Interconexión Electrica S A E S P : Financial situations of the issuer

Financial Results

Third Quarter 2022

Medellín, Colombia, October 31, 2022

ISA concluded the quarter with strong results: accumulated EBITDA reached COP 6,5 trillion, EBITDA margin reached 67,5% and ROE was 13,2%.

ISA S.A E.S.P. - Financial Results Third Quarter 2022

Message from Management

The quarter shows financial results that evidence the progress in compliance with the ISA2030 strategy, contributing to our pillar of sustainable value generation and guaranteeing the creation of value for shareholders and different stakeholders.

Comparing this quarter's results to those of the third quarter of 2021, ISA and its companies achieved 24,1% growth in operating income and 14,6% growth in EBITDA. Net income closed at COP 668 billion, 450% higher than the same period of the previous year.

During the quarter, projects in Colombia and Brazil entered into operation, representing a capex of USD 368 million and which will generate annual revenues of USD 49 million. Additionally, ISA was awarded the Kimal Lagunas project in Chile, whose capex amounts to USD 194 million and which will generate USD 14,7 million in revenues.

During the quarter, investments of COP 1,3 trillion were made, reaching an accumulated of COP 2,9 trillion for the year. We continue with our growth dynamic with 32 energy transmission projects under execution, which will represent more than 4,900 kms of circuit and will generate revenues of approximately USD 350 million when they enter into operation. ISA continues to be an enabler of the energy transition through the execution of projects that interconnect non-conventional renewable energy sources, taking them to large consumption centers.

In terms of ESG, we highlight the launching of the first school for female lineworkers in Colombia, which will allow 17 women to be trained and certified in the maintenance of electric power transmission lines. This program, a pioneer in the country, gives women in the regions where we are present the opportunity to perform work that has traditionally been done by men. These women are making history in the country, not only because of their new role, but also because with this opportunity they will provide new possibilities for their families.

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ISA S.A E.S.P. - Financial Results Third Quarter 2022

Relevant events of the quarter

2022 Third Quarter

During 3Q22, the following relevant events took place:

• As of January 1, 2022, the EBITDA calculation was modified in order to standardize it with Ecopetrol. We have restated the third quarter and the accumulated to September
  2021 in the following table for comparative purposes:

COP Millions

	9M22	9M21	3Q22	3Q21
EBITDA calculation, new methodology
(+) Operating revenues (construction and operation)	9.580.556	8.075.360	3.558.241	2.866.892
(-) Cost of construction, AOM and provisions, excluding	(3.744.767)	(2.881.202)	(1.474.682)	(1.037.227)
depreciation
(+) Other operating taxes	141.064	114.317	44.658	38.823
(+) Equity method and other net revenues	491.594	383.568	148.458	117.666
EBITDA, new methodology	6.468.447	5.692.043	2.276.675	1.986.154
EBITDA calculation, previous methodology
(+) Operating revenues (construction and operation)	9.580.556	8.075.360	3.558.241	2.866.892
(-) Cost of construction and AOM, excluding depreciation and	(3.637.949)	(2.788.125)	(1.450.357)	(998.969)
provisions
EBITDA, previous methodology	5.942.607	5.287.235	2.107.884	1.867.923
EBITDA variation	525.840	404.808	168.791	118.231

• In July 2022, Paraguaçu (jointly controlled by ISA CTEEP and TAESA) entered into operation, with an investment of approximately COP 478 billion and annual revenues of approximately COP 104 billion. The project, located between the states of Bahia and Minas Gerais, comprises a 338 km long line that connects the northeast and southeast regions of Brazil, allowing the flow of renewable energies to the territory's major consumption centers. Paraguaçu is connected to the Aimorés transmission line, also commissioned in May of this year by ISA CTEEP and TAESA.
• In July 2022, as approved by the Ordinary General Shareholders' Meeting held on March 25, 2022, ISA made the first dividend payment to its shareholders for COP 415 billion, corresponding to 50% of the net income for the year 2021. The second dividend payment will be made in December, for a total payment for the year of COP 830 billion.
• In July 2022, ISA Inversiones Chile incorporated the company Conexión Kimal Lo Aguirre together with Transelec and China Southern Power Grid International (CSG), where it made a capital contribution of COP 117 billion. This company will build and operate the Kimal-Lo Aguirre project in Chile, awarded in 2021.
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ISA S.A E.S.P. - Financial Results Third Quarter 2022

• In August 2022, ISA Intercolombia energized the Costa Caribe Interconnection project in Colombia (Cerromatoso-Chinú-Copey), awarded through UPME 05-2014 bid, with an investment of COP 743.259 million and annual revenues of close to COP 60 billion.
• In September 2022, ISA was awarded the Kimal-Lagunas project in Chile, which will represent an investment of COP 791 billion and annual revenues of COP 60 billion (USD 14,7 million). This is one of the most important transmission projects tendered in Chile and is key to the decarbonization of the country's energy matrix. The project will transport clean energy from Non-Conventional Renewable Energy Sources from the Kimal substation to the Lagunas substation.
• In September 2022, ISA CTEEP energized IE Biguaçu, which had an investment of more than COP 342 billion and will generate annual revenues of COP 38 billion. It is the first in Brazil to have overhead, submarine and underground transmission lines. It is considered the largest submarine transmission line in South America in alternating current and the first underground transmission line in Florianópolis.
• In September 2022, the road concessions business unit in Chile changed the treatment of the financial assets of its road concessions from Chilean pesos to UF, achieving a natural hedge with the debt. This generated a favorable impact on EBITDA of COP 180 billion, and on net income of COP130 billion.
• In October 2022, ISA, through ISA INTERCOLOMBIA and ISA TRANSELCA, complied with the provisions contained in Resolution CREG 101-027 of 2022 (modified by Resolution CREG 101 031 of 2022), for the voluntary reduction of tariffs.

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ISA S.A E.S.P. - Financial Results Third Quarter 2022

Financial results

Consolidated

ISA S.A. E.S.P. (BVC: ISA; OTC: IESFY) ("ISA" or "the Company"), a multi-Latin company engaged in the Electric Power, Road Concessions, and Telecommunications business units, announced its financial results for the third quarter of 2022.

ISA and its companies continue to obtain growing results that confirm their firm commitment to grow profitably and generate sustainable value for our shareholders. For the quarter, net income was COP 668 billion, up 450,4% from 3Q21 and EBITDA was COP 2.3 trillion, 14,6% higher than the one in the same period. In the accumulated amount, net income closed at COP 1,8

trillion and grew 45,6% versus 2021 and EBITDA was COP 6,5 trillion,

13,6% more than in 2021.

Excluding the effect of the re-profiling of Interchile's debt and the change in the Colombian income tax rate recorded in 3Q21 and not recognized this year, results remain solid. Excluding these expenses, income for the quarter grew 23,5% and in the accumulated amount 8,3% with respect to the same period of the previous year.

3Q22 Financial Results

A comparison of the financial results for the third quarter of 2022 versus the same period of the previous year shows that:

• Operating revenues for the quarter totaled COP 3,6 trillion, an increase of 24,1%.
• EBITDA reached COP 2,3 trillion, an increase of 14,6%. EBITDA margin was 64%, and 82,7% excluding construction.
• ISA's net income was COP 668.025 million, representing a 450,4% increase compared to 3Q21, with a net margin of 18,8%. Excluding the aforementioned non-recurringevents, it grew by 23,5%.
  This increase is mainly due to higher construction activity in all our geographic locations, the positive effect of PPI, IPP and TRM in Colombia, a lower tax expense due to the incorporation of Brazilian interest on equity in the effective tax rate, and the favorable impact of the modification in the treatment of financial assets in Chile. This was partially reduced by lower revenues in Brazil due to the performance of the IPCA, higher financial expenses due to a higher level of indebtedness and the effect of higher inflationary indexes, mainly in Chile. The ROE as of September reached 13,2%.
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