esultado So

Earnings
Release
1Q24
Brasília, May 15th, 2024 – Equatorial Energia S.A., a multi-utilities holding company, operating in the Distribution, Transmission, Generation, Commercial-
ization, Services, Sanitation and Telecom segments (B3: EQTL3; USOTC: EQUEY), announces its results for the first quarter of 2024 (1Q24).

Adjusted Consolidated EBITDA grows 11% and reaches R$2.5 billion in the period (vs. 1Q23)
Operational improvement and distribution market growth are the highlights of the period

• Operating Performance – Reduction in DEC, in a 12-month accumulated view, reductions of 10.5 and 6.6 hours in
Amapá and Maranhão concessions in comparison with 1Q23, respectively.
• Total energy losses classified at the regulatory level for the second consecutive quarter, with emphasis on Goiás
classification within the regulatory limit.
• Total volume of energy distributed with consolidated growth of 11.2% compared to 1Q23, highlighted by Amapá
(+28.1%), Goiás (+14.9%), Piauí (+14.7%), Pará (+12.5%), Maranhão (12.4%) and Alagoas (+10.8%), which
achieved double-digit percentage growth.
• Consolidated investments totaled around R$ 1.7 billion in 1Q24, a reduction of R$ 0.8 billion when compared with
1Q23, reflecting the completion of the tariff review cycle in the distribution segment.
• Consolidated Net Debt/EBITDA ratio in the covenant view, ended 1Q24 at 3.3x, maintaining the level showed in
4Q23.
• Issuance of debentures by Equatorial Goiás and Barreiras I, worth R$ 2,005 million and R$ 950 million, respec-
tively.
• Consolidated cash for the period reached R$ 9.6 billion, with a Cash/Short-term Debt ration of 1,7x.
• Equatorial Alagoas Tariff Review concluded in May, approving a net asset base of R$2,568 million.
• Energization of Ribeiro Gonçalves UFV in april, with expected date to enter comercial operation in May.

MAIN MACROINDICATORS1

F inancial Hig hlig hts 1Q 23 1Q 24 ∆% ∆

R $ m illion
Net O perating R evenues (NO R ) 10,177 9,898 -2.7% (278)
A djusted E B IT DA (Q uarter) 2,267 2,523 11.3% 256
E B IT DA M arg in (% NO R ) 22.3% 25.5% 3.2 p.p.
A djusted E B IT DA (L ast 12 m onts) 8,287 10,395 25.4% 2,108
A djusted Net Incom e 273 384 40.9% 112
Net Income M arg in (% NO R ) 2.7% 3.9% 1.2 p.p.
Inv estm ents 2,543 1,725 -32.1% (817)
Net Debt 33,061 36,603 10.7% 3,542
Net Debt / Adj E B IT DA (Last 12 months) 3.9 3.3 -0,5x
Cash / S hort T erm Debt 2.2 1.7 -0,5x

1 Adjusted EBITDA net of non recurring effects and non-cash effect of VNR, IFRS and MrM.

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Summary
Summary ................................................................................................................................................................ 3
CONSOLIDATED FINANCIAL PERFORMANCE ........................................................................................................... 5
ADJUSTED GROSS MARGIN ..................................................................................................................................... 5
COSTS AND EXPENSES ........................................................................................................................................... 7
EBITDA ................................................................................................................................................................... 8
FINANCIAL RESULTS ............................................................................................................................................... 9
NET PROFITS ......................................................................................................................................................... 10
DEBT .................................................................................................................................................................... 11
INVESTMENTS ...................................................................................................................................................... 12
ESG (Environmental, Social and Governance) ....................................................................................................... 13
DISTRIBUTION ...................................................................................................................................................... 14
COMERCIAL PERFORMANCE ................................................................................................................................. 14
OPERATIONAL PERFORMANCE ............................................................................................................................. 16
FINANCIAL PERFORMANCE................................................................................................................................... 17
GROSS MARGIN .................................................................................................................................................... 17
OPERATIONAL EXPENSES AND OPEX/CONSUMER ................................................................................................ 18
EBITDA ................................................................................................................................................................. 20
NON-RECURRING EFFECTS ................................................................................................................................... 22
FINANCIAL RESULTS ............................................................................................................................................. 23
NET PROFIT ........................................................................................................................................................... 23
INVESTMENTS ...................................................................................................................................................... 23
TRANSMISSION .................................................................................................................................................... 24
FINANCIAL PERFORMANCE................................................................................................................................... 24
RENEWABLES ....................................................................................................................................................... 27
OPERATIONAL PERFORMANCE ............................................................................................................................. 27
PIPELINE RENOVÁVEL ........................................................................................................................................... 29
FINANCIAL PERFORMANCE................................................................................................................................... 31
SANITATION.......................................................................................................................................................... 34
OPERATIONAL AND COMERCIAL PERFORMANCE .................................................................................................. 34
FINANCIAL PERFORMANCE................................................................................................................................... 34
EQUATORIAL SERVIÇOS ........................................................................................................................................ 36
FINANCIAL PERFORMANCE................................................................................................................................... 36
SERVICES PROVIDED BY THE INDEPENDENT AUDITOR .......................................................................................... 37

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NOTICE
Forward-looking statements are subject to risks and uncertainties. Such statements are based on the beliefs and as-
sumptions of our Management and information to which the Company currently has access. Forward-looking statements
include information about our current intentions, beliefs or expectations, as well as those of the Company's Board of
Directors and Officers. Disclaimers with respect to forward-looking statements and information also include information
about possible or assumed operating results, as well as statements that precede, follow or include the words “believes”,
“may”, “will”, “continues”, “expects”, “anticipates”, “intends”, “estimates” or similar expressions.

Forward-looking statements and information are not guarantees of performance. They involve risks, uncertainties and
assumptions because they refer to future events, therefore depending on circumstances that may or may not occur.
Future results and the creation of shareholder value may differ materially from those expressed or suggested by forward-
looking statements. Many of the factors that will determine these results and values are beyond the Company's ability to
control or predict.

Accounting criteria adopted:

The information is presented on a consolidated basis and in accordance with Brazilian corporate law criteria, based on
revised financial information. The consolidated financial information presented in this report represents 100% of the
results of its direct and indirect subsidiaries and considers the result of the assets from their acquisition, unless other-
wise indicated for comparability purposes.

The consolidated operating information represents 100% of the results of direct and indirect subsidiaries.

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CONSOLIDATED FINANCIAL PERFORMANCE

Incom e S tate m e nt 1Q 23 1Q 24 ∆% ∆
R $ m illion
G ross O perating R evenues (G O R ) 13,238 13,837 4.5% 599
Net O perating R evenues (NO R ) 10,177 9,898 -2.7% (278)
E nerg y P urchase Cost (6,369) (5,704) -10.4% 665
G ross M arg in 3,808 4,194 10.1% 386
O perating E xpenses (1,343) (1,484) 10.5% (141)
O ther O perational R evenues/E xpenses (0) (66) N/A (66)
E B IT DA 2,465 2,644 7.3% 179
A dj. E B IT DA 2,267 2,523 11.3% 256
Depreciation (441) (513) 16.3% (72)
G oodwill Amortization (150) (144) -4.1% 6
S ervice Income (E B IT ) 1,874 1,987 6.1% 114
F inancial R e sults (1,500) (1,276) -15.0% 225
A djuste d F inancial R e sults, ne t (1,241) (1,338) 7.9% (97)
O perating R esults 373 711 90.6% 338
Income T ax (85) (132) 54.5% (47)
M inorities (124) (300) 141.5% (176)
Ne t Incom e 164 279 70.7% 116
Ne t A djuste d Incom e 273 384 40.9% 112
Investments 2,543 1,725 -32.1% (817)

The information contained in this section includes the results of the companies starting from their respective acquisi-
tions. It is worth noting that the adjusted numbers started to consider non-cash and IFRS effects from 2Q23, and that
this change affects the 1Q23 numbers, which were adjusted in the same way.

ADJUSTED GROSS MARGIN

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On a consolidated basis, in 1Q24, Equatorial group's adjusted Gross Margin showed a growth of 11.9% compared to
1Q23, totaling R$4.0 billion, already excluding the effects of construction revenue and IFRS (VNR, IFRS 9 and MtM).

The result is mainly explained by the increase in the Gross Margin of distribution segment, where it stands out the growth
of Equatorial Goiás (R$ 218.6 million), Equatorial Piauí (R$ 65.6 million) and Equatorial Alagoas (R$ 46.4 million).

This quarter, market growth variations positively impacted the result by R$ 259 million, while the tariff increase totaled
R$172 million and the improvement in losses resulted in a positive result of R$ 51 million.

The table below presents the non-recurring effects of the Gross Margin opened by segment:

Non Recurring Distribution Transmission Renewables Sanitation Others Total 1Q24

Operating Revenue 12 - - - - 12
Tariff discounts and losses flexibilization 12 - - - - 12
Deductions from Operating Revenue - - - - - -
Net Operating Revenue 12 - - - - 12
Parcel A without corresponding CVA 34 - - - - 34
Cost of Electricity Service 34 - - - - 34
Gross Margin 46 - - - - 46

Below is a breakdown of the effects, which were concentrated in the Distribution segment:

Operating Income:

(i) (i) Tariff Discounts and Loss Flexibilization (CEA): Effect referring to the adjustment of non-receipt of loss flexibility and
amounts that must be returned to Aneel for non-application of the effect of the Tariff Revision.

Costs and electric energy service:

(ii) Parcel A. without corresponding CVA (Goiás): Value corresponds to the provision for expenses with parcel A that did
not have a CVA included, which are corrected in the subsequent month and have no impact on the accumulated result.

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COSTS AND EXPENSES

Adjusted OPEX grew 2.6% in the comparison between quarters, from R$1,149 million to R$1,179 million. The adjusted
variation below the calculated inflation reflects the company's cost discipline in the period. As the main effects of the
quarter, we highlight:

(i) Increase of R$29 million in the Distribution segment, mainly due to the strengthening of field teams at Equato-
rial Maranhão;
(ii) Reduction of R$10 million in the Renewables segment, mainly due to an advance to suppliers in 1Q23; and
(iii) Increase of R$ 12 million in Others, mainly explained in the Personnel line of Holding and Equatorial Serviços,
reflecting the increase in corporate headcount and call center operations at Equatorial Goiás.

Below we present the non-recurring effects of costs and expenses, categorized by segment:

Non Recurring Distribution Transmission Renewables Sanitation Others Total 1Q24

Operational Costs and Expenses 25 - - - - 25
Services 18 - - - - 18
Others 6 - - - - 6
Provisions - - - - - -
Costs and Expenses 25 - - - - 25

Below is the detailing of the effects, which were concentrated in the Distribution segment:

Operating Costs and Expenses:

Third-Party Services

(i) Extraordinary payments to third parties, Consultancies and Reclassifications (Maranhão, Piauí and CEEE-D): Adjust-
ments relating to consultancy and accounting reclassifications in Maranhão, bonus and retroactive payments for field
teams in Piauí and teams mobilized for emergency assistance in CEEE -D.

Others

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 (i) Other effects (Goiás): Adjustment relating to the write-off of amounts paid to a supplier that filed for chapter 11.

Individual effects can be viewed in the non-recurring table in the Distribution section.

EBITDA

EBITDA (in R$ million)

Equatorial's reported EBITDA reached R$2,644 million in 1Q24, 7.3% higher than 1Q23.

While the EBITDA adjusted for non-recurring and non-cash effects reached R$ 2,523 million, 11.3% higher than the same
period of the previous year, or R$256 million higher. This increase is mainly explained by the market and tariff growth in
the distribution segment, which contributed with a positive variation of R$ 273 million in the quarter.

It is important to mention that the adjusted EBITDA already includes non-cash and IFRS adjustments (VNR, IFRS 9 and
MtM).

Below we present the reconciliation of Reported EBITDA, in accordance with CVM Instruction 527/12

EBITDA 1Q23 1Q24 ∆% ∆

R$ million

EBITDA Equatorial IFRS 2,465 2,644 7% 179

EBITDA Adjustments (198) (121) -39% 76
Non Recurring Adjustments (59) 117 -300% 176
(-) IFRS 9 (Transmissão) (30) (33) 8% (3)
(-) VNR (33) (201) 516% (168)
(-) MtM (76) (5) -93% 71
EBITDA Equatorial (ex new assets) 2,267 2,523 11.3% 256

The non-recurring effects that impacted EBITDA are listed below.

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Non Recurring Distribution Transmission Renewables Sanitation Others Total 1Q24
Gross Margin 46 - - - - 46
Costs and Expenses 25 - - - - 25
Other Operational IncomesExpenses 68 - - - - 68
IFRS (VNR/IFRS 9/ MtM) Adj. (201) (33) - - (5) (238)
PPAs - - - - (22) (22)
Ebitda Adjustments (62) (33) - - (27) (121)

The EBITDA adjustments in this quarter were concentrated in the group's DisCos, and are represented in the previous
sections “Gross Margin” and “Costs and Expenses”. For more details, see the “Distribution” section.

FINANCIAL RESULTS

On a consolidated basis, the Company's reported financial result of R$ 1,276 negative million compared with R$1,500
negative million in 1Q23.

Next, we present the non-recurring effects of the period:

Non Recurring Distribution Transmission Renewables Sanitation Others Total 1Q24

Financial Revenues (72) - - - - (72)
Extemporaneous revenues (28) - - - - (28)
Discounts received in renegotiations (44) - - - - (44)
Financial Expenses 9 - - - - 9
Discounts received in renegotiations 9 - - - - 9
Financial Result (62) - - - - (62)

Below are explanations of non-recurring effects:

Financial Revenues

(i) Extemporaneous Revenues (Goiás): Financial revenues from CVA Charges referring to the previous period and rec-
orded in 1Q24.
(ii) Discounts received in renegotiations (CEEE-D): Discounts received in PIS and COFINS renegotiations.

Financial Expenses

(i) Discounts granted in renegotiations (Goiás): Discounts granted on customer invoices in renegotiations.

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The adjusted financial result in 1Q24 was negative R$1,338 million, a variation of 7.9% compared to 1Q23. The worsening
of the financial result is the result of the updating of Equatorial Distribuição's preferred share purchase options, which
affected the result by a negative R$106.7 million. Not considering the effect of updating options, the financial result
would have improved by 0.7%, in line with 1Q23.

NET INCOME

On a consolidated basis, Equatorial achieved a profit of R$579 million in 1Q24, while adjusted net profit for the period
was R$384 million, R$112 million higher than the same period of the previous year.

Below we present the non-recurring effects that impacted the company's profit:

The tax line adjusts the value of the quarter for the incidence of taxes on the recurring result, and the IFRS Adjustments line brings the
non-cash effects already net of taxes.

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DEBT

In the quarter, the consolidated gross debt, considering loans and financing, financial creditors from judicial recovery
(net of adjustment to present value) and debentures, reached R$44.5 billion. For a more detailed breakdown of the debt,
visit the IR website, in the section: Financial Information – Operational and Financial Data.

The net debt calculated for covenant purposes reached R$36.6 billion, implying a net debt/EBITDA ratio for covenant
purposes of 3.3x, maintaining the level recorded in 4Q23. It is important to mention that the reduction in gross debt is
due to the prepayment of approximately R$2 billion in Holding debt.

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Cash coverage in relation to the Company's short-term obligations closed 1Q24 at 1.7x.

INVESTMENTS

The information regarding In-

Inv estm ents 1Q 23 1Q 24 ∆% ∆
vestments made. considers
R $ m illion
100% of Maranhão, Pará, Piauí,
Alagoas, CEEE-D, CEA, Goiás, Distribution 2,328 1,510 -35% -818
E lectrical Assets 2,053 1,245 -39% -808
Intesa, Equatorial Transmissão,
S pecial O bligations 142 192 35% 50
Echoenergia, CSA and Equato- Non-E lectrical Assets 133 73 -45% -60
rial Serviços in the reported pe- T ransm ission 6 8 37% 2
riods. New assets are con- E QT T 5 8 57% 3
sidered based on their respec- Intesa 1 0 100% -1
tive consolidations. R enew ables 182 183 1% 1
O perational Assets 8 14 64% 5
In 1Q24, the total consolidated P rojects under development 173 169 - -4
investment was R$1.7 billion, a S anitation 15 20 33% 5
volume 32% lower than that rec- O thers 12 4 -65% -8
orded in 1Q23. T otal E quatorial 2,543 1,725 -32% -817

The variation is mainly due to the 35% reduction in investments in the Distribution segment, where the electrical asset
line showed a reduction of 39%, reflecting the end of the evaluation period of the distributors' asset base for the 2023
and 2024 tariff reviews, which occurred in 5 of the group’s 7 DisCos.

It is worth noting that due to the increase in the volume of works related to PLPT and MLA connections, there was an
increase in the special obligations line.

In the transmission segment, the increase refers to the reinforcement of SPE 8, given the replacement of a transformer
at the Xingu substation, which will bring an additional RAP of R$5.7 million.

Investments in the sanitation segment reflect the initial stage of CSA's operation, as demonstrated in the Sanitation sec-
tion.

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ESG (Environmental, Social and Governance)

The Equatorial Group recorded important advances in 1Q24, results achieved based on the strategy outlined in recent
years for the ESG agenda. As part of its climate initiatives, the Company continued to work on reducing the intensity of
SF6 gas emissions, a project started in 2023 and which works to maintain leaking equipment in high voltage parks. It is
worth mentioning that SF6, due to its high greenhouse potential, is one of the most impactful gases for global warming,
being around 23,500 times more powerful than carbon dioxide in terms of heat retention capacity in the atmosphere.

In line with the previous project, Equatorial began changing the fuel of its administrative fleet in the quarter, so that eth-
anol is the standard fuel in supplies and is used instead of gasoline and/or diesel. The initiative gave the Company an
increase of more than 600% in ethanol consumption compared to the first quarter of last year, a project that aims, by the
end of 2024, to reduce emissions in the mobile combustion category by up to 7%.

The Group also increased by 14% the power connections made via SIGFI (Individual Electricity Generation System with
Intermittent Source) in isolated communities without access to electricity, located mainly in the interior of the state of
Pará. The system, made up of inverters solar panels and batteries, it works like a mini power plant and can only serve one
consumer unit, with the energy generated and consumed in the localities themselves. The Company has also intensified
its actions to contract local suppliers, in order to encourage the economy of the regions where it operates and reduce
the impacts caused by long-distance transport of goods.

Find out more about our indicators, available each quarter, in the table below:

E S G Indicators M esure 1Q 23 1Q 24 ∆%

E nv ironmental
Installed R enewable E nergy Capacity L 6,627 47,185 612.0%
W aste G enerated # 3,038 3,462 14.0%
E nvironmental S anctions R $ thousand 1,225 1,506 22.9%
S ocial
Number of E mployees % 34.9% 36.2% 3.8%
Number of T hird P arty E mployees % 22.7% 21.4% -5.5%
T urnover R ate % 6.5% 7.2% 10.9%
% of W omen in the E quatorial E nergia G roup % 38.0% 45.9% 20.7%
% of W omen in Leadership P ositions x T otal Leaders R $ thousand 6,491 9,833 51.5%
S ocial Investments # 24 5 -79.2%
T F O wn # 1,510 799 -47.1%
T F T hird P arty E mployees # 5 1 -80.0%
T G O wn # 3 10 233.3%
T G T hird P arty E mployees R $ thousand 4,070 4,233 4.0%
G ov ernance
% of Independent Directors¹ % 87.5% 100.0% 14.3%
% of W omen on the Board % 25.0% 14.0% -44.0%
% of W omen on the Board % 38.4% 55.8% 45.3%
Cases R egistered in the E thics Channel # 149 166 11.4%

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DISTRIBUTION

COMERCIAL PERFORMANCE

LOSSES (12 months)

R e g ulatory R e g ulatory 1Q 24
DisCos 1Q 23 4Q 23 1Q 24 ∆ 1Q 23 ∆ 4Q 23 ∆ R e g ulatory
1Q 24 L T M Hom olog ate d

Consolidated 19.0% 18.4% 18.2% 18.2% -0.8% -0.2% 0.0% 18.4%

E quatorial M aranhão 17.5% 17.9% 18.2% 17.1% 0.7% 0.3% 1.0% 17.3%
E quatorial P ará 27.3% 27.2% 27.2% 27.8% -0.1% 0.0% -0.6% 28.2%
E quatorial P iauí 18.2% 18.2% 18.1% 20.1% -0.1% -0.1% -2.0% 19.6%
E quatorial Alag oas 19.2% 18.5% 18.6% 21.3% -0.6% 0.2% -2.6% 21.3%
CE E E -D 15.7% 12.8% 12.4% 11.1% -3.2% -0.4% 1.3% 11.3%
CE A 44.5% 41.4% 39.2% 33.5% -5.3% -2.2% 5.8% 33.6%
E quatorial G oiás 12.2% 12.4% 11.7% 12.0% -0.5% -0.7% -0.3% 12.3%

The operational information was disclosed in the company's operational release. To access the document, click here.

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Contraction (12 months)

Below, we present the expectation of the hiring level of distributors in 2024 in a view with and without adjustments re-
sulting from involuntary overcontracting. It is worth mentioning that Amapá's overcontracting is due to contracts made
before Equatorial management. The company has interacted with Aneel to balance the concession's energy contracting.

PDA and Collection (12 months)

On a consolidated basis, the group's PDA reached 1.7% of ROB. The increase in PDA/ROB is due to the reversals that
occurred in 1Q23 in Goiás and Amapá and the increase in accounts receivable, a result of the collection impacts in the
quarter.

The companies' revenue ended the quarter at a consolidated level of 96.6%, 1.4 p.p. below the same period of the previ-
ous year. The first quarter tends to have lower collection levels compared to the rest of the year, and the worsening com-
pared to 1Q23 is due to strong market growth, which increases accounts receivable from distributors and generates a
mismatch between the volume of invoices issued and the volume collected, deteriotation of collections in the Public
Power and high tension, which has already been reversed in April, in addition to the reduction in collection actions due
to teams that were temporarily displaced for emergency assistance.

Throughout the month of April, it was possible to see the impact of the slippage in the payment of invoices for the period,
which already had a positive impact on 2Q24. In relation to the smaller number of actions aimed at collection, the group's
commercial department has already mapped out actions to increase the effectiveness of the teams and improve collec-
tion.

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OPERATIONAL PERFORMANCE

DEC and FEC (12 months)

The quality level of the distribution system is measured by the DEC and FEC indices, both over a 12-month period.

The highlights of the quarter are the reductions of 10.5h and 6.6h at CEA and Equatorial Maranhão when compared to
the same period of the previous year. In the comparison between years, we presented reductions in DEC in 4 of the 7
distributors, reinforcing the commitment to operational quality in the group’s concessions. Both Piauí and Goiás pre-
sented results with a slight increase of 0.1h between periods.

In comparison with 4Q23, there was an improvement in DEC in GO, CEA, PI and MA and worsening in Pará (+0.2h), Ala-
goas (+1.0h) and CEEE-D (+1.2h). In both Pará and Alagoas, the increases reflect the increase in rainfall in the states. In
Pará, the slight increase of 0.2h compared to 4Q23 came from occurrences in high voltage points that were affected by
greater rainfall, while Alagoas had heavy rains, winds and lightning, mainly in the month of February, which contributed
to the increase in indicator.

In CEEE-D, the increase in DEC is due to the repeated extreme weather events that have affected the state of Rio Grande
do Sul and make network maintenance difficult due to the large mobilization of teams focused on emergency assistance.
Despite the indicator's purge mechanics, part of the impact caused on the network cannot be purged, increasing the
indicator.

Currently, three of Equatorial's seven concessions are within the regulatory limit.

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 FINANCIAL PERFORMANCE

GROSS MARGIN
O perating R ev enues 1Q 23 1Q 24 ∆%
R $ million MA PA PI AL RS AP GO T otal MA PA PI AL RS AP GO T otal T otal
G ross S upply R ev enues 1,080 1,772 673 715 1,511 210 2,219 8,181 1,376 2,208 847 872 1,477 248 2,401 9,428 15%
U nbilled Income 6 (6) 2 7 51 2 53 116 8 (6) (6) 19 55 1 25 95 -18%
surplus reactiv e (3) (8) (4) (3) (7) (1) (9) (35) (4) (12) (4) (5) (9) (1) (15) (49) 42%
O ther R ev enues (R $ MM) 203 364 109 123 241 41 398 1,479 285 568 146 186 282 27 470 1,962 33%
Low Income S ubsidy 77 102 45 39 14 6 29 314 92 120 56 50 16 10 44 388 24%
CDE S ubvention 26 114 14 21 39 26 67 307 31 140 17 38 46 3 89 364 19%
G rid U sage 40 121 29 42 127 3 224 586 53 135 35 67 152 9 236 687 17%
F inancial A sset U pdate 25 (29) 2 2 15 1 17 33 61 101 3 4 10 0 22 201 516%
F inancial A sset W rite-off 5 7 3 3 5 0 - 23 6 7 3 3 6 1 - 26 14%
F ine for late payment 12 19 7 6 8 2 17 71 16 24 9 8 8 (0) 23 88 24%
O ther O perating R ev enues 18 29 9 11 32 3 45 147 27 41 23 17 44 3 55 209 42%
M utual U se 9 17 6 5 - 2 26 65 14 21 7 6 26 2 27 103 58%
S upply (R $ MM) 5 13 11 4 20 8 36 97 0 1 5 2 10 6 39 63 -35%
P arcel A R ev enues (R $ MM) 156 215 70 5 (162) 23 55 362 0 (76) 13 (87) (11) 53 201 93 -74%
(+) Construction R ev enues 198 614 180 120 208 107 902 2,329 220 521 132 99 127 88 352 1,539 -34%
G ross O perating R ev enues 1,638 2,970 1,038 965 1,811 389 3,601 12,413 1,877 3,209 1,138 1,068 1,876 420 3,447 13,036 5%
Deductions from O perating R ev enues (396) (636) (259) (262) (516) (71) (854) (2,995) (527) (815) (340) (347) (596) (112) (1,128) (3,863) 29%
P IS and CO F INS (297) (484) (198) (190) (332) (52) (507) (2,059) (408) (633) (257) (232) (361) (68) (653) (2,612) 27%
Q uality Indicator Compensations (10) (8) (6) (3) (7) 1 (26) (59) (7) (10) (7) (5) (24) (2) (88) (143) 140%
Consumer Charges (89) (144) (55) (70) (177) (20) (321) (876) (112) (172) (76) (109) (211) (42) (386) (1,109) 27%
Net O perating R ev enues 1,243 2,334 779 703 1,295 318 2,747 9,418 1,351 2,394 798 721 1,280 309 2,320 9,173 -3%
(-) Construction R ev enues (198) (614) (180) (120) (208) (107) (902) (2,329) (220) (521) (132) (99) (127) (88) (352) (1,539) -34%
Net O perating R ev enues w /o Construction R ev 1,045 1,720 599 583 1,087 211 1,845 7,089 1,131 1,873 666 622 1,153 221 1,968 7,634 8%
E nergy P urchase and T ransmission (552) (853) (333) (335) (658) (124) (1,106) (3,960) (573) (867) (334) (327) (733) (120) (1,102) (4,055) 2%
(=) G ross Marg in 493 867 267 248 429 87 738 3,129 558 1,007 333 296 420 101 866 3,580 14%
(-) Non R ecurring A djustments - - - - (21) (10) (62) (93) - - - - - 12 34 46 -150%
(-) V NR (25) 29 (2) (2) (15) (1) (17) (33) (61) (101) (3) (4) (10) (0) (22) (201) 516%
(=) A djusted G ross Marg in (ex-V NR ) 469 895 264 246 393 76 660 3,003 497 906 330 292 409 112 878 3,425 14%
6.0% 1.2% 24.8% 18.9% 4.1% 47.3% 33.1% 14.0%

In 1Q24, the adjusted Gross Margin of ex-VNR distributors reached R$3.4 billion, 14% higher than the same period of the
previous year, mainly influenced by increased consumption and increased tariffs. The distributors that contributed most
to the positive variation in the quarter were Equatorial Goiás, Equatorial Piauí and Equatorial Alagoas, which together
contributed R$330.6 million to the result.

17
OPERATING EXPENSES AND OPEX/CONSUMER

MARANHÃO
In the comparison between quarters, the Adjusted OPEX/Consumer, in a 12-month view, grew 13.9%, totaling R$240,
but maintained the level presented in 4Q23. The adjusted OPEX for the period totaled R$175 million, with an increase of
15.4% between quarters, or R$ 23 million.

The increase in OPEX on an adjusted basis is mainly the result of the Third Party Services line, which showed an increase
of R$ 27.2 million, resulting from the greater mobilization of teams and shifts focused on improving quality indicators. It
is important to highlight that Equatorial Maranhão's third-party services structure became more robust throughout 2023,
and the comparative effect of the new structure of outsourced teams will normalize from the second half of the year.

In 1Q24, Provision for Doubtful Allowances (PDA) reached R$34 million, reflecting the greater default of residential cus-
tomers, as a result of the reduction in collection actions in the quarter, an effect that was enhanced by the new loss
matrix (which has higher percentages of provisioning) and due to the slipping of invoice payments to the month of April,
falling outside the scope of the quarter. The PDA for the quarter represents 2.02% of GOR.

PARÁ
In 1Q24, the Adjusted OPEX/Consumer (12 months) registered R$236, a reduction of 5.1% compared to 1Q23, while the
adjusted OPEX reached R$ 171 million, around 2.8% below 1Q23.

In 1Q24, PDA reached R$67 million, 2.49% of GOR. The increase between quarters is due to: (i) the increase in the com-
pany's accounts receivable, which was aggravated by the update of the matrix that has a higher percentage of provisions
for debts not paid in installments; (ii) increased defaults among incoming residential customers and increased defaults
in the public sector, as a result of a renegotiation carried out in 1Q23; and (iii) the reduction in collection actions and
rainfall in the region.

PIAUÍ
The Adjusted OPEX/Consumer (12 months) registered R$ 241, an increase of 4.5% compared to 1Q23. The adjusted
OPEX for the quarter increased by 6.4%, or R$ 5 million when compared to the same period of the previous year.
The quarter's variation was concentrated in the Third Party Services line, which varied by R$ 9 million, impacted mainly
by electrical service shifts aimed at improving quality (street cleaning, pruning and maintenance) and actions aimed at
combating losses, which were more intense in the period due to strong market growth.

18
In 1Q24, PDA recorded a provision of R$22 million, 2.17% of GOR, in line with 1Q23

ALAGOAS
The Adjusted OPEX/Consumer (12 months) registered R$205, 0.6% higher than 1Q23, while the adjusted OPEX showed
an increase of 3.1%, or R$2 million.

PDA recorded a provision of R$13 million, representing 1.34% of ROB, 0.1 p.p. below 1Q23.

CEEE-D
Adjusted OPEX/Consumer (12 months) registered R$ 301, a reduction of 1.3% compared to 1Q23, while adjusted OPEX
totaled R$ 136 million, in line with the same period of the previous year.

Despite not showing growth in the consolidated OPEX, in the quarter, there was an increase of R$ 17.6 million in the Third
Party Services line, reflecting the greater number of teams mobilized for emergency assistance and the strengthening
of the team structure in the concession. The reduction in the Personnel line by R$ 21.4 million is mainly due to the trans-
fer of interest payments relating to the CEEE-D pension plan to the financial expenses line, in line with market practice,
and had an impact of R$24 million in the quarter. Not considering the movement in pension plan interest, the adjusted
OPEX would be R$160 million, and would have grown by 18.6%.

PDA recorded R$40 million, mainly impacted by the redirection of cutting and collection teams to emergency assistance,
which contributed to the increase in defaults in the period. With this result, PDA/GOR reached 2.28%. The Provisions for
contingencies line recorded R$21 million in the quarter, R$12 million higher than the same period of the previous year,
due to the increase in the formation of labor and civil lawsuits.

CEA
The Adjusted OPEX/Consumer (12 months) registered R$611, a value 7.5% lower than the same period of the previous
year. CEA's adjusted PMSO was R$36 million, in line with that recorded in 1Q23.

Finally, in 1Q24 PDA reached R$ 11 million, impacted by the update of the matrix that advanced over the last 5 years,
removing the year 2017 which was marked by many renegotiations and collections above 150% and replacing it with a
year of normal operation with collection of around 99.1%, in addition to the increase in accounts receivable and the
update of the matrix, which brings higher percentages of provisioning for invoices not in installments. With this result,
the PDA/GOR was 3.41%.

GOIÁS
The Adjusted OPEX/Consumer (12 months) was R$347 in 1Q24, a result 11.1% lower than 1Q23, the first quarter of
Equatorial's management of the concession, reflecting the group's commitment to cost discipline. The adjusted OPEX
was R$344 million, 1% higher than 1Q23.
It is important to highlight that due to the turnaround process, both this quarter and the next may present volatility in
operating expenses due to the process of standardizing the company's structures and processes to the group's manage-
ment model.

19
 The positive variations in the quarter are concentrated in the lines of Third Party Services and Personnel, which in-
creased by R$8 million and R$12 million, respectively, reflecting the strengthening and oxygenation of Equatorial Goiás'
field and corporate teams. The reduction in the line of Others by R$ 17 million is the result of the adjustment of expense
entries related to FUNAC, which in 1Q23 impacted the line.

PDA recorded R$11 million and represents 0.37% of GOR.

EBITDA
E B IT DA 1Q 23 1Q 24 ∆%
R $ million MA PA PI AL CE E E -D CE A GO T otal MA PA PI AL CE E E -D CE A GO T otal T otal
(+) Net Income 162 425 29 86 41 (6) (60) 676 155 430 65 106 33 (22) (59) 708 4.8%
(+) Income T ax / S ocial Contribution (10) 48 4 18 1 2 30 94 38 95 10 17 (49) (0) (19) 91 -2.5%
(+) Net F inancial R esult 45 103 94 45 182 46 277 793 62 97 90 49 172 67 379 916 15.4%
(+) Depreciation & A mortiz ation 61 115 22 10 40 6 119 372 70 115 38 32 35 10 154 454 21.8%
(=) E B IT DA IF R S (CV M)* 258 691 149 159 264 48 366 1,935 325 737 203 203 191 55 456 2,169 12%
(+) O ther O perating R evenues / E xpenses 52 (28) 16 9 (2) 2 (48) 0 17 14 14 6 19 (3) 1 68 60331.2%
(+) G ross M argin Impacts - - - - (21) (10) (62) (93) - - - - - 12 34 46 -149.6%
(+) P M S O A djustments - (16) (4) (3) (4) - 52 24 3 - 2 - 13 - 6 25 0.8%
(+) P rovisions A djustments - - - - - - - - - - - - - - - - N/A
(+) P rovisions A djustments (25) 29 (2) (2) (15) (1) (17) (33) (61) (101) (3) (4) (10) (0) (22) (201) 516.3%
A djusted IF R S E B IT DA 286 676 159 162 222 39 291 1,834 284 650 216 205 212 64 475 2,107 15%
-0.5% -3.9% 36.5% 26.5% -4.3% 63.1% 63.6% 14.9%

MARANHÃO
In 1Q24, EBITDA adjusted by VNR and non-recurring effects reached R$284 million, 0.5% lower than 1Q23, or R$1.6
million.

The adjusted gross margin for the quarter recorded growth of R$28 million, with the main positive effects being market
growth of R$48.2 million, but partially offset by the drop in the parcel b tariff, which had a negative impact of R$31.1
million.

The negative variation in EBITDA in the quarter is mainly due to variations in adjusted OPEX (R$ -23.4 million) and varia-
tion in provisions and contingencies for the period (R$ -6.3 million).

PARÁ
Adjusted EBITDA by VNR and non-recurring effects reached R$650 million, a reduction of 3.9%.

The Gross Margin for the quarter grew R$ 11 million, mainly impacted by the positive market effects (R$ 85.1 million) and
delta losses (R$ 0.8 million), the increase was partially offset by the effect negative result from the reduction in the parcel
b tariff (-R$ 84.6 million).

The adjusted OPEX for the period showed a reduction of R$ 5 million between quarters, however, the variation of R$ 34
million in PDA and the variation in the expenses of isolated systems by R$ -8 million impacted the EBITDA of the quarter.

PIAUÍ
In Piauí, EBITDA adjusted for non-recurring and non-cash effects reached R$216 million, 36.5% higher, or R$58 million,
when compared to the same period of the previous year.

The increase of R$66 million in Gross Margin is due to: (i) market growth (R$21.7 million) and, (ii) tariff effect (R$47.9
million), which were partially offset by Unbilled Income (-R$8.3 million) and delta losses (-R$2.9 million).

20
Margin growth was slightly reduced by the increase of R$5 million in PMSO, which is related to the strong increase in the
number of consumers (+63 thousand vs 1Q23), and the variation in PDA of R$2 million between quarters.

ALAGOAS
EBITDA Adjusted by VNR and non-recurring effects from Alagoas reached R$ 205 million, an increase of R$ 43 million or
26.5% higher than 1Q23.

Alagoas' gross margin grew by R$46 million, mainly due to: (i) market growth (+R$17.6 million), (ii) the fio b tariff (+R$7.3
million) and, (iii) Unbilled Income (+R$ 11.5 million).

The adjusted OPEX showed an increase of R$2 million, and the adjusted provisions for the period (PDA and contingen-
cies) harmed the result by R$1 million.

CEEE-D
EBITDA adjusted for non-recurring effects and VNR in Rio Grande do Sul reached R$212 million in the quarter, R$9 million
lower than 1Q23, or -4.3%.

CEEE-D's gross margin grew by R$ 16 million, due to the following effects: (i) fio b tariff, (+R$ 8.5 million) and, (ii) delta
losses (+R$ 8.3 million).

OPEX for the period increased by R$1 million, while PDA and contingencies increased by R$24 million between quarters.

CEA
CEA's Adjusted EBITDA registered R$64 million, an increase of R$25 million between quarters.

CEA's gross margin increased by R$36 million due to the increase in energy billed by 26% (R$16.4 million) and the im-
provement in delta losses (R$12.8 million).

The reduction in OPEX contributed R$ 1 million to the increase in EBITDA, together with the positive variation in expenses
for isolated systems that totaled R$ 2 million, while the increase in PDA and contingencies by R$ 15 million harmed the
result.

GOIÁS
EBITDA adjusted for non-recurring effects and VNR of Equatorial Goiás reached R$475 million.

The main impact on the increase in EBITDA is the growth in gross margin, which this quarter increased by R$ 218 million
due to market growth (+R$ 70.2 million), increase in the wire-B tariff (+R $222.4 million) given the tariff review process
and the improvement in delta losses (+R$40.2 million).

The OPEX for the period increased by R$3.3 million, while the PDA and provisions varied by R$30 million, damaging the
result.

It is important to highlight that, both this quarter and the next, there will be volatility in results due to the turnaround
process.

21
NON-RECURRING EFFECTS - EBITDA

22
 FINANCIAL RESULTS

The distribution segment ended 1Q24 with a net financial result of negative R$916 million.

The adjusted financial result reached a negative balance of R$979 million in the quarter, an increase of 11% compared
to 1Q23. This increase is mainly due to the reduction in financial revenues of distributors, resulting from the decrease in
the CDI.

NET PROFIT

INVESTMENTS

Inv estment on Distribution 1Q23 1Q24 ∆%

R $ million MA PA PI AL RS AP GO T otal MA PA PI AL RS AP GO T otal T otal
E lectrical A ssets 179 456 141 117 188 84 887 2,053 207 350 104 90 114 57 323 1,245 -39.4%
S pecial Obligations 9 130 31 0 0 19 - 47 142 6 160 23 1 3 28 - 29 192 35.4%
Non-E lectrical A ssets 10 28 8 3 19 4 62 133 8 10 5 8 10 3 29 73 -45.1%
T otal 198 613 180 120 208 107 902 2,328 220 521 132 99 127 88 323 1,510 -35%
11.2% -15.1% -26.5% -17.5% -38.9% -17.9% -64.2% -35.1%

In 1Q24, investments in distribution totaled R$1,510 million, a volume 35.1% below when compare to the same period
of 2023.

To return to the table of content, click here.

23
TRANSMISSION

FINANCIAL PERFORMANCE

CONSOLIDATED TRANSMISSION (INTESA + SPEs)

24
EQUATORIAL TRANSMISSION – SPEs 01 to 08
The 1Q24 regulatory result brought net revenue of R$302.6 million, an increase of 7.1% compared to 1Q23, because of
the RAP adjustment for the 23/24 cycle of 3.94% for SPEs 1 to 8, and the increase in the customer base with CDE subsi-
dies, which increases the transmission companies' revenue.

Operating costs and expenses totaled R$18.1 million, R$1.5 million lower than 1Q23. Regulatory EBITDA reached
R$284.6 million, with a margin of 94.0%.

In the table below, we present the income statement for the transmission segment, from corporate to regulatory, of the
SPEs consolidated by Equatorial Transmissão.

25
INTESA
Intesa's regulatory net revenue was R$26.1 million in 1Q24, 41.6% below that presented in 1Q23, resulting from the
readjustment of the RAP for the 23/24 cycle, where there was a reduction in INTESA's original RAP by 50%, which gener-
ated an average readjustment effect of -37.9%.

Operating costs and expenses reached R$3.9 million, 44% above that observed in 1Q23, due to the increase in mainte-
nance and lane cleaning services. EBITDA reached R$22.1 million in 1Q24, with an EBITDA margin of 84.8%.

It is important to highlight that, due to the sale of the asset, this is the last quarter where INTESA's results are consoli-
dated by the group and the balance sheet balances were consolidated until 3Q23.

To return to the table of content, click here.

26
RENEWABLES

OPERATING PERFORMANCE

WIND GENERATION
In 1Q24, net wind generation was 817.1 GWh, a drop of 24.3% when compared to the same period of the previous year
(1,079.9 GWh in 1Q23), still with the impact of the constrained-off in the quarter, even if on a smaller scale, when com-
pared to the previous two quarters. Disregarding the effects of constrained-off in the period (22.4 GWh), generation
would be 22.3% lower compared to 1Q23.

Below, we highlight the main variations between periods:

27
OPERATIONAL INDICATORS
AVERAGE WIND SPEED – PORTFOLIO (m/s) TOTAL GENERATION – PORTFOLIO (GWh)

1Q24 presented atypical weather conditions that impacted Echoenergia's wind generation. The intensification of East-
erly Waves, ITCZ (Intertropical Convergence Zone) and convective rains, driven by positive anomalies in the TSA (South
Atlantic Tropical Index), contrasted with negative anomalies in ocean tem-
perature in the Southeast region.

This scenario intensified the temperature gradient in the Atlantic, increas-

ing the frequency of transient systems such as cold fronts and cyclones,
weakening the ASAS (South Atlantic Subtropical High). This situation, re-
sulted in an increase in the volume of rain and a reduction in wind speed in
a large part of the Northeast, directly affecting Echoenergia's wind produc-
tion.

At the company's complexes, wind speeds fell by 12.1% between 1Q23 and
1Q24. The figure on the side illustrates the wind anomaly in 1Q24 compared to the long-term climatology2, showing
significant negative anomalies in all Echoenergia complexes, except for Tianguá.

The following graph presents Echoenergia's energy generation in the last 12 months and the vision for 1Q24, comparing
it with the annual P50 and P90 values revised by the company at the beginning of 2024. It is worth noting that these en-
ergy production estimates are considered robust, as the studies were prepared using methodologies consolidated in
the market and are based on operational data for all complexes.

2Data from the ERA5 model (European Center for Medium-Range Weather Forecasts Reanalysis v5), considering the period from
1980 to 2024 as climatology.

28
CONSTRAINED-OFF
After the occurrence on August 15, 2023 that resulted in the partial shutdown of the National Interconnected System
(SIN), the National System Operator (ONS) implemented changes in the system's operating mode that caused significant
generation restrictions (known as "constrained- off") for renewable energy generation agents in the Northeast. Among
the changes, the reduction of energy export limits from the Northeast to the Southeast/Central-West and the North
stands out.

Historically, until the date of the occurrence, Echoenergia had experienced limited and, therefore, negligible impacts
due to constrained-offs. However, after the date of the occurrence, the company was affected mainly in its Serra do Mel
and Tianguá projects. In 1Q24, energy losses totaled 22.4 GWh (2.7%), with greater relevance for Serra do Mel with 17.1
GWh.

It is important to highlight that the ONS has gradually reduced restrictions, with a smaller impact being observed in 1Q24
compared to 4Q23. Furthermore, Echoenergia has been actively working in collaboration with industry associations to
minimize the impact of constrained-offs on its portfolio.

RENEWABLE PIPELINE

CONSTRUCTION PROJECTS
Echoenergia, through its subholding Echo Crescimento, began developing the
project pipeline, with the construction of two solar complexes: Ribeiro Gon-
çalves, located in Piauí, with an installed capacity of 283.7 MWp, and energized
on 24 April 2024 and Barreiras I, located in Bahia, with an installed capacity of
449.2 MWp.

This stage is an important milestone in Echoenergia's value generation process,

in line with the Company's long-term strategic planning, allowing not only to di-
versify the portfolio of generation assets, now at the forefront of developing solar
projects, but also to advance in your marketing strategy.

More information about the projects under development is shown in the table
below.

29
TECHNICAL DATA

Projects Under Construction Ribeiro Gonçalves Barreiras I

General Data
Source Solar Solar
Location (State) PI BA
Installed Capacity (Mwac) 223.2 351.1
Installed Capacity (Mwp) 283.7 449.2
Assured Energy P50 (Aneel) 68.0 117.5
Capacity Factor P50 (%) 30.5% 33.4%
Authorization Deadline Aug/2055 Mai/2056
Technical Data

Number of Panels 468,376 725,760

Substation SE Ribeiro Gonçalves SE Barreiras II
Regulatory Data
Wire Discount Yes 50% Yes 50%
Signed CUST/CCT 14/04/2021 - 30/06/2022 26/11/2021 - 03/06/2022
Estimated Schedule
UFV Construction 1Q24 3Q24
SE Construction 1Q24 2Q24
LT Construction 1Q24 2Q24
COD¹ Date limit: Not Applicable Date limit: abr/25
Physical Progress 99.1% 91.8%
Financial Data
Hard Capex² (R$ million) 960.5 1,488.8
Capex (R$ million/MWp) 3.4 3.3
Total Invested (R$ million) 966.8 1,415.1
1 - Ribeiro Gonçalves had a grant issued before Law 14,120/21, therefore, it does not fall within the 48-month
period from its issuance to maintain the benefit of the TUSD/TUST discount.
2 - Hard CAPEX: modules, trackers, inverters and engineering; does not include contingencies, inflation and hedging.

LONG TERM FINANCING

Subcredit B of BNDES financing for Ribeiro Gonçalves was contracted only as insurance, but the company's intention is
to replace it with lower-cost long-term lines.

30
FINANCIAL PERFORMANCE

We present Echoenergia's economic-financial performance for 1Q24 and, for a better view of the generation and com-
mercialization business, we bring a pro forma view combining the results of Solenergias (Equatorial Renováveis S.A.),
the group's commercialization vehicle, which is currently consolidated, from a corporate perspective, under Equatorial
Serviços.

E cho Crescimento S ol E nerg ias

Income S tatement 1Q 23 1Q 24 ∆% ∆ 1Q 23 1Q 24 ∆% ∆
Net R ev enues - 4.4 N/A 4.4 61.2 68.9 12.6% 7.7
E nergy Costs - (4.3) N/A (4.3) (54.1) (61.8) 14.3% (7.7)
(+/-) M tM (G ains and Losses) - (0.1) N/A (0.1) 76.3 5.1 -93.3% (71.3)
Deductions from O perating R ev enues- (0.0) N/A (0.0) 83.5 12.3 -85.3% (71.2)
Costs - 0.7 N/A 0.7 (4.6) (5.3) 14.0% (0.6)
E xpenses - (0.0) N/A (0.0) (1.7) (0.3) -80.6% 1.4
E B IT DA - 0.7 N/A 0.7 (2.9) (5.0) 68.8% (2.0)
(-) Non R ecurring E ffects - 0.7 N/A 0.7 78.8 7.0 -91.2% (71.9)
(+/-) M tM (G ains and Losses) N/A 15.1% N/A N/A 128.8% 10.1% -118,7p.p. N/A
A djusted E B IT DA - - N/A - - - N/A -
D&A - 0.1 N/A 0.1 (76.3) (5.1) -93.3% 71.3
F inancial R esults - 0.7 N/A 0.7 2.5 1.9 -25.1% (0.6)
T axes N/A 16.9% N/A N/A 4.1% 2.7% -1,4p.p. N/A
Net R evenues - (0.0) N/A (0.0) (0.0) (0.0) 0.0% (0.0)
(+/-) F inancial R esult - 0.1 N/A 0.1 1.7 0.1 -91.9% (1.6)
(-) T axes - (0.2) N/A (0.2) (28.1) (2.6) -90.7% 25.5
Net R eported P rofit (P rejudice) - 0.6 N/A 0.6 52.5 4.5 -91.5% (48.0)
Net M argin N/A 14.3% N/A N/A 85.7% 6.5% -79,2p.p. N/A

E cho P articipações
Income S tatement 1Q 23 1Q 24 ∆% ∆
Net R ev enues 240.9 201.6 -16.3% (39.3)
E nergy Costs (12.4) (6.2) -49.6% 6.1
(+/-) M tM (G ains and Losses) (0.1) - -100.0% 0.1
Deductions from O perating R ev enues228.4 195.4 -14.5% (33.0)
Costs (90.4) (80.5) -11.0% 10.0
E xpenses (70.6) (72.4) 2.4% (1.7)
E B IT DA (19.8) (8.1) -59.0% 11.7
(-) Non R ecurring E ffects 138.0 114.9 -16.7% (23.1)
(+/-) M tM (G ains and Losses) 57.3% 57.0% -0,3p.p. N/A
A djusted E B IT DA 10.9 (0.3) -102.5% (11.1)
D&A 0.1 - -100.0% (0.1)
F inancial R esults 149.0 114.6 -23.0% (34.3)
T axes 61.8% 56.9% -5p.p. N/A
Net R evenues (76.1) (65.2) -14.3% 10.9
(+/-) F inancial R esult (90.6) (72.3) -20.2% 18.3
(-) T axes (13.0) (11.1) -15.0% 1.9
Net R eported P rofit (P rejudice) (41.7) (33.7) -19.3% 8.0
Net M argin -17.3% -16.7% 0,6p.p. N/A

GROSS ENERGY PROFIT - ECHOENERGIA

Net revenue totaled R$201.6 million in 1Q24, a reduction of 16.3% when compared to the same period last year, or
R$39.3 million. This variation is explained by the lower generation of wind assets and the impacts of the constrained off.

Since 3Q23, we have started to present the results of Echo Crescimento, a vehicle that consolidates the operations of
projects under construction and is consolidated by Equatorial Transmissão. Due to the fact that solar parks are not yet

31
operational, Echo Crescimento's Gross Energy Profit was zero in the period. It is important to highlight that in 4Q23 there
was an adjustment in the MtM measurement methodology, which now only impacts the supplier's trading contracts.

OPERATING COSTS AND EXPENSES - ECHOENERGIA

Operating costs and expenses (excluding depreciation and amortization and energy purchases) totaled R$80.5 million
in the period, a reduction of 11.0%, or R$10.0 million, compared to 1Q23. This effect is mainly explained by:

(i) The variation in operating and administrative expenses is due to the amount of R$10.9 million related to
the write-off of advances from suppliers recorded in 1Q23, a non-cash and extemporaneous effect;
(ii) (ii) O&M at R$0.8 million, mainly due to the receipt of a debit note for shared services with partners in Vila
Sergipe and lower permit costs for the period;
(iii) Others, whose variation was R$ 2.3 million, mainly due to: (i) reduction in premium on insurance renewal,
in the amount of R$ 0.6 million and the complement of compensation for loss of profits related to to the
loss in Echo 2, in the amount of R$0.8 million and, (ii) miscellaneous expenses, with emphasis on the re-
duction in condominium expenses due to office relocation, notary and permit expenses and fees.

These effects were partially offset by the increase in:

(i) Personnel, at R$1.6 million, due to the increase in headcount;

(ii) Transmission charges of R$1.4 million, reflecting the last adjustment.

EBITDA - ECHOENERGIA
Adjusted EBITDA in 1Q24 was R$114.6 million, a reduction of 16.7% when compared to 1Q23, reflecting the impacts
mentioned above. Adjusted EBITDA disregards the non-recurring effect of R$0.3 million related to the update of the book
value of the director's share granting plan, which was favorable to the result.

Analyzing the pro forma result, the net, non-cash effect of mark-to-market future contracts worth a negative R$5.1 mil-
lion was recognized at Solenergias (Equatorial Renováveis S.A.), as explained in the previous chapter.

32
FINANCIAL RESULT - ECHOENERGIA
The net financial result recorded in the period was negative R$72.3 million, a value R$18.3 million lower when compared
to the negative result of R$90.6 million in 1Q23. This effect is made up of a decrease in financial expenses and interest
affected by the drop in the IPCA and a drop in financial income due to lower cash availability in the period.

i. Decrease in financial revenues by R$7.7 million, mainly due to: (a) lower cash position and cash equivalents
and (b) the lower CDI in 1Q24 in relation to 1Q23, reaching 2.62% in the quarter against 3.24% in the same
period in the previous year;
ii. Reduction of R$26.0 million in financial expenses, largely affected by the drop of interest rates compared to
1Q23, from R$120.9 million in 1Q23 to R$95.1 million in 1Q24.

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SANITATION

OPERATING AND COMMERCIAL PERFORMANCE

The operational information was disclosed in the company's operational release. To access the document click here.

FINANCIAL PERFORMANCE

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NET OPERATING REVENUE
In 1Q24, CSA's net operating revenue reached R$40.8 million, an increase of 2% compared to 1Q23.

Although the total remains in line with 1Q23, we observed variations in the composition of net operating revenue, includ-
ing: (i) increase of R$5.0 million or 33% in construction revenue due to investments made in period, and (ii) a reduction
of R$5.2 million or 19% in revenue from water supply and sewage services, reflecting the sanitation of the customer base
and the advancement of services to cut off defaulting consumers.

OPERATING COSTS AND EXPENSES

Operating costs and expenses (excluding depreciation and amortization) totaled R$26.0 million, an increase of R$2.6
million or 11% when compared to 1Q23, considering the points below:

Personnel and Third-Party Services: increase related to the strengthening of the workforce and collection teams
with effects of R$0.6 million and R$1.8 million, respectively.

Material: 26% reduction in material costs (R$0.8 million) given and reduction in the purchase of chemical products
between quarters, because of the chlorine generator coming into operation in May 2023.

Others: Reduction of 11% (R$0.4 million) due to the accounting effect of IFRS 16 (Lease).

The increase in PDD/Provisions was R$1.8 million.

FINANCIAL RESULT

In 1Q24, the net financial result was R$ 44.3 million, R$2.2 million lower than 1Q23, reflecting the increase in debt be-
tween periods (+19.9%) and partially offset by the increase in financial income, which reflects the greater cash in the
quarter.

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EQUATORIAL SERVIÇOS

FINANCIAL PERFORMANCE

Reduction of R$25.8 million in Gross Operating Revenue between quarters. The change between periods is due to the
positive variation in the mark-to-market effect of R$71.2 million, mainly due to the new methodology for pricing the vol-
ume of contracts for future delivery negotiated by Solenergias in the period; partially offset by: (i) increased revenue from
Call Center services, which grew by R$20 million due to the new consent contract and the start of billing for digital ser-
vices in GO; and, (ii) increase in revenue from Equatorial Telecom and from insurance sales by R$5.8 and R$1.2 million,
respectively.

The company's EBITDA was R$30.0 million in the quarter, while Adjusted EBITDA reached R$24.9 million.

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SERVICES PROVIDED BY THE INDEPENDENT AUDITOR

The Company did not hire Ernst & Young Auditores Independentes S/S Ltda., its external auditor, for services other than
the independent audit and services required by ANEEL. The hiring policy adopted by the Company complies with the
principles that preserve the independence of the auditor, in accordance with current regulations, which mainly deter-
mine that the auditor must not audit his own work, nor exercise managerial functions in his client or promote his inter-
ests.

The following information was not reviewed by the independent auditors: i) operational data; ii) pro forma financial infor-
mation, as well as the comparison of this information with the corporate results for the period; and iii) management's
expectations regarding the future performance of the companies.

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