2Q22

Earnings

August 12, 2022

Disclaimer

This presentation may contain certain forward-looking statements and information relating to ENEVA that reflect the current views and/or expectations of the Company and its management with respect to its business plan. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words like "may", "plan", "believe", "anticipate", "expect", "envisages", "will likely result", or any other words or phrases of similar meaning.

Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this presentation.

In no event shall the Company, its subsidiaries, directors, officers, agents or employees be liable before any third party (including investors) for any investment or business decision made or action taken in reliance on the information and statements contained in this presentation or for any consequential, special or similar damages.

The Company does not intend to provide shareholders with a review of forward-looking statements or analysis of the differences between forward-looking statements and actual results.

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2

2Q22 Highlights

R$503 million

Adjusted EBITDA¹ 2Q22 +33% vs. 2Q21

R$4.2 billion

Follow-on: 300MM new shares, allocated to the

acquisition of CELSE

R$5.0 billion

Cash and Cash Equivalents (June/22)

Leverage (Net Debt/LTM EBITDA): 2.2x

  • Signing of agreement for the acquisition of CELSE

LNG-fired thermal power plant (Porto de Sergipe I TPP) with an installed capacity of 1.6 GW + Pipeline of greenfield projects totaling 3.2 GW

  • Signing of agreement for the acquisition of Termofortaleza TPP

Natural gas-fired thermal power plant with an installed capacity of

  • 327 MW

  • First two agreements signed to supply LNG to industrial clients
    Suzano and Vale
  • Reserves and Contingent Resources Certification Report

  • 14.8 bcm of gas reserves (2P) and 4.7MM bbl of condensate reserves (2P) in the Azulão Field

  • Publication of the 2021 Sustainability Report, audited by a third party and Publication of HSE and Sustainability Policies

Note: 1- Adjusted EBITDA does not include dry well expenses and provisions for doubtful accounts.

3

Energy Market: 2Q22 Highlights

Recovery of reservoirs and spot prices (PLD) at the structural regulatory floor, indicating a decline in the need for centralized thermal dispatch to SIN. Beginning of energy exports to Argentina and increase in inflexible dispatch boost thermal generation

110%

60%

10%

Historical Stored Energy (EARM) by Subsystem

(%)¹

96%

95%

91%

66%

Northeast North Southeast/Midwest South

Average PLD in the Quarter2

Southeast/Midwest Submarket

229

58

56

-76%

R$/MWh

R$/MWh

R$/MWh

2Q21

1Q22

2Q22 vs. 2Q21

2Q22

Brazil-Argentina Energy Export

(Average GW/month)

1,3

1,0

0,9

0

0

0

0

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Thermal Generation

(Average GW/month)

17

19

19

19

19

17

13

10

9

11

13

12

10

7

6

5

7

9

Notes: 1 - Source: ONS website; 2 - Source: CCEE.

4

Despite low dispatch, net revenues grew 40% y.o.y.

Exports to Argentina, commercial startup of the Jaguatirica II TPP, contractual adjustment of fixed revenues and non-cash impact of the MtM position of futures contracts of the Trading segment

Gross Energy Generation (GWh)

Gas Production (Bn m3)

Consolidated Net Revenues (R$ million)

58%

Gas

Coal

40%

2,450

Average TPP

684

Dispatch¹

19%

1,349

0.43

0.04

928

6

1,766

0.20

962

922

2Q21

2Q22

2Q21

2Q22

2Q21

2Q22

Parnaíba Basin

Amazonas Basin

2Q22 Gas-fired Plants' Gross Generation

  • 433 GWh²: Parnaíba I, Parnaíba III and Parnaíba IV TPPs directed to exports to Argentina
  • 353 GWh: Parnaíba II TPP in compliance with its contractual inflexibility beginning in June
  • 103 GWh: Jaguatirica II TPP for the Roraima Isolated System, which began commercial operation in 1H22

Notes: 1- Weighted average dispatch by unit installed capacity; 2- Equivalent to 415 GWh net generation sold to Argentina.

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Eneva SA published this content on 12 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2022 14:14:08 UTC.