EDP Renováveis S A : EDPR Investor Presentation

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Our Sector

EDP Group Vision

EDPR at a Glance

Our Strategy

FY23 Results & Updates

Appendix

people living in coastal areas at high risk of rising sea levels

of forest burnt in Europe in a given week vs. long-term average 2006-21

Shifting global dynamics…

Decrease in gas flows

~50% reduction of Russian gas flows to Europe, driven by ongoing conflict1

Increase in energy prices

~7x increase in wholesale prices in Europe3 , ~3x in the US2,3

Rising inflation and interest rates

7-8pp increase in inflation rate in Europe and the US from 2020 to 2022 bond yields in the Eurozone and the US, respectively3

Supply chain challenges

97% of global solar wafers coming from China (evaluating a tech export ban)

Increasing CAPEX costs

20-30% CAPEX/MW increase estimated for 2023-26 vs. 2020-214

… further emphasize the need for

(Clean) Energy independence

Affordable energy

Reliable supply chains

Change is already happening...

Inflation Reduction Act

> $400bn in climate spending to reduce emissions >40% by 2030

Expansion and extension of PTCs and ITCs with 10+ years of full- value credits visibility, adjusted for inflation

New tax credits implemented for clean hydrogen (up to $3/kg tax credit) and storage (eligible for ITCs for the first time)

REPowerEU

>€200bn in grants by 2027 to achieve 45% RES generation and x2.5 RES capacity (vs. 2021) by 2030

Green Deal Industrial Plan & Market Design reflection

Predictable and simplified regulatory environment (access to funding, skills, and open trade for resilient supply chains)

The Wind Power Action Plan

Improve & simplification of auction's design, digitalization commitments, action plan on grids & ensure fair market standards

… with existing challenges being addressed

Long-term, predictable

policy frameworks

Simplified, effective

administrative procedures

United Nations Net Zero by 2050

Unprecedented and structural tailwinds for the energy transition

+50%

90%

EU recommends net

greenhouse gas emissions 90% reduction by 2040, compared to 1990 levels

Upwards revision targets 2023-27

Including key markets where we are present: Germany, Brazil & US

We are an energy transition leader, creating superior value for all stakeholders

Distribution &

Transmission <€5.0bn €7.0bn €7.5bn ~€8.0bn

Networks RAB

33 GW