Enel Colombia closes the first nine months of 2026 with progress in energy infrastructure and reliability

• Enel Colombia consolidated the country’s largest solar cluster in the department of Atlantico, with the start of commercial operations at the Atlantico Solar Park and the capacity expansion of Guayepo I&II and Guayepo III. Together, the three solar parks form the country’s largest solar cluster, with 985 MWdc of installed capacity.
• In Bogota and Cundinamarca, Enel Colombia strengthened electricity infrastructure through the expansion of the Nueva Esperanza substation, doubling its capacity from 450 to 900 MVA, and the modernization of the Veraguas substation.
• In response to the challenges posed by the El Niño phenomenon, Enel Colombia has strengthened its operational preparedness measures through water resource monitoring, optimization of scheduled maintenance at its power generation plants, diversification of its energy supply portfolio, and modernization of electricity networks, while also promoting efficient energy use among its customers.
• Between January and September 2026, Enel Colombia recorded growth in EBITDA and net income, driven by the performance of its power generation and distribution businesses.

Bogota, October 29, 2026 – As of the end of September, Enel Colombia had invested COP 1.28 trillion, primarily in the development and modernization of its generation and distribution assets. Consolidated EBITDA reached COP 6.75 trillion, representing an 18% increase, while net income stood at COP 3.12 trillion, up 22% compared to the same period in 2025.

Between January and September 2026, the company achieved new milestones in solar power generation, implemented measures to maintain the availability of its power plants, and advanced electricity infrastructure projects to meet growing energy demand. These developments help strengthen the reliability of the national electricity system, particularly in light of the challenges posed by the El Niño phenomenon.

Greater Solar Capacity for a More Reliable Electricity System

As of September 30, 2026, Enel Colombia maintained its position as the country’s second-largest power generator by net installed capacity, with 4,396 MW, accounting for 19.8% of the National Interconnected System (SIN).

During the third quarter of 2026, Enel Colombia announced the start of commercial operations at the Atlantico Solar Park, located in the municipalities of Sabanalarga and Usiacurí. With a capacity of 256 MWdc and more than 400,000 solar panels, the park is expected to generate approximately 525 GWh annually, equivalent to the electricity consumption of approximately 737,000 people. During construction, the project created more than 2,500 jobs, over 75% of which were filled by residents of the department of Atlantico, contributing to the region’s economic and social development.

With the start of operations at the Atlantico Solar Park and the addition of 25 MW at Guayepo I&II and III, Enel Colombia consolidated the country’s largest solar cluster, comprising three solar parks with a combined installed capacity of 985 MWdc. With these developments, the company now has a portfolio representing approximately 50% of Colombia’s operational centrally dispatched solar capacity, further diversifying its generation mix of hydropower, solar, and thermal energy.

As part of the long-term clean energy auction organized by the Ministry of Mines and Energy and conducted by the Colombian Mercantile Exchange (BMC) in July 2026, Enel Colombia secured awards for both the sale and purchase of electricity. As a seller, the company secured 15-year contracts associated with the Atlantico Solar Park and the Valledupar solar project, with electricity deliveries scheduled to begin in 2030. Its participation as a buyer complemented its long-term contracting strategy and further diversified its commercial operations.

Meanwhile, the Termozipa Thermal Power Plant generated 126.5 GWh in July, its highest monthly output in the past ten years. This achievement underscores the role of thermal generation in complementing the company’s energy portfolio and providing backup capacity to the electricity system during periods of heightened demand.

Enel Colombia also reached an agreement with the Ministry of Mines and Energy and other industry stakeholders to exceptionally reschedule construction work on a new water intake structure at the El Guavio Hydroelectric Power Plant, helping ensure system reliability during the coming months of increased strain associated with the El Niño phenomenon.

Electricity Infrastructure to Meet Growing Demand and Climate Challenges

In its Distribution business, Enel Colombia invested COP 777,318 million to strengthen the capacity, reliability, and resilience of the electricity network in Bogota and Cundinamarca. These resources supported progress on infrastructure expansion, modernization, and renewal projects, including the construction of more than 228 kilometers of new power lines and upgrades to 173 kilometers of existing infrastructure.

During the third quarter of the year, the company completed the expansion of the Nueva Esperanza Substation, located in Soacha, with an investment of approximately COP 75 billion, doubling its installed capacity from 450 to 900 MVA. In addition to strengthening grid reliability, this milestone will increase the substation’s capacity to meet growing electricity demand in southern Bogota and the central-eastern region of the country, benefiting more than 11 million people.

Additionally, with an investment of approximately COP 7.7 billion, Enel Colombia made progress in modernizing the El Rosal substation, located in the municipality of El Rosal, and the Veraguas substation, located in the Puente Aranda district of Bogota.

As part of its preparations to address the challenges posed by the El Niño phenomenon, Enel Colombia has stepped up preventive maintenance and modernization efforts across its electricity networks in Bogota and Cundinamarca to mitigate risks associated with weather conditions and help ensure continuity of service. These measures are complemented by customer outreach initiatives aimed at promoting efficient and responsible energy use.

In this context, Enel Colombia has also supported efforts to raise awareness of the energy efficiency incentive program established by the Energy and Gas Regulatory Commission (CREG), informing customers about measures designed to encourage responsible electricity consumption. This initiative seeks to promote energy-saving habits that contribute to more efficient electricity demand management, particularly in light of the challenges posed by the El Niño phenomenon to the national electricity system.

Commitment to Communities: Energy Access, Emergency Response, and Environmental Protection

Enel Colombia continued to create value in the communities where it operates through initiatives that promote energy access, social development, and sustainability. In Medina, Cundinamarca, the company delivered 75 solar photovoltaic systems to rural families through the Works for Taxes mechanism. With an investment of more than COP 2,133 million, the project reached 19 rural communities and is helping close gaps in access to clean, reliable energy.

During the third quarter, the company also leveraged its technical expertise to support recovery efforts in Choco following the August 10 earthquake. Enel Colombia assisted DISPAC in restoring high-, medium-, and low-voltage networks, supplied approximately 230 metric tons of materials, and provided a 250 kVA generator to strengthen backup power capacity at Ismael Roldán Hospital.

On the environmental front, Enel Colombia strengthened its wildlife protection strategy in Bogota and Cundinamarca through community engagement, coordination with authorities, and technical modifications to its infrastructure to reduce risks to biodiversity and contribute to more sustainable operations.

These initiatives reflect Enel Colombia’s commitment to the communities and regions where it operates through efforts that expand energy access, support emergency response, and promote environmental protection. Amid growing climate-related challenges, the company continues to strengthen its response capabilities and work toward the well-being of local communities through initiatives that contribute to regional development and resilience.

9M 2026 Financial Results

The results reflect consolidated figures for Colombia, Panama, Guatemala, and Costa Rica for the January–September 2026 period.

During the first nine months of 2026, Enel Colombia and its subsidiaries achieved a contribution margin of COP 7.76 trillion, representing a 15% increase compared to the same period of the previous year.

In Colombia, the third quarter unfolded against a more challenging backdrop for the national electricity system, characterized by aggregate water inflows below historical averages, higher spot market electricity prices, and growing energy demand. However, these conditions varied across regions: while some of the country’s main power generation areas experienced lower water availability, the watersheds associated with Enel Colombia’s assets generally maintained more favorable conditions.

Against this backdrop, the company’s diversified generation portfolio, together with the strength of its distribution business and contributions from its Central American operations, supported its performance during the period.

In Colombia, the generation business contributed COP 4.13 trillion to the contribution margin, a 40% increase compared to the first nine months of 2025. This result was mainly attributable to:

• Higher revenue from electricity sales, driven by an increase in spot market prices, despite a lower volume of electricity sold in this market. This was complemented by growth in revenue from contracts, reflecting higher volumes of electricity sold and price adjustments in accordance with the agreed indexation mechanisms.
• Higher generation from the company’s own plants and lower electricity purchases. Electricity generation increased by 8.2% compared to the same period in 2025, with hydropower remaining the primary source in the company’s generation portfolio. This growth was driven mainly by higher solar and thermal power generation in response to system requirements. Meanwhile, electricity purchases decreased by 7%, contributing positively to the business’s contribution margin.

The contribution margin of the electricity distribution and retail business reached COP 3.03 trillion as of the end of September 2026, remaining virtually unchanged from the same period of the previous year, with a slight decrease of 0.5%.

This result was mainly driven by:

• Higher regulated remuneration for distribution activities, reflecting regulatory recognition of investments made in the electricity network and adjustments to the Operation and Maintenance components, strengthening the business’s regulatory asset base and the electricity infrastructure in Bogota and Cundinamarca.
• Contributions from complementary businesses, driven by the execution of projects for customers and third parties, as well as the performance of business lines such as public lighting and financial services, which continued to diversify the Company’s revenue streams.

However, these positive effects were offset by a lower contribution from electricity retail activities, associated with temporary effects on cost recovery through electricity tariffs.

As of the end of September 2026, Enel Colombia’s subsidiaries in Central America (Panama, Guatemala, and Costa Rica) contributed COP 590.25 billion to the consolidated contribution margin, representing a 20.8% decrease compared to the same period in 2025. In U.S. dollars, the functional currency of these operations, the margin declined by 7.5%, mainly due to lower generation in Guatemala and Costa Rica resulting from less favorable hydrological conditions, and reduced dispatch from the Fortuna Hydroelectric Power Plant in Panama. The larger decline reported in Colombian pesos was attributable to the appreciation of the Colombian peso against the U.S. dollar.

Fixed costs totaled COP 1.0 trillion, down 3.5% compared to the same period of the previous year. This decrease was mainly attributable to the base effect of a nonrecurring charge of COP 91,367 million recognized in 2025 for the recalculation of Bogota’s public lighting charges in favor of the Special Administrative Unit of Public Services (UAESP). The reduction was partially offset by the recognition of COP 68,572 million in wealth tax expense, established under the state of emergency declared by the National Government in February 2026.

Growth in the contribution margin, coupled with lower fixed costs, enabled consolidated EBITDA to reach COP 6.75 trillion as of the end of September 2026, representing an 18.4% increase compared to the same period of the previous year.

EBIT stood at COP 5.7 trillion, up 18.6% compared to the same period in 2025. This result reflected higher depreciation and amortization expenses associated with the commissioning of new assets, as well as an increase in impairment losses on accounts receivable in the generation business, mainly related to outstanding balances owed by a major participant in the electricity market.

Enel Colombia’s consolidated net income reached COP 3.12 trillion, representing a 21.8% increase compared to the same period in 2025. This result primarily reflected the following factors:

• Lower net financial expenses, mainly attributable to the base effect of COP 231,669 million in nonrecurring interest and other financial costs recognized in 2025 in connection with the obligation owed to the UAESP. This reduction was partially offset by higher financial costs linked to movements in the IBR and CPI, the indices to which 55% of financial debt is linked after hedging.
• Higher income tax expense, associated with higher pretax income and the impact of the wealth tax, recognized as a nondeductible expense under the Economic Emergency Decree. This increase was partially mitigated by tax benefits under Act 1715 related to investments in nonconventional renewable energy sources.

In Central America, the subsidiaries’ net income reached COP 231,717 million, representing a 25.8% decrease compared to the same period in 2025. In U.S. dollars, the functional currency of these operations, net income declined by 12.4%, primarily reflecting weaker operating performance during the period. The larger decrease reported in Colombian pesos was attributable to the currency translation effect resulting from the appreciation of the Colombian peso against the U.S. dollar.

As of the end of September 2026, Enel Colombia had invested COP 1.28 trillion, down 34.5% compared to the same period of the previous year. This change reflects the progression of the company’s investment cycle following the completion of the Guayepo III and Atlantico solar parks.

In the Generation business, investments focused on completing solar projects and maintaining and modernizing assets in Colombia and Central America, with the aim of preserving the availability and reliability of the company’s power generation fleet.

In Distribution, Enel Colombia invested COP 777,318 million to strengthen the capacity, reliability, and resilience of the electricity network in Bogota and Cundinamarca. These resources supported progress on infrastructure expansion, modernization, and renewal projects, including the construction of more than 228 kilometers of new power lines and upgrades to 173 kilometers of existing infrastructure. Through these efforts, the Company continues to prepare the electricity system to meet growing demand while improving service quality, continuity, and safety for more than four million customers in the region.

As of the end of September 2026, the company had contributed COP 1.69 trillion in tax payments in Colombia. Of this total, COP 1.43 trillion corresponded to taxes paid by the company itself, including COP 612,193 million in income tax payments and self-withholding taxes, while COP 260.94 billion corresponded to taxes collected from third parties.

Consolidated net financial debt stood at COP 6.55 trillion, down 20.9% compared to December 2025, mainly as a result of the company’s cash generation and debt portfolio management. During the third quarter, Enel Colombia received a disbursement of COP 251,615 million under Bancolombia’s Agrosostenible credit facility, with a ten-year term, to finance investments in rural areas within its area of influence. The company also fully prepaid a COP 260 billion loan from Bancolombia.

In September 2026, the Financial Superintendence of Colombia renewed the authorization for the public offering under Enel Colombia’s Bond and Commercial Paper Issuance and Placement Program for five years. The authorization, valid through September 2031, preserves the company’s flexibility to access capital markets and diversify its financing options.

Dividends

In July 2026, Enel Colombia made its first dividend payment of COP 968,854 million out of earnings for fiscal year 2025, as approved by the General Shareholders’ Meeting. During the period, the company received COP 149,183 million in dividends from its Central American subsidiaries, of which COP 106,366 million came from Panama and COP 42,817 million from Guatemala.

With these results, Enel Colombia and its Central American operations reaffirm their commitment to developing a more reliable, efficient, and sustainable energy system. The company will continue to advance renewable energy generation projects, strengthen electricity infrastructure, and work to address industry challenges, climate conditions, and the energy needs of the communities and regions where it operates.

For further information, please contact:

TATIANA LOZANO RAMIREZ

E-mail : tatiana.lozanoramirez@enel.com

ANNEXES

9M 2026 Operating Results – Generation Colombia

As of September 30, 2026, Enel Colombia maintained its position as the country’s second-largest power generator by net installed capacity, with 4,396 MW, accounting for 19.8% of the National Interconnected System (SIN). Its generation portfolio comprises 3,097 MW of hydropower capacity, 1,073 MW^[1] of solar capacity, and 226 MW of thermal capacity.

Compared to September 2025, net installed solar capacity increased by 385 MW, rising from 688 MWac to 1,073 MWac. This increase reflects the addition of 200 MW from Guayepo III and 180 MW from Atlantico, as well as an additional 5 MW recognized at Guayepo I&II following capacity validation through power output testing. Overall, Enel Colombia’s operational solar portfolio comprises six utility-scale solar parks located in Cesar, Magdalena, and Atlantico, with a combined capacity of more than 1,404 MWdc, representing approximately 50% of the country’s operational centrally dispatched solar capacity.

Additionally, under the temporary measures established by CREG Resolution 101-114 of 2026 to strengthen system reliability amid reduced water availability, Enel Colombia made 33.6 MW of additional solar capacity available for the temporary delivery of surplus electricity to the SIN, without changing its reported installed capacity.

During the first nine months of 2026, Enel Colombia contributed 20.6% of the electricity generated in the National Interconnected System, ranking as the country’s second-largest power generator. In the nonregulated market, the company achieved a market share of 13.7%, supplying an average of 299.73 GWh per month to 342 large electricity consumers nationwide.

Between January and September 2026, Enel Colombia’s total electricity generation reached 13,722 GWh, an 8.2% increase compared to the same period in 2025, driven mainly by higher contributions from solar and thermal power generation.

Enel Colombia’s total electricity generation was distributed as follows:

• 83% hydropower: Generation reached 11,470 GWh, up 1% compared to the same period in 2025, and remained the primary source in the company’s generation portfolio. The National Interconnected System recorded cumulative water inflows equivalent to 91% of the historical average (H.A.), while the watersheds associated with Enel Colombia experienced more favorable conditions, with inflows reaching 109% of the historical average. Notable results included Betania (126%), Bogota River (119%), Guavio (119%), and Quimbo (111%).
• 13% solar: Solar power generation reached 1,723 GWh, 52% higher than in the same period in 2025, increasing this technology’s contribution to the generation portfolio and strengthening the complementarity among the different generation sources.
• 4% thermal: Generation at the Termozipa Thermal Power Plant reached 529 GWh, representing a 213% increase in response to higher system requirements. Beginning September 7, its operations were also subject to the activation of the reliability support mechanism established under CREG Resolution 101 127 of 2026, which marked the beginning of the electricity supply shortage risk period and established, among other measures, a minimum thermal generation requirement to help preserve water reserves and safeguard the security of electricity supply.

As of the end of September 2026, Enel Colombia’s power generation fleet recorded an availability rate of 91.2%, an improvement of 2.3 percentage points compared to the same period in 2025, supporting its ability to meet the electricity system’s requirements.

9M 2026 Operating Results – Generation in Central America

As of the end of September 2026, Enel Colombia’s subsidiaries in Central America generated 1,910 GWh, representing a 2.8% decrease compared to the same period in 2025.

In Panama, generation reached 1,463 GWh, an increase of 3.1% compared to the same period of the previous year. This performance was driven by higher dispatch from the Fortuna Hydroelectric Power Plant during the first few months of the year. Subsequently, dispatch decreased in line with system requirements, as part of efforts to preserve water reserves and contribute to the security of electricity supply.

In Guatemala, generation totaled 281 GWh, a 20.4% decrease, mainly due to less favorable hydrological conditions that limited output from the power plants. Lower generation from the company’s own plants also increased the need to purchase electricity to meet the business’s contractual commitments.

In Costa Rica, generation reached 165 GWh, down 14.5% compared to the same period in 2025, reflecting lower water availability and scheduled maintenance and unplanned outages that temporarily affected plant availability. During the period, the company carried out maintenance work at Don Pedro, Río Volcán, and Chucás to preserve the reliability and operating performance of these assets.

Of the total electricity generated, 1,744 GWh came from hydropower and 166 GWh from solar generation, maintaining the 100% renewable profile of Enel Colombia’s generation portfolio in Central America.

Net installed capacity remained at 705 MW, comprising 543 MW of hydropower capacity and 162 MW of solar capacity.

9M 2026 Operating Results – Electricity Distribution in Colombia

Electricity demand in Colombia grew by 5.9% during the first nine months of 2026 compared to the same period in 2025. During the third quarter, this trend was accompanied by high temperatures across various regions of the country amid strengthening El Niño conditions. In July and August in particular, national electricity demand grew by more than 6%, while September saw new record highs in electricity consumption. These conditions primarily drove demand in the residential and small business segments, while the industrial and commercial sectors exhibited more moderate growth.

Meanwhile, electricity demand in Enel Colombia’s service area grew by 3.0% during the first nine months of 2026, reflecting consumption trends across its operating territory, particularly in the residential and commercial segments.

Against a backdrop of higher electricity demand and increased volumes of electricity flowing through the network, the energy loss rate stood at 7.62% as of the end of September 2026, representing an increase of 9 basis points compared to the same period of the previous year, mainly attributable to higher technical losses. Regarding nontechnical losses, the Company continued its energy loss control and recovery efforts, achieving cumulative energy recovery of 139 GWh, exceeding the target established for the period.

Enel Colombia’s customer base grew by 1.9% compared to December 2025, with the addition of 78,240 new customers, bringing the total to 4,129,353 customers as of the end of September.

Regarding service quality, the average duration of service interruptions continued to improve: cumulative SAIDI stood at 310.1 minutes per customer, a 3.2% reduction compared to the same period in 2025. Meanwhile, SAIFI stood at an average of 5.35 interruptions per customer, remaining virtually unchanged from the previous year.

Summary of Financial Results Enel Colombia