HCB Shareholders Approve 2024 Management Report and Accounts

In the same session, the distribution of dividends in the order of 7.4 billion Meticais was approved from a net result of 14.1 billion Meticais, the highest in the company's history.

The shareholders of Hidroeléctrica de Cahora Bassa, SA (HCB), one of the largest independent energy producers in southern Africa, unanimously approved, at the Ordinary General Meeting held on 21 April, the company's management and financial report for the 2024 financial year, whose net profit was 14.1 billion Meticais, representing a growth of 8.48% compared to 2023, being the largest in the history of the enterprise, with five decades of existence. This net profit is the combined corollary of the total production generated in 2024, which was 15,753.52 GWh, and the adjustment of the tariff for the sale of energy abroad. 2022/4/20/ACA/Print/31.1 “Despite the hydrological restrictions, HCB, through careful and judicious management, managed to achieve, in 2024, noteworthy financial results, the highest in its entire history. Thus, on net results, the 52.55% dividends approved by HCB's Ordinary General Meeting amount to around 7.4 billion Meticais. In particular, just over 6.5 billion Meticais will be channeled to the Mozambican State, which, associated with taxes and fees, will reinforce the State Budget, necessary for the implementation of the country's social programs” – Tomás Matola, Chairman of the Board of Directors of HCB. It should be noted that HCB's shareholders positively analyzed, at the same Ordinary General Meeting, other matters of interest to the company, which celebrates its 50th anniversary in June this year. On the occasion, the shareholders congratulated HCB's employees and the Board of Directors for their professionalism and responsible management, which has led to positive results, while also urging the strengthening of corporate governance standards.