Energisa Mato Grosso – Distribuidora de Energia S.A. is an electricity distribution utility that operates in the State of Mato Grosso and is part of Grupo Energisa. Originally incorporated on August 4, 1956 under the name Centrais Elétricas Matogrossenses S.A. – CEMAT, it was created with the goal of avoiding an imminent collapse in the state’s power supply. Over the following decades, the company expanded its activities beyond distribution, also starting to operate power generation, transmission and transformation systems, in line with the then prevailing model of vertically integrated companies in the sector. On October 25, 1994, it became a publicly traded company, initiating the trading of its shares, which are currently represented by the tickers ENMT3 and ENMT4 on B3 – Brasil, Bolsa, Balcão.

The corporate history of Energisa Mato Grosso is marked by periods of state control, privatization and changes in the controlling group. Between 1996 and 1997, the company was managed by the Government of the State of Mato Grosso in partnership with Eletrobras, under the intervention of BNDES, in a context of reorganization of the Brazilian power sector. In November 1997, the then CEMAT was privatized, being acquired by Rede Energia and Inepar. Years later, in 2012, the Agência Nacional de Energia Elétrica (ANEEL) ordered an administrative intervention in the distributor, which lasted until 2014. In January 2014, the transfer of indirect control to Energisa S.A. (ESA), the operating holding company of Grupo Energisa, was approved by ANEEL, ending the intervention period. In February 2015, the company adopted its current name, Energisa Mato Grosso – Distribuidora de Energia S.A., and began to operate within a broader strategy of reorganization and operational strengthening of the group.

Energisa Mato Grosso’s business model is focused on the activity of electricity distribution, the subject of a federal public concession. As of December 31, 2024, the company served approximately 1.7 million customers in 142 municipalities in Mato Grosso, through a network that covers a concession area of around 903,208 km², equivalent to approximately 10.9% of Brazilian territory, with an estimated population of 3.6 million inhabitants. The company operates as a natural monopoly in its concession area, being the only electricity distribution utility in the State of Mato Grosso. Its revenues arise almost entirely from the provision of distribution services, including supply to the captive market, revenue from the use of the system (TUSD) associated with the free market, sales to other distributors and revenues from related services, such as construction of infrastructure linked to the concession.

Operationally, Energisa Mato Grosso obtains the energy needed to serve its market through regulated contracts, mainly via Power Purchase Agreements in the Regulated Market (CCEAR), entered into in auctions organized by ANEEL and the Ministry of Mines and Energy (MME). The distributor is responsible for delivering the energy to the end consumer and for operating and maintaining the distribution network at levels of quality, continuity and safety defined by sector regulation. In June 2025, the total volume of energy distributed, adding the captive market and the use of the system by free consumers, reached 2,745 GWh in the quarter, with growth particularly among free consumers and in the residential class. The company does not have material dependence on any single customer, as no individual consumer unit accounts for more than 10% of its net operating revenue, which provides diversification of the user base among residential, industrial, commercial, rural, government, public lighting and other consumption segments.

Energisa Mato Grosso operates in a heavily regulated environment. The company operates based on Concession Agreement No. 03/97-ANEEL, valid until December 11, 2027, which sets forth rights, obligations, criteria for reversion of assets and conditions for possible compensation of non-depreciated assets at the end of the concession. Tariffs applied to consumers are defined and approved by ANEEL through annual adjustment processes and periodic tariff reviews, with the aim of preserving the economic and financial balance of the concession and ensuring tariff affordability. Brazilian sector legislation, including the Concessions Law and the New Power Sector Model Law, governs aspects such as adequate service provision, universal access, strict liability for damages and open access to the grid for free consumers and generators, which directly affects the distributor’s operations and investment planning.

As part of the organization of the Brazilian power sector, Energisa Mato Grosso is subject to the rules and decisions of several institutions, including, notably, the Ministry of Mines and Energy, ANEEL, the National Council for Energy Policy (CNPE) and the Electric Power Commercialization Chamber (CCEE). The distribution segment is structured as a natural monopoly by concession area, with regulatory separation of generation and transmission activities, and specific rules for energy contracting, serving free consumers, contract registration and participation in short-term market settlement mechanisms. Recent and ongoing regulatory changes, such as the gradual expansion of the free power market and the review of sector subsidies and charges, may change the consumption profile between captive and free markets in Energisa Mato Grosso’s concession area, requiring the distributor to adapt continuously.

Energisa Mato Grosso’s geographic footprint is entirely concentrated in Brazilian territory and restricted to the State of Mato Grosso, with no revenue from abroad. In 2024, 100% of net operating revenue of R$ 8.214 billion was generated in Brazil, reflecting exclusively the provision of public power distribution services in the granted area. The company maintains an operating structure with thousands of employees, focused on maintaining and expanding the network, commercial and operational customer service, as well as technological modernization, automation and initiatives to improve quality indicators required by regulation, such as the duration and frequency of supply interruptions.

In the environmental, social and governance (ESG) arena, Energisa Mato Grosso is part of Grupo Energisa’s corporate strategy, which prepares an annual Sustainability Report in compliance with Global Reporting Initiative (GRI) standards and ANEEL’s social-environmental requirements. The report, audited by an independent entity, includes a materiality matrix with relevant topics such as energy transition and efficiency, service quality, worker health and safety, climate change, customer relations, biodiversity, ethics and compliance, universal access to energy, grid resilience, people management and data protection. This reporting framework seeks to systematize environmental, social and governance indicators, linking them to the management of risks and impacts of the distribution business, in line with commitments undertaken by the group, such as the UN Global Compact and the UN Sustainable Development Goals.

Energisa Mato Grosso’s presence on B3, with common and preferred shares under the tickers ENMT3 and ENMT4, places the company among the publicly listed utilities in the Brazilian capital market. Trading on the stock exchange involves governance practices in line with regulatory requirements and with the transparency expectations of shareholders and other stakeholders, including the periodic disclosure of results, capital structure, leverage profile and operating performance of its distribution concession in the State of Mato Grosso.