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    Jorge Guimarães • JB Capital

    Jorge Guimarães's questions to EDP SA (EDPFY) leadership

    Jorge Guimarães's questions to EDP SA (EDPFY) leadership • Q1 2025

    Question

    Jorge Guimarães from JB Capital inquired about the potential remuneration EDP could receive for equipping thermal plants in Portugal with 'Black Start' capabilities. He also asked about the potential impact on the gross margin of the Portuguese distribution business resulting from the new CapEx plan presented to the regulator.

    Answer

    CEO Miguel de Andrade clarified that the remuneration for Black Start services is not material, describing it as being in the 'low single-digit' millions. Regarding the distribution margin, he did not provide a specific figure but noted that the increased investment is expected to drive mid-single-digit growth in the Regulated Asset Base (RAB), from which margin impacts could be inferred.

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    Jorge Guimarães's questions to EDP SA (EDPFY) leadership • Q1 2025

    Question

    Jorge Guimarães of JB Capital inquired about the potential remuneration EDP could receive for equipping more thermal plants in Portugal with 'Black Start' capabilities. Additionally, he asked for an outlook on the gross margin impact for the Portuguese distribution business resulting from the proposed CapEx plan.

    Answer

    CEO Miguel Stilwell de Andrade stated that while two additional hydro plants are being fitted for Black Start, the remuneration is not material, describing it as in the low single-digit millions. Regarding the gross margin impact, he did not provide a specific figure but reiterated that the increased investment would lead to mid-single-digit growth in the Regulatory Asset Base (RAB) over the period.

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