Enel Americas S.a. · BCS:ENELAM
Enel Americas — Q3 2026 Earnings Presentation
39 slides from Enel Americas's earnings presentation, Oct 30, 2026
Slide 1: Third Quarter & Nine Months Consolidated results
Third Quarter & Nine Months Enel Américas Consolidated results October 30th, 2026
Slide 2: Key highlights and operational performance
Q3 & 9M 2026 Key highlights and operational performance Giuseppe Turchiarelli CEO
Slide 3: Q3 2026 Key highlights
Q3 2026 Key highlights Investments Solid growth in investments, aligned with Strategic Plan goals CAPEX +43% increase on investments, supported by tariff scheme improvement USD 0.65 bn Grids CAPEX increased 30% mainly focused on digitalization and resilience +20% YoY +2% CAPEX increase, broadly in l
Slide 4: Share buyback program
Share buyback program Successful repurchase program of 5% of outstanding shares 2026 Share buyback program Improvement to shareholders’ returns Shareholders structure1 • Remaining shareholders: DPS accretion for remaining shares • Selling shareholders: +15% premium to market price 5.0% 9.3% Program
Slide 5: Regulatory scenario
Regulatory scenario Key recent and expected developments for our main markets Relevant topics El Niño measures: Effective on September 7, CREG3 activated preventive measures to maintain reservoir levels, Enel Dx São Paulo concession: On October 6, ANEEL1 set minimum thermal generation requirements,
Slide 6: Gross CAPEX
Gross CAPEX Investments in Grids aligned with Strategic Plan goals CAPEX by country and business1 Grids CAPEX breakdown2 1% 10% 14% Networks upgrade 24% growth 29% +12% YoY 34% Q3 2026 USD 650 mn USD 650 mn USD 560 mn (+20% YoY) (+20% YoY) (+29% YoY) 65% Argentina 86% 37% Networks upgrade Brazil Gri
Slide 7: Grids operational highlights
Grids operational highlights Continued deployment of smart meters reinforcing our digitalization efforts Electricity distributed (TWh) Grids customers (mn) Quality indicators2 SAIDI (hours) SAIFI (times) +3% +1% +349k 9M 2025 9M 2026 9M 2025 9M 2026 77.5 78.6 23.2 Edesur 18.4 16.2 8.8 9.1 22.9 Enel
Slide 8: Installed capacity & net production
Installed capacity & net production Higher total generation mainly explained by favorable market conditions in Colombia Net installed capacity (GW) Net production1 (TWh) Capacity Colombia & 96% by country Enel Américas1 Brazil Central America 4% renewables +4% 10.9 11.4 5.6 -6% 5.3 +14% 6.0 6.6 GW 0
Slide 9: Atlántico solar power plant
Atlántico solar power plant Renewable delivery in Colombia, helping diversify our energy matrix +522 MW (+59%) solar capacity in Colombia compared to 2025 Details on the project Solar represents 30% of our installed capacity in Colombia Our assets represent c. 50% of Colombia's centrally dispatched
Slide 10: Economic and financial performance
Q3 & 9M 2026 Economic and financial performance Rafael de la Haza CFO
Slide 11: Financial highlights
Financial highlights Strong EBITDA increase led by Generation in Colombia and Grids in all countries EBITDA Net income FFO (USD bn) (USD bn) (USD bn) +38% +86% +15% 1.42 0.39 0.88 0.77 1.03 0.21 Q3 2025 Q3 2026 Q3 2025 Q3 2026 Q3 2025 Q3 2026 3.11 3.85 +24% 0.64 0.90 +41% 1.83 1.62 -11% 9M 2025 9M 2
Slide 12: EBITDA breakdown: Q3 2026 results
EBITDA breakdown: Q3 2026 results Favorable market conditions in Colombia and positive Fx dynamics drove EBITDA growth EBITDA evolution by business line (USD mn) EBITDA breakdown 3% +38% 1% 3% +20% 1,417 Argentina 39% Brazil 1,239 179 USD Colombia 23 18 1,417 mn Peru 1,029 169 54% C. America 1% Grid
Slide 13: EBITDA breakdown: 9M 2026 results
EBITDA breakdown: 9M 2026 results Continued outperformance across both businesses, coupled with favorable Fx dynamics EBITDA evolution by business line (USD mn) EBITDA breakdown 4% 1% +24% 4% Argentina +14% 3,845 Brazil USD 45% Colombia 3,425 420 3,106 188 11 3,845 mn Peru 3,007 219 46% (99) C. Amer
Slide 14: Cash flow (USD bn)
Cash flow (USD bn) Flat cash generation despite NWC pressures 3.85 + USD 0.52 bn vs 2025 mainly due to: • Brazil: USD 0.32 bn, explained by CVA1, IFRIC 122 and CAPEX payments (1.14) • Colombia: USD 0.20 bn, explained by account receivables and CAPEX payments (0.52) (0.57) 1.62 (1.63) (0.01) 3 4 5 6
Slide 15: Debt (USD bn)
Debt (USD bn) Net debt increase due to Fx appreciation, dividend payments and share buyback Gross and net debt1 Net debt evolution Gross debt breakdown +15% +35% 4% 8% 7.9 1% BRL Currency 6.8 1.4 6.5 COP USD 0.7 53% USD 2.0 0.5 7.9 bn 4.8 0.5 34% ARS 0.0 PEN 6.5 4.8 4% 8% 1% Brazil Dec. 25 Sep. 26 D
Slide 16: Closing remarks
Closing remarks 1 Continued capital allocation in Grids at the core of our strategy Strong results from Generation in Colombia, solid performance 2 in Grids, and positive effect from currency appreciation Focus on regulatory advocacy efforts to support business 3 continuity Full year 2026 guidance t
Slide 17: Annexes
Q3 & 9M 2026 Annexes enel
Slide 18: Current scenario
Current scenario Local currencies, inflation, electricity distributed and interest rates Macroeconomic variables1 Electricity distributed Interest rates Local currencies Inflation3 vs USD ∆% Q32 ∆%9M2 September September ‘26 vs ‘25 ‘26 vs ‘25 2025 2026 Argentina-1.3% September September Argentina -1
Slide 19: Operating exhibits
Operating exhibits Distribution companies Energy sold SAIDI SAIFI Energy Concession Next tariff Distributor Clients City, Country LTM (GWh) (hours) (times) losses (%) area (km2) review Edesur 2,751,987 17,734 16.2 9.1 19.4% Buenos Aires, Argentina 3,309 2030 Enel Ceará 4,404,627 15,426 8.2 4.0 17.5%
Slide 20: Operating exhibits: installed capacity and production
Operating exhibits Net installed capacity & Total net production: Breakdown by source and geography Net installed capacity (MW) MW Hydro Wind Solar CCGT Coal Total Argentina 0 0 0 0 0 0 Brazil 1,273 3,506 1,844 0 0 6,622 Colombia 3,097 0 1,404 0 226 4,728 Central America 543 0 162 0 0 705 Peru 0 0 0
Slide 21: Energy balance
Energy balance Consolidated figures Energy balance (TWh) Colombia & Enel Américas1 Brazil Central America 13.8 13.8 -3% 7.9 7.9 -14% +12% 6.6 6.6 13.5 13.5 5.9 5.9 0.0 0.1 6.8 6.8 0.6 0.9 2.9 2.1 1.2 2.3 0.6 0.6 0.3 1.1 5.2 1.5 1.4 6.9 5.5 4.0 11.4 5.3 6.0 10.9 5.6 5.3 4.5 7.1 3.8 6.2 2.5 2.3 Sourci
Slide 22: Financial exhibits
Financial exhibits Reported results Q3 2026 Q3 2025 ∆YoY 9M 2026 9M 2025 ∆YoY Revenues 4,614 3,654 +26% 12,766 10,443 +22% Gross Margin 1,890 1,431 +32% 5,272 4,342 +21% OPEX (473) (401) +18% (1,427) (1,236) +15% Reported EBITDA 1,417 1,029 +38% 3,845 3,106 +24% D&A1 (331) (390) -15% (1,135) (1,155)
Slide 23: Grids business results
Grids business results Quarterly and cumulative results Q3 EBITDA evolution (USD mn) YTD EBITDA by country (USD mn) +19% 715 7% 602 31% 2,251 (+18% YoY) 61% Q3 2025 Q3 2026 Argentina Brazil Colombia 23
Slide 24: Generation business results
Generation business results Quarterly and cumulative results Q3 EBITDA evolution (USD mn) YTD EBITDA by country (USD mn) +58% 710 9% 26% 448 1,643 (+32% YoY) 66% Q3 2025 Q3 2026 Brazil Colombia C. America 24
Slide 25: Argentina (USD mn) quarterly results
Argentina (USD mn) Quarterly results Generation Grids Total1 Q3 2025 Q3 2026 % Q3 2025 Q3 2026 % Q3 2025 Q3 2026 % Revenues 9 1 -90% 275 535 94% 284 536 88% Procurements -1 0 <-100% -222 -389 75% -222 -389 75% and Services OPEX 0 -1 <-100% -60 -98 65% -60 -99 66% EBITDA 9 0 -95% -6 48 <-100% 2 48 >1
Slide 26: Argentina (USD mn) cumulative results
Argentina (USD mn) Cumulative results Generation Grids Total1 9M 2025 9M 2026 % 9M 2025 9M 2026 % 9M 2025 9M 2026 % Revenues 37 4 -90% 1,134 1,404 24% 1,170 1,408 20% Procurements -3 0 -92% -732 -963 32% -735 -963 31% and Services OPEX -6 -3 -48% -257 -280 9% -265 -285 8% EBITDA 27 0 <-100% 145 161
Slide 27: Brazil (USD mn) quarterly results
Brazil (USD mn) Quarterly results Generation Grids Total1 Q3 2025 Q3 2026 % Q3 2025 Q3 2026 % Q3 2025 Q3 2026 % Revenues 358 322 -10% 1,978 2,140 8% 2,336 2,445 5% Procurements -168 -145 -14% -1,392 -1,507 8% -1,555 -1,630 5% and Services OPEX -32 -32 -1% -189 -211 11% -238 -264 11% EBITDA 158 144 -
Slide 28: Brazil (USD mn) cumulative results
Brazil (USD mn) Cumulative results Generation Grids Total1 9M 2025 9M 2026 % 9M 2025 9M 2026 % 9M 2025 9M 2026 % Revenues 966 1,164 21% 5,315 6,310 19% 6,279 7,410 18% Procurements -450 -633 41% -3,607 -4,267 18% -4,038 -4,836 20% and Services OPEX -94 -110 17% -529 -658 24% -686 -835 22% EBITDA 422
Slide 29: Colombia (USD mn) quarterly results
Colombia (USD mn) Quarterly results Generation Grids Total1 Q3 2025 Q3 2026 % Q3 2025 Q3 2026 % Q3 2025 Q3 2026 % Revenues 429 809 89% 558 781 40% 930 1,514 63% Procurements -173 -245 42% -302 -478 58% -416 -645 55% and Services OPEX -29 -37 27% -46 -59 29% -75 -96 28% EBITDA 227 527 >100% 211 244 1
Slide 30: Colombia (USD mn) cumulative results
Colombia (USD mn) Cumulative results Generation Grids Total1 9M 2025 9M 2026 % 9M 2025 9M 2026 % 9M 2025 9M 2026 % Revenues 1,223 1,787 46% 1,629 2,041 25% 2,688 3,633 35% Procurements -507 -604 19% -894 -1,174 31% -1,233 -1,582 28% and Services OPEX -77 -103 35% -150 -160 7% -228 -265 16% EBITDA 63
Slide 31: Central America (USD mn)
Central America (USD mn) Quarterly & cumulative results Central America Q3 2025 Q3 2026 % 9M 2025 9M 2026 % Revenues 88 85 -4% 253 244 -4% Procurements -24 -39 65% -73 -76 4% and Services OPEX -10 -8 -22% -26 -26 -1% EBITDA 54 38 -30% 154 143 -7% Net Income 30 15 -52% 76 65 -15% Gross Capex 4 4 17%
Slide 32: Peru (USD mn)
Peru (USD mn) Quarterly and cumulative results Peru Q3 2025 Q3 2026 % 9M 2025 9M 2026 % Revenues 16 33 >100% 53 72 36% Procurements -7 -21 >100% -23 -37 62% and Services OPEX -15 -2 -84% -20 -7 -65% EBITDA -6 10 <-100% 10 29 >100% Net Income -10 5 <-100% 1 14 >100% Gross Capex 1 1 10% 1 3 90% Net Pr
Slide 33: Consolidated financial position
Consolidated financial position Liquidity, debt maturities and credit profile Liquidity position Debt maturities (USD bn) Credit profile Average maturity of Baa3/Negative 3.6 3.2 years (April 2026) 41% BB+/Stable (April 2026) USD 3.4 bn 1.8 59% 1.3 1.2 BBB+/Stable (March 2026) 2026 2027 2028 After 2
Slide 34: Corporate governance structure
Corporate governance structure Shareholders’ meeting Audit firm 29% BoD’s 43% composition Board of Directors (7 members) 29% Executive of Enel Group Independent Non-executive elected by Enel SpA Functions: Directors Committee Audit committee Sustainability committee Related parties' transactions 34
Slide 35: Board composition
Board composition Board of Directors Board of Directors’ diversity Beatriz Saiz Chairwoman 29% Luca Lo Voi Director Gender diversity 71% Roberto Deambrogio Director Male Female Director José Antonio Vargas Directors’ Committee 14% 14% 29% Britaldo Soares Director Tenure 14% Nationality 14% diversity
Slide 36: Enel Américas - Policies, principles and codes
Enel Américas - Policies, principles and codes Ethics, Integrity, Human Rights, and Diversity • Ethical code • Zero Tolerance Plan for Corruption • Global Compliance Program on Corporate Criminal Liability • Criminal Risk Prevention Model • Compliance Program for Free Competition Regulations • Human
Slide 37: Disclaimer
Q3 & 9M 2026 Consolidated results Disclaimer This presentation contains statements that could constitute forward-looking statements. These statements appear in a number of places in this presentation and include statements regarding the intent, belief or current expectations of Enel Américas and its
Slide 38: Contact us
Q3 & 9M 2026 Consolidated results Contact us Contacts Email - [email protected] Channels Website Mobile App www.enelamericas.com Enel Américas Jorge Velis Head of Investor Relations Download App iOS Android Investor Relations team Nicolás Gracia Claudio Ortiz Sebastián Cisternas Francisco Bas
Slide 39: CNC
CNC