Hidroeléctrica de Cahora Bassa (HCB) S.A. ended 2023 with production of around 16,057.55 GWh, a figure that represents 12.36% above that year's projections and 2.0% above the volume of production achieved in 2022.

"The annual production achieved by December 31, 2023, is the highest in the last five years and is the result of careful management, the availability of water from the dam and the implementation of reinforced operation and permanent maintenance of the hydroelectric generation and transport equipment," said Tomás Matola, Chairman of the Board of Directors, quoted in the company's statement.

In the same press release, HCB also states that at the end of 2023, the storage level in the reservoir was at 75% of its useful capacity, the value recommended by the Dam and Reservoir operating standards with regard to operational hydraulic safety.

The company also says that the storage represents a considerable margin of the reservoir's inflow capacity, in the face of possible high inflows from dams and other tributaries upstream, at the peak of the rainy season that has just begun.

With regard to economic and financial performance, the company says it has invoiced its
main customers, considerable amounts and coinciding with hydroelectric power production and
tariff review abroad.

HCB also adds that the profit forecasts point to figures that will enable the
company to honor its commitments to the State and suppliers of equipment, goods and services.
services required for the project.

"The outlook for 2024 indicates a consolidation of HCB's main financial indicators, which will reinforce the company's strategic position as a key element for development and the national economy," said Tomás Matola.