Equatorial Energia S/Adr

Boa tarde a todos. Sejam bem-vindos à conferência de resultados do Grupo Equatorial referente ao segundo trimestre de 2026. Estão presentes o CEO da companhia, Sr. Augusto Miranda, o vice-presidente, Sr. Leonardo Lucas, o diretor de regulação, Sr. Cristiano Logrado, Diretora de Estratégia IRI Tatiana Vazquez e o Sr. Lio Aquino, Presidente da Ecoenergia que ao final estarão à disposição para responder a eventuais perguntas. Destacamos que a ferramenta de tradução simultânea está disponível na plataforma. Para acessar, basta clicar no botão Interpretation na parte inferior da tela e escolher o idioma de preferência. Esta conferência está sendo gravada e ficará disponível no site de relações com investidores da companhia. www.ri.equatorialenergia.com.br asim como a apresentação aqui exposta Informamos que todos os participantes estarão apenas ouvindo a conferência durante a apresentação e em seguida iniciaremos a sessão de perguntas e respostas quando mais instruções serão fornecidas Before proceeding, we would like to emphasize that the prospective statements are based on the beliefs and assumptions of the Equatorial Group administration and the current information available to the company. These statements can involve risks and uncertainties, given that they relate to future events and therefore depend on circumstances that may or may not occur. Investidores, analistas e jornalistas devem levar em conta que eventos relacionados ao ambiente macroeconômico, ao segmento e a outros fatores que podem fazer com que estes resultados sejam materialmente diferentes daqueles expressados nas respectivas declarações prospectivas. Daremos início à apresentação passando a palavra ao Sr. Augusto Miranda. Por favor, Sr. Augusto, pode prosseguir.

Boa tarde a todos e obrigado pela presença no nosso call de resultados. Antes de iniciarmos os destaques do trimestre, gostaria de ressaltar que, para melhor comparação dos números aqui apresentados, com o segundo TRI de 25, realizamos ajustes excluindo o resultado do segmento de transmissão, o qual desinvestimos em dezembro de 2025. Entendemos que essa abordagem oferece uma visão mais clara e comparável da nossa performance contínua. We ended the period with approximately R$ 10 billion in cash, which represents 2.5 times the short-term debt, reinforcing an important liquidity position to deal with the year 2026. In relation to the liquid debt indicator for EBITDA, we observed an increase of 0.4 times compared to the first 3 of 26, mainly influenced by the payment of R$ 5.6 billion for the acquisition of participation in COPAT. You will remember that the EBITDA of 12 months still accounts for the capital gain during the sale of transition assets, which will remain until the third trade of 26. In the QETAN of the compensations, we follow a positive trajectory of a reduction of R$ 16 million, or 18.3%, reflecting our focus on the continuous improvement of service quality. On the operational side, we had a second TRI marked by progress. The FIU-B market grew 4.2%, driven by our concessions in Pará, Amapá, Goiás, Maranhão, Rio Grande do Sul and Piauí. In this TRI, we had a change in the turnover of Group A in Alagoas, which caused a decline of one month of turnover for the third quarter. To adjust this effect, the market that B would have grown 5%. The loss indicator remained below the regulatory level in a consolidated view, with a difference of 1 percentage point, with a highlight for Maranhão, which began to appear again within the regulatory level. Regarding the quality indicators, we observed a reduction of the DEC in all group distributors, in comparison with the first TRI of 26, and with a highlight for Amapá, which reduced 2.5 hours, and for Piauí, which was within the regulatory limit. This performance reinforces the commitment of the Equatorial Group to quality, efficiency and continuous improvement of services sustained by discipline in execution. Still in this trio, we would add approximately R$ 911 million of a total passive of R$ 2.8 billion to the Gaúcho agreement in the SED, guaranteeing a relevant improvement in the conditions of the company's passives. O desconto de 75% sobre os juros e multas, equivalente a R$ 355 milhões, já está refletido no resultado sobre o saldo remanescente, até 60% do pagamento poderá ser realizado por meio de precatórios adquiridos com deságio, cuja liquidação está prevista para o segundo semestre. Finally, I would like to highlight the relevance of the acquisition of participation in COPASA, which represents an important milestone in the growth trajectory of Equatorial. This achievement reinforces our ability to identify and capture value-generating opportunities, reflecting more than two decades of operational excellence, discipline in capital allocation and consistent execution capacity. We are very proud of this strategic movement that expands our presence in the sector in which we accumulate experiences and proven results. We continue to focus on the conclusion of the remaining regulatory stages and we are prepared to implement our value creation plan, always committed to generating sustainable returns for our shareholders and other stakeholders. Now I pass the floor to Leo on slide 5, where we will start with a consolidated view of the group's economic and financial performance. With you, Leo, please.

Thank you, Augusto, and good afternoon to everyone. I'm going to talk here quickly about the group's economic and financial performance, in a consolidated and adjusted view. Our consolidated gross margin grew by 7.7%, driven mainly by the performance of the distribution segment, reflecting the market progress and the increase in the FIB rate. EBITDA consolidated an advance of 0.8%. Disconsidering the equivalence of ASSA-DESP in our EBITDA, the growth would have been 4.1%. Evidenciando a evolução do segmento de distribuição que iremos detalhar mais adiante. O lucro líquido societário antes das participações minoritárias reportada no trimestre totalizou R$ 653 milhões impulsionado pelo reconhecimento do ganho com adesão do Acordo Gaúcho. In the adjusted version, which disregards this effect and the withdrawal of the transmission result for comparative purposes, the adjusted liquid profit suffered a reduction of 80%, reflecting mainly the increase in the financial expenditure during the period, both due to the increase in interest rates and the balance of the debt associated with the current cycle of investments before the tariff revisions that are approaching. The liquid debt relationship for EBITDA was at a level of 3.1 times, with an increase of 0.4 times in relation to the previous quarter, mainly, as already mentioned by Augusto, by the acquisition of participation in COPASA. It is worth noting that, for Covenants ends, And according to the contractual writing, EBITDA considers, in addition to the result of Equatorial and the equivalence of Sabesp, a pro-form calculation of what would have been the patrimonial equivalence of the participation of Copasa in the last 12 months. In this way, there is a better understanding of the true impact of this new acquisition in the leverage. This quarter, we continue with a strong performance in the capital market. Focando na melhoria do perfil da dívida Através do aumento do prazo médio E da redução dos spreads das dívidas em CDI Que hoje está em CDI mais 0,57% ao ano Para este trimestre, captamos 7,6 bilhões Sendo 5,1 bi destinados para aquisição da Copasa Com custo médio de CDI mais 0,8% ao ano The average debt period excluding the debt for the acquisition of participation of COPASA would be 5.9 years and with COPASA 5.6 years. Faced with a traditionally more volatile scenario due to the elections, we work to anticipate our captions, preserving financial flexibility and seeking competitive funding conditions. Finally, we bring the amount of investments made in the quarter, which is about 2.6 billion, a reduction of about 4% in relation to the same quarter of the previous year. Let's now go to slide 7. Here, in slide 7, we bring a general view of the operational and commercial performance consolidated by our distributors. In addition to the financial highlights of the TRI, on the left side we can observe a strong market growth, with 4.7% of energy injected and 4.2% of the B-wire market. It is worth noting that even with the scenario of expansion of the market base, the company maintained a trajectory of loss reduction with a drop of 0.2% when compared to the second tri of 2025. This quarter, we had a collection of 97.32% and the PSLD of 1.26%, influenced, on the one hand, by the increase in unemployment and, on the other, by the strong growth of turnover during the period. In relation to quality indicators, we present better in all distributors of the group. with five of the seven square in the regulatory limit of the DEC. Among the companies still outside this limit, it is worth noting that Rio Grande do Sul has a specific contractual DEC for this year, while Goiás continues with the waiver for the DEC indicator being only 0.06 hours above the regulatory limit. In the FEC, all distributors remain within the regulatory limits and, as a reflection of this operational evolution and the improvement of service quality, we registered a reduction of 18.3% in the level of compensation in comparison between the semesters. On the right side of the slide, we can observe a growth in gross margin of distributors of 10.4% in the quarter, reflecting mainly the largest fee rate and the largest market of the period. Já o PMSO ajustado por consumidor das distribuidoras nos últimos 12 meses apresentou um crescimento de 4% em relação ao segundo trimestre de 2025, abaixo da inflação do período. Em uma visão ajustada pelas compensações, o crescimento It was only 1.2%, reflecting the advances in operational quality combined with the efficient use of resources discipline. In the last 12 months alone, we have seen a reduction of 102 million in compensations paid to consumers. The growth of the adjusted distribution EBITDA was about 8%, mainly influenced by the increase in gross margin. It is worth remembering that the removal cost is being considered for comparison purposes impacting the adjusted EBITDA in both quarters. Now, let's go to slide 9. Let's take a look at the other segments of the group. In the sanitation segment, we have an EBITDA of R$ 6.6 million, a 10.4% reduction in relation to the second TRI of 2025. However, it is worth noting that the comparison is impacted by an effect recorded in the second TRI of 2025 related to a revision of the provision as a result of the conclusion of an inventory. Disconsidering this effect, EBITDA would have a growth of 24% compared to the same quarter of the previous year, as a result of the growth of the gross margin. In addition, we continue to advance with water and sewage coverage and present a level of PSLD on ROE lower than last quarter. In the Renewable segment, we have an EBITDA adjusted to ECOENERGY of 135.3 million, 22.6% lower among periods, a reflection mainly of the lowest generation in the period. Here we also bring a view of the curtailment, opened by the criteria of reliability, energy and external availability, and its financial impact since 2023. Regarding the reshaping of the curtailment, we have had an important advance in the last few weeks. The Ministry of Minas and Energy has published the Regulation No. 140, which regulates the procedures to operationalize the compensation provided in Law 15.269. The events of trustworthiness and external availability occurred between September 2023 and November 2025. We understand that this regulation represents a relevant step to give effectiveness to the resettlement process and we continue to follow its implementation and actively contribute to the next stages. Now I pass the floor to Augusto.