EQUITY STORY

Apr/2024

DISCLAIMER

The statements in this report related to the business prospects of ISA CTEEP ("ISA CTEEP", "CTEEP", "Company"), projections and

growth potential are merely forecasts and were based on the management's expectations regarding the future of the Company. These

expectations are highly dependent on market changes, the general economic performance of Brazil, the sector and the international

markets, and are subject to changes.

Forward-looking statements are not guarantee of future performance. They involve risks, uncertainties and assumptions as they refer

to future events and depend on circumstances that may or may not occur.

Investors must understand that general economic conditions, market conditions, and other operating factors may affect the future

performance of ISA CTEEP and lead to results that differ significantly from those expressed in the forward-looking statements.

The financial information has been prepared in accordance with standards established by the Securities and Exchange Commission of Brazil (CVM), announcements by the Accounting Pronouncements Committee (CPCs), and the International Financial Reporting Standards (IFRS) issued by the International Accounting Standard Board (IASB). The Regulatory Result is presented in accordance with the accounting practices adopted in Brazil and its purpose is to help understand ISA CTEEP's business. Sums may differ due to roundoffs. The Regulatory Result is audited only at the end of each year by independent auditors.

2

ISA

MULTILATIN COMPANY recognized for its operational excellence

Energy

Telecom

Toll Roads

América

Central

48.766 KM(1)

Colômbia

Of transmission

Brasil

lines

Peru

Bolívia

104.438 MVA(2)

Chile

Argentina

Transformation

capacity

(1)

Corresponds to 100% of the infrastructure of each company (not weighted by ISA's interest)

(2)

Only operational Assets, desconder projects under construction

3

ADVANTAGES

Generate Sustainable

1

PREDICTABLE REVENUES PROTECTED AGAINST INFLATION

Value

Revenue according to network availability, without risk of

demand or price and adjusted annually by the IPCA

Create positive social and

2

CONSISTENT AND PROFITABLE GROWTH

environmental impacts

Winning of bids for 19 lots with revenue¹ of R$1.6 billion and

double-digit IRR² since 2016

Generate value for

3

EXCELLENCE IN PROJECT MANAGEMENT & INNOVATION

(3)

Average anticipation of 7 months with average savings of 35% in CAPEX

shareholders

Ensure business

4

SUSTAINABLE & SUPERIOR SHAREHOLDER RETURN

longevity

ISA CTEEP's dividend practice distribute at least 75% of regulatory net income

5

WELL POSITIONED TO CAPTURE FUTURE GROWTH OPPORTUNITIES

(1)

RAP cycle 2023/2024

(2) Real Internal rate of return

(3) Considers assets fully owned by ISA CTEEP that have been won in bids since 2016 and have already been energized, saving against ANEEL benchmarking

4

REVENUE PROTECTED

FROM INFLATION, VOLUME AND PRICE RISK

Contracted Revenue(1) breakdown

Concession Type

R$ billion

16%

R$ 3.7 billion

Original Concession:

Organic Growth

(O&M + R&I)(2)

▪ Recurring capex

opportunity without

competition

Original Concession:

RBSE Revenue

▪ Remuneration for non-

depreciated assets at the

time of contract extension

New Concessions

(Type 2 and 3)

▪ Newer, long term

concession, indexed to

inflation (IPCA)

R$ 6.2

35%

25%

billion

59%

65%

▪

Low-risk,in-house

organic growth

potential

▪

Indexed to inflation

(IPCA)

▪

Offers firepower for growth

opportunities

▪

Indexed to inflation (IPCA)

▪ Critical to renew and extend

duration of the asset

portfolio

▪ Possibility of reinforcement

capex (on demand)

1 Concession

34 Concessions

Concessions Portfolio

Original Concession (Contract 059)

New Concessions - Operational

New Concessions - Under Construction

Original Concessions

(Contract 059)

RBSE Receivables

Organic Growth

(O&M + R&I)(2)

21% of Contracted

38% of Contracted

Revenue(1)

Revenue(1)

19-year remaining

20-year remaining

concession term

concession term(3)

41% of Contracted

Revenue(1)

24-year remaining concession term(4)

(1) Annual Permitted Revenue (RAP) cycle 2023/2024 | (2) Operation and mainteinance + Retrofitting and Improvements | (3) Most receivables are focused on the next 5 years | (4) Weighted average by RAP cycle 2023/2024

5

DISCIPLINED & SUSTAINABLE

GROWTH TRACK-RECORD

STABILIZATION

GROWTH

6,2

Contracted Revenue Evolution (1)

4,9

Assets in operation and under construction

3,3

4,3

3,8

(R$ billion)

3,4

3,5

0,8

0,9

1,1

1,2

1,3

Acquisition of

Beginning of RBSE

Auction

1 full concession

Receivables in the Original

16 more lots won

Concession (059/2001)

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

Renewal of the

Auction

Acquisition of 4 concessions

Conclusion of 12 projects

Original Concession

3 lots won

3 partial and 1 full

+R$ 644.8 million in Contracted Revenue(2)

(059/2001) for 30 years

(1) Nominal RAP Cycle, consider RAP from RBSE and Adjustment Portion (PA) | (2) Annual Permitted Revenue (RAP) cycle 2023/2024

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PORTFOLIO EXPANSION

FAVOURING REVENUE DIVERSIFICATION

B a l a n c e d M i x b e t w e e n r e v e n u e f r o m s R e n e w e d a g r e e m e n t a n d b i d i n o p e r a t i o n

R A P ( 1 ) A S S E T S U N D E R O P E R AT I O N ( e x - R B S E ) ( 2 )

Revenue by type of agreement

Diversification by type of agreement¹

R$ million

Cycle 13/14

Cycle 23/24

1,570

CAGR(3):

1,296

CAGR(3):

12.7%

55%

CAGR(3):

17.0%

39%

R$ 866

R$ 2,866

9.2%

539

million

million

327

61%

45%

Cycle 13/14

Cycle 23/24

Cycle 13/14

Cycle 23/24

CAGR(3) IPCA in the period: 6.1%

Agreement renewed (059)

Bidded agreements in operation

(1) Annual Permitted Revenue (RAP) cycle 2023/2024 | (2) Considers Adjustment Portion (PA) | (3) CAGR: Compound Annual Growth Rate

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CONSISTENT GROWTH

ACROSS SEVERAL KPIs

2013

2023

Contracted Revenue

(Operational ex-RBSE)

Market Share¹ of Contracted Revenue

Concessions avg. term²

Number of Concessions

Transmission lines³

R$ 866 mm

9.0%

Jun/41

15

14,000 km

+231%

+257 bps

+52 months

+133%

+ 113%

R$ 2,866 mm

11.6%

Oct/45

35

23,000 km

¹ List of ANEEL modules 2023/2024 + Auctions 02/2022, 01/2023, 02/2023 e 01/2024 baseline June/23 | ² Weighted by RAP, excluding RBSE | ³Assets in operation and under construction March/2024

OPTIONALITY TO PRIORITIZE

PROFITABLE GROWTH INITIATIVES

Retrofitting & Improvements

  • Organic capex in the Original Concession
  • Pre-defined regulatory return
  • No competition
  • RAP/CAPEX of 12-17%

Greenfield (auctions)

  • Public auctions with cyclical return and competition levels
  • ISA CTEEP advantages: engineering solutions, capex procurement, synergies, operational holding
  • Double-digit equity IRR + inflation

Brownfield

  • Several actionable opportunities
  • Selective approach focused on synergic targets

Higher Profitability

Greater Longevity

Less Risk

Investments Evolution(3)

R$ million

Retrofitting & Improvements: R$ 5 bn

Retrofitting & Improvements

Greenfield: R$ 10 bn

Greenfield (auctions)

CAGR(1): +39.9%

Brownfield(2)

3,297

1,901

1,929

2,067

1,306

1,104

847

386

771

1,029

1,074

24

219

638

368

825

1,220

133

232

142

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

2028

(1) CAGR: Compound Annual Growth Rate | (2) Considers Enterprise Value amounts | (3) Cost of construction, IFRS accounting

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PROJECTS CONCLUDED WITH EXCELLENCE

2019

Itapura Bauru

Avg. Construction

RAP(2): R$ 13.5 million

advance vs. ANEEL

7 monts

2020

Itaquerê

Tibagi

Avg. Efficiency vs.

RAP(2): R$ 62.9 million

RAP(2):R$ 21.5 million

ANEEL Capex

35%

2021

Aguapeí

Itapura Lorena

RAP(2): R$ 74.2 million

RAP(2):R$ 14.3 million

Total investment(1)

R$ 3.9 bn

Três Lagoas

Biguaçu

RAP(2): R$ 5.8 million

RAP(2): R$ 49.5 million

Ivaí (50%)

Energized Projects

2022

2019 - 2023

Aimorés (50%)

Paraguaçu (50%)

RAP(2):

R$ 181.3 million

12

RAP(2): R$ 47.9 million

RAP(2): R$ 66.8 million

Itaúnas

Triângulo Mineiro

Contracted Revenue(2)

2023

R$ 644.8 mm

RAP(2): R$ 65.0 million

RAP(2): R$ 42.1 million

(1) Nominal (IFRS) Cost of Construction, proportional through ISA CTEEP's participation | (2) RAP Cycle 2023/2024 , proportional through ISA CTEEP's participation (3) In relation to ANEEL's term | (4) Actual investment, baseline June/23, compared to ANEEL Capex.

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Disclaimer

CTEEP - Companhia de Transmissão de Energia Elétrica Paulista published this content on 15 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 May 2024 16:49:06 UTC.