Conference Call 2th Quarter 2014

Highlights  Energy consumption grew by 3.0% between 2Q14 and 2Q13, driven by an 8.0% consumption increase in the residential segment;  Non-technical losses/BT market in the last 12 months stood at 41.9%, 0.5 p.p. down quarter-over- quarter with a drop of 2.3 p.p. year-over-year;  Collections fee in the quarter reached 103.5%, 0.7 p.p. down year-over-year;  Allowance for doubtful accounts (PCLD) of 1.7% of revenue from energy billing in 2Q14, 0.8 p.p. down on PCLD of 2.5% recorded in 2Q13;  DEC e FEC, in the last 12 months, increase 26.21% and 16.91%, respectively, in comparation with the same period of the previous year; OPERATING  Net revenue, excluding construction revenue, grew by 1.4% year-over-year, totaling R$ 1,601.5 million;  Consolidated EBITDA in 2Q14 of R$239.3 million, 13.9% down on 2Q13;  Net income for 2Q14 totaled R$15.3 million, compared to a net income of R$58.2 million in 2Q13;  Consolidated net debt of R$5,229.6 million, 2.1% down on the same quarter last year; FINANCIAL CDE FUNDS  CDE (Energy Development Account) transfer of funds to distribution companies to settle energy purchase commitments with CCEE (Electricity Chamber of Trade);  Amount of R$224.3 million in April and May was recorded in profit or loss as cost reduction with Portion A;  Total transfer of R$1,385 million in the first half, reducing its period tariff deficit to R$250 million, which will be passed on to consumers in the next tariff adjustment through the CVA.

Energy Consumption Distribution – Quarter 1 Note: To preserve comparability in the market approved by Aneel in the tariff adjustment process. the billed energy of the free customer CSN has been considered back. TOTAL MARKET (GWh) ¹ Industrial captive 5.3% Free 20.3% Others captives 14.0% Commercial captive 27.6% Residential captive 32.8% 2Q12 2Q11 2Q132Q % 6,304 5, ºC 23.1ºC 5,669 6, ºC 22.7ºC +4.6%

Energy Consumption Distribution – Accumulated 1 Note: To preserve comparability in the market approved by Aneel in the tariff adjustment process. the billed energy of the free customer CSN has been considered back. TOTAL MARKET (GWh) ¹ Industrial captive 5.1% Free 18.6% Others captives 13.6% Commercial captive 27.6% Residential captive 35.2% +5.5% 1H12 1H % 1H131H14 13,145 11, ºC 11,960 13, ºC 25.1ºC

Total Market RESIDENTIAL INDUSTRIAL COMMERCIAL OTHERS TOTAL 2Q132Q14 ELECTRICITY CONSUMPTION (GWh) TOTAL MARKET – QUARTER 2Q132Q14 2Q132Q14 2Q132Q14 2Q132Q14 FREE CAPTIVE 4,954 5,176 6,304 1,349 1, % % 1, ,017 1,428 1,085 1,041 1, % 1,972 2, % 1,748 1, % ,495

Total Market RESIDENTIAL INDUSTRIAL COMMERCIAL OTHERS TOTAL 1H131H14 ELECTRICITY CONSUMPTION (GWh) TOTAL MARKET - ACCUMULATED 1H131H14 1H131H14 1H131H14 1H131H14 FREE CAPTIVE 5, , % 10,526 11,292 13,145 2,618 2,576 13, % 1,806 1,880 1, , % 4, , ,787 2,086 2,010 2, % 4,395 4, % 3,625 3,827

Collection PCLD/Gross Revenue (Billed Sales) - Quarter COLLECTION RATE BY SEGMENT Quarter 2Q132Q % 104.5% 105.1% 101.8% 102.9% 108.1% Total Retail Large Clients Public Sector 104.2% 97.3% 2Q12 2Q1 4 2Q13 3.4% 2.5% 1.7% -0.8 p.p.

Loss Prevention LOSS (12 MONTHS) % Non-technical losses/ LV Market Non-technical losses GWh Technical losses GWh Jun/13 Sep/13Mar/14 Jun/14 Dec/13 INSTALLED METERS (Thousand Units) Communities Without Communities Jun/ % 5,738 2,614 8, % 5,972 2,843 8, % 5,953 2,629 8,815 5,905 2,647 8, p.p. 42.2% 42.4% 5,955 2,793 8,

Losses Combat Actions APZ Results By June. the program coverd 505 thousand customers in 29 APZs. which ones 22 had the results calculated: p.p

Net Revenue Industrial (Captive) 5.9% NET REVENUE (R$MN) Generation 7.5% Distribution 80.5%** NET REVENUE BY SEGMENT (2Q14)* Commercialization 12.0% * Eliminations not considered ** Construction revenue not considered NET REVENUE FROM DISTRIBUTION (2Q14) Commercial (Captive) 42.6% Others (Captive) 12.2% Network Use (TUSD) (Free + Concessionaires) 7.8% Residential (Captive) 31.5% Construction Revenue Revenue w/out construction revenue +3.5% ,755 3,677 2Q % 1H % ,816 4,098 2Q13 1H14 1,580 1,602 3,344 3, %

Operating Costs and Expenses Manageable (distribution): R$ 309 (18.8%) Generation and Commercialization: R$ 249 (15.2%) Non manageable (distribution ** ): R$ 1,084 (66.1%) * Eliminations not considered ** Construction revenue not considered DISTRIBUTION PMSO COSTS (R$MN) COSTS (R$MN)* 2Q14 COSTS (R$MN)* 1H14 Non manageable (distribution ** ): R$ 2,293 (66.0%) Generation and Commercialization: R$ 506 (14.6%) Manageable (distribution): R$ 677 (19.5%) R$ MN2Q132Q14Var.1H131H14Var. PMSO (212.0)(207.1)-2.3%(412.7)(412.3)-0.1% Provisions (66.6)(14.1)-78.8%(111.8)(79.4)-29.0% PCLD(48.4)(36.1)-25.5%(77.4)(61.4)-20.8% Contingencies(18.2)21.9-(34.4)(18.0)-47.5% Depreciation (83.8)(86.2)2.8%(164.5)(171.6)4.3% Other operational/ revenues expenses (5.7)(1.2)-79.5%(12.9)(13.3)2.6% Total (368.0)(308.5)-16.2%(701.9)(676.6)-3.6% % H141H % 2Q142Q13

Tarif Deficit 12 Tarif Deficit Balance CDE Fund Total Aporte CDE -1H14 (R$ MN) Decree 8203 (jan/14) SPOT market Involuntary Exposure 1,238 Availability contracts with thermal plants299 Hydrological Risk39 A-1 Auction Contract30 A-0 Auction Contract28 TOTAL1,635 (250) (1,635) 1,385 The remaining balance of R$ 250 millions refers to the portion of items not covered by the decrees, with an emphasis on: availability contracts in January, energy contracted through the A-1 auction, a portion of the energy contracted in the A-0 auction, hydrological risk, revenue from hydrological risk deducted from the January and February transfers and from the cut in the April transfer The exposure to the spot Market and its high prices, which reflect the low levels of hydro plant reservoirs and the dispatch of thermal plants, resulted in an expressive deficit for distributors

EBITDA EBITDA BY SEGMENT (R$ MN) Generation and Commercialization Distribution 56.0% % % 54.2% 37.4% 62.6% 2Q13 2Q14 1H13 1H % 36.7% 44.7% +9.9% % 699 Consolidated EBITDA (R$ MN) 2Q142Q13Var.1H141H13Var. Distribution % % EBITDA Margin (%) 9.2%12.5%-3.3 p.p.12.2%13.5%-1.3 p.p. Generation % % EBITDA Margin (%) 66.0%75.9%-9.9 p.p.78.6%79.1%-0.6 p.p. Commercialization % % EBITDA Margin (%) 11.1%2.8%8.3 p.p.9.2%4.6%4.6 p.p. Others and eliminations (4.9) (1.1) 360.2%(7.1) (3.3) 118.9% Total % % EBITDA Margins (%) 14.9%17.6%-2.7 p.p.18.9%18.6%-0.3 p.p.

EBITDA EBITDA 2Q13 EBITDA 2Q14 Net Revenue Non- Manageable Costs Manageable Costs (PMSO) Provisions Regulatory Assets and Liabilities Adjusted EBITDA 2Q13 Adjusted EBITDA 2Q14 Adjusted EBITDA – 2Q13 / 2Q14 (R$ MN) Other operacional revenues Equity Pikup - 9.4% % (110) (2) (4)

EBITDA EBITDA 1H13 EBITDA 1H14 Net Revenue Non- Manageable Costs Manageable Costs (PMSO) Provisions Regulatory Assets and Liabilities Adjusted EBITDA 1H13 Adjusted EBITDA 1H14 Adjusted EBITDA – 1H13 / 1H14 (R$ MN) Other operacional revenues Equity Pikup - 6.9% +9.3% (328) (10)(6) 32 (6)

Net Income 2Q13 2Q14 EBITDAFinancial Result TaxesDepreciation ADJUSTED NET INCOME 2Q13 / 2Q14 (R$ MN) Regulatory Assets and Liabilities Adjusted Net Income 2Q13 Adjusted Net Income 2Q % -30.8% 137 (39) (16) (3)

Net Income 1H13 1H14 EBITDAFinancial Result TaxesDepreciation ADJUSTED NET INCOME 1H13 / 1H14 (R$ MN) Regulatory Assets and Liabilities Adjusted Net Income 1H13 Adjusted Net Income 1H14 (16) (3) % - 6.8% (36) (8)

Indebtedness Average Term: 3.9 years AMORTIZATION SCHEDULE* (R$ MN) Nominal Cost Real Cost NET DEBT *ConsideringHedge * Principal only COST OF DEBT Q Net Debt / EBITDA 2.24% 8.21% 3.87% 10.49% 4.25% 11.03% 9.68% 3.55% TJLP 13.3% CDI 74.5% IPCA 11.0% Others 3.7% U$/Euro -2.7% , , Jun/ Jun/14Mar/

Investments CAPEX (R$ MN) CAPEX BREAKDOWN (R$ MN) 1H14 Generation 8.4 Administration 12.2 Others 5.0 Develop. of Distribution System Losses Combat Investments in Electric Assets (Distribution) Commerc./ Energy Eficiency % H13 1H

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.

Contacts João Batista Zolini Carneiro CFO and IRO Gustavo Werneck Superintendent of Finance and Investor Relations Mariana da Silva Rocha IR Manager ri.light.com.br