Business Strategy Execution

Electricity Networks in Portugal 2023 regulated revenues +2% supported by indexation to Portugal 10-year bond yields and inflation Electricity Distribution regulated revenues ERSE's proposal edp 2022 2023 YOY Regulated Revenues Annual RoRAB indexed to 10-year Portuguese bond yields¹ €1,029m €1,050m +2.0% 8% Preliminary RoR 2022 Preliminary RoR 2023 Avg. PT 10y Bond Yield in Oct-222 7% Return on RAB 4.70% Preliminary RoR as of Dec-21 5.03% Preliminary RoR as of Oct-22 +33bps Rate or Return 6% 5% 4% 3% -3% -1% 1% 3% 5% 7% 9% GDP Deflator 1.5% LTM as of Jun-22 7.8%1 IMF projection for 2022 as of Oct-22 +630bps 10-Y Port Govern Bond Yield Inflation update on RAB & Totex at GDP Deflator³ with some time lag (1) Avg. Portuguese 10-year bond yields from October year t-1 to September year t | (2) Avg. 10-year Portuguese Gov. Bond Yield until 21st October, which will impact the RoR for 2023 | (3) Note that RAB & Totex in year t is updated on the avg. GDP Deflator from June t-2 to June t-1 Business Strategy Execution 16

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