Auren Energia (AURE3) investor relations material

Market position and portfolio

• 3rd largest power generator in Brazil with 8.7 GW installed capacity, 100% renewable assets, and a leading energy trading platform.

• Portfolio is diversified across hydro, wind, and solar, minimizing exposure to submarket risks and generation seasonality.

• Highly contracted through 2028, with increasing exposure to rising energy prices from 2029 onward.

• Strong track record of value creation through disciplined M&A, integration, and capital allocation.

• Major shareholders include Votorantim and CPP Investments, providing global and local expertise.

Financial performance and capital structure

• 2025 net revenue of R$13.2 billion and adjusted EBITDA of R$4.0 billion; 2Q26 adjusted EBITDA at R$859 million.

• Net debt at R$18.9 billion with a deleveraging trajectory expected from 2027, targeting a leverage ratio of 3.0x–3.5x.

• Dividend distributions and strong cash flow supported by high contract coverage and operational efficiencies.

• Competitive cost of debt, well-distributed maturity profile, and robust cash position covering over three years.

Operational highlights and integration

• Successful integration of AES Brasil and CESP, exceeding synergy and cost-reduction targets, and accelerating operational milestones.

• Modulation gains in 2Q26 mitigated over 90% of curtailment impacts, reflecting portfolio resilience.

• Cajuína 3 wind project is 88% complete, with full commercial operation expected by December 2026.

• Implementation of Zero-Based Budgeting and corporate restructuring to optimize costs and efficiency.