Enel Americas S.a. · BCS:ENELAM
Enel Americas — Q1 2026 Earnings Presentation
33 slides from Enel Americas's earnings presentation, Apr 30, 2026
Slide 1: Enel Américas First Quarter Consolidated results
First Quarter Enel Américas Consolidated results April 30th, 2026
Slide 2: Key highlights and operational performance
Q1 2026 Key highlights and operational performance Giuseppe Turchiarelli CEO
Slide 3: Q1 2026 Key highlights
Q1 2026 Key highlights Investments Investments aligned with Strategic Plan goals CAPEX +4% increase on investments, aligned with implemented tariff scheme USD 0.45 bn Grids CAPEX increased 42% mainly focused on digitalization and resilience +10% YoY Lower investments execution due to completion of G
Slide 4: Regulatory scenario
Regulatory scenario Key recent and expected developments for our main markets Relevant topics Framework agreement signed with the Energy Secretariat, recognizing electricity consumption in low-income neighborhoods, with compensation of energy purchases from CAMMESA from 2024 to March 2026. This repr
Slide 5: Gross CAPEX
Gross CAPEX Focus on Grids aligned with Strategic Plan goals; Brazil leads CAPEX growth CAPEX by country and business1 Grids CAPEX breakdown2 Networks upgrade 1% growth 11% 12% +50% YoY 21% 33% 37% USD 446 mn USD 446 mn USD 391 mn (+10% YoY) (+10% YoY) (+30% YoY) 68% 88% 30% Argentina Colombia Grids
Slide 6: 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) +2% +377k Q1 2025 Q1 2026 Q1 2025 Q1 2026 Edesur 16.5 17.5 8.2 9.3 22.7 23.1 27.6 28.2 Enel São
Slide 7: Installed capacity & net production
Installed capacity & net production Lower hydro generation in Colombia and lower wind resources in Brazil Net installed capacity (GW) Net production1 (TWh) Enel Américas1 Colombia & Capacity Brazil 96% by country Central America 4% renewables -8% -28% 6.6 GW 9.6 Curtailment 0.8 0.6 - - 0.2 8.8 (TWh)
Slide 8: Energy balance
Energy balance Lower sales mainly explained by lower production and lower trading activity Energy balance (TWh) Enel Américas1 -8% Colombia & 12.0 12.0 Brazil Central America 0.3 11.0 11.0 2.4 0.1 -9% -5% 2.1 6.8 6.8 6.3 5.1 0.1 6.2 6.2 5.2 5.2 5.0 5.0 1.9 0.3 0.5 0.4 0.2 0.5 1.5 1.3 1.1 5.0 4.0 9.6
Slide 9: Economic and financial performance
Q1 2026 Economic and financial performance Rafael de la Haza CFO
Slide 10: Financial highlights
Financial highlights EBITDA growth led by Grids in Argentina, Brazil and Colombia EBITDA Net income FFO (USD bn) (USD bn) (USD bn) +16% +9% -84% 1.2 1.0 0.3 0.5 0.2 0.1 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 EBITDA increase mainly due to higher tariff Net income improvement on higher EBITDA
Slide 11: EBITDA breakdown: Q1 2026 results
EBITDA breakdown: Q1 2026 results Growth in Grids positive Fx dynamics boosted EBITDA EBITDA evolution by business line (USD mn) EBITDA breakdown 5% +16% 1% 5% Argentina +5% Brazil 1,174 USD Colombia 50% 1,070 103 1,174 mn Peru 1,015 (4) 39% 124 C. America (64) 1% 34% Grids USD Integrated business 1
Slide 12: Cash flow (USD bn)
Cash flow (USD bn) Positive FFO despite NWC pressure in Brazil 1.17 (0.79) (0.18) (0.13) 0.08 (0.45) (0.37) 1 2 3 4 EBITDA NWC Taxes paid Net financial FFO CAPEX FCF expenses Q1 2025 1.02 (0.34) (0.10) (0.10) 0.47 (0.41) 0.06 Rounded figures. (1) Net working capital; (2) Funds from operations; (3) C
Slide 13: Debt (USD bn)
Debt (USD bn) Net debt increase due to Fx appreciation, dividend payments and negative FCF Gross and net debt1 Net debt evolution Gross debt breakdown +8% +17% 9% 3% 7.4 1% 6.8 BRL Currency 1.7 USD COP 2.0 5.6 52% USD 4.8 0.1 0.4 7.4 bn 0.4 36% ARS PEN 5.6 4.8 3% 8% 1% Brazil Dec. 25 Mar. 26 Dec. 25
Slide 14: Closing remarks
Closing remarks Continued capital allocation in Grids at the core of our 1 strategy Strong results led by Grids across all countries and currency 2 appreciation Focus on regulatory advocacy efforts to ensure business 3 continuity 14
Slide 15: Q1 2026 Annexes
Q1 2026 Annexes enel
Slide 16: Current scenario
Current scenario Local currencies, inflation, electricity distributed and interest rates Macroeconomic variables1 Electricity distributed Interest rates Local currencies Inflation3 vs USD ∆% Q12 March March ‘26 vs ‘25 2025 2026 Argentina 0.4% March March Argentina -29% 55.9% 32.6% 2025 2026 Brazil 1
Slide 17: Operating exhibits: Distribution companies
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 2,745,351 17,670 17.5 9.3 17.5% Buenos Aires, Argentina 3,309 2030 Enel Ceará 4,352,503 15,976 8.8 4.7 18.0%
Slide 18: 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 1,148 0 224 4,470 Central America 543 0 162 0 0 705 Peru 0 0 0
Slide 19: Financial exhibits
Financial exhibits Reported results Q1 2026 Q1 2025 ∆YoY Revenues 3,924 3,297 +19% Gross Margin 1,647 1,428 +15% OPEX (473) (413) +15% Reported EBITDA 1,174 1,015 +16% D&A1 (408) (361) +13% EBIT 766 654 +17% Net financial results (150) (163) -8% Non operating results 0 (1) <-100% EBT 616 489 +26% In
Slide 20: Grids business results
Grids business results Quarterly results Q1 EBITDA evolution (USD mn) YTD EBITDA by country (USD mn) +30% 798 8% 613 31% 798 (+30% YoY) 61% Q1 2025 Q1 2026 Argentina Brazil Colombia 20
Slide 21: Generation business results
Generation business results Quarterly results Q1 EBITDA evolution (USD mn) YTD EBITDA by country (USD mn) -6% 407 382 14% 29% 382 (-6% YoY) 57% Q1 2025 Q1 2026 Brazil Colombia C. America 21
Slide 22: Argentina (USD mn)
Argentina (USD mn) Quarterly results Generation1 Grids1 Total2 Q1 2025 Q1 2026 % Q1 2025 Q1 2026 % Q1 2025 Q1 2026 % Revenues 13 2 -87% 410 419 2% 423 421 0% Procurements -1 0 -87% -276 -265 -4% -277 -265 -4% and Services OPEX -3 -2 -33% -112 -90 -20% -115 -92 -20% EBITDA 9 0 <-100% 22 65 >100% 31 6
Slide 23: Brazil (USD mn)
Brazil (USD mn) Quarterly results Generation1 Grids1 Total2 Q1 2025 Q1 2026 % Q1 2025 Q1 2026 % Q1 2025 Q1 2026 % Revenues 295 446 51% 1,577 2,018 28% 1,875 2,449 31% Procurements -136 -301 >100% -1,012 -1,299 28% -1,142 -1,579 38% and Services OPEX -29 -35 21% -176 -230 31% -223 -283 27% EBITDA 130
Slide 24: Colombia (USD mn)
Colombia (USD mn) Quarterly results Generation1 Grids1 Total2 Q1 2025 Q1 2026 % Q1 2025 Q1 2026 % Q1 2025 Q1 2026 % Revenues 411 383 -7% 540 629 16% 899 961 7% Procurements -176 -130 -26% -301 -334 11% -423 -413 -2% and Services OPEX -22 -35 59% -39 -50 30% -61 -86 40% EBITDA 213 218 2% 200 245 22%
Slide 25: Central America (USD mn)
Central America (USD mn) Quarterly results Central America Q1 2025 Q1 2026 % Revenues 83 76 -9% Procurements -20 -13 -34% and Services OPEX -7 -8 5% EBITDA 56 55 -1% Net Income 29 27 -6% Gross Capex 1 2 30% Net Production 733 717 -2% (GWh) Energy Sales 888 829 -7% (GWh) 25
Slide 26: Peru (USD mn)
Peru (USD mn) Quarterly results Peru Q1 2025 Q1 2026 % Revenues 18 16 -8% Procurements -7 -7 -5% and Services OPEX -3 -2 -30% EBITDA 8 8 -4% Net Income 10 4 -61% Gross Capex 0 2 >100% Net Production 75 74 -1% (GWh) Energy Sales 107 87 -19% (GWh) 26
Slide 27: 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 3.2 3.3 years (April 2026) 40% 2.3 BB+/Stable (April 2026) USD 2.9 bn 60% 1.0 0.9 BBB+/Stable (March 2026) 2026 2027 2028 After 2
Slide 28: Corporate governance structure
Corporate governance structure Shareholders’ meeting Audit firm 29% BoD’s composition 14% Board of Directors 57% (7 members) Executive of the Enel Group Independent Non-executive elected by Enel SpA Functions: Directors Committee Audit committee Sustainability committee Related parties' transactions
Slide 29: Board composition
Board composition Board of Directors Board of Directors’ diversity Borja Acha Besga Chairman 14% Luca Lo Voi Director Gender diversity Roberto Deambrogio Director 86% Male Female Director José Antonio Vargas Directors’ Committee 14% 14% Britaldo Soares Director 14% 14% 29% Tenure Nationality diversi
Slide 30: 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 31: Disclaimer
Q1 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 mana
Slide 32: Contact us
Q1 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 Basauri
Slide 33: CNC
CNC