EDP Energias de Portugal S A : Apresentação de Resultados 9M20

Lisbon, October 30th, 2020

This document has been prepared by EDP - Energias de Portugal, S.A. (the "Company") solely for use at the presentation to be made on this date and its purpose is merely of informative nature and, as such, it may be amended and supplemented. By attending the meeting where this presentation is made, or by reading the presentation slides, you acknowledge and agree to be bound by the following limitations and restrictions. Therefore, this presentation may not be distributed to the press or to any other person in any jurisdiction, and may not be reproduced in any form, in whole or in part for any other purpose without the express and prior consent in writing of the Company.

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9M20 RESULTS PRESENTATION

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Recovery in 3Q20 vs. 2Q20 of electricity demand and prices in our main markets

75% EBITDA from long-term contracted and regulated activities

Renewables: 20 GW installed by Sep-20, with +6.5 GW secured (+0.7 GW closed YTD)

Positive developments regarding public support for renewables (EU, US)

Viesgo acquisition (electricity network & wind); Disposal of 2 CCGT and B2C supply in Spain Early coal shutdown in Iberia; €1.1bn renewable asset rotation in Europe & US

€1bn rights issue (8.45% of share capital) closed in Aug-20

€2.2bn bonds issued in 2020 YTD at 1.7% avg cost: Green bonds represent 30% of total debt

9M20 RESULTS PRESENTATION

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EBITDA: -2% YoY

Recovery of hydro production in Iberia and good results in energy management

Electricity demand decline YoY, Brazilian Real devaluation vs. Euro (-23%), weak wind resources

Recurring Net Profit: +14% YoY

Avg cost of debt -80bps to 3.2%

Reported Net Profit €422m (-8% YoY), penalized by one-offs (coal shutdown in 2Q, CMEC provision in 3Q)

Net debt: -6% YTD to €13.0bn

Recurring Organic Cash Flow +36% YoY to €1.4bn

Gross expansion investments +58% YoY to €2.1bn, of which 89% renewables)

CO2 emission factor: -47% YoY

Renewables production +10% YoY making up 74% of generation mix, CO2 emissions -50% YoY

1. Based on Reported Net Debt excluding net Regulatory Receivables and last 12 months of recurring EBITDA

EBITDA

Recurring Net Profit

Net Debt / EBITDA(1)

gCO2/kWh

9M20 RESULTS PRESENTATION

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