1. 1 Conference Call 1Q12

2.  Reduction of 1.8% in consumption compared to 1Q11, mainly influenced by the residential class, due to lower temperature in the quarter and in the change criteria of treatment of clients with long- time delinquency.  In march/12, non-technical losses ratio reached 41.3% over the low-voltage market, mainly caused by the change criteria of treatment of clients with long-time delinquency. OPERATING PERFORMANCE 2  Increase of 4.7% in the net revenue (without construction revenue) that reached R$ 1,766.8 in 1Q12.  Costs of PMSO from Distribution segment reduced 0.5% in the quarter.  EBITDA of R$ 433.8 million in 1T12, decrease of 0.3%, with 24.6% of margin. Considering the effect of regulatory assets and liabilities, EBITDA would be 16.8% higher than 1Q11.  Net Income of R $ 140.1 million in 1Q12, a reduction of 15.8% compared to 1Q11. Considering the effect of regulatory assets and liabilities, net income would be 12.7% higher than 1Q11. Destaques  Operating cash flow (after interest payments and taxes) of $ 176.0 million in 1Q12, higher than the operating cash generated of $ 10.1 million in 1Q11.  Net debt of R $ 3,439.2 million, with net debt / EBITDA of 2.8x. RESULTS CAPITAL STRUCTURE

3. ELECTRICITY CONSUMPTION¹ TOTAL MARKET (GWh) 1 Note: To preserve comparability in the market approved by Aneel in the tariff adjustment process, the billed energy of the free customers Valesul, CSN and CSA were excluded in view of these customers’ planned migration to the Basic Network. 3 Energy Consumption Distribution -1.8% 6,291 6,087 27.5ºC 26.9ºC 1Q11 1Q10 5,558 6,180 1Q09 28.3ºC 28.0ºC +3.7% 1Q12 RESIDENTIAL 38% INDUSTRIAL 7% OTHERS 14% FREE 13% COMMERCIAL 28%

4. FREE CAPTIVE RESIDENTIALINDUSTRIALCOMMERCIAL OTHERS TOTAL 1Q111Q12 -1.8% 5,533 5,379 6,291 758 801 6,180 -0.7% 890 892 938 47 49 932 +2.1% 1,730 1,748 1,899 170 191 1,939 -0.4% 426 401 966 541 561 962 -5.6% 2,488 2,348 ELECTRICITY CONSUMPTION (GWh) TOTAL MARKET – QUARTER Total Market 4 1Q111Q12 1Q111Q12 1Q111Q12 1Q111Q12

5. 5 Collection COLLECTION RATE 12 MONTHS COLLECTION RATE BY SEGMENT QUARTER 94.0% 95.0% 92.0% 91.5% 98.9% 99.2% 95.1% 100.6% 1Q111Q12 97.3% 97.7% Mar/11Mar/12 PUBLIC SECTOR LARGE CLIENTSTOTALRETAIL

6. 6 Loss Prevention INCORPORATION GWh 1Q12 1Q11 23.1 50.0 -53.8% ENERGY RECOVERY GWh 1Q12 1Q11 14.5 13.0 LOSS (12 MONTHS) 41.6% 41.3% 40.4% 34.7% % Non-technical losses/ LV Market Technical losses GWh % Non-technical losses / LV Market - Regulatory 5,312 5,247 2,231 2,293 2,335 5,326 7,627 7,619 7,543 7,582 40.7% +12.1% Mar/11 Non-technical losses GWh Jun/11Dec/11Sep/11 2,328 5,229 41.3% 5,316 2,349 7,665 Mar/12 Reflets the change on treatment's criteria in the approach to long term delinquent customers, based on Aneel Resolution 414.

7. Net Revenue NET REVENUE (R$MN) 7 +3.8% 1,834.7 1,904.3 Generation 5.5% Distribution 91.8%** NET REVENUE BY SEGMENT (1Q12)* Comercialization 2.7% * Eliminations not considered ** Construction revenue not considered NET REVENUE FROM DISTRIBUTION (1Q12) Commercial 28.5% Industrial 6.4% Others (Captive) 11.7% Network Use (TUSD) 8.7% (Free + Concessionaires) Residential 44.8% 1Q12 1Q11 Construction Revenue Revenue w/out construction revenue 137.4 1,687.6 1,766.8 147.0 4.7%

8. 8 Operating Costs and Expenses Manageable (distribution): R$ 329.8 (22.9%) Generation and Commercialization: R$ 83.2 (5.8%) Non manageable (distribution): R$ 1,026.2 (71.3%) * Eliminations not considered DISTRIBUTION MANAGEABLE COSTS (R$MN) R$ MN1Q111Q12Var % PMSO168.5167.6-0.5% Provisions60.386.543.5% PDD 64.461.6-4.2% Contingencies -4.024.9- Depreciation75.975.7-0.2% Total304.7329.88.2% COSTS (R$MM) 1Q12 1Q11 1Q12 304.7 329.8 +8.2%

9. EBITDA CONSOLIDATED EBITDA (R$MN) 9 EBITDA BY SEGMENT* 1Q12 Generation 16.9% (EBITDA Margin: 75.6%) Commercialization 0.9% (EBITDA Margin: 7.8%) Distribution 79.3% (EBITDA Margin: 22.1%) *Eliminations not considered 433.8 434.9 -0.3% 1Q111Q12

10. 10 Net Income 1Q111Q12EBITDAFinancial Result TaxesOthers 166 140 (1) (31) 8 (2) NET INCOME 1Q12/1Q11

11. 11 Average Term: 3.9 years AMORTIZATION SCHEDULE* (R$ MILLION) Indebtedness 379 555 794 682 784 806 Nominal Cost Real Cost Mar/12Mar/11 2,134.9 3,439.2 NET DEBT 1.3 2.8 * Considering Hedge * Principal only COST OF DEBT US$/Euro 0.7%* CDI/Selic 71.7% TJLP 27.6% 20112010 2009 4.91% 10.15% 5.30% 9.84% 4.88% 11.08% 4.51% 11.01% Mar/12 Net Debt / EBITDA 20122013201420152016After 2016

12. Investments 12 CAPEX BREAKDOWN (R$MM) 1Q12 +32.5% 2010 2009 2008 563.8 546.7 928.6 CAPEX (R$MM) 700.6 2011 1Q121Q11 142.9 148.2 -3.6% Generation Projects 0.1 Quality Improvement 28.1 Generation Maintenance 3.4 Others 15.9 Develop. of Distribution System 58.1 Losses Combat 37.3 Investments in Electric Assets (Distribution) 124.1 24.1 125.4 17.5 453.8 92.9 446.9 116.9 518.8 181.8 758.7 169.9

13. 13 Important Notice This presentation may include declarations that represent forward-looking statements according to Brazilian regulations and international movable values. These declarations are based on certain assumptions and analyses made by the Company in accordance with its experience, the economic environment, market conditions and future events expected, many of which are out of the Company’s control. Important factors that can lead to significant differences between the real results and the future declarations of expectations on events or business-oriented results include the Company’s strategy, the Brazilian and international economic conditions, technology, financial strategy, developments of the public service industry, hydrological conditions, conditions of the financial market, uncertainty regarding the results of its future operations, plain, goals, expectations and intentions, among others. Because of these factors, the Company’s actual results may significantly differ from those indicated or implicit in the declarations of expectations on events or future results. The information and opinions herein do not have to be understood as recommendation to potential investors, and no investment decision must be based on the veracity, the updated or completeness of this information or opinions. None of the Company’s assessors or parts related to them or its representatives will have any responsibility for any losses that can elapse from the use or the contents of this presentation. This material includes declarations on future events submitted to risks and uncertainties, which are based on current expectations and projections on future events and trends that can affect the Company’s businesses. These declarations include projections of economic growth and demand and supply of energy, in addition to information on competitive position, regulatory environment, potential growth opportunities and other subjects. Various factors can adversely affect the estimates and assumptions on which these declarations are based on.