Investor Presentation

We have a distinctive and resilient portfolio, with a low-risk profile and focused geographic presence Our distinctive and resilient portfolio... ... increasingly aligned with the Energy Transition 2026 guidance, share of EBITDA <5% <15% >95% Energy Transition at our core Iberia Rest of Europe Share of EBITDA ~45% ~25% North America APAC 2026 <5% Decreasing exposure in Thermal while managing for value. South America ~45% ~15% edp >80% Continue focus on high-rated markets (Europe, North America) ~35% Inflation linked Share of <50% Manage exposure in Iberia, improving diversification Flat Gross Profit 2023-26 Escalators/Collars Hedged/Merchant <20% Manage exposure to Brazil, optimize portfolio ~5% ~15% Investors' Presentation 19

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