EDP Energias de Portugal S A : Results Presentation 9M22

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9M22 | Results Presentation

2

Agenda

1 Update on Strategy Execution

1. 9M22 Results
2. Closing Remarks
3. Q&A

Strong EBITDA performance on Renewables, Networks and Thermal offset

at Net Profit level by higher financial costs due to macro environment

9M22 Key Figures

Reported	€3,046m
EBITDA	(+21% YoY)

Reported	€518m
Net Profit	(+1% YoY)

Gross	€5.5Bn
Investments	(+2x YoY)

Highlights

Good performance on Wind & Solar, Electricity

Networks and Thermal generation

-3.3 TWh Hydro shortfall in Iberia (vs -2.8TWh in

1H22)

Higher financial costs mainly impacted by Brazil and forex

Solid investment execution, 96% on renewables and electricity networks.

• Record of 4.3 GW of renewables capacity under construction in 15 markets
• Transmission networks growth in Brazil

9M22 | Results Presentation

4

2023 electricity regulated tariffs proposal in Portugal (Oct.17th): Despite high

electricity wholesale prices, retail tariffs stable, system debt down by €2bn

Reg. Electricity Tariff components	Wholesale Price vs Renewables FiT
Residentials end-user tariffs2;	€/MWh
	Energy component	Global use of system tariff 3			Renewable feed-in Tariffs1
	Network access tariff				Avg. Electricity Wholesale Price
					186

			160%	103		112
39%	90%	90%		91	93
26%					59
35%	27%	26%	26%
	-17%	-16%	-85%

2021

3Q22

4Q22

2023

2020

2021

9M22

Electricity System Debt

€Bn

3.5

1.7

1.4

2020 2021 9M22

∆
Regulated	+1.8%	+2.8%
Electricity
Tariff	'22 Vs. '21	'23 Vs. '22

Decrease in global use of system

component due to renewables feed-in tariff surplus and proceeds from CO2 auctions, provide relatively stable regulated residential tariffs

% of SRP1 that covers low-voltage consumption

107% 108% 78%

Stable renewables feed-in tariffs moved from a premium to a discount vs.

wholesale price (€262/MWh assumed

for 2023), generating a tariff surplus to

Portuguese electricity consumers

Continuous Portuguese system debt decline… -€2.1Bnbetween 2020 and

9M22

(1) Special Regime Production, including renewables and cogeneration - Source: ERSE | (2) Low-voltage clients (residentials & SMEs)	9M22 | Results Presentation	5
(3) Renewables spread included in this component