELECPOR (2020-2025) • CEO – EDP España, S.A.U. (2022-2024) • CEO – EDP Labelec - Estudos, Desenvolvimento e Actividades Laboratoriais, S.A. (2021-2024) • Member of the Board of Directors – EDP - Energias do Brasil, S.A. (2021-2024) • Non-Executive Member of the Board of Directors – EDP Renováveis S.A (2021-2024) • Executive Vice-President – NOS (2019-2021) • Executive Board Member – NOS (2013-2019) • Non-Executive Board Member – SportTV (2016-2020) • President – APRITEL (Associação Portuguesa de Operadores de Telecomunicações) (2011-2014) • Executive Board Member – Optimus (2010-2013) • Marketing and Sales Director (Mobile Residential Business Unit) and Brand Director – Optimus (2002-2008) • SMEs Business Unit Director – Optimus (1998-2001) • Marketing – Procter & Gamble (1996-1998) Current External Appointments • Member of the General and Supervisory Board – Porto Business School • Member of the General Council – Instituto Português de Corporate Governance • Non-Executive Board Member – SOGRAPE Pedro Collares Pereira de Vasconcelos Member of the Executive Board of Directors — EDP S.A. (since 2023) Member of the Management Team — EDP Renováveis, S.A. (since 2021) Academic qualifications MBA with Distinction – INSEAD (2013) Degree in Aerospace Engineering - Instituto Superior Técnico (2005) Other Positions and Experience • CEO – EDP España, S.A.U. (since 2024) • Member of the Board of Directors – OW Offshore S.L.U. (since 2021) • Executive Chair – EDP Sunseap Group Singapura (2021-2024) • Chief Operating Officer for the Asia-Pacific region – EDP Renováveis, S.A. (2021-2024) • Member of the Board of Directors – EDP Inovação (2021-2022) • Director M&A and Business Development – EDP - Energias de Portugal, S.A. (2017-2022) • Director of Solar Strategy – EDP Renováveis, S.A (2016-2017) • Member of the Board of Directors – EDP Internacional (2014-2016) • Chief of Office of CEO – EDP - Energias de Portugal, S.A. (2011-2013) • Associate seconded by EDP - N GEN Partners (2009-2011) • M&A and Business Development Project Manager – EDP - Energias de Portugal, S.A. (2007-2009) Current External Appointments • Board Member – Eurelectric (2021-2025) • President of the Board – ELECPOR (2020-2025) • Board Member – OMIP SGPS, S.A. • Board Member – Operador del Mercado Ibérico de Energía, Polo Español, S.A. (OMEL) • Chairman of Spanish Committee of World Energy Council (CEMCE) and Vice President second of Spanish Energy Club (CEE)
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Annex II Meetings held by the General and Supervisory Board and each member's attendance: Name 26-FEB 10-APR 08-MAY 10-JUL 30-JUL 10-SEP 24-OCT 05-NOV 18-DEC % António Lobo Xavier P P P P P P P P P 100 Shengliang Wu P P P P P P P P R 100 Qin Guobin P P P P P P P P P 100 Ignácio Herrero P P P P P P P P P 100 Hui Zhang P P P P P P P P P 100 Miguel Pereira Leite P P P P P P P P P 100 Victor Roza Fresno P P P P P P P P P 100 Fernando Masaveu P P P P P P P P P 100 Sofia Salgado Pinto P P P P P P P P P 100 Zili Shao P R P P P P P P P 100 Alicia Reyes Revuelta R P P P P P P P P 100 Gonçalo Moura Martins P R P P P P P P P 100 Maria José Beato P P P P P P P P P 100 Sandra Maria Santos R P P P P P P P P 100 Stephen Vaughan P P P P P P P P P 100 Lisa Frantzis P P P P P P P P P 100 P = Present; A = Absent; R = Represented Average participation: 100% (includes present and represented) EDP Integrated Annual Report 2025 Corporate Governance | Annexes Index 269
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Annex III Meetings held by the Executive Board of Directors and each member's attendance: Name 07-JAN 13-JAN 24-JAN 27-JAN 03-FEB 10-FEB 17-FEB 20-FEB 24-FEB 26-FEB 10-MAR 17-MAR 24-MAR 31-MAR 07-APR 14-APR 21-APR 28-APR 30-APR 30-APR 05-MAY 08-MAY 12-MAY 19-MAY 23-MAY 27-MAY 03-JUN Miguel Stilwell de Andrade P P P P P P P P P P P P P P P P P P P P P P P P P P P Rui Manuel Rodrigues Lopes Teixeira P P P P P P P P P P P P P P P P P P P P P P P P P P P Vera de Morais Pinto Pereira Carneiro P P P P P P P P P P P P P P P A P P P P P P P P P P P Ana Paula Garrido de Pina Marques P P P P P P P P P P P P P P P P P P P A P P P P A P P Pedro Collares Pereira de Vasconcelos P P P P P P P P P P P P P P P P P P P P P P P P P P P Name 05-JUN 11-JUN 16-JUN 23-JUN 30-JUN 07-JUL 14-JUL 21-JUL 24-JUL 28-JUL 30-JUL 01-AUG 25-AUG 02-SEP 09-SEP 15-SEP 22-SEP 29-SEP 06-OCT 13-OCT 16-OCT 20-OCT 27-OCT 03-NOV 05-NOV 06-NOV 10-NOV Miguel Stilwell de Andrade P P P P P P P P P P P P P P P P P P P P P P P P P P P Rui Manuel Rodrigues Lopes Teixeira P P P P P P P P P P P P P P P P P P P P P P P P P P P Vera de Morais Pinto Pereira Carneiro P P P P P P P P P P P P P P P P A P P P P P P P P P P Ana Paula Garrido de Pina Marques A P P P P P P P P P P P P P P P P A P P P P P P P P P Pedro Collares Pereira de Vasconcelos P P P P P P P P P P P P A P P P P P P P P P P P P P P Name 17-NOV 24-NOV 02-DEC 09-DEC 15-DEC 22-DEC % Miguel Stilwell de Andrade P P P P P P 100% Rui Manuel Rodrigues Lopes Teixeira P P P P P P 100% Vera de Morais Pinto Pereira Carneiro P A P P P P 95% Ana Paula Garrido de Pina Marques P P P P P P 93% Pedro Collares Pereira de Vasconcelos P P P P P P 98% P = Presence; A = Absent Total meetings held in 2024: 61 Average participation: 97.4% EDP Integrated Annual Report 2025 Corporate Governance | Annexes Index 270
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Annex IV Positions held by the members of the Executive Board of Directors in other companies belonging or not to the EDP Group: CEL Energy - Central Elétrica de Lares, S.A. - - - CBD - Comercializadora Energética Sostenible, S.A.U. - - - - R EDP, S.A., Sucursal en España PR PR PR PR PR EDP - Energias do Brasil, S.A. CBD VP - - - EDP - Gestão da Produção de Energia, S.A. - - - CBD - EDP Comercial - Comercialização de Energia, S.A. - - CBD - - EDP España, S.A.U. - D D D VP/MD EDP Finance BV R R R R R EDP GEM Portugal, S.A. - - - CBD EDP Global Solutions – Gestão Integrada de Serviços, S.A. - CBD - - - EDP Group Brussels Representation - - - - D EDP Iberia, S.L.U. - - - - D EDP IS - Investimentos e Serviços, Sociedade Unipessoal, Lda. - M - - - EDP Renewables Europe S.L.U. CBD VP - - D EDP Renováveis Servicios Financieros S.A. - CBD - - D EDP Renováveis, S.A. VP/MD CFO/MD - - - Miguel Stilwell de Andrade Rui Teixeira Vera Pinto Pereira Ana Paula Marques Pedro Vasconcelos EDP Solar España, S.A.U. - - R - - EDPR PT - Promoção e Operação, S.A. - - - - CBD OW Offshore S.L.U. - CBD - - D RJCE - Central Elétrica do Ribatejo, S.A. - - - CBD - SÃVIDA – Medicina Apoiada, S.A. - CBD - - - Transporte GNL, S.A.U. - - - - R OMIP – Operador do Mercado Ibérico (Portugal), SGPS, S.A. - - - - D Operador del Mercado Ibérico de Energía, Polo Español, S.A. (OMEL) - - - - R Sunseap Commercial & Industrial Assets (Vietnam) Co Ltd - - - - CBD Miguel Stilwell de Andrade Rui Teixeira Vera Pinto Pereira Ana Paula Marques Pedro Vasconcelos D – Director M – Manager CBD – Chairman of the Board of Directors CFO/MD – Chief Financial Officer and Managing Director R – Representative PR –Permanent Representative VP – Vice-President VP/MD – Vice-President and Managing Director EDP Integrated Annual Report 2025 Corporate Governance | Annexes Index 271
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Annex V Attendance list of the Financial Matters Committee: Name 28-JAN 21-FEB 26-FEB 02-APR 30-APR 08-MAY 05-JUN 24-JUL 30-JUL 18-SEP 08-OCT 30-OCT 05-NOV 16-DEC % Gonçalo Moura Martins P P P P P P P P P P P P P P 100 María José García Beato P P P P P P P P P P P P P P 100 Sofia Salgado Pinto P P P P P P P P P P P P P P 100 Victor Roza Fresno P P P A P P P P P P P P P P 93 P = Presence; A = Absent; R = Represented Average participation: 98% (includes present and represented) Attendance list of the Remuneration Committee: Name 20-MAR 09-APR 23-APR 29-OCT % Miguel Pereira Leite P P P P 100 Fernando Masaveu Herrero P P P P 100 Gonçalo Moura Martins P P P P 100 Sandra Maria Santos P P P A 75 Zili Shao P P P P 100 P = Presence; A = Absent; R = Represented Average participation: 95% (includes present and represented) Attendance list of the Corporate Governance and Sustainability Committee: Nome 25-FEB 07-MAY 29-JUL 04-NOV 17-DEC % António Lobo Xavier P P P P P 100 Fernando Masaveu Herrero P R P P R 100 Ignacio Herrero Ruiz P P P P P 100 Lisa Frantzis P P P P P 100 María José García Beato P P A P P 80 Guobin Qin P P P P P 100 Stephen Vaughan P P P P P 100 P = Presence; A = Absent; R = Represented Average participation: 97% (includes present and represented) Attendance list of the United States of America Business Affairs Monitoring Committee: Nome 18-FEB 07-MAY 29-JUL 24-SEP 04-NOV 17-DEC % António Lobo Xavier P P P P P P 100 Alicia Reyes Revuelta P P P P P P 100 Lisa Frantzis P P P P P P 100 Sandra Maria Santos P P A A P P 67 Stephen Vaughan P P P P P P 100 Victor Roza Fresno A P P P A P 67 P = Presence; A = Absent; R = Represented Average participation: 89% (includes present and represented) EDP Integrated Annual Report 2025 Corporate Governance | Annexes Index 272
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EDP Integrated Annual Report 2025 Corporate Governance & Remuneration Index Index 273 Remuneration Report 02. CORPORATE GOVERNANCE & REMUNERATION Index 2.1. Introduction A. Remuneration Policy applicable to the Executive Board of Directors 274 B. Remuneration Policy applicable to members of the Governing Bodies Cameron solar park | South Carolina, US 274 289 C. Specifics applicable to the remuneration of the members of the General and Supervisory Board D. Specifics applicable to the remuneration of the Statutory Auditor E. Particulars applicable to the remuneration of the Remuneration Committee of the General Shareholders' Meeting F. Particulars applicable to the remuneration of the Board of the General Shareholders’ Meeting G. Evolution of the remuneration and performance 294 293 296 295 291
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This Remuneration Report aims to provide a comprehensive and integrated description of the remuneration earned by the members of the corporate bodies of EDP, S.A. (“EDP” or “Company”), including all benefits, regardless of the respective form, attributed or due during the 2025 financial year. As provided for in the EDP Articles of Association, the remuneration of the members of the governing bodies is fixed by a Remuneration Committee appointed by the General Shareholders' Meeting, with the exception of the remuneration of the members of the Executive Board of Directors , which is set by a Remuneration Committee appointed by the General and Supervisory Board. At the EDP General Shareholders’ Meeting held on 10 April 2024, the proposal for the Remuneration Policy for the members of the corporate bodies submitted by the Remuneration Committee appointed by the General Shareholders’ Meeting, as well as the proposal for the Remuneration Policy for the members of the Executive Board of Directors, which was submitted by the Remuneration Committee appointed by the General and Supervisory Board, to be in force during the 2024 - 2026 triennium, were approved by, respectively, 99.34% and 91.25% of the votes cast. On 10 April 2025, EDP's General Shareholders' Meeting considered, under the item relating to the approval of the Integrated Annual Report, the Remuneration Report, which was approved by a majority of the votes cast (96.45% in favour). This Report also presents the implementation and payments made under the Remuneration Policy for Members of the Executive Board of Directors approved on 14 April 2021 for the 2021-20231 term of office, applicable to the members in office during that term, specifically with regard to the payment of the annual and multi- annual variable component of remuneration, thus demonstrating the continuity of the application of the previous Policy with regard to this components and compliance with the remuneration principles established at any given time. A. Remuneration Policy applicable to members of the Executive Board of Directors approved by the Remuneration Committee appointed by the General and Supervisory Board2 Procedures for the adoption of the policy At the General Shareholders’ Meeting held on 10 April 2024, was approved the proposed Remuneration Policy3 for the members of the Executive Board of Directors, drawn up and submitted by the Remuneration Committee appointed by the General and Supervisory Board to be in force during the 2024-2026 triennium. As stated in the Remuneration Policy for the members of the Executive Board of Directors, drawn up under the terms of Law no. 50/2020, of 25 August and considering the Corporate Governance Code of the Portuguese Institute of Corporate Governance (IPCG - Instituto Português de Corporate Governance) adopted by EDP, the Remuneration Committee of the General and Supervisory Board considered that it was appropriate to review the Remuneration Policy of the Executive Board of Directors in view of the start of the mandate of this Board, the approval of the business plan and the feedback received from analysts and investors. The proposal for the Remuneration Policy of EDP's Executive Board of Directors resulting from this review was submitted and approved at EDP's General Shareholders’ Meeting of 10 April 2024. The policy review work that gave rise to the proposal presented to the General Shareholders’ Meeting was also based on a study requested by the Remuneration Committee of the General and Supervisory Board and carried out by an independent consultant, as well as on the advice obtained by the aforementioned Committee in relation to corporate governance matters, good international practices and, in general, the remuneration policy as an instrument to promote the business strategy and the long-term and sustainability interests of EDP, provided by an independent Law firm, based on a benchmark analysis of the remuneration model, both qualitative and quantitative, of companies in the PSI 20 Index and comparable companies in the international electricity sector. In the proposed Remuneration Policy of the members of the Executive Board of Directors, the evolution of the remuneration system for directors and other EDP employees and the reasonable expectations of the members of the Executive Board of Directors regarding the remuneration model, its suitability and competitiveness were also given due consideration. The consideration of employment conditions and the remuneration model for EDP's employees and the economic and financial situation in the country and worldwide also contributed to this end. With effect, the consideration of these elements advised a review of the fixed component of the remuneration of the Chair of the Executive Board of Directors and an update of the fixed remuneration of the other members. Aspects relating to share-based incentives were also improved in order to clarify the consequences of certain corporate events and to bring them closer to the regulatory regimes that apply to them, in particular with regard to the possibility of converting part of this remuneration into cash, to the extent necessary to fulfil the tax obligations of the member of the Executive Board of Directors. In particular, account was taken of the fact that this amendment does not have the effect of reducing exposure to the risks and benefits of EDP Integrated Annual Report 2025 Remunerations Report Index 274 1 For more information, see: Remuneration Policy approved at the General Shareholders' Meeting of 14 April 2021 (Variable remuneration, pages 5-11) 2 This Item addresses ESRS 2 GOV-3. 3 For more information, see: Remuneration Policy approved at the General Shareholders Meeting of April 10th 2024
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holding EDP shares during the period of deferred payment of remuneration if the member of the Executive Board of Directors chooses to receive part of the multi-annual variable component in cash. EDP, as the apex of a responsible multinational business group (“Group”) has a solid culture that ensures the management, monitoring, control, and supervision of the risks that the Group, its shareholders, employees, customers and, in general, all its stakeholders face, including those arising from the remuneration systems it adopts. EDP has remuneration practices transversal to the Group, consistent and based on common principles, which comply with the regulations applicable in the jurisdictions where it carries out its activity. EDP's remuneration systems, including those of the Executive Board of Directors, are defined to promote a culture of merit and high performance that ensures that people and teams are recognized, encouraged and rewarded according to their responsibility, availability, loyalty and competence placed at the service of EDP, guaranteeing action in line with the long-term interests of shareholders and the promotion of sustainable performance by EDP. The rules governing the exit and replacement of directors were also modified with a view to improving EDP's ability to attract talent, in the event of directors being replaced during the course of a term of office, and also to provide a framework for the competences of the Remuneration Committee of the General and Supervisory Board in the event of directors exiting. The proposal for the Remuneration Policy for the members of the Executive Board of Directors was also aimed at simplification, transparency, and clarity, favouring a complete understanding of the framework of principles and rules that constitute it, which are applied by the Remuneration Committee of the General and Supervisory Board. Definition, review, and renewal of the Policy The definition of the remuneration policy of the Executive Board of Directors is submitted for approval by the General Shareholders' Meeting of EDP, at the proposal of the Remuneration Committee of the General and Supervisory Board. The Internal Regulations of the Remuneration Committee of the General and Supervisory Board establish the process of reviewing and applying the Remuneration Policy of the Executive Board of Directors, in accordance with the following principles: • the Remuneration Committee of the General and Supervisory Board meets at least once a semester in order to monitor the situation of EDP in relevant matters for the purposes of determining and fixing the variable remuneration of the Chairman of the Executive Board of Directors and the other Directors and for the analysis of relevant information that may justify the consideration of adjustments to the application of the Remuneration Policy, proceeding as necessary and convenient to the hearing of the Financial Matters Committee and the Corporate Governance and Sustainability Committee of the General and Supervisory Board, of the Executive Board of Directors or any of EDP’s corporate structure in terms of compliance, risk management and Human Resources; • the definition and possible proposals for reviewing the Remuneration Policy are based on the articulation of EDP's long-term objectives, measured according to its strategic plan at any given moment, on the conclusions of comparative remuneration studies with national listed companies and with peers’ foreign sectors and in an articulation of principles with the remuneration plan of employees of EDP; • on an annual basis, the Remuneration Committee of the General and Supervisory Board will assess the opinions expressed by shareholders and analysts on EDP's Remuneration Policy or on the Remunerations Report; • the Remuneration Committee of the General and Supervisory Board may hire the consultants and external support necessary to carry out studies on comparative remuneration and best corporate governance practices within the scope of remuneration policies for directors, assessing their independence conditions to the provision of services that may be requested. Without prejudice to (extraordinary) revision proposals, the Remuneration Committee of the General and Supervisory Board should, at least at the end of each term of office, when assessing compliance with the objectives set for the term in question, specifically analyse and decide on a reasoned basis, on the opportunity to propose the revision/update (ordinary) of the Remuneration Policy in any of its components, in order to ensure, at all times and with adequate agility, the fulfilment of the objective of the remuneration policy of retention and attraction of talent. The review of the base remuneration must also imply the weighting, according to benchmark criteria, of the total remuneration model practiced by comparable companies, in order to always ensure that the remuneration model of the members of the Executive Board of Directors of EDP remains balanced, fair, and competitive. Whenever a Remuneration Policy is proposed for reviewed, all relevant changes introduced will be described and how these changes reflect the votes and opinions expressed by shareholders on the Remuneration Policy, as well as the remuneration reports issued based on the aforementioned policy. Principles and General Characteristics The Remuneration Policy of the Executive Board of Directors of EDP aims to comply with the applicable legislation, also in terms of its content, under the terms of Article 26-C of the Portuguese Securities Code, the IPCG Corporate Governance Code adopted by EDP and good international practices, being mutatis mutandis coherent and consistent with the Remuneration Policy and remuneration practices applied to Group employees. EDP Integrated Annual Report 2025 Remunerations Report Index 275
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Regardless of the functions performed in companies of the Group, namely at EDP Renováveis, the members of the Executive Board of Directors, are exclusively remunerated for their duties at EDP, and do not receive any remuneration or benefits for positions held at any other Group company. Fixed and variable remuneration will be paid exclusively by EDP The Remuneration Committee of the General and Supervisory Board may also allocate accommodation allowances or other benefits to members of the Executive Board of Directors who live permanently outside Portugal and is also responsible for determining the scope of the benefits, their value and the Group company responsible for their payment. Nevertheless, and considering EDP's global presence, members of the Executive Board of Directors may be remunerated (in whole or in part) by other EDP Group companies based outside Portugal, if this is necessary or advised by legal or regulatory issues. In such cases, the Remuneration Committee of the General and Supervisory Board is responsible for defining the respective conditions, which under no circumstances may result in compensation greater than that provided for in this policy and which must guarantee a level of disclosure identical to that which would exist if the compensation were fully paid by EDP. The remuneration of the members of the Executive Board of Directors must be aligned with the interests of shareholders, be focused on the creation of long-term value and be compatible with adequate and rigorous risk management, thus contributing to the Company's strategy, to its long-term values and interests and for its sustainability. Total remuneration and the remuneration model, in general, must be competitive, aligned with the practices of the international electricity sector and the market, facilitating the attraction and retention of talent, and the commitment to the company's challenges and ambitions. The competitiveness of the remuneration model/system of the Executive Board of Directors must be regularly and periodically assessed, namely through the analysis of the functions performed and benchmark exercises to be carried out with the support of independent entities, which is assumed to be done with a minimum triennial frequency, corresponding to the duration of the term-of- office of the Executive Board of Directors. The Remuneration Policy of the Executive Board of Directors ensures a (fixed) base remuneration, the payment of which is not dependent on performance evaluation, which must be fair, competitive, and sufficiently relevant in relation to the total remuneration, in order to allow greater flexibility in the conformation of the variable component of the remuneration. The Remuneration Policy of the Executive Board of Directors comprises a variable remuneration, with an annual component, and a multi-annual component, with the nature of reward and incentive appropriate to the individual and collective performance of the members of the Executive Board of Directors and the promotion of good conduct, considering EDP's short- and long-term, financial, and non-financial objectives that are achieved, and the way in which they were achieved (pay for performance). The annual variable component is linked to financial objectives established in accordance with EDP's budget, and to non-financial objectives, measured annually, with an impact on the year subject to evaluation and consequent repercussion in the following years, being paid in cash. The annual variable remuneration must be determined after the approval of EDP's accounts at the Annual General Meeting each year, by reference to the previous year of annual performance. The multi-annual variable component is linked to the quantitative and qualitative objectives of EDP's Business Plan, the fulfilment of which will be evaluated at the end of a period of three years, with the respective payment subject to partial deferral. When assessing the annual and multi-annual performance of the members of the Executive Board of Directors and determining the value of the variable remuneration owed to them, the Remuneration Committee of the General and Supervisory Board may consider exceptional circumstances beyond EDP’s control resulting from political or administrative decisions affecting the members of the Executive Board of Directors, which have an impact on EDP's performance in terms of the fulfilment of objectives, mitigating their impact on the annual and multi-annual performance metrics, provided that it ensures that, in the event of the reversal of the decisions of a political or administrative nature in question, by graceful, judicial or arbitral means, the members of the Executive Board of Directors will also not benefit from the effects of such reversal decision. Similarly, the Remuneration Committee of the General and Supervisory Board may take into account other exceptional circumstances, of a cyclical nature, with which EDP is faced, which have an impact on the fulfilment of the objectives set for the members of the Executive Board of Directors, adjusting or adopting justifiable solutions appropriate to mitigate; in whole or in part, the impact of said consequences on the annual and multi-annual performance metrics and/or on the variable component of the remuneration, always subject to the maximum limits established for the variable component of the remuneration. The multi-annual variable remuneration is paid in shares representing the share capital of EDP (“EDP Shares”), without prejudice to the possibility of converting part of this remuneration into cash. The payment of the multi-annual variable remuneration is partially deferred. The determination of the variable annual and multi-annual remuneration of the members of the Executive Board of Directors in accordance with the Remuneration Policy is the responsibility of the Remuneration Committee of the General and Supervisory Board. The payment of the variable remuneration is subject to the permanence of the member of the Executive Board of Directors at EDP until the end of the annual or three-year period of relevant performance, without prejudice to the provisions of the EDP Integrated Annual Report 2025 Remunerations Report Index 276
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Remuneration Policy regarding departures in favourable or neutral circumstances or by agreement. In the event that EDP or members of the Executive Board of Directors are responsible, by shareholders or third parties, responsible for intentional unlawful acts of management, the annual and multiannual variable remuneration of the directors in question may, by decision of the Remuneration Committee of the General and Supervisory Board, be suspended or not awarded, until such claims are determined and, in case they are considered valid, the variable remuneration paid during the period of practice of the facts, overdue, or to be awarded, will be reimbursed, retained or not awarded for compensation for damages caused up to the full amount thereof (malus and clawback clauses). Namely, the variable components of remuneration, linked to metrics of a financial and quantitative nature, granted on the basis of data that subsequently proved to be manifestly incorrect, will be reimbursed, withheld or not awarded in their totality. In addition to some of the benefits provided to the others EDP employees, which the members of the Executive Board of Directors also benefit from, the members of this Board must also benefit, by virtue of the duties performed and in accordance with market practices and EDP's culture from a set of fringe benefits, of a non- financial nature. Similarly what occurs with other EDP employees and in accordance with the legislation and no. 1 of Article 28 of EDP's Articles of Association, the Company must provide directors with a supplementary retirement pension due to old age or disability or, in its place, and in accordance with the practice consistently followed by the company, a retirement savings plan or equivalent instrument, namely a unit linked capitalization insurance. The Financial Matters Committee and the Corporate Governance and Sustainability Committee of the General and Supervisory Board shall, together with the Remuneration Committee of the General and Supervisory Board and at its request, monitor the adequacy and application of the Policy of Remuneration of the Executive Board of Directors and other documents, namely of a regulatory nature that develop it, with a view to ensuring its compliance with the legislation and internal policies and risk culture of EDP, as well as evaluating its effects on the appetite for risk and how such effects are managed. The Remuneration Committee of the General and Supervisory Board ensures certification, by an independent entity, of the application of performance metrics in accordance with the approved Remuneration Policy. Any action by the Remuneration Committee of the General and Supervisory Board in which it makes use of the discretionary decision-making powers assigned to it in this Remuneration Policy must be disclosed and substantiated in the Remuneration Report for the financial year in question. Without prejudice to a proposal for an extraordinary review during the term of office according to benchmark criteria, the Remuneration Policy will be valid for a period of three years (2024-2026) and should be the subject of a proposal for renewal or revision to be submitted to the General Shareholders' Meeting of EDP to be held in 2027. The members of the Executive Board of Directors of EDP do not enter into contracts, either with the Company or with third parties, the effect of which is to mitigate the risk associated with the variability of the remuneration determined for them by the Company. Apart from the situations described in this Remuneration Report, there are no contracts in force at EDP that foreseeing payments in the event of dismissal or termination by agreement of the members of the Executive Board of Directors' duties. Components of the remuneration of the members of the Executive Board of Directors Fixed Component – Base Remuneration The base remuneration of the members of the Executive Board of Directors must be aligned with the base remuneration practiced by a group of companies comparable with Executive Board of Directors, of the national market (PSI 20 Index) and of the international electricity sector, in terms of size, market capitalization, risk profile, relevance and geographic implantation, also considering, at all times, the complexity of the functions performed, the remuneration conditions of EDP workers and the average remuneration gap of the market between workers and managers. The fixed component of Executive Board of Directors members' remuneration may be annually updated whenever the consumer price index relating to Portugal increases by 4% or more annually. The remuneration levels for Executive Board of Directors are as follows: a. Annual base remuneration of the Chair of the Executive Board of Directors: 950,000.00 Euros; and b. Annual base remuneration of the other members of the Executive Board of Directors: 644,000.00 Euros. The base remuneration of the members of the Executive Board of Directors is paid in 14 monthly instalments. Variable remuneration The variable remuneration of the members of the Executive Board of Directors is based on the success of the short and long-term performance of EDP, pursuant to the budget and business plan in effect, considering the performance of that Board and the EDP Integrated Annual Report 2025 Remunerations Report Index 277
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individual performance of each member of the Executive Board of Directors, determined based on parameters of a financial and non- financial nature, individual and collective, absolute, and relative, in the terms indicated below. Annual Component The maximum annual variable remuneration may not be higher than 110%, in the case of the CEO, and 80% for the other members of the Executive Board of Directors of the base remuneration in force in the year to which the referred annual variable remuneration refers, being determined, and falling due, after the approval of accounts for the year to which it relates. The annual variable remuneration has the nature of an incentive/ performance bonus linked to short-term financial and non- financial objectives (linked to the budget), assessed annually, with a reflection on the year under evaluation and possible repercussions in the following years, being paid in cash. The annual variable remuneration accrues on 31 December of each year, and its value is determined within three months after the approval of EDP's accounts at the Annual General Shareholders Meeting each year, by reference to the previous annual performance period. The annual variable component is allocated according to the following parameters, calculated on a linear basis: • If the performance reaches less than 85% of the defined objectives, there is no place for the attribution of an annual variable component; • If the performance achieved is between 85% (inclusive) and 95% (exclusive) of the defined objectives, an amount within the range of 10% to 25% of the fixed reference remuneration of each Executive Board of Directors member is due; • If the performance achieved is between 95% (inclusive) and 100% (exclusive) of the defined objectives, an amount within the range of: (i) 25% to 75% in case of the CEO, and (ii) 25% to 52.5% in the case of the other members of the Executive Board of Directors, of their fixed reference remuneration is due; • If the performance achieved is between 100% (inclusive) and 110% (exclusive) of the defined objectives, an amount within the range of (i) 75% to 110% in case of the CEO, and (ii) 52.5% to 80% in the case of the other members of the Executive Board of Directors of their fixed reference remuneration; • If the performance achieved reaches more than 110% of the objectives set, the amount corresponding to (i) 110% in the case of CEO and (ii) 80% in the case of the other members of the Executive Board of Directors of their fixed reference remuneration. The performance level of a given quantitative objective must be greater than or equal to 85% for that same objective to be taken into account when calculating total performance, and each quantitative objective will have a performance ceiling of 120%. Graphically: The payment of annual performance bonus is made in the year following that to which the bonus refers to provided that the annual amount of the bonus is not higher than 25% of the relevant total annual remuneration, including the base remuneration and the variable annual and multi-annual remuneration. If the conditions for immediate payment are not met, and EDP, as determined by the Remuneration Committee of the General and Supervisory Board, does not determine that the annual variable remuneration is reasonably efficient, the bonus shall be partially deferred in 50% for a period of three years, with one third of the 50% being paid in each year. Key annual performance indicators (and weights) against budget the year of reference. Quantitative component: • Growth – Earnings per share recurring (20%) • Shareholder remuneration – Total Shareholder return vs Eurostoxx utilities (20%) • Balance sheet solidity – Funds from Operations/Net Debt (10%) • Operational efficiency – Recurring Cash OPEX (10%) • ESG indicators (20%) EDP Integrated Annual Report 2025 Remunerations Report Index 278
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• Dow Jones Sustainability Index Results • Performance in the employees’ yearly climate study • Performance in the customer satisfaction index The total shareholder return indicator (Total Shareholder Return vs Eurostoxx Utilities) will be calculated using the volume weighted average closing price of EDP shares and of the Eurostoxx Utilities index in the last 30 trading days of the year being evaluated, together with dividends paid during that period, in comparison with the volume weighted average price of EDP shares and of the Eurostoxx Utilities index in the month ending 31 December prior to the year being evaluated. The 80% resulting from the weighted sum of these indicators reflects a performance that is common to all members of the Executive Board of Directors. Qualitative component: The remaining 20% result from an individualized qualitative assessment carried out by Remuneration Committee, based on the individual performance of each of the members of the Executive Board of Directors, and after consulting the Executive Board of Directors, based on the following indicators: • Implementation of the Business Plan in the year (25%) • Team management (25%) • Teamwork (25%) • Stakeholders management (25%) EDP Integrated Annual Report 2025 Remunerations Report Index 279
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In view of the implementation of the Remuneration Policy for the Executive Board of Directors approved at the General Shareholders' Meeting of 14 April 2021 and applicable during the 2021-2023 term of office, the Remuneration Committee of the General and Supervisory Board considered, within the scope of its activity, the factors for determining the annual variable remuneration for the following year 2024: KPI Description Weight Comparative Objective [Min – Max] 2024 Results Performance [85% - 120%] Quantitative Component (80%) Growth - Earnings per share recurring Comparison of the net profit per share for the year under review with the objective previously defined in the annual budget, which received a favourable prior opinion from the General and Supervisory Board 20% Budget 2024 0.32 [85% -120%] 0.33 103% Total shareholder return vs Eurostoxx utilities Comparison of the return for EDP shareholders on the market (TSR) with the TSR of a reference index, the Eurostoxx utilities (SX6E, which includes the main companies in the utilities sector in the Eurozone). 20% SX6E 100% [85% - 120%] 74% 0% Balance sheet strength - Funds from operations / Net Debt Comparison of the ratio between Funds from operations and net debt with the objective previously defined in the annual budget approved by the General and Supervisory Board 10% Budget 2024 20.9 % [85% - 120%] 21.5% 103% Operational efficiency - Recurrent cash OPEX Comparison of the cash OPEX achieved in the year under review with the same indicator considered in the annual budget approved by the General and Supervisory Board 10% Budget 2024 €2,325M [85% - 120%] €2,209M 105% ESG Indicators Dow Jones Sustainability Index results 8% Annual evolution of indexes and studies 100% [85% - 120%] 115% 115% Performance in the annual employee climate survey 6% 100% [85% - 120%] 98% 98% Performance in the customer satisfaction index 6% 100% [85% - 120%] 107% 107% Total 80% KPI Description Weight Comparative Qualitative Component (20%) Individual Performance Assessment Individualised qualitative assessment carried out by the Remuneration Committee of the General and Supervisory Board, based on the individual performance of each member of the Executive Board of Directors, and after consultation with this body, based on the following indicators: • Implementation of the Business Plan in the year (25%); • Team management (25%); • Teamwork (25%); • Stakeholder management (25%) 20% - EDP Integrated Annual Report 2025 Remunerations Report Index 280
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Multiannual Component The multiannual variable remuneration accrues at the end of the term of office, will be determined within three months after the approval of accounts for the last financial year of the three-year period to which it relates and will be paid in EDP Shares. At the request of the member of the Executive Board of Directors, the Remuneration Committee of the General and Supervisory Board may determine that part of the multi-annual variable remuneration be converted into cash at the time of payment, to the strict extent necessary to cover the income tax levied on that income. The number of EDP Shares to be awarded to each member of the Executive Board of Directors will be the one resulting from the quotient between the value of the remuneration calculated as to be paid in EDP shares after performance evaluation, divided by the price attribution of EDP Shares corresponding to the volume weighted average price of EDP shares in the last 30 trading days of the last financial year prior to the approval of the Remuneration Police, by the EDP Annual General Shareholders Meeting held on 10 April 2024. The number of EDP Shares to be allocated to each member of the Executive Board of Directors will be adjusted, over time and after its initial calculation, according to the corporate facts/events that affect EDP shares (such as stock splits, reverse stock splits, reduction of the nominal value of shares, reduction of share capital, among others) and also at the time of the actual delivery of the shares according to the dividends paid or declared and not paid, between the end of the multiannual period to which the remuneration relates and the date of delivery of the shares. The multi-annual variable remuneration will be measured according to the fulfilment of long-term financial and non-financial objectives in accordance with the Business Plan approved by EDP, including the Company's sustainability metrics within the scope of ESG (Environment, Social and Governance) policies and objectives. The payment of 50% of the multiannual variable remuneration payable in EDP Shares will be deferred and must be paid in three equal and successive annual instalments, being due, respectively, the first, one year, the second, two years and the third, three years after the annual General Shareholders' Meeting in which the accounts are approved EDP corresponding to the last year of the term in question. The payment of a significant part of the multi-annual variable remuneration component in EDP Shares reinforces the focus on the capital market and the alignment of the interests of the members of the Executive Board of Directors with shareholders. The maximum multiannual variable remuneration cannot be higher than 185%, in the case of the CEO, and 145%, in the case of the other members of the Executive Board of Directors, of the base remuneration earned during the three-year benchmark period, being attributed according to the following parameters, calculated on a linear basis: a. If the performance achieved is less than 85% of the defined objectives, there will be no multiannual variable remuneration attribution; b. If the performance achieved is between 85% (inclusive) and 95% (exclusive) of the defined objectives, it is due an amount within the range of 15% to 40% of the base total remuneration of each member of the Executive Board of Directors; c. If the performance achieved is between 95% (inclusive) and 100% (exclusive) of the defined objectives, an amount within the range of: (i) 40% to 125% in the case of the CEO and (ii) 40% to 97.5% in the case of the other members of the Executive Board of Directors, of the respective base total remuneration is due; d. If the performance achieved is between 100% (inclusive) and 110% (exclusive) of the defined objectives, an amount within the range of: (i) 125% to 185%, in the case of the CEO and (ii) 97.5% to 145%, in the case of the other members of the Executive Board of Directors, of the respective base total remuneration is due; e. If the performance achieved meets the defined objectives in 110% or more, an amount equal to: 185%, in the case of the CEO and 145%, in the case of the other members of the Executive Board of Directors, of the respective base total remuneration is due. The performance level of a given quantitative objective must be greater than or equal to 85% for that same objective to be taken into account when calculating total performance and each quantitative objective will have a maximum performance limit of 120%. Graphically: EDP Integrated Annual Report 2025 Remunerations Report Index 281
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Key multi-annual performance indicators for the three- year term of office (and weightings) against the 2021-2025 Business Plan subject to a prior favourable opinion of the General and Supervisory Board issued at the meeting held on 24 February 2021, after approval by the Executive Board of Directors. Quantitative component: • Shareholder remuneration - Total shareholder return vs Eurostoxx utilities (40%) • Growth - Earnings per share recurring cumulative (20%) • ESG indicators (20%) • Increase of share of renewable energy production • Emissions reduction • Bloomberg Gender Equality Index Performance The total shareholder return indicator (Total Shareholder Return vs Eurostoxx Utilities) will be calculated using the volume weighted average price of EDP shares and of the Eurostoxx Utilities index in the last 30 trading days of the last year of the three year period being evaluated, together with dividends paid during that period, in comparison with the volume weighted average price of EDP shares and of the Eurostoxx Utilities index in the last 30 trading days of the year prior to the first year of the three year period being evaluated. The 80% resulting from the weighted sum of these indicators reflects a performance that is common to all members of the Executive Board of Directors. Qualitative component: The remaining 20% result from an individualized qualitative assessment carried out by the Remuneration Committee of the General and Supervisory Board, based on the individual performance of each of the members of the Executive Board of Directors, and after consulting the Executive Board of Directors, based on the following indicators: • Strategy and execution (25%) • Employee development (25%) • Teamwork and new forms of working (25%) • Stakeholders Management (25%) The multiannual variable remuneration will only be due if, at the end of the mandate and considering the entire term of the mandate, an average of 85% of the objectives set has been reached. The payment of the multi-annual variable remuneration is subject to the permanence of the members of the Executive Board of Directors in office until the end of the three-year period of relevant performance, without prejudice to the provisions of the Remuneration Policy, regarding cases of neutral, favourable or agreed departure. The members of the Executive Board of Directors are prohibited from entering into contracts, either with EDP or with third parties, which have the effect of mitigating the risk inherent in the variability of the remuneration set for them by EDP. EDP Integrated Annual Report 2025 Remunerations Report Index 282
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In view of the implementation of the Remuneration Policy for the Executive Board of Directors approved at the General Shareholders' Meeting of 14 April 2021 and applicable during the 2021-2023 term of office, the Remuneration Committee of the General and Supervisory Board considered, within the scope of its activity, the factors for determining the multi-annual variable remuneration for the following year 2023: KPI Description Weight Comparative Objective [Min – Max] 2023 Finals Performance [85%-120%] Quantitative Component (80%) Total Shareholder return (TSR) vs Eurostoxx utilities Comparison of the return generated for EDP shareholders on the market (TSR) with that of the Eurostoxx utilities reference index (SX6E, which includes the main com-panies in the utilities sector in the Eurozone). This comparison is made between share prices over a three- year period and takes into account the reinvestment of dividends received in the period. 40% SX6E 100% [85% -120%] 87% 87% Earnings per Share cumulative recurring Comparison of net profit per share with the target previously set for that year in the multi- annual Business Plan, subject to a favourable prior opinion from the General and Supervisory Board. 20% Business Plan 0,65 [85% - 120%] 0,74 115% ESG indicators Increasing the share of renewable energy production. 7% Multi-annual development 81% [85% - 120%] 85% 105% Reducing the intensity of emissions. 7% 106 [85% - 120%] 81 120% Performance in the Bloomberg Gender-Equality Index. 7% (=AVG) [85% - 120%] >AVG 120% Total 80% KPI Description Weight Comparative Qualitative Component (20%) Individual Performance Assessment Individual assessment of the performance of each member of the Executive Board of Directors during the period in question, carried out by the Remuneration Committee of the General and Supervisory Board, after consulting the Executive Board of Directors, based on the following indicators: •Strategy and execution (25%) •Employee development (25%) •Teamwork and new ways of working (25%) •Stakeholder management (25%) 20% - EDP Integrated Annual Report 2025 Remunerations Report Index 283
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As part of the implementation of the Remuneration Policy for the Executive Board of Directors approved at the General Shareholders' Meeting of 14 April 2021 and applicable during the 2021-2023 term of office, below is a summary table of the remuneration framework applicable to the members of the Executive Board of Directors during that term of office: Element Approved at GSM 2021 2021 2022 2023 2024 2025 2026 Fixed component Fixed Remuneration Defined by REMC Retirement Savings Plan Net amount corresponding to 10% of the base remuneration Other benefits Insurance, use of car Variable remuneration – annual component Variable Remuneration Maximum of 80% of fixed remuneration 70% - award 2021 15% - award 2021 15% - award 2021 70% - award 2022 15% - award 2022 15% - award 2022 70% - award 2023 15% - award 2023 15% - award 2023 Variable remuneration – multiannual component Variable Remuneration Maximum of 145% of fixed remuneration Performance period 1/3 of award 2021-23 1/3 of award 2021-23 1/3 of award 2021-23 Other corporate governance topics Clawback and Malus rules Remuneration paid during the period in which the facts were committed, overdue, or to be awarded, will be refunded, retained, or not awarded Clawback and Malus: the right to variable remuneration and its effective payment is conditioned to the non-performance, by the members of the Executive Board of Directors, of any wilful unlawful acts known after the evaluation has been carried out and that cause damage to EDP or jeopardize the sustainability of performance of EDP and are the subject of a claim for damages against EDP, presented by shareholders or third parties. EDP Integrated Annual Report 2025 Remunerations Report Index 284
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Performance evaluation of the General and Supervisory Board and qualitative assessment of the Executive Board of Directors to be carried out by the Remuneration Committee of the General and Supervisory Board Under the terms of the Remuneration Policy in force, the remuneration of directors comprises a qualitative component, reflected in the annual variable remuneration (weighted by the individual performance evaluation of each of the members of the Executive Board of Directors, representing 20% and taking into account performance during one year) and the multi-annual variable remuneration (weighted by the individual performance evaluation of each of the members of the Executive Board of Directors, representing 20%, and taking into account the performance during the three-year period). As an input for determining these qualitative components, the General and Supervisory Board carries out an annual self- assessment of its activity and performance, as well as of the respective Specialized Committees, whose conclusions are presented in the annual activity report of the General and Supervisory Board (Article 12 of the Internal Regulations of the General and Supervisory Board). This corporate body also carries out an independent assessment of the activity and performance of the Executive Board of Directors, conclusions of which are presented to the General Shareholders’ Meeting and annexed to above referred report. EDP, on the initiative of the General and Supervisory Board, voluntarily instituted a formal and objective process to assess both the activity of this body and the activity of the Executive Board of Directors. The experience of recent years has allowed the General and Supervisory Board to introduce some changes to the process with a view to making it more effective and efficient. During 2025, the methodology adopted comprised the following steps: • conduction of the process of collective evaluation of the General and Supervisory Board, its Specialized Committees, and the Executive Board of Directors by an external entity, with a view to carrying out interviews based on individual questionnaires to the members of the supervisory body and to support in completing and validation of the treatment of information supporting the evaluation process; • at the beginning of 2026, each member of the General and Supervisory Board was interviewed by specialized consultants, answering questions of a quantitative and qualitative nature; namely, issues related to the composition, organization and functioning, performance of the General and Supervisory Board's activity and the relationship of this Board with its Specialized Committees and with other EDP governing bodies were analysed; likewise, issues related to the composition and organization of the Executive Board of Directors, performance of the respective activity and the relationship between the Executive Board of Directors and the General and Supervisory Board were analysed; • assessment reports were produced by the General and Supervisory Board, its Specialized Committees, and the Executive Board of Directors, which were made available for consideration at a meeting of the General and Supervisory Board; • at a meeting, the General and Supervisory Board issued the respective assessment opinions, which are included in this body's annual activity report; • at the General Shareholders' Meeting, in the point concerning the assessment of the Executive Board of Directors, the Chair of the General and Supervisory Board presents the respective opinion. In January 2026, the General and Supervisory Board also contracted Mercer (Portugal), Lda. to provide services within the scope of certification of the evaluation process of the afore mentioned body, its Specialized Committees, and the Executive Board of Directors. These certifications can be consulted in the 2025 Annual Report of the General and Supervisory Board. Maximum potential amount in case of full compliance with the defined objectives By reference to each year of term-of-office, the maximum potential amount to be attributed to the members of the Executive Board of Directors under the Remuneration Policy in force, in the event of full compliance with the defined objectives, which implies the payment of the maximum amounts fixed for the annual and multi-annual variable remuneration, under the terms described above, is the following: • Chair of the Executive Board of Directors: 3,752,500 Euros • Remaining members of the Executive Board of Directors: 8,372,000 Euros • Total amount: 12,124,500 Euros EDP Integrated Annual Report 2025 Remunerations Report Index 285
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Itemized Remuneration The gross global amount paid by EDP to the members of the Executive Board of Directors in 2025 was 7,916,129.05 Euros, of which 5,824,472.26 Euros refer to the 2024-2026 term of office starting on 10 April 2024 and 2,091,656.79 Euros regarding the 2021-2023 term. The following chart illustrates the breakdown between the rounded amounts paid, in millions of Euros, during 2025 for each of the mandates: Remuneration of the Executive Board of Directors* (millions of EUR) 2.1 5.8 7.9 21-23 24-26 TOTAL * Includes the remuneration of the Executive Board of Directors currently in office (2024-2026 term) and the Multiannual Remuneration of the Executive Board of Directors in office during the previous term (2021-2023). EDP Integrated Annual Report 2025 Remunerations Report Index 286
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The table below shows, in euros, the gross remuneration paid in 2025, individually, to the members of the Executive Board of Directors in office for the 2021-2023 and 2024-2026: Gross Remuneration Paid in Euros by EDP Fixed (1) (2) Annual Variable (2022) Annual Variable (2023) Annual Variable (2024) Multiannual Variable (2021-2023) Received in EDP Shares (3) Total 2025 (2021-2023 and 2024-2026) Miguel Stilwell de Andrade 1,223,932.43 88,080.00 83,460.00 122,075.00 638,611.00 (185,212 EDP Shares) 2,156,158.43 Rui Manuel Rodrigues Lopes Teixeira 846,219.79 61,194.00 57,498.00 82,754.00 435,913.00 (126,425 EDP Shares) 1,483,578.79 Vera de Morais Pinto Pereira Carneiro 819,582.17 59,346.00 57,498.00 82,754.00 435,913.00 (126,425 EDP Shares) 1,455,093.17 Ana Paula Garrido de Pina Marques 785,419.37 59,346.00 57,498.00 82,754.00 435,913.00 (126,425 EDP Shares) 1,420,930.37 Pedro Collares Pereira de Vasconcelos 1,114,809.5 (4) - 57,498.00 82,754.00 145,306.79 (42,142 EDP Shares) 1,400,368.29 (1) The remuneration of the members of the Executive Board of Directors includes the amounts relating to the Retirement Savings Plan, as well as the values corresponding to remuneration in kind associated with the use of personalised-use vehicles and, where applicable, the exercise of the purchase option for p e r s o n a l i s e d - u s e v e h i c l e s . (2) As mentioned in the Remuneration Report for the previous financial year, in January 2025 a correction was made, resulting in an adjustment of -€2,927.40 for the Chair of the Executive Board of Directors and -€1,639.34 for the other members of the Executive Board of Directors, in the amount paid as a Christmas bonus. (3) In accordance with the Remuneration Policy in force and following assessment by the Remuneration Committee of the General and Supervisory Board, one third of the multi-annual variable remuneration was paid in EDP shares, in which context a total of 606,629 EDP shares were distributed, based on an average share price of €3.448. (4) Includes (i) the amount of €112,797.74, of which €42,798.76 was paid in shares representing EDP's share capital, corresponding to a long-term incentive for functions previously performed at the EDP Group, and (ii) an amount of €202,875.00 relating to a special performance bonus, also relating to functions previously performed at the EDP Group. EDP Integrated Annual Report 2025 Remunerations Report Index 287
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In 2025, no amounts earned by members of the Executive Board of Directors were paid by other companies in a control or group1 relationship or that are subject to a common control, in Portugal or abroad. In 2025, the Remuneration Committee of the General and Supervisory Board hired an external consultant, Mercer (Portugal), Lda., to provide support in the validation and certification of the calculation of the annual and multi-annual variable remuneration of the members of the Executive Board of Directors. Additional benefits The members of the Executive Board of Directors have the following benefit and rights (fringe benefits): • Payment of an annual Life Insurance and Personal Accident Insurance premium (along with the other associated costs) under the terms that will take as reference the policies in force at EDP; • Payment of an annual premium for / co-payment of / access to Health Insurance, extendable to spouse and children (along with other associated costs); • Use of a vehicle, in terms of the culture and practice consistently followed at EDP for service vehicles, which includes, for the members of the Executive Board of Directors, the assignment of a driver, payment of costs and expenses related to the vehicle and its use. Except in cases of variable remuneration programs already closed, the benefits and rights granted to the members of the Executive Board of Directors under the employment contracts they have entered into with EDP will be suspended during the exercise of their respective functions as members of the Executive Board of Directors, thus not adding to the benefits and rights indicated above. Without prejudice to the foregoing, the members of Executive Board of Directors who, having been appointed during a current term of office and who, due to the suspension of an employment contract they have concluded with EDP or another Group company, lose their right to performance bonuses, may request the Remuneration Committee of General and Supervisory Board to replace the multiannual variable remuneration with variable remuneration having the same conditions as that which would be attributed under the employment contract. In any case, the variable remuneration awarded under this paragraph may not exceed the maximum limits established for the variable remuneration components in the Remuneration Policy. The benefits and rights attributed to the members of the Executive Board of Directors under the terms of the Remuneration Policy may, by decision of the Remuneration Committee of the General and Supervisory Board, with a favourable opinion from the Corporate Governance and Sustainability Committee, be adjusted according to the practices market and continued alignment with EDP's general human resources policy applicable at any given time, and must be justifiably reported in the first remuneration report that is presented after the aforementioned adjustment. Pursuant to Article 402 of the Portuguese Companies Code and no. 1 of Article 28 of EDP's Articles of Association, the Company may create old-age or disability retirement pension supplements in favour of the members of the Executive Board of Directors. EDP has not created a supplementary retirement pension fund or plan for directors, instead making annual contributions / or co- contributions with the director to a Retirement Savings Plan ("PPR") in a net amount corresponding to 10% of the respective remuneration base. The PPR is subscribed by EDP with the insurance company of its choice, indicating the executive director as an insured person and EDP's defined contribution will be paid in 12 monthly instalments. The characteristics of the PPR will correspond to the usual characteristics in the market for this type of product, being refundable before the end of the respective term, under the terms legally applicable to these financial products. The PPR currently made available to the members of the EBD may, upon a favourable opinion from the Remuneration Committee of the General and Supervisory Board, be replaced by unit linked capitalization insurance or equivalent vehicle, depending on the offer and market practices at all times. Malus and clawback rules The right to variable remuneration and its effective payment is conditioned to the non-performance, by the members of the Executive Board of Directors, of any malicious illegal acts known after the evaluation has been carried out, and which cause damage to EDP or jeopardize the sustainability of performance of EDP and are the subject of a claim for compensation to EDP, by shareholders or third parties. If the provisions of the previous paragraph are verified, the variable remuneration paid during the period of practice of the facts, overdue, or to be awarded, will be reimbursed, withheld, or not awarded to compensate for the damages caused up to the competition of the full amount thereof. Variable components of remuneration linked to metrics of a financial and quantitative nature, awarded on the basis of data that subsequently proves to be manifestly incorrect, will be reimbursed, withheld or not awarded in full. EDP Integrated Annual Report 2025 Remunerations Report Index 288 1 Definition of group within the meaning of paragraph g) of no. 1 of article 2 of Decree-Law no. 158/2009, of 13 July, in accordance with paragraph d) of no. 2 of article 26-G of the Portuguese Securities Code
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Payments in the event of early termination of service EBD members are elected for three-year terms, with the current term running from 2024 to 2026. There are no agreements with the members of the Executive Board of Directors that provide for the advance payment of indemnities or compensation in the event of termination of office before the end of the term, or of non-re-election. The multiannual compensation serves two purposes: as an incentive and as a reward for performance. With the passage of time, the weight of the incentive purpose diminishes while the weight of reward for performance aspect increases. Therefore, in the event of a favourable or neutral departure of the members of Executive Board of Directors, part of the multiannual variable remuneration may be allocated to reward the member's performance. For the purposes outlined in this policy: • An "unfavourable departure" means the dismissal of an Executive Board of Directors member for cause or the early termination of his/her appointment that does not qualify as a favourable, neutral, or by mutual agreement departure; • A "neutral departure" means the voluntary resignation of an Executive Board of Directors member after serving a minimum of 2 full years that (i) does not qualify as a departure by mutual agreement, and (ii) that is accompanied by the execution of a non-compete agreement for a period of at least 2 years; • A "favourable departure" means the early termination of his/her appointment for reasons beyond the control of the Executive Board of Directors member; • A "departure by mutual agreement" means the termination of the appointment through an agreement with EDP, where the director consents to resign from the position and is accompanied by the execution of a non-compete agreement for a period of at least 2 years. In the event of: i. an unfavourable departure, the director is entitled to receive solely the remuneration, both fixed and variable, already accrued up to the date of termination of duties, with payment occurring under the same terms and within the same timeframe as for the Executive Board of Directors members who remain in office; ii. a neutral departure, the Remuneration Committee of General and Supervisory Board may grant the administrator the right to receive up to 50% of the multiannual variable remuneration that would have been due at the end of the term, had they remained in office, with payment occurring under the same terms and within the same timeframe as for the Executive Board of Directors members who remain in office; iii. a favourable departure, the director is entitled to receive the entire fixed remuneration owed up to the end of their term, along with the variable remuneration accrued up to the termination date, under the same terms and timeline as directors remaining in office. Additionally, they are entitled to a portion of the annual variable remuneration for the then current year and any unaccrued multiannual remuneration related to the then current term of office, pro rata to the period of the term actually served and the right to receive any other benefits inherent to the actual performance of duties for incomplete annual or multiannual performance periods shall lapse; iv. an exit by mutual agreement, the director is entitled to receive the agreed compensation, which cannot exceed (i) the fixed remuneration amount until the end of the term, plus (ii) the full variable remuneration over the annual or multi-annual performance period, payable upon determination at the end of the relevant performance periods, as if the director had remained in office. In accordance with market practice, the Remuneration Committee of the General and Supervisory Board may also approve the execution of non-compete agreements with the outgoing executive director, whatever the cause of the termination of service, or, within the scope of the termination of service agreement, establish an obligation of non-competition with EDP for a determined period of time, which includes the payment of compensation in exchange for the aforementioned non- competition obligation. B. Remuneration policy applicable to members of the Governing Bodies approved by the Remuneration Committee elected by the General Shareholders' Meeting2 The Remuneration Committee elected by the General Shareholders' Meeting takes into account, for the purposes of the proposed Remuneration Policy for the members of the General and Supervisory Board, the Board of the General Shareholders' Meeting and the Statutory Auditor, the duties performed, the fixed nature of the remuneration, as well as the mandatory rules on their determination, in particular the provisions of number 2 of article 440 of the Commercial Companies Code, which explains the criteria for determining the remuneration of the General and Supervisory Board, in article 374-A of the Commercial Companies Code, in article 60 of Decree-Law no. 224/2008, of 20 November, on the remuneration of the Statutory Auditor. EDP Integrated Annual Report 2025 Remunerations Report Index 289 2 This Item addresses ESRS 2 GOV-3.
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It is therefore incumbent upon the Remuneration Committee elected by the General Shareholders' Meeting to set the remuneration of the members of the following governing bodies: Board of the General Shareholders' Meeting, Chair and members of the General and Supervisory Board and the Statutory Auditor. Considering the competence of the Remuneration Committee elected by the General Shareholders' Meeting it only promotes the definition of fixed remunerations, so the legal determinations and others relating to variable remuneration, with their various dimensions, are not applicable here, without prejudice to the necessary alignment with the principles that shape EDP’s remuneration policies Procedures for adopting the policy In the definition of the Remuneration Policy, proposals are made to ensure that remuneration is adequate, contribute to the business strategy and sustainability of EDP and reflect the risk profile and the long-term objectives and interests of EDP, showing still complying with legal norms, principles, and relevant national and international recommendations. The Remuneration Committee elected by the General Shareholders’ Meeting is also attentive to market references, particularly those relating to companies listed on the Portuguese stock exchange. Also in defining this policy, the Remuneration Committee elected by the General Shareholders' Meeting maintains interactions both with members of the relevant governing bodies and with the Company's stakeholders. As is the case of the Executive Board of Directors, the General and Supervisory Board and its Specialized Committees, the Remuneration Committee elected by the General Shareholders’ Meeting develops mechanisms for the prevention and management of conflicts of interest, under the terms set out in article 11 of the EDP Articles of Association, observing the following essential rules: i. When a member of the Remuneration Committee is in a situation of actual or apparent conflict of interest in a decision to be taken by this body, he must previously inform the Committee of the facts that may constitute or give rise to a conflict between their interests and the Company's interests. ii. In the situation referred to in the previous number, the member of the Remuneration Committee must abstain from participating and voting at the meeting in which the topic is discussed and voted on, without prejudice to the duty to provide information and clarifications that the Committee or the respective members ask you. It should also be noted that, under the statutory terms, the Remuneration Committee elected by the General Shareholders' Meeting is composed of a majority of independent members. General Definition and Characterization When defining the Remuneration Policy presented by the Remuneration Committee and approved at the General Shareholders' Meeting, held on 10 April 2024, the following factors were considered: i. Experience has shown that the duties of the General and Supervisory Board are increasingly demanding and complex, which means that it has to be more available, and its members have to be adequately remunerated. ii. For this reason, the remuneration of the governing bodies, with the exception of the remuneration of the Chair of the General and Supervisory Board, underwent a significant increase in the last term of office. iii. Following the amendment to the Articles of Association, the Chair of the General Shareholders' Meeting may no longer inherently be a member of the General and Supervisory Board. Without prejudice to this change, the Chair of the General Meeting of Shareholders may be asked to take part in meetings of the GSB, which shall define the conditions of participation and remuneration. iv. The Remuneration Committee also considered the high inflation rates of recent years, making it necessary to update remuneration. This update has also taken into account the one that will be proposed for the members of the Executive Board of Directors in order to ensure adequate consistency. v. Without prejudice to the above, the Remuneration Committee is aware that the remuneration must also consider market comparable and be sufficiently attractive and adjusted to the responsibility of the functions, in a Company that has a strong international presence and aims to attract the most qualified professionals; In view of the above, and as provided for in the approved Policy, at the beginning of 2026 the Remuneration Committee carried out a benchmark study, essentially relating to the remuneration of the General and Supervisory Board, in order to assess the standards referred to and to be able to recommend, in a sustained manner, any changes that may be justified. The Remuneration Policy for the Members of the Governing Bodies aims to comply with the applicable legal provisions, and incorporate the corporate governance guidelines set out in the IPCG Corporate Governance Code adopted by the Company, framing within the guidelines that have been defined by the Company's reference shareholders, which are formulated in accordance with the aforementioned applicable rules and recommendations and with the best practices existing in the sector. It should be noted, as already mentioned, that the Remuneration Policy for the Members of the Governing Bodies has a necessarily limited and reduced scope, since the definition of the Remuneration EDP Integrated Annual Report 2025 Remunerations Report Index 290
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Policy for the members of the Executive Board of Directors is in charge of the Remuneration of the General and Supervisory Board. Therefore, are not within scope of the Remuneration Policy does not include any variable remuneration to directors, remuneration based on shares or any other remuneration complement, a matter that is the responsibility of the Remuneration Committee of the General and Supervisory Board. For this reason, several legal provisions, concerning the referred matters, notably, those set forth in n. 3 and n. 4 of Article 26-C of the Portuguese Securities Code. Principles underlying the remuneration policy of the members of the Governing Bodies (excluding that of the Executive Board of Directors) The Remuneration Committee elected by the General Shareholder’s Meeting defined the Remuneration Policy for the members of the General and Supervisory Board, having as a guiding principles that it should be clear, understandable, simple, transparent, moderate, adapted to the conditions of the work and the Company's economic situation, as well as being competitive and equitable, in order to guarantee the purpose of creating value for shareholders and other stakeholders. The Remuneration Committee elected by the General Shareholders’ Meeting based its decisions on Remuneration Policy on the following main guiding principles: i. Definition of a simple, clear, understandable, transparent policy in line with EDP's culture, so that the remuneration practice can be based on uniform, consistent, fair, and balanced criteria. ii. Definition of a policy consistent with effective risk management and control, to avoid excessive exposure to risk and conflicts of interest and seeking consistency with the Company's long-term objectives and values. iii. Evaluation and encouragement of a judicious action in which merit must be duly rewarded, ensuring levels of homogeneity compatible with the necessary cohesion of the General Supervisory Board, while also considering the economic and financial situation of the company and the country, even though EDP operates on a global scale. iv. Alignment of the remuneration of the various members of the governing bodies by companies with the highest market capitalization and European counterparts, naturally adapted to the Portuguese market. v. The most recent recommendations issued by the European Union and the Securities Market Commission. vi. Alignment of remuneration with the specific responsibilities inherent to the position in question. vii. Alignment of remuneration with the time required to spend in each position. viii. Simplification of the remuneration policy. Structure of the remuneration policy for the members of the Governing Bodies (excluding that of the Executive Board of Directors) Based on these criteria and considering the challenges that the Company intends to pursue during the term of office 2024-2026, the Remuneration Committee elected by the General Shareholders' Meeting decided that the following guidelines should apply: • A distinction must be maintained between the remuneration attributed to the members of the General and Supervisory Board and those fixed to the members of the Executive Board of Directors, with the former not being allocated a variable remuneration component or any other remuneration supplement. • The performance with merit and the complexity of the functions performed by the members of each body must be considered, so that the cohesion, stability, and development of the Society are not jeopardized. • Regarding the Chair of the General and Supervisory Board, it must be considered that the functions require great availability and include a strong component of institutional representation. He may also chair the Financial Matters Committee, without additional remuneration. • If the chairmanship of the Financial Matters Committee is assigned to another member of the General Supervisory Board, other than its Chair, he/she must have a compatible remuneration, depending on the responsibility of the position and the requirement of availability. • It is also important to differentiate the performance of other specific functions, within the scope of the General and Supervisory Board, namely the participation of members of the General and Supervisory Board in other committees, as well as the functions performed in these committees. • It should be considered that it is appropriate to differentiate the Remuneration Committee from the General and Supervisory Board in view of the demands and responsibilities of the role, reflected in particular in the time commitment required for the role. EDP Integrated Annual Report 2025 Remunerations Report Index 291
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C. Specifics applicable to the remuneration of the members of the General and Supervisory Board In compliance with the provisions of article 440 of the Commercial Companies Code, the remuneration of the members of the General and Supervisory Board is of a fixed nature, considering the duties performed. The Remuneration Policy currently in force for the three-year term 2024-2026 was approved at the General Shareholders’ Meeting held on 10 April 2024. The remuneration of the Chair of the General and Supervisory Board was set considering, namely, the necessary availability for the performance of his duties as well as the important component of institutional representation required. In 2025, the remuneration of the Chair of the General and Supervisory Board also includes the costs associated with the use of a vehicle. Remuneration limits Accordingly, and considering the aforementioned, the Remuneration Committee elected by the General Shareholders’ Meeting submitted to the shareholders the proposal for the gross remuneration of the members of the governing bodies identified below, for the financial year that began on 10 April 2024, under the terms that follow: General and Supervisory Board Annual Remuneration Chair of the General and Supervisory Board EUR. 592,000.00 Member of the General and Supervisory Board EUR. 80,500.00 Financial Matters Commission: the following values add to the base remuneration Annual Remuneration Chair: EUR. 90,000.00 (*) (Total de EUR. 170,500.00) Member: + EUR. 35,000.00 (*) Applicable in this term of office, since the function is not performed by the Chairman of the General Supervisory Board. The Remuneration Committee appointed by the General and Supervisory Board increases the base remuneration of a member by the following amounts: Annual Remuneration Chair: EUR.35,000.00 Member: EUR.25,000.00 Other committees: Member of the General and Supervisory Board who holds positions on one or more committees: Annual Remuneration For each Committee in which they participate as Chair: EUR. 30,000.00 For each Committee in which they participate as Member: EUR. 25,000.00 Regarding the establishment of the remunerations listed above, the following rules are also added: • The Chair of the General and Supervisory Board and the Chair of the Financial Matters Committee (if not the Chair of the General Supervisory Board), even if they form part of other committees, will not have any additional remuneration. EDP Integrated Annual Report 2025 Remunerations Report Index 292
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• No other Member of the General and Supervisory Board may, in addition to the basic remuneration, accumulate remuneration in more than two committees, in accordance with the rules referred to above, even if they participate in a greater number. Amounts earned broken down The gross global amount paid by EDP to the members of the General and Supervisory Board in 2025 was 2,379,498.96 Euros. The following table presents the amounts of remuneration paid during the 2025 financial year to the members of the General and Supervisory Board in office, in the 2024-2026 term of office: Members of the General and Supervisory Board Fixed Euro Gross António Bernardo Aranha da Gama Lobo Xavier 591,999.96 China Three Gorges Corporation 80,499.96 China Three Gorges International Limited 105,499.92 China Three Gorges (Europe), S.A. 105,499.92 China Three Gorges Brasil Energia, S.A. 80,499.96 China Three Gorges (Portugal), Sociedade Unipessoal, Lda.(*) 115,500.00 DRAURSA, S. A. 140,499.96 Fernando Maria Masaveu Herrero 130,499.88 Helena Sofia da Silva Borges Salgado Fonseca 115,500.00 Zili Stephen Shao 105,499.92 Alicia Reyes Revuelta 105,499.92 Gonçalo Moura Martins 170,499.96 María José García Beato 140,499.96 Sandra Maria Soares Santos 130,499.88 Stephen Vaughan 130,499.88 Lisa Frantzis 130,499.88 (*) Remuneration paid to the representative Miguel Espregueira Mendes Pereira Leite D. Specifics applicable to the remuneration of the Statutory Auditor Contractual nature At the General Shareholders’ Meeting held on 10 April 2024, PricewaterhouseCoopers & Associados - Sociedade de Revisores de Contas, Lda., Sociedade Revisor Oficial de Contas number 183, represented b y P e d r o M i g u e l O l i v e i r a V i e i r a L i m a ( R O C n . º 1 8 3 5 ) , w a s r e - e l e c t e d t o S t a t u t o r y A u d i t o r f o r t h e t h r e e - year period 2024-2026, having, on the same date, been elected Carlos José Figueiredo Rodrigues ( R O C n . º 1 7 3 7 ) , a s S u b s t i t u t e o f t h e S t a t u t o r y A u d i t o r , t o p e r f o r m d u t i e s d u r i n g t h e a f o r e m e n t i o n e d three-year period. The Remuneration Committee elected by the General Shareholders’ Meeting decided that the remuneration of the Statutory Auditor will correspond to the amounts contained in the “Agreement for the Provision of Professional Auditing Services” entered into between EDP and PricewaterhouseCoopers & Associados - Sociedade de Revisores de Contas, Lda. Scope of activity and services provided PricewaterhouseCoopers & Associados - Sociedade de Revisores Oficiais de Contas, Lda. and its network (PWC) are responsible for carrying out the independent audit of all the companies that make up the EDP Group. All services provided by the Statutory Auditor during the 2025 financial year are detailed in Part III, Item 46, of this Integrated Annual Report. EDP Integrated Annual Report 2025 Remunerations Report Index 293
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Fees earned PwC Euros Portugal Spain Brazil USA Other Countries Total Audit and statutory audit of accounts 3,258,530 1,528,828 785,028 2,777,670 1,743,677 10,093,733 82% Other assurance of reliability services (*) 1,387,935 409,906 283,508 - 24,564 2,105,913 17% Total of audit and assurance of reliability services 4,646,465 1,938,734 1,068,536 2,777,670 1,768,241 12,199,646 Tax consultancy services - - - - - - Other services 7,620 2,312 - 71,339 - 81,271 1% Total of other services 7,620 2,312 - 71,339 - 81,271 Total 4,654,085 38% 1,941,046 16% 1,068,536 9% 2,849,009 24% 1,768,241 13% 12,280,917 100% (*) Includes assurance of reliability services of the exclusive competence and responsibility of the Statutory Auditor in accordance with the Regulations on Provision of Services by Statutory Auditor or Statutory Auditing Company approved by the General and Supervisory Board. The amount of fees for “Audit and statutory auditing” in Portugal includes 1,350,590 Euros corresponding to the fees for statutory audit of the annual, individuals and consolidated accounts of EDP, S.A. Services other than Audit and Legal Review of Accounts requested by Group companies from the External Auditor and other entities belonging to the same network, amounted to 2,187,184 Euros. EDP Integrated Annual Report 2025 Remunerations Report Index 294
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E. Particulars applicable to the remuneration of the Remuneration Committee of the General Shareholders' Meeting The remuneration of the members of the Remuneration Committee of the General Shareholders' Meeting approved by the General Shareholders' Meeting on 10 April 2024 for the 2024-2026 term of office provides for the following: Remuneration Committee of the General Shareholders' Meeting Annual Remuneration Chair: EUR. 25,000.00 Member: EUR. 18,000.00 The members of the Remuneration Committee of the General Shareholders’ Meeting received the following remuneration in the 2025 financial year: Remuneration Committee of the General Shareholders' Meeting Fixed Euro Gross Luís Miguel Nogueira Freire Cortes Martins 24,999.96 Maria da Soledade Gomes Carvalho Duarte Virott da Costa 18,000.00 Maria Manuela Correia de Gouveia Azevedo Cipriano Messias 18,000.00 F. Particulars applicable to the remuneration of the Board of the General Shareholders’ Meeting The Remuneration Policy submitted by the Remuneration Committee elected by the General Shareholders' Meeting, approved at the General Shareholders’ Meeting held on 10 April 2024, provides, as regards the members of the Board of the General Meeting, as follows: Board of the General Shareholders' Meeting Annual Remuneration (*) Chair: EUR. 30,000.00 Vice-Chair: EUR. 5,500.00 (*)Gross amounts The Secretary of the Board of the General Shareholders’ Meeting does not receive remuneration in this capacity, given that is remunerated as Company Secretary. During 2025 the members of EDP's Board of the General Shareholders' Meeting received the following remuneration: Board of the General Shareholders' Meeting Annual Remuneration (*) Luís Maria Viana Palha da Silva EUR. 30,000.00 Inês Viseu Carvalho De Pinto Leite Teles Soares EUR. 5,499.96 (*)Gross amounts EDP Integrated Annual Report 2025 Remunerations Report Index 295
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G. Evolution of the remuneration and performance Remuneration of the Executive Board of Directors (€M) 12.84 10.69 8.58 10.25 8.45 7.92 EBD Members Total Multiannual Annual Fixed 2020 2021 2022 2023 2024 2025 * As a result of the Extraordinary General Shareholders’ Meeting of 19 January 2021, the Executive Board of Directors elected for the 2021-2023 term is made up of 5 members. The amounts shown also include the variable remuneration earned by the members of the Executive Board of Directors in office during the 2018-2020 term (9 members). Remuneration of the General and Supervisory Board (€M) 1.86 2.05 2.04 2.04 2.29 2.38 2020 2021 2022 2023 2024 2025 Recurring Net Profit (€M) €780 €826 €871 €1,290 €1,393 €1,279 2020 2021 2022 2023 2024 2025 Dividends (€M) 694.74 694.74 753.48 753.48 794.96 815.88 836.80 2018 2019 2020 2021 2022 2023 2024 Average Employee Remuneration (€) - gross amount / monthly 3,120 3,069 3,930 4,028 4,364 4,541 4,880 2019 2020 2021 2022 2023 2024 2025 Note: Exchange rate at constant values (average from 2015 to 2017) 3.72 EUR/BRL, applied to the period from 2016 to 2023 EDP Integrated Annual Report 2025 Remunerations Report Index 296 9 5* 5* 5* 5 5
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Financial Statements EDP Integrated Annual Report 2025 Financial Statements Index 297 Bright Stalk Wind Farm | Illinois, US
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EDP Integrated Annual Report 2025 Financial Statements | Index Index 298 Notes to the Consolidated and Company Financial Statements02. Financial Statements01. 309 299
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EDP Integrated Annual Report 2025 Financial Statements | Index Index 299 Financial Statements01. Index FINANCIAL STATEMENTS AND NOTES Charneca das Lebres Hybrid Park | Algarve, Portugal Consolidated Income Statements 300 Consolidated Statements of Changes in Equity Consolidated Statements of Comprehensive Income 303 Consolidated and Company Statements of Cash Flows Company Income Statements 305 Company Statements of Comprehensive Income 307Company Statements of Financial Position 308Company Statements of Changes in Equity 306 301 304 Consolidated Statements of Financial Position 302
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Consolidated Income Statements for the period ended at 31 December 2025 Thousand Euros Notes 2025 2024 Revenues from energy sales and services and other 7 15,606,993 14,965,762 Cost of energy sales and other 7 -8,667,300 -8,092,283 6,939,693 6,873,479 Other income 8 845,559 848,156 Supplies and services 9 -1,078,031 -1,116,812 Personnel costs and employee benefits 10 -829,017 -832,666 Other expenses 11 -920,826 -866,377 Impairment losses on trade receivables and debtors 26 -89,101 -69,826 -2,071,416 -2,037,525 Joint ventures and associates 21 159,446 -34,853 5,027,723 4,801,101 Provisions 36 -11,836 -166,574 Depreciation, amortisation and impairment 12 -2,016,473 -2,372,544 2,999,414 2,261,983 Financial income 13 918,626 977,330 Financial expenses 13 -1,951,237 -1,859,820 Profit before income tax and CESE 1,966,803 1,379,493 Income tax expense 14 -569,057 -506,355 Extraordinary contribution to the energy sector (CESE) 15 -45,043 -47,748 -614,100 -554,103 Net profit for the period 1,352,703 825,390 Attributable to: Equity holders of EDP 30 1,149,726 800,980 Non-controlling Interests 33 202,977 24,410 Net profit for the period 1,352,703 825,390 Earnings per share (Basic and Diluted) - Euros 30 0.28 0.19 LISBON, 25 FEBRUARY 2026 THE CERTIFIED ACCOUNTANT THE MANAGEMENT THE EXECUTIVE BOARD OF DIRECTORS N . º 1 7 , 7 1 3 The following notes form an integral part of these financial statements EDP Integrated Annual Report 2025 Financial Statements and Notes Index 300
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Consolidated Statements of Comprehensive Income for the period ended at 31 December 2025 2025 2024 Thousand Euros Equity holders of EDP Non- controlling Interests Equity holders of EDP Non- controlling Interests Net profit for the period 1,149,726 202,977 800,980 24,410 Items that will never be reclassified to profit or loss (i) Actuarial gains/(losses) (iii) 113,523 2,080 158,723 -269 Tax effect from the actuarial gains/(losses) -18,068 -513 -51,408 74 Fair value reserve of assets measured at fair value through other comprehensive income with no recycling (ii) 7,146 -740 -3,629 -2,154 Tax effect from the Fair value reserve of assets measured at fair value through other comprehensive income with no recycling (ii) -1,873 144 1,081 638 100,728 971 104,767 -1,711 Items that may be reclassified to profit or loss (i) Currency translation reserve -645,267 -375,330 -191,888 85,567 Fair value reserve (cash flow hedge) (ii) 109,261 59,193 240,866 50,909 Tax effect from the fair value reserve (cash flow hedge) (ii) -31,661 -11,491 -73,534 -14,267 Fair value reserve (cash flow hedge) - Joint ventures and associates (ii) 45,797 18,447 3,619 1,864 Tax effect from the fair value reserve (cash flow hedge) - Joint ventures and associates (ii) -5,689 -2,295 -2,193 -1,549 Fair value reserve of assets measured at fair value through comprehensive income with recycling (ii) — — 872 — Tax effect from fair value reserve of assets measured at FV throught other comprehensive income with recycling (ii) — — -222 — Other changes, net taxes -8,201 — -462 — -535,760 -311,476 -22,942 122,524 Other comprehensive income for period (net of income tax) -435,032 -310,505 81,825 120,813 Total comprehensive income for the period 714,694 -107,528 882,805 145,223 (i) See Consolidated Statement of Changes in Equity (ii) See note 32 (iii) See note 35 LISBON, 25 FEBRUARY 2026 THE CERTIFIED ACCOUNTANT THE MANAGEMENT THE EXECUTIVE BOARD OF DIRECTORS N . º 1 7 , 7 1 3 The following notes form an integral part of these financial statements EDP Integrated Annual Report 2025 Financial Statements and Notes Index 301
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Consolidated Statements of Financial Position as at 31 December 2025 Thousand Euros Notes 2025 2024 Assets Property, plant and equipment 16 26,785,422 28,029,324 Right-of-use assets 17 1,110,060 1,209,308 Intangible assets 18 5,417,913 4,656,906 Goodwill 19 3,262,552 3,418,172 Investments in joint ventures and associates 21 1,463,333 1,588,700 Equity instruments at fair value 22 204,373 215,278 Investment property 23 18,523 20,101 Deferred tax assets 24 1,020,277 1,221,462 Debtors and other assets from commercial activities 26 2,855,471 2,287,124 Other debtors and other assets 27 1,870,798 1,595,426 Non-Current tax assets 28 121,351 105,752 Collateral deposits associated to financial debt 34 39,394 21,937 Total Non-Current Assets 44,169,467 44,369,490 Inventories 25 503,613 589,926 Debtors and other assets from commercial activities 26 4,272,965 5,424,040 Other debtors and other assets 27 1,309,109 1,185,270 Current tax assets 28 639,019 726,030 Collateral deposits associated to financial debt 34 31,658 20,632 Cash and cash equivalents 29 3,929,932 3,631,284 Assets held for sale 41 100,612 484,144 Total Current Assets 10,786,908 12,061,326 Total Assets 54,956,375 56,430,816 Equity Share capital 30 4,184,022 4,184,022 Treasury stock 31 -156,588 -63,033 Share premium 30 1,970,996 1,970,996 Reserves and retained earnings 32 4,193,562 4,655,067 Consolidated net profit attributable to equity holders of EDP 1,149,726 800,980 Total Equity attributable to equity holders of EDP 11,341,718 11,548,032 Non-controlling Interests 33 5,164,511 4,657,292 Total Equity 16,506,229 16,205,324 Liabilities Financial debt 34 18,698,782 18,416,186 Employee benefits 35 373,765 388,807 Provisions 36 1,250,935 1,155,632 Deferred tax liabilities 24 1,559,353 1,567,319 Institutional partnerships in North America 37 2,915,509 2,972,735 Trade payables and other liabilities from commercial activities 38 1,369,994 1,557,690 Other liabilities and other payables 39 2,793,968 3,029,715 Non-current tax liabilities 40 132,888 82,568 Total Non-Current Liabilities 29,095,194 29,170,652 Financial debt 34 3,092,107 3,234,649 Employee benefits 35 49,286 53,732 Provisions 36 139,977 190,515 Trade payables and other liabilities from commercial activities 38 4,297,239 5,653,697 Other liabilities and other payables 39 1,140,652 1,057,779 Current tax liabilities 40 620,571 528,480 Liabilities held for sale 41 15,120 335,988 Total Current Liabilities 9,354,952 11,054,840 Total Liabilities 38,450,146 40,225,492 Total Equity and Liabilities 54,956,375 56,430,816 LISBON, 25 FEBRUARY 2026 THE CERTIFIED ACCOUNTANT THE MANAGEMENT THE EXECUTIVE BOARD OF DIRECTORS N . º 1 7 , 7 1 3 The following notes form an integral part of these financial statements EDP Integrated Annual Report 2025 Financial Statements and Notes Index 302
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Consolidated Statements of Changes in Equity for the period ended at 31 December 2025 Reserves and retained earnings (ii) Thousand Euros Total Equity Share capital (i) Share premium (i) Legal reserve Other reserves and retained earnings Fair value reserve (cash flow hedge) Fair value reserve (financ. assets) Currency translation reserve Treasury stock (iv) Equity attribut able to equity holders of EDP Non- controll. Interests (iii) Balance as at 31 December 2023 16,656,803 4,184,022 1,970,996 835,564 6,093,263 -313,145 -4,232 -1,144,222 -69,607 11,552,639 5,104,164 Comprehensive income: Net profit for the period 825,390 — — — 800,980 — — — — 800,980 24,410 Changes in the fair value reserve (cash flow hedge) net of taxes 203,974 — — — — 167,332 — — — 167,332 36,642 Changes in the fair value reserve of assets measured at fair value through other comprehensive income, net of taxes -1,474 — — — — — 42 — — 42 -1,516 Share of other comprehensive income of joint ventures and associates, net of taxes -661 — — — -13,077 1,426 -1,940 12,615 — -976 315 Actuarial gains/(losses) net of taxes 107,120 — — — 107,315 — — — — 107,315 -195 Exchange differences arising on consolidation -106,321 — — — — — — -191,888 — -191,888 85,567 Total comprehensive income for the period 1,028,028 — — — 895,218 168,758 -1,898 -179,273 — 882,805 145,223 Transfer to legal reserve — — — 1,240 -1,240 — — — — — — Dividends paid -811,704 — — — -811,704 — — — — -811,704 — Dividends attributable to non-controlling interests -141,420 — — — — — — — — — -141,420 Share-based payments 7,983 — — — 1,409 — — — 6,574 7,983 — Acquisition of the remaining partnership in windfarms in Europe -505,618 — — — -81,072 38 — 5,332 — -75,702 -429,916 Changes resulting from acquisitions/sales, equity increases/decreases and other -28,748 — — — -7,989 — — — — -7,989 -20,759 Balance as at 31 December 2024 16,205,324 4,184,022 1,970,996 836,804 6,087,885 -144,349 -6,130 -1,318,163 -63,033 11,548,032 4,657,292 Comprehensive income: Net profit for the period 1,352,703 — — — 1,149,726 — — — — 1,149,726 202,977 Changes in the fair value reserve (cash flow hedge) net of taxes 125,302 — — — — 77,600 — — — 77,600 47,702 Changes in the fair value reserve of assets measured at fair value through other comprehensive income, net of taxes 5,526 — — — — — 6,122 — — 6,122 -596 Share of other comprehensive income of joint ventures and associates net of taxes 47,210 — — — 11,204 40,108 -849 -19,405 — 31,058 16,152 Actuarial gains/(losses) net of taxes 97,022 — — — 95,455 — — — — 95,455 1,567 Exchange differences arising on consolidation -1,020,597 — — — — — — -645,267 — -645,267 -375,330 Total comprehensive income for the period 607,166 — — — 1,256,385 117,708 5,273 -664,672 — 714,694 -107,528 Dividends paid -826,502 — — — -826,502 — — — — -826,502 — Dividends attributable to non-controlling interests -100,106 — — — — — — — — — -100,106 Purchase and sale of treasury stock -99,965 — — — — — — — -99,965 -99,965 — Share-based payments 7,767 — — — 1,357 — — — 6,410 7,767 — Operations with North American companies (see note 6) 747,540 — — — -32,208 26,305 — -12,207 — -18,110 765,650 Changes resulting from acquisitions/sales, equity increases/decreases and other -34,995 — — — 15,802 — — — — 15,802 -50,797 Balance as at 31 December 2025 16,506,229 4,184,022 1,970,996 836,804 6,502,719 -336 -857 -1,995,042 -156,588 11,341,718 5,164,511 (i) See note 30 (ii) See note 32 (iii) See note 33 (iv) See note 31 LISBON, 25 FEBRUARY 2026 THE CERTIFIED ACCOUNTANT THE MANAGEMENT THE EXECUTIVE BOARD OF DIRECTORS N . º 1 7 , 7 1 3 The following notes form an integral part of these financial statements EDP Integrated Annual Report 2025 Financial Statements and Notes Index 303
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Consolidated and Company Statements of Cash Flows for the period ended at 31 December 2025 Group Company Thousand Euros Notes 2025 2024 2025 2024 Operating activities Profit before income tax and CESE 1,966,803 1,379,493 783,910 778,973 Adjustments for: Amortisation and impairment 12 2,016,473 2,372,544 46,816 44,399 Provisions 36 11,836 166,574 383 -2,673 Joint ventures and associates -104,898 55,916 — — Financial (income)/expenses 13 1,032,611 882,490 -793,561 -796,731 (Gains) / losses on disposal and scope effects except Asset Rotations -54,548 -21,063 — — Changes in working capital: Trade and other receivables 453,690 -125,691 -225,221 25,312 Trade and other payables -142,981 3,948 20,133 -92,582 Personnel -31,498 -110,417 7,984 4,202 Regulatory assets -769,919 446,040 — — Other changes in assets/liabilities related with operating activities -903,845 -228,635 -58,211 365,396 Income tax and CESE -108,884 -376,108 106,331 206,470 Net cash flows from operations 3,364,840 4,445,091 -111,436 532,766 Net (gains) / losses with Asset Rotations -96,369 -247,207 — — Net cash flows from operating activities 3,268,471 4,197,884 -111,436 532,766 Investing activities Cash receipts relating to: Sale of business/assets/subsidiaries with loss of control i) 581,699 920,214 — — Other financial assets and investments ii) 308,785 183,504 — 93,371 Other financial assets at amortised cost — — 82,787 259,078 Changes in cash resulting from consolidation perimeter variations 6,694 257 — — Property, plant and equipment and intangible assets 152,149 26,755 465 6,361 Other receipts relating to tangible fixed assets 103,903 188,157 — — Interest and similar income 185,366 144,017 231,506 222,395 Dividends 69,708 129,409 921,397 773,310 Loans to related parties 677,616 793,614 1,502,303 1,353,333 2,085,920 2,385,927 2,738,458 2,707,848 Cash payments relating to: Acquisition of assets/subsidiaries -10,949 -490,903 — — Other financial assets and investments iii) -155,220 -199,995 -67,062 -19,929 Changes in cash resulting from consolidation perimeter variations -27,655 -20,499 — — Property, plant and equipment and intangible assets -4,272,735 -5,508,490 -46,645 -54,810 Loans to related parties -477,682 -509,544 -1,869,935 -2,176,944 -4,944,241 -6,729,431 -1,983,642 -2,251,683 Net cash flows from investing activities -2,858,321 -4,343,504 754,816 456,165 Financing activities Receipts relating to financial debt (include Collateral Deposits) 51 5,078,504 5,574,914 2,250,000 1,890,000 (Payments) relating to financial debt (include Collateral Deposits) 51 -4,744,658 -3,823,821 -2,090,467 -2,168,867 Interest and similar costs of financial debt including hedge derivatives 51 -913,754 -834,982 -353,726 -317,338 Receipts/(payments) relating to loans from non-controlling interests 51 -11,066 18,927 — — Interest and similar costs relating to loans from non-controlling interests 51 -10,411 -19,258 — — Receipts/(payments) relating to loans from related parties 51 — — 648,579 988,936 Interest and similar costs of loans from related parties including hedge derivatives 51 — — -86,474 -103,443 Share capital increases/(decreases) (includes subscribed by non-control. interests) -80,312 -68,064 — — Receipts/(payments) relating to derivative financial instruments 51 143,878 -111,934 3,650 4,015 Dividends paid to equity holders of EDP -826,502 -811,704 -826,502 -811,704 Dividends paid to non-controlling interests -73,806 -89,336 — — Treasury stock sold/(purchased) -99,965 — -99,965 — Receipts/(payments) related with transactions with non-controlling interest without change of control iv) 749,788 — — — Intermediation of electricity system flows financing 39, 51 195,789 — — — Lease (payments) v) 51 -137,546 -130,596 -12,289 -13,185 Receipts/(payments) from institutional partnerships in North America vi) 51 611,821 828,577 — — Net cash flows from financing activities -118,240 532,723 -567,194 -531,586 Changes in cash and cash equivalents 291,910 387,103 76,186 457,345 Effect of exchange rate fluctuations on cash held 11,961 -120,736 -3,913 177 Cash and cash equivalents reclassified as held for sale -5,223 -7,515 — — Cash and cash equivalents at the beginning of the period 3,631,284 3,372,432 1,443,827 986,305 Cash and cash equivalents at the end of the period vii) 3,929,932 3,631,284 1,516,100 1,443,827 (i) Relates to the receipts from the sale of the stake in EDP Transmissão Aliança SC, S.A., and of renewable portfolios in Europe (see note 6); (ii) Corresponds to the receipts related to the disposal of companies in Brazil (see note 6), as well as the proceeds from the sale of Hydro Global ( see note 27). (iii) Relates, essentially, to the capital increase in OW Offshore S.L. (see note 21), and payments made within the scope of transactions from previous years; (iv) Corresponds to the receivables related to the sale of minority stakes in North America (see note 6); (v) Includes capital and interest; (vi) On a consolidated basis, refers to the receipts and payments net of transaction costs (transactions included in note 37); (vii) See details of Cash and cash equivalents in note 29. LISBON, 25 FEBRUARY 2026 THE CERTIFIED ACCOUNTANT THE MANAGEMENT THE EXECUTIVE BOARD OF DIRECTORS N . º 1 7 , 7 1 3 The following notes form an integral part of these condensed financial statements EDP Integrated Annual Report 2025 Financial Statements and Notes Index 304
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Company Income Statements for the period ended at 31 December 2025 Thousand Euros Notes 2025 2024 Revenues from energy sales and services and other 7 326,830 297,500 Cost of energy sales and other 7 — -23 326,830 297,477 Other income 34,372 26,563 Supplies and services 9 -226,902 -207,173 Personnel costs and employee benefits 10 -89,358 -87,344 Other expenses -7,336 -5,534 Impairment losses on trade receivables and debtors -58 -21 -289,282 -273,509 37,548 23,968 Provisions -383 2,673 Depreciation, amortisation and impairment 12 -46,816 -44,399 -9,651 -17,758 Financial income 13 1,575,677 1,707,855 Financial expenses 13 -782,116 -911,124 Profit before income tax 783,910 778,973 Income tax expense 14 53,999 38,426 Net profit for the period 837,909 817,399 Earnings per share (Basic and Diluted) - Euros 31 0.20 0.20 LISBON, 25 FEBRUARY 2026 THE CERTIFIED ACCOUNTANT THE MANAGEMENT THE EXECUTIVE BOARD OF DIRECTORS N . º 1 7 , 7 1 3 The following notes form an integral part of these financial statements EDP Integrated Annual Report 2025 Financial Statements and Notes Index 305
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Company Statements of Comprehensive Income for the period ended at 31 December 2025 Thousand Euros 2025 2024 Net profit for the period 837,909 817,399 Items that will never be reclassified to profit or loss (i) Actuarial gains/(losses) 533 1,093 Tax effect from the actuarial gains/(losses) -41 -211 492 882 Items that may be reclassified to profit or loss (i) Fair value reserve (cash flow hedge) (ii) 6,199 -7,022 Tax effect from the fair value reserve (cash flow hedge) (ii) -549 1,645 5,650 -5,377 Other comprehensive income for the period (net of income tax) 6,142 -4,495 Total comprehensive income for the period 844,051 812,904 (i) See Company Statements of Changes in Equity (ii) See note 32 LISBON, 25 FEBRUARY 2026 THE CERTIFIED ACCOUNTANT THE MANAGEMENT THE EXECUTIVE BOARD OF DIRECTORS N . º 1 7 , 7 1 3 The following notes form an integral part of these financial statements EDP Integrated Annual Report 2025 Financial Statements and Notes Index 306
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Company Statements of Financial Position as at 31 December 2025 Thousand Euros Notes 2025 2024 Assets Property, plant and equipment 16 36,684 39,598 Right-of-use assets 17 91,862 94,739 Intangible assets 18 169,000 158,587 Investments in subsidiaries 20 17,024,457 16,916,571 Equity instruments at fair value 1,227 1,249 Investment property 23 127,252 156,192 Deferred tax assets 24 — 45,769 Debtors and other assets from commercial activities 1,584 1,516 Other debtors and other assets 27 4,648,001 4,299,841 Total Non-Current Assets 22,100,067 21,714,062 Debtors and other assets from commercial activities 26 413,045 174,166 Other debtors and other assets 27 780,072 791,176 Current tax assets 28 37,999 60,059 Cash and cash equivalents 29 1,516,100 1,443,827 Total Current Assets 2,747,216 2,469,228 Total Assets 24,847,283 24,183,290 Equity Share capital 30 4,184,022 4,184,022 Treasury stock 31 -156,588 -63,033 Share premium 30 1,970,996 1,970,996 Reserves and retained earnings 32 3,013,825 3,015,429 Net profit for the period 837,909 817,399 Total Equity 9,850,164 9,924,813 Liabilities Financial debt 34 9,047,961 8,595,384 Employee benefits 4,264 3,715 Provisions 3,834 3,859 Deferred tax liabilities 24 2,317 — Trade payables and other liabilities from commercial activities 20 20 Other liabilities and other payables 39 1,606,553 1,530,442 Total Non-Current Liabilities 10,664,949 10,133,420 Financial debt 34 3,351,609 2,998,761 Employee benefits 492 1,363 Provisions 894 486 Trade payables and other liabilities from commercial activities 38 231,557 206,242 Other liabilities and other payables 39 617,533 912,685 Current tax liabilities 40 130,085 5,520 Total Current Liabilities 4,332,170 4,125,057 Total Liabilities 14,997,119 14,258,477 Total Equity and Liabilities 24,847,283 24,183,290 LISBON, 25 FEBRUARY 2026 THE CERTIFIED ACCOUNTANT THE MANAGEMENT THE EXECUTIVE BOARD OF DIRECTORS N . º 1 7 , 7 1 3 The following notes form an integral part of these financial statements EDP Integrated Annual Report 2025 Financial Statements and Notes Index 307
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Company Statements of Changes in Equity for the period ended at 31 December 2025 Reserves and retained earnings (ii) Thousand Euros Total Equity Share capital (i) Share premium (i) Legal reserve Other reserves and retained earnings Fair value reserve (cash flow hedge) Treasury stock (iii) Balance as at 31 December 2023 9,915,630 4,184,022 1,970,996 835,564 2,975,852 18,803 -69,607 Comprehensive income: Net profit for the period 817,399 — — — 817,399 — — Changes in the fair value reserve (cash flow hedge) net of taxes -5,377 — — — — -5,377 — Actuarial gains/(losses) net of taxes 882 — — — 882 — — Total comprehensive income for the period 812,904 — — — 818,281 -5,377 — Transfer to legal reserve — — — 1,240 -1,240 — — Dividends paid -811,704 — — — -811,704 — — Share-based payments 7,983 — — — 1,409 — 6,574 Balance as at 31 December 2024 9,924,813 4,184,022 1,970,996 836,804 2,982,598 13,426 -63,033 Comprehensive income: Net profit for the period 837,909 — — — 837,909 — — Changes in the fair value reserve (cash flow hedge) net of taxes 5,650 — — — — 5,650 — Actuarial gains/(losses) net of taxes 492 — — — 492 — — Total comprehensive income for the period 844,051 — — — 838,401 5,650 — Dividends paid -826,502 — — — -826,502 — — Purchase and sale of treasury stock -99,965 — — — — — -99,965 Share-based payments 7,767 — — — 1,357 — 6,410 Balance as at 31 December 2025 9,850,164 4,184,022 1,970,996 836,804 2,995,854 19,076 -156,588 (i) See note 30 (ii) See note 32 (iii) See note 31 LISBON, 25 FEBRUARY 2026 THE CERTIFIED ACCOUNTANT THE MANAGEMENT THE EXECUTIVE BOARD OF DIRECTORS N . º 1 7 , 7 1 3 The following notes form an integral part of these financial statements EDP Integrated Annual Report 2025 Financial Statements and Notes Index 308
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Notes to the Consolidated and Company Financial Statements 1. Economic activity of EDP Group 310 2. Material accounting policies 310 3. Recent accounting standards and interpretations issued 325 4. Critical accounting estimates and judgements in preparing the financial statements 325 5. Financial risk management policies 335 6. Consolidation perimeter 342 7. Revenues and cost of Energy Sales and Services and Other 346 8. Other income 348 9. Supplies and services 348 10. Personnel costs and employee benefits 349 11. Other costs 349 12. Depreciation, amortisation and impairment 350 13. Financial income and expenses 351 14. Income tax 352 15. Extraordinary contribution to the energy sector (CESE) 355 16. Property, plant and equipment 356 17. Right-of-use assets 358 18. Intangible assets 359 19. Goodwill 360 20. Investments in subsidiaries (Company basis) 362 21. Investments in joint ventures and associates 363 22. Equity instruments at fair value 368 23. Investment property 369 24. Deferred tax assets and liabilities 370 25. Inventories 374 26. Debtors and other assets from commercial activities 375 27. Other debtors and other assets 378 28. Tax assets 379 29. Cash and cash equivalents 379 30. Share capital and share premium 379 31. Treasury stock 381 32. Reserves and retained earnings 382 33. Non-controlling interests 384 34. Financial debt 385 35. Employee benefits 391 36. Provisions 399 37. Institutional partnerships in North America 403 38. Trade payables and other liabilities from commercial activities 404 39. Other liabilities and other payables 406 40. Tax liabilities 407 41. Non-Current assets and liabilities held for sale 408 42. Derivative financial instruments 409 43. Commitments 418 44. Related parties 420 45. Fair value of financial assets and liabilities 429 46. Relevant or subsequent events 431 47. EDP Branch in Spain 432 48. Environmental matters 433 49. CAE/CMEC/DPH Procedure 435 50. Operating Segments 436 51. Reconciliation of Changes in the responsibilities of Financing activities 443 52. Explanation Added for Translation 446 Annex I. Companies in the Consolidation Perimeter 447 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 309
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1. Economic activity of EDP Group EDP, S.A. (hereinafter referred to as EDP), currently with head office in Lisbon, Avenida 24 de Julho 12 and with its shares listed on the Euronext Lisbon stock exchange, results from the transformation of Electricidade de Portugal, E.P., incorporated in 1976 following the nationalization and consequent merger of the main companies in the electricity sector in Portugal. During 1994, as established by Decreelaws 7/91 and 131/94, the EDP Group (EDP Group or Group) was set up following the split of EDP, which led to a number of directly or indirectly wholly owned subsidiaries of EDP. The Group’s businesses are currently focused on the generation, transmission, distribution and supply of electricity and supply of gas. Additionally, the Group also operates in related areas such as engineering, laboratory tests, professional training and energy services. EDP Group operates essentially in the European (Portugal, Spain, France, Poland, Romania, Italy, Belgium, United Kingdom, Greece, Germany and Netherlands), American (Brazil and North America) and Southeast Asia energy sectors. 2. Material accounting policies A) Basis of presentation The accompanying consolidated and company financial statements of EDP, S.A. reflect the results of the company's operations and its subsidiaries (EDP Group or Group) and the Group's interest in its joint ventures and associated companies, for the period ended on 31 December 2025 and EDP S.A.'s Executive Board of Directors approved them on 25 February 2026. The financial statements are presented in thousand Euros, rounded to the nearest thousand. In accordance with Regulation (EC) 1606/2002 of the European Council and Parliament, of 19 July 2002, as transposed into Portuguese legislation through Decree-law 35/2005 of 17 February 2005, with changes updated by the Decree-law 158/2009 of 13 July and Decree-law 98/2015 of 2 June, the company's financial statements and the Group's consolidated financial statements are prepared in accordance with IFRS Accounting Standards (IFRS), as endorsed by the European Union (E.U). IFRS comprise accounting standards issued by the International Accounting Standards Board (IASB) as well as interpretations issued by the International Financial Reporting Interpretations Committee (IFRIC) and their predecessor bodies. The EDP Group's consolidated and company financial statements for the period ended 31 December 2025 were prepared in accordance with IFRS as adopted by the E.U. and effective from 1 January 2025. The accounting policies described in this note have been applied consistently by all the Group companies and in all periods presented in the consolidated and company financial statements. The new standards and interpretations recently issued but not yet effective, which the Group has not yet applied in its consolidated financial statements, are detailed in note 3. The financial statements have been prepared on a going concern basis and under the historical cost convention, modified by the application of the fair value accounting to derivative financial instruments, financial assets at fair value through profit or loss and financial assets at fair value through other comprehensive income. Assets and liabilities that are hedged under hedge accounting are stated at fair value in respect of the hedged risk. Non-current assets and disposal groups held for sale are stated at the lower of carrying amount and fair value less costs to sell. Liabilities for defined benefit plans are recognised at the present value of the obligation net of plan assets fair value. The preparation of financial statements in accordance with IFRS requires the Board of Directors to make significant judgments, estimates and assumptions that affect the application of the accounting policies and of the reported amounts of assets, liabilities, income and expenses. The estimates and related assumptions are based on historical experience and other factors considered reasonable in accordance with the circumstances. These management assumptions form the basis for assessing the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates. Accordingly, the areas involving the highest degree of judgment or complexity, or for which the assumptions and estimates are considered significant, are disclosed in note 4 - Critical accounting estimates and judgments in preparing the financial statements. B) Basis of consolidation The accompanying consolidated financial statements reflect the assets, liabilities and results of EDP, S.A. and its subsidiaries (Group or EDP Group) and the equity and results attributable to the Group, through the investments in associates and jointly controlled entities. Accumulated losses in entities where the Group exercises control are attributed to non-controlling interests in the corresponding proportions held, even when this results in a negative balance of non- controlling interests. On a step acquisition process resulting in the acquisition of control the revaluation of any interest previously held is booked against the income statement when goodwill is calculated. On a partial disposal resulting in loss of control over a subsidiary, any participation retained is revalued at market value on the sale date. The gain or loss arising both from this revaluation and from the disposal itself is recognised in the income statement. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 310
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The consolidated financial statements include the Group's attributable share of total reserves and profits or losses of entities where the Group exercises joint control with other partners (joint ventures) and entities where the Group exercises significant influence (associates), included under the equity method. When the Group’s share of losses exceeds its interest in a joint venture, its carrying amount is reduced to zero and recognition of further losses is discontinued, except to the extent that the Group has a legal or contractual obligation to cover such losses on behalf of that entity. Investments in subsidiaries, joint ventures and associates (company level) At a company level, investments in subsidiaries, joint ventures and associates not classified as held for sale or not included in a disposal group which is classified as held for sale are accounted for at cost in the company's financial statements, and are subject to periodic impairment tests, whenever indication exists that certain financial investment may be impaired. Business combinations Business combinations are accounted for using the acquisition method as at the acquisition date, which is the date on which control is transferred to the Group. Control is the power to govern the financial and operating policies of an entity, obtaining benefits and being exposed to the risks from its activities. In assessing control, the Group takes into consideration potential voting rights that are currently exercisable. The consideration transferred does not include amounts related to the settlement of pre-existing relationships. Such amounts are recognised directly in the consolidated income statement. Costs directly attributable to the acquisition of a business, other than those associated with the issue of debt or equity securities, are booked directly in the consolidated income statement. Any contingent consideration payable is recognised at fair value at the acquisition date. If the contingent consideration is classified as equity, it is not remeasured and settlement is accounted for within equity. Otherwise, subsequent changes to the fair value of the contingent consideration are recognised in the consolidated income statement. If the initial purchase price allocation of assets and liabilities acquired is identified as provisional, in the 12 months following the business combination transaction, the legal acquirer should make the final allocation of the purchase price related to the fair value of the assets and liabilities acquired. These adjustments with impact on the amount of goodwill determined and booked in previous periods, originate a restatement of the comparative information, which is reflected on the statement of financial position, with effect from the date of the business combination transaction. The entire positive goodwill resulting from acquisitions is recognised as an asset at acquisition date and is not subject to amortisation. Negative goodwill arising on an acquisition is recognised directly in the consolidated income statement in the period when the business combination occurs. The recoverable amount of the goodwill is assessed annually, regardless of the existence of any impairment triggers. Impairment losses are recognised in the consolidated income statement. Goodwill is not adjustable due to changes in the initial estimate of the contingent considerations and the difference is recognised in the consolidated income statement. The EDP Group recognises the non-controlling interests at fair value, including the portion of goodwill attributable to the non-controlling interests. Business combinations achieved in stages In a business combination achieved in stages, on the date of obtaining control, the excess of the aggregate of (i) the consideration transferred; (ii) the amount of any non-controlling interest recognised in the acquiree; and (iii) the fair value of the previously held equity interest in the acquired business; over the net of amounts of the identifiable assets acquired and liabilities assumed, is recognised as goodwill. On the other hand, if the difference is negative, after evaluating the consideration transferred, of the amount of any non-controlling interest recognised in the acquiree and the fair value of the previously held equity interest in the acquired business, over the net value of the identifiable assets acquired and liabilities assumed, it is recognised in the income statement in the caption Other income. Additionally, the Group reclassifies the deferred amounts in other comprehensive income relating to the previously held equity interest to the income statement or consolidated reserves, according to their nature. Purchases of non-controlling interests and dilution In acquisitions (or dilutions not resulting in a loss of control) of non-controlling interests, the difference between the fair value of the non-controlling interests acquired and the consideration paid (or receivd), is accounted against reserves. The acquisition of non-controlling interests through written put options related to investments in subsidiaries held by non-controlling interests is recorded as a liability for the fair value of the amount payable, with a corresponding reduction in non-controlling interests. The fair value of the liability is determined based on the contractual price which may be fixed or variable. In the case of a variable price, changes in the liability are recognised in the consolidated income statement as well as the effect of the financial discount (unwinding) of the liability. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 311
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Put options related to non-controlling interests EDP records written put options, at the date of a business combination or at a subsequent date, as an advance acquisition of non-controlling interests. A financial liability is recognised for the present value of the best estimate of the amount payable, irrespective of the estimated probability of exercise of the option. The difference between this amount and the portion corresponding to the percentage of the interest held in the identifiable net assets acquired is recognised as goodwill. Subsequent changes in the carrying amount of the put liability are recognised in profit or loss. Acquisition of assets out of the scope of IFRS 3 In order to assess whether an acquisition of an asset or a group of assets is a business, EDP identifies the elements in the acquired entity (inputs, processes and outputs), assesses the capability to create outputs (it should have at a minimum, an input and a substantive process to be assessed as a business) and, finally evaluates whether market participants would be able to continue to create outputs (conducting the activities as a business). In the case of an integrated set of activities that is in an early-stage of development and has not started to generate outputs, EDP considers other factors to determine whether it constitutes a business, such as if: (i) planned principal activities have begun; (ii) employees, intellectual property, and other inputs and processes are present; (iii) a plan to produce outputs is being pursued; and/or (iv) access to customers who will purchase the outputs can be obtained. Generally, an early-stage entity that has employees capable of developing an output is considered a business. Accordingly, EDP concludes that IFRS 3 is not applicable when there are no outputs at the acquisition date due to an early-stage of development, and the acquired process(es) cannot be considered substantive. In such circumstances, the acquisition of an asset or a group of assets that does not fulfil the conditions to be considered a business is classified as an acquisition of a company out of scope of IFRS 3. Investments in foreign subsidiaries, joint ventures and associates The financial statements of the foreign subsidiaries, joint ventures and associates of the Group are prepared using their functional currency, defined as the currency of the primary economic environment in which they operate. In the consolidation process, the assets and liabilities of foreign subsidiaries are translated into Euros at the closing exchange rate at the reporting date. Regarding the investments in foreign operations that are consolidated using the full consolidation method and equity method, the exchange differences between the amount of equity expressed in Euros at the beginning of the period and the amount translated at the official exchange rates at the end of the period, on a consolidated basis, are booked against reserves. Foreign currency goodwill arising on the acquisition of these investments is remeasured at the official exchange rate at the reporting date directly against reserves. The income and expenses of foreign subsidiaries are translated into Euros at the approximate exchange rates at the dates of the transactions. Exchange differences from the translation into Euros of the net profit for the period, arising from the differences between the rates used in the income statement and those prevailing at the reporting date are recognised in reserves. On disposal of a foreign subsidiary, the related exchange differences previously recognised in reserves are reclassified to the income statement. Balances and transactions eliminated on consolidation Inter-company balances and transactions, including any unrealised gains and losses on transactions between Group companies, are eliminated in preparing the consolidated financial statements. Unrealised gains and losses arising on transactions with joint ventures and associates are eliminated to the extent of the Group's interest in those entities. C) Foreign currency transactions Foreign currency transactions are translated at the exchange rates prevailing at the dates of the transactions. Monetary assets and liabilities denominated in foreign currency are translated into Euros at the exchange rates at the reporting date. These exchange differences arising on translation are recognised in the income statement as financial results. Foreign currency non-monetary assets and liabilities accounted for at historical cost are translated using the exchange rates at the dates of the transactions. Foreign currency non-monetary assets and liabilities stated at fair value are translated into Euros at the exchange rates at the dates on which the fair value was determined. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 312
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D) Derivative financial instruments and hedge accounting Derivative financial instruments are recognised on the trade date at fair value. Subsequently, the fair value of derivative financial instruments is remeasured on a regular basis, and the gains or losses on remeasurement are recognised directly in the income statement, except for derivatives designated as cash flow or net investment hedging instruments. Recognition, in the income statement, of the resulting gains and losses on remeasurement of hedging derivatives depends on the hedge model used. The fair value of derivative financial instruments corresponds to their market value, if available, or to quotes provided by external entities through the use of valuation techniques accepted by the market, which are compared at each reporting date to fair values available in commonly used financial information platforms, namely Bloomberg and Reuters. Hedge accounting The Group uses financial instruments to hedge interest rate risk, exchange rate risk and price risk resulting from its operational and financing activities. Derivatives not qualified for hedge accounting under IFRS 9 are accounted for as trading instruments. Hedging derivatives are recorded at fair value with gains and losses recognised in accordance with the hedge accounting model applied by the Group. Fair value hedge Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recorded in the income statement, together with any changes in the fair value of the hedged assets and liabilities or group of hedged assets and liabilities that are attributable to the hedged risk. For cross currency interest rate swaps, the currency basis spread is excluded from the hedge designation, but is considered as a hedging cost in other comprehensive income, in the cost of hedging reserve. When the hedging relationship ceases to comply with the requirements for hedge accounting, the accumulated gains or losses concerning the fair value of the risk being hedged are amortised over the residual period to maturity of the hedged item. Cash flow hedge Changes in the fair value of derivatives qualified as cash flow hedges are recognised in reserves. The cumulative gains or losses recognised in reserves are reclassified to the income statement when the hedged item affects the income statement. When a hedging relation of a future transaction is discontinued, if the transaction is still expected to take place, the changes in the fair value of derivative recognised in reserves remain recognised in reserves until the future hedged transaction occurs. When the future transaction is no longer expected to occur, the cumulative gains or losses recognised in reserves are recorded immediately in the income statement. Net investment hedge The net investment hedge model is applied on a consolidated basis to investments in subsidiaries in foreign currencies. This model allows that the exchange differences recognised in the currency translation reserve to be offset by the foreign exchange differences in foreign currency loans or currency derivatives contracted, recognised in Currency translation reserve - Net investment hedge. For cross currency interest rate swaps, the cross currency basis spread and forward points are not designated into the hedge relationship, but deferred as a hedging cost in other comprehensive income, in Currency translation reserve - Net investment hedge - Cost of hedging, and recognised in profit or loss over the period of the hedge. The ineffective portion of the hedging relationship is recognised in the income statement. The accumulated foreign exchange gains and losses regarding the net investment and the related hedging instrument recognised in equity are transferred to the income statement when the foreign currency subsidiary is sold, as part of the gain or loss resulting from the disposal. Effectiveness The Group performs prospective effectiveness tests at the inception date and at each reporting date, in order to demonstrate that the hedging relationship meets the hedge effectiveness requirements, showing that any adjustments to the fair value of the hedged item attributable to the risk being hedged are offset by adjustments to the fair value of the hedging instrument. Any ineffectiveness is recognised in the income statement in the period in which it arises. E) Debtors and other assets Financial assets EDP Group classifies its financial assets, at the initial recognition, based on the business model for managing the financial assets ("business model test") and their contractual cash flow characteristics ("SPPI test"). EDP Integrated Annual Report 2025 Financial Statements and Notes Index 313
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Financial assets are not reclassified subsequent to their initial recognition. However, if the Company changes its business model for managing financial assets, it will classify newly originated or newly purchased financial assets under the new business model, but will keep the classification of existing assets under the previous business model. Purchases and sales of financial assets are recognised on the trade date, which is the date on which the Group commits to purchase or sell these financial assets. Financial assets are derecognised when: (i) the Group contractual rights to receive their future cash flows have expired, (ii) the Group has transferred substantially the risks and rewards of ownership, or (iii) although retaining some, but not substantially all the risks and rewards of ownership, the Group has transferred control over the assets. If a factoring transaction results in the transfer of substantially all risks (namely credit risk and default risk) and benefits associated with the assets, the Group proceeds to derecognise the transferred financial assets and recognises the difference between the carrying amount and the amount received in the income statement (non-recourse factoring). Financial assets at amortised cost Financial assets included within this category are initially recognised at fair value and subsequently measured at amortised cost. Any gain or loss arising on derecognition is recognised directly in profit or loss and presented in other gains/(losses) together with foreign exchange gains and losses. Impairment losses are presented as separate line item in the statement of profit or loss. Loans and trade receivables are generally held to collect contractual cash flows and are expected to give rise to cash flows representing solely payments of principal and interest. Accordingly, they meet the criteria for amortised cost measurement. Financial assets measured at fair value through other comprehensive income (FVOCI) Financial assets included within this category are initially recognised and subsequently measured at fair value, with the changes in the carrying amount booked in other comprehensive income, except for the recognition of impairment gains or losses, interest revenue and foreign exchange gains and losses, which are recognised in profit and loss. When the financial asset is derecognised, the cumulative gain or loss previously recognised in other comprehensive income is reclassified to profit or loss. Financial assets measured at fair value through profit or loss (FVTPL) Financial assets that do not meet the criteria to be classified under the previously referred categories, are classified at fair value through profit or loss. Regardless of the business model assessment, EDP Group may irrevocably elect, at initial recognition, to designate a financial asset at fair value through profit or loss if doing so reduces or eliminates a measurement or recognition inconsistency (“accounting mismatch”). Impairment losses EDP Group recognises an impairment loss based on the Expected Credit Loss (ECL) model, prior to the occurrence of an objective evidence of a loss event. This model is the basis for the recognition of impairment losses on held financial assets that are measured at amortised cost or at fair value through other comprehensive income (which includes cash and cash equivalents, trade receivables, loans and debt securities). The impairment methodology applied depends on whether there has been a significant increase in credit risk since initial recognition. If the credit risk on a financial asset has not increased significantly since its initial recognition, EDP Group measures the loss allowance for that financial asset at an amount equal to 12-month expected credit losses. If the credit risk increases significantly since its initial recognition, EDP Group measures the loss allowance for that financial asset at an amount equal to lifetime expected credit losses. Regardless of the above, a significant increase in credit risk is presumed if there is an objective evidence that the financial asset is impaired, including if there is observable data that comes to the attention of the holder of the asset about the following loss events, among others: significant financial difficulty of the issuer or obligor; restructuring of an amount due to the Group in terms that it would not consider otherwise; a breach of contract, such as a default or delinquency in interest or principal payments; or it becoming probable that the borrower will enter bankruptcy or other financial reorganisation. As soon as the loss event occurs, the impairment allowance would be allocated directly to financial asset affected, that is, the asset’s carrying amount is reduced and the losses are recognised in profit or loss. If, in a subsequent period, the amount of the impairment loss decreases, the previously recognised impairment losses are reversed in profit or loss, if the decrease can be related objectively to an event occurring after the impairment loss was recognised. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 314
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Trade receivables and contract assets EDP Group applies the simplified approach and recognises lifetime expected credit losses on all trade receivables and contract assets, including those with a significant financing component. The expected credit losses are calculated based on actual credit loss experience over a period that, per business and type of customers, is considered statistically relevant and representative of the specific characteristics of the underlying credit risk. When applicable, EDP Group estimated the ECL rates separately for corporates and individuals. Considering the particularities of each business, exposures are segmented based on common credit risk characteristics such as credit risk grade, geographic region and/or industry - for corporates; and type of product purchased - for individuals, as applicable. Actual credit loss experience is adjusted by scalar factors to reflect differences between economic conditions during the period over which historical data was collect, current conditions and EDP Group's view of economic conditions over the expected lives of the receivables. Other receivables For other receivables related to regulatory assets, loans, financial entities and state carried at amortised cost and FVOCI, EDP Group performs an analysis based on the general impairment approach. In performing this assessment, the Group makes assumptions regarding the risk of default and expected loss rates, which requires judgement. The inputs used for risk assessment and for calculation of the loss allowances for financial assets includes: (i) credit ratings (as far as available) from external credit rating companies such as Standard and Poors, Moody’s and Fitch; (ii) significant changes in the expected performance and behavior of the borrower, including changes in the payment status of borrowers in the Group and changes in the operating results of the borrower; (iii) public market data, namely on probabilities of default and loss given default expectations; and (iv) macroeconomic information (such as market interest rates or growth rates). Leases – Lessor perspective At the commencement date, EDP Group, as a lessor, classifies each of its lease as either an operating lease or a finance lease. A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership of an underlying asset. Otherwise, the lease is classified as an operating lease. Accordingly, at the commencement date, the Group recognises: i. assets held under a finance lease in its statement of financial position and present them as a receivable at an amount equal to the net investment in the lease. ii. l e a s e p a y m e n t s f r o m o p e r a t i n g l e a s e s a s i n c o m e o n e i t h e r a s t r a i g h t - l i n e b a s i s o r a n o t h e r systematic basis (if that basis is more representative of the pattern in which benefit from the use of the underlying asset is diminished). The assets subject to operating leases are presented in its statement of financial position according to the nature of the underlying asset. F) Trade payables and other liabilities Financial liabilities The Group recognises financial liabilities at the issuance date (trade date): (i) initially at fair value, net of transaction costs; and (ii) subsequently at amortised cost, using the effective interest method. All financial liabilities are measured at amortised cost, with the exception of financial liabilities designated in a fair value hedge relationship, which are stated at fair value in respect of the risk component that is being hedged. Financing arrangements whose contractual terms provide for adjustments to the interest rate or other components of the cost of funding depending on the achievement of specified sustainability performance indicators (ESG), such as environmental, social or governance metrics (“Sustainability- linked financing”), are initially recognised at fair value, net of directly attributable transaction costs, and subsequently measured at amortised cost. Due to the immaterial impact, this effect is not included in the calculation of the effective interest rate with any adjustment to the interest rate being recognised as an expense in the period in which it is incurred. EDP Group derecognises a financial liability (or a part of a financial liability) from its statement of financial position when, and only when, the obligation specified in the contract is discharged, cancelled or expired. An exchange between an existing borrower and lender of debt instruments with substantially different terms is accounted for as an extinguishment of the original financial liability and the recognition of a new financial liability. Similarly, a substantial modification of the terms of an existing financial liability, or a part of it, is accounted for as an extinguishment of the original financial liability and the recognition of a new financial liability. The difference between the carrying amount of a financial liability (or part of a financial liability) extinguished or transferred to another party and the consideration paid, including any non-cash assets transferred or liabilities assumed, is recognised in profit or loss. Subordinated hybrid bond loans issued by the EDP Group are classified as financial liabilities. Upon initial recognition, the instrument is measured at fair value, net of transaction costs directly attributable to the issuance. Whenever the issuance involves additional upfront payments or adjustments to the issue price that form part of the instrument’s effective interest rate, such amounts are deferred and recognised over the period up to the first contractual call option date or interest rate reset date (“first EDP Integrated Annual Report 2025 Financial Statements and Notes Index 315
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call” or “reset date”), reflecting the relevant economic period of the instrument’s initial terms and conditions. In the context of debt repurchase or early liability management transactions, the Group derecognises the financial liability when the related contractual obligations are extinguished. In such cases, the carrying amount of the repurchased liability is derecognised, including the corresponding proportion of transaction costs previously deferred. Lease liabilities Lease liabilities on the commencement date are measured by the Group based on the present value of the future payments of that lease contracts, discounted using EDP Group's incremental borrowing rate for each portfolio of leases identified. The variable lease payments that do not depend of an index or a rate are not included in the measurement of the lease liabilities, nor the right-of-use asset being recognised as cost in the period when they occur. EDP Group determines the lease term as the non-cancelable period of a lease, together with both: (i) periods covered by an option to extend the lease, if the lessee is reasonably certain to exercise that option; and (ii) periods covered by an option to terminate the lease, if the lessee is reasonably certain not to exercise that option. EDP Group applies the recognition exemption provided by IFRS 16 for the leases which lease term is 12 months or less, or that are for a low-value asset. After the commencement date, the lease liabilities are increased to reflect interest on the liability and reduced to reflect the lease payments made. EDP Group remeasures lease liabilities, with a corresponding adjustment to the right-of-use assets, by discounting the revised lease payments using an unchanged discount rate, when either: i) there is a change in future lease payments resulting from a change in an index or a rate used to determine those payments; or ii) there is a change in the amounts expected to be payable under a residual value guarantee. If a lease modification does not qualify to be accounted as a separate lease, EDP Group remeasures the lease liabilities and adjusts the corresponding right-of-use assets, by discounting the revised lease payments, using a revised discount rate at the effective date of the modification. G) Equity instruments Equity instruments issued Costs directly attributable to the issuance of equity instruments are recognised in equity, as a deduction to the amount issued. Amounts paid or received relating to sales or acquisitions of equity instruments are recognised in equity, net of transaction costs. Distributions related to equity instruments are deducted from equity, as dividends, when they are declared. Preference shares issued by the Group are considered as an equity instrument when there is no contractual obligation to redeem the shares and dividends are paid at the discretion of the Group. Preference shares issued by subsidiaries, classified as equity instruments and held by third parties, are recognised as non-controlling interests. Equity instruments held EDP Group classifies the equity instruments that are held for trading at fair value to profit or loss. For all other equity instruments, management has the ability to make an irrevocable election on initial recognition, on an instrument-by- instrument basis, to present changes in fair value in other comprehensive income. If this election is made, all fair value changes, excluding dividends that are a return on investment, will be included in other comprehensive income. There is no recycling of amounts from other comprehensive income to profit and loss (for example, on sale of an equity investment), with such amounts being transferred directly to retained earnings. H) Property, plant and equipment Property, plant and equipment is stated at acquisition cost less accumulated depreciation and impairment losses. Subsequent costs are recognised as part of Property, plant and equipment only when it is probable that future economic benefits associated with the item will flow to the Group. Repair and maintenance costs are charged in the income statement during the financial period in which they are incurred. The Group carries out impairment tests whenever events or circumstances may indicate that the carrying amount of an asset exceeds its recoverable amount, at least annually, any resulting impairment is recognised in the income statement. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 316
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Land is not depreciated. Depreciation on the other assets is calculated using the straight-line method, less the residual value, over their estimated useful lives, as follows: Number of years Buildings and other constructions 8 to 50 Plant and machinery: - Hydroelectric generation 30 to 75 - Thermoelectric generation 25 to 45 - Renewable generation 20 to 35 - Electricity distribution and transmission 10 to 40 - Other plant and machinery 4 to 25 Transport equipment 3 to 25 Office equipment and tools 2 to 16 Other property, plant and equipment 3 to 50 The Group reviews the estimate of the useful life of assets whenever there is a change in the expected economic benefits flowing from the assets occurs as well as when the technical use planned for the assets differs from previous estimates. Changes occurring in the depreciation charge for the year are accounted for prospectively. Capitalisation of borrowing costs and other directly attributable costs Borrowing costs that are directly attributable to the acquisition or construction of assets are capitalised as part of the cost of these assets. The amount of interest costs eligible for capitalisation is determined by applying a capitalisation rate to the expenditures on those assets. The capitalisation rate corresponds to the weighted average of the borrowing costs applicable to the outstanding borrowings during the period. The amount of borrowing costs capitalised during a period does not exceed the amount of borrowing costs incurred during the period. The capitalisation of borrowing costs begins when expenditure for the assets is being incurred, borrowing costs have been incurred and activities necessary to prepare all or part of the assets for their intended use or sale are in progress. Capitalisation ceases when substantially all the activities necessary to prepare the qualifying assets for their intended use or sale are completed. Other expenses directly attributable to the acquisition and construction of the assets, such as cost of consumed materials and personnel costs, are also capitalised as part of the cost of the assets. Investment government grants Investment government grants are initially booked as Trade payables and other liabilities from commercial activities - Non-Current only when there is reasonable certainty that the grant will be received and that the Group will fulfil the grant term conditions. Grants that compensate the Group for expenses incurred are booked in the income statement on a linear basis, on the same period in which the expenses are incurred. Grants that compensate the Group for the acquisition of assets are recognised in the income statement over the related assets useful life. Transfers of assets from customers Transfers of assets from customers concession arrangement and out of the scope of IFRIC 12 are related to payments of performance obligations fulfilled over the useful life of the underlying asset. Accordingly, when they are received from the customers, they are booked as liabilities instead of revenue. The assets are recognised by the estimated construction cost and are depreciated over their useful lives. The liabilities are recognised as revenue based on the corresponding useful life of the underlying asset. I) Intangible assets The Group's intangible assets are booked at acquisition cost less accumulated amortisation and impairment losses. The Group performs impairment tests whenever events or circumstances indicate that the carrying amount of the asset exceeds its recoverable amount, with any impairment recognised in the income statement. Acquisition and development of software The costs of purchasing software and the costs incurred by the Group to implement it are capitalised and amortised on a straight-line basis over the expected useful life of the asset. Costs incurred by the Group that are directly attributable to the development of software and that are expected to generate economic benefits beyond one year, are recognised as intangible assets. Such costs include employee costs directly associated with the project and are amortised on a straight-line basis over its estimated useful life. Costs related to Software as a Service (SaaS) contracts and other cloud-based solutions are assessed by the Group on a case-by-case basis to determine whether they confer control over an identifiable EDP Integrated Annual Report 2025 Financial Statements and Notes Index 317
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intangible asset in accordance with IAS 38 or whether they constitute service contracts, in which case they are recognised as an expense for the period over the term of the service. Software maintenance costs are charged to the income statement as incurred. Concession rights on distribution electricity The concession rights on distribution of electricity in Brazil are recorded as intangible assets and amortised on a straight-line basis over the concessions period, not exceeding 30 years. Concession rights to use the public hydric domain Portuguese concession rights to use the public hydric domain are booked as intangible assets and depreciated on a straight-line basis over the concession period, which does not exceed 74 years. EDP Group records as concession rights the financial compensations for the use of public domain assets, whenever these compensations are paid and for all the Group subsidiaries. The accounting policy related to intangible assets assigned to concessions in the scope of IFRIC 12 is described in y). Concession rights on generation of electricity The concession rights on generation of electricity in Brazil are recorded as intangible assets and amortised on a straight-line basis over the concession period. Industrial property and other rights Industrial property and other rights are amortised on a straight-line basis over the estimated useful life of the assets. J) Right-of-use assets EDP Group presents the information related to lease contracts in the caption Right-of-use assets, as a separate line in the Statement of Financial Position. These assets are accounted for at cost less accumulated depreciation and impairment losses. The cost of these assets comprises the initial costs and the initial measurement of the lease liabilities, net of the prepaid amounts and any incentives received. Depreciation of right-of-use assets is calculated on a straight-line basis over their estimated useful lives, considering the lease contract terms. If EDP Group remeasures the lease liabilities (see f)), the corresponding right-of-use assets are adjusted accordingly. K) Investment property The Group classifies as investment property, property held for capital appreciation and/or for rental purposes. Investment property is recognised initially at acquisition or production cost, including directly attributable transaction costs, and is subsequently measured at cost less accumulated depreciation and any impairment losses. Subsequent expenditures on investment property are only added to the cost of the asset when it is probable that additional future economic benefits will arise when compared to initial recognition. Investment property is depreciated on a straight-line basis over the estimated useful life of the assets (between 8 and 50 years). L) Inventories Inventories are measured at the lower of acquisition cost and net realisable value. The cost of inventories includes purchases, conversion and other costs incurred in bringing the inventories to their present location and condition. The net realisable value is the estimated selling price in the ordinary course of business less the estimated selling costs. The cost of inventories is determined using the weighted average cost method. CO2 Licenses held by the Group for trade purposes are booked as inventories and measured at fair value, at each reporting date, against the income statement. The Group holds Guarantees of Origin (GOs) as part of its generation and commercialization activities, which are recognised as Inventories and valued at the weighted average cost. The Green Certificates (GCs) are considered subsidies in accordance with IAS 20 and are accounted for under the caption Revenues and cost of Energy Sales and Services and Other. Unsold certificates are recognised as Inventories in accordance with IAS 2 and are derecognised at the time of their effective EDP Integrated Annual Report 2025 Financial Statements and Notes Index 318
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sale and any difference between the selling price and the fair value of the certificates recognised in profit or loss. M) Employee benefits Pensions Some EDP Group companies grant post-employment benefits to employees under defined benefit and defined contribution plans, namely pension plans that grant complementary retirement benefits for age and early retirement pensions. Defined benefit plans In Portugal, the defined benefit plan is assured by (i) a closed pension fund managed by an external entity, covering responsibilities with benefits that are complementary to those provided under the Social Security System (namely retirement and early retirement pensions); and (ii) by a complementary specific provision, recognised in the statement of financial position. Benefits are generally determined and assigned through the combination of one or more factors, such as age, years of service and the relevant base retribution (pensionable salary). The responsibilities for early retirement that are not covered by the fund’s assets are adequately provisioned. In Spain, the defined benefit plan is partially covered by insurance policies, and complemented by a specific provision, recognised at the statement of financial position. Benefits are generally determined and assigned through the combination of one or more factors, such as age, years of service and the relevant base retribution (pensionable salary). In Brazil, EDP São Paulo and EDP Espírito Santo have defined benefit plans managed by a closed complementary welfare entity, external to EDP Group, covering responsibilities associated with retirement and early retirement pensions, according to factors such as age, years of service and the relevant base retribution. In the pension plans in Brazil, the surplus amount of the assets fund generally can not be reimbursed to the company, since there are very strict rules on the amount that can be recovered, therefore the asset amount to be recognised is greatly reduced. The Group’s pension liability for each plan is calculated by independent experts annually, for each plan, at the reporting date, using the projected unit credit method. The discount rate used in the calculation is determined based on market interest rates of high quality corporate bonds denominated in the currency in which the benefits will be paid and that have similar maturity to the related pension liability. Actuarial gains and losses presented in consolidated statement of comprehensive income comprise: (i) the actuarial gains and losses resulting from increases or decreases in the present value of the defined benefit obligation because of changes in actuarial assumptions and experience adjustments; (ii) the return on plan assets, excluding amounts included in net interest on the net defined benefit liability (asset); and (iii) any change in the effect of the asset ceiling, excluding amounts included in net interest on the net defined benefit liability (asset). The increase in past service costs arising from early retirements (retirements before the normal retirement age) or plan amendments is recognised in the income statement when incurred. The Group recognises as operational results, in the income statement, current and past service costs. Net interest on the net defined benefit liability (asset) is recognised in financial results. The assets of the plan comply with the recognition criteria established by IFRIC 14 - IAS 19 and the minimum funding requirements established by law or by contract. Defined contribution plans Some Group companies in Portugal, Spain and Brazil have defined contribution social benefit plans that complement those granted by the Social Security System, under which they pay an annual contribution to the plans, calculated in accordance with the rules established in each plan. These contributions represent a percentage of the fixed and variable remuneration of the employees included in this plan and are accounted for as cost for the period in which they are due. Other benefits granted - Defined Benefit Type Some EDP Group companies provide medical benefits under which employees and immediate eligible family members have favourable conditions in medical assistance and health care services, namely: • Concerning EDP Group companies in Portugal, through the provision of medical assistance that is complementary to the one provided under the National Health System, provided using infrastructures owned and managed internally; • Concerning EDP Group companies in Spain and Brazil, through the share of costs in eligible medical and health expenses, in an external agreed network. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 319
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In Portugal, the medical benefit and death benefits plan is assured by (i) a closed fund managed by an external entity, created in December 2016, and (ii) a complementary specific provision, recognised in EDP Group company’s statement of financial position. In Spain, the medical care and death subsidy benefits plan is partially covered by insurance policies, and complemented by a specific provision, booked in EDP Group company’s statement of financial position. In Brazil, the liability is being covered by provisions booked in EDP Group company’s statement of financial position. Measurement and recognition of the medical benefits liabilities are similar to the defined benefit pension plans liabilities, explained above. In addition, EDP Group grants other benefits, supporting charges arising from responsibilities for disability benefit’s complements, survival benefits, life insurance, antiquity and retirement benefits, power tariff discounts, among others. These responsibilities are fully covered by a provision. Benefits included in each Plan for Portugal and Brazil are detailed in EDP’s Collective Labor Agreement, published in the Labor Bulletin of 8 October 2014 and in the website of the Plan management entity Enerprev (www.enerprev.com.br), respectively. N) Provisions Provisions are recognised when: (i) the Group has a present legal, contractual or constructive obligation; (ii) it is probable that settlement will be required in the future; and (iii) a reliable estimate of the obligation can be made. Provisions for dismantling and decommissioning in electric power plants The Group recognises provisions for dismantling and decommissioning of assets at the end of the assets’ useful life when there is a legal, contractual or constructive obligation. Therefore, such provisions have been booked for the electric power plants to cover the cost of restoring the location and land to their original condition. The provisions are measured at the present value of the expected future liability and are accounted for as part of the cost of the related property, plant and equipment being depreciated on a straight-line basis over the useful life of those assets. Decommissioning and dismantling provisions are remeasured annually based on the best estimate of the expenditure required to settle the obligation. The unwinding of the discount at each reporting date is recognised in the income statement. O) Recognition of revenue from contracts with customers EDP Group recognises revenue to depict the transfer of control of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for these goods or services, as provided in the five-step model introduced by IFRS 15, namely: (i) identify the contract with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to performance obligations; and (v) recognise revenue when (or as) the entity satisfies a performance obligation. Revenue in EDP Group arises from Sales ans services of Energy and accesses, Revenue from assets assigned to concessions and Other. Energy and accesses Revenue in EDP Group arises essentially from electricity generation, distribution and transmission of electricity and supply of energy (electricity and gas), guarantees of origin and green certificates. Additionally, it should be noted that, in energy distribution and supply activities, there is a tariff adjustment mechanism through which gains or losses of a certain year are recognised in the period to which they relate and recovered in the future year’s tariffs – Tariff Adjustments (see v)). Revenue related to the sale of energy, guarantees of origin, green certificates and access tariffs to energy distribution network is measured at fair value of the consideration received or receivable, net of value added tax, rebates and discounts and after elimination of intra-group sales, being recognised at a point in time when control of the asset is transferred to the customer, generally on delivery of the energy. The energy distribution is a regulated activity, which is remunerated through tariffs set by each country Regulatory Body (Entidade Reguladora dos Serviços Energéticos (ERSE) in Portugal, Comisión Nacional de Energía (CNE) in Spain and Agência Nacional de Energia Elétrica (ANEEL) in Brazil). In Portugal and Spain, revenue arises mainly from the sale of access tariffs, as well as from the recovery, from the commercialisation entities, of the costs related to the global management activity of the system. In Brazil, revenue results from the electricity sales to final consumers, in the regulated market, based on the tariffs determined by ANEEL, which are included the use of the distribution and transport system tariff, among other components. The energy supply is carried out in regulated and non-regulated markets. In non-regulated market, revenue is recognised based on commercial agreements. In regulated market, revenue is recognised according to the tariffs determined by each country Regulatory Body. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 320
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Revenue recognition includes two components: (i) energy sales already invoiced, based on actual consumption readings and/or in estimated consumption based on the historical data of each consumer; and (ii) estimates of energy supplied and not yet invoiced (energy into energy meter). Differences between estimated and actual amounts are recorded in subsequent periods. For pluriannual contracts with customers for energy sales including a termination clause determined based on the estimated consumption and contractual set prices, revenue is recognised based on the "Input Method". Under this method, revenue is recognised according to the percentage of the contract execution and the corresponding contractual margin. The margin is reviewed annually, on a contract- by-contract basis, based on the updating of estimated energy supply volumes until the end of the contract. EDP Group also sells products and services as a part of an integrated commercial offer ("bundled"). In a bundled sale arrangement, the Group accounts the sale of each product and/or service separately if they are distinct, that is, if the product or service is separately identifiable in the context of the integrated offer and the customer benefits from it. The consideration paid is allocated between the goods or services separately identifiable based on their relative stand-alone selling prices. The stand-alone selling price is determined based on EDP Group price lists on goods or services sold separately or, if they are not listed, based on the market valuation approach. EDP Group recognises the revenue related with services rendered over time given that the customer simultaneously receives and consumes the benefits provided. In what concerns variable transaction prices, EDP Group only recognises revenue when it is highly probable that there will not be any significant reversal of the recognised revenue, when it becomes certain. EDP Group considers the facts and circumstances when analysing the terms of each contract with customers, applying the requirements that determine the recognition and measurement of revenue in a harmonized manner, when considering contracts with the same characteristics and in similar circumstances. Revenue from assets assigned to concessions In Portugal and Brazil, the distribution and transmission activities are subject to public service concession arrangements, as detailed in y). Contract asset and liabilities EDP Group presents a contract asset if the Group has a right to consideration that is conditional on something other than the passage of time. This is common when the Group has transferred goods or services to a customer usually before invoicing and the payment is due, excluding any amounts presented as Trade receivables (unconditional rights to consideration). EDP Group presents a contract liability if the Group has an obligation to transfer goods or services to a customer for which the Group has received consideration (or an amount of consideration is due) from the customer. Incremental costs of obtaining a contract EDP Group establishes certain contracts with third parties for the promotion (sale) of energy and related services. These third parties act as sales agents and are paid through sales commissions. The Group recognises incremental costs of obtaining contracts with customers as an asset if the entity expects to recover these costs over the respective contracts. The costs incurred by an entity to obtain a contract with a customer are considered as incremental costs whenever it is clear that the entity would not incur these costs if the contract had not been obtained (for example, a sales commission). Therefore, EDP Group understands that the incremental costs to obtain a contract are eligible for capitalisation, accounting for a contract asset under the caption Debtors and other assets of commercial activities - Non-current. This asset shall be recognised in the income statement as amortisation, on a systematic basis that is consistent with the transfer to the customer of the goods or services to which the asset relates. Considering the analysis carried out on the set of goods and services provided by the EDP Group to which these commissions relate, the useful life allocated to them varies between 6 and 8 years. P) Financial results Financial results include interest costs on borrowings; interest income on funds invested; the financial expenses (unwinding) related to the discount of the employee benefits liabilities, provisions, institutional partnership in North America and lease liabilities; dividend income; foreign exchange gains and losses; realised gains and losses; changes in fair value of derivative financial instruments related to financing activities, classified by the Group, within IFRS 9, as held for trading and consequently measured at fair value through profit or loss; and changes in the fair value of hedged risks, when applicable. Interest is recognised in the income statement on an accrual basis. Dividend income is recognised when the right to receive the dividend is established. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 321
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Q) Income tax Income tax recognised in the income statement includes current and deferred tax. Income tax is recognised in the income statement except to the extent that it relates to items recognised directly in equity, in which case it is also recognised in equity. Deferred taxes arising from the revaluation of assets measured at fair value through other comprehensive income and cash flow hedge derivatives recognised in equity are recognised in the income statement in the same period in which the results that originated the deferred taxes are recognised. Current tax is the tax expected to be paid on the taxable income for the period, using tax rates enacted at the reporting date and including adjustment to tax payable in respect of previous years. Deferred taxes are calculated in accordance with the reporting liability method, considering temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and their respective tax basis, using the tax rates enacted or substantively enacted at the reporting date for each jurisdiction and that are expected to be applied when the temporary differences are reversed. Deferred tax liabilities are recognised for all taxable temporary differences except for: goodwill not deductible for tax purposes; differences arising on initial recognition of assets and liabilities that affect neither accounting nor taxable profit; and differences relating to investments in subsidiaries, to the extent that these are not expected to be reversed in the foreseeable future. Deferred tax assets are recognised to the extent that it is probable that future taxable profits will be available to absorb deductible temporary differences for taxation purposes. The EDP Group proceeds with the breakdown of deferred tax assets and deferred tax liabilities related with: i) assets under right of use and lease liabilities; and ii) provisions for dismantling and decommissioning and corresponding tangible fixed assets; where and whenever these amounts are not deductible until the payment date. The compensation between deferred tax assets and liabilities is performed at each subsidiary, and therefore the consolidated financial statements reflect in its assets the total of the deferred tax of subsidiaries that have deferred tax assets and in its liabilities the total of the deferred tax of subsidiaries that have deferred tax liabilities. The Group offsets the deferred tax assets and liabilities if, and only if: i)the entity has a legally enforceable right to offset current tax assets against current tax liabilities; and ii) the deferred tax assets and the deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously, in future periods in which deferred tax liabilities or assets are expected to be settled or recovered. When accounting for interest and penalties related to income taxes, EDP Group assesses whether a particular amount payable or receivable is, in its nature, a taxable income and, if so, applies IAS 12 to this amount. Otherwise, IAS 37 is applied. Regarding IFRIC 23 related to IAS 12 – Income tax, when there is uncertainty over income tax treatments, EDP Group measures its current or deferred tax asset or liability by applying the requirements in IAS 12. Additionally, the Group analyses all pending litigations or disputes with tax authorities regarding income tax and records the best estimate related to contingencies and litigations whenever necessary. R) Earnings per share Basic earnings per share are calculated by dividing the consolidated and the company net profit attributable to the equity holders of EDP, S.A. by the weighted average number of ordinary shares outstanding during the period, excluding the average number of shares held by the Group and by EDP, S.A., respectively. For the diluted earnings per share calculation, the weighted average number of ordinary shares outstanding is adjusted to consider conversion of all dilutive potential ordinary shares, such as convertible debt and stock options granted to employees. The dilution effect corresponds to a decrease in earnings per share resulting from the assumption that the convertible instruments are converted or the options granted are exercised. S) Non-current assets held for sale and discontinued operations Non-current assets or groups of non-current assets held for sale (groups of assets and related liabilities that include at least one non-current asset) are classified as held for sale when their carrying amounts will be recovered mainly through sale, the assets or groups of assets are available for immediate sale and its sale is highly probable. Prior to their classification as held for sale, the measurement of all non-current assets and all assets and liabilities included in a disposal group, is adjusted in accordance with the applicable IFRS standards. Subsequently, these assets or disposal groups are measured at the lowest between their carrying amount and fair value less costs to sell. 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T) Cash and cash equivalents Cash and cash equivalents include balances with maturity of less than three months from the contract date, including cash and deposits in banks. This caption also includes other short-term, highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value, and specific demand deposits in relation to institutional partnerships that are funds required to be held in escrow sufficient to pay the remaining construction related costs of projects in institutional equity partnerships in the next twelve months. On a company basis, EDP S.A. classifies as Cash and cash equivalents the current account balances with Group companies formalized through Cash Pooling Agreements (Group's financial system). U) Operating segmental The Group presents the operating segments based on internal management information (see note 50). V) Tariff adjustments Classification and measurement of regulatory assets, which qualify as financial assets in EDP Group’s financial statements, is analysed based on the business model used in the management of the assets and the characteristics of the contractual cash flows (see e)). In this sense, deviations and tariff deficits exclusively recovered or returned through electricity and gas tariffs, applicable to customers in subsequent periods, are recognised at amortised cost. On the other hand, deviations or deficits that can be recovered, either through electricity rates (receipt of capital and interest) or through sales with recourse to third parties (bilateral contracts or securitization operations) are recognised at fair value through comprehensive income. This classification results from the existing history of sales to third parties and from the management's perspective regarding the existing assets. The sale to third parties results from the Decree-Law 15/2022 of 14 January, which allows regulated companies in Portugal to transfer, in whole or in part, the right to receive tariff deviations or deficits through electricity tariffs. In regulated activities, the regulator establishes, through the tariff adjustment mechanism, the criteria to recognise gains or losses of one period in future periods. The tariff adjustments and deficits accounted for in the EDP Group financial statements represent the difference between the amounts invoiced by the regulated companies (based on the applicable tariffs published by the respective Regulator) and the regulated revenue calculated based on actual costs. The assets or liabilities resulting from the tariff adjustments and deficits are recovered or returned through the electricity and gas tariffs charged to customers in subsequent periods. Following the existing regulatory legislation, the regulated operators of the electric and gas sectors have the unconditional right to recover the tariff adjustments and deficits, therefore EDP Group recognizes under the income statement caption Revenues from energy sales and services and other – Energy and access, the effects resulting from the recognition of tariff adjustments and deficits, against the captions Debtors and other assets from commercial activities and Trade payables and other liabilities from commercial activities. W) CO2 Licenses and greenhouse gas emissions The Group holds CO2 Licenses in order to deal with gas emissions resulting from its operational activity and Licenses for trading. The CO2 and gas emissions Licenses held for its own use are booked as intangible assets at the acquisition cost. CO2 licenses consumption is recorded in accordance with the weighted average price of the CO2 and gas emissions Licenses held for consumption in that year. The Licenses held by the Group for trading purposes are booked under Inventories (see L)). X) Statement of Cash Flow The Statement of Cash Flow is presented under the indirect method, by which gross cash flows from operating, financing and investing activities are disclosed. The Group classifies cash flows related to interest and dividends paid as financing activities and interest and dividends received as investing activities. Y) Group concession activities in the scope of IFRIC 12 EDP Group applies IFRIC 12 to the public-private concession contracts in which the public entity controls or regulates the services rendered through the utilisation of certain infrastructure as well as the price for such services and also controls any significant residual interest in the infrastructure. The infrastructures allocated to concessions are not recognised by the operator as property, plant and equipment or as financial leases, as the operator does not control the assets. These infrastructures are recognised according to one of the following accounting models, depending on the type of remuneration commitment of the operator assumed by the grantor within the terms of the contract: EDP Integrated Annual Report 2025 Financial Statements and Notes Index 323
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Financial Asset Model This model is applicable when the operator has an unconditional right to receive certain monetary amounts regardless of the level of use of the infrastructure within the concession and results in a financial asset recognition, booked at amortised cost. Intangible Asset Model This model is applicable when the operator, within the concession, is remunerated on the basis of the level of use of the infrastructure (demand risk) and results in an intangible asset recognition. Mixed Model This model is applicable when the concession includes simultaneously guaranteed remuneration and remuneration based on the level of use of the infrastructure within the concession. Intangible assets within concessions are amortised over their respective useful lives during the concession period. The Group carries out impairment tests to the intangible assets within concessions whenever events or circumstances may indicate that the book value of an asset exceeds its recoverable amount, being any impairment recognised in the income statement. Grants received from customers related to assets within concessions are delivered to the Group on a definitive basis, and, therefore, are not reimbursable. These grants are deducted from the value of the assets allocated to each concession. The concession contracts that currently exist in EDP Group are mainly based in the Intangible Asset Model, namely in the electricity special regime production concessions (PRE) in Portugal and in the Mixed Model, namely in the electricity distribution concessions in Portugal and in Brazil. Z) Institutional partnerships in North America The Group has entered in several partnerships with institutional investors in North America (EDPR NA), through operating agreements with limited liability companies that apportion the cash flows generated by the wind farms between the investors and the Group and allocate the tax benefits, which include Production Tax Credits (PTCs), Investment Tax Credits (ITC) and accelerated depreciation, largely to the investor. The institutional investors purchase their minority partnership interests for an upfront cash payment with an agreed targeted internal rate of return over the period that the tax credits are generated. This anticipated return is computed based on the total anticipated benefit that the institutional investors will receive and includes the value of PTC’s / ITC's, allocated taxable income or loss and cash distributions received. The control and management of these wind farms are a responsibility of EDP Group and they are fully consolidated in these financial statements. The financial instruments held by the institutional investors issued by the partnerships represent compound financial instruments as they contain characteristics of both financial liabilities and equity. The Group has determined that at the funding dates, the fair values of the original proceeds are equal to the fair values of the liabilities at that time and no value was assigned to the equity component. Subsequently, these liabilities are measured at amortised cost. This liability is reduced by the value of tax benefits provided and cash distributions made to the institutional investors during the contracted period. The value of the tax benefits delivered, primarily accelerated depreciation and ITC, is recognised as Income from institutional partnerships on a pro-rata basis over the 30-35 year useful life of the assets and over the 5-year recapture period, respectively. The value of the PTC's delivered are recorded as generated. This liability is increased by an interest accrual that is based on the outstanding liability balance and the targeted internal rate of return agreed. After the Flip Date, the institutional investor retains a non-significant interest for the duration of the structure. This non-controlling interest is entitled to distributions ranging from 2.5% to 10% and taxable income allocations ranging from 5% to 10%. EDPR NA has an option to purchase the institutional investor’s residual interest at fair market value during a defined period following the Flip Date. Such fair value is calculated according to the future cash flows of the wind or solar projects or determined by an external party. Post flip non-controlling interests is the portion of equity that is attributed to the institutional investor in the institutional equity partnership at flip date. This amount is reclassified from the total equity attributable to the Parent to non-controlling interests caption in the period in which the Flip Date takes place. AA) Disposal of assets under Asset Rotation strategy The Asset Rotation strategy allows EDP Group to crystallize the value of a project by selling with loss of control, and reinvesting the proceeds in another projects, targeting greater growth. Typically, the developer retain the role of O&M supplier. The gains on disposals under this strategy are recognised in the caption Other income. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 324
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3. Recent accounting standards and interpretations issued Standards, amendments and interpretations issued effective for the Group The IAS 21 (Amended) - The Effects of Changes in Foreign Exchange Rates: Lack of Exchangeability already issued and effective on 1 January 2025 has been applied by the Group in the preparation of its financial statements. Standards, amendments and interpretations issued but not yet effective for the Group The standards, amendments and interpretations issued but not yet effective for the Group (whose effective application date has not yet occurred or, despite their effective dates of application, they have not yet been endorsed by the EU) are the following: • IFRS 18 - Presentation and disclosure in financial statements; I F R S 1 8 i s e f f e c t i v e f o r a n n u a l r e p o r t i n g p e r i o d s b e g i n n i n g o n o r a f t e r 1 J a n u a r y 2 0 2 7 a n d r e q u i r e s retrospective application to comparative periods. EDP Group is progressing its implementation programme to support timely adoption of the Standard, including a comprehensive assessment of the classification of income and expenses to align with the new operating, investing and financing categories in the statement of profit or loss. In parallel, the Group is implementing the necessary updates to internal reporting processes, controls and information systems to support the revised presentation a n d d i s c l o s u r e r e q u i r e m e n t s . T h e G r o u p i s a l s o i d e n t i f y i n g a n d a s s e s s i n g t h e m a n a g e m e n t - d e f i n e d p e r f o r m a n c e m e a s u r e s u s e d i n r e p o r t i n g t o d e t e r m i n e t h o s e w i t h i n t h e s c o p e o f I F R S 1 8 a n d t o p r e p a r e the related disclosures required. • IFRS 9 (Amended) and IFRS 7 (Amended) - Classification and measurement of financial instruments; • IFRS 9 (Amended) and IFRS 7 (Amended) - Contracts referencing nature-dependent electricity; • IFRS 19 - Subsidiaries without public accountability: disclosures; and • Annual Improvements (Volume 11). 4. Critical accounting estimates and judgements in preparing the financial statements IFRS requires the use of judgement and the making of estimates in the decision process regarding certain accounting treatments, with impact in total assets, liabilities, equity, costs and income. The main accounting estimates and judgements used in applying the accounting policies are discussed in this note in order to improve the understanding of how its application affects the Group’s reported results and disclosures. A broader description of the accounting policies employed by the Group is disclosed in note 2 - Accounting policies. Considering that in many cases there are alternatives to the accounting treatment adopted by EDP Group, the reported results could differ if a different treatment was chosen. The Executive Board of Directors believes that the choices made are appropriate and that the financial statements present fairly the Group operations in all material respects. Financial asset related with infrastructure concession contracts in Portugal The caption “Amounts receivable from concessions - IFRIC 12”, refers to the financial assets receivable by EDP Group companies that operate infrastructures under concession contracts, and arises from the unconditional right to receive this amount regardless of the utilisation level of the infrastructures covered by the concession. In these companies is included E-Redes – Distribuição de Eletricidade, S.A. as the National Distribution Network (RND) concessionaire, which comprises the medium and high voltage network (MV and HV), and low voltage distribution networks (LV), being these concessions exercised exclusively through public service concession contracts. The RND’s operation, which is part of the HV and MV, is carried out through a public service concessions’ attribution, by the Portuguese State. On the other hand, the right to distribute low voltage electricity is attributed to the Portuguese mainland municipalities. The legislation that establishes the basis of each concession sets up that the ownership or possession of the goods assigned to these concessions revert to the concessionaires at the end of their respective concessions. They also establish that in return for the assets returned to grantors, whether State or municipalities, compensation corresponding to the assets’ book value assigned to the concession, net of amortisations, financial contributions and non-refundable subsidies will be paid. Therefore, the assets’ estimated residual value at the end of each concession constitutes a financial asset, and the remaining fair value component of the concession assets is an intangible asset to be amortised over its useful life. Hence, the end date of EDP Integrated Annual Report 2025 Financial Statements and Notes Index 325
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each concession is one of the main assumptions to determine the amount of the financial and intangible assets. In May 2017 Law 31/2017 was approved, which lays down the principles and general rules concerning the organisation of public tendering procedures for the awarding, by contract, of the municipal LV concessions’ operation in the Portuguese mainland. This Law foresee the simultaneous launch, in 2019, of public tender procedures for all municipalities that do not opt for direct management of the electricity distribution activity. Meanwhile, the Decree-Law 15/2022, of 14 January 2022, introduced the automatic extension, without the need for further terms, of the current concession contracts for electricity distribution networks in LV, including those that had already reached their term, until the effective entry into operation of a new contractor, following the tenders for the attribution of LV concessions that will be held in the future. On 2 September 2024, the Resolution of the Council of Ministers 122/2024, established a Coordination Committee for Low Voltage to present a new proposal for the schedule and guidelines for the competitive procedure for the allocation of municipal concessions until 15 December 2024. During its work, the CCBT submitted proposals outlining key principles for advancing the process, while identifying the need to further assess conclusions in light of changes in the technical, legislative and regulatory framework at both national and European levels. Subsequently, Council of Ministers Resolution 30/2025,of 20 February 2025, extended until 15 December 2025 the deadline for submission of the consolidated timetable proposal and guiding principles for the award of municipal LV distribution concessions by the CCBT. In this context, at this date it is not yet possible to predict the end date of the low voltage concession contracts currently in force, so an annual extension of contracts that have already reached the originally planned end date is assumed. Thus, with reference to 31 December 2025, the financial asset and the intangible asset related to the concessions whose contracts have not yet ended were determined based on the respective expiry dates and, for the remaining concessions, the financial asset and the intangible asset are determined assuming the validity of the contracts until 31 December of the year following the year in question. Measurement criteria of the concession financial receivables under IFRIC 12 in Brazil In 2012, the Provisional Measure 579/12 was published in Brazil, meanwhile converted into Law 12.783/13, which determines that the amount of the indemnisation payable to the distribution companies regarding the assets not amortised or depreciated at the end of each concession, should be determined based in the methodology of the Value of Replacement as New (VNR). The indemnisation amount variation is booked against Revenues from energy sales and services and other. This amount corresponds to the difference between the residual value determined based on the value of replacement as new and the residual value determined based on the historical cost. ANEEL reviews the VNR, through the valuation report of the Regulatory Remuneration Base, every three years for EDP Espírito Santo and every four years for EDP São Paulo, as established in the concession contracts. Within these periods the distribution companies use their best estimate for the VNR. The use of different assumptions could result in different values of financial assets, with the consequent impact in the Statement of Financial Position (see note 26). Impairment of long term assets and Goodwill Impairment tests are performed whenever there is an indication that the recoverable amount of property, plant and equipment, right of use assets, intangible assets and investments in joint ventures and associates is less than the corresponding net book value of the assets. On an annual basis, the Group reviews the assumptions used to assess the existence of impairment in goodwill and right-of-use resulting from acquisitions of shares in subsidiaries. The assumptions used are sensitive to changes in macroeconomic indicators and business assumptions used by management. The investments in subsidiaries, on a company basis, and in associates are reviewed when circumstances indicate the existence of impairment. Considering the uncertainties regarding the recoverable amount of property, plant and equipment, intangible assets and goodwill as they are based on the best information available, changes in the assumptions could result in changes on the determination of the amount of impairment and, consequently, in results (see notes 12 and 19). Classification and measurement of financial instruments Financial instruments’ classification as debt or equity requires judgement in the interpretation of contractual clauses and in the evaluation of the existence of a contractual obligation to deliver cash or other financial assets. Fair values are based on listed market prices, if available. Otherwise, fair value is determined either by the price of similar recent transactions under market conditions, or determined by external entities, or based on valuation methodologies, supported by discounting future cash flows techniques, considering EDP Integrated Annual Report 2025 Financial Statements and Notes Index 326
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market conditions, time value, yield curves and volatility factors. These methodologies may require the use of assumptions or judgements in determining fair values. Consequently, the use of different methodologies and different assumptions or judgements in applying a particular model, could generate different financial results from those reported. Review of the useful life of the assets The Group reviews annually the reasonability of the useful lives attributed to the assets, that are the base to the corresponding depreciation rates. When applicable, the Group changes, prospectively, the asset's useful life and, subsequently, the depreciation rates of the period based on such review. Useful lives of generation assets - Hydro independent generator in Brazil The hydro generation assets in Brazil for independent generators are amortised during their estimated useful lives, considering the existing facts and circumstances at the date of preparation of the financial statements. This includes, among other issues, EDP's best expectations of the useful lives of such assets, which are consistent with the useful lives defined by ANEEL, the respective contractual residual indemnification values at the end of each concession period, as well as related technical and legal opinions. The remaining period of amortisation and the indemnification values at the end of the concessions may be influenced by changes in the regulatory legal framework in Brazil (see note 16). Lease contracts The Group recognises right-of-use assets and lease liabilities, if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, the Group assesses whether: i) the contract involves the use of an identified asset; ii) it has the right to obtain substantially all of the economic benefits from the use of the asset throughout the period of use; and iii) it has the right to direct the use of the asset. EDP Group uses judgement on its assessment, namely concerning the termination and extension contract options and the determination of the incremental borrowing rate to be applied for each portfolio of leases identified (see notes 17 and 39). Tariff adjustments Portugal Tariff adjustments in Portugal represent the difference between costs and income of the National Electricity, estimated at the beginning of each period for purposes of calculating the tariff, and the actual costs and income of the System established at the end of each period. The tariff adjustments assets or liabilities are recovered or returned through electricity and gas tariffs to customers in subsequent periods. Decree-Law 15/2022 of 14 January, recognised an unconditional right of the operators of the electricity sector to recover the tariff adjustments and related interest expenses, notwithstanding the form of the future payment or situations of insolvency and cessation of operations. Additionally, the legislation allows the transfer to third parties of the right to receive tariff adjustments. Therefore, under this legislation, regulated companies may provide to third parties, in whole or in part, the right to receive the tariff adjustments through the electricity tariffs. In accordance with the accounting policy in force, the EDP Group books under the caption Revenues from energy sales and services and other - Electricity and network access, the effects of the recognition of tariff adjustments in the electricity sector, against Debtors and other assets from commercial activities and Trade payables and other liabilities from commercial activities. Brazil On 25 November 2014, ANEEL made addendums to the concession contracts with electric distribution companies to reduce significant uncertainties regarding to the recognition and realization of regulatory assets/liabilities that existed since 2010, when the IFRS were adopted in Brazil. As a consequence, the CPC ("Comitê de Pronunciamentos Contábeis") issued on 28 November 2014, the OCPC 08 (Recognition of Certain Assets and Liabilities in Accounting and Financial Reports of Electric Distribution) which determines how to treat these regulatory assets/liabilities in the financial statements. Therefore, on 10 December 2014, EDP Brasil signed the Fourth and Fifth Addendum to the Concession Agreement, where it was established that, in the case of concession termination, the outstanding balances of any failure of payment or reimbursement by the tariff (assets and liabilities), will be considered on the indemnity calculation, based on the regulator pre-established regulations. EDP Group considers, based on the issued legislation (Portugal and Brazil), that the requirements for the recognition of tariff deficits as receivables and payables against the income statement of the period have been satisfied (see notes 7, 26 and 38). EDP Integrated Annual Report 2025 Financial Statements and Notes Index 327
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Revenue recognition Energy sales revenue is recognised when the monthly energy invoices are issued, based on actual meter readings or estimated consumption based on the historical data of each consumer. Revenue relating to energy to be invoiced, regarding consumption up to the reporting date but not measured, is booked based on estimates that take into consideration factors such as consumption in prior periods and analysis relating to the energy balance of the operations. The use of different estimates and assumptions could affect the Group’s revenue and, consequently, its reported results (see note 7). Income taxes The Group is subject to income taxes in several jurisdictions. Certain interpretations and assumptions are required in determining the global amount of income tax. There are several transactions and calculations for which the ultimate tax determination is uncertain during the ordinary course of business. Different interpretations and assumptions could result in a different level of income taxes, current and deferred, recognised in the period (see note 14). The Group evaluates the recoverability of deferred tax assets based on estimations of future taxable income in the period in which such deferred taxes are deductible. Pensions and other employee benefits Determining pension and other employee benefits liabilities requires the use of assumptions, including actuarial projections, estimated rates of return on investments, discount rates and pension and salary growth and other factors that can impact the cost and liability of pension plans, medical plans and other benefits. Changes in the assumptions could materially affect the amounts determined (see note 35). Dismantling and decommissioning provisions EDP considers that Group has legal, contractual or constructive obligations to dismantle and decommission property, plant and equipment assets allocated to electricity generation operations. The Group records provisions in accordance with existing obligations to cover the present value of the estimated cost to restore sites and land where the electricity generation units are located. EDP Group provisions include the calculation of the present value of the expected future liabilities. The use of different assumptions and judgement from those referred could lead to different financial results and depreciations than those considered (see note 36). Entities included in the consolidation perimeter In order to determine which entities must be included in the consolidation perimeter, EDP Group evaluates whether it is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee ("de facto" control). This evaluation requires the use of judgement and assumptions. Other assumptions and judgements could lead to a different consolidation perimeter of the Group, with direct impact on the consolidated financial statements (see note 6). Business combination Under IFRS 3 (Business Combination) in a business combination, the acquirer shall recognise and measure in the consolidated financial statements the assets acquired and liabilities assumed at fair value at the acquisition date. The difference between the purchase price and the fair value of the assets and liabilities acquired leads to the recognition of goodwill or a gain from a purchase at a low price (bargain purchase). The fair value determination of the assets acquired and liabilities assumed is carried out internally or by independent external evaluators, using the discounted cash flows method, using the replacement cost or other fair value determination techniques, which rely on the use of assumptions including macroeconomic indicators such as inflation rates, interest rates, exchange rates, discount rates, sale and purchase prices of energy, cost of raw materials, production estimates and business projections. The determination of the fair value and, consequently, of goodwill or gain from a bargain purchase is subject to numerous assumptions and judgments and therefore changes could result in different impacts on results. Fair value measurement of contingent consideration Contingent consideration from a business combination or a sale of a financial investment is measured at fair value at the acquisition date as part of the business combination or at the date of the sale. This contingent consideration is subsequently remeasured at fair value at each report date. Fair value is based on discounted cash flows. The main assumptions correspond to the best estimates of management at each report date and consider the probability of achieving each objective and the EDP Integrated Annual Report 2025 Financial Statements and Notes Index 328
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discount factor. Changes in assumptions could have significant impact on the values of contingent assets and liabilities recognised in the financial statements (see notes 27 and 39). Acquisition of assets out of the scope of IFRS 3 In order to assess whether an acquisition of an asset or a group of assets is a business, the Group identifies the elements in the acquired entity (inputs, processes and outputs), assesses the capability to create outputs and, finally, assesses the capability of market participants to continuing to create outputs. The Group concludes that IFRS 3 is not applicable when there are no outputs at the acquisition date due to an early-stage of development, and the acquired process(es) cannot be considered substantive. Thus, the acquisition of an asset or a group of assets that does not fulfill the conditions to be considered a business is classified as an acquisition of a company out of scope of IFRS 3. Contractual stability compensation - CMEC The approval in 2004 of the Decree-Law 240/2004, of 27 December, determined the early Power Purchase Agreements (PPA) extinction, and the adoption of a contractual stability compensation (CMEC), which EDP Produção entered into after signing the Contractual stability on 27 January 2005, approved by the competent Government member (Order 4672/2005, of 4 March). This mechanism includes three types of compensation: initial compensation, annual adjustment (or revisibility) and final adjustment. The last two types of compensation are relevant for this purpose. i. Contractual stability compensation - Annual revisibility mechanism During period I (2007/2017) of the contractual stability compensation mechanism, there was a correction on an annual basis, resulting from positive or negative deviations between the estimates made for the initial stability compensation calculation and actual amounts arising from an efficient performance, using the "Valorágua" model, as established in the Decree-Law 240/2004. Revisibility amounts for the years 2007 to 2014 were determined and approved by the Government member responsible for energy. EDP Produção challenged the 2011 and 2012 revisibility decisions, on the grounds that costs incurred with the Social Tariff were not considered, as well as the 2014 revisibility, which, in addition to the Social Tariff, also did not consider costs related to the Extraordinary Energy Sector Contribution (CESE). Regarding the revisibilities of 2011 and 2012, the Administrative Court dismissed, in different occasions, the special administrative actions brought by EDP Produção, not recognizing the Social Tariff financing costs in the calculation of those revisibilities. Disagreeing with these decisions, EDP Produção filed appeals in both cases. The approval of the 2015 revisibility, issued on 20 October 2020, deducted an amount of 72.9 million Euros relating to alleged overcompensation obtained by the CMEC plants in the ancillary services market between 2009 and the first quarter of 2014 (see section Ancillary Services), setting the final revisibility amount at 62.7 million Euros. On 19 January 2021, EDP Produção challenged this approval decision, as it does not recognise the existence of such overcompensation and therefore does not agree with the deduction made to the 2015 revisibility. Accordingly, a provision of 72.9 million Euros was recorded. The challenge also includes the non-consideration of Social Tariff and CESE amounts paid by plants operating under the CMEC regime, as well as the non-approval of the annual revisibilities for 2016 and 2017, which remain pending decision by the Government member responsible for energy. ii. Contractual stability compensation - Final Adjustment The number 7 of article 3rd and Annex IV of Decree-Law 240/2004 establish the methodology for calculating the Final Adjustment of the CMEC and the Law 42/2016 of 28 December, which approved the State Budget for 2017, determined in article 170 that the Final Adjustment should be calculated and substantiated through a study prepared by ERSE, with the technical support of EDP Produção and REN, through a legally constituted Working Group. The technical group submitted to ERSE a report calculating the CMEC Final Adjustment in accordance with the methodology set out in Decree-Law no. 240/2004, resulting in amounts ranging between 256.5 million Euros and 271 million Euros. In late September 2017, ERSE submitted to the Government a study assessing the CMEC Final Adjustment at 154 million Euros. As it did not accept this quantification, in the financial statements as at 31 December 2017, EDP recognised an asset 256.5 million Euros, with a corresponding entry in deferred income, reflecting its best estimate of the CMEC Final Adjustment, based on the methodology established in Decree-Law no. 240/2004 and supported by legal opinions corroborating this interpretation. On 25 April 2018, the Secretary of State for Energy approved the Final Adjustment as proposed by ERSE, setting it at 154 million Euros. Considering that this decision lacked technical, economic and legal grounds — particularly as it did not apply the calculation methodology established in Decree-Law no. 240/2004, which would have resulted in an amount close to that determined by the Working Group — EDP Produção filed a judicial challenge on 3 September 2018 before the Lisbon Administrative Court. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 329
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This matter was reflected in the financial statements as at 31 December 2018 through the recognition of a provision corresponding to the difference between the approved amount and the Final Adjustment previously recognised in the Group’s results. "Clawback" - Portuguese regulatory mechanism to ensure the competitive balance in the wholesale electricity market, particularly in Iberian market Following the introduction in early 2013 of a set of tax measures on electricity generation in Spain, for which there was no equivalent in the Portuguese tax framework, Decree-Law 74/2013 of 4 June was approved with the objective of safeguarding competitive balance in the Iberian wholesale electricity market (MIBEL), preventing distortions arising from asymmetric tax measures between the two States. To correct the impact of non-market events on the formation of the average wholesale electricity price in Portugal, the competitive balance mechanism (“clawback”) established by this decree provides for the consideration of both charges borne exclusively by producers operating in Spain (external non- market events) and those borne exclusively by producers operating in Portugal (internal non-market events). However, in successive decisions approving the final compensation payable by producers subject to the clawback mechanism, certain charges without an equivalent in Spain — namely the Extraordinary Energy Sector Contribution (CESE), the Social Tariff and, in 2020 and 2021, the transmission network access tariff applied to generation (“G Charge”) — have not been considered as internal non-market events, contrary to the underlying rationale of the decree-law.For this reason, EDP has been challenging in court the approval of clawback amounts paid in respect of the years between 2015 and 2021. The application of the clawback mechanism was suspended between the second half of 2021 and the end of 2023, during which period the Spanish electricity generation tax (IVPEE) was suspended, and resumed in 2024. In this context, Order 12554/2025 of 27 October approved the final compensation applicable to 2024 and once again did not recognise CESE and the Social Tariff as internal non-market events. In light of this exclusion, EDP will challenge this order in court. Going forward, no further disputes are expected regarding the clawback mechanism, following the publication of Decree-Law no. 139-B/2025, which abolishes the mechanism with effect from 2025 onwards and repeals the corresponding regulation, while safeguarding its application to 2024. Ancillary services - Secondary regulation band service On 18 September 2019, the Portuguese Competition Authority (Autoridade da Concorrência – AdC), following the adoption of a Statement of Objections and EDP Produção’s response thereto, imposed a fine of 48 million Euros on EDP Produção for an alleged abuse of a dominant position in the secondary regulation band service in mainland Portugal between January 2009 and December 2013. According to the AdC, EDP Produção allegedly manipulated its offer of the secondary regulation band service by limiting the capacity offered by its CMEC-regime power plants in order to offer that capacity through its market-regime power plants. The EDP Group continues to consider that EDP Produção did not engage in any abuse of a dominant position, having acted strictly in accordance with the applicable legal framework. For this reason, on 30 October 2019, EDP Produção appealed the AdC’s decision to the Competition, Regulation and Supervision Court (Tribunal da Concorrência, Regulação e Supervisão – TCRS), which, on 10 August 2022, upheld the AdC’s decision, maintaining the imposition of the 48 million Euros fine. EDP Produção lodged an appeal against this judgment with the Lisbon Court of Appeal (Tribunal da Relação de Lisboa – TRL) on 30 September 2022. Meanwhile, on 20 October 2021, EDP Produção paid the fine, pursuant to a determination of the TCRS, which rejected the possibility proposed by the company of providing a bank guarantee or security in lieu thereof. Subsequently, by judgment delivered on 25 September 2023, the TRL partially dismissed the appeal lodged by EDP Produção in August 2022, confirming the TCRS judgment but reducing the amount of the fine from 48 million Euros to 40 million Euros. In light of this decision, on 9 October 2023 EDP Produção lodged an appeal with the Constitutional Court, raising the constitutional issues it had invoked throughout the proceedings; this appeal was dismissed. By order of 2 October 2024, the TCRS determined the reimbursement to EDP Produção of the amount paid in excess of the fine set by the TRL, plus the estimated costs, and on 17 January 2025 the transfer to EDP Produção of 7,940 thousand Euros was ordered. At present, an appeal filed by EDP Produção in March 2025 is still pending before the Constitutional Court. In parallel, following the AdC decision convicting EDP Produção of an alleged abuse of a dominant position in the secondary regulation band market, the company was served, on 29 September 2021, EDP Integrated Annual Report 2025 Financial Statements and Notes Index 330
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with a popular action brought by the IUS Omnibus Association. The action, filed in alleged representation of the consumers purportedly harmed, seeks compensation in the amount of 94.8 million Euros, based on one of the estimates produced by the AdC in the context of the above-mentioned administrative offence proceedings. EDP Produção filed its defence, refuting the allegations and presenting alternative calculations demonstrating that consumers suffered no damage. The proceedings were stayed by judicial decision until a final decision is issued in the said administrative offence proceedings. In October 2024, the Court ordered that official certificates be obtained of the judgment and the TRL ruling relating to the administrative offence proceedings, as well as of the decision on the application submitted by EDP Produção, with res judicata endorsements. Innovatives Features On 26 September 2018, EDP Produção was notified of the Secretary of State for Energy’s order dated 29 August, issued following a hearing conducted by DGEG regarding alleged “innovative features” introduced by the CMEC regime compared to the PPAs. In that order, the Secretary of State considered as an “innovative aspect” the “procedures for calculating the verified availability coefficient”, attributing to it an impact of 285 million Euros. The decision was based on DGEG’s view, expressed during the prior hearing, regarding the alleged absence of legal grounds for conducting availability tests on CMEC plants. Considering that such interpretation lacked technical, economic and legal basis, EDP Produção filed an administrative complaint on 8 October 2018. Subsequently, EDP Produção became aware of a further order dated 4 October, declaring null and void the annual adjustments to the extent that they considered the alleged “innovative aspect” relating to the availability coefficient procedures. As a consequence, in the Tariffs and Prices Document for 2019, ERSE provided for the reimbursement of 90 million Euros and anticipated that the remaining amount of the 285 million Euros would be returned in subsequent years in a manner ensuring a neutral tariff impact of the CMEC. This resulted in reimbursements of 86.5 million Euros in 2020 tariffs, 86.5 million Euros in 2021 tariffs and 21.9 million Euros in 2022 tariffs. Having received no response to the administrative complaint, EDP Produção filed a judicial challenge on 1 February 2019 against the orders of 29 August and 4 October, as well as against the 2019 Tariffs and Prices Document. Although the EDP Group considers that no innovative aspects were factored into the CMEC adjustments, it recognised a provision of 285 million Euros in the financial statements as at 31 December 2018, which was fully utilised in the amounts returned through tariffs between 2019 and 2022. Procedure for declaring "lesividad" The BOE 223/2017 published during the third quarter of 2017 opened the hearing process of the Order of the Minister of Energy, Tourism and Digital Agenda of 13 September, introducing "lesividad" declaration procedure for the public interest Order IET/980/2016, of 10 June, which established the remuneration of electricity distribution companies until 2016. Thus, the remuneration that has been determined has allegedly been higher than that due for the year 2016. Until the "lesividad" procedure is finitely resolved, the remuneration of the distribution activity for the years 2016, 2017, 2018 and 2019 is considered provisional. With reference to 31 December 2020, EDP España recorded an accumulated provision of 93 million Euros corresponding to the potential effect of "lesividad" for the financial years 2016, 2017, 2018, 2019 and 2020. Since 2016, EDP España, like other companies in the sector, have been in place with legal proceedings to resolve the “lesividad” procedure. At the same time, companies initiated processes to determine the real value of assets subject to remuneration and proceeded with the reformulation and deposit of their annual accounts from 2014 to 2020, ending this process during 2021. Although no new liquidation or a new regulation has been issued, the companies consider that, in accordance with the order 481/2020 of the Supreme Court, the reformulated and deposited annual accounts must be considered for the calculation of the remuneration. Thus, in 2021, EDP España updated the provision for the “lesividad” procedure for the years 2016 to 2020, reversing it by approximately 47 million Euros. On 1 June 2022, order TED/490/2022, of 31 May, was published in BOE 130/2022, which executes the judgment of the Federal Supreme Court in relation to the declaration of "lesividad" to the public interest of the Order IET/980/2016, of 10 June. The remuneration approved by the Ministry of Ecological Transition and the Demographic Challenge in the referred Order did not take into account the accounts reformulated by the distribution companies, resulting in a notable decrease in their remuneration compared to the expected and accounted values corresponding to a correct execution of the sentence. Subsequently, the "Comisión Nacional de los Mercados y la Competencia" (CNMC) settled the payment obligations arising from the "lesividad" referring to the years 2016, 2017, 2018, 2019, 2020 and 2022 in the Provisional Agreement 5/2022 (partially corresponding to the year 2022) approved by the CNMC on 14 July 2022 and those corresponding to the 2021 financial year in the “2021 Definitive Settlement of regulated activities in the electricity sector”, approved by the CNMC on 4 November 2022. The distribution companies of the EDP Group filed lawsuits against order TED/490/2022 and against the EDP Integrated Annual Report 2025 Financial Statements and Notes Index 331
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final settlements of 2021 and 2022, in order to obtain the collection of amounts due from a correct execution of the judgment. During the year 2024, the legal proceedings opened against the Order TED/490/2022 by the EDP Group continued to evolve as expected. On 17 January 2024, a favorable decision was notified to Viesgo Distribución Eléctrica - which was issued on 21 December 2023, and its execution was requested on 13 June 2024 - and having been notified on 22 April 2024, of a favorable decision for Hidrocantábrico Distribución Eléctrica which was issued on 16 April 2024, becoming final on 28 May 2024.In November 2024, the State Secretariat for Energy of the Ministry for Ecological Transition and Demographic Challenge notified Hidrocantábrico Distribución Eléctrica and Viesgo Distribución of the Resolutions issued on 31 October 2024, which proceeded with the execution of the aforementioned Supreme Court rulings of 21 December 2023, and 16 April 2024. Subsequently, in December 2024, the CNMC, in application of these resolutions, through the settlement of regulated activities 10/2024, settled 12.2 million Euros in favor of Hidrocantábrico Distribución Eléctrica and 4.8 million Euros in favor of Viesgo Distribución Eléctrica, corresponding to their respective remunerations for the 2016 fiscal year. An impact is estimated for the fiscal years 2026 and onwards of 8.1 million Euros for Hidrocantábrico Distribución Eléctrica and 1.3 million Euros for Viesgo Distribución Eléctrica per fiscal year (in the period from 2016-2025, the aforementioned impact amounts to 89.31 million Euros and 17.21 million Euros, respectively). Sale of portfolio of Hydroelectric Projects The project for the sale of the portfolio of Hydroelectric Projects located in the Douro basin falls within the scope of EDP's strategic plan for 2019-2022, as presented to the market in March 2019 and reinforced with EDP's Strategic Plan for 2021-2025 presented in February 2021, in particular within the scope of the strategy of portfolio balancing and capital reallocation, as a way to finance new investments, particularly in renewable energy, including in Portugal. The transaction was concluded on 16 December 2020, through the sale of the entire share capital of the company Camirengia Hidroelétricos S.A. (“Camirengia”), by its sole shareholder, EDP - Energias de Portugal, S.A. ("EDP"), to the company Movhera - Hidroeléctricas do Norte, S.A. (previously known as Águas Profundas, S.A., company incorporated in Portugal and therefore resident for tax purposes in Portugal, owned by the consortium formed by GDF International SAS, from ENGIE Group, by 40%, Mirova S.A. by 35% and Predica Prevoyance Dialogue du Credit Agricole, S.A. by 25%). The company Camirengia was incorporated under the simple demerger of EDP - Gestão da Produção de Energia, S.A. ("EDP Produção"), under which a complex set of items was carved-out from this company, comprising not only the titles of use of the hydric resources related to the portfolio mentioned above, but also by a multiplicity of assets, liabilities, resources and contractual positions associated and necessary for the development of the exploration activity of those Hydroeletric Projects. From a strictly operational, regulatory, technical and legal point of view, the demerger was the only viable and feasible option to proceed with the detachment of the portfolio, considering its size and complexity. In this sense, EDP followed the only model, the demerger and the subsequent sale of shares, that guaranteed the continuity of operations and the maintenance of all the commitments (including environmental nature and towards the municipalities) necessary for the portfolio normal operation and also to respond to the need of the buyer of acquiring a functional and autonomous company that would ensure the operation of all activity, without disruption, immediately after the sale - which was also required by the regulator. On the other hand, the contractual model used in the implementation of the transaction is fully in line with market standards. After its conclusion, the transaction was subject to media attention, based on the assumption that it constitutes a transfer of concessions and that, therefore, would be subject to Stamp Duty (under paragraph 27.2 of the Stamp Duty General Table). In EDP's view, that assumption is not at all applicable, and Stamp Duty is not due, as the transaction did not entail a transfer of concessions, but rather a demerger followed by the sale of the entire share capital of a company (Camirengia) holding the patrimonial assets assigned to the portfolio, operations that are not subject to Stamp Duty. In this context, on 16 March 2021, the President of the EDP Executive Board of Directors was requested to attend the Environment, Energy and Spatial Planning Commission of the Portuguese Parliament, in order to address the abovementioned transaction, where EDP had the opportunity to clarify all questions addressed by the Members present. In addition, on 1 April 2021, that Commission sent EDP a request for information and questions about the transaction. On 15 April, EDP, committed to contribute to the swift, full and definitive clarification of the questions that were presented, sent to the Portuguese Parliament answers to all the questions raised, and made available all the requested documentation, despite its private and confidential nature, as a testament to the collaborative, transparent and good faith attitude with which EDP has been guiding its relationship with the State and its institutions. In this spirit of collaboration, transparency and good faith in its relationship with the State and its institutions, EDP proactively contacted the Tax Authority, making itself available to clarify the tax aspects of the operation. On 6 July 2021, EDP became aware that DCIAP is investigating the sale of the Douro portfolio, with searches carried out at the premises of EDP and EDP Produção. During the diligence, and basing its action on a cooperative posture, all cooperation and assistance was provided to the authorities. On 30 October 2025, the Public Prosecutor issued a decision to close the investigation, concluding that there were no indications of tax fraud or abusive tax practices. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 332
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Without prejudice to the dismissal of the criminal proceedings, the Public Prosecutor’s Office identified the existence of allegedly outstanding tax in the approximate amount of 335 million of Euros, a matter which shall henceforth be assessed exclusively within the administrative framework. In this context, the issue will proceed in accordance with the terms and conditions set forth under applicable tax legislation. In the spirit of cooperation that characterizes EDP, the Company will provide all clarifications deemed appropriate by the Tax Authority, while safeguarding its interests and its understanding of the correct application of tax law. EDP fully complies with all its obligations, including tax obligations, and applies rigorous technical standards in the assessment of all matters. The transaction was executed in accordance with the applicable tax framework in force at the time and was supported by legal opinions issued by reputable tax experts. Sharing of gains obtained from the assignment of the deferral of the cost differential of Guaranteed Remuneration Production in 2024 In the 2024 tariff exercise, ERSE decided to defer, for a period of 5 years, the recovery of the cost differential of guaranteed remuneration production (PRG) for the year 2024 and adjustments for the previous two years, amounting to more than two billion Euros. SU ELETRICIDADE, as the holder of this tariff credit and exercising the prerogative provided for in Article 209 of Decree-Law No. 15/2022, of 14 January proceeded to assign to third parties almost the entirety of that amount. In these circumstances, Ordinance No. 300/2023, of 4 October determined the sharing with the global system usage tariff (UGS) of half of the gains or losses resulting from the assignment of the tariff credit, calculated by the difference between the "net amount received by the company" and the "amount of deferred amounts that are outstanding at the date of the respective assignment." Thus, in the 2025 tariff decision, ERSE considered the transfer to the tariff system of 37.3 million Euros for the assignment of the 2024 deferral, corresponding to an estimated gain of 74.6 million Euros. In the understanding of SU ELETRICIDADE, ERSE's calculation does not comply with the provisions of Ordinance No. 300/2023, nor with the generally accepted premises for asset valuation, resulting in an overestimation of the gain from the assignment. Indeed, according to technical opinions from two independent entities of recognized merit and experience in financial calculation, the gain obtained from the assignment of the 2024 tariff deferral totals 39 million Euros, which would imply, under applicable legal terms, the sharing with the UGS tariff of 19.5 million Euros. In this context, SU ELETRICIDADE decided to challenge the document setting the tariffs and prices for electricity and other services in 2025 before the Administrative Court of the Lisbon District. Consequently, a provision of 17.8 million Euros was created in the 2024 accounts of SU ELETRICIDADE, corresponding to the difference between the amount considered by ERSE and that determined by the independent entities in their technical opinions, and it was fully utilised during 2025. Divestment decision in wind farms in Colombia In 2019, EDPR decided to enter the Colombian market through the acquisition of two wind farm projects, Alpha and Beta, with a combined capacity of 0.5 GW. These projects are in the department of La Guajira (the northeastern region of the country), a location with excellent wind resources and an expected annual generation of 2.5 TWh, which would significantly contribute to Colombia’s energy diversification and transition goals. The Alpha and Beta projects obtained their respective environmental licenses between August 2018 and August 2019. In October 2019, the Colombian government held a PPA auction, awarding EDPR, as a seller, the subscription of Power Purchase Agreements (PPAs) for 1.7 TWh/year of renewable energy over a 15- year term starting in 2022, together with associated PPA liabilities and guarantees. Due to external circumstances beyond EDPR’s control, the construction of the wind farms began to experience delays. In response, EDPR committed a substantial part of the capex, including the procurement of 90 Vestas V162-5.6MW turbines and balance-of-plant (BOP) works, to comply with its obligations under the PPA. These assets still represent a significant portion of EDPR’s investment and liabilities. The construction has been hindered by factors outside EDPR’s control, including regional security issues, blockades by local indigenous communities, delays in the construction of third-party infrastructure necessary to connect the wind farms to the national grid, and the government’s lack of support in securing the environmental permit for the transmission line. This is even though, since 2021, the Alpha and Beta projects were declared Projects of National and Strategic Interest. Additional challenges include the enactment of new legislation with adverse economic impacts compared to the original regulatory framework, a significant increase in construction costs, the devaluation of the Colombian peso, and rising financing costs. Since 2022, EDPR has undertaken several initiatives with the Government and regulatory authorities, emphasizing the urgent need for measures to restore the projects’ economic viability. In August 2023, EDP Integrated Annual Report 2025 Financial Statements and Notes Index 333
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the Government issued Decree 1276, which aimed to mitigate the adverse impacts on the projects. However, the Constitutional Court later declared unconstitutional the state of social, economic, and environmental emergency in La Guajira, which served as the legal basis for Decree 1276. As a result, the decree was annulled in October 2023. Despite these setbacks, EDPR pursued alternative mitigation strategies and successfully renegotiated 80.7% of the total PPA energy volumes bilaterally, resulting in the suspension of energy delivery for over two years. Concurrently, EDPR submitted a new environmental permit application, expanding the projects’ area of influence and increasing the number of indigenous communities consulted from 54 to 97. EDPR also formally requested improvements to the regulated revenue framework, including reforms to the "cargo por confiabilidad" (reliability charge) mechanism and other measures deemed essential by EDPR and the Colombian Renewable Energy Association to enable wind project development. However, the Government did not respond to these requests. Following a comprehensive review of the projects and in light of the foregoing, EDPR concluded that the investments were unrecoverable and, in December 2024, announced its decision to exit the Colombian market. After initiating the legal liquidation process, the ANLA granted the environmental license for the transmission line, albeit with conditions and requirements that render its construction unfeasible. EDPR appealed this decision, asserting that one potential avenue to mitigate the damages incurred is the sale of the projects to a third party. On 17 November 2025, EDPR filed a Request for Arbitration before ICSID against the Republic of Colombia, pursuant to the Spain–Colombia Bilateral Investment Treaty (BIT) of 2005. This filing marks the formal commencement of investment arbitration proceedings. Meanwhile, the liquidation process of the companies owning Alpha and Beta is ongoing, and their assets are being sold to settle outstanding debts in accordance with Colombian law. Feed-In-Tariffs (FIT) in Vietnam Since January 2025, EDPR’s utility-scale renewable energy projects in Vietnam (458 MWp under FIT 1 and FIT 2) have been impacted by a temporary regulatory framework that resulted in reduced payments by Electricity Vietnam (EVN), corresponding to approximately 50% of the contracted feed-in tariff. This situation arose following the interpretation and potential retroactive application of Circular 10/2023, which introduced the requirement for a Construction Completion Acceptance (“CCA”) certificate prior to Commercial Operation Date (“COD”), for FIT eligibility. This requirement was not applicable at the time the EDPR projects achieved COD and commenced operations under the FIT regime. Throughout 2025, EDPR maintained active and constructive engagement with Vietnamese authorities, including the Ministry of Industry and Trade (MOIT), the Electricity Authority of Vietnam (EAV) and EVN, as well as with diplomatic representations and other foreign investors. These interactions aimed to promote regulatory clarity and the restoration of full compliance with the contractual FIT framework. Based on the information available at the reporting date, management considers the reduced FIT payments to represent a temporary measure implemented while the authorities assess a broader, long- term solution for the sector. This judgement has been a key factor in the assessment of the recoverability of trade receivables. Accordingly, and applying the expected credit loss model in accordance with IFRS 9, the reduced cash collections from feed-in tariffs in Vietnam during 2025 resulted in the recognition of an impairment loss on trade receivables of 26 million Euros in the consolidated financial statements as at 31 December 2025. U.S. Legislative and Regulatory Update O n 2 J u l y 2 0 2 5 , t h e U . S . S e n a t e p a s s e d t h e f i n a l v e r s i o n o f t h e O n e B i g B e a u t i f u l B i l l ( O B B B ) , w h i c h w a s subsequently approved by the House on July 3rd and signed into law by the President on 4 July 2025. This legislation introduces significant changes to the U.S. renewable energy landscape (see note 14). EDPR remains well-positioned in this landscape, continuing to work to safeguard eligibility for existing tax credits while mitigating future risks of losing incentives. Global Minimum Tax (Pillar 2) The EDP Group is within the scope of the OECD Pillar 2 global minimum tax framework, as implemented in the European Union through Council Directive (EU) 2022/2523, which applies to multinational enterprise groups with consolidated annual revenues exceeding EUR 750 million. The Pillar 2 rules aim to ensure that in-scope groups are subject to a minimum effective tax rate of 15% in each jurisdiction in which they operate. The EDP Group has applied the mandatory temporary exception under IAS 12, which requires that deferred tax assets and liabilities arising from Pillar 2 income taxes are not recognised. Accordingly, no deferred tax balances relating to Pillar 2 are recognised in the financial statements. Pillar 2 operates primarily through the Income Inclusion Rule (IIR), with the Undertaxed Payments Rule (UTPR) acting as a backstop. As the Ultimate Parent Entity of the Group is subject to the IIR, the UTPR is not expected to apply. Certain jurisdictions in which the Group operates have also implemented, or announced the implementation of, a Qualified Domestic Minimum Top-up Tax (QDMTT). Where EDP Integrated Annual Report 2025 Financial Statements and Notes Index 334
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applicable, a qualifying QDMTT is expected to eliminate any residual top-up tax otherwise arising under the IIR. T h e E D P G r o u p h a s a s s e s s e d t h e a p p l i c a t i o n o f t h e O E C D t r a n s i t i o n a l C o u n t r y - b y - C o u n t r y R e p o r t i n g ( C b C R ) S a f e H a r b o u r , w h i c h p r o v i d e s r e l i e f f r o m P i l l a r 2 t o p - u p t a x i n j u r i s d i c t i o n s m e e t i n g o n e o r m o r e p r e s c r i b e d s a f e - h a r b o u r t e s t s . F o l l o w i n g t h i s a s s e s s m e n t , t h e s a f e h a r b o u r i s c o n s i d e r e d t o a p p l y t o m o s t o f t h e j u r i s d i c t i o n s i n w h i c h t h e E D P G r o u p o p e r a t e s , w i t h n o P i l l a r 2 t o p - u p t a x e x p e c t e d i n t h e s e jurisdictions during the transitional period. In the limited jurisdictions where the safe harbour is not a p p l i c a b l e , a n y P i l l a r 2 t o p - u p t a x i s n o t e x p e c t e d t o b e m a t e r i a l b a s e d o n i n f o r m a t i o n c u r r e n t l y available. The EDP Group continues to monitor developments in each jurisdiction and any changes in the application of Pillar 2 rules, including the introduction of new safe harbours or domestic top-up mechanisms. The assessment considers both enacted and substantively enacted legislation and takes into account the Group’s current operating structure. In 2025, the following countries where EDP Group operates in have also enacted IIR and DMTT: Brazil, Singapore and Malaysia. 5. Financial risk management policies The ongoing military conflicts between Russia and Ukraine (since 24 February 2022) and between Israel and Hamas (since 7 October 2023), along with persistent and, in some cases, escalating trade tensions, continue to have a significant impact on financial markets. These developments generate heightened volatility and uncertainty and weighing on the global economic outlook, while also influencing market expectations regarding monetary policy. At a time when major Central Banks remain largely in a wait and see mode, following an extended period of monetary tightening and subsequent policy adjustments – the ECB has brought policy rates to levels broadly considered close to neutral, maintaining the deposit facility rate at 2.00% and the main refinancing rate at 2.15%, reflecting confidence that inflation is converging towards its medium-term target of 2% and in United States, the Fed has also paused further policy action, with the federal funds target range at 3.50%–3.75%, as it continues to balance inflation control against downside risks to economic growth - concerns remain regarding geopolitical instability and downside risks to global growth. Against this backdrop, the Group continuously monitors the financial markets evolution and the market variables to which it has exposure, seeking to mitigate that exposure by maintaining a mix of interest rate with a high percentage of fixed rate, maintaining prudent levels of foreign exchange hedging, choosing carefully its main counterparties favouring high ratings and high levels of liquidity (cash and available credit lines). The Group has adjusted its Financial Risk Management Policies incorporating worst case scenarios sufficiently conservative, therefore adequate to the Group profile. However, given that the duration of the conflicts, the political decisions of the U.S. government and their global impacts are still unknown, the Group continues to monitor the risks, seeking to anticipate and manage possible additional impacts not currently contemplated. Exchange-rate and interest rate risk management Financial risk management The EDP Group’s business is exposed to a variety of financial risks, including the effect of changes in market prices, foreign exchange and interest rates. The Group’s exposure to financial risks arises essentially from its debt portfolio, its investments and from the volatility of commodity prices, resulting in interest and exchange rate exposures as well as commodity market price exposure. The status and evolution of the financial markets are analysed on an on-going basis in accordance with the Group’s risk management policy. The management of financial risks of EDP, S.A. and other EDP Group entities is undertaken centrally by EDP, S.A., in accordance with policies approved by the Executive Board of Directors. The Financial, the Energy Management and the Risk Management Departments identify, evaluate and submit to the Board, for approval, hedging mechanisms appropriate to each exposure. The Executive Board of Directors is responsible for the definition of general risk management principles and the establishment of exposure limits. As for the subsidiaries of EDP Energias do Brasil, the management of the financial risks inherent to the variation of interest rates, exchange rates and commodities is carried out locally, according to the rules set by EDP Energias do Brasil's Management and aligned with the principles/policies set by EDP Group for this geographical area. Exchange-rate risk management EDP Group operates in different geographies, therefore becoming exposed to exchange rate risk in US Dollar (USD), Brazilian Real (BRL), Polish Zloty (PLN), Romanian Leu (RON), Canadian Dollar (CAD), Pound Sterling (GBP), Hungarian Forint (HUF), Singapore Dollar (SGD), Japanese Yen (JPY) and other Asian currencies. Currently, these exposures result essentially from investments of EDP Group in different assets in the USA, Poland, Romania, Canada, United Kingdom, Hungary, Singapore and Japan. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 335
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The exposure to Brazilian Real results essentially from investments of EDP Group in EDP Energias do Brasil and EDP Renováveis Brasil. The majority of these investments were financed with debt contracted in the respective local currency which allows to mitigate the exchange rate risk related to these assets, and such financing is complemented, in certain cases, with derivative financial instruments to hedge exchange-rate risk on net investment. The policy implemented by the EDP Group consists of undertaking derivative financial instruments to hedge exchange rate risk with similar terms to those of the hedged asset or liability. The operations are revalued and monitored throughout their useful lives and, periodically, their effectiveness in controlling and hedging the risk that gave rise to them is assessed. Investments in the Brazilian subsidiaries, whose net assets expressed in Brazilian Real expose EDP Group to the exchange rate risk from its conversion to Euros, are monitored through analysis of the evolution of the BRL/EUR exchange rate. In the hedge relationships, the main source of ineffectiveness is the effect of the counterparties’ and the Group’s own credit risk on the fair value of the forward foreign exchange contracts and cross currency interest rate swaps, which is not reflected in the change in the fair value of the hedged cash flows attributable to the change in exchange rates. Sensitivity analysis - exchange rate Regarding the financial instruments that result in an exchange rate risk exposure, a fluctuation of 10% in the EUR/USD exchange rate, as at 31 December 2025 and 2024, would lead to an increase/(decrease) in the EDP Group results and/or equity as follows: Dec 2025 Dec 2024 Thousand Euros Profit or loss Equity Profit or loss Equity +10% -10% +10% -10% +10% -10% +10% -10% USD 11,905 -14,551 230 -281 10,157 -12,414 -10,437 12,756 This analysis assumes that all other variables, namely interest rates, remain unchanged. Interest rate risk management The aim of the interest rate risk management policies is to manage the impact on financial charges, from contracted debt, related to the exposure to interest rate risk from market fluctuations. In the floating rate financing context, the EDP Group enters, when considered appropriate, into interest rate derivative financial instruments to hedge the cash flows associated with future interest payments, which have the effect of converting floating interest rate loans into fixed interest rate loans. Long-term debt engaged at fixed rates is, when appropriate, converted into floating rate debt through interest rate derivative financial instruments designed to level them to current and expected market conditions. All the operations are undertaken on liabilities in the EDP Group’s debt portfolio and mainly involve perfect hedges, resulting in a high level of correlation between changes in fair value of the hedging instrument and changes in fair value of the interest rate risk or future cash flows. In the hedge relationships, the main source of ineffectiveness is the effect of the counterparty’s and the Group’s own credit risk on the fair value of the interest rate swaps, which is not reflected in the change in the fair value of the hedged cash flows attributable to the change in interest rates. The EDP Group has a portfolio of interest rate derivatives with maturities up to 15 years. The Group’s Financial Department undertakes sensitivity analysis of the fair value of financial instruments to interest rate fluctuations. As at 31 December 2025, after the hedging effect of the derivatives, 81% of the Group's liabilities were at fixed rate. The EDP Group uses forward-starting interest rate swaps to hedge against the risk of rising interest rates in future financings. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 336
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Sensitivity analysis - Interest rates (excluding the Brazilian operations) Based on the Group's debt portfolio, except for Brazil, and the related derivative financial instruments used to hedge the related interest rate risk, a 100 basis points change in the interest rates as at 31 December 2025 and 2024 would lead to an increase/(decrease) in the EDP Group results and/or equity as follows: Dec 2025 Profit or loss Equity Thousand Euros 100bp increase 100bp decrease 100bp increase 100bp decrease Cash flow effect: Hedged debt -4,000 4,000 — — Unhedged debt -6,629 6,629 — — Fair value effect: Cash flow hedging derivatives — — 24,939 -24,939 -10,629 10,629 24,939 -24,939 Dec 2024 Profit or loss Equity Thousand Euros 100bp increase 100bp decrease 100bp increase 100bp decrease Cash flow effect: Hedged debt -6,000 6,000 — — Unhedged debt -11,134 11,134 — — Fair value effect: Cash flow hedging derivatives — — 32,763 -32,763 -17,134 17,134 32,763 -32,763 This analysis assumes that all other variables, namely exchange rates, remain unchanged. Brazil - Exchange and interest rate risk management Stress tests and sensitivity analysis are carried out for purposes of risk management in the Brazilian subsidiaries. Through these two tools, the financial impact in different market scenarios is monitored. For sensitivity analysis, the exposure of portfolio of operations is evaluated through 25% and 50% changes in the main risk factors, currency and interest rates, and the scenario with the highest probability of occurrence is presented (25%). The stress test is performed on the fair value of the operations and uses as premise the interest rate curve projections of the Brazilian basic macroeconomic scenario. Brazil - Sensitivity analysis - exchange rate One Brazilian subsidiary is mainly exposed to the USD/BRL exchange rate risk arising from USD debt, for which the exposure is completely offset by Cross Currency Interest Rate Swaps. Brazil - Sensitivity analysis - Interest rates Based on the portfolio of operations, a 25% change in the interest rates, to which the Brazilian subsidiaries are exposed to, would have an impact to EDP Energias do Brasil Group in the following amounts: Dec 2025 Dec 2024 Thousand Euros + 25% - 25% + 25% - 25% Financial instruments - assets 15,176 -15,233 12,268 -12,322 Financial instruments - liabilities -219,573 219,809 -95,581 96,553 Derivative financial instruments -6,146 7,479 -14,022 16,153 -210,543 212,055 -97,335 100,384 Counterparty credit risk management EDP Group’s policy in terms of counterparty risk on financial transactions (see note 2 e)) is managed through an analysis of the technical capacity, competitiveness, credit rating and exposure to each counterparty, avoiding significant concentrations of credit risk. Counterparties in derivative financial instruments are institutions with high credit rating so the risk of counterparty default is not considered to EDP Integrated Annual Report 2025 Financial Statements and Notes Index 337
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be significant. Therefore, guarantees and other collaterals are not typically required for these transactions. EDP Group has documented its financial operations in accordance with international standards. Derivative financial instruments are mainly contracted under ISDA Master Agreements. The amount receivable from customers is mainly generated by operations in Portugal, Spain and Brazil, with a diversified customer base, both geographically and in terms of segments (business clients, private and public sector) and size (Supply companies, Business to Business (B2B) and Business to Consumer (B2C)). EDP Group is present in several countries and continents, structured in 4 regional hubs: Europe, Asia-Pacific, North America and South America. It has more than 8.8 million customers in the electricity and gas sectors, and usually the contractual relationship with the counterparty tends to be long-lasting. The maximum exposure to customer credit risk by counterparty type is detailed as follows: Thousand Euros Dec 2025 Dec 2024 Corporate and private sector: Supply companies 193,429 195,286 B2B 302,401 266,111 B2C 275,413 431,302 Other 243,536 232,680 1,014,779 1,125,379 Public sector: Debt with payment agreement 667 94 Debt without payment agreement 39,744 42,699 40,411 42,793 1,055,190 1,168,172 Trade receivables by geographical market for Group EDP, is as follows: Dec 2025 Thousand Euros Portugal Spain Brazil USA Other Group Corporate and private sector 422,048 96,511 353,726 33,228 109,266 1,014,779 Public sector 23,739 697 15,597 — 378 40,411 445,787 97,208 369,323 33,228 109,644 1,055,190 Dec 2024 Thousand Euros Portugal Spain Brazil USA Other Group Corporate and private sector 602,806 51,037 332,985 33,514 105,037 1,125,379 Public sector 26,992 1,854 13,322 — 625 42,793 629,798 52,891 346,307 33,514 105,662 1,168,172 The amounts receivable from supply companies are concentrated mainly in Portugal, Brazil and EDP Renováveis Group, as follows: • In Portugal, these counterparties present a significantly reduced days sales outstanding, about 20 days, and these entities are subject to the sector regulation that establishes collaterals to reduce credit risk. The collateral provided is updated based on the average of the last quarter monthly sales, which reinforces a low risk profile; • In Brazil, it refers mainly to: (i) the amounts from sale of electricity to wholesale dealers and supply companies, (ii) accounts receivable relating to energy traded in the Electric Energy Trading Chamber - CCEE; and (iii) charges for the electricity network access; • In EDPR EU (Europe) and EDPR SA (South America) platforms, main customers are utilities and regulated entities in the different countries. Credit risk is not significant due to the limited average collection period for customer balances and the quality of its debtors. Additional counter-party risk comes from the countries with renewables incentives, which is usually treated as regulatory risk; • In EDPR NA (North America) platform, main customers are regulated utility companies and global commercial and industrial offtakers. As it occurs in Europe, credit risk is not significant due to the EDP Integrated Annual Report 2025 Financial Statements and Notes Index 338
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limited average collection period for customer balances and the quality of the debtors. However, the exposure due to the mark-to-market of long term contracts may be significant; and • In EDPR APAC (Asia-Pacific) platform, the Group’s main customers are Distributed Generation offtakers and regulated entities in the different markets, namely in Singapore and Vietnam. As it occurs in the other platforms, credit risk from trade receivables is not significant due to same reasons. However, counter-party risk comes from countries with renewables incentives through regulated tariffs, which is usually treated as regulatory risk. Exposure in all markets EDPR operates is managed by a detailed assessment of the counter-party before signing any long term agreement and by a requirement of collaterals when financial soundness of the counterparty deteriorates. Regarding the remaining receivables from companies and individual customers, resulting from the current activity of EDP Group, the credit risk is essentially the result of customers defaults, whose exposure is limited to the supply made until the possible date of supply disruption. A very rigorous credit risk analysis made for new customers, the large number of customers and their diversity in terms of sectors of activity, are some of the main factors that mitigate the concentration of counterparty credit risk. Amounts receivable from public sector customers include amounts receivable from renegotiated debt with payment agreements, which, as the counterparty is a public entity and has already recognised the debt through payment protocols, present a lower risk. These amounts also include debt without payment agreements arising from the normal power supply activity similar to that described for the corporate and individual sector. In accordance with accounting policies - note 2 e), impairment losses are determined using the simplified approach precluded in IFRS 9, based on life time expected losses. Regarding third-party receivables generated by the Group’s day-to-day business, the credit risk arises essentially from the legal obligation to continue supplying low-voltage electricity with usual payment delays. The very rigorous credit risk analysis made for new customers, as well as the large number of customers and their diversity in terms of sectors of activity, the large volume of residential customers, as well as the execution of non-recourse factoring operations, are some of the main factors that mitigate the concentration of counterparty credit risk. EDP Group believes that the amount that best represents the Group's exposure to credit risk corresponds to the carrying amount of customers and of Contract assets related to energy sales net of the impairment losses recognised. The Group believes that the credit quality of these receivables is adequate and that there are no significant impairment losses to be recognized. As at 31 December 2025, in accordance with the methodology for determining impairment losses on amounts receivable from the electric sector, no impairment loss has been booked. The risk levels for amounts receivable from the electric sector have been considered to be the same as the country risk levels for Brazil, Portugal and Spain, which have high credit ratings. The maximum exposure to credit risk of Contract assets related to energy sales and Amounts receivable from the electric sector is as follows: Thousand Euros Dec 2025 Dec 2024 Contract assets related to energy sales: Contract assets receivable from energy sales contracts 1,291,372 1,425,415 1,291,372 1,425,415 Amounts receivable from the electric sector: Amounts receivable from tariff adjustments - Electricity (see note 26) 127,346 22,931 Amounts receivable relating to CMEC (see note 26) 419,854 506,398 Amounts receivable from concessions - IFRIC 12 (see note 26) 1,840,594 1,601,072 2,387,794 2,130,401 3,679,166 3,555,816 Liquidity risk management The EDP Group undertakes management of liquidity risk through the engagement and maintenance of credit lines and financing facilities, with a firm underwriting commitment with international reliable financial institutions, as well as term deposits, allowing immediate access to funds. These credit lines are used to complement and backup national and international commercial paper programmes, allowing the EDP Group’s short-term financing sources to be diversified (see note 34). Liquidity risk is tested on a recurring basis, taking into account the need to ensure sufficient headroom in the event of movements in financial markets, increases in costs due to trade tensions, or other possible business- related developments. Further more, considering the military conflicts, the Group assessed the potential EDP Integrated Annual Report 2025 Financial Statements and Notes Index 339
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impacts on additional liquidity needs, having concluded that the current Liquidity Risk Management Policy remains adequate. The table below shows the contractual undiscounted cash flows and the estimated interests due, computed using the rates available at 31 December 2025: Thousand Euros Dec 2026 Dec 2027 Dec 2028 Dec 2029 Dec 2030 Following years Total Bank loans 521,714 303,821 863,297 526,260 144,619 656,300 3,016,011 Bond loans 2,451,368 1,661,081 1,915,417 2,132,249 1,650,682 2,566,855 12,377,652 Hybrid bond 120,232 — — — — 6,001,200 6,121,432 Commercial paper 5,527 — — 95,745 308,511 — 409,783 Other loans 2,301 — — — — 11,102 13,403 Interest payments (i) 515,929 813,369 695,319 554,800 470,649 637,887 3,687,953 3,617,071 2,778,271 3,474,033 3,309,054 2,574,461 9,873,344 25,626,234 The table below shows the contractual undiscounted cash flows and the estimated interests due, computed using the rates available at 31 December 2024: Thousand Euros Dec 2025 Dec 2026 Dec 2027 Dec 2028 Dec 2029 Following years Total Bank loans 535,822 81,148 141,127 907,349 531,359 598,693 2,795,498 Bond loans 1,883,384 2,309,317 1,708,046 1,837,384 1,947,272 2,522,005 12,207,408 Hybrid bond 99,382 — — — — 5,500,000 5,599,382 Commercial paper 710,870 — — — 108,288 348,927 1,168,085 Other loans 4,072 100 — — — 17,543 21,715 Interest payments (i) 461,374 638,499 569,104 467,724 329,923 674,748 3,141,372 3,694,904 3,029,064 2,418,277 3,212,457 2,916,842 9,661,916 24,933,460 (i) The coupons of the hybrid bonds were included taking into consideration the earliest possible call date. Energy market risk management Energy market risk management (excluding the Brazilian operations) Energy market risk management is done through the Global Energy Management platform (GEM). GEM acts as an interface between the Renewable generation platform and the Clients platform, ensuring access to energy markets as a way of optimizing the group's risk positions across different geographies, being the preferred interlocutor in the energy markets. Managing the merchant energy as single portfolio seeks to capture the benefits resulting from the integrated management of the diversified portfolio, achieving an aggregate view of market risk, maximizing knowledge and operation synergies in the market. GEM's main functions are to optimize and manage the risks associated with the Group's position, resulting from the equilibrium between the production of its traditional and renewable assets and the needs of clients, by using short and long term, physical and financial energy markets. The portfolio is managed through the engagement of operations with financial and physical settlement on the forward/future energy markets. The objective of these operations is to reduce volatility of the financial impact resulting from the managed positions and to benefit from arbitration or positioning within the trading limits approved by the Executive Board of Directors. The activity is therefore subject to a series of variables which are identified and classified based on their common uncertainty characteristics (or risk). Such risks include market price evolution, volume, and shape risk as well as credit risk of the counterparties. The financial instruments traded mainly include energy commodities swaps and futures, for which, in the hedge relationships, the main source of ineffectiveness are: (i) the effect of the counterparty’s and the Group’s own credit risk on the fair value of the financial derivatives, which is not reflected in the change in the fair value of the hedged cash flows attributable to the change in market prices and (ii) the timing of the hedged transactions, that may differ from the settlement of the hedging instrument. Monitoring the risks includes their quantification in terms of positions at risk which can be adjusted through market operations. This quantification is made by using specific models that value positions to determine the maximum loss that can be incurred, with a given probability and a determined time frame. Risks are managed in accordance with the strategies defined by the Executive Board of Directors, which are subject to a periodic review based on the evolution of the operations, to change the profile of the positions and adjust them to the established management objectives. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 340
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Risks are monitored by means of a series of actions involving daily monitoring of different risk indicators, of the operations grouped in the systems and the prudence limits defined by management area and risk component, as well as regular backtesting and supplementary validation of the models and assumptions used. This monitoring not only ensures the effectiveness of the strategies implemented, but also provides elements to enable initiatives to be taken to correct them, if necessary. The Group considers that most important risk indicator is the Margin@Risk metric, which is a parametric calculation of the Value@Risk that gives visibility on individual risk elements of the Portfolio and different timeframe granularities but at the same time it provides the aggregated overall metric that considers diversification effect. The distribution by business segments is as follows: Margin@Risk distribution for next 24 months by business segment Thousand Euros Dec 2025 Dec 2024 Business Portfolio Electricity /Gas Trading 3,000 1,300 Electricity Hedging 382,174 445,809 Gas Hedging 25,509 92,440 Diversification effect -66,107 -103,792 344,576 435,757 Regarding credit risk, it is noteworthy that derivative financial instruments are traded both in market exchanges and through bilateral contracts (Over-the-counter – OTC). As per futures (forward derivatives traded in centralized market exchanges), given the requirements for the trading entities, namely margin deposits as collateral, credit risk is mostly mitigated and therefore excluded from exposure detailed below. As per derivative financial instruments contracted OTC, the quantification of exposure considers the amount and type of transaction (e.g. swap or forward), the rating of the counterparty risk that depends on the probability of default and the expected value of credit to recover, which varies depending on the guarantees received or the existence of netting agreements. The EDP Group's exposure to credit risk rating is as follows: Dec 2025 Dec 2024 Credit risk rating (S&P) A+ to A- 27.18 % 2.04 % BBB+ to BBB- 39.15 % 51.99 % No rating assigned 33.67 % 45.97 % 100.00 % 100.00 % Brazil - Energy market risk management Arising from the energy trading activity in Brazil, EDP Trading Comercialização e Serviços de Energia, S.A. and EDP Smart Energia Lda. are exposed to market price risk associated with future commitments, resulting from bilateral contracts for the purchase and sale of energy. At reporting date, the result of future commitment contracts is determined as the differential, for each maturity term, between the prices of the bilateral contracts for the purchase and sale of energy and their mark-to-market valuation using forward price curves. The result of future commitment contracts presents volatility associated with energy price fluctuation, generating market price risk. The management of market price risk is carried out through the determination and daily monitoring of the risk, respecting the limits approved by the Management of EDP Brazil and framed within the Risk Management Policy of the EDP Group, for the purchase and sale of energy using a methodology established in the Energy Risk Policy. The methodology adopted is a VaR (Value@Risk) with 95% confidence that considers a forward curve of market prices, the exposure of the portfolio (difference between purchase and sell) and the volatility and liquidity observed in the free market for each period. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 341
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For sensitivity analysis, the exposure of portfolio of operations is evaluated through 25% and 50% changes in the forward curve of market energy prices. The table below shows the scenario with the highest probability of occurrence (25%). Dec 2025 Dec 2024 Thousand Euros + 25% - 25% + 25% - 25% Differences Settlement Price - "PLD" 1,761 -1,761 15,065 -15,066 Capital management EDP is not an entity subject to regulation in terms of capital or solvency ratios. Therefore, capital management is carried out within the financial risk management process of the entity. Additionally, management describes this aspect of its strategic objectives, policies and processes to manage risks, including the financial risks, in the chapters of the Integrated Annual Report: Management Statement - 03. Strategic Approach 3.2 Strategy: Distinctive and Resilient Portfolio; and 3.3 Risk management: 3.3.2 Risk appetite - Financial; 3.3.3 Risk outlook - Financial. Corporate Governance & Remuneration - 01. Corporate Governance Report - C. Internal Organization - III. Internal Control and Risk Management 53 Identification of the main types of risks to which the company is exposed in the course of its business - Financial Risks. The Group’s goal in managing capital is to safeguard the Group’s capacity to continue operating as a going concern, grow steadily to meet established objectives and maintain an optimum capital structure to reduce equity cost. In conformity with other groups operating in this sector, the Group controls its financing structure based on several control mechanisms and ratios. 6. Consolidation perimeter During the year of 2025, the following changes occurred in the EDP Group consolidation perimeter: Companies acquired: The following acquisitions were classified as asset purchases, out of scope of IFRS 3 – Business Combinations, due to the substance of these transactions, the type of assets acquired and the very early stage of the projects: EDP Renewables Polska, Sp. z o.o. EDP Renewables Polska Wind 7, Sp. z o.o. 100 % Wind Farm Paslek, Sp. z o.o. 100 % EDP Renewables Polska Wind 8, Sp. z o.o. 100 % CSH Renewables Sp. z o.o. 100 % EDP Renewables Italia Holding, S.R.L. Solar Banzi, S.r.l. 100 % Winderg San Martino S.r.l. 60 % Sunseap Australia Holdings Pte. Ltd. Punchs Creek Renewable Holding Pty Ltd (including 3 subsidiaries) 100 % R.Wind, Sp. z o.o. W A R D A R A K s p ó ł k a z o g r a n i c z o n ą o d p o w i e d z i a l n o ś c i ą 100 % EDP Renewables Europe, S.L.U. EDPR Windpark Uelzen-Suderburg GmbH 100 % EDPR WP Siehdichum-Fuenfeichen GmbH 100 % WP Vorwald GmbH 75 % Black Dubb Wind Farm Limited 100 % EDPR France Holding, S.A.S. STOCK8 100 % Sunseap Assets (Australia) Pty. Ltd. Punch’s Creek Renewable Energy Pty. Ltd. 100 % 4 companies in North America 100 % Acquiring company Acquired company Acquired % Additionally, the following companies were acquired in the scope of IFRS 3 – Business Combinations: • EDP Smart Serviços, S.A. acquired 100% of Cassilândia I Geração Distribuída SPE Ltda., Iporã I Geração Distribuída SPE Ltda., Brumado I, II e III Geração Distribuída SPE Ltda., Rondon I, II e III EDP Integrated Annual Report 2025 Financial Statements and Notes Index 342
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Geração Distribuída SPE Ltda., Campo Mourão I, II e III Geração Distribuída SPE Ltda., Campo Grande I Geração Distribuída SPE Ltda., Barra do Choça IV, V e VI Geração Distribuída SPE Ltda. e Pontes Lacerda Geração Distribuída SPE Ltda.; and • EDP Renewables North America LLC acquired shares of Blue Canyon Windpower LLC, owning a 75% stake in the company. Sale of companies / investments: Sale of companies without loss of control 23 companies in North America 49 % 100 % (10) Companies sold EDP Renewables Europe, S.L.U. Szabadsolar, Kft. 100 % 100 % (1) Moorshield Wind Farm Limited 100 % 100 % (1) Fravezac, S.R.L. 100 % 100 % (1) Energiaki Arvanikou M.A.E. 100 % 100 % (7) Xironomi M.A.E. EDPR Hellas 1 M.A.E. Aioliko Parko Fthiotidas Erimia A.E. Aioliki Oitis Energiaki A.E. EDP Energias do Brasil, S.A. EDP Transmissão Aliança SC, S.A. 90 % 90 % (2) Porto do Pecém Geração de Energia, S.A. 20 % 20 % (4) Companhia Energética do Jari - CEJA 50 % 50 % (5) Empresa de Energia Cachoeira Caldeirão, S.A. 50 % 50 % EDP Renovables España, S.L.U. Site Sunwind Energy SLU 100 % 100 % (3) Rocio Hive, S.L. 100 % 100 % (8) Palma Hive, S.L.U. Pedregal Hive, S.L.U. Renovables Canopus, S.L. Renovables Lerna, S.L. (including 1 subsidiary) Sunseap International Pte. Ltd. Cenergi Sunseap Energy Solutions Sdn. Bhd. 40 % 40 % (1) Sunseap Energy (Cambodia) Co., Ltd. 49 % 49 % (1) Thai-Sunseap Co., Ltd. (including 2 subsidiaries) 67 % 67 % (1) Entity holding the stake Company / investment sold Sold % Previous % Obs. EDP Renewables (Shanghai) Co., Ltd. Xunmai (Dalian) New Energy Co., Ltd. 100 % 100 % (1) Green Corridor Indonesia Pte. Ltd. PT Green Corridor Indonesia 100 % 100 % (1) Sunseap Group Pte. Ltd. EDPR Interconnection Holdings Pte. Ltd. (including 2 subsidiaries) 100 % 100 % (1) Sunseap Batam Pte. Ltd. Green Corridor Indonesia Pte. Ltd. 100 % 100 % (1) EDPR GenCo Pte. Ltd. PT EDPR Indonesia Genco 100 % 100 % (1) EDP Ventures, S.A. EnergyWorx International, B.V. 40.25 % 40.25 % (1) Sunseap Energy (Malaysia) Sdn. Bhd. RL Sunseap Energy Sdn. Bhd. 49 % 49 % (1) EDPR Sunseap Korea Holdings Pte. Ltd. Gumisan Wind Power Co., Ltd. 100 % 100 % (1) Angang Wind Power Corporation 100 % 100 % (1) EDP Renováveis, S.A. OMA Haedori Co., Ltd. 75 % 75 % (1) EDP Renewables Belgium, S.A. 100 % 100 % (6) EDPR France Holding, S.A.S. Matisse France S.A.S. 100 % 100 % (6) EDP Clientes, S.A. Gestión Calor, S.L.U. 100 % 100 % (1) Fundo EDP CleanTech FCR WPVT, S.A. 33.33 % 33.33 % (1) Vertequip, Equipamentos e Trabalhos Verticais, Lda 14.71 % 14.71 % (1) EDP Ventures, S.A. 14.83 % 14.83 % EDP Renewables Italia Holding, S.R.L. Solar Italy I, S.r.l. 100.00 % 100.00 % (9) Solar Italy II, S.r.l. Solar Italy IV, S.r.l. Solar Italy XXIII, S.r.l. EDPR Boccadoro, S.r.l. Entity holding the stake Company / investment sold Sold % Previous % Obs. (1) Sale with no significant impacts in the consolidated financial statements; (2) Sale occurred in the second quarter for a total amount of 96,621 thousand Euros (605,920 thousand Brazilian Real) and generated a total loss (including the impact of negative foreign currency reserves) of 3,883 thousand Euros (see note 11); (3) Sale occurred in the second quarter for a total amount of 81,008 thousand Euros, generating a total gain of 11,998 thousand Euros (see note 8); EDP Integrated Annual Report 2025 Financial Statements and Notes Index 343
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(4) Sale occurred in the third quarter for a total amount of 24,653 thousand Euros (155,747 thousand Brazilian Real) and generated a total gain (including the impact of positive foreign currency reserves) of 5,182 thousand Euros (see note 17); (5) Sale occurred in the third quarter for a total amount of 179,145 thousand Euros (1,132 thousand Brazilian Real) and generated a total gain (including the impact of positive foreign currency reserves) of 49,366 thousand Euros (see note 17); (6) Sale occurred in the third quarter for a total amount of 189,654 thousand Euros, generating a total gain of 46,651 thousand Euros (see note 8); (7) Sale occurred in the fourth quarter for a total amount of 60,601 thousand Euros, generating a total gain of 33,763 thousand Euros (see note 8); (8) Sale occurred in the fourth quarter for a total amount of 101,282 thousand Euros, generating a total loss of 14,747 thousand Euros (see note 11); (9) Sale occurred in the fourth quarter for an amount of 95,641 thousand Euros. The transaction generated a net gain of 22,586 thousand Euros (see note 8); and (10) Sale of a 49% of the stake in a company in North America, and as a result, indirect sale of 49% of the stake held in 22 companies in North America, for a total amount of 642 million Euros. Companies liquidated: Entity holding the stake Entity holding the stake Previous % EDP Renewables (Shanghai) Co., Ltd. Xingbei New Energy (Sihong) Co., Ltd. 100 % Jingmen Xingsheng New Energy Co., Ltd. 100 % Sunseap International Pte. Ltd. Sunseap Solar Cambodia Co., Ltd. 100 % EDP Comercial - Comercialização de Energia, S.A. EDP Mediadora, S.A. 100 % Kronos Solar Projects GmbH KS NL20, B.V. 100 % KS NL29, B.V. KS NL30, B.V. KS NL31, B.V. KS NL37, B.V. KS NL44, B.V. KS NL45, B.V. KS NL47, B.V. KS NL49, B.V. Rongcheng Xingyi New Energy Technology Co., Ltd. Fangxian Tianhang New Energy Co., Ltd. 100 % EDP Renovables España, S.L.U. Energia Geoide VIII, S.L. 100 % EDP Renewables Europe, S.L.U. Energiaki Arvanikou E.P.E. 100 % EDPR Hellas 2 M.A.E. 100 % 5 companies in North America 100 % EDP Integrated Annual Report 2025 Financial Statements and Notes Index 344
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Companies merged: Acquiring company Merged company Previous % Kronos Solar Projects France UG Fransol 07, S.A.S. 100 % Fransol 17, S.A.S. Fransol 22, S.A.S. Fransol 23, S.A.S. Fransol 25, S.A.S. Fransol 31, S.A.S. Fransol 33, S.A.S. Fransol 38, S.A.S. Fransol 41, S.A.S. Fransol 42, S.A.S. Fransol 43, S.A.S. Fransol 50, S.A.S. Fransol 51, S.A.S. Fransol 57, S.A.S. Fransol 58, S.A.S. Fransol 60, S.A.S. Fransol 62, S.A.S. Fransol 64, S.A.S. Fransol 68, S.A.S. EDP Transmissão Goiás S.A. PCH Santa Leopoldina S.A. 100 % EDP Renewables Europe, S.L.U. ACE Lux, S.à r.l. 100 %ACE Italy, S.à r.l. ACE Poland, S.à r.l. EDP Energia Polska Zielona-Energia.com 100 % Companies incorporated: Company Company EDPR Belgium Energie, S.R.L. Matisse France S.A.S. (carve-out) Desarrollos Renovables Ceres S.L. EDP Smart SPE 14 to 16 Ltda. (3 companies) Desarrollos Renovables Haumea, S.L. Four Crosses Solar Limited EDP Malaysia Business Services Sdn. Bhd Hunmanby Solar Limited EDP Renewables Greece A.E. (carve-out) KSD 71 to 90 UG (20 companies) Energiaki Arvanikou M.A.E. (carve-out) EDP Renewables Hellas 2 M.A.E. (carve-out) Xironomi M.A.E. (carve-out) Punchs Creek FinCo Pty Ltd Wind Energy Levante S.r.l. Cairds Hill Wind Farm Limited Wind Energy Maestrale S.r.l. Monte di Eboli 39 companies in North America Other changes: • On 3 April 2025, the Annual General Shareholders’s Meeting of EDP Renováveis S.A. approved for 2024 profits distribution through a scrip dividend to be executed as a share capital increase, through the issuance of new ordinary shares, with a par value of 5 Euros, without share premium. On 12 May 2025, EDP Renováveis S.A. capital increase has been completed, through the incorporation of reserves, for a nominal amount of 55,886,225 Euros and through the issuance of 11,177,245 ordinary shares of the Company with a par value of 5 Euros each, having the scrip dividend been executed by 96.7% of the Shareholders. EDP S.A., as per the intention communicated on 26 February 2025, opted to receive EDPR shares under this Programme, increasing its stake to 71.32% and holding 749,615,485 shares in EDP Renováveis. The impact of this operation, on the company basis accounts was an increase of 62 million Euros in the caption “Investments in subsidiaries”. • EDPR NA sold a 49% equity stake of class B shares in a portfolio consisting of two operating solar projects and one battery storage system in the US. Acquisition of 15% the remaining shares of EDPR NA Distributed Generation LLC, increasing its participation to a 100% stake in the company and its subsidiaries. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 345
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These operations and the sale without loss of control of companies in North America generated a negative impact of 18 million Euros in Reserves (see Condensed Consolidated Statement of Changes in Equity in the caption Changes resulting from acquisitions/sales, equity increases/decreases and other) and a positive impact of 766 million Euros in Non-controlling Interest (see note 33). The companies included in the consolidation perimeter of EDP Group as at 31 December 2025 are disclosed in Annex I. 7. Revenues and cost of Energy Sales and Services and Other Revenues from energy sales and services and other are as follows: Group Company Thousand Euros Dec 2025 Dec 2024 Dec 2025 Dec 2024 Energy and access 13,847,573 13,258,841 — — Revenue from assets assigned to concessions 1,059,004 957,308 — — Other 700,416 749,613 326,830 297,500 15,606,993 14,965,762 326,830 297,500 Revenues from energy sales and services and other, by geographical market, for the Group, are as follows: Dec 2025 Thousand Euros Portugal Spain Brazil USA Other Group Energy and access 7,430,428 2,344,274 2,437,359 926,260 709,252 13,847,573 Revenue from assets assigned to concessions 349,712 — 709,292 — — 1,059,004 Other 412,166 62,141 143,018 46,159 36,932 700,416 8,192,306 2,406,415 3,289,669 972,419 746,184 15,606,993 Dec 2024 Thousand Euros Portugal Spain Brazil USA Other Group Energy and access 7,242,986 2,022,911 2,339,321 783,481 870,142 13,258,841 Revenue from assets assigned to concessions 367,528 — 589,780 — — 957,308 Other 364,490 179,101 146,280 30,788 28,954 749,613 7,975,004 2,202,012 3,075,381 814,269 899,096 14,965,762 The caption Energy and access in Portugal, on a consolidated basis, includes a net revenue of 651,966 thousand Euros (revenue in 31 December 2024: 689,956 thousand Euros) regarding tariff adjustments of the period (see note 26). This caption also includes, in Brazil, a net revenue of 47,997 thousand Euros (31 December 2024: net cost of 135,252 thousand Euros) related to recognition of tariff adjustments for the period (see note 38). Additionally, the caption Energy and access includes, on a consolidated basis, a negative amount of 8,964 thousand Euros (31 December 2024: positive amount of 29,241 thousand Euros) related to the contractual stability compensation (CMEC) as a result of the power purchase agreements (PPA) termination, including an income of 4,750 thousand Euros related to the CMEC final adjustment (31 December 2024: income of 20,709 thousand Euros), net from the recognised provision due to the final adjustment official approval. The caption Others includes, on a company basis, essentially the services rendered associated with consulting, management services, technology and information systems. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 346
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The breakdown of Revenues from energy sales and services and other by segment, are as follows (see note 50 - Operating Segments): Dec 2025 Reported Operating Segments Other Segments Group Thousand Euros Renewables, Clients & EM Networks Total Energy and access 9,862,892 1,744,699 11,607,591 2,239,982 13,847,573 Revenue from assets assigned to concessions 42 1,058,962 1,059,004 — 1,059,004 Other 565,061 103,154 668,215 32,201 700,416 10,427,995 2,906,815 13,334,810 2,272,183 15,606,993 Dec 2024 Reported Operating Segments Other Segments Group Thousand Euros Renewables, Clients & EM Networks Total Energy and access 8,921,576 2,282,620 11,204,196 2,054,645 13,258,841 Revenue from assets assigned to concessions -486 957,794 957,308 — 957,308 Other 619,411 99,000 718,411 31,202 749,613 9,540,501 3,339,414 12,879,915 2,085,847 14,965,762 The segment "Renewables, Clients & Energy Management" includes sales of renewable energy, hydro and wind, carried out by EDP GEM Portugal, S.A. Revenues from energy sales and services and other by segment are considered globally as "overtime" and not as "at a point in time". Cost of energy sales and other are as follows: Group Thousand Euros Dec 2025 Dec 2024 Cost of energy 6,849,356 6,324,896 Expenditure with assets assigned to concessions 838,472 727,086 Changes in inventories and cost of raw materials and consumables used Fuel, steam and ashes 23,253 24,074 CO2 Licenses 612,797 436,087 Gas and other costs 343,422 580,140 979,472 1,040,301 8,667,300 8,092,283 Under the terms of concession contracts of EDP Group to which IFRIC 12 is applicable, the construction activities are outsourced to external specialised entities. The revenue and the expenditure with the acquisition of these assets are as follows: Group Thousand Euros Dec 2025 Dec 2024 Revenue from assets assigned to concessions 1,059,004 957,308 Expenditure with assets assigned to concessions Subcontracts and other materials -764,241 -641,959 Personnel costs capitalised (see note 10) -71,141 -77,096 Capitalised borrowing costs (see note 13) -3,090 -8,031 -838,472 -727,086 Revenue from assets assigned to concessions include 596,753 thousand Euros (31 December 2024: 625,332 thousand Euros) relative to electricity distribution concessions in Portugal and in Brazil EDP Integrated Annual Report 2025 Financial Statements and Notes Index 347
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resulting from the application of the mixed model. Additionally, it also includes the revenue related to the asset to be received by EDP Group under the transmission concessions in Brazil (See note 26). The main variations on the captions Revenues and cost of Energy Sales and Services and Other are described in the Integrated Annual Report, Management Statement, 04 Performance mainly in 4.1 - Financial and operational performance, and result, mainly, from higher capacity additions in renewables generation. 8. Other income Other income, for the Group, are as follows: Group Thousand Euros Dec 2025 Dec 2024 Income arising from institutional partnerships (see note 37) 421,000 303,108 Gains on disposals - electricity business assets - Asset Rotation 114,999 251,589 Gains from contractual indemnities and insurance companies 69,259 47,584 Other 240,301 245,875 845,559 848,156 Income arising from institutional partnerships relates to income arising from production and investment tax credits (PTC/ITC) and accelerated tax depreciation, regarding wind farms and solar plants in North America (see note 37). As at 31 December 2025 the caption essentially includes gains resulting from the sale of a: i) solar portfolio in Spain; ii) wind portfolios in Belgium and France; iii) solar portfolio in Italy; and iv) wind portfolios in Greece (see note 6). As at 31 December 2024, the caption essentially included gains resulting from the sale of: i) one company 100% owned by EDP Energias do Brasil, S.A.; ii) two companies wholly owned by EDP Renewables Canada Ltd.; iii) five companies 100% owned in North America; iv) six companies owned by EDP Renewables Italia Holding, S.R.L; and v) three companies 100% owned by EDP Renewables Polska, Sp. z.o.o.. The caption Other includes gains arising from: i) contractual changes in equipment maintenance contracts; ii) changes in the fair value of contingent consideration related to sales transactions; and iii) the reversal of provisions for delays and damages for projects that ultimately reached their commercial operation date. 9. Supplies and services Supplies and services are as follows: Group Company Thousand Euros Dec 2025 Dec 2024 Dec 2025 Dec 2024 Travelling and Communications 59,748 61,605 5,281 4,646 Information technology 169,089 173,576 118,336 119,322 Maintenance and repairs 539,562 547,944 15,591 15,655 Commercial activity 131,761 144,697 67 55 Specialised works: - Legal and advisory fees 59,742 64,912 8,364 6,941 - Other services 78,070 87,527 6,760 5,802 Other supplies and services 40,059 36,551 72,503 54,752 1,078,031 1,116,812 226,902 207,173 Information technology and Maintenance and repairs include short-term, low-value and variable payment rents and leases, on consolidated and individual basis, in a total of 45,711 thousand Euros (31 December 2024: 46,469 thousand Euros) and 993 thousand Euros (31 December 2024: 3,429 thousand Euros), respectively. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 348
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10. Personnel costs and employee benefits Personnel costs and employee benefits are as follows: Group Company Thousand Euros Dec 2025 Dec 2024 Dec 2025 Dec 2024 Personnel costs Board of Directors remuneration 16,454 16,201 6,743 6,470 Employees' remuneration 603,774 629,488 48,942 50,209 Social charges on remuneration 144,856 149,609 13,630 13,784 Performance, assiduity and seniority bonus 120,592 115,167 18,301 15,011 Other costs 41,862 37,884 3,163 3,065 Own work capitalised: - Assigned to concessions (see note 7) -71,141 -77,096 — — - Other (see note 16) -134,887 -145,111 -8,102 -8,488 721,510 726,142 82,677 80,051 Employee benefits Pension plans costs 22,837 22,535 1,737 1,715 Medical plans costs and other benefits (see note 35) 3,712 1,212 212 87 Pension plans past service cost (Curtailment/Plan amendments) (see note 35) 11,531 15,847 — — (Curtailment/Plan amendments) (see note 35) 8,372 5,645 558 — Other 61,055 61,285 4,174 5,491 107,507 106,524 6,681 7,293 829,017 832,666 89,358 87,344 Pension plans costs include 1,243 thousand Euros (31 December 2024: 1,514 thousand Euros) related to defined benefit plans (see note 35) and 21,594 thousand Euros (31 December 2024: 21,021 thousand Euros) related with defined contribution plans. During the first semester of 2025, EDP Group distributed treasury stocks to employees (2,388,403 shares) totalling 7,767 thousand Euros, as part of the share-based variable remuneration program. The breakdown by management positions and category of professional staff is a follow: Group Company Dec 2025 Dec 2024 Dec 2025 Dec 2024 Executive Board of Directors 5 5 5 5 Senior management 359 359 57 59 Managers 1,108 1,223 52 51 Specialists 6,107 6,492 460 452 Support, Operational and Administrative Technicians 4,286 4,517 43 46 11,865 12,596 617 613 11. Other costs Other Expenses are as follows: Group Thousand Euros Dec 2025 Dec 2024 Concession rents paid to local authorities and others 327,164 319,748 Direct and indirect taxes 323,121 344,231 Donations 17,844 18,156 Write-off of tangible assets 60,876 52,993 Losses on disposals - electricity business assets - Asset Rotation 18,630 4,382 Other 173,191 126,867 920,826 866,377 The caption Concession rents paid to local authorities and others includes essentially the rents paid to the local authorities under the terms of the low tension electricity distribution concession contracts and rents paid to city councils where the power plants are located. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 349
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The caption Direct and indirect taxes include the social tariff and generation taxes. The caption "Write-off" of tangible fixed assets includes, essentially,the discontinuation of projects and the derecognition of property, plant and equipment resulting from losses of materials and equipment in Brazil, as well as the abandonment of renewable projects in Europe and North America. The caption Losses on disposals - electricity business assets - Asset Rotation includes the loss resulting from the disposal of: i) EDP Transmissão Aliança SC (Lot 21) in the amount of 3,883 thousand Euros; and ii) a solar portfolio in Spain amounting to 14,747 thousand Euros (see note 6). The caption Other includes, essentially: i) losses on the reinsurance activity; ii) losses on property, plant and equipment; iii) losses related to changes in the fair value of contingent prices; and iv) operating costs associated with compensations and availability bonuses to O&M (Operation and Maintenance) suppliers. 12. Depreciation, amortisation and impairment Depreciation, amortisation and impairment are as follows segue: Depreciation/impairment of Property, plant and equipment (see note 16) 1,261,612 1,685,198 5,936 6,198 Depreciation/impairment of Right of use asset (see note 17) 91,348 105,972 6,068 5,799 Amortisation/impairment of Intangible assets (see note 18) 608,978 593,740 26,896 25,746 Impairment of Non-Current assets held for sale (see notes 16 and 41) 40,025 — — — 2,001,963 2,384,910 38,900 37,743 Amortisation/impairment of Investment property (see note 23) 790 288 7,916 6,656 2,002,753 2,385,198 46,816 44,399 Group Company Thousand Euros Dec 2025 Dec 2024 Dec 2025 Dec 2024 Compensation of depreciation partially-funded property, plant and equipment (see note 38) -35,562 -30,097 — — Amortisation of Incremental costs of obtaining contracts with customers 24,396 15,169 — — Impairment of Goodwill (see note 19) 24,886 2,274 — — 2,016,473 2,372,544 46,816 44,399 Group Company Thousand Euros Dec 2025 Dec 2024 Dec 2025 Dec 2024 During 2025, due to the revision of market assumptions (in mainly, commodity prices and energy sales prices), the discount rates as well as the entry of renewable energy capacity, the Group carried out a review of its future estimates of value by carrying out impairment tests for some of the production assets and goodwill. The aforementioned impairment tests performed resulted primarily in the recognition of an impairment loss on distributed solar assets in Brazil amounting to 25,399 thousand Euros. In the impairment tests carried out, EDP's energy transition strategy was also considered, with a significant impact on the tests performed on the thermal generation assets (see note 48). The remaining impairment tests carried out did not lead to the recording of relevant impairment losses. In 2024, following a detailed review of the status of the wind portfolio in Colombia, it was decided not to proceed with the remaining investments required for the construction of the wind farms. Consequently, an impairment loss was recognised in respect of the entire portfolio of associated assets, amounting to 552,881 thousand Euros (see Note 4). The discount rates after taxes used reflect the best estimate of the specific risks of each cash generating unit, presenting the following variation bands: 2025 2024 Europe 4.6-8.7% 4.4 - 8.7% North America 5.6-8.0% 5.8 - 8.3% South America 6.9-12.5% 6.7 - 11.2% APAC 3.3-9.2% 2.9 - 8.8% EDP Integrated Annual Report 2025 Financial Statements and Notes Index 350
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13. Financial income and expenses Financial income and expenses, for the Group, are as follows: Group Thousand Euros Dec 2025 Dec 2024 Financial income Interest income from bank deposits and other investments 149,198 110,386 Interest from derivative financial instruments 54,765 73,557 Interest income on tariff deficit: - Portugal - Electricity (see note 26) 7,414 6,438 - Brazil - Electricity (see note 38) 2 76 Other interest income 92,026 112,697 Derivative financial instruments 68,388 213,778 Foreign exchange gains 484,665 356,033 CMEC: - Interest on the initial CMEC 12,802 16,691 - Financial effect considered in the calculation 199 6,396 Equity instruments at fair value through other comprehensive income (see note 22) 9,861 16,062 Other financial income 39,306 65,216 918,626 977,330 Group Thousand Euros Dec 2025 Dec 2024 Financial expenses Interest expense on financial debt 950,179 844,298 Debt renegotiation 44,085 17,093 Capitalised borrowing costs: - Assigned to concessions (see note 7) -3,090 -8,031 - Other (see note 16) -101,666 -183,083 Interest from derivative financial instruments 136,702 168,450 Interest expense on tariff deficit: - Portugal - Electricity (see note 26) 3,934 8,250 - Brazil - Electricity (see note 38) 10,927 13,493 Other interest expense 23,406 36,725 Derivative financial instruments 91,779 78,792 Foreign exchange losses 486,661 544,234 CMEC 208 1,099 Unwinding of discounted liabilities 166,714 140,665 Unwinding of lease liabilities (see note 39) 49,640 51,798 Net interest on the medical liabilities and other benefits (see note 35) 15,470 18,405 Net interest on the net pensions plan liability (see notee 35) -1,614 3,699 Equity instruments at fair value through other comprehensive income (see note 22) 9,617 — Other financial expenses 68,285 123,933 1,951,237 1,859,820 Financial income/(expenses) -1,032,611 -882,490 Capitalised borrowing costs includes the interest capitalised in assets under construction according to Group accounting policy (see note 2 h)). Regarding the rate applicable to borrowing costs related with tangible/intangible assets under construction (see notes 16 and 18) that is used in the determination of the amount of borrowing costs eligible for capitalisation, it varies depending on business unit, the country and currency, since EDP Group incorporates in its scope of consolidation a significant number of subsidiaries in several geographies with different currencies. Therefore, for the most representative EDP Integrated Annual Report 2025 Financial Statements and Notes Index 351
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geographies, the funding rates in use in 2025, ranged from 1.50% to 5.94% in Portugal, from 1.50% to 4.38% in Spain and from 0.81% to 8.25% in North America, depending on related assets under construction and related financing. The costs related to the Unwinding of discounted liabilities refer essentially to: (i) the unwinding of the provision for dismantling and decommissioning of production assets in the amount of 19,807 thousand Euros (31 December 2024: 20,625 thousand Euros) (see note 36); (ii) the implied financial return in institutional partnerships of 97,094 thousand Euros (31 December 2024: 83,827 thousand Euros) (see note 37); and (iii) the financial expenses related to the discount of the liability associated to the concessions of Alqueva/Pedrógão, Investco and Enerpeixe amounted to 12,989 thousand Euros (31 December 2024: 19,893 thousand Euros). The Debt renegotiation refers to the cost incurred of 35,031 thousand Euros from the early repayment of 498,800 thousand euros of the issuance called ‘€1,000,000,000 Fixed to Reset Rate Subordinated Instruments due 2083’ (see note 34); as well as the incurred cost of 9,054 thousand Euros related to the renegotiation of the terms of a bilateral commercial paper program. The remaining financial income and expense items arise from financial instruments measured at amortised cost, based on the effective interest rate method. Financial income and expenses, for the Company, are as follows: Company Thousand Euros Dec 2025 Dec 2024 Financial income Interest income from loans to subsidiaries and related parties (see note 44) 190,332 212,885 Interest from derivative financial instruments 134,991 200,463 Derivative financial instruments 195,856 275,203 Income from equity investments (see note 44) 1,015,673 905,999 Gains on the sale of financial investments 20,878 93,319 Other financial income 17,947 19,986 1,575,677 1,707,855 Company Thousand Euros Dec 2025 Dec 2024 Financial expenses Interest expense on financial debt 394,209 410,146 Debt renegotiation 35,031 — Interest from derivative financial instruments 136,915 202,885 Derivative financial instruments 194,780 273,470 Unwinding of lease liabilities 5,760 5,761 Other financial expenses 15,421 18,862 782,116 911,124 Financial income/(expenses) 793,561 796,731 The variation of financial results, at a company level, is essentially explained by the gain of 93,319 thousand Euros recognised in 2024 with the sale of EDP Ásia Consultoria Lta. and for the change on Income from equity investments (see note 44). 14. Income tax This note includes an analysis on the reconciliation between the theoretical and the effective income tax rate applicable at an individual level and at the level of the EDP Group, on a consolidated basis. In general terms, this analysis aims to quantify the impact of the income tax, recognised in the income statement, which includes both current and deferred tax. As the EDP Group prepares and discloses its financial statements in accordance with IFRS, an alignment between the accounting of income tax expense or income and the corresponding cash flow is not mandatory. Accordingly, this analysis does not represent the income tax paid or received by the EDP Group for the correspondent reporting period. The overall tax contribution borne by EDP Group (which includes comments on the contributions paid to the respective states where the Group operates), as well as other relevant information (such as EDP Group's tax footprint, specific taxation over energy sector and procedures to control and manage adverse tax exposures), are annually disclosed by EDP. The general principles concerning EDP Group's mission and tax policy are also addressed in the same report as well as on its website (www.edp.com). This document also describes the key principles with EDP Integrated Annual Report 2025 Financial Statements and Notes Index 352
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respect to the transfer pricing policy applicable to EDP Group, under which the Group's policy is to abide within the international rules, guidelines and best practices applicable in the various geographies where it operates. It should be noted that, as a multinational group, EDP Group fully complies with the annual obligation of communication and report, which results from the transposition into the Portuguese domestic Law of the disposals of Action 13 of the Base Erosion and Profit Shifting (named Country-by-Country Reporting), as a part of a set of measures adopted by OECD and G20 countries to enhance transparency for tax administrations. Furthermore, this obligation is fulfilled in Portugal by the parent company, within the deadlines foreseen by law. Main features of the tax systems of the countries in which EDP Group operates The statutory corporate income tax rates applicable in the main countries in which EDP Group operates are as follows: Dec 2025 Dec 2024 Europe: Portugal 20% - 30.5% 21% - 31.5% Spain 24% - 25% 24% - 25% Netherlands 19% - 25.8% 19% - 25.8% France 25 % 25 % Italy 24% - 28.8% 24% - 28.8% Poland 19 % 19 % Romania 16 % 16 % Greece 22 % 22 % Asia: Singapore 17 % 17 % Vietnam 20 % 20 % America: Brazil 34 % 34 % Colombia 35 % 35 % United States of America 24.91 % 24.91 % Canada 23% - 26.5% 23% - 26.5% Mexico 30 % 30 % EDP Group companies are taxed, whenever possible, on a Group consolidated basis as allowed by the tax legislation of the respective countries. As per the applicable legislation, in general terms, the corporate income tax for a fiscal year may be subject to review and reassessment by the tax authorities during a limited period of time. In Portugal, this EDP Integrated Annual Report 2025 Financial Statements and Notes Index 353
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period is 4 years, or, if tax losses or credits have been used, the number of years that such tax losses or credits may be carried forward. In Spain, the general period is 4 years, in the Netherlands and in Brazil it is 5 years and in the USA it is 3 years. In other key jurisdictions, the statute of limitation period ranges between 3 and 12 years. Tax losses generated in each year are also subject to the tax authorities' review and reassessment and may be carried forward and set off against income over a time period and limits established in each jurisdiction. In Portugal, Spain, USA, Brazil and the Netherlands, tax losses may be carried forward indefinitely. However, the deduction of tax losses in most jurisdictions where EDP Group carries out its activity is limited to a percentage of the taxable income of each period or is subject to other limitations. EDP Group companies may, in accordance with the law, benefit from certain tax benefits or incentives in specific conditions, namely the Production Tax Credit in North America, which is the dominant form of wind remuneration in this country, and represent an extra source of revenue per unit of electricity, over the first 10 years of the asset’s life. Wind and Solar facilities that qualified for the application of the Production Tax Credits prior to 1 January 2017, benefit from 100% of the credit ($25/MWh in 2020 and in 2021, being adjusted to inflation in subsequent years). The credit amount is reduced by 20% for wind or solar facilities that qualified in 2017, 40% in 2018 and 60% in 2019. Additional legislation in 2020 and 2021 extended the regime to facilities, with start of construction in 2020 or 2021, attributing 60% of the tax credit amount. The net effect of the 2022 Inflation reduction act and 2025 One Big Beautiful Bill extended the Production Tax Credit at 100% benefit for wind and solar projects going commercial operations until 2027 and allows for projects to be placed in service in later years depending on when such projects started construction. Alternatively, the EDP Group companies can, instead of the Production Tax Credit, choose to benefit from the Investment Tax Credit which avails solar, storage and wind projects to a credit based upon its capital expenditures. This credit amount equates to 30% for projects that achieved commercial operations by 2022 or later. Additionally, this credit can increase to 40% or 50% dependent on the: 1) use of domestically produced equipment and/or 2) locating of a project in an economically depressed area or an area that once had a traditional energy facility. The net effect of the 2022 Inflation reduction act and 2025 One Big Beautiful Bill extended the Investment Tax Credit for a 100% benefit for wind and solar projects going commercial operations until 2027 and allows for projects to be placed in service years later depending on when such projects started construction. Energy Storage projects qualify for the Investment Tax Credit as long as they are placed in service until 2033. Corporate income tax provision Income tax expense provision is as follows: Group Company Thousand Euros Dec 2025 Dec 2024 Dec 2025 Dec 2024 Current tax -300,128 -192,880 114,811 49,159 Deferred tax -268,929 -313,475 -60,812 -10,733 -569,057 -506,355 53,999 38,426 Reconciliation between the theoretical and the effective income tax provision The effective income tax rate is as follows: Group Company Thousand Euros Dec 2025 Dec 2024 Dec 2025 Dec 2024 Profit before tax and CESE 1,966,803 1,379,493 783,910 778,973 Income tax expense -569,057 -506,355 53,999 38,426 Effective income tax rate (%) 28.93 36.71 -6.89 -4.93 The difference between the theoretical and the effective income tax expense results from the application of the tax law provisions, in the various countries where EDP operates, in accordance with the accounting standards that are the basis for the preparation and disclosure of its financial statements, in the determination of the taxable base, as demonstrated below. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 354
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The reconciliation between the theoretical and the effective income tax expense for the Group is as follows: Thousand Euros Dec 2025 Dec 2024 Profit before income tax and CESE 1,966,803 1,379,493 Theoretical income tax rate * (%) 30.50 31.50 Theoretical income tax expense 599,875 434,540 Different tax rates (includes state surcharge) and CIT rate changes 47,287 91,396 Tax losses, tax credits and benefits -34,110 -20,464 Dividends -33,942 -11,173 Differences between accounting and fiscal provisions/depreciations 90,067 44,678 Accounting/fiscal differences on the recognition/derecognition of assets -63,700 43,060 Taxable differences attributable to non-controlling interests -13,884 -17,655 Other adjustments and changes in estimates -22,536 -58,027 Effective income tax expense as per the Consolidated Income Statement 569,057 506,355 * The average rate that best represents the distribution of the various applicable tax rates for EDP Group companies taking into account their activity. The caption Different tax rates (includes state surcharge) and CIT rate changes mainly refer to the difference between the tax rates applicable in the countries in which the EDP Group operates as compared to the nominal tax rate used as reference for the theoretical income tax expense calculation. For 2025, the caption Accounting/fiscal differences on the recognition/derecognition of assets mainly includes the effect of the permanent differences arising from the application of participation exemption regimes to the capital gains recognised in “asset rotation” transactions. Additionally, transactions carried out that were not covered, totally or in part, by such exemption regimes resulted in the recognition of an income tax expense in the amount of 23,862 thousand Euros. For 2024, the caption mainly relates to the tax treatment associated to the recognition of the impairment for the Colombian assets. The caption Taxable differences attributable to non-controlling interests include the effect inherent in the attribution of taxable income to non-controllable interests in EDPR Group in the North America, as determined by the tax legislation of that geography. The reconciliation between the theoretical and the effective income tax expense for the Company is as follows: Thousand Euros Dec 2025 Dec 2024 Profit before income tax 783,910 778,973 Nominal income tax rate (%) 20 21 Theoretical income tax expense 156,782 163,584 Tax losses, tax credits and benefits -9,739 -6,784 Dividends -203,130 -190,258 Other adjustments and changes in estimates 2,088 -4,968 Effective income tax expense as per the Company Income Statement -53,999 -38,426 15. Extraordinary contribution to the energy sector (CESE) Law 83-C/2013, of the State Budget 2014 ("Lei do Orçamento de Estado 2014"), approved by the Portuguese Government on 31 December 2013, introduced CESE, with the objective of financing mechanisms that promote the energy sector systemic sustainability, through the establishment of a fund which aims to contribute for the reduction of tariff debt and to finance social and environmental policies in the energy sector. This contribution focuses generally on the economic operators that develop the following activities: (i) generation, transmission or distribution of electricity; (ii) transportation, distribution, storage or wholesale supply of natural gas; and (iii) refining, treatment, storage, transportation, distribution and wholesale supply of crude oil and oil products. CESE is calculated based on the companies’ net assets as at 1 January, which comply, cumulatively, to: (i) property, plant and equipment; (ii) intangible assets, except industrial property elements; and (iii) financial assets assigned to concessions or licensed activities. In the case of regulated activities, CESE focuses on the value of regulated assets if it is higher than the value of those assets. The general rate is 0.85%. However, in case of natural gas combined cycle power plants with an annual utilization equivalent of installed capacity equal or higher to 1,500 hours and lower than 3,000 hours, is expected a reduced rate of 0.565%. Nevertheless, this rate could be 0.285% in case the annual utilization of installed capacity is lower than 1,500 hours. T h e C E S E s y s t e m h a s b e e n s u c c e s s i v e l y e x t e n d e d a n d i s n o w v a l i d f o r 2 0 2 4 t h r o u g h L a w n º 4 5 - A/2024 of 31 December. EDP has paid 558,205 thousand Euros relating to CESE for the years 2014 to 2022. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 355
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As at 31 December 2025, the Group booked under the caption Extraordinary contribution to the energy sector (CESE) in the Consolidated Income Statement, the amount of 45,128 thousand Euros (31 December 2024: 47,748 thousand Euros) net of an adjustment of 85 thousand Euros relating to the year 2023 concerning the Fisigen power plant. However, as it is a tax of doubtful constitutionality - with the Constitutional Court having already issued decisions to that effect regarding some operators in the electricity sector - EDP decided not to pay it and challenge its legality. We note that, with respect to investments carried out in 2024 and 2025, the State Budget for 2026 maintained the exclusion from the taxable base of assets arising from investments made under the European framework for the promotion of sustainable investment, provided that such assets are qualified as such by the Portuguese Environment Agency (APA). Additionally, assets allocated to the operation of the electricity transmission and distribution networks arising from investments made as from 1 January 2026 are now directly excluded from the taxable base of the Extraordinary Contribution on the Energy Sector (CESE). 16. Property, plant and equipment This caption is as follows, for the Group: Thousand Euros Land and natural resources Buildings and other construct. Plant and machinery Other tangible assets Assets under construct. Total Gross Amount 187,583 467,871 42,559,361 714,192 5,901,289 49,830,296 Accumulated depreciation and impairment losses — 189,555 20,197,468 558,356 855,593 21,800,972 Carrying Amount at 31 December 2024 187,583 278,316 22,361,893 155,836 5,045,696 28,029,324 Gross Amount 173,566 324,670 42,278,180 434,676 4,914,059 48,125,151 Accumulated depreciation and impairment losses — 165,983 19,934,361 325,363 914,022 21,339,729 Carrying Amount at 31 December 2025 173,566 158,687 22,343,819 109,313 4,000,037 26,785,422 Balance as at 1 January 2024 110,026 181,681 19,283,359 145,412 6,358,284 26,078,762 Additions 70,633 566 104,338 22,829 4,006,909 4,205,275 Depreciation and impairment (see note 12) — -12,090 -1,057,941 -59,529 -555,638 -1,685,198 Disposals/write-offs -690 -230 -11,764 -1,931 -17,603 -32,218 Transfers 3,318 92,423 4,492,179 20,847 -4,676,488 -67,721 Exchange difference -1,616 -13,549 406,108 771 72,367 464,081 Perimeter variations and other 5,912 29,515 -854,386 27,437 -142,135 -933,657 Balance as at 31 December 2024 187,583 278,316 22,361,893 155,836 5,045,696 28,029,324 Additions 13,647 193 215,675 20,621 2,532,174 2,782,310 Depreciation and impairment (see note 12) — -11,985 -1,217,941 -35,786 -35,925 -1,301,637 Disposals/write-offs -475 -71,031 -16,394 -8,699 -51,113 -147,712 Transfers 1,157 2,634 3,048,394 6,015 -3,070,042 -11,842 Exchange difference -10,833 -4,284 -1,428,842 -2,853 -307,044 -1,753,856 Perimeter variations and other -17,513 -35,156 -618,966 -25,821 -113,709 -811,165 Balance as at 31 December 2025 173,566 158,687 22,343,819 109,313 4,000,037 26,785,422 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 356
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This caption is as follows, for the Company: Thousand Euros Land and natural resources Buildings and other construct. Plant and machinery Other tangible assets Assets under construct. Total Gross Amount 1,113 28,853 747 97,864 12,210 140,787 Accumulated depreciation and impairment losses — 21,620 366 79,203 — 101,189 Carrying Amount at 31 December 2024 1,113 7,233 381 18,661 12,210 39,598 Gross Amount 1,113 23,841 810 96,992 9,505 132,261 Accumulated depreciation and impairment losses — 21,639 426 73,512 — 95,577 Carrying Amount at 31 December 2025 1,113 2,202 384 23,480 9,505 36,684 Balance as at 1 January 2024 1,618 2,148 429 20,364 18,482 43,041 Additions — — 11 2,250 3,965 6,226 Depreciation and impairment (see note 12) — -216 -59 -5,923 — -6,198 Disposals/write-offs -505 -73 — -457 — -1,035 Transfers — 5,374 — 2,427 -10,237 -2,436 Balance as at 31 December 2024 1,113 7,233 381 18,661 12,210 39,598 Additions — — 62 7,809 1,588 9,459 Depreciation and impairment (see note 12) — -221 -59 -5,656 — -5,936 Disposals/write-offs — — — -408 — -408 Transfers — 116 — 4,192 -4,308 — Other — -4,926 — -1,118 15 -6,029 Balance as at 31 December 2025 1,113 2,202 384 23,480 9,505 36,684 Assets under construction are as follows: Thousand Euros Dec 2025 Dec 2024 Gross amount Accumulated impairment losses Carrying amount Gross amount Accumulated impairment losses Carrying amount Wind and solar farms in North America 1,677,723 26,373 1,651,350 2,250,994 — 2,250,994 Wind and solar farms in Europe 1,116,891 83,096 1,033,795 1,514,346 82,566 1,431,780 Wind and solar farms in South America 1,284,185 795,828 488,357 1,262,245 766,872 495,373 Wind and solar farms in Southeast Asia 50,495 8,725 41,770 62,155 6,155 56,000 Conventional generation, energy management and client solutions assets 770,810 — 770,810 797,243 — 797,243 Other assets under construction 13,955 — 13,955 14,306 — 14,306 4,914,059 914,022 4,000,037 5,901,289 855,593 5,045,696 The capitalised costs for Property, plant and equipment for the period, except Land and natural resources, are as follows: Thousand Euros Dec 2025 Dec 2024 Subcontracts and other materials 2,411,975 3,612,427 Purchase price allocation 15,403 17,508 Dismantling and decommissioning costs (see note 36) 104,732 176,513 Personnel costs (see note 10) 134,887 145,111 Borrowing costs (see note 13) 101,666 183,083 2,768,663 4,134,642 Additions mainly include the investment in wind and solar farms by EDP Renováveis. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 357
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As at 31 December 2025, EDPR concluded that a portion of the assets under construction, mainly turbines and towers in North America, will not generate the expected cash flows, resulting in an impairment loss of 27,423 thousand Euros. Additionally, accumulated depreciation and impairment include impairment losses recognised on distributed solar generation assets in Brazil and those recorded in connection with the reclassification to assets held for sale (see notes 12 and 41). Transfers from assets under construction into operation refer to wind and solar farms that became operational in 2025. The movement in Exchange differences in the period results mainly from the devaluation of US Dollar against the Euro. Changes in perimeter and other in 2025 reflect the reduction resulting from the sale of a solar portfolio in Italy (240,528 thousand Euros) , of a wind portfolio in Greece (180,659 thousand Euros) , of a solar and wind portfolio in Spain (142,168 thousand Euros), and a wind portfolio in France and Belgium (135,768 thousand Euros) (see note 6). 17. Right-of-use assets This caption is as follows, for the Group: Thousand Euros Land and natural resources Buildings and other construct. Plant and machinery Other tangible assets Total Gross amount 1,148,665 277,492 177,321 17,102 1,620,580 Accumulated depreciation and impairment losses 195,664 98,703 104,600 12,305 411,272 Carrying Amount at 31 December 2024 953,001 178,789 72,721 4,797 1,209,308 Gross amount 1,048,164 332,597 157,057 37,686 1,575,504 Accumulated depreciation and impairment losses 221,906 114,068 115,703 13,767 465,444 Carrying Amount at 31 December 2025 826,258 218,529 41,354 23,919 1,110,060 Balance as at 1 January 2024 912,346 196,848 110,118 6,118 1,225,430 Additions 87,361 17,746 39 1,988 107,134 Depreciation and impairment (see note 12) -40,585 -21,220 -41,033 -3,134 -105,972 Disposals/write-offs -4,609 -2,058 -785 -51 -7,503 Transfers -6,196 — — — -6,196 Exchange difference 32,845 -2,113 4,837 -183 35,386 Perimeter variations and other -28,161 -10,414 -455 59 -38,971 Balance as at 31 December 2024 953,001 178,789 72,721 4,797 1,209,308 Additions 68,941 64,890 — 23,760 157,591 Depreciation and impairment (see note 12) -41,255 -21,239 -24,293 -4,561 -91,348 Disposals/write-offs -2,564 -904 — -70 -3,538 Exchange difference -73,602 -1,530 -6,927 -6 -82,065 Perimeter variations and other -78,263 -1,477 -147 -1 -79,888 Balance as at 31 December 2025 826,258 218,529 41,354 23,919 1,110,060 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 358
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This caption is as follows, for the Company: Thousand Euros Buildings and other construct. Other tangible assets Total Gross amount 124,921 475 125,396 Accumulated depreciation and impairment losses 30,399 258 30,657 Carrying Amount at 31 December 2024 94,522 217 94,739 Gross amount 126,795 1,404 128,199 Accumulated depreciation and impairment losses 35,947 390 36,337 Carrying Amount at 31 December 2025 90,848 1,014 91,862 Balance as at 1 January 2024 93,323 256 93,579 Additions 6,810 149 6,959 Depreciation and impairment (see note 12) -5,611 -188 -5,799 Balance as at 31 December 2024 94,522 217 94,739 Additions 2,157 1,024 3,181 Depreciation and impairment (see note 12) -5,831 -237 -6,068 Balance as at 31 December 2025 90,848 1,014 91,862 Additions include, essentially, new lease contracts registered, under IFRS 16, in Europe, North America and South America. The negative movement in Exchange differences in the period results mainly from the devaluation of US Dollar against the Euro. The decrease under the caption Perimeter variations and Other mainly reflects the adjustment of certain discount rates in North America and the impact of the disposals of the following portfolios: (i) wind assets in France and Belgium; (ii) solar assets in Spain; (iii) solar assets in Italy; and (iv) wind assets in Greece (see note 6). 18. Intangible assets This caption is as follows, for the Group: Thousand Euros Concession rights CO2 Licenses Other intangibles Intangible assets in progress Total Gross amount 12,489,210 3,420 2,839,634 223,029 15,555,293 Accumulated amortisation and impairment losses 9,738,203 — 1,160,184 — 10,898,387 Carrying Amount at 31 December 2024 2,751,007 3,420 1,679,450 223,029 4,656,906 Gross amount 13,534,490 1,496 3,089,829 281,440 16,907,255 Accumulated amortisation and impairment losses 10,111,030 — 1,378,312 — 11,489,342 Carrying Amount at 31 December 2025 3,423,460 1,496 1,711,517 281,440 5,417,913 Balance as at 1 January 2024 2,901,210 6,237 1,679,582 237,744 4,824,773 Additions 928 154,792 4,931 170,273 330,924 Amortisation and impairment (see note 12) -418,910 — -174,830 — -593,740 Disposals/write-offs -3,744 -157,609 -320 -519 -162,192 Transfers 367,543 — 147,810 -157,292 358,061 Exchange difference -94,794 — 2,591 -2,363 -94,566 Perimeter variations and other -1,226 — 19,686 -24,814 -6,354 Balance as at 31 December 2024 2,751,007 3,420 1,679,450 223,029 4,656,906 Additions 7,076 99,728 20,659 227,184 354,647 Amortisation and impairment (see note 12) -436,315 — -172,663 — -608,978 Disposals/write-offs -5,509 -101,652 -6,707 -51 -113,919 Transfers 1,088,982 — 189,036 -189,824 1,088,194 Exchange difference -16,398 — -27,456 -1,746 -45,600 Perimeter variations and other 34,617 — 29,198 22,848 86,663 Balance as at 31 December 2025 3,423,460 1,496 1,711,517 281,440 5,417,913 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 359
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This caption is as follows, for the Company: Thousand Euros Other intangibles Intangible assets in progress Total Gross amount 282,414 84,086 366,500 Accumulated amortisation and impairment losses 207,913 — 207,913 Carrying Amount at 31 December 2024 74,501 84,086 158,587 Gross amount 280,401 87,115 367,516 Accumulated amortisation and impairment losses 198,516 — 198,516 Carrying Amount at 31 December 2025 81,885 87,115 169,000 Balance as at 1 January 2024 74,883 70,987 145,870 Additions 20 38,534 38,554 Amortisation and impairment (see note 12) -25,746 — -25,746 Transfers 25,344 -25,435 -91 Balance as at 31 December 2024 74,501 84,086 158,587 Additions 2,231 35,171 37,402 Amortisation and impairment (see note 12) -26,896 — -26,896 Disposals/write-offs -1,212 — -1,212 Transfers 32,142 -32,142 — Perimeter variations and other 1,119 — 1,119 Balance as at 31 December 2025 81,885 87,115 169,000 Additions of CO2 Licenses include CO2 Licenses purchased in the market for own consumption. Disposals/Write-offs mainly include the delivery, in September 2025, of the licenses relating to 2024 consumption. Additions of Intangible assets in progress essentially include the implementation and development of information systems projects. Transfers, essentially include intangible assets assigned to concessions that became operational, as well as the impact of the extension of the electricity distribution concession of EDP Espírito Santo, signed on 16 July 2025, and valid for 30 years, until July 2055, amounting to 1,096,953 thousand Euros (see note 26). With this extension of the concession, the Amount receivable from concessions – IFRIC 12, previously presented under 'Debtors and other assets from commercial activities' (see note 26), has been reclassified to Concession rights. The movement in Exchange Differences in the period is essentially due to the devaluation of the US Dollar against the Euro. On an individual basis, Additions essentially include the implementation and development of information systems projects. The capitalised costs of the period related to construction of intangible assets are included in own work capitalised in notes 7, 10 and 13. 19. Goodwill Goodwill for the Group, resulting from the difference between the acquisition price and the fair value of the net assets acquired, at the acquisition date, is organized by segment, and is as follows: Thousand Euros Networks Renewables, Clients & EM Total Balance as at 1 January 2024 673,834 2,704,969 3,378,803 Increases — — — Decreases/Regularisations — -14,910 -14,910 Impairment (see note 12) — -2,274 -2,274 Exchange differences — 56,553 56,553 Balance as at 31 December 2024 673,834 2,744,338 3,418,172 Increases — 3,773 3,773 Decreases/Regularisations — -18,357 -18,357 Impairment (see note 12) — -24,886 -24,886 Exchange differences — -116,150 -116,150 Balance as at 31 December 2025 673,834 2,588,718 3,262,552 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 360
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The decreases result from the sale of a wind portfolio in France and Belgium (see note 6). The movement in Exchange differences in the period results mainly from the devaluation of US Dollar against the Euro. Goodwill impairment test analysis - EDP Group The recoverability of goodwill in subsidiaries is assessed annually as of 30 September, regardless of the presence of impairment indicators. The recoverable amount of the assets corresponds to the greater of their fair value less costs to sell and their value in use, calculated using valuation methodologies based on discounted cash flow techniques. These take into account market conditions, the time value of money, and business risks. Any impairment losses are recognized in the income statement for the period. EDP Group segments based on which the Group monitors its activity are as follows (see note 50): • Renewables, Clients & Energy Management - corresponds to the activity of generation of electricity from renewable sources, mainly hydro, wind and solar. This segment also includes the following activities: generation of electricity from non-renewable sources, mainly coal and gas, electricity and gas supply and related energy solutions services to clients; and energy management businesses responsible for management of purchases and sales of energy in Iberian and Brazilian markets, and also for the related hedging transactions; and • Networks - corresponds to the electricity distribution and transmission activity, including regulated energy retailers. For the purposes of these tests, the EDP Group has defined a set of assumptions to determine the recoverable amount of the main investments by each cash generating unit, being presented by aggregation in each business units after the impairment tests carried out at each subgroup/cash generating unit. Goodwill impairment test analysis - Renewables, Clients & Energy Management The future cash flows are based on the useful life of wind farms, solar, hydro and battery energy storage system assets. This projection also considers long-term energy sales contracts and long-term energy price estimates, for assets with market exposure. The main assumptions on which impairment tests are based are as follows: • Regarding the production of wind and solar energy, the “net capacity factors” used for each cash- generating unit consider: (i) the installed capacity and the forecast resulting from the studies on the occurrence of wind and solar in the long term; and (ii) that regulatory mechanisms in almost all geographies determine the production and priority of energy dispatch whenever weather conditions permit; • Regarding hydro production, the “net capacity factors” used for each cash-generating unit consider: (i) the installed capacity and the forecast for hydraulic production; and (ii) that the regulatory mechanisms in each geography; • Energy remuneration: the approved or contracted remunerations were considered in the event of long-term energy sales contracts for the total or partial useful life of the assets or remunerations determined by the regulatory framework in force in each geography. In the remaining cases, the long-term market price curves projected by the Group were used based on past experience and internal models built on the basis of external information sources; • Operating costs: the land and maintenance contracts in force were used. The other operating costs were projected consistently based on the experience acquired, on the Budget approved for the next year and taking into account internal analysis models; • Terminal value: considered between 10% and 15% of the initial investment in each wind, solar and battery energy storage system projects taking inflation into account; and • Discount rate: the discount rates used are post-tax and reflect EDP Group’s best estimate of the risks specific to each CGU (see note 12). Impairment tests were performed taking into account the regulatory changes in each country known at the end 2025. The impairment tests carried out on Goodwill resulted in the recognition of impairment losses amounting to 24,886 thousand Euros in 2025. Goodwill impairment test analysis - Networks The cash flow projection assumes the extent of the concessions related to the electricity distribution business in Brazil. In the case of the concession in Spain, it is perpetual. These cash flows are estimated EDP Integrated Annual Report 2025 Financial Statements and Notes Index 361
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considering the volume of production and expected consumption, installed capacity, the evolution forecast of the tariff and the energy purchase / sale agreements. The discount rates after taxes used are disclosed in nota 12. The main assumptions used to project cash flows are as follows: • Investment costs: the best available estimates of the investments to be made were used to ensure regular use of current assets, as well as those resulting from legislative changes; • Regarding operating costs, the projections made considered the current operating costs projected based on the historical experience acquired, in the Budget approved for the next year and taking into account internal models of analysis; • The most recent remuneration rates proposed by ANEEL and Comisión Nacional de los Mercados y la Competencia (CNMC) were considered, applying the updating mechanisms as provided for in the regulation; • The projections for the electricity distribution businesses are based on long-term estimates of the various assumptions considered in the analysis; and • The terminal value of the distribution assets corresponds to the present value of the net assets at the end of the concession (“Net Regulatory Asset Base”). Sensitivity analyzes were performed on the results of the impairment tests carried out, namely at discount rates. The results of the sensitivity analyzes carried out conclude that an increase of 50 basis points in the different discount rates, does not determine the existence of signs of additional impairment in goodwill or concession rights. 20. Investments in subsidiaries (Company basis) This caption is as follows: Company Thousand Euros Dec 2025 Dec 2024 Acquisition cost 18,035,655 17,927,636 Effect of equity method (transition to IFRS) -785,593 -785,593 Equity investments in subsidiaries 17,250,062 17,142,043 Impairment losses on equity investments in subsidiaries -225,605 -225,472 17,024,457 16,916,571 On the date of transition to IFRS, EDP, S.A. ceased to apply the equity method of accounting to its investments in its separate financial statements, having considered this method in the determination of the deemed cost at transition date. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 362
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Investments in subsidiaries are as follows: Company Dec 2025 Dec 2024 Thousand Euros Net amount Net amount Equity investments in subsidiaries: EDP Renováveis, S.A. (see note 6) 4,554,151 4,491,875 EDP Gestão de Produção de Energia, S.A. 1,723,238 1,723,238 EDP España, S.A.U. 2,105,002 2,105,002 E-Redes – Distribuição de Eletricidade, S.A. 3,950,726 3,950,726 EDP International Investments and Services, S.L. 2,365,027 2,365,027 EDP GEM Portugal, S.A. 1,012,100 1,012,100 EDP Servicios Financieros España, S.A.U. 482,695 482,695 EDP Comercial - Comercialização de Energia, S.A. 344,444 344,444 SU Eletricidade, S.A. 259,818 259,818 Other 227,256 181,646 17,024,457 16,916,571 In the context of impairment tests carried out at EDP Group, the financial investments held by EDP, S.A. in subsidiaries are reviewed, based on the higher of the value in use and the fair value less costs related to the sale. The main assumptions considered in the valuation models of the main financial holdings in Portugal of EDP, S.A. are as follows: • The discount rates used reflect the best estimate regarding the specific risks associated to each subsidiary activity within a range between 4.9% and 6.0% (2024: between 4.7% and 5.9%); • For the activities subject to regulation, the remunerations currently in force and/or approved were considered, applying the updating mechanisms as provided for in the regulation, and incorporates the expectation of renewal of the concessions currently in force and the best estimate of CAPEX and the future regulatory framework; • Fuel prices, CO2 licenses and electricity prices forecast were defined considering market expectations for future prices and the application of internal models for building price curves, taking into account the regulatory framework in force and the best expectation regarding its future evolution. Regarding fuel prices, the prices and clauses established in long-term supply contracts, including gas purchase contracts, were also considered. Production assets were valued from a portfolio management perspective, without prejudice to an individual analysis as to recoverability, based on the estimate of the evolution of the market share; • The production estimates were based on an average hydrological year over the projection period for the hydroelectric plants, the estimated evolution of demand, market share projections and current installed and under construction capacity, as well as the best estimate of the plants to be decommission in the projection period; • Additionally, other system costs are considered, such as: ISP and CO2 addition fee, CESE and other income; and • The operating costs considered were based on extrapolations from current operating costs based on the knowledge acquired in each activity. The impairment tests performed did not result in the recognition of any material impairment losses 2025. The assumptions used in the valuation models of EDP S.A.'s financial holdings in other geographies, as well as the respective sensitivity analyses are described in nota 19. 21. Investments in joint ventures and associates This caption is as follows: Group Thousand Euros Dec 2025 Dec 2024 Investments in joint ventures 1,202,197 1,329,866 Investments in associates 261,136 258,834 1,463,333 1,588,700 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 363
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As at 31 December 2025, for the Group, this caption includes goodwill in investments in joint ventures of 8,019 thousand Euros (31 December 2024: 8,019 thousand Euros) and in investments in associates of 16,412 thousand Euros (31 December 2024: 19,273 thousand Euros). The movement in Investments in joint ventures and associates, for the Group, is as follows: Group Thousand Euros Dec 2025 Dec 2024 Balance at the beginning of the period 1,588,700 1,558,117 Acquisitions/Entries — 104,704 Increases/Decreases of share capital 62,080 161,514 Disposals (see note 6) -162,749 -1,901 Share of profit for the period 105,824 -55,909 Dividends -114,278 -129,631 Exchange differences -82,706 -33,808 Cash flow hedging reserve 55,411 -199 Other 11,051 -14,187 Balance at the end of the period 1,463,333 1,588,700 The caption Increases/Decreases of share capital essentially refers to a capital increase of 59,500 thousand Euros of EDP Renováveis S.A. in OW Offshore, S.L. The amount under the caption Disposals mainly refers to the sale of the joint ventures Companhia Energética do JARI – CEJA and Empresa de Energia Cachoeira Caldeirão, S.A., as well as the associate Porto do Pecém Geração de Energia, S.A. (see note 6). The caption Joint ventures and associates in the Income Statement includes gains of 105,824 thousand Euros arising from the equity method and, the gains of 53,622 thousand Euros resulting from the aforementioned disposals (see note 6). The following table resumes the companies' financial information of joint ventures whose investment is included under the equity method in the Group consolidated accounts, as at 31 December 2025: Thousand Euros Energia São Manoel OW Offshore, S.L. Sol V Riverstart Goldfinger Vento Goldfinger Vento II Portfolio Vento XX Companies' financial information of joint ventures Non-Current Assets 524,006 5,712,487 263,723 162,894 264,653 524,393 Current Assets 61,218 431,165 9,007 1,482 6,614 9,185 Cash and cash equivalents 14,712 246,559 460 617 1 682 Total Equity 271,977 999,915 210,121 139,265 210,644 172,684 Long term Financial debt 268,619 1,477,975 — — — — Non-Current Liabilities 285,387 2,893,954 59,079 21,940 52,541 337,858 Short term Financial debt 10,657 1,716,330 55 13 110 274 Current Liabilities 27,860 2,249,783 3,530 3,171 8,082 23,036 Revenues 112,309 304,307 20,442 11,743 16,512 32,381 Property plant and equipment and intangibles amortization/ impairment -19,642 -109,055 -8,652 -9,908 -9,409 -23,293 Other financial expenses -35,289 -474,808 -2,396 -1,074 -2,696 -13,619 Income tax expense -459 -18,362 — — — — Net profit for the period 1,577 22,584 21,941 -1,941 5,778 30,845 Amounts proportionally attributed to EDP Group Net assets 90,661 449,668 40,830 63,705 94,952 56,997 Goodwill — 5,352 — — — — Dividends paid — 37,500 2,916 2,761 4,330 3,078 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 364
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Thousand Euros Portfolio Vento XIX Portfolio Vento XVII Flat Rock Windpower Sharp Hills EDPR Solar Ventures IX Other Companies' financial information of joint ventures Non-Current Assets 397,708 442,441 139,390 372,408 319,935 688,061 Current Assets 11,327 10,326 17,266 10,547 4,943 177,197 Cash and cash equivalents 242 1 15,269 6,232 -822 131,731 Total Equity 140,627 254,008 149,993 174,233 137,374 445,321 Long term Financial debt — — — 179,692 — — Non-Current Liabilities 261,832 190,307 4,147 201,293 176,998 174,183 Short term Financial debt 146 187 — 2,706 1 28,258 Current Liabilities 6,576 8,452 2,516 7,429 10,506 245,754 Revenues 25,229 34,438 24,987 31,013 14,246 405,891 Property plant and equipment and intangibles amortization/ impairment -18,519 -20,266 -13,744 -13,133 -9,028 -71,329 Other financial expenses -12,654 -7,900 -56 -15,634 -9,942 -12,549 Income tax expense — — — -1 — -8,891 Net profit for the period 19,140 34,633 -1,458 -3,760 9,737 59,033 Amounts proportionally attributed to EDP Group Net assets 44,327 66,734 81,649 45,638 27,283 139,753 Goodwill — — — — — 2,667 Dividends paid 1,611 1,527 5,680 — 170 23,079 The following table resumes the companies' financial information of joint ventures whose investment is included under the equity method in the Group consolidated accounts, as at 31 December 2024: Thousand Euros Energética JARI CEJA Goldfinger Vento II Energia São Manoel Energia Cachoeira Caldeirão Sharp Hills Sol V Riverstart Companies' financial information of joint ventures Non-Current Assets 225,570 310,102 538,109 191,997 413,459 306,359 Current Assets 26,770 2,601 45,129 17,658 43,735 9,152 Cash and cash equivalents 15,227 1,337 28,975 12,545 20,706 3 Total Equity 147,222 240,977 270,898 87,202 222,271 227,714 Long term Financial debt 45,835 — 270,710 100,983 194,087 — Non-Current Liabilities 68,346 63,370 288,012 109,285 224,532 84,566 Short term Financial debt 7,906 — 14,844 8,981 3,665 56 Current Liabilities 36,772 8,356 24,328 13,168 10,391 3,231 Revenues 60,608 19,198 80,689 31,200 31,834 30,650 Property plant and equipment and intangibles amortization/ impairment -8,967 -9,667 -20,923 -7,742 -13,107 -8,830 Other financial expenses -7,406 -2,989 -34,487 -13,788 -15,195 -2,402 Income tax expense -1,297 — 108 -96 -1 — Net profit for the period 31,557 17,746 354 792 4,710 28,305 Amounts proportionally attributed to EDP Group Net assets 94,537 108,354 90,301 43,797 50,991 44,465 Goodwill — — — — — — Dividends paid 11,776 4,195 — — — 4,151 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 365
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Thousand Euros Portfolio Vento XX Portfolio Vento XVII Goldfinger Vento OW Offshore, S.L. Portfolio Vento XIX Other Companies' financial information of joint ventures Non-Current Assets 613,568 517,799 194,889 5,239,101 465,479 1,274,826 Current Assets 8,391 8,350 1,287 454,656 10,949 212,872 Cash and cash equivalents 4 5 481 252,879 3 124,249 Total Equity 158,123 257,571 165,373 844,537 145,666 770,118 Long term Financial debt — — — 2,940,112 — — Non-Current Liabilities 438,108 260,442 27,432 4,165,364 324,321 389,424 Short term Financial debt 665 155 16 175,194 78 31,981 Current Liabilities 25,728 8,136 3,371 683,856 6,441 328,156 Revenues 33,420 41,009 12,251 119,259 28,081 468,465 Property plant and equipment and intangibles amortization/ impairment -23,499 -21,734 -10,144 -28,121 -21,996 -103,582 Other financial expenses -16,294 -10,874 -1,338 -222,868 -14,909 -14,947 Income tax expense — — — -4,859 — -5,716 Net profit for the period 30,516 33,594 11,006 -326,580 31,228 -181,414 Amounts proportionally attributed to EDP Group Net assets 58,374 70,482 75,563 368,809 48,452 275,741 Goodwill — — — 5,352 — 2,667 Dividends paid 2,701 2,024 3,446 62,183 3,385 8,415 The following table resumes the companies' financial information of associates whose investment is included in the Group consolidated accounts under the equity method, as at 31 December 2025: Thousand Euros Celesc Parque Eólico Belmonte, S.A. Parque Eólico Madero Eólica de São Julião, Lda. Other Companies' financial information of associates Non-Current Assets 600,476 15,756 42,616 1,525 35,163 Current Assets 70,758 3,483 42,018 13,332 53,793 Total Equity 604,320 16,274 59,443 7,335 23,404 Non-Current Liabilities 1,563 2,054 8,253 5,506 28,768 Current Liabilities 65,351 911 16,938 2,016 36,786 Revenues — 3,235 11,043 8,674 62,998 Net profit for the period 112,654 567 3,561 2,799 -10,375 Amounts proportionally attributed to EDP Group Net assets 180,671 6,592 24,968 19,601 29,304 Goodwill — 1,725 — 1,457 13,230 Dividends paid 18,537 — — 2,700 10,389 Other include companies with Financial Statements as of 31 December 2025, with the exception of companies that have no activity or are in liquidation process. Additionally, Celesc is based on the Financial Statements disclosed to the market with reference to 30 September 2025. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 366
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The following table resumes the companies' financial information of associates whose investment is included in the Group consolidated accounts under the equity method, as at 31 December 2024: Thousand Euros Celesc Porto Pecém Geração de Energia, S.A. Parque Eólico Madero Eólica de São Julião, Lda. Other Companies' financial information of associates Non-Current Assets 510,684 254,845 41,781 1,611 57,965 Current Assets 60,099 117,930 39,181 16,682 55,081 Total Equity 514,434 152,744 55,940 8,851 37,533 Non-Current Liabilities 4,642 114,965 8,213 6,362 42,320 Current Liabilities 51,707 105,066 16,809 3,080 33,193 Revenues — — 7,296 10,072 72,851 Net profit for the period 106,320 45,133 -282 4,537 -14,753 Amounts proportionally attributed to EDP Group Net assets 153,798 19,481 23,495 21,579 40,481 Goodwill — — — 1,457 17,816 Dividends paid 12,869 7,525 — 5,400 1,561 The column Other include companies with financial statements as of 31 December 2024, with the exception of companies that have no activity or are in liquidation process. Additionally, Celesc is based on the Financial Statements disclosed to the market with reference to 30 September 2024. As at 31 December 2025, the significant companies' financial information of joint ventures and associates presents the following reconciliation of net assets proportionally attributed to EDP Group: Thousand Euros Equity % EM Fair Value Adjustments Goodwill Other Net Assets Empresa de Energia São Manoel S.A. 271,977 33.33 % — — — 90,661 OW Offshore, S.L. 999,915 50.00 % -53,875 5,352 -1,766 449,668 Sol V - Riverstart 210,121 20.00 % -1,194 — — 40,830 Goldfinger Vento 139,265 50.00 % -5,928 — — 63,705 Goldfinger Vento II 210,644 50.00 % -10,370 — — 94,952 EDPR Wind Ventures XX LLC 172,684 20.00 % 22,461 — — 56,997 Portfolio Vento XIX 140,627 20.00 % 16,202 — — 44,327 Portfolio Vento XVII 254,008 20.00 % 15,932 — — 66,734 Flat Rock Windpower LLC 149,993 50.00 % — — 6,652 81,649 Sharp Hills 174,233 20.00 % — — 10,792 45,638 EDPR Solar Ventures IX LLC 137,374 20.00 % — — -192 27,283 Centrais Elétricas de Santa Catarina, S.A. - Celesc 604,320 29.90 % — — 1 180,671 Parque Eólico Belmonte, S.A. 16,274 29.90 % — 1,726 — 6,592 Parque Eólico Sierra del Madero S.A. 59,443 42.00 % — — 2 24,968 Eólica de São Julião, Lda. 7,335 45.00 % — 1,457 14,844 19,601 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 367
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As at 31 December 2024, the significant companies' financial information of joint ventures and associates presents the following reconciliation of net assets proportionally attributed to EDP Group: Thousand Euros Equity % EM Fair Value Adjustments Goodwill Other Net Assets Energética JARI - CEJA 147,222 50.00 % 20,926 — — 94,537 Energia Cachoeira Caldeirão 87,202 50.00 % 196 — — 43,797 Empresa de Energia São Manoel S.A. 270,898 33.33 % — — — 90,301 OW Offshore, S.L. 844,537 50.00 % -53,875 5,352 -4,937 368,809 Sol V - Riverstart 227,714 20.00 % -1,078 — — 44,465 Goldfinger Vento 165,373 50.00 % -7,124 — — 75,563 Goldfinger Vento II 240,977 50.00 % -12,135 — — 108,354 EDPR Wind Ventures XX LLC 158,123 20.00 % 26,749 — — 58,374 Portfolio Vento XIX 145,666 20.00 % 19,319 — — 48,452 Portfolio Vento XVII 257,571 20.00 % 18,968 — — 70,482 Sharp Hills 222,271 20.00 % — — 6,537 50,991 Centrais Elétricas de Santa Catarina, S.A. - Celesc 514,434 29.90 % — — — 153,798 Porto do Pecém Geração de Energia, S.A. 152,744 20.00 % -11,068 — — 19,481 Parque Eólico Sierra del Madero S.A. 55,940 42.00 % — — — 23,495 Eólica de São Julião, Lda. 8,851 45.00 % — 1,457 16,139 21,579 As at 31 December 2025 and 2024, commitments and contingent liabilities assumed by the Group in respect of its joint ventures and associates, including its share of commitments assumed jointly with other investors, are disclosed by maturity as follows: Capital outstanding by maturity Thousand Euros Dec 2025 Dec 2024 Less than 1 year 123,357 203,351 From 1 to 3 years 3,386 50,641 From 3 to 5 years 133 17,481 More than 5 years 88 47,814 126,964 319,287 Commitments and contingent liabilities in respect of joint ventures and associates include EDPR commitments to provide funding to Offshore projects and to the construction of solar farms facilities in North America, and to commitments assumed by EDP Brasil related to its joint ventures operating obligations. The variation in this caption is mainly attributable to the disposals carried out during the year (see Note 6). 22. Equity instruments at fair value As at 31 December 2025, the movements in Equity Instruments measured at Fair Value are as follows: Group Thousand Euros Dec 2025 Dec 2024 Equity instruments at fair value through other comprehensive income (OCI) 100,781 116,096 Equity instruments at fair value through profit or loss (PL) 103,592 99,182 204,373 215,278 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 368
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The equity instruments at fair value are classified into three levels: level 1 includes essentially stocks from Lhyfe S.A.S.; level 2 includes the fund of stocks and bonds held by Energia RE; and level 3 covers all other equity instruments at fair value (see note 45). As at 31 December 2025, this caption is analysed as follows: Other Comprehensive Income Profit or loss Thousand Euros Lhyfe, S.A.S Mercer and Dunas Other EDA, S.A. Feedzai, S.A. Other Total Balance as at 1 January 2024 14,400 91,610 22,521 17,129 38,607 20,485 204,752 Acquisitions — — 554 — — 2,383 2,937 Disposals — -9,647 -100 — — -957 -10,704 Change in fair value -6,057 5,590 -2,728 — 16,062 6,186 19,053 Other variations — — -47 — — -713 -760 Balance as at 31 December 2024 8,343 87,553 20,200 17,129 54,669 27,384 215,278 Acquisitions — — 334 — — 4,032 4,366 Disposals — -17,605 -3,389 — — — -20,994 Change in fair value (see note 32) -200 6,044 590 1,167 — -923 6,678 Other variations — — -1,089 — — 134 -955 Balance as at 31 December 2025 8,143 75,992 16,646 18,296 54,669 30,627 204,373 As at 31 December 2025, the fair value reserve of equity instruments measured at fair value through other comprehensive income attributable to the Group is as follows: Thousand Euros Dec 2025 Dec 2024 Fundos Mercer and Dunas (Energia RE portfolio) 17,323 10,285 Defined Crowd Corporation -1,193 -1,193 Lhyfe S.A.S -12,023 -11,876 Other 2,665 1,209 6,772 -1,575 In equity instruments measured at fair value through profit or loss stands out: i) Feedzai - Consultadoria e Inovação Tecnológica, S.A., whose the fair value of 54,669 thousand Euros was determined according to an implicit reference multiple (supported by an investment transaction that took place in 2025, in which EDP did not participate); ii) EDA, S.A., whose fair value of 18,296 thousand Euros was determined according to the Dividend Discounted model. Regarding EDA, S.A., the sensitivity analysis, considering a reduction or increase of 50bp in the discounted rate, determines a fair value of 20,153 thousand Euros and 16,746 thousand Euros, respectively. During 2025 an increase in the fair value of the Equity Instruments through Profit and Losses, in the amount of 244 thousand Euros, was booked against Profit or Loss (see note 45). 23. Investment property This caption is detailed as follows: Group Company Thousand Euros Dec 2025 Dec 2024 Dec 2025 Dec 2024 Cost 37,415 45,379 169,962 198,523 Accumulated depreciation and impairment losses -18,892 -25,278 -42,710 -42,331 Carrying amount 18,523 20,101 127,252 156,192 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 369
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The investment properties are mainly lands and buildings held to obtain rents or for capital appreciation and are not materially relevant in the context of the consolidated financial statements. On a consolidated basis, Accumulated depreciation and impairment losses, in 2025, includes 790 thousand Euros related to charges of the period (see note 12). On an individual basis, Accumulated depreciation and impairment losses, in 2025, includes 7,916 thousand Euros related to charges of the period (see note 12). The impairment tests carried out of Investment Properties are based on assessments using current market practices: i) the comparative method, in cases where there is an active and comparable market; ii) the income method, through discounted cash flows depending on the property income; and iii) the cost method, which considers the market value of the land and the construction costs. 24. Deferred tax assets and liabilities EDP Group records the tax effect resulting from temporary differences between the assets and liabilities determined on an accounting basis and on a tax basis. In 2025, on a consolidated basis, the movements by nature of Deferred Tax Assets and Liabilities are as follows: Deferred Tax Assets Thousand Euros Balance as at 1 January Mov. Results Mov. Reserves Perimeter variations, exchange differences and others Balance as at 31 December Tax losses and tax credits 1,149,306 14,649 — -108,102 1,055,853 Provisions for social benefits, bad debts, dismt. and other risks 534,015 12,084 -6,381 6,127 545,845 Derivative financial instruments and Equity investments 524,852 81,629 -84,509 87,305 609,277 Property plant and equipment and intangible assets 150,468 5,135 — -8,198 147,405 Allocation of fair value to assets and liabilities acquired 9,222 — -768 116 8,570 Fiscal revaluations 112,876 -35,170 — — 77,706 Lease liabilities and other temporary differences 374,182 -18,227 -1,047 1,381 356,289 Assets/liabilities compensation of deferred taxes -1,633,459 -172,928 -3,803 29,522 -1,780,668 1,221,462 -112,828 -96,508 8,151 1,020,277 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 370
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Deferred Tax Liabilities Thousand Euros Balance as at 1 January Mov. Results Mov. Reserves Perimeter variations, exchange differences and others Balance as at 31 December Provisions for social benefits, bad debts, dismt. and other risks 18,628 17,935 11,992 — 48,555 Derivative financial instruments and Equity investments 319,377 118,597 -46,199 21,382 413,157 Property plant and equip., intang. assets and right-of-use 779,298 85,292 — -54,959 809,631 Allocation of fair value to assets and liabilities acquired 1,042,241 17,275 -4,538 -40,899 1,014,079 Fiscal revaluations 44,503 -1,322 — — 43,181 Deferred income relating to CMEC 170,049 -22,406 — — 147,643 Gains from institutional partnerships in wind farms 531,105 40,105 — -63,025 508,185 Fair value of financial assets (Brazil) 125,631 14,311 — -504 139,438 Other temporary differences 169,946 59,242 -928 -12,108 216,152 Assets/liabilities compensation of deferred taxes -1,633,459 -172,928 -3,803 29,522 -1,780,668 1,567,319 156,101 -43,476 -120,591 1,559,353 Provisions for social benefits, bad debts, dismt. and other risks, Lease liabilities and other temporary differences and Property plant and equip., intang. assets and right-of-use include deferred tax assets and deferred tax liabilities related with the recognition of provisions for dismantling, as well as deferred tax assets and deferred tax liabilities relating to lease contracts. As at a 31 December 2024, on a consolidated basis, the movements by nature of Net Deferred Tax Assets and Liabilities are as follows: Deferred Tax Assets Thousand Euros Balance as at 1 January Mov. Results Mov. Reserves Perimeter variations, exchange differences and others Balance as at 31 December Tax losses and tax credits 1,145,693 -96,979 — 100,592 1,149,306 Provisions for social benefits, bad debts, dismt. and other risks 540,044 72,143 -50,378 -27,794 534,015 Derivative financial instruments and Equity investments 705,560 -108,843 -71,247 -618 524,852 Property plant and equipment and intangible assets 248,908 -105,271 82 6,749 150,468 Allocation of fair value to assets and liabilities acquired 9,763 -4,442 — 3,901 9,222 Fiscal revaluations 171,319 -58,443 — — 112,876 Lease liabilities and other temporary differences 395,128 4,811 639 -26,396 374,182 Assets/liabilities compensation of deferred taxes -1,807,083 -53,927 4,599 222,952 -1,633,459 1,409,332 -350,951 -116,305 279,386 1,221,462 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 371
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Deferred Tax Liabilities Thousand Euros Balance as at 1 January Mov. Results Mov. Reserves Perimeter variations, exchange differences and others Balance as at 31 December Provisions for social benefits, bad debts and other risks 19,288 -660 — — 18,628 Derivative financial instruments and Equity investments 496,009 -140,100 14,640 -51,172 319,377 Property plant and equip., intang. assets and right-of-use 816,965 42,392 — -80,059 779,298 Allocation of fair value to assets and liabilities acquired 1,031,494 9,461 -520 1,806 1,042,241 Fiscal revaluations 50,073 -5,570 — — 44,503 Deferred income relating to CMEC 181,257 -11,208 — — 170,049 Gains from institutional partnerships in wind farms 431,255 69,095 461 30,294 531,105 Fair value of financial assets (Brazil) 128,018 20,728 — -23,115 125,631 Other temporary differences 131,947 32,313 -4,774 10,460 169,946 Assets/liabilities compensation of deferred taxes -1,807,083 -53,927 4,599 222,952 -1,633,459 1,479,223 -37,476 14,406 111,166 1,567,319 On a Company basis, EDP, S.A. records the tax effect arising from temporary differences between the assets and liabilities determined on an accounting basis and on a tax basis. In 2025, on a Company basis, the movements by nature of Deferred Tax Assets and Liabilities are as follows: Deferred Tax Assets Thousand Euros Balance as at 1 January Mov. Results Mov. Reserves Other Balance as at 31 December Tax losses and tax credits 52,255 -34,800 — 13,502 30,957 Provisions for social benefits, bad debts and other risks 5,709 -281 -41 -197 5,190 Derivative financial instruments 354 -9 -187 — 158 Property plant and equipment and intangible assets 1,966 -481 — — 1,485 Other temporary differences 2,907 -43 — 11 2,875 Assets/liabilities compensation of deferred taxes -17,422 -23,243 — — -40,665 45,769 -58,857 -228 13,316 — Deferred Tax Liabilities Thousand Euros Balance as at 1 January Mov. Results Mov. Reserves Other Balance as at 31 December Derivative financial instruments 3,701 — 362 — 4,063 Allocation of fair value to assets and liabilities acquired 5,941 — — — 5,941 Fiscal revaluations 146 -26 — — 120 Other temporary differences 7,634 25,224 — — 32,858 Assets/liabilities compensation of deferred taxes -17,422 -23,243 — — -40,665 — 1,955 362 — 2,317 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 372
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As at a 31 December 2024, on a Company basis, the movements by nature of Net Deferred Tax Assets and Liabilities are as follows: Net Deferred Tax Assets Thousand Euros Balance as at 1 January Mov. Results Mov. Reserves Other Balance as at 31 December Tax losses and tax credits 53,849 -8,535 — 6,941 52,255 Provisions for social benefits, bad debts and other risks 7,518 -1,598 -211 — 5,709 Financial instruments 15 — 339 — 354 Property plant and equipment and intangible assets 2,132 -166 — — 1,966 Other temporary differences 2,915 -354 — 346 2,907 Assets/liabilities compensation of deferred taxes -18,648 -80 1,306 — -17,422 47,781 -10,733 1,434 7,287 45,769 Net Deferred Tax Liabilities Thousand Euros Balance as at 1 January Mov. Results Mov. Reserves Other Balance as at 31 December Financial instruments 5,007 — -1,306 — 3,701 Allocation of fair value to assets and liabilities acquired 5,941 — — — 5,941 Fiscal revaluations 158 -12 — — 146 Other temporary differences 7,542 92 — — 7,634 Assets/liabilities compensation of deferred taxes -18,648 -80 1,306 — -17,422 — — — — — Taxes recorded against reserves are as follows: Group Company Thousand Euros Dec 2025 Dec 2024 Dec 2025 Dec 2024 Financial instruments and fair value -43,152 -87,801 -549 1,645 Actuarial gains and losses -18,581 -51,334 -41 -211 Financial instruments and equity instruments at fair value OCI -1,729 1,497 — — Others 10,430 6,927 — — -53,032 -130,711 -590 1,434 The Group tax losses carried forward are analysed as follows: Group Thousand Euros Dec 2025 Dec 2024 Expiry date: 2025 — 3,744 2026 2,201 8,344 2027 6,935 17,606 2028 13,675 20,054 2029 42,521 25,476 2030 481,414 36,699 2031 to 2042 1,588,157 2,403,222 Without expiry date 2,337,966 2,225,997 4,472,869 4,741,142 Of the total of EDP Group’s tax losses available to carry forward as at 31 December 2025, the amount of 1,091,327 thousand Euros does not have deferred tax asset, in accordance with the applicable accounting standards since, at the present date, there is still not sufficient visibility about the future period in which such tax losses will be used. In addition to the above, EDPR North America LLC has State EDP Integrated Annual Report 2025 Financial Statements and Notes Index 373
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tax losses and the associated deferred tax asset amounts to 58,153 thousand Euros as at 31 December 2025 (75,098 thousand Euros as at 31 December 2024). 25. Inventories This caption is as follows: Group Thousand Euros Dec 2025 Dec 2024 Merchandise 67,527 82,464 Finished, intermediate products and sub-products 48,206 56,554 Raw and subsidiary materials and consumables - fuels 12,197 13,872 Nuclear fuel 21,324 17,509 CO2 licenses 3,783 2,431 Guarantees of origin 3,509 3,171 Green certificates 138,160 178,550 Other 208,907 235,375 503,613 589,926 The caption Other includes materials for building energy distribution networks and photovoltaic solar panels. The variation of the caption Inventories is essentially explained by the decrease in the value of green certificates and photovoltaic solar panels stocks. The movements in the portfolio of CO2 Licenses held for trading and classified as inventories are as follows: Group CO2 (Ton) Dec 2025 Dec 2024 CO2 Licenses held for trading on 1 January 35,311 134,791 Licenses negotiated in the market 928,893 1,410,559 Emission Licenses transferred from trading portfolio to intangibles -919,780 -1,510,039 CO2 Licenses held for trading on 31 December 44,424 35,311 CO2 Licenses for trading on 31 December (in thousand Euros) 3,783 2,431 Fair value corresponds to the spot price (closing price) at the end of December in each period. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 374
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26. Debtors and other assets from commercial activities At Group level, Debtors and other assets from commercial activities are as follows: Non-Current Current Thousand Euros Dec 2025 Dec 2024 Dec 2025 Dec 2024 Assets measured at amortised cost: Amounts receivable from tariff adjustments - Electricity - Portugal 10,080 1,738 35,373 1,846 Amounts receivable from tariff adjustments - Electricity - Brazil (see note 38) 49,306 11,135 32,324 7,553 Debtors for other goods and services — — 41,792 35,343 Amounts receivable relating to CMEC 110,209 214,128 309,645 292,270 Amounts receivable from concessions - IFRIC 12 611,917 440,511 1,228,677 1,160,561 Other assets measured at amortised cost 223,212 208,275 358,437 520,894 Impairment losses on other assets measured at amortised cost -93 -242 -7,057 -5,500 1,004,631 875,545 1,999,191 2,012,967 Trade receivables at amortised cost: Trade receivables 147,595 144,168 1,213,984 1,294,190 Impairment losses on trade receivables -4,153 -5,672 -305,065 -266,756 143,442 138,496 908,919 1,027,434 Assets measured at fair value through other comprehensive income Amounts receivable from tariff adjustments - Electricity - Portugal 178 263 85 396 Assets measured at fair value through profit or loss: Amounts receivable from concessions - IFRIC 12 732,945 584,865 — 856,192 Contract assets: Contract assets receivable from energy sales contracts 3,539 3,574 1,290,662 1,424,083 Contract assets receivable from concessions - IFRIC 12 829,589 539,526 — — 833,128 543,100 1,290,662 1,424,083 Other assets: Incremental costs of obtaining contracts with customers 74,463 75,123 14,273 9,305 Other assets from commercial activities 66,684 69,732 59,835 93,663 141,147 144,855 74,108 102,968 2,855,471 2,287,124 4,272,965 5,424,040 At Company level, Debtors and other assets from commercial activities are as follows: Current Thousand Euros Dec 2025 Dec 2024 Assets measured at amortised cost: Debtors for other goods and services 342,105 90,527 Other assets measured at amortised cost 25,275 21,595 367,380 112,122 Trade receivables at amortised cost: Trade receivables 25,075 48,456 Impairment losses on trade receivables -294 -236 24,781 48,220 Other assets: Other assets from commercial activities 20,884 13,824 413,045 174,166 The captions Amounts receivable and Amounts payable for tariff adjustments - Electricity - Portugal refer to tariff adjustments recognised in E- Redes – Distribuição de Eletricidade, S.A. and in SU Eletricidade, S.A. Non-current Current Thousand Euros Dec 2025 Dec 2024 Dec 2025 Dec 2024 Amounts receivable for tariff adjustments - Electricity - Portugal 10,258 2,001 35,458 2,242 Amounts payable from tariff adjustments - Electricity - Portugal (see note 38) -4,279 -34,067 -85,376 -62,212 5,979 -32,066 -49,918 -59,970 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 375
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The movement for the period in Amounts receivable and Amounts payable from tariff adjustments - Electricity - Portugal (Non-current and Current) is as follows: Thousand Euros Dec 2025 Balance at the beginning of the period -92,036 Tariff adjustment of the period (see note 7) 651,966 Receipts/payments through the electricity tariff 60,401 Assignment of tariff adjustment/deficit -137,762 Transfer from/to contract liabilities (see note 38) -571,638 Interest income/expense (see note 13) 3,480 Adjustments related to previous years 41,650 Balance at the end of the period -43,939 In the fourth quarter of 2025, SU Eletricidade, S.A. agreed, through 2 individual transactions, the full and non-recourse sale of 72,450 thousand Euros relating to part of the final adjustment for 2024 and the provisional adjustment for 2025, including the respective interest. This adjustment is related to the activity of purchasing of electricity for customer supply, with the sale price amounting to 73,355 thousand Euros. In the fourth quarter of 2025, E-REDES – Distribuição de Eletricidade, S.A. P, agreed, through 2 individual transactions, the sale of the 2024 definitive adjustment related to the electricity distribution and to the purchase and sale of access to the transmission network activities, as well as of the 2025 provisional adjustment related to sustainability or tariff containment measures of the national electricity system and to the activity of purchase and sale of the access to the transmission network, in the total amount of 62,550 thousand Euros. In this asset sale transaction, E-REDES – Distribuição de Eletricidade, S.A. fully and without recourse transferred the right to receive the aforementioned amounts and corresponding interest, with the sale price amounting to 63,294 thousand Euros. The tariff adjustment at the end of period corresponds to an amount of 43,939 thousand Euros to be returned and includes 89,655 thousand Euros of Amounts payable from tariff adjustments - Electricity - Portugal (see note 38) and 45,716 thousand Euros of Amounts receivable from tariff adjustments - Electricity - Portugal. The caption Assets measured at fair value through other comprehensive income includes the amount of the tariff deficit classified and measured at fair value through other comprehensive income. According to IFRS 13, the tariff deficit fair value is classified as level 2 (see note 45). The following table provides details for the caption Amounts receivable and Amounts payable from tariff adjustments - Electricity - Portugal, by nature and year of establishment, as well as presents the amounts of tariff adjustment/deficit that have been sold during the period ended 31 December 2025: Thousand Euros Deficit Tariff adj. Sales Other Regulatory Assets/ Liabilities Total Year: 2016 — 1,449 — — 1,449 2021 1 3,739 — — 3,740 2023 — -2,824 — — -2,824 2024 139 10,266 -92,354 -267 -82,216 2025 124 81,395 -45,408 -199 35,912 264 94,025 -137,762 -466 -43,939 The captions Amounts receivable relating to CMEC and Contract liabilities - CMEC are as follows: Thousand Euros Non-current Current Amounts receivable relating to CMEC 110,209 309,645 Contract liabilities - CMEC (see note 38) -6,311 -5,398 103,898 304,247 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 376
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Thousand Euros Non-current Current Initial CMEC 80,086 72,714 Final adjustment 23,812 129,680 Revisibility 2014 - 2017 * — 101,853 103,898 304,247 * The revisibility calculation for 2016 to 2017 is still waiting the official approval The movement of the period in the captions Amounts receivable from concessions - IFRIC 12 and Contract assets receivable from concessions - IFRIC 12 is as follows: Thousand Euros Amounts receivable Contract assets Balance as at 31 December 2024 3,042,129 539,526 Investments of the period — 834,451 Transfer to intangible assets (see note 18) — -1,096,953 Transfer between Amounts receivable and Contract assets -401,882 401,882 Exchange differences 11,837 -8,763 Perimeter variations and others -78,545 159,446 Balance as at 31 December 2025 2,573,539 829,589 The transfer to intangible assets reflects the extension of the EDP Espírito Santo concession (see note 18). The Perimeter variations and others includes the impact of the reclassification of some transmission assets in Brazil to non-current assets held for sale, in the amount of 69,320 thousand Euros (see note 41). The movements in Impairment losses on trade receivables and other assets measured at amortised cost are as follows: Trade receivables Other assets Thousand Euros Non-current Current Non-current Current Balance as at 1 January 2024 7,934 264,231 244 5,924 Charge of the period 68 117,338 41 4,440 Reversals -1,114 -48,117 1 -2,831 Charge-off — -19,353 — -40 Exchange differences -1,216 -20,276 -44 -609 Perimeter variations/Other regularisations — -27,067 — -1,384 Balance as at 31 December 2024 5,672 266,756 242 5,500 Charge of the period 8 116,137 — 1,741 Reversals -1,549 -25,546 -152 -1,538 Charge-off — -29,629 — -35 Exchange differences 22 -1,844 3 -9 Perimeter variations/Other regularisations — -20,809 — 1,398 Balance as at 31 December 2025 4,153 305,065 93 7,057 The geographical market Trade receivables' breakdown and the credit risk analysis are disclosed in note 5, under the Counterparty credit risk management. Contract assets receivable from energy sales contracts - Current include contract assets relating to energy delivered and not yet invoiced, amounts receivable from REN regarding the CMEC Revisibility of 2016 and 2017 which are awaiting approval, and accruals from energy management business. The impairment losses on Trade receivables includes impairment losses related to Contract assets receivable from energy sales contracts. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 377
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27. Other debtors and other assets Other debtors and other assets are as follows: Group Company Thousand Euros Dec 2025 Dec 2024 Dec 2025 Dec 2024 Debtors and other assets - Non-Current Assets measured at amortised cost: Loans to subsidiaries and related parties 468,969 453,155 4,046,233 3,740,544 Guarantees rendered to third parties 148,937 152,522 — — Other financial assets at amortised cost (i) 22,992 33,581 19 19 Assets measured at fair value through profit or loss: Derivative financial instruments (see note 42) 813,183 611,423 509,691 468,348 Contingent price 28,659 56,715 — — Other assets: Excess of the pension fund financing (see note 35) 355,929 237,479 1,406 853 Other debtors and sundry operations 32,129 50,551 90,652 90,077 1,870,798 1,595,426 4,648,001 4,299,841 Debtors and other assets - Current Assets measured at amortised cost: Loans to subsidiaries and related parties 239,560 194,733 87,719 52,025 Dividends attributed by subsidiaries — — 43,000 11,000 Guarantees rendered to third parties 123,703 142,283 — — Subsidiary companies — — 298,857 162,539 Other financial assets at amortised cost (i) 10,693 10,996 — — Assets measured at fair value through profit or loss: Derivative financial instruments (see note 42) 447,267 453,555 323,462 492,656 Other financial investments measured at fair value 3,939 309 — — Contingent price 13,101 27,788 — — Other assets: Other debtors and sundry operations 470,846 355,606 27,034 72,956 1,309,109 1,185,270 780,072 791,176 3,179,907 2,780,696 5,428,073 5,091,017 The caption Loans to subsidiaries - Non-Current and Current, on an individual basis, includes the loans granted to EDP Gestão da Produção S.A., EDP Finance B.V. and EDP Comercial - Comercialização de Energia S.A. (see note 44). For the Loans to subsidiaries, EDP S.A. performs an analysis to evaluate impairment based on the general approach. The company uses several inputs on making its assessment of the credit risk related to these assets, such as the analysis of the historical possible delays and/or impairment losses indications, companies rating (when applicable) and market and macroeconomic data that may change the probability of default and the expectation of delays in the receivable amounts. According to the analysis performed, no impairment was reversed or recognised. The caption Loans to related companies, on a consolidated basis, essentially includes loans granted to OW FS Offshore, S.L. (Non-current: 372,222 thousand Euros (31 December 2024: 371,341 thousand Euros) and Current: 127,549 thousand Euros (31 December 2024: 141,933 thousand Euros)), to Hidrocantábrico JV S.L. (Non-current: 48,000 thousand Euros (31 December 2024: 72,000 thousand Euros) and Current: 27,158 thousand Euros (31 December 2024: 28,860 thousand Euros)) and to Aboño Generaciones Eléctricas, S.L.U. (Non-current: 46,667 thousand Euros and Current: 23,344 thousand Euros). (i) Other financial assets at amortised cost On a consolidated basis, this caption mainly includes securities issued by Tagus - Sociedade de Titularização de Créditos, SA, in the context of the transmission of the right to receive tariff adjustments (adjustments and deficits) from the National Electric System for credit securitisation companies, acquired by SU Eletricidade, S.A. The detail of the balances arising from these operations is as follows: Thousand Euros Issue Date Class R Notes Liquidity Notes Senior Notes Total Overcost from special regime production 2022-2024 Dec 2023 416 4,547 27,897 32,860 416 4,547 27,897 32,860 Contingent consideration - Non-current and Current mainly includes 30,541 thousand Euros resulting from the sale of a solar portfolio in Italy (see note 6) and 9,698 thousand Euros as part of the price adjustment, according to the corresponding agreements, from the transaction involving the sale of a 49% stake in EDP Renováveis Portugal S.A to CTG that took place in 2013. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 378
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The variation in Other debtors and sundry operations- Non-current and Current mainly includes: i) the recognition of a receivable amounting to 229,207 thousand Euros (which includes the proceeds for the intercompany financing), which arises from the sale of a wind portfolio in Greece (see note 6 and 46); ii) the decrease of 43,255 thousand Euros corresponding to the receipt of proceeds from the sale of the stake in the North American companies in 2024; and iii) the receipt of 65,011 thousand Euros from the sale of 50% of the stake by Hydro Global Investment Limited to China International Water & Electric Corporation ("CWE"), carried out in December 2022. 28. Tax assets Non-current and Current tax assets are as follows: Group Company Thousand Euros Dec 2025 Dec 2024 Dec 2025 Dec 2024 Non-Current: Special taxes Brazil 121,351 105,752 — — Current: Income tax 261,632 323,836 12,567 55,544 Value added tax (VAT) 238,468 274,918 25,432 4,515 Special taxes Brazil 69,146 56,766 — — Other taxes 69,773 70,510 — — 639,019 726,030 37,999 60,059 760,370 831,782 37,999 60,059 The Special taxes Brazil caption relates to the following taxes: CSLL (Social Contribution on net profits), PIS (Social integration programme) and COFINS (Social Security Financing Contribution). 29. Cash and cash equivalents Cash and cash equivalents are as follows: Group Company Thousand Euros Dec 2025 Dec 2024 Dec 2025 Dec 2024 Cash 4,569 1,996 34 34 Bank deposits Current deposits 2,079,651 1,770,876 193,297 292,860 Term deposits 1,492,934 1,820,798 530,000 980,000 Specific demand deposits in relation to institutional partnerships — 1,286 — — 3,572,585 3,592,960 723,297 1,272,860 Other operations Other short term investments 358,001 43,843 350,059 40,047 Group Financial System (see note 44) — — 442,710 130,886 3,935,155 3,638,799 1,516,100 1,443,827 Held for sale operations: Cash and cash equivalents reclassified as held for sale (see note 41) -5,223 -7,515 — — 3,929,932 3,631,284 1,516,100 1,443,827 The caption Specific demand deposits in relation to institutional partnerships corresponds to the escrow funds necessary to pay the remaining construction costs of projects in institutional equity partnerships (see note 37). 30. Share capital and share premium EDP, S.A. was incorporated as a State-owned company and started its privatisation process in 1997. The second and third phases of the privatisation process were carried out in 1998, the fourth phase in 2000, the fifth phase consisting of a capital increase in 2004 and a sixth phase in 2005. In December EDP Integrated Annual Report 2025 Financial Statements and Notes Index 379
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2007, the State issued bonds convertible into shares of EDP, S.A. under the seventh phase of the privatisation process. On 11 May 2012, regarding EDP's eighth privatisation phase, the Portuguese State sold to China Three Gorges (Europe), S.A. (former - CWEI (Europe), S.A.), the ownership of 780,633,782 shares representing 21.35% of the share capital and the voting rights of EDP S.A. On 21 February 2013, Parpública – Participações Públicas (SGPS) S.A. (Parpública) notified EDP that, on 19 February 2013, it sold 151,517,000 shares, which correspond to 4.14% of EDP's share capital. As a result of these last two transactions, Parpública no longer has a qualified shareholding position in EDP share capital. On 29 September 2017, China Three Gorges (Europe), S.A. acquired 70,143,242 shares representing around 1.92% of EDP's share capital and voting rights. After this acquisition, an off-market transaction, CTG Europe became the holder of 850,777,024 shares. On 11 August 2020, EDP made a capital increase by issuing 309,143,297 ordinary, book-entry and nominative shares, with a unit face value of 1 Euro, with a unit subscription price of 3.30 Euros, offered to subscription of its shareholders, in the exercise of the respective preemptive rights. The new ordinary shares will be fungible with existing ordinary shares and will entitle their holders to the same rights as those of pre-existing shares. As such, the current share capital of EDP is now of 3,965,681,012 Euros, represented by 3,965,681,012 ordinary, registered, book-entry shares with nominal value 1 Euro each. On 3 March 2023, EDP carried out, through an accelerated bookbuilding process ("ABB") without pre- emption rights, in compliance with the authorization given to the Executive Board of Directors for the latter to increase the share capital in an amount of up to 10% of EDP’s share capital, under Article 4(4) of EDP’s by-laws, a capital increase by issuing 218,340,612 ordinary, book-entry and nominative shares, with a unit face value of 1 Euro, with a unit subscription price of 4.58 Euros, offered to subscription of its shareholders, in the exercise of the respective preemptive rights. The new ordinary shares will be fungible with existing ordinary shares and will entitle their holders to the same rights as those of pre- existing shares. As such, the current share capital of EDP is now of 4,184,021,624 Euros, represented by 4,184,021,624 ordinaries, registered, book-entry shares with nominal value 1 Euro each. EDP, S.A. shareholder structure as at 31 December 2025 is as follows: No. of Shares % Capital % Voting China Three Gorges Corporation 929,037,388 22.20 % 22.20 % BlackRock, Inc. 349,509,773 8.35 % 8.35 % Oppidum Capital, S.L. 285,414,883 6.82 % 6.82 % EDP (Treasury Stock) 50,123,439 1.20 % Remaining Shareholders 2,569,936,141 61.43 % 4,184,021,624 100.00 % Share capital and Share premium are as follows: Group and Company Thousand Euros Share capital Share premium Balance as at 1 January 4,184,022 1,970,996 Movements during the period — — Balance as at 31 December 4,184,022 1,970,996 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 380
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The earnings per share (EPS) attributable to the equity holders of EDP are as follows: Group Company Dec 2025 Dec 2024 Dec 2025 Dec 2024 Net profit (in Euros) 1,149,725,617 800,980,298 837,909,469 817,399,284 Net profit from continuing operations (in Euros) 1,149,725,617 800,980,298 837,909,469 817,399,284 Weighted average number of ordinary shares outstanding 4,139,689,274 4,126,858,329 4,139,689,274 4,126,858,329 Weighted average number of diluted ordinary shares outstanding 4,139,689,274 4,126,858,329 4,139,689,274 4,126,858,329 Basic earnings per share (in Euros) 0.28 0.19 0.20 0.20 Diluted earnings per share (in Euros) 0.28 0.19 0.20 0.20 Basic earnings per share from continuing operations (in Euros) 0.28 0.19 0.20 0.20 Diluted earnings per share from continuing operations (in Euros) 0.28 0.19 0.20 0.20 EDP Group calculates basic and diluted earnings per share attributable to equity holders of EDP using the weighted average number of ordinary shares outstanding during the period, net of changes in treasury stock during the period. Basic earnings per share and diluted earnings per share are equal because there are no dilution factors. The average number of shares is determined as follows: Group and Company Dec 2025 Dec 2024 Ordinary shares issued at the beginning of the period 4,184,021,624 4,147,631,522 Average number of realised shares 4,184,021,624 4,147,631,522 Effect of treasury stock -44,332,350 -20,773,193 Average number and diluted average number of shares during the period 4,139,689,274 4,126,858,329 31. Treasury stock This caption is as follows: Group Company Dec 2025 Dec 2024 Dec 2025 Dec 2024 Book value of EDP, S.A.'s treasury stock (thousand Euros) 156,588 63,033 156,588 63,033 Number of shares 50,123,439 20,111,842 50,123,439 20,111,842 Market value per share (in Euros) 3.915 3.091 3.915 3.091 Market value of EDP, S.A.'s treasury stock (thousand Euros) 196,233 62,166 196,233 62,166 Shares transactions occurred between 1 January and 31 December 2025: EDP S.A. Volume acquired (number of shares) 32,400,000 Average purchase price (in Euros) 3.085 Total purchases (thousand Euros) 99,965 Volume sold (number of shares) i) -2,388,403 Average selling price (in Euros) 3.252 Total sales (thousand Euros) i) 7,767 Final position (number of shares) 50,123,439 Highest market price (in Euros) 3.448 Lowest market price (in Euros) 2.898 Average market price (in Euros) 3.097 i) Includes the distribution of treasury stocks to employees (see note 10). EDP Integrated Annual Report 2025 Financial Statements and Notes Index 381
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The treasury stock held by EDP, S.A. is within the limits established by the Company's articles of association and by the "Código das Sociedades Comerciais" (Portuguese Commercial Companies Code). Treasury stock is recognised at acquisition cost. On 26 February 2025, EDP announced to the market a Share Buyback program of 100 million Euros, on the regulated market of Euronext Lisbon, from that date over a maximum period of 3 months. During the first semester of 2025, EDP executed the acquisition of 32,400,000 shares for a total amount of 99,965 thousand Euros, with a price ranging between 3.320 and 2.898 Euros per share. 32. Reserves and retained earnings This caption is as follows: Group Company Thousand Euros Dec 2025 Dec 2024 Dec 2025 Dec 2024 Legal reserve 836,804 836,804 836,804 836,804 Fair value reserve (cash flow hedge) -25,184 -206,417 23,027 16,828 Tax effect of fair value reserve (cash flow hedge) 24,848 62,068 -3,951 -3,402 Fair value reserve of assets measured at fair value through other comprehensive income 1,495 -5,651 — — Tax effect of the fair value reserve of assets measured at fair value through other comprehensive income -2,352 -479 — — Currency translation reserve - Exchange differences arising on consolidation -1,408,149 -452,485 — — Currency translation reserve - Net investment hedge -536,689 -886,523 — — Currency translation reserve - Net investment hedge - Cost of hedging -50,204 20,845 — — Treasury stock reserve (EDP, S.A.) (see note 31) 156,588 63,033 156,588 63,033 Other reserves and retained earnings 5,196,405 5,223,872 2,001,357 2,102,166 4,193,562 4,655,067 3,013,825 3,015,429 Legal reserve In accordance with article no. 295 of "Código das Sociedades Comerciais" (Portuguese Commercial Companies Code) and EDP, S.A.'s articles of association, the legal reserve must be increased by a minimum of 5% of the annual profit until it reaches 20% of the company’s share capital. This reserve can only be used to cover losses or to increase share capital. Fair value reserve (cash flow hedge) This reserve includes the effective portion of the cumulative net change in the fair value of the cash flow hedging financial derivative instruments. The variation in the caption Fair value reserve (cash flow hedge) reflects, essentially, the impact of price fluctuations in the indexes associated with electricity and gas, which reflect the current evolution on the market. The reconciliation of the fair value reserve is included in note 42. Fair value reserve (financial assets at fair value through other comprehensive income) The changes in this consolidated caption for the period are as follows: Fair Value Reserve Thousand Euros Dec 2024 Increases Decreases Dec 2025 Defined Crowd Corporation (see note 22) -1,193 — — -1,193 Mercer and Dunas Funds (Energia RE portfolio) (see note 22) 10,285 7,038 — 17,323 Lhyfe S.A.S (see note 22) -11,876 — -147 -12,023 Other (see note 22) 1,209 2,654 -1,198 2,665 Associate portfolios -4,076 — -1,201 -5,277 -5,651 9,692 -2,546 1,495 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 382
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Currency translation reserve - Exchange differences arising on consolidation The caption Exchange differences arising on consolidation corresponds to the amounts resulting from changes in the value of net assets of subsidiaries, joint ventures and associated companies resulting from changes in exchange rates. The exchange rates used in the preparation of the financial statements are as follows: Exchange rates Dec 2025 Dec 2024 Thousand Euros Close Average Close Average US Dollar USD 1.175 1.130 1.039 1.082 Brazilian Real BRL 6.436 6.307 6.425 5.828 Macao Pataca MOP 9.421 9.074 8.311 8.699 Canadian Dollar CAD 1.609 1.579 1.495 1.482 Singapore Dollar SGD 1.511 1.476 1.416 1.446 Polish Zloty PLN 4.227 4.240 4.273 4.307 Romanian Leu RON 5.099 5.043 4.974 4.975 Pound Sterling GBP 0.873 0.857 0.829 0.847 Mexican Peso MXN 21.147 21.666 21.524 19.830 Colombian Peso COP 4,412.503 4,575.386 4,565.675 4,406.262 Chinese Yuan CNY 8.226 8.119 7.583 7.787 Korean Won KRW 1,696.940 1,605.452 1,532.150 1,475.404 Japanese Yen JPY 184.090 169.043 163.060 163.852 Australian Dollar AUD 1.758 1.752 1.677 1.640 Indonesian Rupiah IDR 19,640.830 18,623.058 16,820.880 17,157.677 Malaysian Ringgit MYR 4.768 4.834 4.645 4.950 Thai Baht THB 37.218 37.116 35.676 38.181 Vietnamese Dong VND 31,402.000 29,973.066 26,958.000 27,580.574 Hungarian Forint HUF 385.150 397.767 411.350 395.304 The movement for the period in Exchange differences arising on consolidation is mainly due to the effect of the depreciation of the US Dollar against the Euro. Currency translation reserves - Net investment hedge and Cost of hedging The changes in these captions, net of income tax, for the period are as follows : Thousand Euros Net investment hedge Cost of hedging Balance as at 31 December 2024 -886,523 20,845 Changes in fair value 363,160 -71,049 Transfer to income statement resulting from the sale of a foreign currency subsidiary -13,326 — Balance as at 31 December 2025 -536,689 -50,204 The caption Net investment hedge corresponds to the amounts resulting from the application of hedge accounting to investments in subsidiaries in foreign currencies, mainly in EDPR North America subsidiaries, through financial derivative instruments (see note 42) and debt in foreign currency. The caption Cost of hedging corresponds to the amounts determined in accordance with accounting policies (see note 2 d)). Treasury stock reserve (EDP, S.A.) I n a c c o r d a n c e w i t h t h e a r t i c l e 3 2 4 º o f " C ó d i g o d a s S o c i e d a d e s C o m e r c i a i s " ( P o r t u g u e s e C o m m e r c i a l Companies Code), EDP, S.A. has created an unavailable reserve with an amount equal to the book value amount of treasury stock held in the company statements. Dividends On 10 April 2025, the Shareholders General Meeting of EDP, S.A. approved the distribution of dividends to shareholders out of the net profit for the 2024 financial year, in the amount of 836,804 thousand Euros, corresponding to a dividend of 0.20 Euros per share (including the treasury stock dividend). This distribution occurred on 06 May 2025. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 383
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33. Non-controlling interests This caption is as follows: Group Thousand Euros Dec 2025 Dec 2024 Non-controlling interests in income statement 202,977 24,410 Non-controlling interests in equity and reserves 4,961,534 4,632,882 5,164,511 4,657,292 The movement by subgroup of the non-controlling interests item is analysed as follows: Thousand Euros EDP Renováveis Group EDP Brasil Group Other Total Balance as at 31 December 2024 4,261,178 178,855 217,259 4,657,292 Income statement 135,229 31,630 36,118 202,977 Dividends -63,413 -36,498 -195 -100,106 Currency exchange differences -378,080 2,750 — -375,330 Capital Increases/decreases -73,189 — 2,960 -70,229 Changes in the fair value reserve 47,269 — -163 47,106 Perimeter variations and others 811,272 -9,628 1,157 802,801 Balance as at 31 December 2025 4,740,266 167,109 257,136 5,164,511 The movement in Perimeter variations and others essentially reflects changes, without loss of control, in shareholdings in wind farms in North America, in the amount of 765,650 thousand Euros (see note 6). The summarised financial information for subsidiaries with material non-controlling interests, namely EDP Brasil and EDP Renováveis, as at 31 December 2025, is disclosed in the Annex I. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 384
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34. Financial debt This caption is as follows: Group Company Thousand Euros Dec 2025 Dec 2024 Dec 2025 Dec 2024 Financial Debt - Non-current Bank loans: - EDP, S.A. 98,898 99,549 98,898 99,549 - EDP Finance B.V. 803,587 831,258 — — - EDP Servicios Financieros España, S.A.U. 432,763 225,000 — — - EDP Brasil Group 6,631 36,786 — — - EDP Renováveis Group 1,123,549 1,032,994 — — - Others 2,016 2,824 — — 2,467,444 2,228,411 98,898 99,549 Non-convertible bond loans: - EDP S.A. 1,496,860 2,044,664 2,996,860 3,044,664 - EDP Finance B.V. 3,277,001 4,731,231 — — - EDP Servicios Financieros España, S.A.U. 3,328,095 2,082,765 — — - EDP Brasil Group 1,769,247 1,298,511 — — - EDP Renováveis Group — 116,444 — — 9,871,203 10,273,615 2,996,860 3,044,664 Hybrid bonds: - EDP S.A. 5,952,503 5,446,263 5,952,503 5,446,263 5,952,503 5,446,263 5,952,503 5,446,263 Commercial paper: - EDP Finance B.V. 404,255 457,214 — — 404,255 457,214 — — Other loans 11,103 17,644 — — 18,706,508 18,423,147 9,048,261 8,590,476 Accrued interest 4,397 — — — Fair value of the issued debt hedged risk -12,123 -6,961 -300 4,908 Total Financial Debt - Non-current 18,698,782 18,416,186 9,047,961 8,595,384 Collateral Deposits - Non-current * -39,394 -21,937 — — 18,659,388 18,394,249 9,047,961 8,595,384 Group Company Thousand Euros Dec 2025 Dec 2024 Dec 2025 Dec 2024 Financial Debt - Current Bank loans: - EDP, S.A. — 1,667 — 1,667 - EDP Finance B.V. 3,346 — — — - EDP Brasil Group 256,986 319,808 — — - EDP Renováveis Group 217,490 196,476 — — - Other 404 445 — — 478,226 518,396 — 1,667 Non-convertible bond loans: - EDP S.A. 548,980 — 548,980 799,020 - EDP Finance B.V. 1,344,457 1,343,724 — — - EDP Brasil Group 228,232 348,562 — — - EDP Renováveis Group 116,464 — — — 2,238,133 1,692,286 548,980 799,020 Hybrid bonds: - EDP, S.A. ** -5,379 — -5,379 — -5,379 — -5,379 — Commercial paper: - EDP S.A — 40,000 — 40,000 - EDP Finance B.V. — 666,575 — — — 706,575 — 40,000 Other loans - Group Financial System (see note 44) — — 2,647,390 1,994,391 - Other 426 2,175 — — 426 2,175 2,647,390 1,994,391 Accrued interest 376,340 307,097 156,095 153,190 Fair value of the issued debt hedged risk 4,361 8,120 4,523 10,493 Total Financial Debt - Current 3,092,107 3,234,649 3,351,609 2,998,761 Collateral Deposits - Current * -31,658 -20,632 — — 3,060,449 3,214,017 3,351,609 2,998,761 * Deposits constituted as collateral for financial guarantee. ** Deferral of hybrid bond origination fees. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 385
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Non-current Commercial Paper refers to two Commercial Paper programs with firm underwriting commitment for a period of over one year, in the total amount of 475,000 thousand US Dollars. Main events of the period: On 13 January 2025, under its "Debt Issuance Program (EMTN)", EDP Servicios Financieros España, S.A.U. issued a green bond of 750 million Euros, maturing in July 2031. On 20 May 2025, under its "Debt Issuance Program (EMTN)", EDP, S.A. issued a green subordinated hybrid bond loan in the amount of 750 million Euros, with a call option exercisable by EDP 6.75 years after the issuance, and maturing in May 2055. In July 2025, EDP S.A. proceeded with the early redemption, on the First call date, of an issue called "EUR 750,000,000 Fixed to Reset Rate Subordinated Notes due 2080". On 27 August 2025, under its "Debt Issuance Program (EMTN)", EDP Servicios Financieros España, S.A.U. issued a green bond of 500 million Euros, maturing in December 2031. On 24 November 2025, EDP S.A., under its "Debt Issuance Program (EMTN)", issued a green subordinated hybrid bond loan in the amount of 1,000 million Euros, with a call option exercisable by EDP 7 years after the issuance, and maturing in December 2055. In December 2025, EDP S.A. proceeded with the early redemption of an issue called “EUR 1,000,000,000 Fixed to Reset Rate Subordinated Instruments due 2083” in the amount of 498,800 thousand Euros. The nominal value of outstanding Bond loans placed with external counterparties, as at 31 December 2025, is as follows: Issuer Issue date Interest rate Type of hedge Conditio ns/ Redemp. Nominal Value in Million Currency Thousand Euros Group Company Hybrids by EDP S.A. EDP S.A. (iv) Jan-21 Fixed Rate EUR 1.875% (iii) n.a. Aug-81 750 EUR 750,000 750,000 EDP S.A. (v) Sep-21 Fixed Rate EUR 1.5% (iii) n.a. Mar-82 750 EUR 750,000 750,000 EDP S.A. (vi) Sep-21 Fixed Rate EUR 1.875% (iii) n.a. Mar-82 500 EUR 500,000 500,000 2,000,000 2,000,000 Issued under a Standalone Prospectus EDP S.A. Jun-16 Fixed rate EUR 2.875% n.a. Jun-26 400 EUR 400,000 400,000 EDP S.A. Jul-16 Fixed rate EUR 2.875% n.a. Jun-26 150 EUR 150,000 150,000 550,000 550,000 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 386
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Issuer Issue date Interest rate Type of hedge Conditio ns/ Redemp. Nominal Value in Million Currency Thousand Euros Group Company Issued under the Euro Medium Term Notes program (EMTN) Hybrids by EDP S.A. EDP S.A. (x) Jan-23 Fixed rate EUR 5.943% (iii) n.a. Apr-83 501 EUR 501,200 501,200 EDP S.A. (xi) May-24 Fixed rate EUR 4.75% (iii) n.a. May-54 750 EUR 750,000 750,000 EDP S.A. (xii) Sep-24 Fixed rate EUR 4.625% (iii) n.a. Sep-54 1,000 EUR 1,000,000 1,000,000 EDP S.A. (xiii) May-25 Fixed rate EUR 4.5% (iii) n.a. May-55 750 EUR 750,000 750,000 EDP S.A. (xiv) Dec-25 Fixed rate EUR 4.375% (iii) n.a. Dec-55 1,000 EUR 1,000,000 1,000,000 Senior Debt EDP Finance B.V. Nov-17 Fixed rate EUR 1.5% Net Invest. (i)(vii) Nov-27 500 EUR 500,000 — EDP Finance B.V. Jun-18 Fixed rate EUR 1.625% n.a. Jan-26 750 EUR 750,000 — EDP Finance B.V. Sep-19 Fixed rate EUR 0.375% Net Invest. (i)(vii) Sep-26 600 EUR 600,000 — EDP S.A. Apr-20 Fixed rate EUR 1.625% n.a. Apr-27 750 EUR 750,000 750,000 EDP Finance B.V. Sep-20 Fixed rate USD 1.71% Net Invest. Jan-28 850 USD 818,173 — EDP Finance B.V. Mar-22 Fixed rate EUR 1.875% Net Invest. (i)(vii) Sep-29 1,250 EUR 1,250,000 — EDP Finance B.V. Oct-22 Fixed rate EUR 3.875% Net Invest. (i) Mar-30 500 EUR 500,000 — EDP Finance B.V. Oct-22 Fixed rate USD 6.3% Net Invest. (i)(ii) Oct-27 133 USD 128,137 — EDP S.A. Jun-23 Fixed rate EUR 3.875% (ix) Jun-28 750 EUR 750,000 750,000 EDP SFE Oct-23 Fixed rate EUR 4.375% n.a. Apr-32 750 EUR 750,000 — EDP SFE Oct-23 Fixed rate EUR 4.125% (ix) Apr-29 600 EUR 600,000 — EDP SFE Jan-24 Fixed rate EUR 3.5% n.a. Jul-30 750 EUR 750,000 — EDP Finance B.V. (viii) Nov-24 Fixed rate EUR 3.125% n.a. May-30 200 EUR 200,000 — EDP SFE Jan-25 Fixed rate EUR 3.5% n.a. Jul-31 750 EUR 750,000 — EDP SFE Aug-25 Fixed rate EUR 3.125% n.a. Dec-31 500 EUR 500,000 — 13,597,510 5,501,200 (i) These issuances are associated with interest rate and/or currency swaps; (ii) Consolidated nominal value after the repurchase of securities by EDP SFE; (iii) Fixed rate until the first reset date, subsequently updated every 5 years; (iv) There is a call option exercisable at par by EDP from May 2026 until August 2026 (first reset date) and subsequently, on each interest payment date; (v) There is a call option exercisable at par by EDP from December 2026 until March 2027 (first reset date) and subsequently, on each interest payment date; (vi) There is a call option exercisable at par by EDP from June 2029 until September 2029 (first reset date) and subsequently, on each interest payment date; (vii) These issuances by EDP Finance B.V. are partially associated with interest rate and currency swaps; (viii)These issuances correspond to private placements; (ix) These issuances are associated with fixed-to-floating interest rate swaps, for the amount of 200 million Euros, which are classified as fair value hedges, and therefore the corresponding amount of the debt is registered at fair value; (x) There is a call option exercisable at par by EDP from January 2028 until April 2028 (first reset date) and subsequently, on each interest payment date; (xi) There is a call option exercisable at par by EDP from February 2030 until May 2030 (first reset date) and subsequently, on each interest payment date; (xii) There is a call option exercisable at par by EDP from December 2030 until March 2031 (first reset date) and subsequently, on each interest payment date; (xiii) There is a call option exercisable at par by EDP from November 2031 until February 2032 (first reset date) and subsequently, on each interest payment date; (xiv) There is a call option exercisable at par by EDP from December 2032 until March 2033 (first reset date) and subsequently, on each interest payment date. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 387
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Issuer Issue date Interest rate Type of hedge Conditions / Redemp. Nominal Value in Million Currency Thousand Euros Group Company Issued by the EDP Energias do Brasil Group in the Brazilian domestic market EDP São Paulo Feb-21 IPCA + 3.91% Fair Value (i) Jan-26 350 BRL 54,378 — Lajeado Energia Jun-21 CDI + 0.90% n.a. Jun-27 150 BRL 23,305 — EDP São Paulo Jun-21 CDI + 1.25% n.a. Jul-26 117 BRL 18,178 — EDP São Paulo Dec-21 CDI + 1.38% n.a. Dec-26 150 BRL 23,305 — PCH Leopoldina Jan-22 CDI + 1.40% n.a. Jan-29 700 BRL 108,756 — EDP São Paulo Jun-22 CDI + 1.20% n.a. May-27 300 BRL 46,610 — EDP Espírito Santo Feb-24 CDI + 0.90% n.a. Feb-28 500 BRL 77,683 — EDP Trading Feb-24 IPCA + 6.05% Fair Value (i) Feb-34 575 BRL 89,336 — EDP São Paulo Mar-24 CDI + 0.89% n.a. Mar-28 350 BRL 54,378 — EDP São Paulo Jun-24 CDI + 0.68% n.a. Jun-28 750 BRL 116,525 — EDP Espírito Santo Sep-24 CDI + 0.49% n.a. Aug-29 800 BRL 124,293 — EDP Espírito Santo Sep-24 CDI + 0.56% n.a. Aug-31 400 BRL 62,147 — EDP São Paulo Dec-24 IPCA + 7.28% n.a. Dec-36 800 BRL 124,293 — EDP Espírito Santo Dec-24 IPCA + 7.28% n.a. Dec-36 500 BRL 77,683 — Enerpeixe Dec-24 CDI + 0.89% n.a. Dec-29 600 BRL 93,220 — EDP Espírito Santo Jul-25 CDI + 0.58% n.a. Jun-32 600 BRL 93,220 — EDP Espírito Santo Jul-25 CDI + 0.5% n.a. Jun-30 600 BRL 93,220 — EDP São Paulo Jul-25 CDI + 0.47% n.a. Jun-30 400 BRL 62,147 — EDP São Paulo Oct-25 CDI n.a. Oct-32 400 BRL 62,147 — EDP Transmissão Nordeste Oct-25 CDI + 0.44% n.a. Oct-28 1,200 BRL 186,440 — EDP Transmissão Goiás Dec-25 CDI + 0.52% n.a. Dec-30 900 BRL 139,830 — EDP Transmissão Goiás Dec-25 CDI + 0.6% n.a. Dec-32 450 BRL 69,915 — EDP São Paulo Dec-25 CDI + 0.63% n.a. Dec-30 1,000 BRL 155,366 — EDP São Paulo Dec-25 CDI + 0.73% n.a. Dec-32 150 BRL 23,305 — 1,979,678 — Issued by the EDP Renováveis Brasil in the Brazilian domestic market EDPR Brasil Sep-24 CDI + 0.45% n.a. Sep-26 750 BRL 116,525 — 116,525 — 18,243,713 8,051,200 (i) This issuance is associated with an interest rate swap from IPCA to CDI. Some of the loans contracted by the EDP Group, mainly debt issued under the EMTN, include some usual clauses in this type of operations, namely, "change-of-control", "negative pledge", "pari-passu" and "cross-default" clauses, each one only applicable under a restricted set of circumstances. The Group has project finance funding that include the usual guarantees on this type of financings, namely the pledge or a promise of pledge of bank accounts and assets of the related projects. As of 31 December 2025, these financings amount to 1,028,928 thousand Euros (31 December 2024: 1,008,518 thousand Euros), within the financial debt caption. At 31 December 2025 the Group confirms the fulfilment of all the covenants of the Project Finance Portfolio under the Facilities Agreements. As at 31 December 2025, the Group has the following credit facilities, all of which with underwriting commitments, which it uses for liquidity management: Million Units Maximum Amount Available Amount Maturity Revolving Credit Facility 4,250 EUR 4,250 EUR 2029 Revolving Credit Facility 3,000 EUR 3,000 EUR 2030 Credit Lines (spread conditions agreed in advance indexed to Euribor and Ester) 255 EUR 255 EUR Renewable Commercial Paper Programmes 363 USD - USD 2030 Commercial Paper Programmes 113 USD - USD 2029 Commercial Paper Programmes 200 EUR 200 EUR 2028 EDP extended the maturity of the 200 million Euros Commercial Paper Programme, signed in 2022, to February 2028, and extended the maturity of the 3,000 million Euros Revolving Credit Facility, signed in 2023, to July 2030. The loans with the European Investment Bank remain available as at 31 December 2025, totalling 1,000 million Euros. The loans with Unicaja and Royal Bank of Canada, both signed in 2025 and totalling 50 million Euros and 200 million US Dollars, respectively, have been fully disbursed. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 388
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As at 31 December 2025, future debt and interest payments and origination fees, by type of loan and currency, are as follows: Thousand Euros Dec 2026 Dec 2027 Dec 2028 Dec 2029 Dec 2030 Following years Total Bank loans: Euro 34,914 365 80,347 395,336 50,033 935 561,930 Brazilian Real 309,699 36,435 39,241 42,928 45,392 429,312 903,007 US Dollar 40,070 242,298 50,697 49,423 19,468 80,765 482,721 Singapore Dollar 11,633 2,382 664,415 2,382 2,382 9,132 692,326 Other 125,398 22,341 28,597 36,191 27,344 136,156 376,027 521,714 303,821 863,297 526,260 144,619 656,300 3,016,011 Bond loans: Euro 2,040,326 1,250,000 750,000 1,850,000 1,450,000 2,000,000 9,340,326 Brazilian Real 404,061 297,786 442,013 282,249 200,682 566,855 2,193,646 US Dollar 6,981 113,295 723,404 — — — 843,680 2,451,368 1,661,081 1,915,417 2,132,249 1,650,682 2,566,855 12,377,652 Hybrid Bonds: Euro 120,232 — — — — 6,001,200 6,121,432 120,232 — — — — 6,001,200 6,121,432 Commercial paper: US Dollar 5,527 — — 95,745 308,511 — 409,783 5,527 — — 95,745 308,511 — 409,783 Other loans: Euro 1,973 — — — — 6 1,979 Brazilian Real 201 — — — — 10,078 10,279 Other 127 — — — — 1,018 1,145 2,301 — — — — 11,102 13,403 Fair Value 4,361 — — — — -12,123 -7,762 Origination Fees -13,396 -2,171 -4,328 -11,842 -12,790 -95,103 -139,630 3,092,107 1,962,731 2,774,386 2,742,412 2,091,022 9,128,231 21,790,889 As at 31 December 2024, future debt and interest payments and origination fees, by type of loan and currency, are as follows: Thousand Euros Dec 2025 Dec 2026 Dec 2027 Dec 2028 Dec 2029 Following years Total Bank loans: Euro 57,297 403 365 75,347 395,336 1,373 530,121 Brazilian Real 352,582 31,825 32,166 34,883 38,188 300,919 790,563 US Dollar 54,680 23,875 82,815 58,600 57,159 124,190 401,319 Singapore Dollar 11,844 2,541 2,541 708,556 2,541 12,279 740,302 Other 59,419 22,504 23,240 29,963 38,135 159,932 333,193 535,822 81,148 141,127 907,349 531,359 598,693 2,795,498 Bond loans: Euro 1,487,087 1,900,000 1,250,000 750,000 1,850,000 2,200,000 9,437,087 Brazilian Real 388,402 409,317 329,909 269,211 97,272 322,005 1,816,116 US Dollar 7,895 — 128,137 818,173 — — 954,205 1,883,384 2,309,317 1,708,046 1,837,384 1,947,272 2,522,005 12,207,408 Hybrid Bonds: Euro 99,382 — — — — 5,500,000 5,599,382 99,382 — — — — 5,500,000 5,599,382 Commercial paper: Euro 490,030 — — — — — 490,030 US Dollar 220,840 — — — 108,288 348,927 678,055 710,870 — — — 108,288 348,927 1,168,085 Other loans: Euro 1,796 100 — — — 6 1,902 Brazilian Real 1,022 — — — — 9,736 10,758 US Dollar 1,121 — — — — — 1,121 Other 133 — — — — 7,801 7,934 4,072 100 — — — 17,543 21,715 Fair Value: 8,120 — — — — -6,961 1,159 Origination Fees: -7,001 -2,221 -3,266 -6,643 -19,008 -104,273 -142,412 3,234,649 2,388,344 1,845,907 2,738,090 2,567,911 8,875,934 21,650,835 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 389
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As at 31 December 2025,, future debt and interest payments and origination fees, by type of loan, fully denominated in Euros, on an individual basis, are as follows: Thousand Euros Dec 2026 Dec 2027 Dec 2028 Dec 2029 Dec 2030 Following years Total Bank loans 1,147 — — 100,000 — — 101,147 Bond loans 584,716 1,750,000 750,000 — — 500,000 3,584,716 Hybrid Bonds 120,232 — — — — 6,001,200 6,121,432 Other loans 2,647,390 — — — — — 2,647,390 Fair Value 4,523 — — — — -300 4,223 Origination Fees -6,399 — — — — -52,939 -59,338 3,351,609 1,750,000 750,000 100,000 — 6,447,961 12,399,570 As a 31 December 2024, future debt and interest payments and origination fees, by type of loan, fully denominated in Euros, on an individual basis, are as follows: Thousand Euros Dec 2025 Dec 2026 Dec 2027 Dec 2028 Dec 2029 Following years Total Bank loans 3,553 — — — 100,000 — 103,553 Bond loans 851,892 550,000 1,750,000 750,000 — — 3,901,892 Hybrid Bonds 99,382 — — — — 5,500,000 5,599,382 Commercial paper 40,030 — — — — — 40,030 Other loans 1,994,391 — — — — — 1,994,391 Fair Value 10,493 — — — — 4,908 15,401 Origination Fees -980 — — — — -59,524 -60,504 2,998,761 550,000 1,750,000 750,000 100,000 5,445,384 11,594,145 In accordance with the Group's accounting policies, the financial liabilities whose risks are being hedged by derivative financial instruments and that comply with hedge accounting requirements of IFRS 9, are accounted at fair value. The financial liabilities are booked at amortised cost. The Group aims to promote greater alignment between its financial policy and its sustainability strategy, increasing market awareness for this topic. In this regard, since 2018, the year in which the first green debt issuance was made, the Group has been prioritising financing through green financial instruments for the development or acquisition of renewable generation assets. As of 31 December 2025, sustainable financing accounted for 80% of nominal debt, with the Group targeting 60% of its financing from sustainable sources by 2026 (see note 48). EDP Integrated Annual Report 2025 Financial Statements and Notes Index 390
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35. Employee benefits Non-current Current Thousand Euros Dec 2025 Dec 2024 Dec 2025 Dec 2024 Provisions for pension liabilities 58,561 57,724 23,769 25,256 Provisions for medical liabilities and other benefits 315,204 331,083 25,517 28,476 373,765 388,807 49,286 53,732 The movement in Provisions for employee benefits liabilities for EDP Group is as follows: Pensions Medical and Other Thousand Euros Dec 2025 Dec 2024 Dec 2025 Dec 2024 Balance at the beginning of the period 82,980 261,162 359,559 403,707 Charge for the period -371 5,213 19,182 19,617 Past service cost (Curtailment/Plan amendments) 11,531 15,847 8,372 5,645 Actuarial (gains)/losses -31,295 -90,712 -84,308 -67,742 Charge-off -26,276 -84,890 -32,853 -33,839 Fund contributions — — — -11,169 Surplus pension funding (see note 27) 46,485 -18,136 71,965 60,875 Transfers. reclassifications and exchange differences -724 -5,504 -1,196 -17,535 Balance at the end of the period 82,330 82,980 340,721 359,559 The breakdown of actuarial gains and losses is as follows: Pensions Medical and Other Thousand Euros Dec 2025 Dec 2024 Dec 2025 Dec 2024 Actuarial gains and losses arising from: - changes in financial assumptions -7,983 -46,204 -44,247 -35,354 - experience adjustments 20,211 -7,591 -10,025 7,469 Actuarial gains and losses arising from return on plan assets -29,138 -41,887 -30,036 -39,857 Actuarial gains and losses of asset ceiling -14,385 4,970 — — -31,295 -90,712 -84,308 -67,742 The components of the consolidated net cost of the pension plans recognised during the period are as follows: Dec 2025 Thousand Euros Portugal Spain Brazil Group Current service cost (see note 10) 1,383 — -140 1,243 Past service cost (Curtailment/Plan amendments) (see note 10) 11,531 — — 11,531 Operational component 12,914 — -140 12,774 Net interest on the net pensions plan liability (see note 13) -3,457 — 1,843 -1,614 Financial component -3,457 — 1,843 -1,614 9,457 — 1,703 11,160 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 391
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Dec 2024 Thousand Euros Portugal Spain Brazil Group Current service cost (see note 10) 1,675 — -161 1,514 Past service cost (Curtailment/Plan amendments) (see note 10) 15,847 — — 15,847 Operational component 17,522 — -161 17,361 Net interest on the net pensions plan liability (see note 13) 461 — 3,238 3,699 Financial component 461 — 3,238 3,699 17,983 — 3,077 21,060 The components of the consolidated net cost of the medical and other benefits plans recognised during the period are as follows: Dec 2025 Thousand Euros Portugal Spain Brazil Group Current service cost (see note 10) 2,784 862 66 3,712 Past service cost (Curtailment/Plan amendments) (see note 10) 4,807 3,565 — 8,372 Operational component 7,591 4,427 66 12,084 Net interest on the net medical liabilities and other benefits (see note 13) 2,119 3,632 9,719 15,470 Financial component 2,119 3,632 9,719 15,470 9,710 8,059 9,785 27,554 Dec 2024 Thousand Euros Portugal Spain Brazil Group Current service cost (see note 10) 2,442 403 -1,633 1,212 Past service cost (Curtailment/Plan amendments) (see note 10) 523 5,122 — 5,645 Operational component 2,965 5,525 -1,633 6,857 Net interest on the net medical liabilities and other benefits (see note 13) 4,789 4,028 9,588 18,405 Financial component 4,789 4,028 9,588 18,405 7,754 9,553 7,955 25,262 In accordance with accounting policies - note 2 m), the EDP Group opted, upon transition to IFRS, to charge to reserves, the total amount of the deferred actuarial losses existing at that date, for the several employee benefits plans. The impact in reserves at 31 December 2004 amounted to 1,162,000 thousand Euros. In the following periods, actuarial gains and losses were recognised directly in reserves. As at 31 December 2025 gains of 115,603 thousand Euros (31 December 2024: gains of 158,454 thousand Euros). The weighted average duration of the defined benefit liabilities in Portugal is 10 years. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 392
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Assumptions used to determine EDP Group liabilities related to employee benefits The following financial and actuarial assumptions used in the calculation of the liability for employees defined benefit plans, were updated considering the evolutions occurred in the financial markets during 2025 and 2024: Dec 2025 Dec 2024 Portugal Spain Brazil Portugal Spain Brazil Assumptions Discount rate 3.71% - 4.23% 4.15% 10.78% - 13.92% 3.40% - 3.54% 3.30% 8.41% - 11.42% Salary increase rate 2.50% (b) 2.00% 4.30% 3.00% (f) 2.00% 4.30% Pension increase rate 2.40% (c) 2.00% 3.50% 2.75% (g) not applicable 3.50% Social Security salary appreciation 2.40% (c) not applicable 3.50% 2.60% (h) not applicable 3.50% Inflation rate 2.00% 2.00% 3.50% 2.00% 2.00% 3.50% Annual increase rate of medical service costs 2.00% 2.50% 9.71% (d) 2.60% 2.50% 9.71% (i) Estimated administrative expenses per beneficiary per year (Euros) 310 €/year (e) not applicable not applicable 358 €/year (e) not applicable not applicable Mortality table TV99/01 PERM/ F-2000P AT-2000 / RP-2000 Geracional TV99/01 PERM/ F-2000P AT-2000 / RP-2000 Geracional Disability table 50%EKV 80 not applicable TASA 1927 / Wyatt 1985 50%EKV 80 not applicable TASA 1927 / Wyatt 1985 Expected % of eligible employees accepting early retirement (a) 20.00% not applicable not applicable 20.00% not applicable not applicable (a) Employees entitled to early retirement, as stated in the Collective Labour Agreement: 37 years of service with at least 61 years of age or 40 years of service, regardless of age. (b) 2.50% until 2030 and 2.25% for the following years. (c) 2.40% for 2026 and 2.00% for the remaining years. (d) 9.71% in 2025, decreasing linearly to 5.57% in 2034. (e) Increase according to the annual increase rate of medical service costs after 2025. (f) 3.00% for 2025 and 2.25% for the remaining years. (g ) 2.75% for 2025 and 2.00% for the remaining years. (h) 2.60% for 2025 and 2.00% for the remaining years. (i) 9.71% in 2024, decreasing linearly to 5.57% in 2033. The discount rates used for the EDP Group pension plan were selected based on an analysis of the rates of return available on the date for the high quality corporate bonds. Bonds with maturities and ratings considered appropriate were selected considering the amount and the periods that the benefits are expected to be paid. As at 31 December 2025 the amount of future benefits expected to be paid is as follows: Thousand Euros Pensions Medical and Other Benefits Years Portugal Spain Brazil Total Portugal Spain Brazil Total 2026 90,106 93 19,386 109,585 37,038 5,745 8,063 50,846 2027 76,478 78 19,936 96,492 36,211 5,559 8,447 50,217 2028 65,770 60 20,480 86,310 36,149 5,514 8,884 50,547 2029 57,681 54 20,997 78,732 36,176 5,706 9,285 51,167 2030 and following 245,544 217 136,106 381,867 213,634 60,227 62,710 336,571 In 2025, the benefits paid by the funds in Portugal amounted 114,766 thousand Euros (31 December 2024: 69,659 thousand Euros) and in Brazil amounted to 18,422 thousand Euros (31 December 2024: 18,967 thousand Euros). The contributions made to the Pension funds in Brazil amounted to 9,173 thousand Euros (31 December 2024: 8,218 thousand Euros), which were fully paid in cash. The Pension Plans in Portugal, Spain and Brazil are subject to several risks, in which are included the risk of changes in market rates (which impacts the discount rate and the fixed rate of return rate on assets), the risk of changes on the expected lifetime of plan participants, the risk of changes on the pension EDP Integrated Annual Report 2025 Financial Statements and Notes Index 393
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increase rate and the risk of changes on the social security pension increase, to which are made the following sensitivity analysis for the liabilities at the end of the period: Portugal Spain Brazil Thousand Euros Increase Decrease Increase Decrease Increase Decrease Discount rate (0.5% movement) -18,537 19,764 -16 17 -7,815 8,411 Mortality (increase of 1 year in expected lifetime of plan participants) 23,036 — 3,479 The solvency level of the fund for the financing of pension plan liabilities in Portugal may vary not only from the risks described above, but also from the performance of the different classes of assets that comprise it. Considering the nature of the defined benefit of the plan and despite the fund's low risk profile (mostly composed of fixed income assets), the joint materialization of adverse risks (including those above referred) may lead to the need for additional contributions to the fund. The medical care and other benefits Plans in Portugal, Spain and Brazil are subject to several risks, in which are included the risk of changes in market rates (which impacts the discount rate and the fixed rate of return rate on assets), the risk of changes in the health care costs and the risk of changes on the expected lifetime of plan participants, to which are made the following sensitivity analysis for the liabilities at the end of the period: Portugal Spain Brazil Thousand Euros Increase Decrease Increase Decrease Increase Decrease Discount rate (0.5% movement) -26,823 29,246 -6,533 5,496 -5,618 1,818 Health care cost trend (0.5% movement) 9,022 -8,422 -230 -1,386 — — Mortality (increase of 1 year in expected lifetime of plan participants) 7,476 1,689 1,214 The level of solvency of the fund for the financing of post-employment medical care liabilities in Portugal may vary not only from the risks described above, but also from the performance of the different classes of assets that comprise it. Considering the nature of the defined benefit of the plan and despite the fund's low risk profile (mostly composed of fixed income assets), the joint materialization of adverse risks (including those above referred) may lead to changes in the financing plan approved by ASF. Composition of the assets portfolio funds The assets of the pension funds, medical care and death subsidy in Portugal are as follows: Fund assets by nature Thousand Euros Liquidity Bonds Shares Property Other Total 31 December 2025 -4,679 675,773 350,983 269,752 48,085 1,339,914 31 December 2024 7,958 649,118 446,756 188,701 46,381 1,338,914 Fund assets by nature % Liquidity Bonds Shares Property Other Total 31 December 2025 -0.35 % 50.43 % 26.19 % 20.14 % 3.59 % 100.00 % 31 December 2024 0.59 % 48.48 % 33.37 % 14.10 % 3.46 % 100.00 % The portfolio of shares and bonds have a quoted market price in an active market. Properties included in the fund, that are being used by the Group amount to 269,752 thousand Euros as at 31 December 2025 (31 December 2024: 186,533 thousand Euros). Bonds includes 2,324 thousand Euros (31 December 2024: 4,049 thousand Euros) relating to bonds issued by EDP Finance B.V., EDP Servicios Financieros España, S.A.U. and EDP, S.A. The real return rate on assets of the pension Fund in 2025 was positive in 9.06% (2024: positive in 10.98%). EDP Integrated Annual Report 2025 Financial Statements and Notes Index 394
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The assets of the pension fund in Brazil are as follows: Fund assets by nature Thousand Euros Liquidity Bonds Shares Property Other Total 31 December 2025 — 211,120 1,831 — 4,043 216,994 31 December 2024 — 208,996 5,541 — 2,406 216,943 Fund assets by nature % Liquidity Bonds Shares Property Other Total 31 December 2025 — % 97.30 % 0.84 % — % 1.86 % 100.00 % 31 December 2024 — % 96.34 % 2.55 % — % 1.11 % 100.00 % The portfolio of shares and bonds have a quoted market price in an active market. The number of participants covered by the pension plans and similar obligations is as follows: 2025 2024 Portugal Spain Brazil Portugal Spain Brazil Retirees and pensioners 16,400 510 1,534 16,652 555 1,520 Active workers 1,464 7 295 1,636 37 328 17,864 517 1,829 18,288 592 1,848 The liability for retirement pensions and related coverage for the Group is as follows: Dec 2025 Thousand Euros Portugal Spain Brazil Group Liability at the end of the period 616,914 628 214,977 832,519 Plan assets at the end of the period -773,186 — -216,994 -990,180 Surplus pension funding (see note 27) 215,928 — — 215,928 Asset ceiling — — 24,063 24,063 Provision at the end of the period 59,656 628 22,046 82,330 Dec 2024 Thousand Euros Portugal Spain Brazil Group Liability at the end of the period 689,135 1,953 203,583 894,671 Plan assets at the end of the period -798,542 — -216,943 -1,015,485 Surplus pension funding (see note 27) 169,443 — — 169,443 Asset ceiling — — 34,351 34,351 Provision at the end of the period 60,036 1,953 20,991 82,980 The evolution of the present value of the plan liability and fair value of the plan assets of the related Funds is as follows: Thousand Euros 2025 2024 2023 2022 2021 Liability at the end of the period 832,519 894,671 1,058,138 1,168,207 1,477,989 Plan assets at the end of the period -990,180 -1,015,485 -1,017,228 -953,784 -1,036,108 Surplus pension funding 215,928 169,443 187,579 89,349 13,267 Asset ceiling 24,063 34,351 32,673 42,425 31,753 Provision at the end of the period 82,330 82,980 261,162 346,197 486,901 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 395
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The experience adjustments (effects of the differences between the previous actuarial assumptions and what has really occurred) for the Pension Funds in Portugal and Brazil are as follows: Thousand Euros 2025 2024 2023 2022 2021 Portugal Experience adjustments for the Plan liabilities 14,768 -12,273 -11,419 -22,796 55,794 Experience adjustments for the Plan assets -44,236 -55,958 -77,595 71,073 -79,211 Brazil Experience adjustments for the Plan liabilities 5,443 4,682 3,693 16,644 20,759 Experience adjustments for the Plan assets 15,098 14,071 2,605 -7,471 9,339 The past service liability of the pension plans for the Group is as follows: Dec 2025 Thousand Euros Portugal Spain Brazil Group Liability at the beginning of the period 689,135 1,953 203,583 894,671 Current service cost 1,383 — -140 1,243 Net interest on the pensions plan liability 20,355 — 23,943 44,298 Benefits paid -109,055 -680 -28,367 -138,102 Past service cost (Curtailment/Plan amendments) (see note 10) 11,531 — — 11,531 Actuarial (gains)/losses 4,219 -634 8,643 12,228 Transfers. reclassifications and exchange differences -654 -11 7,315 6,650 Liability at the end of the period 616,914 628 214,977 832,519 Dec 2024 Thousand Euros Portugal Spain Brazil Group Liability at the beginning of the period 794,728 1,831 261,579 1,058,138 Current service cost 1,675 — -161 1,514 Net interest on the pensions plan liability 24,896 — 27,175 52,071 Benefits paid -121,771 -565 -28,735 -151,071 Past service cost (Curtailment/Plan amendments) 15,847 — — 15,847 Actuarial (gains)/losses -26,263 671 -28,203 -53,795 Transfers. reclassifications and exchange differences 23 16 -28,072 -28,033 Liability at the end of the period 689,135 1,953 203,583 894,671 The evolution of the consolidated assets of the Pension Funds is as follows: Dec 2025 Thousand Euros Portugal Brazil Group Assets value at the beginning of the period 798,542 216,943 1,015,485 Group contribution — 9,173 9,173 Plan participants contributions — 9,569 9,569 Benefits paid -93,404 -18,422 -111,826 Interest on the pensions plan assets 23,812 22,100 45,912 Actuarial gains/(losses) 44,236 -15,098 29,138 Transfers. reclassifications and exchange differences — -7,271 -7,271 Assets value at the end of the period 773,186 216,994 990,180 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 396
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Dec 2024 Thousand Euros Portugal Brazil Group Assets value at the beginning of the period 765,363 251,865 1,017,228 Group contribution — 8,218 8,218 Plan participants contributions — 9,637 9,637 Benefits paid -47,214 -18,967 -66,181 Interest on the pensions plan assets 24,435 23,937 48,372 Actuarial gains/(losses) 55,958 -14,071 41,887 Transfers. reclassifications and exchange differences — -43,676 -43,676 Assets value at the end of the period 798,542 216,943 1,015,485 The caption Asset ceiling refers to the unrecognised assets in the respective accounting periods. The reconciliation between the opening balance and the closing balance is as follows: Group Thousand Euros Dec 2025 Dec 2024 Asset ceiling at the beginning of the period 34,351 32,673 Effect of changes in restricted net assets of benefits to the asset ceiling -14,385 4,970 Exchange differences 4,097 -3,292 Asset ceiling at the end of the period 24,063 34,351 The number of participants covered by the medical and other benefits plans is as follows: 2025 2024 Portugal Spain Brazil Portugal Spain Brazil Retirees and pensioners 16,457 2,958 2,755 16,867 2,918 2,755 Active workers 5,279 1,273 845 5,503 1,154 845 21,736 4,231 3,600 22,370 4,072 3,600 The provision for medical liabilities and other benefits and related coverage for the Group is as follows: Dec 2025 Thousand Euros Portugal Spain Brazil Group Liability at the end of the period 554,613 119,633 93,202 767,448 Plan assets at the end of the period -566,728 — — -566,728 Surplus pension funding 140,001 — — 140,001 Provision at the end of the period 127,886 119,633 93,202 340,721 Dec 2024 Thousand Euros Portugal Spain Brazil Group Liability at the end of the period 605,221 136,990 89,684 831,895 Plan assets at the end of the period -540,372 — — -540,372 Surplus pension funding 68,036 — — 68,036 Provision at the end of the period 132,885 136,990 89,684 359,559 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 397
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The evolution of the present value of the liability for Medical care and other benefits for the Group is as follows: Thousand Euros 2025 2024 2023 2022 2021 Liability at the end of the period 767,448 831,895 892,437 867,715 1,103,051 Plan assets at the end of the period -566,728 -540,372 -495,891 -446,190 -470,152 Surplus pension funding 140,001 68,036 7,161 3,344 — Provision at the end of the period 340,721 359,559 403,707 424,869 632,899 The experience adjustments (effects of the differences between the previous actuarial assumptions and what really occurred) for the medical and other benefits Liabilities in Portugal and Brazil and for the Plan Assets in Portugal are as follows: Thousand Euros 2025 2024 2023 2022 2021 Portugal Experience adjustments for the Plan liabilities -12,667 777 13,509 3,622 -5,051 Experience adjustments for the Plan assets -30,036 -39,551 -49,036 42,195 -38,649 Brazil Experience adjustments for the Medical Plan liabilities 2,642 6,692 -220 3,637 32 The past service liability of medical and other benefits plans for the Group is as follows: Dec 2025 Thousand Euros Portugal Spain Brazil Group Liability at the beginning of the period 605,221 136,990 89,684 831,895 Current service cost 2,784 862 66 3,712 Net interest on the net medical liabilities and other benefits 19,816 3,632 9,719 33,167 Benefits paid -34,463 -11,661 -8,091 -54,215 Past service cost (Curtailment/Plan amendments) (see note 10) 4,807 3,565 — 8,372 Actuarial (gains)/losses -44,201 -12,125 2,054 -54,272 Transfers. reclassifications and exchange differences 649 -1,630 -230 -1,211 Liability at the end of the period 554,613 119,633 93,202 767,448 Dec 2024 Thousand Euros Portugal Spain Brazil Group Liability at the beginning of the period 643,960 135,267 113,210 892,437 Current service cost 2,442 403 -1,633 1,212 Net interest on the net medical liabilities and other benefits 20,997 4,028 9,588 34,613 Benefits paid -34,409 -12,327 -9,548 -56,284 Past service cost (Curtailment/Plan amendments) (see note 10) 523 5,122 — 5,645 Actuarial (gains)/losses -28,258 5,772 -5,399 -27,885 Transfers. reclassifications and exchange differences -34 -1,275 -16,534 -17,843 Liability at the end of the period 605,221 136,990 89,684 831,895 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 398
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The evolution of the consolidated assets of the Medical care and Other benefits in Portugal is as follows: Thousand Euros Dec 2025 Dec 2024 Assets value at the beginning of the period 540,372 495,891 Group contribution — 11,167 Benefits paid -21,377 -22,445 Interest on the pensions plan assets 17,697 16,208 Actuarial gains/(losses) 30,036 39,551 Assets value at the end of the period 566,728 540,372 36. Provisions Provisions are as follows: Non-current Current Thousand Euros Dec 2025 Dec 2024 Dec 2025 Dec 2024 Provision for legal and labour matters and other contingencies 128,059 147,028 2,870 2,492 Provision for customer guarantees under current operation 734 — 1,992 3,045 Provision for dismantling and decommissioning 757,334 679,468 10,819 14,295 Provision for other liabilities and charges 364,808 329,136 124,296 170,683 1,250,935 1,155,632 139,977 190,515 With reference to 31 December 2025, the movement by nature of the Provisions item at the EDP Group level is presented as follows: Thousand Euros Legal, labour and other matters Guarantees to customers in the context of current activity Dismantling and Decommissio ning Other risks and charges Total Balance as at 1 January 2024 152,038 2,478 507,809 260,402 922,727 Perimeter variations -426 — -9,922 -47 -10,395 Charge for the period 18,537 2,465 4,901 165,166 191,069 Reversals -11,511 -568 -4,831 -7,585 -24,495 Charge-off for the period -30,465 -1,225 -7,286 -6,679 -45,655 Unwinding (see note 13) 15,599 — 20,625 2,122 38,346 Increase of the responsibility — — 176,513 — 176,513 Sharing of gains obtained from the assignment of the tariff deficit (see note 4) 17,803 — — — 17,803 CMEC — — — 14,110 14,110 CESE (see note 15) — — — 47,872 47,872 Exchange differences and other -12,055 -105 5,954 24,458 18,252 Balance as at 31 December 2024 149,520 3,045 693,763 499,819 1,346,147 Perimeter variations (see note 6) 30 — -8,859 -59 -8,888 Charge for the period 15,275 1,370 — 13,878 30,523 Reversals -7,432 -1,203 -1,270 -8,782 -18,687 Charge-off for the period -38,544 -416 -13,945 -84,841 -137,746 Unwinding (see note 13) 24,499 — 19,807 2,672 46,978 Increase of the responsibility (see note 16) — — 104,732 — 104,732 CESE (see note 15) — — — 45,043 45,043 Exchange differences and other -11,378 -70 -26,075 21,582 -15,941 Reclassification to Liabilities Held for Sale (see note 41) -1,041 — — -208 -1,249 Balance as at 31 December 2025 130,929 2,726 768,153 489,104 1,390,912 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 399
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EDP and its subsidiaries' Board of Directors, based on the information provided by its legal advisors and on the analysis of pending lawsuits, have recognised provisions to cover the losses estimated as probable, related with litigations in progress. Provision for legal and labour matters and other contingencies includes provisions for litigation in progress and other labour contingencies, which are related essentially with: • Requests for the refund of tariff increases paid by industrial consumers of the brazilian subsidiaries EDP São Paulo and EDP Espírito Santo in the amount of 18.511 thousand Euros (31 December 2024: 18,720 thousand Euros). These requests result from the application of Administrative Orders DNAEE no. 38 of 27 February 1986 and no. 45 of 4 March 1986 - Plano Cruzado, effective from March to November; and • The remaining legal litigation correspond mainly to indemnities for damages allegedly suffered in consequence of interruption of electricity supply, power accidents and fires. Provisions for customer guarantees under current operations include essentially provisions for commercial losses. Provisions for dismantling and decommissioning includes: (i) 48,639 thousand Euros of the dismantling Trillo nuclear power plant; (ii) 557,908 thousand Euros of the dismantling of wind and solar farms (replacement of sites and land in its original state), mainly, in Europe (161,533 thousand Euros), North America 215,739 thousand Euros), Asia-Pacific (71,165 thousand Euros) and South America (109,471 thousand Euros); and (iii) 161,606 thousand Euros of the dismantling and environmental requalification of thermal power plants located in Spain (108,392 thousand Euros) and Portugal (53,214 thousand Euros). As part of its energy transition strategy, the Group has been progressing in the dismantling and reconversion of its coal-fired power plants. This commitment is evidenced by the ongoing process at the Sines coal-fired power plant in Portugal, which is already being dismantled and has plans to convert into hydrogen. In this regard, a request was also made during the year 2023 for authorisation from the spanish electricity system operator (Red Eléctrica) to close the Aboño I coal-fired power plant, as well as the remaining EDP coal-fired power plants in Spain (Soto 3 and Los Barrios). EDP has been investing in the adaptation of these facilities in Spain (Abono, Soto, and Los Barrios) to new technologies, specifically in the creation of Hydrogen and Storage Hubs (see note 48). These provisions were calculated based on the present value of future liabilities and recorded against an increase in the respective tangible fixed assets, which are amortized over the average useful life of these assets. The calculation of these provisions was based on the following discount and inflation rates: Europe North America South America Asia-Pacific Discount Rate [1.94% - 7.26%] [3.49% - 9.31%] [5.71% - 13.86%] [1.36% - 3.88%] Inflation Rate [1.99% - 3.10%] [2.00% - 3.26%] [2.90% - 3.54%] [1.29% - 3.42%] Provision for other liabilities and charges On 3 May 2018, it has come to EDP’s knowledge (through a DGEG’s letter) that the CMEC final adjustment had been officially approved, according to ERSE’s proposal, in the amount of 154 million Euros. EDP reflected this reality in its financial statements as of 31 December 2018, recognising a provision by the difference in the final adjustment amounts already recognised in the Group's revenues. On 31 December 2025 EDP maintains the provision in its accounts (see note 4). On 20 October 2020, EDP Produção became aware, by letter sent by DGEG, of the dispatch of the SEE regarding the approval of the revisibility for the year 2015, which is deducted in the amount of 72.9 million Euros the predicted amount of 135.6 million Euros. In this respect, the EDP Group has registered a provision in the amount of 72.9 million Euros, and carried out an administrative appeal against the order of SEE on 19 January 2021 (see note 4). The ‘Charge-off for the period’ line item includes the amount of 35,240 thousand Euros, arising from the Group’s decision to divestment from the wind farms in Colombia. (see note 4). In their ordinary course of business, EDP Group subsidiaries are involved in several litigations and contingencies (of possible risk) of administrative, civil, tax, labour and other natures. These legal, arbitration or other actions, involve customers, suppliers, employees and administrative authorities. In EDP Group and its legal advisors' opinion, the risk of a loss in these actions is not probable, and the outcome will not affect on a material way its consolidated financial position. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 400
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The processes whose losses were considered as possible, do not require the recognition of provisions and are periodically reassessed. The detail of possible contingencies is analised as follows: Group Company Thousand Euros Dec 2025 Dec 2024 Dec 2025 Dec 2024 Administrative and Civil 472,113 449,344 — 34 Fiscal 1,431,083 1,370,463 355,893 345,792 Other 98,351 105,472 2,822 2,791 2,001,547 1,925,279 358,715 348,617 The events and possible contingencies more relevant in Portugal, are as follows: i) On 29 July 2016, the Portuguese Competition Authority (AdC) has notified EDP S.A. and EDP Comercial, S.A. with a notice for alleged violation of competition laws, regarding the process of the commercial campaign done in partnership with Modelo Continente, designated as "Plano EDP Continente". This was an occasional campaign, limited to two years, which was one of several campaigns usually performed by several other market agents. On 5 May 2017, EDP S.A. and EDP Comercial, S.A. received AdC´s final decision which applied a fine of 2.9 million Euros to EDP S.A. and 25.8 million Euros to EDP Comercial. EDP Group is convinced that this campaign has brought real benefits to consumers and competition in markets and that no breach has been committed. The companies filed their appeal on 19 June 2017 to TCRS. This court determined that EDP and EDP Comercial would provide a guarantee deposit in the amount of 50% of the fine imposed on them by the AdC, and on 19 June 2020, EDP and EDP Comercial provided a surety bond and a surety in the amounts of 1.5 million Euros and 12.9 million Euros, respectively. On 30 September 2020, a judgment was issued by the TCRS, which maintained the conviction of the two companies of the EDP Group, as well as Sonae Group's Companies, having also reduced the fines by 10%. Fines were determined at 2.6 million Euros and 23.2 million Euros for EDP and EDP Comercial, respectively. On 30 October 2020, EDP and EDP Comercial appealed the condemnatory judgment handed down by the TCRS, to the Lisbon Court of Appeal. On 6 April 2021, the parties were notified of the judgment handed down by the Court of Appeal of Lisbon, through which it decreed the suspension of the proceedings and the preliminary referral of the case to the Court of Justice of the European Union, under the mechanism provide in Article 267(b) of the Treaty on the Functioning of the European Union. The case was filed at the Registry of the Court of Justice on 26 May 2021, with written observations having been submitted by the parties on the questions referred by the Lisbon Court of Appeal. Following the oral trial hearing at the Court of Justice of the European Union held on 9 November 2022, EDP and EDP Comercial were notified on 2 March 2023 of the Advocate General's opinion.The judgment of the Court of Justice of the European Union was delivered on 26 October 2023, following the referral questions raised by the Lisbon Court of Appeal, referring the decision on some of the questions to the latter. On 20 February 2024, the Lisbon Court of Appeal rendered a ruling upholding the judgment of the TCRS of 30 September 2020. In this regard, EDP and EDP Comercial submitted, to the Lisbon Court of Appeal, on 8 March 2024, a request to challenge procedural irregularities of the aforementioned judgment, as well as requests for appeal to the Constitutional Court. The alleged irregularities were dismissed by the Lisbon Court of Appeal in a judgment delivered on 18 March 2024. Subsequently, on 3 April 2024, EDP and EDP Comercial filed appeals with the Constitutional Court. On 29 April 2024, the Constitutional Court admitted one of the invoked unconstitutionality claims and, on the other hand, rejected the others unconstitutionality claims. On 17 May 2024, a complaint was submitted to the Constitutional Court Conference regarding the partial dismissal of the appeals, which was denied by a ruling of 22 August 2024. On 11 June 2024, submissions were presented regarding the admitted unconstitutionality, and the Constitutional Court by judgement on 2 October 2024, declared the respective non-unconstitutionality. On 11 October 2024 a request was submitted to the TCRS, who issued a decision favorable to EDP and EDP Comercial on 10 December 2024. The Public Prosecutor's Office appealed the decision to the Lisbon Court of Appeal, who handed down a judgment on 11 June 2025 reverting the decision of the TCRS of December 2024 and ordering the latter to adopt a new decision on the subject. The case is now expected to be referred back to the TCRS. ii) On 18 September 2019, the Portuguese Competition Authority (AdC) notified EDP Produção of a condemnatory decision declaring an alleged violation of competition laws, based on the alleged abusive behavior of dominant market position in the secondary regulation band market. The contingency amounted to 48 million Euros, an amount that was paid by EDP Produção on 20 October 2021, as determined by the court. This amount was later reduced to 40 million Euros by the Lisbon Court of Appeal (TRL), and the transfer of 7,940 thousand Euros to EDP Produção was ordered on 17 January 2025 (see note 4). Still in the context of this process, on 29 September 2021, EDP Produção was cited in the class action filed by the IUS Omnibus Association based on the alleged abusive behavior of dominant market position in the secondary regulation band market between the beginning of 2009 and the end of 2013, requesting, on behalf of the allegedly harmed consumers, compensation in the amount of 94.8 million Euros, according to one of the estimates of the AdC within the scope of the PRC/2016/05 process. EDP Produção submitted its respective response within the established legal deadline. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 401
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An order was issued in which the court decided, among other things, to suspend the proceedings until a final decision is made in the administrative offense case no. 309/19.0YUSTR. By judgment of 23 March 2023, adopted following an appeal by EDP Produção, the Lisbon Court of Appeal confirmed the decision to suspend the proceedings. EDP Produção filed a common appeal and an exceptional appeal to the Supreme Court of Justice, which dismissed the appeals by judgment of 15 September 2023. iii) On 27 October 2009 and 5 January 2010 the EDP Group was subject to two tax settlement notes on the taxable profit of the EDP tax group for the years 2005 and 2006 which include the effect of the correction to the taxable amount of the EDP Internacional SGPS, in the total amount of 591 million Euros, associated with the tax treatment given to a capital loss identified in the liquidation of its subsidiary, whose main asset consisted of stakes in operational subsidiaries in Brazil, namely EDP Espírito Santo and Enersul. As of 31 December 2025 the value of the tax contingency associated with the aforementioned correction amounts to 179 million Euros, plus late payment interest. Based on the analysis carried out and the technical opinions gathered, including obtaining a favorable binding opinion from the tax authorities regarding the nature of the operation in question in the year of the liquidation, it was concluded that the identified capital loss is tax deductible for Corporate Income Tax under no 2 of article 75 of the Corporate Income Tax Code in force at the time of the facts (current article 81). Considering this and understanding that the framing of the operation in question complied with the tax legislation in force at the time of the facts, EDP Group challenged the legality of the additional assessment of IRC and filed a legal challenge in Court. In 2018 EDP was notified of the verdict that deemed the correction to the taxable amount made to EDP Internacional SGPS illegal, with the Tax Authority appealing this judicial decision. In March 2024 EDP was notified of the judgment rendered by the Central Administrative Court South (“TCA Sul”), which revoked the verdict of the first instance court regarding this correction. EDP disagreed with the decision of the Central Administrative Court South, and has therefore initiated various legal means at its disposal to contest this decision. In December 2024, a new ruling was issued by the Central Administrative Court South, determining that the case be sent again to the Court of First Instance for a reassessment of the facts. EDP remains confident about the success of this litigation and is convinced that the tax framework was correct according to the applicable legislation, prudently classifying the contingency as possible at of this date. iv) In October 2025, the Public Prosecutor’s Office concluded that there was no evidence of the commission of a tax fraud offence or of the adoption of an abusive tax arrangement. It further indicated that tax in the approximate amount of 335 million Euros may be considered outstanding in connection with the 2020 disposal of the Hydroelectric Assets portfolio to Movhera – Hidroelétricas do Norte, S.A., and referred the matter to the Tax Authority for assessment within the scope of administrative tax proceedings (see Note 4). The possible contingencies more relevant in Brazil, are as follows: • Investco is involved in a legal action of a civil nature mostly related with indemnity claims resulting from the filling of the hydroelectric reservoir, in the amount of 18,406 thousand Euros (31 December 2024: 15,671 thousand Euros); • There is a public civil action filed against EDP São Paulo and EDP Espírito Santo by ADIC – Associação de Defesa dos Interesses Colectivos, claiming a compensation arising from a tariff readjustment on part A from 43 concessionaires. The estimated value attributable to EDP São Paulo and EDP Espirito Santo amounts to 106,120 thousand Euros (31 December 2024: 90,403 thousand Euros); • EDP São Paulo is a party to a lawsuit related to the COFINS (Contribution for social security financing) from 1993 to 1995 in joint litigation with AES Eletropaulo, where is discussed the application of the tax amnesty introduced by the Provisional Measures paragraphs 1858-6 and 1858-8, granted to taxpayers who did not collect COFINS, considering it improper. In the trial of 2nd Instance, was partially confirmed the right to amnesty, and applied the Decree-Law 1,025/69. The updated amount as at 31 December 2025 is 13,222 thousand Euros (31 December 2024: 12,655 thousand Euros); • EDP São Paulo and EDP Espírito Santo have administrative and judicial actions regarding tax compensations not ratified by the Brazilian Federal Revenue Bureau, which: (i) are protected by judicially recognised credits (IRPJ - Corporate tax income and CSLL - Social Contribution on net profits) and (ii) that result from tax contributions in 2001 of IRPJ, CSLL, PIS (Social integration programme) and COFINS considered to be excessive as a consequence of the application of "Parecer COSIT 26/2002" (Extraordinary Tariff Adjustment - RTE) published by the Brazilian Tax Authorities. According to this opinion, the amounts resulting from tariffs updated under RTE should be recognised and taxed only as of 2002. During 2021 there was a reduction in the amount due to the success obtained in one of the administrative proceedings, cancelling the debt collection. As at 31 December 2025, the updated values amount to 19,941 thousand Euros (31 December 2024: 20,285 thousand Euros); • Lajeado has a judicial tax action initiated by the Brazilian Tax Authorities in 2014 aimed at collecting tax contributions (IRPJ and CSLL) resulting from the disallowance of expenses regarding goodwill arising from a business combination (acquisition). As at 31 December 2025, this contingency amounts to 14,001 thousand Euros (31 December 2024: 11,350 thousand Euros). Currently, the judgment in the judicial sphere is awaited. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 402
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37. Institutional partnerships in North America The caption Institutional partnerships in North America is as follows: Group Thousand Euros Dec 2025 Dec 2024 Deferred income related to benefits provided 1,699,060 1,521,011 Liabilities arising from institutional partnerships 1,216,449 1,451,724 2,915,509 2,972,735 Subsidiaries in North America recognises under this caption the receipts of institutional investors associated with wind and solar projects. This liability is reduced by the amount of tax benefits provided and payments made to the institutional investors during the period. The amount of tax benefits provided is booked as a non-current deferred income, and recognised over a five year period (see note 8). Additionally, this liability is increased by the estimated interest based on the liability outstanding and the expected rate of return of the institutional investors (see note 13). The movements in Institutional partnerships in North America are as follows: Group Thousand Euros Dec 2025 Dec 2024 Balance at the beginning of the period 2,972,735 2,188,245 Proceeds received from institutional investors 776,043 982,816 Cash paid for deferred transaction costs -6,633 -11,866 Cash paid to institutional investors -157,589 -142,373 Other Income (see note 8) -421,000 -303,108 Unwinding (see note 13) 97,094 83,827 Exchange differences -355,771 165,145 Other 10,630 10,049 Balance at the end of the period 2,915,509 2,972,735 During 2025, EDPR NA, has secured and received proceeds amounting to 776,043 thousand Euros related to institutional equity financing in exchange for an interest in onshore wind projects. Under these partnerships, EDP Group provides operating guarantees to institutional investors in wind and solar projects, which are typical of this type of structure. As at 31 December 2025, the liabilities associated with these guarantees are not expected to exceed the amounts already recognized under the caption Liabilities arising from institutional partnerships. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 403
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38. Trade payables and other liabilities from commercial activities At Group level, Trade payables and other liabilities from commercial activities are as follows: Non-current Current Thousand Euros Dec 2025 Dec 2024 Dec 2025 Dec 2024 Contract liabilities: Energy sales contracts - North America 1,731 2,724 — — CMEC (see note 26) 6,311 11,709 5,398 5,382 Tariff adjustments - Electricity - Portugal — — — 571,638 Amounts received from the Environmental Fund — — 40,861 54,940 8,042 14,433 46,259 631,960 Other liabilities: Investment government grants 456,097 459,347 — — Customer contract obligations 437,292 437,789 — — Amounts payable for tariff adjustments - Electricity - Portugal (see note 26) 4,279 34,067 85,376 62,212 Amounts payable for tariff adjustments - Electricity - Brazil 29,493 32,384 70,255 120,232 Amounts payable - securitisations — — 120,598 87,958 Amounts payable - CMEC — — 229,149 230,032 Amounts payable for concessions 181,995 189,795 19,653 19,605 Property, plant and equipment suppliers 86,986 240,748 1,368,753 1,979,765 Suppliers — — 949,634 1,078,548 Accrued costs related with commercial activities — — 669,657 865,781 Holiday pay, bonus and other charges with employees — — 215,116 221,383 CO2 emission licenses — — 242,145 102,013 Other creditors and sundry operations 165,810 149,127 280,644 254,208 1,361,952 1,543,257 4,250,980 5,021,737 1,369,994 1,557,690 4,297,239 5,653,697 At Company level, Trade payables and other liabilities from commercial activities are as follows: Current Thousand Euros Dec 2025 Dec 2024 Other liabilities: Suppliers 117,695 119,631 Accrued costs related with commercial activities 73,370 43,165 Property, plant and equipment suppliers 1,025 808 Holiday pay, bonus and other charges with employees 36,017 35,361 Other creditors and sundry operations 3,450 7,277 231,557 206,242 Amounts received from the Environmental Fund refer to the amounts received by E-Redes - Distribuição de Eletricidade, S.A. under the Tariff Containment Measures and are intended to reduce the tariffs during 2026. Investment government grants are amortised through the recognition of a revenue in the income statement over the useful life of the related assets, which amounts to 35,562 thousand Euros as at 31 December 2025 (see note 12). The captions Amounts payable and Amounts Receivable for tariff adjustments - Electricity - Brazil, refer to tariff adjustments recognised in EDP São Paulo - Distribuição de Energia S.A. and EDP Espírito Santo - Distribuição de Energia S.A. Non-current Current Thousand Euros Dec 2025 Dec 2024 Dec 2025 Dec 2024 Amounts payable for tariff adjustments - Electricity - Brazil 29,493 32,384 70,255 120,232 Amounts receivable from tariff adjustments - Electricity - Brazil (see note 26) -49,306 -11,135 -32,324 -7,553 -19,813 21,249 37,931 112,679 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 404
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The movement for the period in Amounts payable and Amounts Receivable for tariff adjustments - Electricity - Brazil (Non-current and Current) is as follows: Thousand Euros Dec 2025 Balance at the beginning of the period 133,928 Tariff adjustment of the period (see note 7) -47,997 (Payment)/receipt through the electricity tariff -80,874 Interest expense/income (see note 13) 10,925 Exchange differences 2,136 Balance at the end of the period 18,118 In the energy distribution activity, the subsidiaries of EDP Group in Portugal and Spain recover the deficits and tariff adjustment assets through the tariffs charged to their customers. The caption Amounts payable - securitizations includes the amounts payable to entities that have acquired the right to receive these assets in securitisation or direct sales operations in Portugal. The caption Amounts payable - CMEC refers to amounts received by E-Redes – Distribuição de Eletricidade, S.A., through the tariff, regarding the CMEC Revisibility of 2016 and 2017, which delivery to REN is awaiting approval (see note 26). The caption Amounts payable for concessions - Non-current and Current includes the concession rights for the operation of the hydric domain of Alqueva and Pedrógão transferred by EDIA in the amount of 126,238 thousand Euros (31 December 2024: 130,244 thousand Euros) and the financial compensation for the use of the public domain related to concession agreements of Investco, S.A. and Enerpeixe, S.A. in Brazil in the amount of 75,410 thousand Euros (31 December 2024: 79,156 thousand Euros). The caption Property, plant and equipment suppliers - Current and Non-current includes amounts payable arising from assets and projects acquisitions in the amount of 115,889 thousand Euros (31 December 2024: 202,321 thousand Euros) and the amounts due related with the construction of windfarms and solar parks in North America in the amount of 911,158 thousand Euros (31 December 2024: 1,270,047 thousand Euros), in Europe in the amount of 184,105 thousand Euros (31 December 2024: 484,562 thousand Euros) and in South America in the amount of 59,040 thousand Euros (31 December 2024: 61,290 thousand Euros). The caption CO2 emission licenses includes the licenses corresponding to CO2 emissions made during 2025 in Portugal and Spain, in the amount of 137,639 thousand Euros and 104,506 thousand Euros, respectively (31 December 2024: 37,461 thousand Euros and 64,552 thousand Euros). The variation that occurred includes the consumption of 2025 and return, in 2025, of the licenses related to 2024 consumptions, which are delivered by September of the year following their consumption to the regulatory authorities. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 405
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39. Other liabilities and other payables Other liabilities and other payables are as follows: Group Company Thousand Euros Dec 2025 Dec 2024 Dec 2025 Dec 2024 Other liabilities and other payables - Non-Current Liabilities measured at amortised cost: Loans from non-controlling interests 410,630 484,870 — — Group companies — — 885,000 885,000 Lease Liabilities 1,091,676 1,191,919 181,649 138,156 Liabilities measured at fair value through profit or loss: Derivative financial instruments (see note 42) 841,684 874,617 539,904 507,286 Amounts payable and contingent prices for acquisitions/ sales 150,187 126,559 — — Other Liabilities: Other creditors and sundry operations 299,791 351,750 — — 2,793,968 3,029,715 1,606,553 1,530,442 Other liabilities and other payables - Current Liabilities measured at amortised cost: Loans from non-controlling interests 205,696 143,047 — — Dividends attributed to related companies 35,492 42,713 — — Group companies — — 3,590 5,205 Lease Liabilities 127,320 130,234 17,451 12,910 Liabilities measured at fair value through profit or loss: Derivative financial instruments (see note 42) 459,487 553,869 320,004 490,311 Amounts payable and contingent prices for acquisitions/ sales 95,266 146,826 13,738 55,650 Other Liabilities: Intermediation of electricity system flows i) 195,789 — — — Other creditors and sundry operations 21,602 41,090 262,750 348,609 1,140,652 1,057,779 617,533 912,685 3,934,620 4,087,494 2,224,086 2,443,127 i ) I t c o r r e s p o n d s t o t h e 6 - d a y i m p r o v e m e n t i n t h e r e c u r r i n g w o r k i n g c a p i t a l c y c l e i n h e r e n t t o t h e intermediation of flows within the Portuguese electricity system, following the contracting of an external service to optimize this process and consequently achieve operational savings, including the concentration of these payments into a single payment in the middle of each monthly service cycle. The caption Loans from non-controlling interests Non-Current and Current refers to financing provided by minority shareholders, in particular the Macquarie Super Core Infrastructure Fund, in the amount of 530,688 thousand Euros, with a fixed interest rate between 0.42% and 4.62%. The variation of the caption Amounts payable and contingent prices for acquisitions/sales essentially results from the remeasurement of contingent consideration to fair value at each reporting date and from payments made. The movements in Lease Liabilities - Non Current and Current are as follows: Thousand Euros Dec 2025 Dec 2024 Balance at the beginning of the period 1,322,153 1,312,730 Charge for the period 157,047 106,619 Unwinding of lease liabilities (see note 13) 49,640 51,798 Lease payments (principal and interests) -137,546 -130,596 Exchange differences -91,441 38,915 Perimeter variations and other regularisations -80,857 -57,313 Balance at the end of the period 1,218,996 1,322,153 The provision for the period mainly includes new land lease contracts located primarily in North America, Europe, and South America, as well as the lease contract for the Headquarters II building entered into by EDP S.A. (see note 23). The movement recorded in Exchange differences during the period is essentially due to the depreciation of the US Dollar against the Euro. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 406
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The nominal value of Lease Liabilities, by maturity, is as follows: Dec 2025 Capital outstanding by maturity Thousand Euros Total Less than 5 years From 5 to 10 years From 10 to 15 years More than 15 years Lease Liabilities 2,031,875 531,813 453,160 410,649 636,253 The Lease Liabilities caption, on an individual basis, essentially includes the lease agreements with the Pension Funds, Medical Acts Fund and Death Grant Fund, relating to the headquarters buildings in Porto and the headquarters buildings in Lisbon (see note 44). 40. Tax liabilities Tax liabilities are as follows: Group Company Thousand Euros Dec 2025 Dec 2024 Dec 2025 Dec 2024 Non Current Special tax Brazil 132,888 82,568 — — Current Income tax 193,256 58,705 125,646 551 Withholding tax 56,863 71,423 1,274 1,579 Value Added Tax (VAT) 138,663 159,804 1,668 1,881 Special taxes Brazil 70,461 66,510 — — Other taxes 161,328 172,038 1,497 1,509 620,571 528,480 130,085 5,520 753,459 611,048 130,085 5,520 The Special taxes Brazil caption relates to the following taxes: CSLL (Social Contribution on net profits), PIS (Social integration programme) and COFINS (Social Security Financing Contribution). The change in income tax is due to the fact that the estimated tax for the current year of EDP, S.A. is payable when in the previous year, the estimated tax was receivable. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 407
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41. Non-Current assets and liabilities held for sale These captions are as follows: Group Thousand Euros Dec 2025 Dec 2024 Assets held for sale Electricity generation - Solar and Wind 14,693 73,967 Electricity transmission assets 85,919 410,177 Total Assets held for sale 100,612 484,144 Liabilities held for sale Electricity generation - Solar and Wind 8,070 22,885 Electricity transmission assets 7,050 313,103 Total Liabilities held for sale 15,120 335,988 Net amount of held for sale 85,492 148,156 Assets and liabilities that presented in non-current assets and liabilities held for sale relates to the following processes: • During the fourth quarter of 2024, EDPR Group, as part of its asset rotation program, initiated the sale process of a solar portfolio in Spain. In the second quarter of 2025, EDPR Group announced the completion of this transaction (see note 6); • During the fourth quarter of 2024, EDP Brasil Group began the asset rotation process for the transmission line of EDP Transmissão Aliança SC (Lot 21), with a length of 435 kilometers. In the second quarter of 2025, EDP Brasil Group announced the completion of the transaction (see note 6); • In the first quarter of 2025, EDP Brasil Group initiated the divestment process of two hydroelectric generation joint ventures (Jari and Cachoeira). In the third quarter of 2025, EDP Brasil Group announced the completion of the transaction (see note 6); • In the second quarter of 2025, EDP Brasil Group began the divestment process of the Pecem hydroelectric generation joint venture. In the third quarter of 2025, EDP Brasil Group announced the completion of this transaction (see note 6); • In the second quarter of 2025, EDPR Group initiated the asset rotation process for a wind portfolio in Europe (France and Belgium). In the third quarter of 2025, EDPR Group announced the completion of the transaction (see note 6); • During the second quarter of 2025, the EDPR Group initiated several asset rotation processes for solar portfolios in Europe (Italy) and Asia, as well as the process for the sale of the company Sunlight in Hungary. During the fourth quarter of 2025, the EDPR Group announced the completion of the transactions in Europe and Asia (see note 6); • During the third quarter of 2025, the EDPR Group initiated several asset rotation processes for solar portfolios in Spain and Greece. During the fourth quarter of 2025, the EDPR Group announced the completion of the transaction (see note 6); • During the third quarter of 2025, sale processes were initiated for companies in Greece and Romania. During the fourth quarter of 2025, the EDPR Group announced the completion of the transaction in Romania (see note 6). • During the fourth quarter of 2025, the EDPR Group initiated the asset rotation process for an electricity transmission project in Brazil EDP Integrated Annual Report 2025 Financial Statements and Notes Index 408
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As at 31 December 2025 the following reclassifications were made to held for sale: Thousand Euros Electricity generation - Solar and Wind Electricity transmission assets Total Assets Property, plant and equipment (see note 16) 11,759 83 11,842 Intangible assets — 8,759 8,759 Other assets 2,360 3,108 5,468 Contractual assets receivable for Concessions – IFRIC 12 (see note 26) — 69,320 69,320 Cash and equivalents (see note 29) 574 4,649 5,223 Total Assets held for sale -14,693 -85,919 -100,612 Liabilities Provisions (see note 36) — 1,249 1,249 Other liabilities 8,070 5,801 13,871 Liabilities held for sale -8,070 -7,050 -15,120 The classification of the company’s assets and liabilities as held for sale resulted in the recognition of the following impairment losses, as the fair value (level 3) less the selling of these transactions is lower than their net book value: i) Sunlight in the amount of 4,620 thousand Euros; ii) solar portfolio in Spain in the amount of 27,119 thousand Euros; and iii) companies in Greece and Romania in the amount of 8,286 thousand Euros (see note 12). The remaining reclassifications were made solely for presentation purposes in the financial statements, without impact on the measurement of these assets and liabilities. 42. Derivative financial instruments In accordance with IFRS 9, the Group classifies derivative financial instruments as fair value hedge of a recognised asset or liability (Fair value hedge), as cash flow hedge of recognised liabilities and highly probable future transactions (Cash flow hedge), as net investment hedge in foreign operations (Net investment hedge), or as held for trading, if or when they are not eligible for hedge accounting. The fair value of the derivative financial instruments in EDP Group is as follows: Dec 2025 Dec 2024 Thousand Euros Assets Liabilities Assets Liabilities Net Investment hedge Cross-currency interest rate swaps 101,090 -30,175 50,340 -131,072 Currency forwards 11,109 -7,058 1,335 -9,101 Fair value hedge Interest rate swaps 8,187 -4,427 2,603 -15,819 Cross-currency interest rate swaps 517 -4,934 4,536 -1,772 Cash flow hedge Interest rate swaps 20,896 -19,532 14,157 -13,638 Cross-currency interest rate swaps 7,385 -3,252 9,398 — Swaps related to gas commodity 91,129 -64,002 63,702 -262,661 Electricity swaps 431,015 -648,974 431,396 -633,775 Currency forwards (includes commodities and capex forwards) 2,132 -2,029 19,814 -748 CO2 forwards — -2,846 — -9,250 Trading Interest rate swaps 17,518 -2,751 45,458 -4,005 Cross-currency interest rate swaps 1,549 -1,591 62,027 -2,830 Commodity swaps and forwards 559,823 -489,764 348,887 -320,086 Currency forwards 7,954 -9,158 10,916 -11,329 CO2 forwards — -10,506 254 -12,219 Currency forwards associated to commodities 146 -172 155 -181 1,260,450 -1,301,171 1,064,978 -1,428,486 As at 31 December 2025, EDP Group holds contracts for the purchase and sale of commodities traded on futures exchange market, namely Chicago Mercantile Exchange, Intercontinental Exchange, EDP Integrated Annual Report 2025 Financial Statements and Notes Index 409
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European Energy Exchange and OMIP, whose fair value of the contracted operations is settled on a daily basis, and therefore it is not included in the Statement of Financial Position. The notional of these futures contracts amounts to 3,841,983 thousand Euros with maturities ranged between 2026 and 2035 (31 December 2024: 3,524,564 thousand Euros), and the fair value held in EDP Group results and cash flow hedge reserves related to these operations are a positive amount of 9,237 thousand Euros and a positive amount of 83,825 thousand Euros, respectively (31 December 2024: negative amount of 5,960 thousand Euros and positive amount of 125,138 thousand Euros). The financial risk management of EDP S.A. and other entities of the Group is centrally carried out by EDP S.A., and in terms of commodity price risk management by EDP GEM (see notes 5 and 13). On this basis, EDP S.A. and EDP GEM contract derivative financial instruments to hedge individual business risks and those of the EDP Group companies, performing intermediation for these entities in the negotiation and contracting. The fair value of the derivative financial instruments at Company level is as follows: Dec 2025 Dec 2024 Thousand Euros Assets Liabilities Assets Liabilities Cash flow hedge Interest rate swaps 7,903 -1,119 325 -1,684 Fair value hedge Interest rate swaps 3,951 -302 2,533 -234 Trading Interest rate swaps 26,233 -26,233 17,578 -17,253 Cross-currency interest rate swaps 87,774 -124,961 108,109 -145,962 Commodity swaps 670,605 -670,606 782,716 -782,716 Currency forwards 30,677 -30,677 27,327 -27,332 Commodity forwards 2,846 -2,846 9,250 -9,250 Currency forwards associated to commodities 3,164 -3,164 13,166 -13,166 833,153 -859,908 961,004 -997,597 The fair value of derivative financial instruments is booked in Other debtors and other assets (see note 27) and Other liabilities and other payables (see note 39), according to its nature. Fair value of derivative financial instruments is based on listed market prices, whenever available, or on valuations determined through valuation models that use variables observable on the market. Therefore, according to IFRS 13 requirements, the fair value of the derivative financial instruments is classified as of level 2 (see note 45). These valuation models are based on generally accepted discounted cash flow techniques and option valuation models, using market data obtained through financial information platforms. For certain energy-related derivative financial instruments, the same valuation models use both v a r i a b l e s o b s e r v a b l e o n t h e m a r k e t a n d n o n - o b s e r v a b l e v a r i a b l e s . T h e s e n o n - o b s e r v a b l e v a r i a b l e s include, in particular, assumptions regarding the intra-year hourly distribution of volume, used as adjustments to purchase and sale prices assumptions, based on the Group’s experience in the markets in which it operates. The fair value in this case is classified as of level 3 (see note 45). None of the reasonably foreseeable scenarios for changes in the underlying assumptions would not result in a material impact on the fair value of derivative financial instruments classified within level 3. No transfers between levels of the fair value hierarchy were made during this period. Derivative financial instruments classified as trading are financial hedging instruments contracted for economic hedging at EDP Group level (see note 5), however such instruments are not eligible for hedge accounting under IFRS. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 410
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In 2025, the notional amounts per measurement unit of the derivative financial instruments in EDP Group, are as follows: Thousand Units Unit 2026 2027 2028 2029 Following years Total Net Investment hedge Cross-currency interest rate swaps Euros 93,897 150,000 — — 1,810,599 2,054,496 Currency forwards Euros 1,863,751 — — — — 1,863,751 Fair value hedge Interest rate swaps Euros — — 200,000 200,000 89,336 489,336 Cross-currency interest rate swaps Euros 797 797 1,052 2,788 19,938 25,372 Cash flow hedge Interest rate swaps Euros 37,440 35,073 496,156 238,396 881,057 1,688,122 Cross-currency interest rate swaps Euros 3,135 3,484 3,895 6,437 32,690 49,641 Swaps related to gas commodity * MWh 5,035 1,435 907 35 — 7,412 Electricity swaps* MWh -10,163 -10,039 -9,086 -6,956 -44,906 -81,150 CO2 forwards* MT 175 — — — — 175 Currency forwards (includes commodities and capex forwards) Euros 57,027 17,328 43,601 — — 117,956 Trading Interest rate swaps Euros 108,756 — — — — 108,756 Cross-currency interest rate swaps Euros 113,417 — — — — 113,417 Swaps related to gas commodity * MWh -425 -1,064 33 — — -1,456 Electricity swaps * MWh 5,236 4,191 3,012 1,107 5,183 18,729 Currency forwards Euros 905,715 21,091 — — — 926,806 CO2 forwards * MT -1,017 — — — — -1,017 * For presentation purposes, the notionals of purchase operations have a positive sign and those for sales have a negative sign. In 2024, the notional amounts per measurement unit of the derivative financial instruments in EDP Group, are as follows: Thousand Units Unit 2025 2026 2027 2028 Following years Total Net Investment hedge Cross-currency interest rate swaps Euros 76,310 47,252 150,000 — 1,810,599 2,084,161 Currency forwards Euros 626,853 — — — — 626,853 Fair value hedge Interest rate swaps Euros 600,000 — — 200,000 289,490 1,089,490 Cross-currency interest rate swaps Euros — — — — 91,617 91,617 Cash flow hedge Interest rate swaps Euros 77,653 72,709 39,547 525,645 456,434 1,171,988 Swaps related to gas commodity * MWh 3,720 2,758 1,135 — — 7,613 Electricity swaps* MWh -10,284 -9,711 -8,476 -6,834 -77,102 -112,407 CO2 forwards MT 175 175 — — — 350 Currency forwards (includes commodities and capex forwards) Euros 238,838 36,764 5,444 — — 281,046 Trading Interest rate swaps Euros 300,000 275,546 — — — 575,546 Cross-currency interest rate swaps Euros 99,654 240,455 — — — 340,109 Swaps related to gas commodity * MWh -385 -2,031 — — — -2,416 Coal swaps* MT 186 — — — — 186 Electricity swaps * MWh -951 1,497 2,876 1,753 1,147 6,322 Currency forwards Euros 874,019 8,130 — — — 882,149 CO2 forwards * MT -1,858 428 — — 578 -852 * For presentation purposes, the notionals of purchase operations have a positive sign and those for sales have a negative sign. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 411
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In 2025, the notional amounts per measurement unit of the derivative financial instruments at Company level, are as follows: Thousand Units Unit 2026 2027 2028 2029 Following years Total Cash flow hedge Interest rate swaps Euros — — — 80,000 500,000 580,000 Fair value hedge Interest rate swaps Euros — — 200,000 — — 200,000 Trading Interest rate swaps Euros — — 926,846 640,000 338,988 1,905,834 Cross-currency interest rate swaps Euros 187,796 318,182 — — 2,784,064 3,290,042 Currency forwards Euros 4,635,072 44,896 87,202 — — 4,767,170 Currency forwards for commodities Euros 62,240 31,944 — — — 94,184 In 2024, the notional amounts per measurement unit of the derivative financial instruments at Company level, were as follows: Thousand Units Unit 2025 2026 2027 2028 Following years Total Cash flow hedge Interest rate swaps Euros — — — — 80,000 80,000 Fair value hedge Interest rate swaps Euros — — — 200,000 200,000 400,000 Trading Interest rate swaps Euros 1,500,000 — — 988,422 440,000 2,928,422 Cross-currency interest rate swaps Euros 258,550 94,504 318,182 — 2,784,064 3,455,300 Currency forwards Euros 2,246,311 35,156 6,080 — — 2,287,547 Currency forwards for commodities Euros 226,886 54,630 — — — 281,516 In 2025, the future undiscounted cash flows of the derivative financial instruments in EDP Group, are as follows: Thousand Euros 2026 2027 2028 2029 Following years Total Net Investment hedge Cross-currency interest rate swaps -28,658 -33,776 -21,146 -21,261 31,007 -73,834 Currency forwards 3,965 — — — — 3,965 -24,693 -33,776 -21,146 -21,261 31,007 -69,869 Fair value hedge Interest rate swaps 596 671 4,341 4,283 -441 9,450 Cross-currency interest rate swaps -23 -23 -30 -79 -567 -722 573 648 4,311 4,204 -1,008 8,728 Cash flow hedge Interest rate swaps -2,316 -11,628 -7,740 -3,682 -23,337 -48,703 Cross-currency interest rate swaps 260 289 323 534 2,711 4,117 Swaps related to gas commodity 4,208 20,751 3,879 -77 — 28,761 Electricity swaps -57,231 -61,368 -40,783 -32,660 -49,059 -241,101 CO2 forwards -2,909 — — — — -2,909 Currency forwards (includes commodities and capex forwards) -359 974 -9 — — 606 -58,347 -50,982 -44,330 -35,885 -69,685 -259,229 Trading Interest rate swaps 17,518 — — — — 17,518 Cross-currency interest rate swaps 1,549 — — — — 1,549 Commodity swaps and forwards 32,509 -7,384 3,395 5,045 43,089 76,654 CO2 forwards -10,655 — — — — -10,655 Currency forwards -1,930 280 — — — -1,650 38,991 -7,104 3,395 5,045 43,089 83,416 -43,476 -91,214 -57,770 -47,897 3,403 -236,954 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 412
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In 2024, the future undiscounted cash flows of the derivative financial instruments in EDP Group, are as follows: Thousand Euros 2025 2026 2027 2028 Following years Total Net Investment hedge Cross-currency interest rate swaps -36,973 -37,630 -64,169 -29,898 -167,823 -336,493 Currency forwards -7,766 — — — — -7,766 -44,739 -37,630 -64,169 -29,898 -167,823 -344,259 Fair value hedge Interest rate swaps -12,859 -1,205 -1,184 2,978 -5,056 -17,326 Cross-currency interest rate swaps — — — — 3,484 3,484 -12,859 -1,205 -1,184 2,978 -1,572 -13,842 Cash flow hedge Interest rate swaps 708 -783 -1,028 55 6,276 5,228 Cross-currency interest rate swaps — — — — 9,398 9,398 Swaps related to gas commodity -172,874 -32,211 -4,545 — — -209,630 Electricity swaps -22,019 -16,449 -17,917 -15,743 -138,022 -210,150 CO2 forwards -4,515 -5,058 — — — -9,573 Currency forwards (includes commodities and capex forwards) 18,238 703 32 — — 18,973 -180,462 -53,798 -23,458 -15,688 -122,348 -395,754 Trading Interest rate swaps 19,632 8,239 17,497 — — 45,368 Cross-currency interest rate swaps 60,326 — — — — 60,326 Commodity swaps and forwards 19,829 17,018 8,507 2,985 -10,575 37,764 CO2 forwards -11,913 -260 — — — -12,173 Currency forwards 770 -1,124 — — — -354 88,644 23,873 26,004 2,985 -10,575 130,931 -149,416 -68,760 -62,807 -39,623 -302,318 -622,924 In 2025, the future undiscounted cash flows of the derivative financial instruments at Company level, are as follows: Thousand Euros 2026 2027 2028 2029 Following years Total Fair value hedge Interest rate swaps 276 375 4,068 — — 4,719 276 375 4,068 — — 4,719 Cash flow hedge Interest rate swaps 4,894 -2,353 -2,324 -2,293 -12,867 -14,943 4,894 -2,353 -2,324 -2,293 -12,867 -14,943 Trading Cross-currency interest rate swaps -1,842 -20,046 -925 -893 -17,327 -41,033 -1,842 -20,046 -925 -893 -17,327 -41,033 3,328 -22,024 819 -3,186 -30,194 -51,257 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 413
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In 2024, the future undiscounted cash flows of the derivative financial instruments at Company level, are as follows: Thousand Euros 2025 2026 2027 2028 Following years Total Fair value hedge Interest rate swaps -7,800 -1,205 -1,184 2,978 3,801 -3,410 -7,800 -1,205 -1,184 2,978 3,801 -3,410 Cash flow hedge Interest rate swaps 306 -128 -128 -129 -126 -205 306 -128 -128 -129 -126 -205 Trading Interest rate swaps 5,444 628 628 629 -3,801 3,528 Cross-currency interest rate swaps -1,857 -1,789 -20,002 -680 -17,178 -41,506 Currency forwards -4 — — — — -4 3,583 -1,161 -19,374 -51 -20,979 -37,982 -3,911 -2,494 -20,686 2,798 -17,304 -41,597 The changes in the fair value, including accrued interest, of hedging instruments and risks being hedged are as follows: 2025 2024 Changes in fair value Changes in fair value Thousand Euros Hedging instrument Hedged risk Instrument Risk Instrument Risk Net investment (i) Cross-curr. int. rate swaps and Currency forwards Subsidiaries in BRL, GBP, USD, CAD, COP, SGD, CNY, TWD and PLN 163,464 -270,057 -58,139 188,757 Fair value Interest rate swap Interest rate 16,976 -16,976 8,016 -8,016 Fair value Cross-curr. int. rate swaps Exchange and interest rate -7,181 7,181 19,272 -19,272 Cash flow Interest rate swap Interest rate 845 -845 1,812 -1,812 Cash flow Cross-curr. int. rate swaps Exchange and interest rate -5,265 5,265 9,398 -9,398 Cash flow CO2 forwards Commodity prices 6,404 -6,404 -3,071 3,071 Cash flow Currency forwards Exchange rate -18,963 18,963 8,288 -8,288 Cash flow (ii) Commodity swaps Commodity prices 210,506 -210,165 224,166 -224,391 366,786 -473,038 209,742 -79,349 (i) Fair value variation of the hedging instrument on Cross currency interest rate swaps for Net investment includes a negative amount of 91,038 thousand Euros related to the cost of hedging (71,049 thousand Euros net of tax effect), recorded in reserves (see note 32), and ineffectiveness of a negative amount of 15,555 thousand Euros; and (ii) Relating to December 2025, fair value variation of the hedging instrument on Commodity swaps for Cash flow includes a positive amount of 341 thousand Euros related to ineffectiveness. Considering that hedging derivative financial instruments are contracted with a high correlation of critical terms, namely in the same currency and at the same indexes, the hedge ratio between the hedging instruments and the hedged instruments is 1:1. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 414
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As at 31 December 2025 and 2024 the following market inputs were considered for the fair value calculation: Instrument Fair value indexed to the following market inputs Cross-curr. int. rate swaps Interest rates: Euribor 3M, Euribor 6M, Libor 3M, Libor 6M, CDI, Wibor 3M, Wibor 6M, SOFR-01D and Robor 3M; and taxas de câmbio: EUR/CAD, EUR/GBP, EUR/PLN, USD/ BRL and EUR/USD. Interest rate swaps Interest rates: Euribor 3M, Euribor 6M, Wibor 6M, SORA 1D, SOFR-1D, SOFR-1M, SOFR-3M, SOFR-6M, CAD-CORRA, TIBOR 6M, TAIBOR-1M, TAIBOR-3M, TONAR 1D, TONAR 6M, US Libor 3M, CDI and IPCA. Currency forwards Exchange rates: EUR/AUD, EUR/BRL, EUR/CAD, EUR/COP, EUR/GBP, EUR/HUF, EUR/ JPY, EUR/PLN, EUR/RON, EUR/SGD, EUR/TWD, EUR/USD, SGD/CNY, SGD/TWD, USD/ CAD, USD/JPY, USD/PLN, USD/SGD and VND/USD. Commodity swaps Market quotes of commodities: Electricity, Henry Hub, TTF, Coal, CO2 and JKM. The changes in the fair value reserve related to cash flow hedges in 2025 and 2024 by nature of derivative financial instruments in EDP Group, were as follows: Balance as at 1 January 2024 -39,407 -429,063 17,532 -450,938 137,793 -313,145 Fair value changes 64,501 -119,360 24,812 -30,047 -126,782 -156,829 Transfer to results from hedging -4,057 360,336 -29,809 326,470 39,571 366,041 Comprehensive Income changes in associates -51,902 — — -51,902 11,486 -40,416 Balance as at 31 December 2024 -30,865 -188,087 12,535 -206,417 62,068 -144,349 Fair value changes 88,689 -95,218 417 -6,113 31,026 24,913 Transfer to results from hedging -6,167 205,325 -5,987 193,171 -65,687 127,484 Comprehensive Income changes in associates -5,825 — — -5,825 -2,559 -8,384 Balance as at 31 December 2025 45,832 -77,980 6,965 -25,184 24,848 -336 Thousand Euros Cross- currency interest rate swaps Commodity swaps Currency forwards for capex and commod. Gross Amount Deferred Tax Total EDP Integrated Annual Report 2025 Financial Statements and Notes Index 415
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The changes in the fair value reserve related to cash flow hedges in 2025 and 2024 by nature of derivative financial instruments at Company level, were as follows: Thousand Euros Interest rate swaps Gross Amount Deferred Tax Total Balance as at 1 January 2024 23,850 23,850 -5,046 18,804 Fair value changes -1,685 -1,685 577 -1,108 Transfer to results from hedging -5,337 -5,337 1,067 -4,270 Balance as at 31 December 2024 16,828 16,828 -3,402 13,426 Fair value changes 11,799 11,799 -1,501 10,298 Transfer to results from hedging -5,600 -5,600 952 -4,648 Balance as at 31 December 2025 23,027 23,027 -3,951 19,076 Changes in fair value for the period, on consolidated basis, in the fair value reserve include: (i) future contracts for the purchase and sale of commodities traded on futures exchange market whose fair values are settled on a daily basis, and therefore are not in the statement of financial position; and (ii) fair value variation of derivative financial instruments contracted and settled within the same period. The gains and losses on the financial instruments portfolio, excluding accrued interest, booked in the Income Statement in 2025 and 2024 are as follows: Group Company Thousand Euros Dec 2025 Dec 2024 Dec 2025 Dec 2024 Commodity derivatives held for trading 90,441 -99,227 — — Debt derivatives held for trading -8,913 29,044 1,076 1,733 Net investment hedge - ineffectiveness -15,555 82,886 — — Fair value hedges: -Derivatives 12,130 34,631 — — -Hedged liabilities -4,886 -7,518 — — Cash flow hedges: -Transfer to results from hedging of financial liabilities -6,167 -4,057 — — -Transfer to results from hedging of commodity prices 199,338 330,527 — — 266,388 366,286 1,076 1,733 The amount transferred to the Income Statement related to the hedging of commodity derivatives and the amount related to the portfolio of derivatives associated with commodities is included in the caption of Revenues and cost of Energy Sales and Services and Other. The remaining amounts presented in the table above are included in the items of financial expenses and income. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 416
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The effective interest rates of the derivative financial instruments relating to financing operations in EDP Group at 31 December 2025 are as follows: Notional Euro'000 Currency EDP Receives EDP Pays Interest rate contracts: Interest rate swaps 1,250,000 EUR [ 2.05% - 4.13% ] [ 2.32% - 3.91% ] Interest rate swaps 187,290 USD [ 3.67% - 3.78% ] [ 0.86% - 1.65% ] Interest rate swaps 50,073 JPY [ 0.91% - 1.64% ] [ 1.82% - 2.09% ] Interest rate swaps 198,092 BRL [ 8.54% - 10.78% ] [ 15.97% - 17.01% ] Interest rate swaps 92,038 CAD [ 2.31% - 2.41% ] [ 2.1% - 2.75% ] Interest rate swaps 463,423 SGD [ 1.09% - 1.19% ] [ 2.94% - 3.11% ] Interest rate swaps 45,300 TWD [ 1.67% - 1.77% ] [ 1.47% - 2.03% ] Currency and interest rate contracts: CIRS (currency interest rate swaps) 75,497 EUR/PLN [ 2.02% - 2.03% ] [ 4.33% - 5.5% ] CIRS (currency interest rate swaps) 18,400 EUR/CAD [ -0.7% - -0.6% ] [ -0.05% - 0.05% ] CIRS (currency interest rate swaps) 188,429 USD/BRL [ 4.07% - 4.55% ] [ 15.52% - 15.62% ] CIRS (currency interest rate swaps) 1,960,599 EUR/USD [ 0.38% - 3.88% ] [ 1.83% - 5.3% ] The effective interest rates of the derivative financial instruments relating to financing operations in EDP Group at 31 December 2024 were as follows: Notional Euro'000 Currency EDP Receives EDP Pays Interest rate contracts: Interest rate swaps 1,500,000 EUR [ 0.18% - 4.13% ] [ 0.00% - 4.92% ] Interest rate swaps 295,000 USD [ 0.01% - 4.68% ] [ 1.23% - 4.45% ] Interest rate swaps 365,037 BRL [ 1.4% - 11.07% ] [ 1.37% - 12.1% ] Interest rate swaps 104,985 CAD [ -0.04% - 0.06% ] [ 2.1% - 2.75% ] Interest rate swaps 527,523 SGD [ -0.04% - 0.06% ] [ 2.94% - 3.11% ] Interest rate swaps 44,478 TWD [ 1.65% - 1.68% ] [ 1.47% - 2.03% ] Currency and interest rate contracts: CIRS (currency interest rate swaps) 15,835 EUR/GBP [ -1.58% - -1.48% ] [ -0.05% - 0.05% ] CIRS (currency interest rate swaps) 120,893 EUR/PLN [ 2.68% - 3.21% ] [ 6.12% - 6.79% ] CIRS (currency interest rate swaps) 39,798 EUR/CAD [ -1.08% - -1.00% ] [ -0.05% - 0.05% ] CIRS (currency interest rate swaps) 378,764 USD/BRL [ 1.4% - 6.79% ] [ 1.37% - 12.27% ] CIRS (currency interest rate swaps) 1,960,599 USD/EUR [ 0.38% - 3.88% ] [ 1.83% - 5.30% ] The contracted prices of the derivative financial instruments relating to commodities at 31 December 2025 were as follows: Unit 2026 2027 2028 2029 Following Years Electricity swaps Euros/ MWh [24.88 - 116.9] [24.88 - 108.1] [24.88 - 104.57] [24.88 - 104.57] [24.88 - 67] Swaps related to gas commodity Euros/ MWh [10.4 - 57.02] [10.55 - 46.95] [10.59 - 34.5] [23.88 - 24.99] n.a CO2 forwards Euros/MT [62.45 - 107] n.a n.a n.a n.a EDP Integrated Annual Report 2025 Financial Statements and Notes Index 417
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The contracted prices of the derivative financial instruments relating to commodities at 31 December 2024 were as follows: Unit 2025 2026 2027 2028 Following Years Electricity swaps Euros/ MWh [29.18 - 167.03] [29.07 - 113.27] [29.07 - 67.00] [29.07 - 67.00] [29.60 - 67.00] Swaps related to gas commodity Euros/ MWh [8.20 - 159.90] [11.77 - 57.02] [11.93 - 46.95] n.a n.a CO2 forwards Euros/MT [97.32 - 100.18] [102.40 - 107.00] n.a n.a n.a Coal swaps US Dollar/ MT [103.80 - 110.69] n.a n.a n.a n.a 43. Commitments Operating guarantees granted by EDP Group, not included in the consolidated statement of financial position nor in the Notes, are as follows: Group Company Thousand Euros Dec 2025 Dec 2024 Dec 2025 Dec 2024 Operating guarantees EDP S.A. 777,894 870,776 777,894 870,776 EDP España Group 181,521 119,119 — — EDP Brasil Group 172,172 197,041 — — EDP Renováveis Group 3,343,002 3,691,148 — — 4,474,589 4,878,084 777,894 870,776 The operating guarantees which are not included in the consolidated statement of financial position or in the Notes, as at 31 December 2025 and 2024, mainly refer to Power Purchase Agreements (PPA), interconnection, permits and market participation guarantees. In 2025, in addition to the above warranties, the amount of 128,688 thousand Euros refers to guarantees of an operating nature related to Spanish and Polish entities sold in 2022, North American, Polish and Italian entities sold in 2024 and Spanish, Singaporean,Italian, Greek,Belgian and French entities sold in 2025 (see note 6), but for which EDP assumes the responsibility temporarily until they are effectively replaced. Related to entities that have been sold, the Group has provided parent company guarantees to cover non-payment of obligations that may arise from the sale agreement and related to the operational performance of the projects, which the Group assesses as very unlikely to materialize. In addition to the guarantees identified above, EDP Group provides financial and operating guarantees related to liabilities assumed by joint ventures and associates in the amount of 990,799 thousand Euros and 836,930 thousand Euros, respectively (31 December 2024: 967,200 thousand Euros and 848,289 thousand Euros). The remaining financial and operating guarantees granted by EDP Group have underlying liabilities that are already reflected in its consolidated statement of financial position and/or disclosed in the Notes. In the Group, the commitments relating to future cash outflows not reflected in the measurement of the lease liabilities and purchase obligations are disclosed, by maturity, as follows: Dec 2025 Capital outstanding by maturity Thousand Euros Total Less than 1 year From 1 to 3 years From 3 to 5 years More than 5 years Lease Liabilities 220,641 63,269 28,821 9,973 118,578 Purchase obligations 17,937,010 5,201,138 3,214,073 1,915,165 7,606,634 18,157,651 5,264,407 3,242,894 1,925,138 7,725,212 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 418
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Dec 2024 Capital outstanding by maturity Thousand Euros Total Less than 1 year From 1 to 3 years From 3 to 5 years More than 5 years Lease Liabilities 182,443 20,094 27,882 13,444 121,023 Purchase obligations 19,628,926 6,021,018 3,223,188 2,422,392 7,962,328 19,811,369 6,041,112 3,251,070 2,435,836 8,083,351 The Group’s contractual commitments shown above relate essentially to agreements and commitments required for current business activities. Specifically, the majority of the commitments are established to guarantee adequate supply of energy to the customers in Europe, North America and Brazil and to comply with medium and long term investment objectives of the Group. There are commitments from lease liabilities which refer to future rents of lease contracts already signed but not yet commenced. The commitments related to the joint ventures are disclosed in note 21. Purchase obligations of 6,611,442 thousand Euros essentially related with very long-term contracts for energy acquisition in the brazilian market (by regulatory imposition) which are updated with the respective projected rates and discounted at present value by a rate that represents the weighted average cost of capital (WACC) of the EDP Brasil Group, as follows: Thousand Euros Dec 2025 Dec 2024 Purchase obligation - Present value 6,611,442 6,693,820 Purchase obligation - Nominal amount 9,521,810 9,527,084 Purchase obligations also include obligations of long term contracts relating to the supply of products and services under the Group’s ordinary course of business. Prices defined under forward contracts are used in estimating the amount of contractual commitments. The nature of purchase obligations breaks down as follows: Thousand Euros Dec 2025 Dec 2024 Fuel acquisition 3,591,970 4,214,615 Electricity acquisition 8,582,630 8,748,199 O&M contracts 1,115,162 1,004,691 Fixed assets, equipment and miscellaneous materials acquisition 1,170,614 1,804,063 Supply and assembly contract 1,960,294 2,291,609 Other supplies and services 1,516,340 1,565,749 17,937,010 19,628,926 The commitments for fuel and electricity acquisition are disclosed, by maturity, as follows: Dec 2025 Capital outstanding by maturity Thousand Euros Total Less than 1 year From 1 to 3 years From 3 to 5 years More than 5 years Fuel acquisition 3,591,970 356,689 543,003 526,131 2,166,147 Electricity acquisition 8,582,630 863,189 1,631,915 1,065,247 5,022,279 12,174,600 1,219,878 2,174,918 1,591,378 7,188,426 Dec 2024 Capital outstanding by maturity Thousand Euros Total Less than 1 year From 1 to 3 years From 3 to 5 years More than 5 years Fuel acquisition 4,214,615 464,794 609,994 574,686 2,565,141 Electricity acquisition 8,748,199 962,624 1,580,051 1,239,482 4,966,042 12,962,814 1,427,418 2,190,045 1,814,168 7,531,183 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 419
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The caption Fuel Purchases corresponds, essentially, to gas acquisition commitments assumed by the Group through long term contracts for liquefied natural gas (LNG) in international terminals (United States of America until 2040). Some of the transactions related to the disposal of non-controlling interests without loss of control, carried out in previous years, incorporate contingent assets and liabilities according to the terms of the corresponding agreements. Additionally, some of the assets acquisition transactions foresee contingent liabilities which depend on certain milestones and, although EDP Group has recognized the fair value of these liabilities in the consolidated financial statements, changes in the assumptions could change these liabilities. At Company level, the commitments relating to future cash outflows not reflected in the measurement of the lease liabilities and purchase obligations are disclosed, by maturity, as follows: Dec 2025 Capital outstanding by maturity Thousand Euros Total Less than 1 year From 1 to 3 years From 3 to 5 years More than 5 years Lease Liabilities 13 13 — — — Purchase obligations 209,151 75,941 95,016 26,605 11,589 209,164 75,954 95,016 26,605 11,589 Dec 2024 Capital outstanding by maturity Thousand Euros Total Less than 1 year From 1 to 3 years From 3 to 5 years More than 5 years Lease Liabilities 95 95 — — — Purchase obligations 194,362 97,872 74,699 14,811 6,980 194,457 97,967 74,699 14,811 6,980 44. Related parties Shares held by company officers The number of shares of EDP S.A. held or attributable to company officers as at 31 December 2025 and 2024 are as follows: 2025 Nr. of shares 2024 Nr. of shares General and Supervisory Board China Three Gorges Corporation 929,037,388 895,372,977 Shenglian Wu (in representation of China Three Corporation) China Three Gorges International Limited 929,037,388 895,372,977 Guobin Qin (in representation of China Three Gorges International Limited) China Three Gorges (Europe), S.A. 929,037,388 895,372,977 Ignacio Herrero Ruiz (in representation of China Three Gorges (Europe), S.A.) Fernando Maria Masaveu Herrero 289,966,406 285,934,976 Executive Board of Directors Miguel Stilwell de Andrade 700,424 485,212 Ana Paula Garrido de Pina Marques 252,850 126,425 Rui Manuel Rodrigues Lopes Teixeira 302,643 172,368 Vera de Morais Pinto Pereira Carneiro 272,850 146,425 Pedro Collares Pereira de Vasconcelos 56,367 — EDP S.A bonds and the number of shares of other EDP group companies held or attributable to company officers are disclosed in section A Ownership structure of Part II - Corporate Governance Report. Remuneration of company officers In accordance with the Company's by-laws, the remuneration of company officers is set by a Remunerations Committee appointed by the Shareholders’ General Meeting, except for the EDP Integrated Annual Report 2025 Financial Statements and Notes Index 420
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remuneration of the members of the Executive Board of Directors (EBD), which is set by a Remunerations Committee appointed by the General and Supervisory Board (GSB). Short-term employee benefits During 2025, the annual fixed and variable remuneration cost accounted for the members of the EBD and the fixed remuneration of the GSB, was as follows: Thousand Euros EBD GSB President 1,518 592 Members 4,307 1,787 5,825 2,379 The remuneration costs accounted with the EBD includes the amount of 2,174 thousand Euros related to the annual variable remuneration. This amount was calculated considering the best estimation of the variable remuneration for the year of 2025, in accordance with Remunerations Committee policy of the GSB, deducted from the correction of the accrual from the previous year compared with the amount paid. Additionally, the Remunerations Committee policy of the GSB foresees, in certain circumstances, a variable multi-annual remuneration to the EBD members, corresponding to the mandates 2021-2025. On this basis, an estimated amount of 10,065 thousand Euros was accrued (31 December 2024: 10,383 thousand Euros). During 2025, the remuneration costs of the members of the Remunerations Committee of the General Assembly and the Board of the General Assembly mounted to 61,000 Euros and 35,500 Euros, respectively. Post-employment benefits EDP has not created a supplementary pension fund or pension plan for directors by making, instead, contributions/or co-contributions with the administrator to a Savings Plan (PPR) in a net amount at 10% (ten percent) of their remuneration base. The PPR is subscribed by EDP to the insurer of your choice, indicating the administrator as a insured person, and the defined contribution of EDP is paid in twelve monthly installments. As the characteristics of the PPR corresponds to the usual characteristics on the market for this type of product, being reimbursable before the expiry of the term, in the terms legally applicable to these financial products. The PPR currently available to the members of the Executive Board of Directors may, upon the assent of the Remuneration Committee of the General and Supervisory Board, be replaced by capitalizing insurance linked unit or equivalent vehicle, depending on the offer and market practices each time. Audit and non audit fees In 2025, PwC fees relating to external audit and statutory audit of all subsidiaries of EDP Group amounted to 10,093,733 Euros. Additionally, the total fees charged by PwC for other assurance services, which include quarterly reviews, and other non audit services amounted to 2,105,913 Euros and 81,271 Euros, respectively. In 2025, PwC Portugal fees relating to external audit and statutory audit of all subsidiaries of EDP Group in Portugal, amounted to 3,258,530 Euros. The total fees charged by PwC Portugal for other assurance of reliability services, which include quarterly reviews and other non audit services to subsidiaries of EDP Group in Portugal amounted to 1,387,935 Euros and 7,620 Euros, respectively. Business operations between the Company and the members of the Executive Board of Directors and General and Supervisory Board with qualifying holdings and companies in the group or control relationship with EDP In the course of its activity and regardless of their relevance, EDP concludes businesses and operations under normal market conditions for similar transactions with different entities, namely financial institutions, including holders of qualified shareholdings in EDP's share capital and those related parties. On 11 May 2012, after the Strategic Partnership Agreement concluded with China Three Gorges Corporation (CTG) came into effect in December 2011, this company (and three other group companies) became part of EDP's General and Supervisory Board. Under the Strategic Partnership Agreement with China Three Gorges Corporation, on 28 June 2013, EDP Renováveis, S.A. sold for a total final price of 368 million Euros to a CTG Group company (CITIC CWEI Renewables S.C.A.) a 49% shareholding in EDP Renováveis Portugal and 25% of the shareholder loans capital and supplementary capital contributions under the applicable rules for additional EDP Integrated Annual Report 2025 Financial Statements and Notes Index 421
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contributions granted to this company. During 2025, EDPR Portugal distributed dividends to CTG in the amount of 10,780 thousand Euros. Also under this partnership, on 6 December 2013, EDP Brasil signed a Memorandum of Understanding with CWE Investment Corporation (CWEI), currently designated as China Three Gorges Corporation, a wholly owned subsidiary of CTG, setting out the main guidelines for a future partnership in joint investments between EDP Brasil and CWEI and that governs parties' participation in joint projects in Brazil. These investments by CWEI Brasil were considered for purposes of fulfilment of the Strategic Partnership Agreement in relation to the total investment of 2 billion Euros made by CTG up to 2015 (including co-funding of operating investments) in ready-to-build and operational renewable energy generation projects. On 19 May 2015, EDP Renováveis, S.A. completed the sale to CTG, of a 49% equity shareholding in selected wind farms in Brazil. This transaction was recognised as a sale without loss of control, having the Group recognised non-controlling interests of 50,943 thousand Euros and an impact in reserves attributable to the Group of 10,337 thousand Euros. During 2025, the amount of 6,726 thousand Euros of dividends have been distributed dividends to CTG. On 27 October 2016, the transaction relating with the sale of the minority interest in the wind generation assets of EDP Renováveis, S.A. in Italy and Poland to CTG, which purchase and sale agreement was signed on 28 December 2015 was concluded. CTG, through ACE Poland S.A.R.L. and ACE Italy S.A.R.L., both owned in 100% by ACE Investment Fund LP, an entity owned by China Three Gorges Hong Kong Ltd, subsidiary of CTG, formalised the payment of approximately 363 million Euros corresponding to the final price agreed between the parties. On 30 June 2017, EDP Renewables, SGPS, S.A. completed the sale to ACE Portugal S.A.R.L. (CTG Group), of a 49% equity shareholding in EDPR PT-PE. This transaction was recognised as a sale without loss of control. As communicated to the market on October 9, 2024, in the fourth quarter of 2024, EDP Renewables Europe, S.L.U. acquired all the shares of ACE Lux, S.à r.l. and its subsidiaries ACE Italy, S.à r.l., ACE Poland, S.à r.l., and ACE Portugal, S.à.r.l., which held, respectively, minority interests corresponding to a 49% stake in the companies EDP Renewables Italia, S.r.l., EDP Renewables Polska HoldCo, S.A, and EDPR PT - Parques Eólicos, S.A. On the last quarter of 2023, a new partnership was established with the Asturian based industrial Group Corporación Masaveu, S.A. (“CM”), through the sale of a 50% stake in Aboño. The EDP/CM industrial partnership, consolidated by EDP through equity method, foresees joint-control in the management of Aboño and transfer of liabilities related to the power plant. As communicated to the market on June 17, 2024, EDP completed the sale of a 50% stake that the EDP Group held in Energia Ásia Consultoria, Lda. to China Three Gorges International Limited for a total consideration of approximately 100 million Euros. EDP Group, through EDP Clientes, S.A., provided electricity and gas supply services, solar panel installation services, and other related services to the company Cementos Tutela Veguín in the approximate amount of 29 million Euros (Cementos Tutela Veguín is a subsidiary of the Masaveu Group, which in turn holds 55.9% of Oppidum Capital, S.L.). Additionally, the EDP Group, through EDP Comercial – Comercialização de Energia, S.A., provided services to Exus Management Partners related to the installation of electrical infrastructure enabling the connection of two photovoltaic plants to the Public Electricity Grid, for a total approximate amount of 1 million Euros (Exus Management Partners is a subsidiary of the Masaveu Group, which in turn holds 55.9% of Oppidum Capital, S.L.). EDP, through its subsidiary EDP Renováveis, S.A., settled the second price adjustment and the assignment of shareholder loans associated with the agreement entered into in 2012 between EDP Renewables Europe, S.L.U. and China Three Gorges International (Hongkong) Company Limited (later assigned to China Three Gorges Renewables, S.à.r.l.), in the approximate amount of 12 million Euros. Following the acquisition by China Three Gorges (Spain), S.L.U. of NCP Mula Solar (Spain), S.L. — an e n t i t y t h a t o w n e d t h e s p e c i a l - p u r p o s e v e h i c l e t h a t w a s p a r t y t o a f i n a n c i a l P o w e r P u r c h a s e A g r e e m e n t executed with EDP — China Three Gorges (Spain), S.L.U. became the controlling entity of EDP’s counterparty under the said Power Purchase Agreement, a transaction with a notional value of a p p r o x i m a t e l y 2 5 2 m i l l i o n E u r o s o v e r i t s e i g h t - y e a r t e r m ( C h i n a T h r e e G o r g e s ( S p a i n ) , S . L . U . i s a subsidiary of China Three Gorges (Europe), S.A., which is ultimately owned by China Three Gorges Corporation. Balances with EDP Pension and Medical and Death Subsidy Funds In December 2015, EDP, S.A. signed a lease contract related with the building units of the Porto headquarters (sold to the EDP Pension Fund in December 2015) for a period of 25 years. As at 31 December 2025, the present value of the lease liability amounts to 42,876 thousand Euros (31 December 2024: 44,006 thousand Euros). In September 2017, EDP, S.A. signed a lease contract related with the building of the Lisbon headquarters (given as an in-kind contribution to the EDP Medical and Death Subsidy Funds) for a period of 25 years. As at 31 December 2025, the present value of the lease liability amounts to 82,956 thousand Euros (31 December 2024: 84,551 thousand Euros). EDP Integrated Annual Report 2025 Financial Statements and Notes Index 422
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In December 2025, EDP S.A. entered into a lease agreement for the Lisbon headquarters II building (sold to the EDP Pension Fund in December 2025), for a period of 20 years. As of 31 December 2025, the amount payable relating to lease liabilities totals 50,337 thousand Euros. Balances and transactions with subsidiaries, joint ventures and associates In their ordinary course of business, EDP Group companies establish commercial transactions and operations with other Group companies, whose terms reflect current market conditions. The credits and debits over subsidiaries, joint ventures and associates, at Company level, are as follows: Credits held December 2025 Thousand Euros Intra-Group Financial Mov. Loans and Interests receivable Other Credits Total EDP Comercial, S.A. — 626,624 111,243 737,867 E-Redes – Distribuição de Eletricidade, S.A. — — 34,578 34,578 EDP Finance BV 268,986 1,450,381 764 1,720,131 EDP Produção, S.A. — 1,800,391 31,677 1,832,068 EDP International Investments and Services, S.L. — — 50,895 50,895 EDP Servicios Financieros España, S.A.U. 99,525 — 2,425 101,950 Viesgo Distribución Eléctrica, S.L. — — 22,140 22,140 EDP Global Solutions - Gestão Integrada de Serviços S.A. 53,880 — 244,650 298,530 EDP GEM Portugal, S.A. — — 576,351 576,351 EDP Renováveis Servicios Financieros, S.A. — — 25,567 25,567 CEL Energy - Central Elétrica de Lares, S.A. 1,839 85,068 5,647 92,554 RJCE Energy - Central Elétrica de Ribatejo, S.A. — 101,821 3,600 105,421 VC Expansão, S.A. — 69,585 — 69,585 Hidrocantábrico Distribucion Eléctrica, S.A.U. — — 18,675 18,675 Central Termica Ciclo Combinado Grupo 4, S.L. — — 12,429 12,429 EDP Energias do Brasil, S.A. — — 11,613 11,613 Other 18,480 82 67,098 85,660 442,710 4,133,952 1,219,352 5,796,014 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 423
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December 2024 Thousand Euros Intra-Group Financial Mov. Loans and Interests receivable Other Credits Total EDP Comercial, S.A. — 627,434 81,024 708,458 E-Redes – Distribuição de Eletricidade, S.A — — 24,559 24,559 EDP Finance B.V. — 1,450,309 5,106 1,455,415 EDP Produção, S.A. — 1,526,921 13,846 1,540,767 EDP Renováveis, S.A. — — 40,170 40,170 EDP Servicios Financieros España, S.A.U. 117,134 — 5,281 122,415 EDP España, S.A.U. — — 49,936 49,936 Hidrocantábrico Distribucion Eléctrica, S.A.U. — — 25,247 25,247 EDP GEM Portugal, S.A. — — 605,131 605,131 EDP Renováveis Servicios Financieros, S.A. — — 44,931 44,931 CEL Energy - Central Elétrica de Lares, S.A. — 85,094 — 85,094 RJCE Energy - Central Elétrica de Ribatejo, S.A. — 101,852 — 101,852 Other 13,752 958 137,913 152,623 130,886 3,792,568 1,033,144 4,956,598 Debits held December 2025 Thousand Euros Intra-Group Financial Mov. Loans and Interests payable Other Debits Total EDP Finance B.V. — 1,000,440 73,096 1,073,536 EDP Produção, S.A. 43,874 — 4,579 48,453 SU Eletricidade, S.A. 329,793 — 4,193 333,986 EDP GEM Portugal, S.A. 921,927 — 272,366 1,194,293 EDP Servicios Financieros España, S.A.U. 303,577 1,389,832 7,317 1,700,726 EDP Global Solutions - Gestão Integrada de Serviços S.A. — — 50,057 50,057 E-Redes – Distribuição de Eletricidade, S.A 514,454 — 1,633 516,087 EDP Comercial, S.A. 310,693 — 7,147 317,840 EDP Renováveis Servicios Financieros, S.A. — — 38,892 38,892 EDP Inovação, S.A. 66,853 — 661 67,514 EDP Renováveis, S.A. — — 28,158 28,158 Empresa Hidroeléctrica do Guadiana, S.A. 81,742 — 800 82,542 EDP Internacional, S.A. 22,331 — 14 22,345 Viesgo Infraestructuras Energéticas, S.L. — — 33,727 33,727 Other 52,145 — 32,569 84,714 2,647,389 2,390,272 555,209 5,592,870 At 31 December 2025, the amount of 1,000,440 thousand Euros mainly includes an intragroup bond issuance placed with EDP Finance B.V. and carried out by EDP S.A. The amount of 1,389,832 thousand Euros mainly includes an intragroup bond issuance placed with EDP Servicios Financieros España, S.A.U. and carried out by EDP S.A., in the total amount of 501,241 thousand Euros. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 424
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December 2024 Thousand Euros Intra-Group Financial Mov. Loans and Interests payable Other Debits Total EDP Finance B.V. 270,116 1,820,389 41,570 2,132,075 EDP Produção, S.A. 27,331 — 30,698 58,029 SU Eletricidade, S.A. 673,931 — 3,999 677,930 EDP GEM Portugal, S.A. 413,707 — 347,149 760,856 EDP Servicios Financieros España, S.A.U. 15,592 888,673 220 904,485 Viesgo Infraestructuras Energéticas, S.L. — — 22,756 22,756 E-Redes – Distribuição de Eletricidade, S.A 233,982 — 11,238 245,220 EDP Comercial, S.A. 46,126 — 24,261 70,387 EDP Renováveis Servicios Financieros, S.A. — — 27,751 27,751 EDP Global Solutions - Gestão Integrada de Serviços, S.A. 66,611 — 5,675 72,286 CEL Energy - Central Elétrica de Lares, S.A. 85,027 — — 85,027 RJCE Energy - Central Elétrica de Ribatejo, S.A. 101,737 — — 101,737 Other 60,231 — 71,476 131,707 1,994,391 2,709,062 586,793 5,290,246 Expenses and income related to Subsidiaries, Joint Ventures and Associates, at Company level, are as follows: Expenses December 2025 Thousand Euros Interest on Intra-Group Financial Mov. Interest on Loans Obtained Other Losses Total EDP Finance BV 3,236 28,467 53,463 85,166 SU Eletricidade, S.A. 11,319 — 626 11,945 EDP Renováveis, S.A. — — 69,644 69,644 EDP GEM Portugal, S.A. 18,267 — 443 18,710 EDP Global Solutions - Gestão Integrada de Serviços S.A. 550 — 50,039 50,589 EDP Renováveis Servicios Financieros, S.A. — — 63,012 63,012 EDP Servicios Financieros España, S.A.U. 2,409 39,787 15,972 58,168 Other 14,844 — 13,671 28,515 50,625 68,254 266,870 385,749 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 425
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December 2024 Thousand Euros Interest on Intra-Group Financial Mov. Interest on Loans Obtained Other Losses Total EDP Finance B.V. 1,860 110,164 34,729 146,753 EDP Produção, S.A. 24,515 — 92 24,607 EDP Renováveis S.A. — — 62,515 62,515 EDP GEM Portugal, S.A. 27,952 — 73,569 101,521 EDP International Investments and Services, S.L. — — 19,992 19,992 EDP Renováveis Servicios Financieros, S.A. — — 77,699 77,699 EDP Servicios Financieros España, S.A.U. 15,593 19,129 4,785 39,507 Other 18,067 — 63,130 81,197 87,987 129,293 336,511 553,791 Income December 2025 Thousand Euros Interest on Intra-Group Financial Mov. Interest on Loans Granted Other Gains Total EDP Comercial, S.A. 1,595 25,541 110,565 137,701 E-Redes – Distribuição de Eletricidade, S.A. 357 — 17,033 17,390 EDP Produção, S.A. 723 88,976 764,205 853,904 EDP Finance BV 2,305 55,105 23,215 80,625 EDP Global Solutions - Gestão Integrada de Serviços S.A. 611 — 314,134 314,745 EDP Renováveis, S.A. — — 87,988 87,988 EDP GEM Portugal, S.A. 1,452 — 335,768 337,220 Viesgo Infraestructuras Energéticas, S.L. — — 38,118 38,118 EDP Renováveis Servicios Financieros, S.A. — — 54,323 54,323 EDP International Investments and Services, S.L. — — 43,776 43,776 EDP Renewables Europe, S.L.U. — — 12,707 12,707 EDP Servicios Financieros España, S.A.U. 2,346 — 13,350 15,696 Other 2,678 8,643 39,135 50,456 12,067 178,265 1,854,317 2,044,649 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 426
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Other gains include income from equity investments of 1,015,673 thousand Euros (see note 13). December 2024 Thousand Euros Interest on Intra-Group Financial Mov. Interest on Loans Granted Other Gains Total EDP Comercial, S.A. 9,420 13,874 241,101 264,395 E-Redes – Distribuição de Eletricidade, S.A 652 7,929 184,962 193,543 EDP Produção, S.A. 216 116,985 315,020 432,221 EDP Finance B.V. 28,475 26,105 63,626 118,206 SU Eletricidade, S.A. 6,513 — 30,527 37,040 EDP Renováveis, S.A. — — 290,088 290,088 EDP GEM Portugal, S.A. 1,635 — 510,656 512,291 EDP Clientes, S.A. — 18 38,112 38,130 EDP Renováveis Servicios Financieros, S.A. — — 67,925 67,925 EDP España, S.A.U. — — 163,700 163,700 Other 1,306 97 109,270 110,673 48,217 165,008 2,014,987 2,228,212 Assets, liabilities and transactions with related companies, for the Group, are as follows: Assets and Liabilities December 2025 Thousand Euros Assets Liabilities Net Value Joint Ventures Hidrocantábrico JV, S.L. 75,164 — 75,164 Aboño Generaciones Eléctricas, S.L.U. 106,187 93,137 13,050 Empresa de Energia São Manoel S.A. 15,189 753 14,436 OW FS Offshore, S.A. 500,099 — 500,099 OW Offshore, S.L. 38,861 5,686 33,175 Other 18,504 25,968 -7,464 754,004 125,544 628,460 Associates Parque Eólico Sierra del Madero, S.A. 5,634 — 5,634 Centrais Elétricas de Santa Catarina, S.A. - Celesc 11,180 — 11,180 Eólica de São Julião, Lda. 456 593 -137 HC Tudela Cogeneración, S.L. 571 617 -46 Other 482 2,844 -2,362 18,323 4,054 14,269 772,327 129,598 642,729 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 427
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December 2024 Thousand Euros Assets Liabilities Net Value Joint Ventures Hidrocantábrico JV, S.L. 100,866 — 100,866 Aboño Generaciones Eléctricas, S.L.U. 6,150 75,778 -69,628 Companhia Energética do JARI - CEJA 3,636 390 3,246 Empresa de Energia São Manoel, S.A. 260 10,958 -10,698 OW FS Offshore, S.A. 513,569 — 513,569 OW Offshore, S.L. 45,081 329 44,752 OW North America LLC 9 3,401 -3,392 Other 15,213 13,977 1,236 684,784 104,833 579,951 Associates Parque Eólico Sierra del Madero, S.A. 5,638 — 5,638 Centrais Elétricas de Santa Catarina, S.A. - Celesc 9,117 — 9,117 Eólica de São Julião, Lda. 3,929 597 3,332 HC Tudela Cogeneración, S.L. 3,539 623 2,916 Porto do Pecém Geração de Energia, S.A. 7,985 1,063 6,922 Other 2,485 1,080 1,405 32,693 3,363 29,330 717,477 108,196 609,281 Transactions December 2025 Thousand Euros Operating Income Financial Income Operating Expenses Financial Expenses Joint Ventures Aboño Generaciones Eléctricas, S.L.U. 247,015 1,323 155,232 1,224 Empresa de Energia São Manoel S.A. 28,166 — 10,069 — Sol V - Riverstart 650 — 6,842 — OW FS Offshore, S.A. 20,399 26,407 — — Lexington Chenoa Wind Farm LLC 1,448 — 6,878 — Redbed Plains Wind Farm LLC 4,564 — 2,500 — Other 14,725 6,893 9,419 13 316,967 34,623 190,940 1,237 Associates Eólica de São Julião, Lda. 1,855 6,699 7,989 — HC Tudela Cogeneración, S.L. 140 30 3,994 — Eos Pax IIa, S.L. — 2,189 — — Other 480 357 135 — 2,475 9,275 12,118 — 319,442 43,898 203,058 1,237 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 428
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December 2024 Thousand Euros Operating Income Financial Income Operating Expenses Financial Expenses Joint Ventures Aboño Generaciones Eléctricas, S.L.U. 168,268 — 251,934 2,487 Empresa de Energia São Manoel S.A. 2,306 — 11,423 — OW FS Offshore, S.A. 20,215 27,572 — — Meadow Lake Wind Farm VI LLC 1,311 — 4,404 — Riverstart Solar Park LLC 1,965 — 14,429 — Lexington Chenoa Wind Farm LLC 1,507 — 8,174 — Hidrocantábrico JV, S.L. 52 8,122 — — Companhia Energética do JARI - CEJA 5,022 — 5,669 — Other 21,828 431 5,471 644 222,474 36,125 301,504 3,131 Associates Eólica de São Julião, Lda 1,528 6,450 8,231 — HC Tudela Cogeneración, S.L. 81 38 3,939 — Porto do Pecém Geração de Energia, S.A. 2,099 1,766 13,747 — Other 383 524 89 — 4,091 8,778 26,006 — 226,565 44,903 327,510 3,131 During 2025, EDP Group contributed with 12,000 thousand Euros of donations to Fundação EDP (see note 11). Additionally, management describes other transactions with related parties in the section A - Ownership structure of Part II - Corporate Governance Report. The aforementioned chapter includes transactions with holders of qualified shareholding positions as required by the Securities Code which are out of scope of IAS 24. 45. Fair value of financial assets and liabilities Fair value of financial instruments is based, whenever available, on listed market prices. Otherwise, fair value is determined through quotations supplied by third parties or through the use of generally accepted valuation models, which are based on cash flow discounting techniques and option valuation models. These models use market data which impacts the financial instruments, namely yield curves, exchange rates and volatility indicators, including credit risk. Market data is available on stock exchanges and/or financial information platforms such as Bloomberg and Reuters. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 429
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The fair value of financial assets and liabilities is as follows: Dec 2025 Dec 2024 Thousand Euros Carrying amount Fair Value Difference Carrying amount Fair Value Difference Assets Equity instruments at fair value 204,373 204,373 — 215,278 215,278 — Investment property 18,523 18,523 — 20,101 20,101 — Debtors/other assets from commercial activities 7,128,436 7,128,436 — 7,711,164 7,711,164 — Other debtors and other assets: Derivative financial instruments 1,260,450 1,260,450 — 1,064,978 1,064,978 — Loans to related parties - OW FS 372,222 367,887 -4,335 371,341 346,877 -24,464 Other 1,547,235 1,547,235 — 1,344,377 1,344,377 — Collateral deposits/financial debt 71,052 71,052 — 42,569 42,569 — Cash and cash equivalents 3,929,932 3,929,932 — 3,631,284 3,631,284 — 14,532,223 14,527,888 -4,335 14,401,092 14,376,628 -24,464 Liabilities Financial debt 21,790,889 21,913,406 122,517 21,650,835 21,634,494 -16,341 Trade payables/other liabilities from commercial activities: Suppliers and accruals 2,318,387 2,318,387 — 3,058,313 3,058,313 — Other 3,348,846 3,348,846 — 4,153,074 4,153,074 — Institutional partnerships 2,915,509 2,915,509 — 2,972,735 2,972,735 — Other liabilities and other payables: Derivative financial instruments 1,301,171 1,301,171 — 1,428,486 1,428,486 — Other 2,633,449 2,633,449 — 2,659,008 2,659,008 — 34,308,251 34,430,768 122,517 35,922,451 35,906,110 -16,341 Given that EDP Group’s financial assets and liabilities, recognised at amortised cost, are predominantly short-term, changes in fair value were not considered. Fair value of EDP Group’s financial debt was determined considering current market, namely listed price (level 1). The market value of financial debt, when no listed market prices are available, is calculated based on the discounted cash flows at market interest rates at the reporting date, increased by the best estimate, at the same date, of market conditions applicable to Group's debt. Loans to related parties - OW FS regards long-term maturity loans granted to OW FS Offshore, S.A. (see note 27). These loans bear interest at market rates, which are fixed or with reference rate indexed, such as Euribor and SOFR, plus a market spread. Given the long-term maturity, for fixed rate loans fair value has been calculated based on the discounted cash flows at market interest rates at the reporting date. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 430
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According to IFRS 13 requirements, EDP Group established the way it obtains the fair value of its financial assets and liabilities. The levels used are defined as follows: Dec 2025 Dec 2024 Thousand Euros Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Financial assets Equity instruments at fair value through (see note 22): Other comprehensive income 8,143 75,992 16,646 8,343 87,553 20,200 Profit or loss — — 103,592 — — 99,182 Tariff deficit at fair value through other comprehensive income (see note 26) — 263 — — 659 — Amounts receivable from concessions-IFRIC 12 at fair value through profit or loss (see note 26) — 749,272 — — 584,865 — Investment property (see note 22) — 18,523 — — 20,101 — Derivative financial instruments (see note 42) — 1,248,730 11,720 — 1,064,978 — 8,143 2,092,780 131,958 8,343 1,758,156 119,382 Financial liabilities Derivative financial instruments (see note 42) — 1,294,725 6,446 — 1,428,486 — — 1,294,725 6,446 — 1,428,486 — The market value of the amounts of tariff deficit at fair value through other comprehensive income is calculated based on the cash flows associated with these assets, discounted at rates which, at the reporting date, better reflect the assets risk considering the average term of the assets. The Amounts receivable from concessions - IFRIC 12 at fair value through profit or loss are valued based in the methodology of the Value of Replacement as New (VNR). This method requires that each asset is valued, at current prices, for all the expenses needed for its replacement by equivalent asset that performs the same services and has the same capacity as the existing asset. The valuation for each asset is based on (i) Data Bank of Referential Prices - which is defined in the Tariff Adjustment Procedures - PRORET; or (ii) Data Bank of Prices from the Distribution company - which is formed based on the company's own information; or (iii) Referential Budget – that corresponds to the calculation by comparison of market data, relating to other assets with similar characteristics. ANEEL reviews the VNR, through the valuation report of the Regulatory Remuneration Base, every three years for EDP Espírito Santo and every four years for EDP São Paulo, as established in the concession contracts. The market value of investment properties is based on assessments using current market practices: the comparative method, in cases where there is an active and comparable market, the income method, through discounted cash flows and the cost method, which considers the market value of the land and the construction costs. The movement in financial assets and liabilities included in Level 3 is as follows: At fair value through Thousand Euros Other comprehensive income Profit or loss Balance at beginning of period 20,200 99,182 Change in fair value (see note 22) 590 244 Acquisitions 334 4,032 Disposals -3,389 — Other changes -1,089 134 Balance at the end of the period 16,646 103,592 The assumptions used in the determination of Equity Instruments at Fair Value are described in note 22, as required by IFRS 13. 46. Relevant or subsequent events EDP informs about PPA secured for a 150 MWac solar project in US On 7 January 2026, EDPR has secured a 30-year Power Purchase Agreement with Consumers Energy Company (CeC) for the clean energy generated by a 150MWac (209 MWdc) solar project in Clark County, Illinois, USA. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 431
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Management transaction related to Masaveu Internacional, S.L. acquisition of shares On 26 January 2026, pursuant to and for the purposes of Article 19 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council, of Delegated Regulation (EU) no. 2016/523 of the Commission and in Article 29- R of the Portuguese Securities Code, EDP provided the following information to the market and to the public in general: On 23 January 2026, D. Fernando Masaveu Herrero, member of the General and Supervisory Board, notified EDP about the acquisition of shares made by the company Masaveu Internacional, S.L., legal entity closely associated with him. EDP issues €650 million senior European green notes On 28 January 2026, EDP – Servicios Financieros España, S.A.U. priced the issuance of European green debt instruments in the amount of 650 million Euros, maturing February 2032 and with a coupon of 3.25%. EDP completes Asset Rotation deal for a 150 MW wind portfolio in Greece On 29 January 2026, EDPR has completed the Sale and Purchase Agreement with Principia, a company jointly owned by Enel SpA and funds managed by Macquarie Asset Management, to sell a 100% equity stake of a 150 MW wind portfolio in Greece. Extreme weather events in Portugal After the reporting date, Portugal was affected by extreme weather events that caused power supply disruptions and temporary impacts on certain of the Group’s renewable generation assets. As of the date of approval of the financial statements, virtually all affected customers have had their service restored and most of the impacted wind and solar capacity has been recovered, with the remaining restoration works ongoing. The operation required an exceptional mobilisation of resources in the field. In the area of water management, the Group, in coordination with the Portuguese Environment Agency, ensured the monitoring and management of reservoir levels, with significant discharges carried out to protect populations and infrastructure. Technical and financial assessments of the impacts of these events are ongoing. As of this date, it is not possible to reliably estimate the total financial impact. 47. EDP Branch in Spain The aim of EDP, S.A. - Sucursal en España is to manage and coordinate the energy interests of subsidiaries depending from EDP Group in Spain, organised through managing and monitoring structures, in order to ensure the maximum synergy and value creation in the operations and activities in Spain, also assuming itself as an organizational platform to lead the Iberian integration of shared and support services (back and middle offices). On this basis, interests in EDP Servicios Financieros (España), S.A.U., EDP International Investments and Services, S.L. and EDP España, S.A.U. are directly allocated to the assets of EDP Sucursal, as well as the majority interest in EDP Renováveis, S.A. The Spanish branch of EDP has offices in Madrid and Oviedo. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 432
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The Statement of Financial Position of the Branch is as follows: EDP Branch Thousand Euros Dec 2025 Dec 2024 Investments in subsidiaries: - EDP Renováveis, S.A. 4,554,151 4,491,875 - EDP España, S.A.U. 2,105,002 2,105,002 - EDP Servicios Financieros (España), S.A.U. 482,695 482,695 - EDP International Investments and Services, S.L. 2,365,027 2,365,027 Deferred tax assets 11,447 — Other debtors and other assets 8,176 9,020 Total Non-Current Assets 9,526,498 9,453,619 Other debtors and others assets 190,624 166,672 Tax receivable 9,480 10,095 Cash and cash equivalents 99,576 117,181 Total Current Assets 299,680 293,948 Total Assets 9,826,178 9,747,567 Equity 8,769,663 8,695,741 Employee benefits 1,581 1,459 Deferred tax liabilities — 6,629 Other liabilities and other payables 889,663 888,819 Total Non-Current Liabilities 891,244 896,907 Financial debt 29 17,289 Employee benefits — 909 Other liabilities and other payables 162,774 134,164 Tax payable 2,468 2,557 Total Current Liabilities 165,271 154,919 Total Liabilities 1,056,515 1,051,826 Total Equity and Liabilities 9,826,178 9,747,567 48. Environmental matters Expenses of an environmental nature are those identified and incurred to avoid, reduce or repair damage of an environmental nature resulting from the company's normal activity. Expenses of an environmental nature are booked as expenses for the period, except if they qualify to be recognised as an asset according with IAS 16. Investments of an environmental nature booked as Property, plant and equipment and intangible assets during 2025 and 2024, in the Group, are as follows: Group Thousand Euros Dec 2025 Dec 2024 Air and climate protection 1,563 2,167 Water management 30 150 Waste management 41 78 Soil, subterranean and surface water protection 18,579 19,958 Noise and vibration reduction 199 137 Biodiversity protection 18,700 17,033 Landscape protection 24,104 13,450 Energetic efficiency 9,154 9,497 Radiations management — 6 Research and development in the environmental area 1,725 752 Other environmental management and protection activities 13,252 14,630 Environmental impact studies 36 6 87,383 77,864 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 433
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During 2025 and 2024, the Group recognised expenses that are as follows: Group Thousand Euros Dec 2025 Dec 2024 Air and climate protection 242,037 101,108 Water management 7,266 6,104 Waste management 15,135 8,754 Soil, subterranean and surface water protection 2,710 3,492 Noise and vibration reduction 268 215 Biodiversity protection 10,522 11,244 Landscape protection 104 212 Energetic efficiency 14,166 11,821 Radiations management 24 20 Research and development in the environmental area 288 352 Other environmental management and protection activities 4,331 7,593 296,851 150,915 Under current and future socioeconomic trends and practices followed by the EDP Group regarding environmental sustainability, the Group accounts for provisions to cover the costs of dismantling, decommissioning, restoring and decontaminating land where electric power plants are located, of 53,214 thousand Euros and 108,392 thousand Euros for thermoelectric power plants located in Portugal and Spain, respectively. Regarding the liability to dismantle and restore the land where solar and wind farms are located to its original condition, as at 31 December 2025, the provisions amount to 557,908 thousand Euros. Additionally, the provision to dismantle the Trillo nuclear power plant amounts to 48,639 thousand Euros (see notes 2n) and 36). The provisions have been estimated on the basis of the discount rates disclosed in note 36, reflecting the estimated costs of decommissioning and land replacement. The Group's target of recovering more than 85% of waste over the life cycle of the assets (Business Plan 2026-2028) is considered in the estimation of decommissioning costs. Environmental income recognised in 2025 relates to the sale of environmental waste of 3,073 thousand Euros (31 December 2024: 3,407 thousand Euros) and the sale of by-products of 3,062 thousand Euros (31 December 2024: 3,002 thousand Euros). EDP’s prioritization of investment in renewable generation started in 2006, through the anticipation of major trends in the energy market and the support to the vision of a society capable of reducing CO2 emissions, by replacing thermal with renewable energy, decentralizing generation, promoting smart grids, energy storage and encouraging the demand for renewable electricity. At the time of the definition of the Strategic Plan 2023-2026, EDP Group reinforced its ambition even further to reach Net Zero by 2040 by including our Scope 3 emissions in our targets. With a new baseline year set for 2020, EDP aims to reach net-zero greenhouse emissions across the value chain by 2040, with ambitious mid-term targets by 2030. These targets have been approved by SBTi under the Net Zero Standard. Considering the risks related to climate change and the commitments established under the Paris Agreement, EDP Group has decided, since 2019, to achieve science-based targets. The last target update occurred in 2022, with a baseline year set for 2020, EDP aims to reach net-zero emissions across the value chain by 2040, with ambitious mid-term targets by 2030. The overall goal is to reduce 90% of scope 1, 2 and 3 emissions by 2040 vs. 2020 with near term targets by 2030. These targets have been approved by SBTi under the Net Zero Standard, in early 2023. The reflect of these commitments in terms of its impact on assets, liabilities and profit and loss are explicit in the notes to the consolidated and company financial statements. These climate commitments were recorded in EDP’s Climate Transition Plan, published for the first time in 2023 and which was approved by a majority of votes (99.73%) in the General Meetings of shareholders held in April of that year. EDP's Climate Transition Plan was revised in 2025 to ensure alignment with the latest strategic update of the 2026-2028 Business Plan and was approved by EDP's Executive Board of Directors. The proceeds of green bonds, green loans, and sustainability-linked loans contribute substantially to the implementation of EDP’s Climate Transition Plan and to reach our objective of becoming net zero by 2040. In the end of 2025, sustainable finance amounted to 22.8 billion Euros: (i) 14.2 billion Euros in green bonds; (ii) 7.9 billion Euros in sustainability-linked loans and (iii) 0.7 billion Euros in green loans, which represented 80% of the nominal debt. The Group recognizes the impacts and dependencies of its activities on biodiversity and ecosystems. In 2025, 171 operational sites were identified in or adjacent to protected areas (WDPA) and 99 sites in Key Biodiversity Areas (KBA). The investment in biodiversity protection (18,700 thousand Euros) and landscape protection (24,104 thousand Euros) reflects the application of the mitigation hierarchy throughout the projects' life cycle. Additionally, the EBD remuneration policy establishes a fixed component and a variable component, the latest including Climate and ESG KPIs in alignment with the Business Plan, namely: CO2 intensity reduction target aligned with public commitments, renewables installed capacity, DJSI performance, EDP Integrated Annual Report 2025 Financial Statements and Notes Index 434
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Total Frequency Rate, and Climate Survey results — ensuring alignment between executive remuneration and the Group's sustainability commitments. EDP ensures full connectivity between the non-financial information disclosed in the Sustainability Statement and the financial assumptions underpinning these financial statements. Additionally, impairment tests incorporate climate scenarios consistent with the detailed risk analyses in the Sustainability Statement, including sensitivities to variations in production volumes and electricity prices. Biodiversity assessment and resource management are integrated into the analysis of dismantling provisions as described in Note 32. In compliance with ESMA’s enforcement priorities for 2024 and 2025, we have verified that our climate-related commitments (Net Zero 2040) are reflected in asset valuation, useful lives, and provisions, ensuring no material inconsistencies exist. Finally, in the table below we mapped how the several notes to the EDP consolidated and company financial statements, are addressing the climate change matters: Topic Note Content Estimates and judgements in preparing the financial statements Note 4. Critical accounting estimates and judgements in preparing the financial statements Focus on the useful life of the EDP’s assets Amortisation and impairment Note 12. Amortisation and impairment Note 19. Goodwill Review of future estimates of value by carrying out impairment tests for some of the production assets Sustainable investment Note 16. Property, plant and equipment Focus on renewable assets Sustainable finance Note 34. Financial debt Focus on issues of green bonds; green loans and sustainability- linked loans Provisions Nota 36. Provisions Focus on the impact of climate change in particular those for dismantling and decommissioning of generation plants Divestment policy Note 41. Non-Current assets and liabilities held for sale Focus on the divestment policy of coal generation assets Environmental finance Note 48. Environmental matters Focus on expenses and investments related with climate change 49. CAE/CMEC/DPH Procedure Following the enactment of the EU’s legislation package on the Internal Energy Market, long-term power purchase agreements - PPA’s (“Contratos de Produção de Energia” – CAE) ceased to be compatible with the EU law within Portugal’s “single buyer” legal framework. Portugal’s Decree-Law no. 240/2004, dated 27 December 2004 enacted within the liberalization of the Portuguese energy sector, established the early termination of the PPA entered into in 1996, while approving the methodology for such termination and the compensation to energy producers. The above referred methodology was subject to the European Commission’s (EC) prior approval, expressed in the Directive concerning State aid N161/2004, deeming it effective and strictly necessary. Additionally, the enactment of the Decree-Law by the government was authorized by the Portuguese Parliament. According to the approved methodology, both EDP and Portugal’s national energy grid - REN (Rede Eléctrica Nacional, S.A.) signed the PPA early termination agreements in 2005, enforced on the 1 July 2007, amended earlier that year and previously ratified by the head of energy appointed by the Portuguese Government. The provisions of the 2005 PPA termination agreements, dated 8 March 2008, established that the Government, REN and EDP Produção entered concession agreements formally embodying EDP’s right of use over the Public Hydro Domain (“Domínio Público Hídrico” – DPH) until the end of the operational life of the hydroelectric plants subject to Costs of Maintenance for the Contractual Balance mechanism (“Custos de Manutenção do Equilíbrio Contratual” – CMEC). The Decree-Law 226-A/2007, dated 31 May 2007, introduced a new obligation for EDP, unforeseen in the previous 2004 legislation or in the 2005 termination agreements. This consisted of the payment by EDP of an amount reflecting the “economic and financial balance” per power plant. According to this legal framework, and following assessments carried out by two independent financial institutions appointed by the Government, EDP Produção was ordered to pay 759 million Euros, for the extension of its right of use over the DPH, including approximately 55 million Euros for the Hydro Resources Tax. In 2012, a complaint was placed to the EC and the Portuguese authorities at DCIAP-Central Department of Criminal Investigation and Prosecution (“Departamento Central de Investigação e Ação Penal”) related to (i) the methodology adopted for the early termination of the PPAs and the implementation of the CMEC mechanism and; (ii) EDP’s right of use over the DPH. As a result, the EC addressed a clarification request to the Portuguese Government over the early termination of the PPAs, and its replacement by the CMEC framework. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 435
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The EC’s ruling came in September 2013 establishing that the compensation attributed to EDP Produção did not exceed the amount required to reimburse the investment costs to be recovered throughout the operational life of the related assets. In addition, it certified the execution of the CMEC framework in line with the terms notified to the EC, approved in 2004. Accordingly, the EC has at this stage concluded its investigation regarding the early termination of the PPAs. Having found no evidence of non-compliance with the framework in force in Portugal (approved by the EC itself in 2004) or at the EU level, it decided not to pursue an in-depth investigation on the matter. Separately, the EC decided to undertake an in-depth investigation in September 2013 related to the right of use over the DPH matter. These in- depth proceedings were formally concluded in May 2017 with the EC’s ruling that EDP’s pay was in line with market conditions. It ruled that the financial methodology used to determine the price to be paid by EDP for the right of use over the DPH was appropriate and resulted in a fair market price, expressly formulating as unfounded the accusations of underappreciation or inaccurate financial calculation methodology related to the 759 million Euros price. On 2 June 2017, EDP was made aware of the investigation by DCIAP ongoing since 2012 related to the amounts to EDP for the early termination of the PPAs and the right of use over the DPH. On that date, Portuguese authorities carried out searches at EDP, REN (national grid) and at a consulting firm. DCIAP issued a public release on the ongoing investigation, the nature of the alleged facts related to active and passive corruption, in addition to alleged economic participation in business transactions involving executive members of EDP’s Board, as well as placing former company directors under investigation. On 6 July 2020, the Public Prosecutor’s Office issued a restraining order suspending both the executive chair António Mexia and the executive board member João Manso Neto, with the investigation at the inquiry stage. This resulted in the General and Supervisory Board and the Executive Board of Director’s decision to appoint then Chief Financial Officer Miguel Stilwell d’ Andrade as interim Chair, for the duration of the impediment of the suspended members. On 13 July 2020, EDP was notified by the Portuguese Authorities to appoint a legal representative at the DCIAP for questioning and subsequently placed as a defendant in relation to the hiring of the former Energy Under-Secretary Artur Trindade’s father. This legal case was pursued separately from the PPA/ CMEC proceeding and remains under investigation. On 30 November 2020, both suspended members of the Executive Board of Directors gave their formal notice to EDP and informed of their unavailability to be re-appointed to their term in office. On 19 of January 2021, the company held an Extraordinary General Shareholders’ Meeting appointing a new management team to the Executive Board of Directors for the 2021-2023 term-of-office. As a recent development to this case, Portugal’s Public Prosecutor’s Office released a statement on 28 October 2024, issuing an accusation to six defendants including former EDP’s EBD members António Mexia and João Manso Neto. This relates to facts occurred between 2006 and 2014, in relation to the PPA-CMEC transition, notably the alleged overevaluation of the CMEC, in addition to “(…) the award of the Alqueva and Pedrogão dams to (…) EDP without a public tender and also to the payment of a chair at Columbia University to a former minister.”. In this statement, the Public Prosecutor’s Office mentioned “the State incurred a loss of over 840 million Euros, requiring the return of this amount relating to the loss of assets to the defendants and to EDP Gestão de Produção de Energia and EDP.” EDP is not accused and is not a defendant in this case, and no crime was attributed to EDP on these matters. EDP is targeted in the accusation through the Public Prosecutor’s Office request regarding the loss of EDP and EDP Produção’s assets, pursuant to the “Loss of product and benefits” mechanism in Portugal’s criminal law which establishes that assets of third parties benefiting from an illicit act, may be declared lost in favour of the State. EDP remains adamant of no wrongdoing, reaffirming the belief of the absence of irregularities in this process. Of note, is the fact that the material aspects referred here were covered in depth by national and supra-national institutions, notably the EC as abovementioned. EDP obtained no undue or illicit economic benefit, either with regards to the PPA-CMEC transition or with the extension of the DPH. In relation to the awarding of concessions for the exploration of the Alqueva and Pedrógão hydroelectric plants this process fully followed all legal and contractual terms in force. EDP remains fully committed behind the pursuit of its corporate purpose and the fulfilment of its shareholders, employees, clients, and remaining stakeholders’ highest expectations. EDP is entirely invested in the delivery of its strategic goals with no impact expected to its consolidated financial statements resulting from the above. 50. Operating Segments The Group develops a set of regulated and liberalised activities in the energy sector, with special emphasis in generation, distribution and supply of electricity. The Executive Board of Directors regularly reviews segmental reports, using Operating Information to assess and release each business operating performance, as well as to allocate resources. In this sense, the Executive Board of Directors considered that, given the regulatory activity of the business, last resort suppliers should not be monitored in the Customer Solutions and Energy EDP Integrated Annual Report 2025 Financial Statements and Notes Index 436
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Management segment alongside other suppliers. Therefore, the data from these companies began to be reported in Other Segments. The Renewables, Clients & Energy Management segment corresponds to the activity of generation of electricity from renewable sources, mainly hydro, wind and solar. This segment also includes the following activities: generation of electricity from non-renewable sources, mainly coal and gas; electricity and gas supply, and related energy solutions services to clients; and energy management businesses responsible for management of purchases and sales of energy in Iberian and Brazilian markets, and also for the related hedging transactions. This segment includes, but not limited to, the following companies: • EDP - Gestão da Produção de Energia, S.A.; • EDP España, S.A.U.; • All subsidiaries of the EDPR Group (except EDP Renováveis, S.A., EDP Renováveis Servicios Financieros, S.A. and OW Offshore, S.L.); • Enerpeixe, S.A.; • Investco, S.A.; • Lajeado Energia, S.A.; • EDP Comercial - Comercialização de Energia, S.A.; • EDP Trading Comercialização e Serviços de Energia, S.A.; • EDP GEM Portugal, S.A. The Networks segment corresponds to the activities of electricity distribution and transmission. This segment includes, but not limited to, the following companies: • E-Redes - Distribuição de Eletricidade, S.A.; • Electra de Llobregat Energía, S.L.; • Hidrocantábrico Distribucion Eléctrica, S.A.U.; • Viesgo Distribución Eléctrica, S.L.; • Barras Eléctricas Galaico-Asturianas, S.A.; • EDP Espírito Santo Distribuição de Energia S.A.; • EDP São Paulo Distribuição de Energia S.A.; • EDP Transmissão Goiás, S.A. Other segments mainly include shared services activities supporting the operations of other EDP Group companies, last resort electricity and gas supply, and electricity production through offshore wind energy. This segment also includes the holding companies of the EDP Group. This segment includes, but not limited to, the following companies: • EDP, S.A.; • EDP Global Solutions - Gestão Integrada de Serviços S.A.; • EDP Renováveis, S.A.; • EDP Renováveis Servicios Financieros, S.A.; • OW Offshore, S.L.; • SU Eletricidade, S.A.; • Gás SU, S.A. Segment Definition The amounts reported in each operating segment result from the aggregation of the subsidiaries and business units defined in each segment perimeter and the elimination of transactions between companies of the same segment. The statement of financial position captions, as well as income statement captions for each operating segment, are determined based on the amounts booked directly in the companies that compose the segment, including the elimination of balances between companies of the same segment, and excluding the allocation in the segments of the adjustments between segments. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 437
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In each business segment, Assets include the Property, Plant and Equipment, Right-of-use Assets, Intangible Assets and Goodwill. The remaining assets are presented in the "Reconciliation of information between Operating Segments and Financial Statements". Under IFRS 8, the EDP Group discloses as Operating investment, additions in non-current assets, except for financial instruments, deferred tax assets and post-employment benefit assets. Therefore, in each segment, Operational Investment includes the increases of the year in Property, Plant and Equipment; Intangibles and Amounts receivable under the concession under the financial asset model, excluding CO2 Licenses and Green Certificates, net of increases of the year of Investment Subsidies for Fixed Assets, customer contributions, and property disposals in the current year. In consolidated financial statements, Joint Ventures and associated companies are accounted under the equity method, in accordance with the Group accounting policy disclose in note 2. These equity accounted investees are disclosed by business segment under IFRS 8 and presented in the business segment correspondent to its operating activity. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 438
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EDP Group Operating Segments Information as at 31 December 2025 Thousand Euros Renewables, Clients & EM Networks Total Segments Revenues from energy sales and services and other 10,692,005 4,359,034 15,051,039 Revenues inter-segments 264,010 1,452,219 1,716,229 Revenues from third parties 10,427,995 2,906,815 13,334,810 Gross Profit 4,398,490 2,465,645 6,864,135 Other income 766,978 60,969 827,947 Supplies and services -921,159 -399,484 -1,320,643 Personnel costs and employee benefits -409,516 -217,422 -626,938 Other costs -451,426 -379,062 -830,488 Impairment losses on trade receivables and debtors -53,529 -34,993 -88,522 Joint ventures and associates 108,093 33,619 141,712 Gross Operating Profit 3,437,931 1,529,272 4,967,203 Provisions -280 -11,213 -11,493 Amortisation and impairment -1,369,117 -575,973 -1,945,090 Operating Profit 2,068,534 942,086 3,010,620 Assets 29,800,141 7,225,840 37,025,981 Financial assets - Investments in joint ventures and associates 832,309 180,687 1,012,996 Operating Investment 2,493,071 1,085,425 3,578,496 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 439
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Reconciliation of information between Operating Segments and Financial Statements for 31 December 2025 Total Revenues from energy sales and services and other of Reported Segments 15,051,039 Revenues from energy sales and services and others from Other Segments 2,758,379 Adjustments and Inter-segments eliminations* -2,202,425 Total Revenues from energy sales and services and other of EDP Group 15,606,993 Total Gross Profit of Reported Segments 6,864,135 Gross Profit from Other Segments 608,332 Adjustments and Inter-segments eliminations* -532,774 Total Gross Profit of EDP Group 6,939,693 Total Gross Operating Profit of Reported Segments 4,967,203 Gross Operating Profit from Other Segments 124,251 Adjustments and Inter-segments eliminations* -63,731 Total Gross Operating Profit of EDP Group 5,027,723 Total Operating Profit of Reported Segments 3,010,620 Operating Profit from Other Segments 51,348 Adjustments and Inter-segments eliminations* -62,554 Total Operating Profit of EDP Group 2,999,414 Total Assets of Reported Segments 37,025,981 Assets not allocated 16,917,094 Financial assets 4,305,969 Trade receivables and Other debtors 7,128,436 Inventories 503,613 Deferred tax assets and Tax assets 1,780,647 Other assets 3,198,429 Assets from other segments 1,013,288 Inter-segments assets eliminations* 12 Total Assets of EDP Group 54,956,375 Thousand Euros Total Equity accounted Investments in joint ventures and associates of Reported Segments 1,012,996 Equity accounted Investments in joint ventures and associates from Other Segments 450,337 Total Equity accounted Investments in joint ventures and associates of EDP Group 1,463,333 Total Operating Investment of Reported Segments 3,578,496 Operating investment from other segments 82,263 Total Operating Investment of EDP Group 3,660,759 Dismantling/decommissioning of PP&E 104,732 CO2 Emission licenses 99,901 Concession rights - IFRIC 12 ** -834,611 Other investments 106,176 Total Fixed Assets additions of EDP Group (Notes 16 and 18) 3,136,957 Thousand Euros Total of Reported Segments Other Segments Adjustments and Inter- segments eliminations* Total of EDP Group Other income 827,947 113,530 -95,918 845,559 Supplies and services -1,320,643 -316,994 559,606 -1,078,031 Personnel costs and employee benefits -626,938 -201,787 -292 -829,017 Other costs -830,488 -96,778 6,440 -920,826 Impairment losses on trade receivables and debtors -88,522 -28,135 27,556 -89,101 Joint ventures and associates 141,712 17,947 -213 159,446 Provisions -11,493 -347 4 -11,836 Amortisation and impairment -1,945,090 -72,556 1,173 -2,016,473 * Mainly related with intragroup balances and transactions eliminations; ** See note 26 - Debtors and Other Assets from Commercial Activities. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 440
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EDP Group Operating Segments Information as at 31 December 2024 Thousand Euros Renewables, Clients & EM Networks Total Segments Revenues from energy sales and services and other 9,832,849 4,305,114 14,137,963 Revenues inter-segments 292,348 965,700 1,258,048 Revenues from third parties 9,540,501 3,339,414 12,879,915 Gross Profit 4,348,577 2,464,954 6,813,531 Other income 679,469 136,366 815,835 Supplies and services -893,490 -410,641 -1,304,131 Personnel costs and employee benefits -395,629 -227,556 -623,185 Other costs -448,859 -374,134 -822,993 Impairment losses on trade receivables and debtors -38,288 -30,398 -68,686 Joint ventures and associates 76,890 31,899 108,789 Gross Operating Profit 3,328,670 1,590,490 4,919,160 Provisions -133,638 -13,177 -146,815 Amortisation and impairment -1,740,936 -549,682 -2,290,618 Operating Profit 1,454,096 1,027,631 2,481,727 Assets (31 December 2024) 31,543,293 6,402,152 37,945,445 Financial assets - Investments in joint ventures and associates Assets (31 December 2024) 1,061,598 153,978 1,215,576 Operating Investment 3,724,238 936,214 4,660,452 EDP Integrated Annual Report 2025 Financial Statements and Notes Index 441
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Reconciliation of information between Operating Segments and Financial Statements for 31 December 2024 Total Revenues from energy sales and services and others of Reported Segments 14,137,963 Revenues from energy sales and services and others from Other Segments 2,307,868 Adjustments and Inter-segments eliminations* -1,480,069 Total Revenues from energy sales and services and others of EDP Group 14,965,762 Total Gross Profit of Reported Segments 6,813,531 Gross Profit from Other Segments 497,460 Adjustments and Inter-segments eliminations* -437,512 Total Gross Profit of EDP Group 6,873,479 Total Gross Operating Profit of Reported Segments 4,919,160 Gross Operating Profit from Other Segments * -84,711 Adjustments and Inter-segments eliminations* -33,348 Total Gross Operating Profit of EDP Group 4,801,101 Total Operating Profit of Reported Segments 2,481,727 Operating Profit from Other Segments -156,749 Adjustments and Inter-segments eliminations* -62,995 Total Operating Profit of EDP Group 2,261,983 Total Assets of Reported Segments (31 December 2024) 37,945,445 Assets not allocated 17,528,405 Financial assets 4,373,275 Trade receivables and Other debtors 7,711,164 Inventories 589,926 Deferred tax assets and Tax assets 2,053,244 Other assets 2,800,796 Assets from other segments 968,550 Inter-segments assets eliminations* -11,584 Total Assets of EDP Group (31 December 2024) 56,430,816 Thousand Euros Total Equity accounted Investments in joint ventures and associates of Reported Segments (31 December 2024) 1,215,576 Equity accounted Investments in joint ventures and associates from Other Segments 373,124 Total Equity accounted Investments in joint ventures and associates of EDP Group (31 December 2024) 1,588,700 Total Operating Investment of Reported Segments 4,660,452 Operating investment from other segments 85,000 Total Operating Investment of EDP Group 4,745,451 Dismantling/decommissioning of PP&E 176,513 CO2 Emission licenses 154,792 Concession rights - IFRIC 12 ** -725,181 Other investments 184,624 Total Fixed Assets additions of EDP Group 4,536,199 Thousand Euros Total of Reported Segments Other Segments Adjustments and Inter- segments eliminations * Total of EDP Group Other income 815,835 60,216 -27,895 848,156 Supplies and services -1,304,131 -234,484 421,803 -1,116,812 Personnel costs and employee benefits -623,185 -210,305 824 -832,666 Other costs -822,993 -53,293 9,909 -866,377 Impairment losses on trade receivables and debtors -68,686 -6,063 4,923 -69,826 Joint ventures and associates 108,789 -144,305 663 -34,853 Provisions -146,815 3,660 -23,419 -166,574 Amortisation and impairment -2,290,618 -75,698 -6,228 -2,372,544 * Mainly related with intragroup balances and transactions eliminations ** See note 26 - Debtors and other assets from commercial activities EDP Integrated Annual Report 2025 Financial Statements and Notes Index 442
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51. Reconciliation of Changes in the responsibilities of Financing activities Balance as at 31 December 2023 20,632,691 -70,731 123,708 2,188,245 1,312,730 695,049 — Cash flows: Receipts relating to financial debt (including Collateral Deposits) 5,556,273 18,641 — — — — — (Payments) relating to financial debt (including Collateral Deposits) -3,823,821 — — — — — — Interest and similar costs of financial debt including hedge derivatives -741,634 — -93,348 — — — — Receipts/(payments) relating to loans from non- controlling interests — — — — — 18,927 — Interest and similar costs relating to loans from non- controlling interests — — — — — -19,258 — Receipts/(payments) relating to derivative financial instruments — — -111,934 — — — — Receipts/(payments) from institutional partnerships — — — 828,577 — — — Lease (payments) — — — — -130,596 — — Perimeter variations -146,388 195 -3,141 — -51,327 -86,065 — Exchange differences -235,764 8,021 53,056 165,145 38,915 125 — Fair value changes 7,519 — -74,438 — — — — Group Financial debt and Derivative financial instruments (including Collateral Deposits) Institutional partnerships in North America (Note 37) Lease Liabilities (Note 39) Loans from non- controlling interests (Note 39) Intermed. of electricity system flows financing (Note 39)Thousand Euros Loans obtained (Note 34) Collateral Deposits (Note 34) Derivative financial instruments (Note 42)* Interests and accrued and deferred costs 668,657 — 94,893 10,049 — 19,139 — Unwinding — — — 83,827 51,798 — — ITC/PTC recognition — — — -303,108 — — — Change in benefits recognition — — — — — — New lease contracts/ Increments in rent values — — — — 106,619 — — Reclassification to Liabilities held for sale -266,698 1,305 — — -5,986 — — Balance as at 31 December 2024 21,650,835 -42,569 -11,204 2,972,735 1,322,153 627,917 — Group Financial debt and Derivative financial instruments (including Collateral Deposits) Institutional partnerships in North America (Note 37) Lease Liabilities (Note 39) Loans from non- controlling interests (Note 39) Intermed. of electricity system flows financing (Note 39)Thousand Euros Loans obtained (Note 34) Collateral Deposits (Note 34) Derivative financial instruments (Note 42)* EDP Integrated Annual Report 2025 Financial Statements and Notes Index 443
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Balance as at 31 December 2024 21,650,835 -42,569 -11,204 2,972,735 1,322,153 627,917 — Cash flows: Receipts relating to financial debt (including Collateral Deposits) 5,078,504 — — — — — — (Payments) relating to financial debt (including Collateral Deposits) -4,715,193 -29,465 — — — — — Interest and similar costs of financial debt including hedge derivatives -827,160 — -86,594 — — — — Receipts/(payments) relating to loans from non- controlling interests — — — — — -11,066 — Interest and similar costs relating to loans from non- controlling interests — — — — — -10,411 — Receipts/(payments) relating to derivative financial instruments — — 143,878 — — — — Receipts/(payments) from institutional partnerships — — — 611,821 — — — Receipts/(payments) intermediation of electricity system flows financing — — — — — — 195,789 Lease (payments) — — — — -137,546 — — Perimeter variations 13,249 53 -1,004 — -80,857 -356 — Exchange differences -303,088 929 -3,518 -355,771 -91,441 -122 — Fair value changes 4,886 — -216,822 — — — — Group Financial debt and Derivative financial instruments (including Collateral Deposits) Institutional partnerships in North America (Note 37) Lease Liabilities (Note 39) Loans from non- controlling interests (Note 39) Intermed. of electricity system flows financing (Note 39)Thousand Euros Loans obtained (Note 34) Collateral Deposits (Note 34) Derivative financial instruments (Note 42)* Interests and accrued and deferred costs 888,856 — 81,937 10,629 — 10,364 — Unwinding — — — 97,095 49,640 — — ITC/PTC recognition — — — -421,000 — — — Change in benefits recognition — — — — — — — New lease contracts/ Increments in rent values — — — — 157,047 — — Reclassification to Liabilities held for sale — — — — — — — Balance as at 31 December 2025 21,790,889 -71,052 -93,327 2,915,509 1,218,996 616,326 195,789 Group Financial debt and Derivative financial instruments (including Collateral Deposits) Institutional partnerships in North America (Note 37) Lease Liabilities (Note 39) Loans from non- controlling interests (Note 39) Intermed. of electricity system flows financing (Note 39)Thousand Euros Loans obtained (Note 34) Collateral Deposits (Note 34) Derivative financial instruments (Note 42)* * The Group considers as financing activities all derivative financial instruments excluding derivatives related with commodities. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 444
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Balance as at 31 December 2023 11,762,517 36,642 148,308 10,890 Cash flows: Receipts relating to financial debt (including Collateral Deposits) 1,890,000 — — — (Payments) relating to financial debt (including Collateral Deposits) -2,168,867 — — — Interest and similar costs of financial debt including hedge derivatives -311,285 -6,053 — — Receipts/(payments) relating to loans from related parties 114,826 — — 874,110 Interest and similar costs of loans from related parties including hedge derivatives — — — -103,443 Receipts/(payments) relating to derivative financial instruments — 4,015 — — Lease (payments) — — -13,185 — Fair value changes -385 -759 — — Unwinding — — 5,761 — Interests and accrued and deferred costs 307,339 2,748 — 108,648 New lease contracts/Increments in rent values — — 10,182 — Balance as at 31 December 2024 11,594,145 36,593 151,066 890,205 Company Financial debt and Derivative financial instruments Lease Liabilities (Note 39) Group companies (Note 39)Thousand Euros Loans obtained (Note 34) Derivative financial instruments (Note 42)* Balance as at 31 December 2024 11,594,145 36,593 151,066 890,205 Cash flows: Receipts relating to financial debt (including Collateral Deposits) 2,250,000 — — — (Payments) relating to financial debt (including Collateral Deposits) -2,090,467 — — — Interest and similar costs of financial debt including hedge derivatives -350,505 -3,221 — — Receipts/(payments) relating to loans from related parties 652,999 — — -4,420 Interest and similar costs of loans from related parties including hedge derivatives — — — -86,474 Receipts/(payments) relating to derivative financial instruments — 3,650 — — Lease (payments) — — -12,289 — Fair value changes 685 -11,954 — — Unwinding — — 5,760 — Interests and accrued and deferred costs 342,713 1,686 — 89,279 New lease contracts/Increments in rent values — — 54,563 — Balance as at 31 December 2025 12,399,570 26,754 199,100 888,590 Company Financial debt and Derivative financial instruments Lease Liabilities (Note 39) Group companies (Note 39)Thousand Euros Loans obtained (Note 34) Derivative financial instruments (Note 42)* * The Group considers as financing activities all derivative financial instruments excluding derivatives related with commodities. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 445
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52. Explanation Added for Translation These financial statements are a free translation of the financial statements originally issued in Portuguese in accordance with International Financial Reporting Standards as adopted by the European Union. In the event of discrepancies, the Portuguese language version prevails. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 446
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Annex I. Companies in the Consolidation Perimeter The subsidiary companies where the Group exercises control as at 31 December 2025 are as follows: Holdings and other activities Iberia and Rest of Europe Portugal EDP, S.A. Lisbon 4,184,021,624 EUR 24,847,283 14,997,119 9,850,164 326,830 837,909 EDPR Cross Solutions, S.A. Oporto 50,000 EUR 2,339 1,051 1,288 2,624 1,059 71% Sãvida - Medicina Apoiada, S.A Lisbon 450,000 EUR 17,569 10,217 7,352 22,635 2,062 100% 100% EDP Global Solutions - Gestão Integrada de Serviços S.A. Lisbon 15,000,000 EUR 533,569 483,351 50,218 446,145 28,774 100% 100% EDP IS – Investimentos e Serviços, Sociedade Unipessoal, Lda Lisbon 140,309,500 EUR 712,734 40,032 672,702 4 262,728 100% EDP Estudos e Consultoria, S.A Lisbon 50,000 EUR 3,057 97 2,960 93 71 100% 100% SU Eletricidade, S.A. Lisbon 10,110,110 EUR 577,691 537,270 40,421 2,182,218 12,510 100% 100% Gás SU, S.A. Oporto 1,050,996 EUR 16,373 4,211 12,162 31,167 1,533 100% 100% CNET - Centre for new energy technologies, S.A. Sacavém 300,000 EUR 5,627 5,171 456 571 44 60% LABELEC - Estudos, Desenvolvimento e Actividades Laboratoriais, S.A. Sacavém 2,200,000 EUR 43,132 32,105 11,027 23,747 4,622 100% 100% EDP Internacional, S.A. Lisbon 12,500,000 EUR 23,284 43 23,241 — -436 100% 100% EDP Ventures II, SIC de capital de risco fechada, S.A. Lisbon 46,050,000 EUR 85,611 216 85,395 17 2,853 100% EDP Inovação, S.A. Lisbon 36,446,960 EUR 78,767 3,235 75,532 5,734 34,903 100% 100% EDP Ventures - Sociedade de capital de risco, S.A. Lisbon 125,000 EUR 1,149 322 827 60 -130 100% Fundo EDP CleanTech FCR Lisbon 6,693,311 EUR 7,075 168 6,907 — 2,380 60% VC Expansão, S.A. Lisbon 45,750,000 EUR 114,418 69,615 44,803 3 -947 100% 100% Spain EDP Iberia, S.L. Bilbao 130,260,000 EUR 1,259,096 165,771 1,093,325 — 3,032 100% EDP Renováveis, S.A. Oviedo 5,255,165,580 EUR 13,489,433 5,627,302 7,862,131 69,283 -194,390 71% 71% EDP Renováveis Servicios Financieros, S.A. Oviedo 84,691,368 EUR 9,106,003 8,879,702 226,301 45,945 25,411 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 447
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EDP Servicios Financieros España, S.A.U. Oviedo 10,300,058 EUR 9,745,650 9,208,110 537,540 376 5,784 100% 100% EDP Ventures España, S.A. Oviedo 60,000 EUR 540 269 271 — 241 100% EDP International Investments and Services, S.L. Oviedo 43,851,442 EUR 2,883,759 55,451 2,828,308 9 570,789 100% 100% H2 Soto, S.A.U. Oviedo 1,000,000 EUR 846 269 577 3 -327 100% H2 Aboño, S.A.U. Oviedo 1,000,000 EUR 975 424 551 9 -290 100% H2 Los Barrios, S.A.U. Oviedo 1,000,000 EUR 788 515 273 10 -316 100% Other Countries EDP Group Brussels Representation Brussels 1,000,000 EUR 713 34 679 — -353 100% 100% EDP FINANCE BV Amsterdam 2,000,000 EUR 8,201,571 8,045,127 156,444 — 17,121 100% 100% Energia RE - Sociedade Cativa de Resseguro Luxembourg 3,000,000 EUR 216,243 127,078 89,165 5 7,339 100% 100% South America Brazil EDP Energias do Brasil, S.A. São Paulo 11,448,065,259 BRL 2,182,995 463,952 1,719,043 384 289,271 100% EDP Ventures Brasil S.A. São Paulo 59,256,475 BRL 7,591 1,118 6,473 — 640 100% Asia-Pacific Singapore Sunseap Group Pte. Ltd. Singapore 800,478,484 SGD 567,254 74,136 493,118 25,425 -6,538 71% Sunseap International Pte. Ltd. Singapore 249,811,111 SGD 154,201 632 153,569 — 950 71% Sunseap Delta Holdings Pte. Ltd. Singapore 7,661,894 SGD 4,913 65 4,848 — -49 71% Other Countries Sunseap Commercial & Industrial Assets (Vietnam) Co., Ltd. Ho Chi Minh City 123,517,702,000 VND 261,713 313,004 -51,291 5,571 -26,426 71% EDP - Ásia Soluções Energéticas Limitada Macau 1,500,000 MOP 2 13 -11 — -1,306 100% 5% North-America Mexico EDPR México, S.L.U. Asturias 219,087,983 EUR 347,392 119,021 228,371 — 9,300 71% EDPR International Investments, B.V. Amsterdam 20,000 EUR 139,743 120,028 19,715 — 7,909 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 448
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Renewables, Clients and Energy Management Wind and Solar Activities Iberia and Rest of Europe Portugal SPEE - Sociedade Produção de Energia Eólica, S.A. Oporto 350,000 EUR 1,470 1,479 -9 6 -203 71% Eólica da Coutada II, S.A. Oporto 14,160,000 EUR 21,312 3,005 18,307 2,342 521 71% Fotovoltaica Flutuante do Grande Lago, S.A. Oporto 50,000 EUR 5,321 4,077 1,244 2 92 71% EDP Renováveis Portugal, S.A. Oporto 7,500,000 EUR 412,572 188,039 224,533 111,648 38,578 36% Eólica da Serra das Alturas, S.A. Boticas 50,000 EUR 11,530 1,527 10,003 2,329 945 18% Eólica de Montenegrelo, S.A. Vila Pouca de Aguiar 50,000 EUR 16,719 2,656 14,063 4,113 1,520 18% Eólica de Alagoa, S.A. Arcos de Valdevez 50,000 EUR 5,805 1,144 4,661 2,551 1,021 22% Malhadizes - Energia Eólica, S.A. Oporto 50,000 EUR 37,713 20,926 16,787 4,241 627 36% EDPR PT - Promoção e Operação, S.A. Oporto 57,500 EUR 704,114 348,444 355,670 22,896 -10,371 71% Fotovoltaica da Cerca, S.A. Oporto 48,760,000 EUR 153,002 73,151 79,851 13,256 10,385 71% Eólica dos Altos de Salgueiros-Guilhado, S.A. Vila Pouca de Aguiar 600,000 EUR 9,529 1,467 8,062 2,018 557 71% Eólica da Coutada, S.A. Soutelo de Aguiar 19,290,000 EUR 136,047 18,314 117,733 25,312 8,667 71% Eólica do Espigão, S.A. Miranda do Corvo 50,000 EUR 26,838 3,153 23,685 6,289 2,642 71% Eólica da Terra do Mato, S.A. Oporto 8,840,000 EUR 36,034 5,717 30,317 7,111 2,063 71% Eólica do Alto da Lagoa, S.A. Oporto 50,000 EUR 21,824 2,997 18,827 4,614 1,809 71% Eólica do Alto da Teixosa, S.A. Alhões 690,000 EUR 22,256 2,703 19,553 5,096 1,966 71% Eólica do Alto do Mourisco, S.A. Cerdedo 1,240,000 EUR 20,394 3,487 16,907 4,232 1,560 71% Eólica das Serras das Beiras, S.A. Piódão - Arganil 50,000 EUR 73,775 10,137 63,638 19,105 7,105 71% EDPR PT - Parques Eólicos, S.A. Oporto 50,000 EUR 60,444 1,767 58,677 -3 7,400 71% S.E.E. - Sul Energía Eólica, S.A. Oporto 150,000 EUR 4,026 1,253 2,773 2,101 665 71% Parque Eólico do Barlavento, S.A. Oporto 60,000 EUR 35,281 5,740 29,541 11,275 4,259 64% ACE Portugal, S.à r.l. Lisbon 21,108,990 EUR 194,939 127 194,812 — 1 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 449
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Spain EDP Renovables España, S.L.U. Oviedo 46,128,100 EUR 1,988,376 316,911 1,671,465 161,162 120,933 71% EDPR Terral S.L.U. Madrid 3,000 EUR 210 334 -124 15 -206 71% Parque Eólico de Abrazadilla, S.L.U. Madrid 33,007,000 EUR 194,620 25,338 169,282 25,879 5,616 71% Canerde, S.L. Madrid 19,000 EUR 331 320 11 — -5 57% Desarrollos Renovables de la Frontera, S.L.U. Cádiz 6,000 EUR 60 194 -134 9 -140 71% EDPR Yield, S.A.U. Asturias 4,405,403 EUR 187,096 5,461 181,635 8 17,686 71% Parque Eólico Santa Quiteria, S.L. Zaragoza 63,006 EUR 14,400 5,561 8,839 3,414 -16 60% Eólica Fontesilva, S.L.U. La Coruña 6,860,000 EUR 39,783 4,538 35,245 6,949 2,018 71% Desarrollos Eólicos de Teruel, S.L. Teruel 18,890,100 EUR 56,509 28,248 28,261 9,320 3,484 36% Parque Eólico Altos del Voltoya, S.A. Madrid 6,434,349 EUR 42,958 8,446 34,512 8,193 1,421 66% Eólica La Brújula, S.A.U. Madrid 3,294,000 EUR 48,252 7,380 40,872 6,842 -54 71% Eólica Arlanzón, S.A. Madrid 4,508,980 EUR 12,346 3,582 8,764 3,849 419 61% Eólica Campollano, S.A. Madrid 6,559,994 EUR 45,293 10,228 35,065 12,750 2,842 53% Tébar Eólica, S.A.U. Madrid 4,720,400 EUR 50,827 21,095 29,732 5,903 499 71% Renovables Castilla La Mancha, S.A. Madrid 60,102 EUR 17,619 6,518 11,101 4,142 215 64% Parque Eólico La Sotonera, S.L. Zaragoza 2,000,000 EUR 9,554 2,155 7,399 2,574 588 50% Compañía Eólica Aragonesa, S.A.U. Zaragoza 6,701,165 EUR 183,142 20,224 162,918 18,254 4,051 71% Parque Eólico Los Cantales, S.L.U. Zaragoza 1,963,050 EUR 16,216 2,856 13,360 2,441 94 71% Iberia Aprovechamientos Eólicos, S.A. Zaragoza 1,918,728 EUR 15,533 3,493 12,040 2,759 752 67% Acampo Arias, S.L. Zaragoza 3,314,300 EUR 37,097 16,712 20,385 7,633 2,552 68% Aplicaciones Industriales de Energías Limpias, S.L. Zaragoza 131,288 EUR 1,779 1 1,778 — 411 44% San Juan de Bargas Eólica, S.L.U. Zaragoza 2,000,000 EUR 10,730 5,032 5,698 3,603 -319 71% Global Pracima, S.L.U. Asturias 3,600 EUR 5,355 218 5,137 8 -120 71% Desarrollos Renovables de Allande, S.L.U. Asturias 6,000 EUR 485 444 41 8 -1,098 71% IAM Caecius, S.L.U. Madrid 6,000 EUR 24 8 16 — -6 36% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 450
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Desarrollos Renovables de Teruel, S.L. Teruel 3,000 EUR 289 13 276 — -4 36% Desarrollos Renovables de Alfajarin, S.L.U. Zaragoza 6,000 EUR 52 164 -112 8 -119 71% Promotores Villarrubia Elevación, S.L. Madrid 3,000 EUR 3,563 2,771 792 — -26 48% Jul Solar, S.L.U. Asturias 3,000 EUR 1,165 712 453 8 -127 71% Agos Fotovoltaicas, S.L.U. Asturias 3,000 EUR 1,168 731 437 8 -126 71% Corona Fotovoltaicas, S.L.U. Asturias 3,000 EUR 5,383 2,000 3,383 8 -157 71% ICE Tudela, S.L.U. Madrid 3,000 EUR 51 164 -113 8 -118 71% Soner Goya, S.L.U. Madrid 353,000 EUR 2,043 198 1,845 7 -99 71% Libienergy Green, S.L. Albacete 3,000 EUR 1,584 352 1,232 8 -102 71% Cañonera Solar, S.L. Madrid 3,000 EUR 828 202 626 12 -107 71% Montealegre Solar, S.L. Madrid 3,000 EUR 824 195 629 12 -107 71% Yugo Solar, S.L. Madrid 3,000 EUR 811 195 616 12 -107 71% Energía Amanecer, S.L.U. Madrid 3,000 EUR 2,278 1,649 629 7 -84 71% Renovables Alasia, S.L. Madrid 3,000 EUR 36 129 -93 — -98 71% Energia Polimero S.L. Madrid 3,000 EUR 5,025 1,682 3,343 8 -70 71% IGNIS DATA TAU, SL Madrid 3,000 EUR 11 7 4 — -5 64% Desarrollos Renovables Ceres S.L. Madrid 3,000 EUR 16 50 -34 — -39 71% Desarrollos Renovables Haumea, S.L. Madrid 3,000 EUR 16 50 -34 — -39 71% Promotores Villarrubia Morata 200KV, S.L. Madrid 3,000 EUR 225 2 223 — -13 52% EDP Renewables Europe, S.L.U. Oviedo 249,498,800 EUR 4,103,284 1,632,828 2,470,456 65,366 174,038 71% Italy EDP Renewables Italia, S.R.L. Milan 34,439,343 EUR 156,906 72,960 83,946 16,785 4,749 71% EDP Renewables Italia Holding, S.R.L. Milan 347,000 EUR 590,174 119,099 471,075 5,078 52,081 71% Re Plus, S.R.L. Milan 100,000 EUR 605 497 108 2 -47 71% EDPR Villa Galla, S.R.L. Milan 9,000,000 EUR 104,679 14,150 90,529 20,039 9,215 71% Tivano, S.R.L. Milan 100,000 EUR 18,184 13,637 4,547 3,047 1,254 53% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 451
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AW 2, S.r.l. Milan 100,000 EUR 19,640 13,662 5,978 4,017 1,729 53% T Power, S.p.A. Cesena 1,000,000 EUR 1,364 49 1,315 2 -22 71% Custolito, S.R.L. Milan 10,000 EUR 390 378 12 2 -46 71% EDPR Sicilia PV, S.R.L. Milan 10,000 EUR 93,149 87,979 5,170 398 -578 71% Energia Emissioni Zero 4, S.r.l. Napoli 10,000 EUR 29,711 23,076 6,635 6,447 2,928 43% EDPR Sicilia Wind, S.r.l. Milan 10,000 EUR 69,907 70,012 -105 6,481 500 71% Winderg Valleverde, S.r.l. Milan 180,000 EUR 84,175 73,797 10,378 7,073 2,842 43% EDPR Centro Italia PV, S.r.l. Milan 10,000 EUR 1,854 1,614 240 10 26 71% EDPR Sicilia Uno, S.r.l. Milan 10,000 EUR 963 940 23 2 -56 71% EDPR Sicilia Due, S.r.l. Milan 10,000 EUR 159 121 38 3 -55 71% EDPR Sardegna, S.r.l. Milan 10,000 EUR 1,072 1,048 24 3 -33 71% EDPR Sud Italia, S.r.l. Milan 10,000 EUR 2,666 2,805 -139 2 -166 71% EDPR Sicilia Tre, S.r.l. Milan 10,000 EUR 440 403 37 2 -51 71% EDPR Puglia Due, S.r.l. Milan 10,000 EUR 225 321 -96 2 -173 71% EDPR Basilicata, S.r.l. Milan 10,000 EUR 613 602 11 2 -52 71% EDPR Marascione PV, S.r.l. Milan 10,000 EUR 2,184 2,114 70 2 -53 71% EDPR BESS Uno, S.r.l. Milan 10,000 EUR 381 386 -5 2 -56 71% EDPR BESS Due, S.r.l. Milan 10,000 EUR 379 385 -6 2 -57 71% EDPR BESS Tre, S.r.l. Milan 10,000 EUR 72 70 2 2 -50 71% EDPR BESS Quattro, S.r.l. Milan 10,000 EUR 244 232 12 2 -41 71% EDPR BESS Cinque, S.r.l. Milan 10,000 EUR 163 153 10 2 -42 71% EDPR Sicilia Quattro, S.r.l. Milan 10,000 EUR 590 544 46 2 -46 71% Wind Energy Castelluccio, S.r.l. Milan 10,000 EUR 106,108 103,781 2,327 7,950 2,313 71% Wind Energy Monte Cavallo, S.r.l. Pescara 10,000 EUR 399 401 -2 — -13 36% Winderg San Martino S.r.l. Milan 160,000 EUR 1,196 506 690 — -3 43% EDPR Le Murate PV, S.r.l. Milan 10,000 EUR 1,037 939 98 2 -25 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 452
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EDPR Riardo PV, S.r.l. Milan 10,000 EUR 65 41 24 4 -29 71% EDPR PV 1, S.r.l. Milan 10,000 EUR 25 72 -47 3 14 71% Solar Banzi, S.r.l. Milan 10,000 EUR 524 596 -72 13 -82 71% Wind Energy Levante S.r.l Milan 10,000 EUR 619 609 10 — — 36% Wind Energy Maestrale S.r.l. Milan 10,000 EUR 662 652 10 — — 36% Monte di Eboli Milan 10,000 EUR 10,806 1,775 9,031 26 5 71% France Saussignac Solaire, S.A.S. Paris 10,000 EUR 1,978 149 1,829 3 -58 71% Vanosc Energie, S.A.S. Paris 1,000 EUR 1,199 1,610 -411 3 -80 71% Transition Euroise Roman II, S.A.S. Paris 603,000 EUR 11,316 10,204 1,112 982 17 61% EDPR Energies France, S.A.S. Paris 215,000 EUR 21,509 22,556 -1,047 2,063 -199 71% EDPR France Holding, S.A.S. Paris 89,900,000 EUR 422,308 146,504 275,804 37,752 53,894 71% Parc Eolien de Dionay, S.A.S. Paris 430,000 EUR 3,021 1,380 1,641 3 -181 71% Monts de la Madeleine Energie, S.A.S. Paris 176,000 EUR 1,862 515 1,347 3 -89 71% Monts du Forez Energie, S.A.S. Paris 200,000 EUR 1,905 2,197 -292 3 -76 71% STOCK8 Paris 30 EUR 2 10 -8 — -8 71% Oxavi 1, S.A.S. Paris 6,000 EUR 1,757 216 1,541 3 -83 71% Oxavi 2, S.A.S. Paris 6,000 EUR 2,459 700 1,759 3 10 71% Kronos Solar France, S.A.S. Boulogne-Billancourt 20,000 EUR 3,970 3,469 501 2,469 665 71% Fransol 11, S.A.S. Boulogne-Billancourt 1 EUR 180 320 -140 — -24 61% Fransol 12, S.A.S. Boulogne-Billancourt 1 EUR 63 202 -139 — -22 61% Fransol 13, S.A.S. Boulogne-Billancourt 1 EUR 102 158 -56 — -13 61% Fransol 14, S.A.S. Paris 1,013,701 EUR 18,032 17,292 740 — -169 71% Fransol 15, S.A.S. Boulogne-Billancourt 1 EUR 151 287 -136 — -22 61% Fransol 16, S.A.S. Boulogne-Billancourt 1 EUR 366 472 -106 — -32 61% Fransol 18, S.A.S. Boulogne-Billancourt 880 EUR 1,215 1,758 -543 — -583 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 453
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Fransol 19, S.A.S. Boulogne-Billancourt 1 EUR 20 124 -104 — -20 61% Fransol 20, S.A.S. Boulogne-Billancourt 1 EUR 38 248 -210 — -39 61% Fransol 21, S.A.S. Boulogne-Billancourt 11,805 EUR 5,869 5,906 -37 213 -54 71% Fransol 24, S.A.S. Boulogne-Billancourt 920 EUR 1,349 1,374 -25 — -60 71% Fransol 26, S.A.S. Boulogne-Billancourt 1 EUR 52 316 -264 — -169 61% Fransol 27, S.A.S. Boulogne-Billancourt 13,969 EUR 4,848 4,818 30 285 7 71% Fransol 28, S.A.S. Boulogne-Billancourt 1,040 EUR 350 1,183 -833 — -855 71% Fransol 29, S.A.S. Boulogne-Billancourt 1 EUR 22 136 -114 — -21 61% Fransol 30, S.A.S. Boulogne-Billancourt 1 EUR 49 309 -260 — -122 61% Fransol 32, S.A.S. Boulogne-Billancourt 1 EUR 73 128 -55 — -13 61% Fransol 34, S.A.S. Boulogne-Billancourt 1 EUR 36 121 -85 — -13 61% Fransol 35, S.A.S. Boulogne-Billancourt 1 EUR 107 151 -44 — -13 61% Fransol 36, S.A.S. Boulogne-Billancourt 1 EUR 81 181 -100 — -68 61% Fransol 37, S.A.S. Boulogne-Billancourt 1 EUR 85 165 -80 — -29 61% Fransol 39, S.A.S. Boulogne-Billancourt 1 EUR 145 225 -80 — -22 61% Fransol 40, S.A.S. Boulogne-Billancourt 1 EUR 36 134 -98 — -13 61% Fransol 44, S.A.S. Boulogne-Billancourt 1 EUR 114 218 -104 — -26 61% Fransol 45, S.A.S. Boulogne-Billancourt 1 EUR 26 122 -96 — -15 61% Fransol 46, S.A.S. Boulogne-Billancourt 1 EUR 126 435 -309 — -30 61% Fransol 47, S.A.S. Boulogne-Billancourt 1 EUR 82 235 -153 — -24 61% Fransol 48, S.A.S. Boulogne-Billancourt 1 EUR 22 140 -118 — -47 61% Fransol 49, S.A.S. Boulogne-Billancourt 1 EUR 21 121 -100 — -50 61% Fransol 05, S.A.S. Paris 1,000 EUR 1,375 1,487 -112 — 5 71% Fransol 06, S.A.S. Boulogne-Billancourt 1 EUR 164 227 -63 — -14 61% Kronos 18 Fain, S.A.S. Paris 160,307 EUR 7,583 7,693 -110 86 153 71% Fransol 08, S.A.S. Boulogne-Billancourt 1 EUR 27 190 -163 — -46 61% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 454
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Fransol 09, S.A.S. Boulogne-Billancourt 1 EUR 296 361 -65 — -18 61% Fransol 10, S.A.S. Boulogne-Billancourt 1 EUR 236 309 -73 — -17 61% Kronosol 11, S.A.R.L. Saint-Louis 50,000 EUR 91 100 -9 7 -5 61% Kronosol 12, S.A.R.L. Paris 59,656 EUR 3,159 3,190 -31 170 -41 71% Kronosol 13, S.A.R.L. Paris 199,800 EUR 5,646 5,872 -226 265 -182 43% Kronosol 14, S.A.R.L. Paris 898,216 EUR 26,741 19,699 7,042 563 -170 71% Kronosol 15, S.A.R.L. Paris 236,721 EUR 5,148 4,992 156 187 -19 71% Fransol 52, S.A.S. Boulogne-Billancourt 1 EUR 27 121 -94 — -15 61% Fransol 53, S.A.S. Boulogne-Billancourt 1 EUR 72 164 -92 — -19 61% Fransol 54, S.A.S. Boulogne-Billancourt 1 EUR 35 140 -105 — -22 61% Fransol 55, S.A.S. Boulogne-Billancourt 1 EUR 14 89 -75 — -40 61% Fransol 56, S.A.S. Boulogne-Billancourt 1 EUR 50 120 -70 — -13 61% Fransol 59, S.A.S. Boulogne-Billancourt 1 EUR 46 121 -75 — -14 61% Fransol 61, S.A.S. Boulogne-Billancourt 1 EUR 37 112 -75 — -13 61% Fransol 63, S.A.S. Boulogne-Billancourt 1 EUR 86 228 -142 — -36 61% Fransol 65, S.A.S. Boulogne-Billancourt 1 EUR 27 137 -110 — -65 61% Fransol 66, S.A.S. Boulogne-Billancourt 1 EUR 78 172 -94 — -23 61% Fransol 67, S.A.S. Boulogne-Billancourt 1 EUR 61 170 -109 — -19 61% Fransol 69, S.A.S. Boulogne-Billancourt 1 EUR 60 144 -84 — -16 61% Kronos Developpement France S.A.S. Boulogne-Billancourt 1 EUR 514 2,365 -1,851 — -77 61% United Kingdom Altnabreac Wind Farm Limited Edinburgh 2,272,165 GBP 1,767 1,939 -172 2 305 71% Ben Sca Wind Farm Limited Edinburgh 1,950,346 GBP 4,385 4,610 -225 3 -1,025 71% Drummarnock Wind Farm Limited Edinburgh 1,350,663 GBP 3,554 3,460 94 6 240 71% Balmeanach Wind Farm Limited Edinburgh 1,211,923 GBP 3,226 3,940 -714 2 -860 71% EDP Renewables UK Limited Edinburgh 9,847,230 GBP 100,949 98,443 2,506 1,329 -4,285 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 455
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Muirake Wind Farm Ltd Edinburgh 100 GBP 5,247 1,224 4,023 1,218 566 56% Lurg Hill Wind Farm Ltd Edinburgh 699,140 GBP 4,386 5,328 -942 2 -127 71% Harrington Franklin Limited Leeds 530,911 GBP 42,964 44,522 -1,558 1 -1,060 71% Balnacraig Battery Storage Limited Edinburgh 1 GBP 23,383 29,328 -5,945 6 -468 71% Four Crosses Solar Limited London 100 GBP 318 324 -6 — -6 71% Hunmanby Solar Limited London 100 GBP — — — — — 71% Cairds Hill Wind Farm Limited Edinburgh 100 GBP — — — — — 71% Kronos Solar Projects Limited Newmarket 1 GBP 698 1,085 -387 62 -368 71% KS SPV 46 Limited Newmarket 1 GBP 194 673 -479 — -40 71% KS SPV 65 Limited Newmarket 1 GBP 24 172 -148 — -18 71% KS SPV 69 Limited Newmarket 1 GBP — 93 -93 — — 71% KS SPV 70 Limited Newmarket 1 GBP 52 342 -290 — -18 71% KS SPV 71 Limited Newmarket 1 GBP 43 290 -247 — -164 71% KS SPV 72 Limited Newmarket 1 GBP 19 124 -105 — -13 71% KS SPV 73 Limited Newmarket 1 GBP 19 132 -113 — -18 71% KS SPV 74 Limited Newmarket 1 GBP — 56 -56 — — 71% KS SPV 75 Limited Newmarket 1 GBP 67 413 -346 7 -14 71% KS SPV 76 Limited Newmarket 1 GBP — 42 -42 — — 71% KS SPV 77 Limited Newmarket 1 GBP 241 401 -160 — 13 71% KS SPV 78 Limited Newmarket 1 GBP 13 86 -73 — -12 71% KS SPV 79 Limited Newmarket 1 GBP 39 239 -200 — 25 71% KS SPV 80 Limited Newmarket 1 GBP — 66 -66 — — 71% KS SPV 62 Limited Newmarket 1 GBP 23 396 -373 — -19 71% KS SPV 64 Limited Newmarket 1 GBP 17 122 -105 — -16 71% KS SPV 67 Limited Newmarket 1 GBP 23 151 -128 — -8 71% KS SPV 68 Limited Newmarket 1 GBP — 71 -71 — -14 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 456
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KS SPV 81 Limited Newmarket 1 GBP — 25 -25 — — 71% KS SPV 82 Limited Newmarket 1 GBP 21 135 -114 — 39 71% KS SPV 83 Limited Newmarket 1 GBP 36 209 -173 — -46 71% KS SPV 84 Limited Newmarket 1 GBP — 35 -35 — — 71% KS SPV 85 Limited Newmarket 1 GBP — 25 -25 — — 71% KS SPV 00 Limited Newmarket 1 GBP 335 822 -487 — -28 71% Black Dubb Wind Farm Limited London 200 GBP 187 187 — — — 71% Poland R.Wind, Sp. z o.o. Warsaw 6,000 PLN 1,585 2,225 -640 2 -143 71% EDP Renewables Polska, Sp. z o.o. Warsaw 539,689,449 PLN 508,186 156,228 351,958 11,963 10,860 71% Relax Wind Park III, Sp. z o.o. Warsaw 59,603,000 PLN 248,293 192,904 55,389 30,405 -40 71% Relax Wind Park I, Sp. z o.o. Warsaw 46,540,000 PLN 118,323 32,473 85,850 21,631 8,524 71% Elektrownia Wiatrowa Kresy I, Sp. z o.o. Warsaw 70,210 PLN 123,880 20,131 103,749 23,646 13,068 71% Masovia Wind Farm I, Sp. z o.o. Warsaw 1,258,000 PLN 230 747 -517 2 -158 71% Farma Wiatrowa Starozreby, Sp. z o.o. Warsaw 466,000 PLN 302 191 111 2 -72 71% Rowy-Karpacka Mala Energetyka, Sp. z o.o. Warsaw 50,000 PLN 95 726 -631 — -56 71% Farma Fotowoltaiczna Iłża, Sp. z o.o. Warsaw 129,500 PLN 432 149 283 2 -128 71% Molen Wind II, Sp. z o.o. Warsaw 14,600 PLN 68,223 19,409 48,814 13,354 5,587 71% Korsze Wind Farm, Sp. z o.o. Warsaw 35,754,000 PLN 84,568 21,073 63,495 19,912 11,282 71% Radziejów Wind Farm, Sp. z o.o. Warsaw 27,605,000 PLN 37,613 28,079 9,534 4,964 1,094 71% Miramit Investments, Sp. z o.o. Warsaw 55,000 PLN 498 592 -94 2 -76 71% EDP Renewables Polska HoldCo, S.A. Warsaw 100,100 PLN 315,133 911 314,222 — 20,651 71% Rampton, Sp. z o.o. Warsaw 11,005,000 PLN 3,460 747 2,713 979 166 71% EDP Renewables Polska Solar, Sp. Z o.o. Warsaw 23,880,000 PLN 42,459 36,829 5,630 2,801 -1,465 71% Gudziki Wind Farm, Sp. z o.o. Warsaw 35,715,400 PLN 55,579 33,843 21,736 8,603 2,156 71% WF Energy III, Sp. z o.o. Warsaw 5,000 PLN 1,328 1,679 -351 2 -91 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 457
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Farma Fotowoltaiczna Koden, Sp. z o.o. Warsaw 5,000 PLN 2,751 3,046 -295 3 -120 71% Farma Fotowoltaiczna Pakosław, Sp. z o.o. Warsaw 473,500 PLN 18,231 17,389 842 882 206 71% Neo Solar Przykona II, Sp. z o.o. Warsaw 5,000 PLN 2,298 3,175 -877 2 -135 71% Elektrownia Kamienica, Sp. z o.o. Warsaw 5,000 PLN 10,699 11,846 -1,147 3 -190 71% Budzyn, Sp. z o.o. Warsaw 5,000 PLN 107 574 -467 2 -79 71% Wind Farm Debrzno, Sp. z o.o. Warsaw 5,000 PLN 97 515 -418 2 -121 71% Wind Farm Gniewkowo, Sp. z o.o. Warsaw 5,000 PLN 122 540 -418 2 -150 71% EDP Renewables Polska Wind, Sp. z o.o. Warsaw 5,000 PLN 421 1,663 -1,242 203 -579 71% EDPR Polska Solar 2, Sp. z o.o. Warsaw 5,000 PLN 68 276 -208 2 -77 71% EDP Renewables Polska Storage, Sp. z o.o. Warsaw 5,000 PLN 60 259 -199 2 -83 71% Ene-Wia, Sp. z o.o. Warsaw 10,000 PLN 6,320 6,662 -342 2 -127 71% Rampton Trading, Sp. z o.o. Warsaw 10,005,000 PLN 2,231 74 2,157 3 -67 71% Ekoenergia Solar 3, Sp. z o.o. Warsaw 6,000 PLN 21,278 20,928 350 26 -726 71% CSH III Renewables, Sp. z o.o. Warsaw 9,105,000 PLN 3,647 2,331 1,316 3 -161 71% Farma Fotowoltaiczna Poturzyn, Sp. z o.o. Warsaw 191,000 PLN 914 363 551 2 -43 71% Farma Fotowoltaiczna Warta, Sp. z o.o. Warsaw 5,000 PLN 409 700 -291 2 -78 71% Farma Fotowoltaiczna Wielkopolska, Sp. z o.o. Warsaw 5,000 PLN 980 1,434 -454 2 -116 71% Farma Fotowoltaiczna Radziejów, Sp. z o.o. Warsaw 5,000 PLN 433 759 -326 2 -74 71% Farma Fotowoltaiczna Ujazd, Sp. z o.o. Warsaw 5,000 PLN 739 1,080 -341 2 -45 71% Farma Fotowoltaiczna Budzyn, Sp. z o.o. Warsaw 24,965,000 PLN 39,469 35,629 3,840 611 -2,927 71% Farma Fotowoltaiczna Dobrzyca, Sp. z o.o. Warsaw 5,000 PLN 1,049 1,469 -420 2 -68 71% Farma Fotowoltaiczna Tomaszów, Sp. z o.o. Warsaw 138,000 PLN 468 68 400 2 -56 71% EDP Renewables Polska Wind 1, Sp. z o.o. Warsaw 5,000 PLN 47 204 -157 2 -41 71% EDP Renewables Polska Wind 2, Sp. z o.o. Warsaw 5,000 PLN 31 193 -162 3 -47 71% EDP Renewables Polska Wind 3, Sp. z o.o. Warsaw 5,000 PLN 30 204 -174 3 -58 71% EDP Renewables Polska Wind 4, Sp. z o.o. Warsaw 5,000 PLN 27 172 -145 3 -46 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 458
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EDP Renewables Polska Wind 5, Sp. z o.o. Warsaw 5,000 PLN 802 910 -108 3 -109 71% EDP Renewables Polska Wind 6, Sp. z o.o. Warsaw 5,000 PLN 5 14 -9 3 -10 71% EDP Renewables Polska Wind 7, Sp. z o.o. Warsaw 5,000 PLN 25 113 -88 3 -89 71% Wind Farm Paslek, Sp. z o.o. Warsaw 5,000 PLN 50 257 -207 3 -208 71% W A R D A R A K s p ó ł k a z o g r a n i c z o n ą o d p o w i e d z i a l n o ś c i ą Warsaw 6,000 PLN 238 375 -137 — -46 71% EDP Renewables Polska Wind 8, Sp. z o.o. Warsaw 5,000 PLN 2 1 1 — — 71% CSH Renewables Sp. z o.o. Warsaw 1,771,000 PLN 819 430 389 — -17 71% Romania EDPR România, S.R.L. Bucarest 1,491,259,750 RON 607,437 63,281 544,156 137,098 55,423 71% International Solar Energy, S.R.L. Bucarest 40,000,200 RON 40,605 37,667 2,938 1,214 -711 71% Solar Phoenix, S.R.L. Bucarest 10,079,300 RON 1,615 345 1,270 3 -107 71% Energopark, S.R.L. Bucarest 15,033,720 RON 2,242 43 2,199 — -174 71% Beta Wind, S.R.L. Bucarest 207,470 RON 6,181 2,047 4,134 2 -234 71% EDPR Wind Energy, S.R.L. Bucarest 200 RON 17 57 -40 5 -41 71% EDPR Solar Energy, S.R.L. Bucarest 200 RON 17 57 -40 5 -41 71% Greece Wind Park Aerorrachi M.A.E. Athens 496,020 EUR 3,635 6,853 -3,218 — 291 71% Wind Shape M.A.E. Athens 4,299,850 EUR 24,525 23,050 1,475 — -1,085 71% Kadmeios Anemos Energiaki, A.E. Athens 5,275,000 EUR 32,591 31,296 1,295 — -1,445 71% Voiotikos Anemos Energy, A.E. Athens 4,125,000 EUR 48,091 48,177 -86 — -2,152 71% EDPR Vounichora M.E.P.E. Athens 331,750 EUR 372 217 155 — -100 71% EDPR Anaskelo M.E.P.E. Athens 1,000 EUR 90 219 -129 — -87 71% EDPR Desfina M.E.P.E. Athens 1,000 EUR 123 247 -124 — -78 71% EDPR Louzes M.E.P.E. Athens 1,000 EUR 26 162 -136 — -91 71% EDPR Gkekas M.E.P.E. Athens 1,000 EUR 95 221 -126 — -81 71% Aeolos Evias Energiaki, M.A.E. Athens 6,325,000 EUR 4,669 58 4,611 — -396 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 459
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EDP RENEWABLES GREECE LLC Athens 6,624,361 EUR 9,024 2,670 6,354 2,362 1,154 71% EDP Renewables Hellas 2 M.A.E. Athens 1,396,715 EUR 1,698 263 1,435 — -233 71% The Netherlands Kronos Solar Projects NL, B.V. Arnhem 5,000 EUR 496 667 -171 311 -199 71% KS NL3, B.V. Arnhem — EUR 9,612 10,079 -467 844 -52 71% KS NL6, B.V. Arnhem — EUR 16 175 -159 — -18 71% KS NL8, B.V. Arnhem — EUR 8,632 9,197 -565 1,008 -113 71% KS NL10, B.V. Arnhem — EUR 190 253 -63 — -6 71% KS NL12, B.V. Arnhem — EUR 5 157 -152 — -19 71% KS NL13, B.V. Arnhem — EUR 9,907 10,523 -616 846 -219 71% KS NL14, B.V. Arnhem — EUR 8,144 8,730 -586 842 -68 71% KS NL16, B.V. Arnhem — EUR 5 153 -148 — -19 71% KS NL17, B.V. Arnhem — EUR 159 369 -210 — 22 71% KS NL23, B.V. Arnhem — EUR 1,284 1,624 -340 — -95 71% KS NL24, B.V. Arnhem — EUR 198 316 -118 — 5 71% KS NL25, B.V. Arnhem — EUR 37 158 -121 — -6 71% KS NL27, B.V. Arnhem — EUR 110 348 -238 — -20 71% KS NL28, B.V. Arnhem — EUR 10,131 10,882 -751 1,077 -182 71% KS NL32, B.V. Arnhem — EUR 2,459 2,898 -439 — -83 71% KS NL33, B.V. Arnhem — EUR — 151 -151 — -16 71% KS NL34, B.V. Arnhem — EUR 2,335 2,677 -342 — -70 71% KS NL35, B.V. Arnhem 1 EUR 44 149 -105 — 7 71% KS NL36, B.V. Arnhem 1 EUR 1 105 -104 — -15 71% KS NL38, B.V. Arnhem 1 EUR 129 191 -62 — -9 71% KS NL39, B.V. Arnhem 1 EUR — 83 -83 — -4 71% KS NL40, B.V. Arnhem 1 EUR 3 91 -88 — -16 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 460
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KS NL42, B.V. Arnhem 1 EUR 181 249 -68 — -8 71% KS NL43, B.V. Arnhem 1 EUR 117 224 -107 — 5 71% KS NL46, B.V. Arnhem 1 EUR 119 185 -66 — -5 71% KS NL48, B.V. Arnhem 1 EUR 25 99 -74 — 4 71% KS NL50, B.V. Arnhem 1 EUR 47 155 -108 — -14 71% Germany EDPR Windpark Flemsdorf GmbH Munich 25,000 EUR 25 41 -16 2 -40 71% EDPR Windpark Küsten-Waddeweitz GmbH Munich 25,000 EUR 27 791 -764 2 -789 71% EDPR Windpark Reinstorf GmbH Munich 25,000 EUR 3,077 3,093 -16 2 -41 71% EDPR Windpark Langenleuba-Oberhain GmbH Munich 25,000 EUR 27 47 -20 2 -45 71% EDPR Windpark Lützen-Weißenfels GmbH Munich 25,000 EUR 24 38 -14 — -39 71% EDPR Windpark Uelzen-Suderburg GmbH Munich 25,000 EUR 1,694 1,711 -17 2 -42 71% EDPR WP Siehdichum-Fuenfeichen GmbH Munich — EUR — 2 -2 — -2 71% WP Vorwald GmbH Munich 25,000 EUR 293 128 165 — — 53% EDPR Deutschland GmbH Munich 25,000 EUR 103,037 116,313 -13,276 1,565 -2,972 71% Kronos Projektgesellschaft mbH Munich 25,000 EUR 90,859 97,636 -6,777 — -4,094 71% Kronos Solar Projects GmbH Munich 27,669 EUR 50,646 9,798 40,848 403 -4,775 71% Kronos Solar Projects France UG Munich 1,000 EUR 9,452 4,577 4,875 — 2,770 61% KSD 11 UG Munich 1,000 EUR 592 818 -226 — -80 71% KSD 12 UG Munich 1,000 EUR 26,727 27,944 -1,217 — -1,054 71% KSD 13 UG Munich 1,000 EUR 1,034 1,226 -192 — -68 71% KSD 14 UG Munich 1,000 EUR 2,933 3,416 -483 — -225 71% KSD 15 UG Munich 1,000 EUR 18 193 -175 — -44 71% KSD 16 UG Munich 1,000 EUR 245 559 -314 — -60 71% KSD 17 GmbH Ketzin/Havel 25,000 EUR 82,762 66,780 15,982 374 -1,267 71% KSD 18 UG Munich 1,000 EUR 2,716 2,855 -139 — -52 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 461
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KSD 19 UG Munich 1,000 EUR 401 573 -172 — -68 71% KSD 21 UG Munich 1,000 EUR 260 549 -289 — -90 71% KSD 22 UG Munich 1,000 EUR 171 428 -257 — -96 71% KSD 23 UG Munich 1,000 EUR 1,244 1,607 -363 — -190 71% KSD 24 UG Munich 1,000 EUR 23 200 -177 — -6 71% KSD 25 UG Munich 1,000 EUR 605 807 -202 — -78 71% KSD 26 UG Munich 1,000 EUR 42 382 -340 — -50 71% KSD 27 UG Munich 1,000 EUR 587 1,115 -528 — -114 71% KSD 28 UG Munich 1,000 EUR 28 261 -233 — -46 71% KSD 29 UG Munich 1,000 EUR 113 366 -253 — -58 71% KSD 30 UG Munich 1,000 EUR 215 457 -242 — -63 71% KSD 31 UG Munich 1,000 EUR 252 553 -301 — -63 71% KSD 32 UG Munich 1,000 EUR 342 455 -113 — -28 71% KSD 33 UG Munich 1,000 EUR 19 121 -102 — -4 71% KSD 34 UG Munich 1,000 EUR 26 172 -146 — -5 71% KSD 35 UG Munich 1,000 EUR 293 501 -208 — -66 71% KSD 36 UG Munich 1,000 EUR 510 737 -227 — -66 71% KSD 37 UG Munich 1,000 EUR 36 326 -290 — -50 71% KSD 38 UG Munich 1,000 EUR 235 533 -298 — -86 71% KSD 39 UG Munich 1,000 EUR 463 686 -223 — -68 71% KSD 40 UG Munich 1,000 EUR 163 476 -313 — -94 71% KSD 41 UG Munich 1,000 EUR 1 36 -35 — -1 71% KSD 42 UG Munich 1,000 EUR 209 340 -131 — -66 71% KSD 43 UG Munich 1,000 EUR 67 162 -95 — -44 71% KSD 44 UG Munich 1,000 EUR 135 240 -105 — -55 71% KSD 45 UG Munich 1,000 EUR 166 315 -149 — -116 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 462
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KSD 46 UG Munich 1,000 EUR 281 437 -156 — -63 71% KSD 47 UG Munich 1,000 EUR 61 147 -86 — -47 71% KSD 48 UG Munich 1,000 EUR 71 163 -92 — -59 71% KSD 49 UG Munich 1,000 EUR 5 63 -58 — -17 71% KSD 50 UG Munich 1,000 EUR 88 223 -135 — -102 71% KSD 51 UG Munich 1,000 EUR 1 76 -75 — -42 71% KSD 52 UG Munich 1,000 EUR 262 402 -140 — -70 71% KSD 53 UG Munich 1,000 EUR 52 142 -90 — -43 71% KSD 54 UG Munich 1,000 EUR 1 87 -86 — -45 71% KSD 55 UG Munich 1,000 EUR 171 291 -120 — -67 71% KSD 56 UG Munich 1,000 EUR 1 37 -36 — -3 71% KSD 57 UG Munich 1,000 EUR 92 190 -98 — -65 71% KSD 58 UG Munich 1,000 EUR 203 323 -120 — -68 71% KSD 59 UG Munich 1,000 EUR 1 35 -34 — -1 71% KSD 60 UG Munich 1,000 EUR 138 248 -110 — -61 71% KSD 61 UG Munich 1,000 EUR 71 132 -61 — -61 71% KSD 62 UG Munich 1,000 EUR 1 3 -2 — -1 71% KSD 63 UG Munich 1,000 EUR 1 3 -2 — -1 71% KSD 64 UG Munich 1,000 EUR 94 176 -82 — -81 71% KSD 65 UG Munich 1,000 EUR 1 10 -9 — -8 71% KSD 66 UG Munich 1,000 EUR 1 49 -48 — -47 71% KSD 67 UG Munich 1,000 EUR 2 6 -4 — -4 71% KSD 68 UG Munich 1,000 EUR 1 3 -2 — -1 71% KSD 69 UG Munich 1,000 EUR 137 216 -79 — -78 71% KSD 70 UG Munich 1,000 EUR 66 124 -58 — -57 71% KSD 71 UG Munich 12,500 EUR 12 4 8 — -4 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 463
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KSD 72 UG Munich 12,500 EUR 13 4 9 — -4 71% KSD 73 UG Munich 12,500 EUR 13 2 11 — -2 71% KSD 74 UG Munich 12,500 EUR 13 3 10 — -3 71% KSD 75 UG Munich 12,500 EUR 13 2 11 — -2 71% KSD 76 UG Munich 12,500 EUR 12 2 10 — -2 71% KSD 77 UG Munich 12,500 EUR 13 2 11 — -2 71% KSD 78 UG Munich 12,500 EUR 13 2 11 — -2 71% KSD 79 UG Munich 12,500 EUR 13 2 11 — -2 71% KSD 80 UG Munich 12,500 EUR 77 122 -45 — -58 71% KSD 81 UG Munich 12,500 EUR 62 103 -41 — -54 71% KSD 82 UG Munich 12,500 EUR 13 2 11 — -2 71% KSD 83 UG Munich 12,500 EUR 78 123 -45 — -58 71% KSD 84 UG Munich 12,500 EUR 13 2 11 — -2 71% KSD 85 UG Munich 12,500 EUR 13 2 11 — -2 71% KSD 86 UG Munich 12,500 EUR 13 2 11 — -2 71% KSD 87 UG Munich 12,500 EUR 13 2 11 — -2 71% KSD 88 UG Munich 12,500 EUR 13 2 11 — -2 71% KSD 89 UG Munich 12,500 EUR 13 2 11 — -2 71% KSD 90 UG Munich 12,500 EUR 13 2 11 — -2 71% Other Countries EDPR Belgium Energie, S.R.L. Brussels 1 EUR 4,248 4,391 -143 4 -143 71% EDP Renewables Hungary Budapest 30,300,000 HUF 1,094 3,390 -2,296 161 -2,328 71% Sunlight Solar, Kft. Budapest 5,300,000 HUF 2,720 93 2,627 — -691 61% 50MW Napenergia, Kft. Budapest 3,300,000 HUF 64,261 61,204 3,057 940 -47 71% Nyírség Watt, Kft. Budapest 313,100,000 HUF 34,836 34,231 605 1,168 -495 71% South America Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 464
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Brazil EDP Renováveis Brasil, S.A. São Paulo 3,876,263,545 BRL 883,984 285,012 598,972 5,190 -58,616 71% Central Nacional de Energia Eólica, S.A. São Paulo 12,396,000 BRL 5,740 2,157 3,583 2,300 1,669 36% Elebrás Projetos, S.A. São Paulo 103,779,268 BRL 41,906 14,654 27,252 23,796 13,586 36% Central Eólica Baixa do Feijão I, S.A. São Paulo 39,216,713 BRL 21,470 13,382 8,088 2,475 27 36% Central Eólica Baixa do Feijão II, S.A. São Paulo 40,551,200 BRL 21,451 13,226 8,225 1,930 -314 36% Central Eólica Baixa do Feijão III, S.A. São Paulo 67,416,713 BRL 22,539 14,304 8,235 1,612 -1,153 36% Central Eólica Baixa do Feijão IV, S.A. São Paulo 44,433,110 BRL 20,036 13,196 6,840 1,715 -610 36% Central Eólica JAU, S.A. São Paulo 174,051,904 BRL 65,358 31,443 33,915 6,277 -1,913 36% Central Eólica Aventura I, S.A. São Paulo 81,678,829 BRL 20,881 9,067 11,814 2,186 -889 36% Central Eólica Asas de Zabelê I, S.A. São Paulo 50 BRL — — — — — 71% Central Eólica Asas de Zabelê II, S.A. São Paulo 50 BRL — — — — — 71% Monte Verde Holding, S.A. São Paulo 547,380,911 BRL 70,525 2 70,523 — -8,498 71% Central eólica Monte Verde I, S.A. Lagoa Nova 80,156,000 BRL 51,132 37,517 13,615 4,796 -1,858 71% Central eólica Monte Verde II, S.A. Lagoa Nova 98,853,440 BRL 54,463 45,375 9,088 4,507 -2,726 71% Central eólica Monte Verde III, S.A. Lagoa Nova 80,873,530 BRL 48,040 40,131 7,909 4,093 -2,178 71% Central eólica Monte Verde IV, S.A. Lagoa Nova 147,833,259 BRL 51,255 30,187 21,068 4,727 -574 71% Central eólica Monte Verde V, S.A. Lagoa Nova 45,666,600 BRL 29,502 25,229 4,273 2,689 -1,210 71% Central Eólica Monte Verde VI, S.A. Lagoa Nova 93,453,782 BRL 40,734 26,935 13,799 5,345 61 71% Central Geradora Fotovoltaica Monte Verde Solar II, S.A. São Paulo 87,195,650 BRL 37,024 24,962 12,062 1,941 -1,233 71% Central Geradora Fotovoltaica Monte Verde Solar III, S.A. São Paulo 151,399,650 BRL 44,826 22,570 22,256 2,737 -1,175 71% Central Geradora Fotovoltaica Monte Verde Solar IV, S.A. São Paulo 82,281,200 BRL 36,501 25,036 11,465 2,655 -1,200 71% Central Eólica Asas de Zabelê III, S.A. São Paulo 50 BRL — 1 -1 — — 71% Central Solar Pereira Barreto I, S.A. Pereira Barreto 116,826,475 BRL 24,142 4,511 19,631 2,570 880 71% Central Solar Pereira Barreto II, S.A. Pereira Barreto 109,585,544 BRL 22,948 4,268 18,680 2,561 1,009 71% Central Solar Pereira Barreto III, S.A. Pereira Barreto 172,063,505 BRL 30,460 3,048 27,412 2,520 751 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 465
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Central Solar Pereira Barreto IV, S.A. Pereira Barreto 118,368,114 BRL 23,643 3,983 19,660 2,455 886 71% Central Solar Pereira Barreto V, S.A. Pereira Barreto 120,025,000 BRL 22,652 2,940 19,712 2,168 750 71% Central Solar Lagoa I, S.A. São Paulo 2,773,000 BRL 1,874 1,498 376 — -10 71% Central Solar Lagoa II, S.A. São Paulo 2,540,000 BRL 1,795 1,461 334 — -7 71% Central Geradora Fotovoltaica Monte Verde Solar V, S.A. São Paulo 79,424,200 BRL 36,143 25,186 10,957 2,101 -1,351 71% Central Geradora Fotovoltaica Monte Verde Solar VII, S.A. São Paulo 181,332,200 BRL 34,407 6,375 28,032 2,563 -36 71% Central Eólica Amanhecer I, S.A. São Paulo 50 BRL 2 3 -1 — — 71% Central Eólica Farroupilha S.A. São Paulo 50 BRL 2 3 -1 — — 71% Central Eólica Amanhecer III, S.A. São Paulo 50 BRL — 1 -1 — — 71% Central Eólica Asas de Zabelê IV, S.A. São Paulo 50 BRL — 1 -1 — — 71% Central Solar Zebu I, S.A. São Paulo 3,599,032 BRL 484 1 483 — — 71% Central Solar Zebu II, S.A. São Paulo 50 BRL — — — — — 71% Central Solar Zebu III, S.A. São Paulo 50 BRL — — — — — 71% Central Solar Zebu IV, S.A. São Paulo 50 BRL — — — — — 71% Central Solar Zebu V, S.A. São Paulo 50 BRL — — — — — 71% Central Solar Zebu VI, S.A. São Paulo 50 BRL — — — — — 71% Central Eólica Amanhecer IV, S.A. São Paulo 50 BRL — 1 -1 — — 71% Central Eólica Amanhecer V, S.A. São Paulo 50 BRL — 1 -1 — — 71% Central Eólica Boqueirão Sul S.A. São Paulo 50 BRL — 1 -1 — — 71% Central Eólica Amanhecer VII, S.A. São Paulo 50 BRL — 1 -1 — — 71% Central Eólica Catanduba I, S.A. São Paulo 198,836,543 BRL 56,681 25,117 31,564 4,657 -737 71% Central Eólica Catanduba II, S.A. São Paulo 172,273,873 BRL 54,435 25,075 29,360 5,165 -179 71% Central Solar Novo Oriente I, S.A. São Paulo 50,180,480 BRL 34,038 25,121 8,917 2,337 -534 71% Central Solar Novo Oriente II, S.A. São Paulo 50,180,480 BRL 33,637 23,595 10,042 3,205 359 71% Central Solar Novo Oriente III, S.A. São Paulo 50,180,480 BRL 33,556 23,268 10,288 3,520 597 71% Central Solar Novo Oriente IV, S.A. São Paulo 50,180,480 BRL 33,743 25,091 8,652 4,308 487 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 466
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Central Solar Novo Oriente V, S.A. São Paulo 57,658,040 BRL 38,797 29,642 9,155 3,928 620 71% Central Solar Novo Oriente VI, S.A. São Paulo 56,683,040 BRL 36,090 25,593 10,497 1,920 197 71% Central Eólica Asas de Zabelê V, S.A. São Paulo 50 BRL — 1 -1 — — 71% Central Eólica Asas de Zabelê VI, S.A. São Paulo 50 BRL — 1 -1 — — 71% Central Eólica Asas de Zabelê VII, S.A. São Paulo 50 BRL — 1 -1 — — 71% Central Solar Zebu VII, S.A. São Paulo 50 BRL — 1 -1 — — 71% Central Eólica Cerro Alegre S.A. São Paulo 50 BRL — 1 -1 — — 71% Central Eólica Dos Anjos S.A. São Paulo 50 BRL — 1 -1 — — 71% Central Solar Presidente JK I, S.A. São Paulo 3,196,866 BRL 2 1 1 — -1 71% Central Solar Minas do Sol II, S.A. São Paulo 65,800 BRL 46 1 45 — -2 71% Central Solar Minas do Sol III, S.A. São Paulo 77,800 BRL 21 1 20 — -1 71% Central Solar Minas do Sol IV, S.A. São Paulo 73,800 BRL 18 1 17 — -1 71% Central Solar Minas do Sol V, S.A. São Paulo 75,800 BRL 18 1 17 — -1 71% Central Solar Minas do Sol VI, S.A. São Paulo 72,800 BRL 18 1 17 — -2 71% Central Solar Minas do Sol VII, S.A. São Paulo 76,800 BRL 17 1 16 — -2 71% Central Solar Minas do Sol VIII, S.A. São Paulo 75,800 BRL 18 1 17 — -1 71% Central Solar Fênix I, S.A. São Paulo 800 BRL 3 1 2 — — 71% Central Solar Fênix II, S.A. São Paulo 800 BRL 3 1 2 — -1 71% Central Solar Fênix III, S.A. São Paulo 10,800 BRL — 1 -1 — -1 71% Central Solar Fênix IV, S.A. São Paulo 10,800 BRL 1 1 — — -1 71% Central Geradora Fotovoltaica Monte Verde Solar I, S.A. São Paulo 1,200,050 BRL 211 11 200 — 17 71% Central Geradora Fotovoltaica Monte Verde Solar VI, S.A. São Paulo 1,200,050 BRL 212 11 201 — 17 71% Central Solar Minas do Sol I S.A. São Paulo 5,731,977 BRL 8 10 -2 — -10 71% Central Eólica Uruguaiana I, S.A. São Paulo 50 BRL — — — — — 71% Central Eólica Uruguaiana II, S.A. São Paulo 50 BRL — — — — — 71% Central Eólica Uruguaiana III, S.A. São Paulo 50 BRL — — — — — 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 467
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Central Eólica Uruguaiana IV, S.A. São Paulo 50 BRL — — — — — 71% Central Eólica Uruguaiana V, S.A. São Paulo 50 BRL — — — — — 71% Central Eólica Uruguaiana VI, S.A. São Paulo 50 BRL — — — — — 71% Novo Oriente Solar Holding, S.A. São Paulo 307,858,537 BRL 68,279 11,714 56,565 — 1,708 71% Central Eólica Província dos Ventos S.A. Lagoa Nova 10,000 BRL 2 2 — — -1 71% Central Solar Barra II, S.A. Lagoa Nova 10,000 BRL 2 2 — — -1 71% Central Eólica Vento Bravo S.A. Lagoa Nova 10,000 BRL 2 2 — — -1 71% Central Eólica Ventania Ceará S.A. Lagoa Nova 10,000 BRL 2 2 — — -1 71% Central Eólica Itaúna III, S.A. São Paulo 148,078,050 BRL 39,122 13,938 25,184 3,022 -1,813 71% Central Eólica São Domingos IV, S.A. São Paulo 76,891,050 BRL 22,457 8,351 14,106 1,225 -724 71% Central Eólica São Domingos V, S.A. São Paulo 39,788,050 BRL 12,105 4,042 8,063 659 -401 71% Central Eólica Borborema I, S.A. São Paulo 182,869,149 BRL 59,462 28,908 30,554 1,940 2,137 71% Central Eólica Borborema II, S.A. São Paulo 295,747,428 BRL 85,353 31,068 54,285 2,575 2,169 71% Central Eólica Borborema III, S.A. São Paulo 90,823,764 BRL 24,644 10,023 14,621 1,102 440 71% Central Eólica Borborema IV, S.A. São Paulo 94,853,021 BRL 28,810 13,036 15,774 1,686 1,069 71% Central Eólica Itaúna I, S.A. São Paulo 134,371,350 BRL 29,401 6,424 22,977 1,416 -970 71% Central Eólica Itaúna II, S.A. São Paulo 84,418,050 BRL 22,561 8,421 14,140 1,829 -1,216 71% Central Eólica São Domingos I, S.A. São Paulo 107,348,250 BRL 27,811 9,553 18,258 1,453 -834 71% Central Eólica São Domingos II, S.A. São Paulo 116,303,050 BRL 32,675 11,112 21,563 1,650 -1,083 71% Central Eólica São Domingos III, S.A. São Paulo 58,018,050 BRL 16,898 5,930 10,968 901 -547 71% Central Eólica Barra I, S.A. Lagoa Nova 10,000 BRL 2 2 — — -1 71% Central Eólica Barra II, S.A. Lagoa Nova 10,000 BRL 2 2 — — -1 71% Central Eólica Barra III S.A. Lagoa Nova 10,000 BRL 2 2 — — -1 71% Central Eólica Barra IV S.A. Lagoa Nova 10,000 BRL 2 2 — — -1 71% Central Eólica Barra V, S.A. Lagoa Nova 10,000 BRL 2 2 — — -1 71% Central Eólica Barra VI, S.A. Lagoa Nova 10,000 BRL 2 2 — — -1 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 468
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Central Eólica Barra VII, S.A. Lagoa Nova 10,000 BRL 2 2 — — -1 71% Central Eólica Barra VIII, S.A. Lagoa Nova 10,000 BRL 2 2 — — -1 71% Central Eólica Barra IX, S.A. Lagoa Nova 10,000 BRL 2 2 — — -1 71% Central Eólica Barra X, S.A. Lagoa Nova 10,000 BRL 2 2 — — -1 71% Central Eólica Barra XI, S.A. Lagoa Nova 10,000 BRL 2 2 — — -1 71% Colombia Eolos Energía, S.A.S. E.S.P. Bogotá 63,037,706,700 COP 4,781 487,137 -482,356 7,269 7,464 71% Vientos del Norte, S.A.S. E.S.P. Bogotá 46,204,115,100 COP 7,795 401,181 -393,386 5,663 2,545 71% Solar Power Solutions, S.A.S. E.S.P. Bogotá 2,697,093,500 COP 5,179 1,447 3,732 9 -7 71% Elipse Energía, S.A.S. E.S.P. Bogotá 709,567,000 COP 7 7,827 -7,820 — 20 71% Omega Energía, S.A.S. E.S.P. Bogotá 707,951,000 COP 7 698 -691 — -19 71% Kappa Energía, S.A.S. E.S.P. Bogotá 707,971,000 COP 60 844 -784 — -32 71% Parque Solar Fotovoltaico El Copey, S.A.S. E.S.P. Bogotá 1,270,000,000 COP 2,150 4,215 -2,065 — -73 71% Renewables Energy Colombia S.A.S. Bogotá 1,000,000 COP 14 1,307 -1,293 — -14 71% Chile EDP Renewables Chile, SpA Santiago 11,961,123 USD 170,050 169,119 931 2,886 -2,482 71% Los Llanos Solar, SpA Santiago 592 USD 3,563 5,732 -2,169 — -184 71% Parque Eólico Punta de Talca, SpA Santiago 358,551 USD 152,533 161,009 -8,476 7,165 -3,232 71% Parque Eólico San Andrés, SpA Santiago 438,894 USD 571 7,677 -7,106 — -33 71% Parque Eólico Victoria, SpA Santiago 1,311,374 USD 363 2,308 -1,945 — 135 71% Vientos de Taltal, SpA Santiago 581 USD 8,097 9,173 -1,076 — -1,411 71% PV Ballico, SpA Santiago 516 USD 229 1,465 -1,236 — -1,281 71% North-America United States of America Timber Road Solar Park II LLC Delaware 1,258 USD 7 12 -5 — -2 71% Timber Road Solar Park III LLC Delaware 1,239 USD — 1 -1 — -2 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 469
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EDPR Scarlet II BESS LLC Delaware 284,139,179 USD 224,531 3,345 221,186 16,140 1,404 71% Ragsdale Solar II LLC Delaware 791,830 USD 4,060 3,389 671 — -2 71% Sweet Acres Solar Park LLC Delaware — USD — — — — — 71% New Road Power LLC Delaware 161,385 USD — 13 -13 — -53 71% Iron Valley Solar Park LLC Delaware — USD — — — — — 71% Edwardsport Solar Park LLC Delaware 95,240 USD — 13 -13 — -46 71% Timber Road II Storage LLC Delaware — USD — — — — — 71% Timber Road III Storage LLC Delaware 1,373 USD — 1 -1 — -2 71% Top Crop I Storage LLC Delaware — USD — — — — — 71% Top Crop II Storage LLC Delaware — USD — — — — — 71% Twin Groves I Storage LLC Delaware — USD — — — — — 71% Twin Groves II Storage LLC Delaware — USD — — — — — 71% Misenheimer Solar LLC Delaware 140,451,195 USD 133,528 11,230 122,298 3,637 -826 71% Sandrini LandCo LLC Delaware 24,985,345 USD 22,906 85 22,821 — 1,619 71% EDPR Northeast Allen Solar Park III LLC Delaware 828 USD — 2 -2 — -3 71% Trolley Barn Storage LLC Delaware — USD — — — — — 71% Azalea Springs Solar Park LLC Delaware 273,715,325 USD 281,625 81,863 199,762 11,107 3,680 36% Duff Solar Park II LLC Delaware 28,674 USD — 3 -3 — -13 71% EDPR Northeast Allen Solar Park LLC Delaware 3,145,306 USD 2,713 37 2,676 — — 71% Indiana Crossroads Solar Park II LLC Delaware 19,820 USD — 1 -1 — -5 71% RTSW Solar Park LLC Delaware — USD — — — — — 71% RTSW Solar Park II LLC Delaware — USD — — — — — 71% RTSW Solar Park III LLC Delaware — USD — — — — — 71% RTSW Solar Park IV LLC Delaware — USD — — — — — 71% RTSW Solar Park V LLC Delaware — USD — — — — — 71% RTSW Solar Park VI LLC Delaware — USD — — — — — 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 470
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EDPR Solar Ventures V LLC Delaware 33,084,901 USD 51,923 — 51,923 — 3,885 71% Goldfinger Ventures III LLC Delaware — USD — — — — — 71% Alabama Solar Park LLC Delaware 4,637,850 USD 5,212 1,272 3,940 — -1 71% Teays River Solar Park LLC Delaware 1,209,147 USD 1,047 26 1,021 — — 71% Solar Ventures Purchasing LLC Delaware -25,065,857 USD 1,486 2,200 -714 — 2 71% Esker Solar Park LLC Delaware 339,911 USD 291 2 289 — — 71% EDPR Solar Ventures III LLC Delaware 64,147,392 USD 76,347 141 76,206 — -1,002 71% Greenbow Solar Park LLC Delaware 3,541,782 USD 2,960 108 2,852 — — 71% Holly Hill Solar Park LLC Delaware — USD — — — — — 71% Pleasantville Solar Park LLC Delaware 102,314,243 USD 244,634 151,025 93,609 1,940 2,343 36% Mineral Springs Solar Park LLC Delaware — USD — — — — — 71% EDPR Solar Ventures IV LLC Delaware 73,810,087 USD 105,585 123 105,462 — 2,854 71% Black Prairie Solar Park LLC Delaware 7,237,750 USD 8,037 4,026 4,011 — -444 71% Duff Solar Park LLC Delaware 111,155,899 USD 103,879 9,496 94,383 — -90 71% Eastmill Solar Park LLC Delaware 99,824 USD 84 — 84 — — 71% Lowland Solar Park LLC Delaware 8,322,538 USD 7,731 668 7,063 — — 71% Moonshine Solar Park LLC Delaware 5,159,491 USD 6,239 1,849 4,390 — — 71% Sedge Meadow Solar Park LLC Delaware 144,039 USD — 19 -19 — -65 71% Helena Harbor Solar Park LLC Delaware — USD — — — — — 71% Headwaters Wind Farm III LLC Delaware 15,689,680 USD 14,263 838 13,425 — -836 71% Loki Solar Park LLC Delaware — USD — — — — — 71% Leprechaun Solar Park LLC Delaware — USD — — — — — 71% Little Brook Solar Park LLC Delaware — USD — — — — — 71% EDPR Wind Ventures XX LLC Delaware -95,405,784 USD 35,827 1,837 33,990 — 3,551 71% EDPR Wind Ventures XXI LLC Delaware 134,767,179 USD 224,802 70,240 154,562 — 11,514 71% 2019 Vento XXI LLC Delaware 263,460,727 USD 223,851 749 223,102 — -135 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 471
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Bright Stalk Solar Park LLC Delaware 1,094,099 USD 1,102 176 926 — -3 71% Crossing Trails Wind Power Project II LLC Delaware 1,529,182 USD 2,182 1,826 356 — -378 71% Headwaters Wind Farm IV LLC Delaware — USD — — — — — 71% Tillman Solar Park II LLC Delaware — USD — — — — — 71% Indiana Crossroads Wind Ventures LLC Delaware 25,791 USD — — — — -6 71% Riverstart Solar Park VI LLC Delaware — USD — — — — — 71% Shelby Solar Park LLC Delaware — USD — — — — — 71% EDPR Northeast Allen Solar Park II LLC Delaware 275,745 USD 234 1 233 — — 71% Teays River Wind Farm LLC Delaware 15,450 USD — 4 -4 — -16 71% EDPR Wind Ventures XXII LLC Delaware 368,198,339 USD 827,522 409,793 417,729 — 35,658 71% 2020 Vento XXII LLC Delaware 972,338,558 USD 819,602 1,137 818,465 — -959 71% Rosewater Ventures LLC Delaware — USD — — — — — 71% Crescent Bar Solar Park LLC Delaware — USD — — — — — 71% Esker Solar Park II LLC Delaware — USD — — — — — 71% Bluebird Prairie Solar Park LLC Delaware — USD — — — — — 71% Tillman Solar Park LLC Delaware 6,174 USD 652 649 3 — — 71% RE Scarlet LLC Delaware 388,989,081 USD 347,057 13,613 333,444 11,891 10,422 71% EDPR Solar Ventures XIII LLC Delaware 254,691,171 USD 408,221 153,722 254,499 — 33,879 71% 2024 SOL XIII LLC Delaware 479,659,908 USD 410,130 2,075 408,055 — -169 71% Twin Groves Solar Park LLC Delaware — USD — — — — — 71% Columbus Storage LLC Delaware — USD — — — — — 71% Lumberjack Storage LLC Delaware — USD — — — — — 71% Buffalo Lick Solar Park LLC Delaware — USD — — — — — 71% Winding Canyon Wind LLC Delaware — USD — — — — — 71% Prospector Solar Park LLC Delaware — USD — — — — — 71% Rye Patch Solar Park LLC Delaware — USD — — — — — 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 472
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Loblolly Hill Solar Park LLC Delaware — USD — — — — — 71% Meadow Lake Wind Farm VIII LLC Delaware 31,872 USD — — — — — 71% Loyal Wind Farm LLC Delaware — USD — — — — — 71% Marathon Wind Farm LLC Delaware -9,900,339 USD 2 39 -37 — 8,746 71% EDPR Wind Ventures XIX LLC Delaware -98,373,434 USD 28,290 6,768 21,522 — 3,392 71% Cielo Solar Park LLC Delaware — USD — — — — — 71% Quilt Block Wind Farm II LLC Delaware 1,558,733 USD 1,353 27 1,326 — — 71% Shullsburg Wind Farm LLC Delaware — USD — — — — — 71% Loma de la Gloria Solar Park LLC Delaware — USD — — — — — 71% Wrangler Solar Park LLC Delaware — USD — — — — — 71% San Clemente Solar Park LLC Delaware — USD — — — — — 71% Wildcat Creek Wind Farm LLC Delaware 245,575,179 USD 221,111 20,799 200,312 9,285 -6,978 71% Indiana Crossroads Wind Farm II LLC Delaware 348,976,910 USD 335,492 31,418 304,074 18,523 1,186 36% Bayou Bend Solar Park LLC Delaware 41 USD 1 1 — — — 71% Poplar Camp Wind Farm LLC Delaware — USD — — — — — 71% Avondale Solar Park LLC Delaware 3,469,244 USD 2,996 6 2,990 — 3 71% EDPR Wind Ventures XVIII LLC Delaware 136,026,395 USD 309,802 102,102 207,700 — 21,960 71% 2018 Vento XVIII LLC Delaware 364,016,774 USD 309,119 216 308,903 — -114 71% Coldwater Solar Park LLC Delaware — USD — — — — — 71% Sweet Stream Wind Farm LLC Delaware — USD — — — — — 71% EDPR Solar Ventures II LLC Delaware 51,106,482 USD 83,071 9,469 73,602 — 233 71% 2017 Sol II LLC Delaware 97,608,395 USD 83,324 543 82,781 — -23 71% Cameron Solar LLC South Carolina 31,087,701 USD 28,807 2,450 26,357 1,662 -237 71% Estill Solar I LLC South Carolina 35,681,937 USD 30,319 1,854 28,465 1,033 -885 71% Hampton Solar II LLC South Carolina 31,135,951 USD 29,078 1,393 27,685 1,804 44 71% EDPR Wind Ventures XVII LLC Delaware -175,491,091 USD 49,454 2,547 46,907 — 6,706 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 473
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Franklin Wind Farm LLC Delaware — USD — — — — — 71% Paulding Wind Farm IV LLC Delaware 194,483,568 USD 174,381 72,859 101,522 10,652 -1,040 71% Rush County Wind Farm LLC Delaware 2,979,813 USD 4 6 -2 — — 71% EDPR South Table LLC Nebraska — USD — — — — — 71% Casa Grande Carmel Solar LLC Delaware — USD — — — — — 71% Paulding Wind Farm V LLC Delaware — USD — — — — — 71% Headwaters Wind Farm II LLC Delaware 247,665,782 USD 240,150 93,165 146,985 11,592 -2,674 71% Waverly Wind Farm II LLC Delaware — USD — — — — — 71% Spruce Ridge Wind Farm LLC Delaware — USD — — — — — 71% Reloj del Sol Wind Farm LLC Delaware 308,541,071 USD 256,411 34,864 221,547 6,902 -13,467 71% 2016 Vento XV LLC Delaware 434,759,676 USD 369,406 1,044 368,362 — -149 71% 2016 Vento XVI LLC Delaware 105,432,719 USD 88,894 207 88,687 — -115 71% EDPR Wind Ventures XV LLC Delaware 118,029,595 USD 370,009 143,693 226,316 — 23,349 71% EDPR Wind Ventures XVI LLC Delaware 38,040,823 USD 89,730 27,827 61,903 — 7,603 71% Blue Marmot I LLC Delaware — USD — — — — — 71% Blue Marmot II LLC Delaware — USD — — — — — 71% Drake Peak Solar Park LLC Delaware — USD — — — — — 71% Blue Marmot IV LLC Delaware — USD — — — — — 71% Blue Marmot V LLC Delaware — USD — — — — — 71% Blue Marmot VI LLC Delaware — USD — — — — — 71% Blue Marmot VII LLC Delaware — USD — — — — — 71% Blue Marmot VIII LLC Delaware — USD — — — — — 71% Blue Marmot IX LLC Delaware 4,101,234 USD 3,489 — 3,489 — 3 71% Blue Marmot Solar Park LLC Delaware — USD — — — — — 71% Blue Marmot XI LLC Delaware — USD — — — — — 71% Horse Mountain Wind Farm LLC Delaware — USD — — — — — 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 474
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Riverstart Solar Park II LLC Delaware 1,281,557 USD 1,197 109 1,088 — — 71% Hidalgo Wind Farm II LLC Delaware 68,486,955 USD 57,848 23,976 33,872 884 -3,328 71% Long Hollow Wind Farm LLC Delaware — USD — — — — — 71% Castle Valley Wind Farm LLC Delaware — USD — — — — — 71% White Stone Solar Park LLC Delaware — USD — — — — — 71% Riverstart Solar Park III LLC Delaware 175,121,240 USD 175,662 21,479 154,183 7,539 9,884 71% Dry Creek Solar Park LLC Delaware — USD — — — — — 71% Riverstart Solar Park IV LLC Delaware 117,518,959 USD 210,304 121,473 88,831 521 57 71% Riverstart Solar Park V LLC Delaware 16,591,635 USD 15,025 983 14,042 — -51 71% Paulding Wind Farm VI LLC Delaware — USD — — — — — 71% Renville County Wind Farm LLC Delaware 2,058,287 USD 1,796 45 1,751 — — 71% EDPR CA Solar Park LLC Delaware 223,305,691 USD 271,426 85,135 186,291 14,156 -597 38% EDPR CA Solar Park II LLC Delaware 117,274,927 USD 144,512 47,786 96,726 12,176 2,551 39% EDPR CA Solar Park III LLC Delaware 34,084,393 USD 35,584 6,636 28,948 — -23 71% EDPR CA Solar Park IV LLC Delaware — USD — — — — — 71% EDPR CA Solar Park V LLC Delaware 12,928,718 USD 11,112 132 10,980 — 195 71% EDPR CA Solar Park VI LLC Delaware 60,923,341 USD 135,061 83,499 51,562 — -16 71% EDP Renewables North America LLC Delaware 8,752,327,994 USD 7,604,475 1,220,144 6,384,331 141,451 -244,337 71% Wind Turbine Prometheus LP Delaware 5,990 USD — — — — — 71% Lost Lakes Wind Farm LLC Delaware 107,488,210 USD 87,364 12,484 74,880 11,348 -3,640 71% Whitestone Wind Purchasing LLC Delaware 164,460,533 USD 189,292 27,869 161,423 — -1,298 71% Blue Canyon Windpower V LLC Texas -43,122,882 USD 84,196 7,510 76,686 19,406 9,148 36% Sagebrush Power Partners LLC Delaware 122,213,395 USD 114,321 9,250 105,071 16,541 4,599 71% Marble River LLC Delaware 135,413,723 USD 245,605 82,460 163,145 38,474 16,051 71% Blackstone Wind Farm LLC Delaware 58,125,590 USD 96,986 34,989 61,997 13,407 3,910 71% Aroostook Wind Energy LLC Delaware 49,435,244 USD 37,650 271 37,379 — -4 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 475
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Jericho Rise Wind Farm LLC Delaware 90,380,104 USD 107,505 9,265 98,240 15,660 4,341 71% Signal Hill Wind Power Project LLC Delaware 4,502 USD — — — — — 71% Tumbleweed Wind Power Project LLC Delaware 4,003 USD — — — — — 71% Stinson Mills Wind Farm LLC Delaware 4,802,332 USD 4,042 39 4,003 — — 71% OPQ Property LLC Delaware -203,019 USD — — — — — 71% Meadow Lake Wind Farm LLC Delaware 143,843,947 USD 181,522 63,028 118,494 26,460 10,640 71% Wheat field Wind Power Project LLC Delaware -64,302,698 USD 64,152 21,495 42,657 13,585 5,423 36% High Trail Wind Farm LLC Delaware 83,238,043 USD 164,455 17,075 147,380 29,950 4,902 71% Madison Windpower LLC Delaware 24,369,757 USD 496 453 43 -11 -4,936 71% Mesquite Wind LLC Delaware 101,380,413 USD 121,062 8,933 112,129 6,243 -14,134 71% BC2 Maple Ridge Wind LLC Delaware 258,230,151 USD 74,997 4,642 70,355 — -729 71% Blue Canyon Windpower II LLC Texas 282,998,980 USD 190,585 20,275 170,310 18,343 -4,306 71% Telocaset Wind Power Partners LLC Delaware -64,007,194 USD 70,615 8,026 62,589 20,631 9,627 36% Post Oak Wind LLC Delaware 107,871,011 USD 133,460 9,415 124,045 7,560 -13,927 36% High Prairie Wind Farm II LLC Delaware 19,898,119 USD 68,949 11,154 57,795 12,611 3,396 36% Old Trail Wind Farm LLC Delaware 9,210,300 USD 166,131 16,229 149,902 33,639 12,044 36% Cloud County Wind Farm LLC Delaware 74,330,923 USD 136,567 14,053 122,514 18,503 2,806 36% Pioneer Prairie Wind Farm I LLC Delaware 70,246,360 USD 249,613 33,249 216,364 37,681 2,013 36% Arlington Wind Power Project LLC Delaware 33,387,757 USD 74,836 6,908 67,928 9,048 -2,239 36% Rail Splitter Wind Farm LLC Delaware 181,890,014 USD 104,423 14,558 89,865 10,503 -2,267 71% Meadow Lake Wind Farm II LLC Delaware 126,415,593 USD 94,718 12,551 82,167 14,261 2,002 71% Black Prairie Wind Farm LLC Delaware 1,187,946 USD 1,010 1 1,009 — — 71% Meadow Lake Wind Farm IV LLC Delaware 104,637,262 USD 89,512 31,872 57,640 5,933 -17,834 71% Blackstone Wind Farm II LLC Delaware 128,228,383 USD 213,494 77,707 135,787 27,800 8,687 71% Saddleback Wind Power Project LLC Delaware 1,361,912 USD 10 — 10 — — 71% Meadow Lake Wind Farm III LLC Delaware 57,893,154 USD 105,229 37,221 68,008 16,010 6,857 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 476
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2007 Vento I LLC Delaware 438,379,443 USD 449,323 17,181 432,142 7,512 4,548 71% 2007 Vento II LLC Delaware 79,984,630 USD 63,256 629 62,627 — -153 36% 2008 Vento III LLC Delaware 183,472,704 USD 151,463 1,333 150,130 — 24 36% 2009 Vento V LLC Delaware -40,305,029 USD -35,408 81 -35,489 — -5 36% Horizon Wind Ventures I LLC Delaware -523,274,961 USD 556,608 262,768 293,840 — 6,044 71% Horizon Wind Ventures III LLC Delaware -94,920,457 USD -34,302 1,845 -36,147 — 442 36% Clinton County Wind Farm LLC Delaware 135,421,479 USD 115,246 — 115,246 — — 71% Antelope Ridge Wind Power Project LLC Delaware 12,828,809 USD — — — — — 71% Lexington Chenoa Wind Farm II LLC Delaware 6,268,898 USD 5,080 257 4,823 — — 71% Blackstone Wind Farm III LLC Delaware 6,275,439 USD — — — — — 71% Paulding Wind Farm LLC Delaware 57,123 USD 1 1 — — -16 71% Paulding Wind Farm II LLC Delaware -956,309 USD 104,757 18,007 86,750 20,752 9,807 36% Waverly Wind Farm LLC Delaware 176,458,236 USD 202,068 15,584 186,484 16,981 -231 36% Blue Canyon Windpower VI LLC Delaware 91,209,211 USD 77,463 7,843 69,620 4,538 -3,962 71% Paulding Wind Farm III LLC Delaware 104,169,930 USD 140,843 17,602 123,241 12,228 5,658 71% 2011 Vento IX LLC Delaware 666,503 USD -813 194 -1,007 — -122 36% Horizon Wind Ventures IX LLC Delaware -37,254,785 USD 568 27,260 -26,692 — 1,724 36% EDPR Vento IV Holding LLC Delaware 162,839,282 USD 154,800 116 154,684 — — 71% Headwaters Wind Farm LLC Delaware 120,079,659 USD 231,759 27,965 203,794 29,521 7,745 36% Lone Valley Solar Park I LLC Delaware 17,189,509 USD 19,639 1,566 18,073 2,133 503 36% Lone Valley Solar Park II LLC Delaware 24,673,019 USD 36,781 3,089 33,692 4,713 1,999 36% Rising Tree Wind Farm LLC Delaware 27,750,600 USD 101,947 3,450 98,497 19,269 9,062 36% Arbuckle Mountain Wind Farm LLC Delaware 128,120,623 USD 110,381 9,608 100,773 9,033 -285 36% Hidalgo Wind Farm LLC Delaware 343,670,410 USD 259,277 48,386 210,891 9,161 -16,189 71% Rising Tree Wind Farm III LLC Delaware 64,964,377 USD 126,162 3,399 122,763 19,868 6,333 36% Rising Tree Wind Farm II LLC Delaware 14,705,876 USD 23,582 2,148 21,434 2,962 844 36% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 477
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Wheat field Holding LLC Delaware -64,193,656 USD -54,725 70 -54,795 — -7 36% EDPR WF LLC Delaware 34,858,478 USD 29,667 — 29,667 — — 71% Sustaining Power Solutions LLC Delaware 155,282,768 USD 84,574 37,576 46,998 64,213 41,623 71% Green Power Offsets LLC Delaware 10,515 USD — — — — — 71% Arkwright Summit Wind Farm LLC Delaware 145,754,840 USD 153,741 21,275 132,466 17,537 1,915 71% Randolph Solar Park LLC Delaware 315,565,886 USD 281,671 8,608 273,063 14,158 6,405 36% EDPR Vento I Holding LLC Delaware 220,695,161 USD 187,826 — 187,826 — — 71% Blue Canyon Windpower LLC Texas 49,976,213 USD 8,269 4,760 3,509 — -2,020 53% Turtle Creek Wind Farm LLC Delaware 214,839,255 USD 228,524 22,680 205,844 17,158 1,223 71% Rio Blanco Wind Farm LLC Delaware 3,141,176 USD 2,675 2 2,673 — — 71% BC2 Maple Ridge Holdings LLC Delaware — USD — — — — — 71% Plum Nellie Wind Farm LLC Delaware 9,065,978 USD 7,937 271 7,666 — — 71% Five-Spot LLC Delaware — USD — — — — — 71% Horizon Wind Chocolate Bayou I LLC Delaware — USD — — — — — 71% Alabama Ledge Wind Farm LLC Delaware — USD — — — — — 71% Ashford Wind Farm LLC Delaware — USD — — — — — 71% Athena-Weston Wind Power Project LLC Delaware — USD — — — — — 71% Lexington Chenoa Wind Farm III LLC Delaware — USD — — — — — 71% Blackstone Wind Farm IV LLC Delaware — USD — — — — — 71% WTP Management Company LLC Delaware — USD — — — — — 71% Blackstone Wind Farm V LLC Delaware — USD — — — — — 71% Blue Canyon Windpower III LLC Texas — USD — — — — — 71% Blue Canyon Windpower IV LLC Texas — USD — — — — — 71% Broadlands Wind Farm II LLC Delaware — USD — — — — — 71% Broadlands Wind Farm III LLC Delaware — USD — — — — — 71% Chateaugay River Wind Farm LLC Delaware — USD — — — — — 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 478
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Cropsey Ridge Wind Farm LLC Delaware — USD — — — — — 71% EDPR Wind Ventures XI LLC Delaware -18,731,924 USD 103,031 28,301 74,730 — 1,354 36% EDPR Wind Ventures XII LLC Delaware 4,648,850 USD 37,164 9,718 27,446 — 594 36% EDPR Wind Ventures XIII LLC Delaware 63,391,942 USD 165,290 32,161 133,129 — 11,868 36% EDPR Wind Ventures XIV LLC Delaware 22,757,944 USD 150,656 37,629 113,027 — 18,418 36% Crossing Trails Wind Power Project LLC Delaware 157,207,294 USD 131,507 14,531 116,976 4,018 -4,606 71% Dairy Hills Wind Farm LLC Delaware — USD — — — — — 71% Diamond Power Partners LLC Delaware — USD — — — — — 71% East Klickitat Wind Power Project LLC Delaware — USD — — — — — 71% Ford Wind Farm LLC Delaware — USD — — — — — 71% Gulf Coast Windpower Management Company LLC Delaware — USD — — — — — 53% Horizon Wind Energy Northwest IV LLC Delaware — USD — — — — — 71% Horizon Wind Energy Northwest VII LLC Delaware 1,460,192 USD 5,919 4,790 1,129 — 695 71% Horizon Wind Energy Northwest X LLC Delaware — USD — — — — — 71% Horizon Wind Energy Northwest XI LLC Delaware — USD — — — — — 71% Horizon Wind Energy Panhandle I LLC Delaware — USD — — — — — 71% Horizon Wind Energy Southwest I LLC Delaware — USD — — — — — 71% Horizon Wind Energy Southwest II LLC Delaware — USD — — — — — 71% Horizon Wind Energy Southwest III LLC Delaware — USD — — — — — 71% Horizon Wind Energy Southwest IV LLC Delaware — USD — — — — — 71% Horizon Wind Energy Valley I LLC Delaware — USD — — — — — 71% Horizon Wind MREC Iowa Partners LLC Delaware — USD — — — — — 53% Horizon Wind Freeport Windpower I LLC Delaware — USD — — — — — 71% Juniper Wind Power Partners LLC Delaware — USD — — — — — 71% Machias Wind Farm LLC Delaware — USD — — — — — 71% Blue Canyon Windpower VII LLC Delaware — USD — — — — — 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 479
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New Trail Wind Farm LLC Delaware — USD — — — — — 71% North Slope Wind Farm LLC Delaware — USD — — — — — 71% Number Nine Wind Farm LLC Delaware — USD — — — — — 71% Pacific Southwest Wind Farm LLC Delaware — USD — — — — — 71% Horizon Wyoming Transmission LLC Delaware — USD — — — — — 71% Buffalo Bluff Wind Farm LLC Delaware 5,644,945 USD 4,852 51 4,801 — -1 71% Sardinia Windpower LLC Delaware — USD — — — — — 71% Rail Splitter Wind Farm II LLC Delaware 5,864,351 USD 5,165 175 4,990 — -1 71% Western Trail Wind Project I LLC Delaware 4,615,925 USD 30 — 30 — — 71% Whistling Wind WI Energy Center LLC Delaware — USD — — — — — 71% Simpson Ridge Wind Farm LLC Delaware — USD — — — — — 71% Coos Curry Wind Power Project LLC Delaware — USD — — — — — 71% Horizon Wind Energy Midwest IX LLC Delaware — USD — — — — — 71% Horizon Wind Energy Northwest I LLC Delaware — USD — — — — — 71% AZ Solar LLC Delaware — USD — — — — — 71% Peterson Power Partners LLC Delaware — USD — — — — — 71% Big River Wind Power Project LLC Delaware 2,908,056 USD 2,292 120 2,172 — -314 71% Tug Hill Windpower LLC Delaware — USD — — — — — 71% Whiskey Ridge Power Partners LLC Delaware — USD — — — — — 71% Wilson Creek Power Project LLC Delaware — USD — — — — — 71% Black Prairie Wind Farm II LLC Delaware — USD — — — — — 71% Black Prairie Wind Farm III LLC Delaware — USD — — — — — 71% 2015 Vento XIV LLC Delaware 177,021,165 USD 150,177 619 149,558 — -121 36% Simpson Ridge Wind Farm II LLC Delaware — USD — — — — — 71% Simpson Ridge Wind Farm III LLC Delaware — USD — — — — — 71% Simpson Ridge Wind Farm IV LLC Delaware — USD — — — — — 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 480
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Simpson Ridge Wind Farm V LLC Delaware — USD — — — — — 71% Athena-Weston Wind Power Project II LLC Delaware — USD — — — — — 71% 17th Star Wind Farm LLC Delaware — USD — — — — — 71% Green Country Wind Farm LLC Delaware — USD — — — — — 71% 2014 Vento XI LLC Delaware 121,061,519 USD 102,233 97 102,136 — 8 36% EDPR Solar Ventures I LLC Delaware 15,925,834 USD 36,692 3,204 33,488 — 139 36% 2014 Sol I LLC Delaware 43,113,520 USD 35,859 64 35,795 — -82 36% 2014 Vento XII LLC Delaware 43,667,627 USD 36,648 124 36,524 — -385 36% Rolling Upland Wind Farm LLC Delaware 6,101,223 USD 5,270 85 5,185 — — 71% 2015 Vento XIII LLC Delaware 194,216,192 USD 164,798 869 163,929 — -134 36% EDPR NA DG Holding LLC Delaware 228,672,564 USD 194,548 37 194,511 — -23 71% NDIW California RE LLC Delaware — USD — — — — — 71% Tillman Storage LLC Delaware 34,623 USD — 12 -12 — -43 71% Black Prairie Storage LLC Delaware — USD — — — — — 71% Black Prairie Storage II LLC Delaware — USD — — — — — 71% Pueblo Norte Solar Park LLC Delaware — USD — — — — — 71% EDPR Solar Ventures VI LLC Delaware 4,177,582 USD 3,208 -361 3,569 — — 71% 2022 SOL VI LLC Delaware 3,769,633 USD 3,293 190 3,103 — -110 71% EDPR Solar Ventures VII LLC Delaware 53,456,040 USD 14,421 -89 14,510 — -17,191 71% EDPR RS LLC Delaware — USD — — — — — 71% Pearl River Solar Park LLC Delaware 277,839,395 USD 255,182 4,951 250,231 12,562 -21 71% Sugar Plum Solar Park LLC Delaware — USD — — — — — 71% EDPR NA Greenfield Solar Park LLC Delaware — USD — — — — — 71% Sailor Springs Solar Park LLC Delaware 76,331 USD 470 405 65 — — 71% 10 Point Solar Park LLC Delaware 13,034 USD 467 456 11 — — 71% Black Prairie Solar Park II LLC Delaware — USD — — — — — 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 481
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Rock Dane Solar Park LLC Delaware — USD — — — — — 71% Sawmill Junction Solar Park LLC Delaware 7,440,368 USD 8,024 1,694 6,330 — -2 71% Cattlemen Solar Park II LLC Delaware 229,348,504 USD 212,753 50,021 162,732 12,727 -3,526 36% Crooked Lake Solar LLC Delaware 271,977,529 USD 282,781 28,035 254,746 16,721 6,371 71% Clover Creek Solar Project LLC Delaware 22,286,804 USD 21,110 2,216 18,894 — 124 71% Wolf Run Solar LLC Delaware 257,657,523 USD 275,254 14,810 260,444 18,253 8,308 71% EDPR Scarlet II LLC Delaware 349,431,421 USD 372,420 6,669 365,751 13,837 -4,434 71% Clover Creek Solar Project II LLC Delaware 6,735 USD — 7 -7 — -13 71% Hickory Solar LLC Delaware 222,868,353 USD 232,816 15,940 216,876 16,335 5,999 71% EDPR Scarlet I LLC Delaware 3,868,736 USD 1,792 309 1,483 — -1,314 71% EDPR Scarlet III LLC Delaware — USD — 12 -12 — -12 71% Crooked Lake Solar II LLC Delaware — USD — — — — — 71% Cypress Knee Solar Park LLC Delaware 3,460,138 USD 6,226 3,497 2,729 — -214 71% Eagle Creek Solar Park LLC Delaware 21,528,460 USD 41,131 22,812 18,319 — -20 71% Rose Run Solar Park LLC Delaware 889,720 USD 764 7 757 — — 71% Salt Lick Solar Park LLC Delaware 10,439 USD 352 344 8 — — 71% Lotus Blocker LLC Delaware 151 USD — — — — — 71% EDPR Aurora Holdings LLC Delaware 2,648 USD — — — — — 71% Lotus DevCo II LLC Delaware 3,027 USD — — — — — 71% Big River Solar Park LLC Delaware — USD — — — — — 71% Shy Place Solar Park LLC Delaware — USD — — — — — 71% Ragsdale Solar LLC Delaware 174,234,641 USD 168,784 9,339 159,445 10,988 7,570 36% EDPR Wind Ventures XXIII LLC Delaware 119,516,854 USD 226,198 86,343 139,855 — 11,856 71% 2021 Vento XXIII LLC Delaware 265,782,460 USD 240,877 16,410 224,467 — -866 71% EDPR Vento II Holding LLC Delaware — USD — — — — — 71% EDPR Vento III Holding LLC Delaware — USD — — — — — 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 482
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Carpenter Wind Farm LLC Delaware 308,696,629 USD 399,186 135,815 263,371 2,640 939 71% Eighty South Solar Park LLC Delaware — USD — — — — — 71% Hobolochitto Solar Park LLC Delaware 41,063 USD — 9 -9 — -36 71% Poplarville Solar Park LLC Delaware — USD — — — — — 71% Stone North Solar Park LLC Delaware — USD — — — — — 71% Turkey Creek Solar Park LLC Delaware 51,413 USD — 9 -9 — -36 71% EDPR Wind Ventures XXIV LLC Delaware 189,196,399 USD 301,117 130,072 171,045 — 5,545 36% 2023 Vento XXIV LLC Delaware 350,899,576 USD 298,800 220 298,580 — -94 36% Duff Storage LLC Delaware — USD — — — — — 71% Northern Waters Solar Park LLC Delaware 65,470 USD — 21 -21 — -80 71% Three Lakes Solar LLC Delaware 13,412 USD — 4 -4 — -14 71% Liberty Valley Solar Park LLC Delaware — USD — — — — — 71% North Slope Solar Park LLC Delaware — USD — — — — — 71% Northern Waters Solar Park II LLC Delaware — USD — — — — — 71% EDPR Northeast Allen Energy Storage LLC Delaware 1,021 USD — — — — -1 71% EDPR Northeast Allen Energy Storage II LLC Delaware — USD — — — — — 71% 2023 SOL VIII LLC Delaware 689,969,044 USD 587,463 438 587,025 — -172 71% EDPR Solar Ventures VIII LLC Delaware 375,074,708 USD 587,208 193,957 393,251 — 50,226 71% EDPR Magnolia DevCo LLC Delaware 28 USD — — — — — 71% EDPR Magnolia Holdings LLC Delaware 1 USD — — — — — 71% EDPR Solar Ventures IX LLC Delaware 22,531,004 USD 27,283 -142 27,425 — -28,556 71% EDPR Dahlia DevCo LLC Delaware — USD — — — — — 71% EDPR Dahlia Holdings LLC Delaware — USD — — — — — 71% Jericho Solar Park LLC Delaware 3,212 USD — 1 -1 — -4 71% Black River Solar Park LLC Delaware — USD — — — — — 71% Crooked Lake Solar III LLC Delaware — USD — — — — — 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 483
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Trailing Springs Storage LLC Delaware — USD — — — — — 71% Daffodil Grove Storage LLC Delaware — USD — — — — — 71% Longleaf Storage LLC Delaware — USD — — — — — 71% Flatland Storage LLC Delaware 223,395,314 USD 209,210 20,192 189,018 — -889 71% Sandrini BESS Storage LLC Delaware -77,307,193 USD — 66,196 -66,196 — -347 36% 2024 Sol X LLC Delaware 174,758,437 USD 149,112 488 148,624 — -119 71% EDPR Solar Ventures X LLC Delaware 107,825,211 USD 148,731 47,322 101,409 — 9,591 71% EDPR Cardinal Holdings LLC Delaware — USD — — — — — 71% EDPR Cardinal DevCo LLC Delaware — USD — — — — — 71% 2024 SOL XI LLC Delaware 633,607,045 USD 539,209 88 539,121 — -122 71% EDPR Solar Ventures XI LLC Delaware 428,153,500 USD 539,240 154,953 384,287 — 19,449 71% EDPR Goldfinch Holdings LLC Delaware — USD — — — — — 71% EDPR Goldfinch DevCo LLC Delaware — USD — — — — — 71% 2024 SOL XV LLC Delaware 222,996,736 USD 190,048 397 189,651 — -138 38% EDPR Solar Ventures XV LLC Delaware 143,897,880 USD 189,784 32 189,752 — -111 36% EDPR Sandrini Holdings LLC Delaware 219,812 USD — 65 -65 — -262 71% EDPR NA DevCo LLC Delaware 132,929 USD 35 38 -3 — -121 71% 2024 SOL XVI LLC Delaware 117,414,588 USD 99,809 23 99,786 — -147 39% EDPR Solar Ventures XVI LLC Delaware 80,837,743 USD 99,927 -920 100,847 — -57 36% Hickory BESS LLC Delaware — USD — — — — — 71% Peach Grove BESS LLC Delaware 51,413 USD — 9 -9 — -36 71% Pleasantville Storage LLC Delaware — USD — — — — — 71% Sonrisa BESS LLC Delaware — USD — — — — — 71% Indigo Solar Park LLC Delaware — USD — — — — — 71% Western Star Solar Park LLC Delaware — USD — — — — — 71% EDPR Solar Ventures XII LLC Delaware 305,549,187 USD 443,161 175,238 267,923 — 7,868 36% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 484
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2024 SOL XII LLC Delaware 515,807,289 USD 440,038 801 439,237 — 254 36% EDPR Solar Ventures XIV LLC Delaware 116,729,756 USD 196,935 80,195 116,740 — 18,082 36% 2024 SOL XIV LLC Delaware 229,345,021 USD 195,191 92 195,099 — -92 36% Big River Energy Storage LLC Delaware — USD — — — — — 71% Teays River Energy Storage LLC Delaware — USD — — — — — 71% Las Camas Energy Storage LLC Delaware — USD — — — — — 71% Sweet Acres Energy Storage LLC Delaware — USD — — — — — 71% 2024 SOL XVII LLC Delaware 273,600,670 USD 232,949 151 232,798 — -55 36% EDPR Solar Ventures XVII LLC Delaware 127,156,065 USD 235,788 117,892 117,896 — 10,064 36% Breezeway Solar Park LLC Delaware — USD — — — — — 71% 2025 BATERIA I, LLC Delaware 254,385,541 USD 216,532 28 216,504 — 6 71% 2025 BATERIA II, LLC Delaware -77,297,646 USD -65,794 — -65,794 — -9 36% EDPR BESS Ventures I, LLC Delaware 122,236,090 USD 216,499 112,468 104,031 — — 71% EDPR BESS Ventures II, LLC Delaware -77,297,646 USD -65,785 — -65,785 — — 36% EDPR Sandrini BESS Holdings, LLC Delaware — USD — — — — — 71% EDPR Ventures XIII Holdings, LLC Delaware — USD — — — — — 71% EDPR VH XIII Holdings, LLC Delaware — USD — — — — — 71% Emerald Bluffs Solar Park LLC Delaware — USD — — — — — 71% Juneau Solar Park LLC Delaware — USD — — — — — 71% Overton Solar Park LLC Delaware — USD — — — — — 71% Pleasantville Solar Park II LLC Delaware — USD — — — — — 71% Prairie Star Energy Storage LLC Delaware — USD — — — — — 71% Turtle Creek Energy Storage LLC Delaware — USD — — — — — 71% Quilt Block Energy Storage LLC Delaware — USD — — — — — 71% Mudcat Solar Park LLC Delaware — USD — — — — — 71% EDPR Solar Ventures XVIII Delaware — USD — — — — — 36% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 485
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2025 SOL XVIII Delaware 102,163,813 USD 87,076 -1,880 88,956 — 2,088 36% Rail Splitter Wind Farm III LLC Delaware — USD — — — — — 71% EDPR Solar Ventures XIX Delaware — USD — — — — — 71% 2025 SOL XIX Delaware — USD — — — — — 71% EDPR Wind Ventures XXV Delaware 39,565,942 USD 262,720 229,047 33,673 — — 71% 2025 Vento XXV Delaware 308,696,629 USD 262,720 14 262,706 — -15 71% EDPR Vento XXV Delaware — USD — — — — — 71% Driftwood Energy Storage Delaware — USD — — — — — 71% Junction 51 Solar Park LLC Delaware — USD — — — — — 71% Kings Branch Solar Park LLC Delaware — USD — — — — — 71% Kings Branch Energy Storage LLC Delaware — USD — — — — — 71% Spot Mill Solar Park LLC Delaware — USD — — — — — 71% Spot Mills Energy Storage LLC Delaware — USD — — — — — 71% EDPR Pioneer Holdings LLC Delaware 449,936,417 USD 1,000,439 — 1,000,439 — — 71% Pioneer JV Holdings LLC Delaware 1,169,793,200 USD 995,569 — 995,569 — — 36% Eagle Creek Solar Park II LLC Delaware — USD — — — — — 71% Bright Stalk Energy Storage LLC Delaware — USD — — — — — 71% Salt Lick Energy Storage LLC Delaware — USD — — — — — 71% Riverstart VI Energy Storage LLC Delaware — USD — — — — — 71% Crooked Lake II Energy Storage LLC Delaware — USD — — — — — 71% Canada EDP Renewables Canada Ltd. British Columbia 290,352,084 CAD 219,084 29,713 189,371 — -7,344 71% SBWF GP Inc. British Columbia -1,294 CAD — — — — — 36% South Dundas Wind Farm LP Ontario -21,349,843 CAD 36,587 15,376 21,211 7,006 3,296 36% Nation Rise Wind Farm GP Inc. British Columbia 1,690 CAD 36 128 -92 — -32 71% Nation Rise Wind Farm LP Ontario 62,083,970 CAD 166,493 119,033 47,460 14,880 2,796 36% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 486
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South Branch Wind Farm II GP Inc. British Columbia — CAD — — — — — 71% South Branch Wind Farm II LP Ontario 4,307,833 CAD 2,743 622 2,121 — 40 71% EDP Renewables Canada Management Services Ltd British Columbia -6,730,775 CAD 5,349 9,498 -4,149 519 35 71% Bromhead Solar Park GP Ltd British Columbia — CAD — — — — — 71% Bromhead Solar Park LP Saskatchewan — CAD — 267 -267 — 27 71% Halbrite Solar Park GP Ltd British Columbia — CAD — — — — — 71% Halbrite Solar Park LP Saskatchewan — CAD — 267 -267 — 27 71% Blue Bridge Solar Park GP Ltd British Columbia — CAD — — — — — 71% Blue Bridge Solar Park LP Alberta — CAD — 336 -336 — 7 71% EDP Renewables SH II Project GP Ltd British Columbia — CAD — — — — — 71% EDP Renewables SH II Project LP Alberta — CAD — — — — — 71% Sounding Creek Solar Park GP Ltd. British Columbia — CAD — — — — — 71% Sounding Creek Solar Park LP Alberta — CAD — — — — — 71% Edgeware BESS Project GP Ltd. British Columbia — CAD — — — — — 71% Edgeware BESS Project LP Ontario — CAD — 6 -6 — -1 36% South Branch BESS Project GP Ltd. Ontario — CAD — — — — — 71% South Branch BESS Project Limited Partnership Ontario — CAD — — — — — 71% Gateway Battery Energy Storage System Inc. Toronto — CAD — — — — — 71% Mexico Eólica de Coahuila, S.A. de C.V. Mexico City 7,792,042 USD 223,449 171,340 52,109 45,330 23,175 36% Vientos de Coahuila, S.A. de C.V. Mexico City 145,594,263 USD 164,180 43,277 120,903 10,082 3,660 71% EDPR Servicios de México, S. de R.L. de C.V. Mexico City 145,907,722 MXN 6,523 1,031 5,492 2,516 346 71% Parque Solar Los Cuervos, S. de R.L. de C.V. Mexico City 180,244,480 USD 216,225 46,915 169,310 10,245 448 71% Asia-Pacific Vietnam EDP Renewables Vietnam Company Limited Ho Chi Minh City 7,200,000,000 VND 4,000 6,696 -2,696 — -1,168 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 487
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Trung Son Energy Development LLC Khanh Hoa Province 197,000,000,000 VND 18,325 14,525 3,800 2,066 -2,008 71% Trung Son SG Pte. Ltd. Singapore 14,374,707 USD 11,406 17 11,389 — -22 71% LYS Energy Investment Pte. Ltd. Singapore 13,324,707 USD 9,043 16 9,027 — -21 71% Sunseap CMX RE Solar Holdings Pte. Ltd. Singapore 13,145,766 SGD 23,202 115 23,087 — -82 71% Sunseap Links Pte. Ltd. Singapore 10 SGD 6,150 11,822 -5,672 — -310 57% Sunseap Links Daklong Pte. Ltd. Singapore 40 SGD 538 7,070 -6,532 — -214 68% CMX RE Sunseap Vietnam Solar Power Co., Ltd. Ninh Thuan Province 1,065,557,560,000 VND 105,958 62,213 43,745 17,876 -5,810 39% Uper Renewable Energy Vietnam Co., Ltd. Ho Chi Minh City 2,310,000,000 VND 124 1 123 — -2 71% Xuan Thien Ninh Thuan Co., Ltd. Ninh Thuan Province 890,000,000,000 VND 81,550 46,880 34,670 18,547 -3,671 71% Xuan Thien Thuan Bac Co., Ltd. Ninh Thuan Province 550,000,000,000 VND 50,959 30,161 20,798 11,101 -2,233 71% Singapore Sunseap Energy Ventures Pte. Ltd. Singapore 1 SGD 5,014 2,288 2,726 374 -38 71% Solarland Alpha Assets Pte. Ltd. Singapore 5,654,467 SGD 69,426 81,240 -11,814 4,174 -2,328 71% Data4Eco Holdings Pte. Ltd. Singapore 50,000 SGD — 163 -163 — -60 43% Indonesia Sunseap Indonesia Pte. Ltd. Singapore 1,736,619 SGD 1,048 67 981 — -66 71% PT Sunseap Commercial Industrial Indonesia Asset Jakarta 10,000,000,000 IDR 220 5 215 3 -73 71% PT Right People Renewable Energy Jakarta 12,106,199,154 IDR 37 5 32 — -14 71% Australia Punchs Creek FinCo Pty Ltd Canberra 100 AUD — — — — — 71% Punchs Creek Renewable Holding Pty Ltd Canberra — AUD — — — — — 71% Punchs Creek Renewable Holding Trust Canberra 5,760,100 AUD 3,276 1 3,275 — -1 71% Punchs Creek Renewable Project Pty Ltd Canberra — AUD — — — — — 71% Punchs Creek Renewable Project Trust Canberra 5,760,100 AUD 6,958 3,737 3,221 — -56 71% Sunseap Australia Holdings Pte. Ltd. Singapore 98,697,135 SGD 67,403 4,649 62,754 — -89 71% Energy Democracy Management Pty. Ltd. Canberra — AUD — — — — — 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 488
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Yoogali Solar Farm Pty. Ltd. Canberra — AUD — — — — — 71% Merino Solar Farm Trust Canberra — AUD — — — — — 71% Orange Community Renewable Energy Park Pty. Ltd. Canberra 11,260,100 AUD 6,925 612 6,313 — -9 63% Orange Community Renewable Energy Park Trust Canberra — AUD — — — — — 63% EDPR Australia Investments Pty. Ltd. Canberra 53,540,000 AUD 27,271 2,982 24,289 — -639 71% Sunseap (Australia) Pty. Ltd. Canberra 1 AUD 3 733 -730 — -23 71% Sunseap Assets (Australia) Pty. Ltd. Canberra 45,110,000 AUD 27,069 1,341 25,728 — 86 71% EDPR Australia Pty. Ltd. Canberra 31,001,000 AUD 15,430 6,962 8,468 1,222 -4,015 71% EDPR DevCo Pty. Ltd. Canberra 2,420,500 AUD 1,255 55 1,200 — -42 71% Merino Solar Farm Pty. Ltd. Canberra 3,700,100 AUD 2,889 879 2,010 — -77 71% Punch’s Creek Renewable Energy Pty. Ltd. Canberra 3,661,200 AUD 1,772 2 1,770 — -2 71% Other Countries Sunseap Japan Pte. Ltd. Singapore 9,770,277 SGD 6,059 62 5,997 — -60 71% Japan Tk Investment Pte. Ltd. Singapore 1 SGD — 53 -53 — -52 71% Godo Kaisha NW-3 Tokyo 100,000 JPY 79,059 50,987 28,072 1,880 328 71% Miyagi Motoyoshi Solar GK Tokyo 100,000 JPY 24,443 9,800 14,643 — 1,640 71% EDPR Japan Co., Ltd. Tokyo 204,970,000 JPY 9,423 15,448 -6,025 558 -2,626 71% EDPR Korea, Ltd. Sejong-daero 6,800,000,000 KRW 392 411 -19 — -434 71% EDPR Sunseap Korea Holdings Pte. Ltd. Singapore 9,695,917 SGD 1,416 243 1,173 — -5,109 71% Songbo Energy Co., Ltd. Taipei City 100,000 TWD 1,141 4,116 -2,975 — -320 71% Convencional generation Iberia and Rest of Europe Portugal Greenvouga - Sociedade Gestora do Aproveitamento Hidroeléctrico de Ribeiradio- Ermida,S.A. Lisbon 115,370,603 EUR 187,015 9,885 177,130 10,875 4,357 100% Empresa Hidroeléctrica do Guadiana, S.A. Lisbon 113,763,680 EUR 382,562 163,087 219,475 53,068 12,997 100% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 489
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CEL Energy - Central Elétrica de Lares, S.A. Lisbon 6,176,245 EUR 132,582 111,656 20,926 48,437 15,307 100% 98% RJCE Energy - Central Elétrica de Ribatejo, S.A. Lisbon 7,311,895 EUR 139,266 123,119 16,147 39,205 9,750 100% 99% TERGEN - Operação e Manutenção de Centrais Termoeléctricas, S.A. Carregado 50,000 EUR 2,188 187 2,001 275 260 100% FISIGEN - Empresa de Cogeração, S.A. Lisbon 50,000 EUR 2,277 1,804 473 2,747 -6,848 51% EDP Gestão Produção Energia, S.A. Lisbon 436,155,055 EUR 3,258,332 2,629,712 628,620 499,519 80,603 100% 100% Spain IBERENERGIA, SAU Oviedo 60,200 EUR 206,182 95,362 110,820 81,290 11,706 100% Central Termica Ciclo Combinado Grupo 4, S.L. Oviedo 2,117,000 EUR 428,706 123,471 305,235 322,256 43,735 100% Central Térmica Soto 3, S.L.U Oviedo 5,000,000 EUR 94,285 70,844 23,441 58,714 -3,140 100% Generaciones Eléctricas Andalucía, S.L.U. Oviedo 25,000,000 EUR 158,693 99,189 59,504 10,200 -2,015 100% Biomasa Puente Nuevo S.L.U. Oviedo 3,000 EUR 43 250 -207 — -61 100% EDP España, S.A.U. Oviedo 421,739,790 EUR 2,704,119 408,322 2,295,797 712,349 -12,499 100% 100% South America Brazil Enerpeixe, S.A. Tocantins 224,455,168 BRL 268,959 175,396 93,563 71,283 -5,232 60% Investco, S.A. Tocantins 804,458,843 BRL 208,287 57,347 150,940 25,006 11,828 41% Lajeado Energia, S.A. São Paulo 6,867,541 BRL 202,310 95,237 107,073 119,516 59,692 56% Resende Engenharia e Assessoria, Ltda. São Paulo 21,651,698 BRL 3,294 2 3,292 — -3 100% Energy management Iberia and Rest of Europe Portugal EDP GEM Portugal, S.A. Lisbon 800,050,000 EUR 3,059,281 1,502,276 1,557,005 4,115,737 375,379 100% 100% Spain Transporte GNL, S.A. Bilbao 1,000,000 EUR 81,375 43,454 37,921 34,128 2,661 100% EDP GEM España, S.A. Oviedo 1,000,000 EUR 1,232 8 1,224 — 20 100% South America Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 490
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Brazil EDP Trading Comercialização e Serviços de Energia, S.A. São Paulo 586,679,595 BRL 943,253 778,010 165,243 665,032 30,021 100% Client Solutions Liberalised Market Iberia and Rest of Europe Portugal EDP Energia Ibérica, S.A. Oviedo 60,200 EUR 1,799 14,748 -12,949 — -22 100% EDP Comercial - Comercialização de Energia, S.A. Lisbon 64,500,005 EUR 1,677,190 1,481,921 195,269 3,567,532 108,273 100% 100% EDP Energia Crato Trevões, S.A. Lisbon 50,000 EUR 13,892 14,706 -814 102 -606 100% Effizency, S.A. Lisbon 162,509 EUR 7,372 994 6,378 2,752 428 76% Spain Comercializadora Energética Sostenible, S.A. Bilbao 60,000 EUR 3,191 3,037 154 165 20 100% EDP Clientes, S.A. Oviedo 1,000,000 EUR 484,685 431,109 53,576 1,102,481 -6,316 100% EDP Solar España, S.A. Oviedo 1,000,000 EUR 9,096 3,533 5,563 13,618 -10,599 100% Azul y Verde Energía y Sostenibilidad, S.L. Cordoba 3,000 EUR 138 136 2 277 -130 100% Leuk Soluciones Energéticas, S.L. Cordoba 3,000 EUR 1,632 1,584 48 1,958 -694 100% Other Countries EDP Energia Italia S.R.L. Milan 78,526,502 EUR 92,843 16,799 76,044 11,739 -17,493 100% EDP Energie France Paris 1,279,000 EUR 547 843 -296 56 -703 100% Enerdeal Group S.A. Brussels 100 EUR 19,367 17,151 2,216 — -14 100% Enerdeal NV Nossegem 162 EUR 19,319 12,528 6,791 21,471 2,238 100% Enerdeal Solar invest SA Brussels 149 EUR 1,236 1,038 198 341 33 100% Smart Energy Invest II SA Mont-Saint-Guibert 90 EUR 750 724 26 184 -22 60% Neopark SA Charleroi 100 EUR 1,888 1,820 68 39 -21 51% EDP Energia Polska Warsaw 573,296,100 PLN 119,940 25,825 94,115 42,777 -7,791 100% SOON Energy Polska sp z.o.o. Warsaw 108,812,000 PLN 20,819 1,575 19,244 12,260 -6,508 100% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 491
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EDP Energie Deutschland GmbH Frankfurt am Main 25,000 EUR 5,433 6,046 -613 — -720 100% EDP Energie Deutschland Verwaltungs GmbH Munich 25,000 EUR 81 48 33 57 10 100% EDPED Solar Invest 1 GmbH & Co KG Munich 1,000 EUR 1,755 1,763 -8 — -8 100% EDPED Solar Invest 2 GmbH & Co KG Munich 1,000 EUR 1,071 1,079 -8 — -9 100% Enerdeal Lux Sarl Windhof 12 EUR 6,116 5,518 598 14,721 87 100% Enerdeal Solar Invest II SA Brussels 825 EUR 6,600 6,372 228 341 -329 100% Enerdeal Solar Luxembourg Sarl Windhof 100 EUR 11,721 9,933 1,788 203 -362 100% South America Brazil Campo Mourão I, II e III Geração Distribuída SPE Ltda. Paraná 14,576,451 BRL 1,912 6 1,906 — -440 100% EDP Smart SPE 16 Ltda. São Paulo — BRL 1,444 1,505 -61 28 -118 100% Campo Grande I Geração Distribuída SPE Ltda. Mato Grosso do Sul 6,712,579 BRL 878 5 873 — -287 100% Barra do Choça IV, V e VI Geração Distribuída Ltda. Bahia 7,842,345 BRL 1,068 1 1,067 — -187 100% Brumado II e III Geração Distribuída SPE Ltda. Bahia 9,543,292 BRL 1,314 1 1,313 — -197 100% Pontes Lacerda Geração Distribuída SPE Ltda. Mato Grosso 33,727,563 BRL 4,560 1 4,559 — -721 100% EDP Smart SPE 14 Ltda. São Paulo — BRL 52 1 51 — -7 100% EDP Smart SPE 15 Ltda. São Paulo — BRL 47 — 47 — -8 100% Brumado I Geração Distribuída SPE Ltda. Bahia 6,376,461 BRL 835 24 811 — -249 100% Rondon I, II e III Geração Distribuída SPE Ltda. Paraná 15,237,179 BRL 1,929 6 1,923 — -573 100% Iporã I Geração Distribuída SPE Ltda. Paraná 5,536,922 BRL 730 6 724 — -221 100% EDP Smart Energia, Ltda São Paulo 54,704,068 BRL 256,501 244,471 12,030 180,150 -872 100% Cassilândia I Geração Distribuída SPE Ltda. Mato Grosso do Sul 16,105,135 BRL 1,992 7 1,985 — -756 100% EDP Smart Soluções, S.A. Rio Grande do Sul 79,072,773 BRL 7,630 3,476 4,154 3,276 551 100% EDP Smart Serviços, S.A. Espírito Santo 1,667,675,515 BRL 250,755 19,021 231,734 27,989 -23,886 100% EDP Smart SPE V Ltda. São Paulo 122,852,838 BRL 52,590 38,493 14,097 2,700 -12,184 100% EDP Smart SPE Ltda. São Paulo 143,091,252 BRL 24,805 2,167 22,638 2,919 -145 100% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 492
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Nova Geração Solar LTDA. São Paulo 2,538,124 BRL 4 2 2 — — 100% Energia Solar I SPE LTDA. Espírito Santo 1,203,819 BRL 3 2 1 — — 100% Energia Solar II SPE LTDA. Espírito Santo — BRL — — — — — 100% EDP SMART SPE 1 LTDA. São Paulo 90,950,056 BRL 22,467 5,630 16,837 4,869 -1,092 100% EDP SMART SPE 2 LTDA. São Paulo 25,585,717 BRL 5,259 1,040 4,219 1,196 91 100% EDP SMART SPE 3 LTDA. São Paulo 19,967,376 BRL 6,106 3,564 2,542 846 -726 100% EDP SMART SPE 4 LTDA. São Paulo 46,494,364 BRL 18,358 10,403 7,955 3,752 -728 100% EDP SMART SPE 5 LTDA. São Paulo 2,873,521 BRL 6,733 6,959 -226 843 -678 100% EDP SMART SPE 6 LTDA. São Paulo 5,260,126 BRL 11,790 12,387 -597 1,024 -1,530 100% EDP SMART SPE 7 LTDA. São Paulo 19,333,802 BRL 6,242 3,754 2,488 976 -699 100% EDP SMART SPE 8 LTDA. São Paulo 5,184,271 BRL 1,877 1,260 617 119 -354 100% EDP SMART SPE 9 LTDA. São Paulo 46,307,198 BRL 31,722 28,473 3,249 2,133 -4,752 100% EDP SMART SPE 10 LTDA. São Paulo 420,184 BRL 820 868 -48 59 -192 100% EDP SMART SPE 11 LTDA. São Paulo 11,314,395 BRL 1,674 79 1,595 100 -287 100% EDP SMART SPE 12 LTDA. São Paulo 425,611 BRL 60 11 49 — -36 100% EDP SMART SPE 13 LTDA. São Paulo 1,024,880 BRL 4,434 4,684 -250 1 -564 100% Distributed Solar Generation North-America United States of America EDPRNA DG Illinois Development LLC Delaware 595,977 USD 59 19 40 — -74 71% EDPRNA DG Wisconsin Development LLC Delaware 177,836 USD — — — — -44 71% EDPRNA DG New York Development LLC Delaware 662,520 USD 166 20 146 — -19 71% EDPRNA DG Mississippi Development LLC Delaware 155,838 USD — 5 -5 — -2 71% EDPRNA DG Missouri Development LLC Delaware 30,743 USD — — — — -2 71% EDPRNA DG Ohio Development LLC Delaware 5,488,845 USD 2,807 74 2,733 — -622 71% EDPRNA DG Texas Development LLC Delaware 214,700 USD — — — — -40 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 493
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EDPRNA DG Georgia Development LLC Delaware 286,711 USD — 3 -3 — -27 71% EDPRNA DG California Development LLC Delaware 636,640 USD 186 48 138 — -77 71% EDPRNA DG Indiana Development LLC Delaware 149,840 USD — — — — -26 71% EDPRNA DG Pennsylvania Development LLC Delaware 224,440 USD 2 — 2 — -23 71% EDPRNA DG Michigan Development LLC Delaware 116,265 USD — — — — -20 71% EDPRNA DG Maryland Development LLC Delaware 1,541,620 USD 1,254 33 1,221 — -88 71% EDPRNA DG Virginia Development LLC Delaware 76,805 USD — 5 -5 — -21 71% EDPRNA DG CA Livermore LLC Delaware 6,723,791 USD 6,018 227 5,791 296 88 71% Generate USF La Mirada LLC Delaware — USD — — — — — 71% Generate USF McClellan LLC Delaware 4,606,155 USD 3,976 167 3,809 91 -96 71% EDPRNA DG Manassas LLC Delaware 7,966,481 USD 7,304 434 6,870 361 88 71% Generate USF Las Vegas LLC Delaware 2,681,691 USD 2,371 121 2,250 46 -31 71% Generate USF N Las Vegas LLC Delaware 3,716,035 USD 3,304 209 3,095 106 -68 71% EDPRNA DG PA Mechanicsburg LLC Delaware 126,838 USD 115 8 107 — — 71% Soteria Solar Services LLC Delaware 957,770 USD 14 10 4 — -138 71% EDPRNA DG O&M Services LLC Delaware -13,766 USD — — — — -2 71% C2 Alpha Holdings LLC Delaware 77,453 USD — — — — — 71% EDPRNA DG MA Managing Member LLC Delaware 20,851,314 USD 17,742 — 17,742 — — 71% EDPRNA DG Bobcat Holdings LLC Delaware 72,997,087 USD 62,123 — 62,123 — — 71% 2021 DG CA Agora Ventures I LLC Delaware — USD — — — — — 71% C2 WM Phase 3 Sponsor LLC Delaware 4,315 USD 2 — 2 — — 71% C2 WM Phase 3 Holdings LLC Delaware 2,156 USD — — — — — 71% EDPRNA DG Lessee Holdings LLC Delaware 2,485 USD — — — — — 71% C2 NY Brookhaven LLC Delaware 8,157,313 USD 7,243 822 6,421 368 20 71% EDPRNA DG CI Sponsor 2 LLC Delaware 4,435 USD 2 — 2 — — 71% C2 CI Holdings 2 LLC Delaware 2,276 USD — — — — — 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 494
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EDPRNA DG WM 2020 Parent LLC Delaware 4,054 USD 2 — 2 — — 71% C2 WM 2020 Holdings LLC Delaware 2,732 USD — — — — — 71% NY CSG 2 Sponsor LLC Delaware 27,055,312 USD 23,015 — 23,015 — -2 71% NY CSG 2 Holdings LLC Delaware 27,043,197 USD 27,513 -61 27,574 — -89 71% East River Solar LLC Delaware 5,641,289 USD 5,410 908 4,502 184 -120 71% Cortland-Virgil Road Solar LLC Delaware 6,771,208 USD 5,853 932 4,921 177 -98 71% Lime Hollow Solar LLC Delaware 6,952,790 USD 5,727 922 4,805 130 -228 71% McLean Solar 2 LLC Delaware 5,769,147 USD 5,324 934 4,390 287 -6 71% Route 13 Solar LLC Delaware 7,070,794 USD 5,940 1,004 4,936 142 -124 71% EDPRNA DG CT Fund 1 MM LLC Delaware 30,625,166 USD 26,057 25 26,032 — 2,051 71% C2 CT Fund 1 Holding LLC Delaware 30,541,456 USD 37,387 -941 38,328 — -58 71% C2 WM Arizona 1 LLC Delaware 887,780 USD 775 83 692 52 -25 71% C2 WM Arizona 2 LLC Delaware 1,443,356 USD 1,228 116 1,112 84 -53 71% C2 WM Arizona 3 LLC Delaware 2,168,209 USD 1,779 165 1,614 121 -57 71% C2 WM Arizona 4 LLC Delaware 1,686,796 USD 1,428 138 1,290 97 -31 71% C2 WM Arizona 5 LLC Delaware 1,409,813 USD 1,191 116 1,075 76 -39 71% C2 WM Arizona 6 LLC Delaware 1,810,319 USD 1,511 141 1,370 103 -57 71% C2 WM Arizona 7 LLC Delaware 2,529,840 USD 1,767 175 1,592 123 -37 71% C2 WM Arizona 8 LLC Delaware 1,942,869 USD 1,679 164 1,515 113 -35 71% C2 WM Arizona 9 LLC Delaware 1,882,180 USD 1,585 154 1,431 106 -76 71% C2 WM Arizona 10 LLC Delaware 684,625 USD 586 56 530 41 -15 71% C2 WM Laurens Leasing LLC Delaware 2,286,423 USD 2,598 820 1,778 77 -20 71% C2 WM New Jersey 1 LLC Delaware 4,735,176 USD 4,228 284 3,944 286 -248 71% C2 RI Hopkinton LLC Delaware 2,798,510 USD 2,538 406 2,132 163 -61 71% Blissville Road LLC Delaware 1,920,787 USD 1,686 103 1,583 131 -8 71% Route 149 LLC Delaware 2,226,387 USD 1,941 177 1,764 151 -25 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 495
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Shields Drive LLC Delaware 2,229,205 USD 1,854 166 1,688 98 -83 71% Upper Road LLC Delaware 2,017,369 USD 1,855 163 1,692 137 -18 71% C2 Woodbury Solar LLC Delaware 9,243,845 USD 7,835 — 7,835 — -6 71% MN CSG 2 LLC Delaware 9,206,186 USD 7,449 508 6,941 420 -251 71% EDPRNA DG WM DSA Sponsor LLC Delaware -2,734,093 USD 4,339 7,374 -3,035 — -294 71% EDPRNA DG Centrica MT LLC Delaware 3,415,892 USD 14,670 977 13,693 — -6 71% EDPRNA DG WM DSA Holdings LLC Delaware -4,294,875 USD 11,216 14,833 -3,617 — -16 71% EDPRNA DG WM Arizona 1549 LLC Delaware 792,766 USD 1,098 185 913 137 46 71% EDPRNA DG WM Arizona 2112 LLC Delaware 627,005 USD 759 117 642 89 7 71% EDPRNA DG WM Arizona 3360 LLC Delaware 645,259 USD 788 132 656 91 13 71% C2 WM Arizona 3465 LLC Delaware 519,105 USD 829 154 675 111 38 71% EDPRNA DG WM Arizona 3799 LLC Delaware 965,265 USD 1,147 181 966 123 29 71% EDPRNA DG WM Arizona 3833 LLC Delaware 964,339 USD 1,148 181 967 125 13 71% EDPRNA DG WM Arizona 3861 LLC Delaware 939,809 USD 1,129 179 950 122 29 71% C2 WM Arizona 4451 LLC Delaware 702,889 USD 968 181 787 119 35 71% EDPRNA DG WM California 1789 LLC Delaware 473,542 USD 636 97 539 89 25 71% EDPRNA DG WM California 1988 LLC Delaware 418,652 USD 429 66 363 20 -34 71% EDPRNA DG WM California 4202 LLC Delaware 325,827 USD 278 36 242 9 -27 71% C2 WM California 4317 LLC Delaware 1,119,842 USD 955 78 877 49 -62 71% EDPRNA DG WM California 5890 LLC Delaware 628,974 USD 548 67 481 17 -44 71% EDPRNA DG WM Illinois 253 LLC Delaware 490,612 USD 1,038 184 854 102 -28 71% EDPRNA DG WM Illinois 612 LLC Delaware 390,528 USD 624 113 511 88 -20 71% EDPRNA DG WM Illinois 891 LLC Delaware 300,310 USD 876 164 712 97 -12 71% EDPRNA DG WM Illinois 1404 LLC Delaware 429,704 USD 899 159 740 92 -16 71% EDPRNA DG WM Illinois 1489 LLC Delaware 399,085 USD 681 130 551 61 -28 71% EDPRNA DG WM Illinois 1548 LLC Delaware 437,536 USD 561 101 460 73 -17 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 496
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EDPRNA DG WM Illinois 1553 LLC Delaware 317,082 USD 696 136 560 71 -36 71% EDPRNA DG WM Illinois 1761 LLC Delaware 511,188 USD 732 129 603 57 -47 71% EDPRNA DG WM Illinois 1848 LLC Delaware 193,820 USD 663 127 536 86 -18 71% EDPRNA DG WM Illinois 1933 LLC Delaware 285,545 USD 715 128 587 80 -6 71% EDPRNA DG WM Illinois 2215 LLC Delaware 304,638 USD 791 156 635 95 -8 71% EDPRNA DG WM Illinois 2491 LLC Delaware 460,399 USD 1,054 196 858 126 -42 71% EDPRNA DG WM Illinois 5442 LLC Delaware 319,786 USD 569 104 465 50 -25 71% EDPRNA DG WM Louisiana 87 LLC Delaware 454,984 USD 476 62 414 48 4 71% C2 WM Louisiana 309 LLC Delaware — USD — — — — — 71% C2 WM Louisiana 539 LLC Delaware 884,224 USD 773 58 715 50 -20 71% EDPRNA DG Energy Holdings Inc. Delaware 87,881 USD — — — — -2 71% EDPRNA DG Energy Development LLC Delaware 207,520,901 USD 179,569 5,941 173,628 — -106 71% C2 MN Hopkins LLC Delaware 3,807,588 USD 3,294 254 3,040 121 -19 71% C2 NC Kitty Hawk LLC Delaware — USD — — — — — 71% C2 NJ Andover I LLC Delaware -383,626 USD 1,817 1,179 638 294 -48 71% C2 NY Sentinel Heights Solar LLC Delaware 7,293,781 USD 8,028 1,721 6,307 520 145 71% C2 OH New Lebanon LLC Delaware — USD — — — — — 71% C2 OH Otsego II LLC Delaware -134,914 USD 2,138 1,418 720 246 -136 71% C2 SH 2019 LLC Delaware 2,466 USD — — — — — 71% EDPR NA DG MN YMCA LLC Delaware 3,574,514 USD 3,035 54 2,981 19 -7 71% CA Marinwood Solar LLC Delaware 13,911 USD — — — — -2 71% CA Olde Thompson Solar LLC Delaware -447,768 USD 817 1,215 -398 57 -7 71% MidCoast C2 Solar LLC Delaware — USD — — — — — 71% NY Hemlock Hills Solar LLC Delaware 3,714,200 USD 3,040 — 3,040 -219 -238 71% NY Mines Press Solar LLC Delaware 3,318,350 USD 6,355 3,910 2,445 307 -107 71% NY Morgan Solar LLC Delaware 21,880,292 USD 18,628 — 18,628 — -6 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 497
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NY OG 1 Solar LLC Delaware 2,306 USD — — — — — 71% Omega CSG 1 LLC Delaware -2,170,656 USD 10 — 10 — — 71% Penn Yan Solar I LLC Delaware 6,863,179 USD 8,382 2,126 6,256 678 235 71% RI Abrava Solar LLC Delaware 6,426,729 USD 6,940 1,415 5,525 397 88 71% Strawberry Solar Farm LLC Delaware 3,621,206 USD 3,524 345 3,179 174 22 71% VT Stone Valley LLC Delaware 2,294 USD — — — — — 71% C2 WM Holdings LLC Delaware 91,717 USD 70 — 70 — -2 71% C2 WM Arizona Holdings LLC Delaware 3,033 USD — — — — — 71% C2 WM California Holdings LLC Delaware 5,777 USD — — — — — 71% C2 WM Illinois Holdings LLC Delaware 43,177 USD — — — — -2 71% C2 WM Louisiana Holdings LLC Delaware — USD — — — — — 71% C2 WM Maryland Holdings LLC Delaware 2,857 USD — — — — — 71% C2 WM New Jersey Holdings LLC Delaware 27,124 USD — — — — — 71% C2 WM Regent Dev Holdings 2020 LLC Delaware 2,002 USD — — — — — 71% EDPRNA DG WM Arizona 1512, LLC Delaware 4,143,286 USD 3,519 78 3,441 67 -67 71% C2 WM Arizona 5768 LLC Delaware — USD — — — — — 71% C2 WM Maryland 1715 LLC Delaware 693,827 USD 705 77 628 70 6 71% C2 WM Maryland 2436 LLC Delaware 931,113 USD 951 115 836 93 16 71% C2 WM New Jersey 1807 LLC Delaware 530,861 USD 444 — 444 — -1 71% C2 WM New Jersey 1844 LLC Delaware — USD — — — — — 71% C2 WM New Jersey 1869 LLC Delaware — USD — — — — — 71% C2 WM New Jersey 1977 LLC Delaware — USD — — — — — 71% C2 WM New Jersey 2195 LLC Delaware 675,770 USD 880 115 765 138 38 71% C2 WM New Jersey 3795 LLC Delaware 1,087,241 USD 1,070 130 940 42 -79 71% EDPRNA DG Rho LLC Delaware 41,709,191 USD 70,466 22,042 48,424 2,274 1,155 71% EDPRNA DG-REA Solar LLC Delaware 9,637,829 USD 8,035 -156 8,191 — -3 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 498
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EDPRNA DG CA 2016 Holdings LLC Delaware 1,571,658 USD 1,310 11 1,299 — -2 71% REA-EDPRNA DG 2016 Lessee LLC Delaware 7,868,677 USD 5,035 20 5,015 — -368 71% Camden PV Solar LLC Delaware 5,915,600 USD 5,030 276 4,754 661 100 71% C2 MA Managing Member II LLC Delaware 2,829,883 USD 2,302 -92 2,394 — -2 71% C2 MA FKW Holdings LLC Delaware 2,704,986 USD 1,844 410 1,434 — -181 71% RevEnergy C2 Franklin LLC Delaware 1,336,182 USD 1,446 225 1,221 172 -28 71% C2 MA Kelly Way Solar LLC Delaware 829,644 USD 869 90 779 131 20 71% EDPRNA DG MA Lakeville Sponsor LLC Delaware 7,519,308 USD 6,391 — 6,391 — -2 71% C2 MA Lakeville Holdings LLC Delaware 7,508,859 USD 5,929 4 5,925 — -161 71% C2 MA Lakeville LLC Delaware 6,950,383 USD 6,205 484 5,721 663 -142 71% EDPRNA DG MA Depcom Sponsor LLC Delaware 2,697,188 USD 2,290 — 2,290 — -2 71% C2 MA DEPCOM 2017 LLC Delaware 2,690,887 USD 786 -437 1,223 — -785 71% C2 MA Adams II LLC Delaware 429,018 USD 3,035 2,295 740 445 132 71% C2 MA New Salem LLC Delaware 425,769 USD 2,136 1,536 600 231 -2 71% C2 MA Dudley II LLC Delaware -189,493 USD 1,392 1,700 -308 — -2 71% Norton Solar I LLC Delaware 756,177 USD 1,354 96 1,258 259 103 71% Norton Solar II LLC Delaware 879,179 USD 1,340 96 1,244 254 111 71% EDPRNA DG Starratt Sponsor LLC Delaware 19,742,942 USD 16,797 — 16,797 — -2 71% C2 CB 2017 Holdings LLC Delaware 19,736,501 USD 15,362 -921 16,283 — -13 71% EDPRNA DG Scripps 1 LLC Delaware 1,539,166 USD 1,747 898 849 89 -98 71% C2 Scripps 3 LLC Delaware 1,001,563 USD 1,059 505 554 51 -64 71% C2 Scripps 4 LLC Delaware 1,398,268 USD 1,597 727 870 84 -72 71% C2 Starratt Solar LLC Delaware 12,604,506 USD 10,263 1,028 9,235 625 -348 71% C2 WM Greenwood Leasing LLC Delaware 932,749 USD 932 190 742 48 -25 71% C2 WM Powdersville Leasing LLC Delaware 967,613 USD 822 139 683 32 -45 71% C2 WM Simpsonville Leasing LLC Delaware 1,144,266 USD 1,137 314 823 69 -76 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 499
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EDPRNA DG MA Owner LLC Delaware 20,846,696 USD 17,339 -392 17,731 — -5 71% EDPRNA DG MA Adams I Holdings LLC Delaware 12,410,128 USD 8,395 -6 8,401 — -216 71% EDPRNA DG MA Adams I LLC Delaware 9,864,387 USD 7,850 545 7,305 737 -1,028 71% EDPRNA DG MA Swansea Holdings LLC Delaware 6,079,536 USD 3,233 559 2,674 — -586 71% EDPRNA DG MA Swansea LLC Delaware 3,795,990 USD 5,518 741 4,777 914 322 71% EDPRNA DG MA 2016 Holdings LLC Delaware 1,883,818 USD 1,292 2 1,290 — -80 71% RS Holyoke 3 LLC Delaware 1,516,908 USD 1,334 178 1,156 149 -28 71% EDPRNA DG Franklin LLC Delaware 4,059,951 USD 3,445 — 3,445 — -2 71% EDPRNA DG Gamma Holdings LLC Delaware 4,048,220 USD 3,448 — 3,448 30 29 71% EDPRNA DG Morin LLC Delaware 2,734,009 USD 1,474 109 1,365 — -162 71% SLX Project 1080 LLC Delaware 1,317,562 USD 1,212 197 1,015 153 -69 71% EDPRNA DG WM Leasing LLC Delaware 3,423,541 USD 2,862 -46 2,908 — -2 71% EDPRNA DG WM Phase 1 Holdings LLC Delaware 3,362,450 USD 2,683 1 2,682 — -2 71% EDPRNA DG WM Chester Leasing LLC Delaware 558,714 USD 477 78 399 19 -19 71% EDPRNA DG WM Indian Land Leasing LLC Delaware 1,042,842 USD 904 167 737 39 -46 71% EDPRNA DG WM Lake Wylie Leasing LLC Delaware 1,093,156 USD 950 174 776 39 -50 71% EDPRNA DG WM Pickens Leasing LLC Delaware 456,314 USD 414 86 328 16 -31 71% EDPRNA DG Bristol I LLC Delaware 11,689,337 USD 10,395 531 9,864 468 55 71% EDPRNA DG YMCA II LLC Delaware 3,120 USD — — — — -2 71% EDPRNA DG Zephyr Ventures LLC Delaware 1,382,853 USD 12,946 11,413 1,533 — 151 71% RI Sposato Solar LLC Delaware 170,141 USD 1,471 1,314 157 95 3 71% C2 Bristol II LLC Delaware 3,213,791 USD 2,684 2 2,682 — -3 71% C2 Omega Holding Company LLC Delaware 20,168 USD — — — — — 71% Camden PV PSEG Solar LLC Delaware 117,159 USD — — — — — 71% EDPR NA DG MN SLP LLC Delaware 6,321 USD — — — — -2 71% ME Dover Foxcroft Solar LLC Delaware 2,212,692 USD 1,860 — 1,860 — -2 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 500
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ME Ellsworth Solar LLC Delaware 7,101 USD — — — — -1 71% ME Rocky Hill Solar LLC Delaware 4,340,980 USD 5,279 1,601 3,678 — -13 71% ME Sandy Hill Solar LLC Delaware 1,334,007 USD 1,130 1 1,129 — -2 71% NH Hinsdale Solar LLC Delaware — USD — — — — — 71% CA Gettysburg Solar Farm LLC Delaware 11,333,919 USD 9,727 201 9,526 — -42 71% CA Syracuse Solar LLC Delaware — USD — — — — — 71% CA Tours Solar LLC Delaware — USD — — — — — 71% EDPRNA DG Wren Holdings LLC Delaware 6,717,100 USD 5,710 — 5,710 — -3 71% EDPRNA DG Wren Ventures LLC Delaware 6,709,728 USD 19,252 13,163 6,089 — 33 71% NC Loy Farm Solar LLC Delaware — USD — — — — — 71% EDPRNA DG Oriole Holdings LLC Delaware 39,752,570 USD 33,830 — 33,830 — -2 71% RSBF Jeffco II LLC Delaware 1,684,455 USD 1,351 150 1,201 213 -63 71% 2021 DG Agora Ventures I LLC Delaware 14,271,303 USD 59,975 45,366 14,609 — 889 71% 2021 DG Agora Holdings LLC Delaware 14,282,692 USD 12,146 — 12,146 — -2 71% DC Michigan Solar LLC Delaware — USD — — — — — 71% EDPR NA Distributed Generation LLC Delaware 217,073,727 USD 536,528 361,945 174,583 103 -13,011 71% ME New Vineyard Solar LLC Delaware — USD — — — — — 71% Creed Road Solar 1 LLC Delaware — USD — — — — — 71% German Community Solar LLC Delaware 7,895,171 USD 9,437 2,647 6,790 579 111 71% North Coast Highway Solar 1 LLC Delaware 3,986,968 USD 3,319 7 3,312 — -15 71% North Coast Highway Solar 2 LLC Delaware 3,474,876 USD 2,886 7 2,879 — -14 71% Piscataquis Valley Solar LLC Delaware 2,185,371 USD 1,853 2 1,851 — 2 71% Potsdam Community Solar LLC Delaware 4,731,667 USD 7,366 2,877 4,489 620 216 71% EDPRNA DG Zephyr Holdings LLC Delaware 1,435,391 USD 1,208 — 1,208 — -2 71% RI- Moo Cow Delaware 8,595,374 USD 7,319 6 7,313 — 2 71% EDPRNA DG WM Illinois 1998 LLC Delaware — USD — — — — — 71% Subsidiaries Head Office Share capital Currency Assets Euro'000 Liabilities Euro'000 Equity Euro'000 Revenues Euro'000 Net Profit/ (Loss) Euro'000 % Group % EDP S.A. EDP Integrated Annual Report 2025 Financial Statements and Notes Index 501