Companhia Paranaense de Energia Q4 FY2025 earnings call

• Daniel Slaviero stated that the company ended 2025 with consistent operating performance, having recurring EBITDA of nearly BRL 1.4 billion, up 16% year-on-year, and recurring net income close to BRL 700 million, up 30% year-on-year despite challenging conditions. - Regarding investments, the quarter ended with CapEx of BRL 768 million, totaling BRL 3.4 billion for the full year, directed to network modernization, etc. - Leverage was 2.7x, in line with the optimal capital structure. - Shareholder remuneration in 2025 reached a record BRL 3.8 billion. - The company presented its strategic plan Vision 2035 and a multiyear investment plan of BRL 18 billion over 5 years, and migrated to Novo Mercado. - DISCO Tariff Review is scheduled for June 2026, with expectation to slightly exceed BRL 18.5 billion for the new net remuneration base. - Copel is fully prepared for LRCAP auction on March 18, highlighting advantages of water front. - Rogerio Jorge took office as General Officer of GenCo, and Moacir Carlos Bertol serves on interim basis at Board of Directors

In Q4 '25, consolidated recurring EBITDA was BRL 1.4 billion, up 16% year-on-year. COPEL DISCO accounted for approximately 54% of the total, with recurring EBITDA of BRL 728.4 million in Q4 '25, a 1.8% year-on-year increase. The GenCo and TradeCo accounted for the remaining 46%. The GenCo had recurring EBITDA of BRL 654 million in Q4 '25, a significant 24% year-on-year increase. The TradeCo reversed the loss recorded in Q4 '2024 with recurring EBITDA of BRL 3.5 million. For the full year 2025, recurring EBITDA was nearly BRL 1.4 billion, and recurring net income was close to BRL 700 million, a 30% year-on-year increase. CapEx for the full year was BRL 3.4 billion. Leverage was 2.7x, in line with the optimal capital structure

• Expect to slightly exceed BRL 18.5 billion for the new net remuneration base in the DISCO Tariff Review. - LRCAP is an opportunity to create value and drive the company's strategy. - Regarding dividends, the policy has a minimum of twice a year with flexibility to consider different payment intervals

Q: Elaborate on LRCAP, including cap price and strategy; Q: Comment on energy balance market behavior; Q: Whether COPEL is considering paying dividends in installments; Q: Comment on capital allocation, potential M&As in distribution, and cyclical vs structural aspects; Q: View on energy prices for 2026 and how COPEL can benefit from it