Enel Americas S A : Américas Financial Statements Analysis - Q4 & FY 2023

PRESS RELEASE

CONSOLIDATED FINANCIAL STATEMENTS

ENEL AMÉRICAS GROUP

AS OF DECEMBER 31, 2023

PRESS RELEASE

ENEL AMÉRICAS GROUP

CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2023

(figures expressed in millions of US$)

• At the end of the fourth quarter of 2023, Enel Américas continues to make significant progress toward the sale of all its operating subsidiaries in Peru, in the different businesses where the Group is present. This situation means that considering the guidelines established in international accounting regulations, the after-tax earnings of all these subsidiaries are presented, in comparative terms, as a single amount in the consolidated income statements of Enel Américas as discontinued operations1.
• In the fourth quarter of 2023, revenues reached US$ 3,080 million, representing a 16.7% decrease compared to the same period of the previous year. This is explained by changes in the scope of consolidation, mainly accounted for by the fact that in 2023, the results of Enel Generación Fortaleza, Enel Distribución Goiás, Costanera, and Central Dock Sud were no longer consolidated in the same way as the concession of transmission assets operated by Enel CIEN was not renewed. These assets were transferred to the new operator, and additionally, in 2022, an extraordinary income was recognized in Edesur for US$ 220 million as a result of the renegotiation of debts with CAMMESA. Excluding the effects of changes in the scope of consolidation and extraordinary income in Argentina, revenues would have increased by 2.5%, mainly explained by higher revenues at Enel Colombia.
• Cumulatively, up to December, revenues reached US$ 12,888 million, a 9.2% decrease compared to 2022, also explained by the effect of perimeter consolidation.
• EBITDA in the fourth quarter of 2023 reached US$ 849 million, representing a 31.5% drop compared to the fourth quarter of 2022. This decrease is explained by the consolidation perimeter effect abovementioned and mainly by an extraordinary effect recognized in 2022 related to the agreement signed between Edesur, the National Energy Secretariat, and ENRE that established a debt write-off with CAMMESA for US$ 220 million. Excluding the perimeter effect and Edesur's one-off, EBITDA would have fallen by 9.9%. The exchange rate had a positive impact in this period thanks to the appreciation of the real and the Colombian peso. If we also isolate this effect, EBITDA would have fallen by 12.9%. This decrease is mainly explained by lower results in the generation business in Colombia and distribution in Brazil.

1 For more information, see note 6.1 of the consolidated financial statements of Enel Américas as of December 31, 2023.

1

PRESS RELEASE

CONSOLIDATED FINANCIAL STATEMENTS

ENEL AMÉRICAS GROUP

AS OF DECEMBER 31, 2023

Relevant Information for the analysis of these financial statements

1. Changes in the consolidation perimeter due to Enel Américas Group's corporate simplification

At the end of 2023, Enel Américas reported its strategic plan for the 2024-2026 period, in which was confirmed the Group's corporate simplification that the Group has been executing and which was announced in the strategic plan 2023-2025, in November 2022. This plan considers concentrating operations in those countries that allow the acceleration of the energy transition process in the region, being the main objective the conclusion of the disposal process of the in Peru and continue with the analysis of the potential sale od the remaining operations in Argentina.

The sales planned in the 2023-2025 strategic plan would be added to the disposals already completed during 2022 and of the Brazilian subsidiaries Enel Generación Fortaleza and Enel Distribución Goiás.

In November 2023, Enel Américas published its 2024-2026 Strategic Plan, where were ratified the sales of its assets in Argentina and Peru.

The main sales processes that Enel Américas has been carrying out as of 2022 to date are described below:

1. Sale of Central Geradora Thermoelétrica Fortaleza SA (CGTF) (commercially known as "Enel Generación Fortaleza")

Initiating studies for the potential sale of Enel Generación Fortaleza, a Brazilian subsidiary focused on independent energy production authorized by the Brazilian energy regulator(ANEEL), the Company aims to take the lead in sustainability efforts and prioritize investments in clean energy in 2022.

On June 9, 2022, following the completion of the feasibility study, the Group entered into a sale agreement with the ENEVA S.A. Group for the sale of 100% of the CGTF shares owned by the subsidiary Enel Brasil. Due to the circumstances mentioned, in the second quarter of 2022, CGTF's assets and liabilities were reclassified as available for sale, with the former being measured by the lower of their book value and fair value. This entailed identifying an impairment loss of BRL 395 million, which is equal to US$ 77 million, in the second quarter of 2022.

Following the successful completion of all requirements, the deal with ENEVA S.A. was finalized on August 23, 2022. In exchange for the sale of the shares issued by CGTF, Enel Brasil's subsidiary received a payment of BRL 490 million, which is equivalent to US$ 96 million. This led to a loss of US$ 131 million on the sale, with US$ 94 million attributed to conversion differences accumulated during the consolidation process of CGTF in Enel Américas and that were accumulated in other comprehensive results until the date of the disposal.

1. Sale of CELG DISTRIBUIÇÃO SA (commercially known as "Enel Distribución Goiás")

On September 23, 2022, our subsidiary Enel Brasil signed a share purchase agreement with Equatorial Participações e Investimentos S.A., a subsidiary of Equatorial Energia S.A. (collectively "Equatorial"), through

3

PRESS RELEASE

CONSOLIDATED FINANCIAL STATEMENTS

ENEL AMÉRICAS GROUP

AS OF DECEMBER 31, 2023

which, and subject to meeting certain conditions precedent, Enel Brasil would dispose of 99.9% of the shares issued by Enel Distribución Goiás, owned by Enel Brasil S.A. (the "Share Purchase Agreement").

Accordingly, during the third quarter of 2022, the assets and liabilities of Enel Distribución Goiás were reclassified as available for sale, adjusting the former to the lower between their book value and fair value. This involved recognizing a US$ 786 million loss due to impairment.

The agreed conditions precedent included authorizations from Brazilian regulatory bodies Agência Nacional de Energia Elétrica ("ANEEL") and Conselho Administrativo de Defesa Econômica ("CADE").

By the end of 2022, the conditions precedent established in the Share Purchase Agreement were met. On December 29, 2022, Enel Brasil S.A. completed the sale of 99.9% of the shares issued by Enel Distribución Goiás S.A. to Equatorial. As consideration for the sale of the shares as mentioned above, on that date, Enel Brasil received the payment of BRL 1,513 million, equivalent to US$ 293 million, leading to a US$ 219 million loss on the sale, of which US$ 216 million corresponded to the conversion differences generated in the consolidation process of Enel Distribución Goiás n Enel Américas and which were accumulated in other comprehensive results up to the date of the disposal.

1. Sale of Enel Generación Costanera and Central Dock Sud

As of December 31, 2022, the Company has been engaged in advanced negotiations aimed at selling its stake in the Argentine subsidiaries that operate the thermal generation business Enel Generación Costanera and Inversora Dock Sud, Central Dock Sud's parent company.

Enel Américas' Management estimates that the sale of its participation in these subsidiaries will very likely take place in 2023.

Considering the preceding paragraphs, pursuant to the provisions of IFRS 5 "Non-Current Assets Held for Sale and Discontinued Operations" and following the accounting criteria described in note 3.k), at the end of 2022, the Company reclassified the assets and liabilities of Enel Generación Costanera and Inversora Dock Sud as held for sale, measuring the former by the lower between their book value and fair value.

The preceding meant recognizing a US$ 166 million impairment loss in the case of Enel Generación Costanera and a US$ 150 million impairment loss in the case of Inversora Dock Sud.

Subsequently, on February 17, 2023, through its subsidiary Enel Argentina, Enel Américas signed a sale agreement of the Group's 75.7% stake in the thermal generation company Enel Generación Costanera to the energy company Central Puerto S.A. The value of the sale was US$ 48 million, leading to a US$ 85 million loss on the sale recorded during the first quarter of 2023, mainly explained by the conversion differences generated in the consolidation process of Enel Generación Costanera in Enel Américas, accumulated in the comprehensive results as of the date of the disposal.

4

PRESS RELEASE

CONSOLIDATED FINANCIAL STATEMENTS

ENEL AMÉRICAS GROUP

AS OF DECEMBER 31, 2023

On the same date, Enel Américas signed an agreement with Central Puerto to sell the Group's 41.2% stake in the thermal generation company Central Dock Sud. The sale was subject to meeting certain conditions precedent, which included the fact that the operation would be carried out only if Central Dock Sud's remaining minority shareholders, both direct and indirect, did not exercise their pre-emptive purchase right.

On March 17, 2023, YPF Luz, YPF's electric power company, notified Enel Américas of its intention to exercise its pre-emptive purchase right of all the shares it owns in Inversora Dock Sud S.A., extending the same intention to the shares that Enel Américas owned in Central Dock Sud S.A. through Enel Argentina. Similarly, on the same date, Pan American Sur S.A. informed Enel Argentina of its intention to exercise its pre-emptive right to purchase the shares it held in Central Dock Sud. The agreement with the minority shareholders of Dock Sud, both direct and indirect, established a total of US$ 52 million as a sale value and was subject to meeting certain conditions precedent.

On April 14, 2023, after meeting the conditions precedent, the sale of the Group's stake in Central Dock Sud was completed. As a result of this operation, the Company registered a US$ 193 million loss corresponding mainly to the conversion differences stemming from the consolidation process of Central Dock Sud in Enel Américas, accumulated in other comprehensive results until the date of completion to be recorded and entirely during the second quarter of the year.

1. Sale process of Peruvian subsidiaries

As of December 31, 2023, the Company made significant progress toward completing the sale of its 100% interest in its operating subsidiaries in Peru. These subsidiaries operate in the electric power distribution and generation business and advanced energy solutions.

The Management of Enel Américas estimates that it is highly likely that the sale of its interest in these subsidiaries will take place in the next months.

The details of the companies in the sale process are as follows:

1. On August 1, 2023, the merger by absorption of the Peruvian companies Enel Green Power Perú S.A., Empresa de Generación Eléctrica Los Pinos S.A., and Empresa de Generación Eléctrica Marcona S.A.C. with Enel Generación Perú S.A. took place, the latter being the legal successor.

1. Subsidiary of Enel Generación Perú

5

PRESS RELEASE

CONSOLIDATED FINANCIAL STATEMENTS

ENEL AMÉRICAS GROUP

AS OF DECEMBER 31, 2023

Considering the preceding paragraphs, in accordance with the provisions of IFRS 5 "Non-Current Assets Held for Sale and Discontinued Operations" (IFRS 5) and following the accounting criteria described in note 3.k), during the period ended December 31, 2023, the Company reclassified the assets and liabilities related to the businesses in Peru as held for sale. The expected value for each asset exceeds its corresponding book values.

Furthermore, considering that Enel Américas will cease to operate in Peru, in each of the businesses in which it is currently present, and as established in IFRS 5, the after-tax results of the operating subsidiaries in Peru are presented as a single and separate amount in Enel Américas' consolidated income statements as of September 30, 2023, as gains on discontinued operations. For comparative purposes, the results of the operating subsidiaries in Peru as of September 30 2022, as well as the second quarter of the same year, have been restated and also classified as discontinued operations.

Specific background:

1. Sale process of Enel Distribución Perú and Enel X Perú

On April 7, 2023, Enel Américas' subsidiary, Enel Perú S.A.C., signed a "Share Purchase Agreement," under which it agreed to sell to China Southern Power Grid International (HK) Co., Limited., all of the shares it owns and issued by Enel Distribución Perú S.A.A., equivalent to 83.15% of its share capital and by Enel X Perú S.A.C., equivalent to 100% of its share capital (the "Share Purchase Agreement"). The total amount of the sale reached to approximately US$ 2,900 million and is subject to usual adjustments for this type of transaction considering the time elapsed between the signing of the contract and the closing of the operation. It is estimated that the execution of this sale will have an effect on the consolidated net results of Enel Américas of approximately US$ 1,650 million.

The completion of the sale and purchase agreement and the subsequent transfer of the shares of Enel Perú S.A.C. issued by Enel Distribución Perú S.A.A. and Enel X Perú S.A.C. was subject to certain conditions precedent customary for this type of transaction, including the approval of the former by the National Institute for the Defense of Competition and the Protection of Intellectual Property (INDECOPI) of the Republic of Peru and the approval of the Chinese authorities responsible for outbound direct investments (ODI). The acquisition will be carried out directly. However, the buyer must carry out a subsequent public acquisition offer (OPA) in accordance with Peruvian law.

On February 05, 2024, INDECOPI approved the transfer of shares of Enel Distribución Perú S.A.A. and Enel X S.A.C. to China

Southern Power Grid International (HK) CO., Limited. The sale operation will be conducted under compliance of certain conditions that guarantee transparency in the energy supply mechanisms, in order to protect competition and the interests of consumers. As of the date of issuance of the financial statements, the closing and execution of the transaction is subject to compliance of other conditions agreed between Enel Perú S.A.C. and China Southern Power Grid International (HK) Co., Limited.

1. ii) Sale process of Enel Generación Perú and Compañía Energética Veracruz S.A.C.

On November 21, 2023, Enel Américas and its Peruvian subsidiary, Enel Perú S.A.C., entered into an English-language contract named "Purchase and Sale Agreement" ("PSA"), under which they agreed to sell to Miagara Energy S.A.C., a company Peruvian company controlled by the global investment fund Actis, all of its shares issued by Enel Generación Perú S.A.A., equivalent to 66.50% ownership of Enel Perú S.A.C. and 20.46% ownership of Enel Américas, and Compañía Energética Veracruz S.A.C., equivalent to 100% of its share capital owned by Enel Perú S.A.C. (the sale").

6

PRESS RELEASE

CONSOLIDATED FINANCIAL STATEMENTS

ENEL AMÉRICAS GROUP

AS OF DECEMBER 31, 2023

The execution of this Purchase and Sale agreement and the consequent transfer of the shares owned by Enel Américas and Enel Perú issued by Enel Generación Perú S.A.A. and by Compañía Energética Veracruz S.A.C, which is estimated to be completed during the second quarter of 2024, has been subject to certain suspensive conditions usual for this type of operations, among which the approval of the former by INDECOPI stands out. The acquisition of the shares of Compañía Energética Veracruz S.A.C. will materialize directly and the acquisition of the shares of Enel Generación Perú S.A.A. It will be carried out through a public acquisition offer in accordance with Peruvian legislation.

The total price of the Purchase and Sale agreement amounts to approximately US$ 1,400 million and is subject to usual adjustments for this type of transactions, and considering the time elapsed between the signing of the contract and the closing of the operation. The PSA contemplates the granting of a bond and joint debt, usual in this type of transactions, from Enel Américas in favor of Enel Perú, to guarantee certain payment obligations, for maximum amounts and staggered validity times for each group of obligations.

It is estimated that the execution of the Purchase and Sale agreement will have an effect on the consolidated net results of Enel Américas of approximately US$ 400 million.

1. Sale of Transmisora de Energía Renovable S.A.

On September 6, 2023, our subsidiary Enel Colombia S.A. E.S.P., in conjunction with Enel Guatemala, S.A. and Generadora Montecristo S.A., subsidiaries of Enel Colombia located in Guatemala, signed the purchase and sale agreement for the sale of 100% of the stake in the subsidiary Transmisora de Energía Renovable, S.A. ("Transnova") with

Grupo Energía de Bogotá S.A. E.S.P.

The mission of this Guatemala-based subsidiary is the transmission of electrical power throughout the nation. Initially designed to connect two electrical substations and a transmission line to facilitate the flow of energy produced by the Palo Viejo hydroelectric plant (which is operated by its related company Renovables de Guatemala, S.A.). However, at present, it serves the entirety of the national grid, facilitating connections between local related entities and independent third-party agents. The company owns overhead transmission lines spanning 32 kilometers that connect the substations located in Uspantan and Chixoy 2.

7

PRESS RELEASE

CONSOLIDATED FINANCIAL STATEMENTS

ENEL AMÉRICAS GROUP

AS OF DECEMBER 31, 2023

Considering the preceding paragraphs, in accordance with the provisions of IFRS 5 "Non-Current Assets Held for Sale and Discontinued Operations" and following the accounting criteria described in note 3.k), as of the end of the first quarter of this year, the Company reclassified the assets and liabilities of Transmisora de Energía Renovable S.A. as held for sale. The expected sale value of this company exceeded its corresponding book value.

On October 19, 2023, our subsidiary Enel Colombia S.A. E.S.P., in conjunction with Enel Guatemala, S.A. and Generadora Montecristo S.A., Enel Colombia's Guatemala-based subsidiaries, completed the sale of 100% of its stake in the subsidiary Transmisora de Energía Renovable, S.A. Grupo Energía de Bogotá S.A. E.S.P. The sale price was MCOP 148,794,000, corresponding to MUS$ 33,518 and generating MUS$ 3,169 profits.

1. Sale of Central Cartagena en Colombia (SPCC)

On July 12, 2023, Enel Colombia S.A. E.S.P.and SMN Termo Cartagena signed an agreement for the sale and purchase of the assets of the Cartagena Thermal Power Plant and 100% of the stake of Sociedad Portuaria Central Cartagena S.A., concessionaire of the Port Permits essential for the operation needs of the Cartagena Thermal Power Plant.

This thermoelectric plant, located in Mamonal, an industrial area of Cartagena, has 203 megawatts (MW) installed capacity and generates energy through the use of gas and/or liquid fuel.

In view of the above, pursuant to the provisions of IFRS 5 "Non-Current Assets Held for Sale and Discontinued Operations" and following the accounting criteria described in note 3.k), the Company reclassified the SPCC assets and liabilities as held for sale.

Subsequently, on December 1, 2023, the sale was completed, SMN taking ownership, management, and operation of the power generation plant and the port concession.

1. Merger of Colombian Companies

On March 1, 2022, the merger by absorption of our subsidiaries Emgesa S.A. ESP (Absorbing Company), Codensa S.A. ESP, Enel Green Power Colombia S.A.S. ESP and ESSA2 SpA (Absorbed Companies) was completed. The new corporate name of the merged company is Enel Colombia S.A. ESP, a company in which Enel Américas holds a 57.345% stake as a result of this operation.

III. Rounding

The figures in this report are expressed in millions of US dollars and, for ease of presentation, have been rounded. That is why it might happen when adding the figures contained in the tables that the result is not exactly equal to the total of the table.

8