EDP - Energias de Portugal, S.A. informs: Operating Data Preview 1Q22

Operating Data Preview 1Q22

Lisbon, April 19th, 2022

KEY HIGHLIGHTS

• • Since the beginning of the year, +0.5 GW of wind and solar capacity were added to the portfolio, and by the end of Mar-22, we had 2.4 GW of capacity under construction.

• • Renewables represented 75% of EDP's electricity generated in 1Q22. Wind and Solar generation increased +1.1TWh as result on wind & solar resources 2% above LT average (vs. -3% vs. LT avg. in 1Q21), and as a result of higher installed capacity.

• • In Portugal, the October 2021 to March 2022 rainy season was the driest since 1931, resulting in abnormally low waterflow in 1Q22, 70% below historical avg. in Portugal (and 50% below historical avg. in Spain). Consequently, hydro generation decreased significantly to 1.5TWh in 1Q22, -64% YoY and 2.6TWh below average. This extreme low hydro generation volume implied a short position in the wholesale electricity market as circa 100% of the expected generation volumes were hedged through fixed prices with customers. This uncorrelated combination resulted in a material negative impact in 1Q22, which is expected to be mitigated in the following quarters by higher than expected thermal production.

• • In 1Q22, in Brazil, the improvement in hydro situation resulted in zero coal generation. In Iberia, thermal generation increased, both in coal and CCGT, to 3.9 TWh, +1.7 TWh YoY, following the low hydro generation in Iberia and the increase of net exports to France.

• • In the supply business, in Iberia, electricity volume sold increased 16% YoY, supported by the growth of volumes sold to business clients in Spain. On Gas, volumes sold decreased 5% YoY.

• • Electricity distributed in Portugal increased by +3% in the 1Q22, mainly justified by the recovery of the small industry and services sector. In Spain, electricity distributed decreased by 3% YoY. In Brazil, electricity distribution rose by +2% YoY, mainly because customers connected also increased 2% YoY.

• • The average electricity spot price for 1Q22 reached €229/MWh, the highest ever recorded in a quarter.

INSTALLED CAPACITY

Installed capacity | Mar-22 EBITDA MW

Capacity evolution | YoY EBITDA MW

WindGas

(1) The YoY variation considers the decommissioning of the original 151MW related to Blue Canyon II Repowering

HydroCoalSolarOther

Capacity under construction | Mar-22

2,373 MW

ELECTRICITY GENERATION

(1) Includes small-hydro; (2) Nuclear, Cogeneration & Waste

Electricity generation | 1Q22

GWh Wind

1Q22

1Q21

DD %

WindGas

HydroCoal

North America Europe

South America & APACHydro

Iberia(1)

Brazil Solar

North America

Europe

South America & APAC

Gas Iberia

Coal

SolarOther

Iberia

Brazil

Other (2)

Total

8,964	8,067	+898 +550 +181 +166	+11% +12% +5% +74%
5,063	4,513
3,511	3,330
390	224
3,575	6,004	-2,429 -2,735 +306	-40% -64% +18%
1,547	4,282
2,028	1,723
273	53	+220 +45 +3 +172	+416% +118% +18%
84	38
17	14
172	0
2,068	798	+1,270	+159%
1,802	1,344	+458 +1,114 -656	+34% +162% -100%
1,802 0	688 656
373	348	+25	+7%
17,055	16,613	+442	+3%

(1) Includes small-hydro; (2) Nuclear, Cogeneration & Waste

LOAD FACTORS

(1)

W&S Production deviation vs. exp. LT avg.

Gross Capacity Factor | 1Q22 vs 1Q21

Hydro resources deviation vs. historical avg. | 1Q22 vs 1Q21

2%

28%

-3% 1Q21

1Q22

-70% 1Q22

1Q21

(1) Does not consider W&S Production for the APAC region

Investor Relations Department

Phone: [phone]

Email:[e-mail]

(1) Includes small-hydro; (2) Nuclear, Cogen. & Waste

www.edp.com

(1) Includes small-hydro; (2) Nuclear, Cogen. & Waste

Operating Data Preview 1Q22

Lisbon, April 19th, 2022

ENERGY SUPPLY

Volumes of electricity supplied in Iberia - Liberalized | 1Q22

Volumes supplied (GWh)

No. of Clients (th)

BusinessResidential

ELECTRICITY DISTRIBUTION

1Q22

1Q21

D %

Mar-22 Mar-21

D %

Iberia

1Q22

1Q21

DD %

Electricity distributed (GWh)

Portugal

Spain

15,356 11,925 3,431

15,175 11,631 3,545

+181 +294 -114

+1% +3% -3%

MARKET INDICATORS

Brazil

1Q22

1Q21

DD%

Electricity distributed (GWh) 6,721

Final customers 3,598

Access customers 3,123

6,605 3,549 3,056

• +116 +2%

• +49 +1%

• +67 +2%

Customers connected (th) 3,698

EDP São Paulo 2,023

EDP Espírito Santo 1,674

3,618 1,993 1,625

• +80 +2%

• +30 +2%

• +50 +3%

Iberian market

1Q22

1Q21

D%

€/MWh

Average electricity spot price - Spain Hydro coefficient - Portugal Hydro coefficient - Spain Wind coefficient - Portugal €/MWh 1.0 = avg. Year 1.0 = avg. Year 1.0 = avg. Year	229.4	45.2 +407% 1.28 -77% 1.30 -62% 1.02 -9%
0.30
0.50
0.93
Brazilian market Average spot price (PLD) Generation Scalling Factor (GSF) (1)R$/MWh %	173 88% -66% 9%
58
95%
Exchange rates EUR/USD - Average EUR/BRL - Average EUR/USD - End of period EUR/BRL - End of period	1.20 6.60 1.17 6.74 7% 12% 6% 27%
1.12
5.87
1.11
5.30

(1) Weighted average

KEY ANNOUNCEMENTS

17-Jan-2022	Ocean Winds is awarded with exclusive rights to develop around 1 GW offshore wind project in Scotland
25-Jan-2022	EDP sells €562 million of portuguese tariff deficit
28-Jan-2022	EDP completes asset rotation deal of a 221 MW wind portfolio for an EV of €534 million
07-Feb-2022	EDP Energias do Brasil concludes investment in CELG-T
24-Feb-2022	Completion of Sunseap acquisition in the APAC region
27-Feb-2022	Ocean Winds is awarded lease area to develop up to 1.7 GW offshore wind project in the US
10-Mar-2022	Completion of the substitution of the issuer of Notes issued by Viesgo Group
14-Mar-2022	EDP issues a €1,250 million 7.5 year green bond

1Q22 RESULTS RELEASE

EDP's 1Q22 results will be released on May 5th, 2022. A conference call will be hosted by EDP's CEO, Mr. Miguel Stilwell d'Andrade and EDP's CFO, Mr. RuiTeixeira, the day after, at 11:30 GMT. More information will be available onwww.edp.com.

Investor Relations Department

Phone: [phone]

Email:[e-mail]

www.edp.com