Operating Data Preview 2021

Lisbon, January 20th, 2022

KEY HIGHLIGHTS

  • Renewables represented 75% of EDP's electricity generated in 2021. Wind generation increased +5% YoY, mainly driven by Europe and Brazil, as a result of higher installed capacity. On the other hand, Hydro output decreased significantly mainly due to the 1.7 GW disposal of 6 hydro plants in Portugal in Dec-2020, which contributed with 3.4 TWh generation in 2020. Excluding this impact, Hydro production in Iberia decreased by 1% YoY, mainly due to a weak hydro production in 4Q21 (hydro generation coefficient in 4Q21 was 57% below historical average).
  • During 2021, hydro generation coefficient, in Portugal, was 7% below historical average. Brazil witnessed a historically dry season, reverted in 4Q21, maintaining the load factor in line with 2020. The improvement in hydro situation in Brazil resulted in the interruption of coal generation, that did not produce since mid-Dec-21. Overall, wind load factor was 30%, in line with 2020, 4% below GCF long term average, following the recovery of renewable resource in 4Q21 to 3% below LT average (4% above LT avg. in Europe in 4Q21).
  • Since the beginning of the year, +2.3 GW (EBITDA + Eq. MW) of wind and solar of gross capacity were added to the portfolio and by the end of Dec-21,we had 1.8 GW of capacity under construction. Following the successful completion of the Asset Rotation deals in the US and Portugal, net capacity additions amounted to +1.4 GW (EBITDA + Equity GW).
  • Electricity distributed volumes in Portugal increased +1% in the 2021. In Spain, the 87% increase in electricity distributed is mainly justified by the acquisition of Viesgo in Dec-20.In Brazil, electricity distribution rose by +6% YoY, also as a result of the economic recovery.
  • In the supply business, in Iberia, electricity volume sold increased 2% YoY, supported by the growth of volumes sold to business clients in Spain, namely in 4Q21. On Gas, volumes sold decreased 30% YoY, following the disposal of the residentials energy supply activities in Spain in Dec-20.
  • The average electricity spot price for 2021 reached €111.9/MWh, following the sharp increase in 2021, in particular in 4Q21 that registered an average spot price of €211.1/MWh.

INSTALLED CAPACITY

Installed capacity | Dec-21

EBITDA MW (1)

1%

8%

12%

2%

24.7 GW 48%

29%

80%

Renewables

Wind

Hydro

Solar

Gas

Coal

Other

  1. Does not include 401 MW of Installed capacity and 162 MW of Under construction capacity as of Dec-21 relating to Sunseap acquisition

ELECTRICITY GENERATION

Capacity evolution | YoY

EBITDA MW

(1)

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

Capacity under construction | Dec-21 1,824 MW (2)

  1. Includes equity participations in offshore

MW

Dec-21

Dec-20

%

Wind

11,845

11,155

+690

+6%

North America

6,079

6,005

+74

+1%

Europe

5,175

4,714

+461

+10%

Brazil

591

436

+156

+36%

Hydro

7,127

7,127

Iberia (1)

5,527

5,527

Brazil

1,599

1,599

Solar

645

345

+300

+87%

North America

358

290

+68

+23%

Europe

55

55

Brazil and other

232

+232

Gas Iberia

2,886

2,886

Coal

1,970

1,970

Iberia

1,250

1,250

Brazil

720

720

Other (2)

178

198

-19

-10%

EBITDA MW

24,651

23,680

+971

+4%

Equity MW

1,651

1,229

+422

+34%

EBITDA + Equity MW

26,301

24,909

+1,392

+6%

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

Electricity generation | 2021

GWh

2021

2020

%

4Q21

4Q20

%

Wind

29,592

28,272

+1,320

+5%

8,628

8,137

+491

+6%

2%

North America

16,468

17,231

-763

-4%

4,515

4,982

-467

-9%

12%

Europe

11,281

9,949

+1,332

+13%

3,473

2,847

+627

+22%

Brazil

1,843

1,093

+750

+69%

639

308

+331

+108%

11%

Hydro

15,283

18,792

-3,509

-19%

3,958

5,202

-1,245

-24%

60.9 TWh 49%

Iberia

(1)

9,805

13,249

-3,444

-26%

2,150

3,653

-1,503

-41%

1%

Brazil

5,478

5,543

-65

-1%

1,808

1,549

+259

+17%

Solar

733

266

+467

+176%

256

46

+210

+452%

North America

589

190

399

+210%

177

36

140

+388%

25%

Europe

76

75

+1%

11

10

+2

+16%

75%

Brazil and other

68

0

+68

54

0

+54

Gas Iberia

6,435

9,759

-3,325

-34%

2,068

1,943

+125

+6%

Renewables

Coal

7,569

5,821

+1,747

+30%

2,480

2,665

-185

-7%

Wind

Hydro

Solar

Iberia

4,152

4,235

-83

-2%

1,534

1,598

-64

-4%

Gas

Coal

Other

Brazil

3,417

1,586

+1,831

+115%

946

1,067

-121

-11%

Other (2)

1,318

1,407

-89

-6%

351

401

-50

-12%

Total

60,929

64,318

-3,389

-5%

17,741

18,394

-653

-4%

LOAD FACTORS

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

Load factors

2021

2020

4Q21

4Q20

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

Hydro resources deviation vs.

Wind

30%

30%

33%

34%

Gross Capacity Factor | 2021 vs 2020

historical avg. | 2021 vs 2020

North America

31%

33%

34%

37%

Europe

27%

26%

32%

30%

Brazil

41%

38%

39%

42%

Hydro

Iberia(1)

20%

21%

18%

30%

Brazil

39%

39%

51%

44%

Solar

25%

21%

15%

6%

-3%

North America

29%

24%

18%

6%

Europe

16%

16%

9%

8%

-4%

-4%

Gas Iberia

25%

30%

32%

30%

-7%

Coal

2021

2020

38%

20%

56%

58%

2021

2020

Iberia

Brazil

54%

25%

59%

67%

Other(2)

84%

81%

89%

92%

Investor Relations Department

Phone: +351 21 001 28 34

Email: ir@edp.com

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

www.edp.com

Operating Data Preview 2021

Lisbon, January 20th, 2022

ENERGY SUPPLY

Volumes of electricity supplied in Iberia - Liberalized | 2021

Volumes supplied (GWh)

No. of Clients (th)

2021

2020

%

4Q21

4Q20

%

Dec-21

Dec-20

%

29%

Electricity Iberia

30,896

30,298

+2%

8,179

7,636

+7%

4,975

5,015

-1%

Portugal Liberalized

17,656

17,095

+3%

4,694

4,456

+5%

4,022

4,028

-0%

28.6 TWh

Portugal Regulated

2,280

2,413

-5%

585

646

-9%

930

965

-4%

Spain

10,959

10,790

+2%

2,900

2,535

+14%

23

22

+5%

71%

Gas Iberia

8,219

11,710

-30%

2,088

2,964

-30%

687

691

-1%

Portugal Liberalized

4,247

4,127

+3%

1,070

1,131

-5%

650

651

-0%

Business Residential

Portugal Regulated

155

167

-8%

28

30

-6%

32

34

-6%

Spain

3,818

7,416

-49%

989

1,803

-45%

4

6

-19%

ELECTRICITY DISTRIBUTION

Iberia

2021

2020

%

Electricity distributed (GWh)

62,889

55,804

+7,085

+13%

Portugal(1)

48,772

48,245

+527

+1%

Spain

14,117

7,559

+6,558

+87%

Customers connected (th)

7,713

7,673

+40

+1%

Portugal

6,336

6,302

+34

+1%

Spain

1,376

1,371

+6

+0%

  1. Electricity volume that entered the distribution grid

Brazil

2021

2020

%

Electricity distributed (GWh)

26,016

24,570

+1,446

+6%

Final customers

13,565

13,427

+138

+1%

Access customers

12,451

11,143

+1,308

+12%

Customers connected (th)

3,680

3,601

+80

+2%

EDP São Paulo

2,024

1,980

+43

+2%

EDP Espírito Santo

1,657

1,620

+36

+2%

MARKET INDICATORS

Iberian market

2021

2020

%

Average electricity spot price - Spain

€/MWh

111.9

34.0

+230%

Hydro coefficient - Portugal

1.0 = avg. Year

0.93

0.97

-4%

Hydro coefficient - Spain

1.0 = avg. Year

0.90

1.00

-10%

Wind coefficient - Portugal

1.0 = avg. Year

1.01

0.94

7%

Brazilian market

Average spot price (PLD)

R$/MWh

280

177

58%

Generation Scalling Factor (GSF) (1)

%

73%

80%

-9%

Exchange rates

EUR/USD

-

Average

1.18

1.14

-3%

EUR/BRL

-

Average

6.38

5.89

-8%

EUR/USD

-

End of period

1.13

1.23

8%

EUR/BRL

-

End of period

6.31

6.37

1%

  1. Weighted average

KEY ANNOUNCEMENTS

16-Dec-2020EDP Concludes The Acquisition of Viesgo

17-Dec-2020EDP concludes the sale of a portfolio of 6 hydro plants in Portugal for €2.2 billion

21-Jul-2021Asset rotation deal for 221 MW wind portfolio

04-Aug-2021EDP signs asset rotation deal of a 149 MW wind portfolio for an EV of €303 million

25-Oct-2021EDP Brasil announces program for acquisition of treasury shares and hydro disposal process

27-Oct-2021EDP and Sonatrach terminate partnership

03-Nov-2021EDP establishes growth platform for APAC through the acquisition of Sunseap

15-Nov-2021EDP signs asset rotation deal of a 181 MW operating wind portfolio in Spain

15-Dec-2021ERSE announces electricity tariffs for 2022 and parameters for2022-2025

17-Dec-2021Ocean Winds secures a20-yearPPA for 400 MW in the US

28-Dec-2021EDP completes asset rotation deal of transmission lines in Brazil

30-Dec-2021EDP completes asset rotation deal of a 200 MWac solar project in the US

30-Dec-2021EDP concludes a build & transfer agreement for a 302 MW wind farm project in the US

YE21 RESULTS RELEASE

EDP's YE21 results will be released on February 18th, 2022. A conference call will be hosted by EDP's CEO, Mr. Miguel Stilwell d'Andrade and EDP's CFO, Mr. Rui Teixeira, the day after, at 11:30 GMT. More information will be available onwww.edp.com.

Investor Relations Department

Phone: +351 21 001 28 34

Email: ir@edp.com

www.edp.com

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Disclaimer

EDP - Energias de Portugal SA published this content on 20 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 January 2022 17:20:07 UTC.