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Conference Call

Conference Call. 3rd Quarter 2013. Highlights. FINANCIAL. REGULATORY. Total energy consumption was 1. 7% higher than in 3Q 12, driven by the increase in consumption in the commercial segment, which grew by 2.5%;

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Conference Call

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  1. ConferenceCall 3rd Quarter 2013

  2. Highlights FINANCIAL REGULATORY • Total energy consumption was 1.7% higher than in 3Q12, driven by the increase in consumption in the commercial segment, which grew by 2.5%; • Collection in 9M13 stood at 101.1% of billed consumption, 2.3 p.p. up on 3Q12; • Non-technical energy losses of billed energy in the low-voltage market in the last 12 months closed the quarter at 43.7%, 1.7 p.p. down since December 2012; • In 9M13, investments totaled R$482.2 million, R$393.9 million of which in the distribution business. OPERATING • Consolidated Net Revenue (excluding revenue from construction) came to R$1,615.2 million, 3.8% up on 3Q12; • Consolidated EBITDA amounted to R$722.0 million in 3Q13, 161.1% up on 3Q12, positively impacted by the transfer of funds from the Energy Development Account (CDE), totaling R$303.4 million. Excluding this effect, EBITDA increased by 51.4%; • Net Income of R$321.5 million in 3Q13, 282.1% up on 3Q12, also affected by the transfer of CDE funds. Excluding this effect, net income grew by 44.1%; • Net Debt of R$4,151.6 million, with net debt/EBITDA ratio covenant of 2.68x; • Prepayment of R$160 million from the 5th debenture issue, at a cost of CDI plus 1.5% p.a. • On November 5, 2013, ANEEL approved the tariff revision process of Light SESA, with positive average effect on energy bills of 3.65% as of November 7, 2013.

  3. EnergyConsumptionDistribution – Quarter TOTAL MARKET (GWh) ¹ +2.8% Free16.1% +1.7% Industrial6.0% 5,581 5,486 Others15.8% 5,299 5,144 22.4ºC 22.1ºC 21.7ºC 21.6ºC Commercial29.5% Residential32.6% 3Q12 3Q13 3Q10 3Q11 1Note: To preserve comparability in themarketapprovedbyAneel in thetariffadjustmentprocess. thebilledenergyofthefreecustomers: Valesul, CSN and CSA wereexcluded in viewofthesecustomers’ plannedmigration to theBasic Network.

  4. Total Market ELECTRICITY CONSUMPTION (GWh) TOTAL MARKET – QUARTER +1.7% 5,897 5,754 +0.9% +2.5% 899 840 1,854 1,818 1,801 1,808 -0.2% +3.8% 207 181 4,682 4,645 982 983 928 894 48 1,647 47 1,627 643 613 880 847 370 338 3Q12 3Q13 3Q12 3Q13 3Q12 3Q13 3Q12 3Q13 3Q12 3Q13 OTHERS TOTAL RESIDENTIAL COMMERCIAL INDUSTRIAL FREE CAPTIVE

  5. EnergyConsumptionDistribution – 9 Months TOTAL MARKET (GWh) ¹ +2.3% +2.7% Free15.0% Others15.0% 17,419 17,884 16,729 17,259 Industrial5.8% 24.4ºC 24.3ºC 24.0ºC 23.9ºC Commercial29.5% Residential34.7% 9M12 9M13 9M10 9M11 1Note: To preserve comparability in themarketapprovedbyAneel in thetariffadjustmentprocess. thebilledenergyofthefreecustomers: Valesul, CSN and CSA wereexcluded in viewofthesecustomers’ plannedmigration to theBasic Network.

  6. Collection PCLD/Gross Revenue (Billed Sales) - 12 Months COLLECTION RATE BY SEGMENT 9 MONTHS 102.6% 102.0% 101.1% 100.9% 100.3% 99.7% 98.8% 97.5% PCLD / Gross Revenue Non recuring provision (4Q12) Total Retail Large Clients Public Sector 9M12 9M13 COLLECTION RATE - 12 MONTHS 99.6% 98.3% Sep/12 Sep/13

  7. LossPrevention LOSS (12 MONTHS) - 1.7% INSTALLED METERS (Thousand Units) 45.4% 44.9% 44.2% 43.7% 43.1% 410 32.0% 341 89 8,647 8,552 8,584 8,582 79 8,057 227 30 5,953 5,905 6,007 6,029 5,615 122 297 272 80 7 197 2 115 78 2,618 2,629 2,647 2,432 2,577 2011 2012 Sep/13 2009 2010 Mar/13 Jun/13 Sep/13 Sep/12 Dec/12 Technical losses GWh Non-technical losses GWh % Non-technical losses/ LV Market % Non-technical losses / LV Market - Regulatory

  8. LossesCombatActionsAPZ Results -26.5 p.p.

  9. LossesCombatActionsPacifiedCommunitiesResults By September, of the 34 pacified communities, Light is already present in 17 of them, having already completed the network reform in 9 of them: -52.9 p.p.

  10. Net Revenue NET REVENUE BY SEGMENT (3Q13)* NET REVENUE (R$MN) Commercialization 9.9% +3.4% Generation7.6% Distribution82,5%** 5,602.3 5,415.5 455.2 470.0 +0.6% * Eliminationsnotconsidered ** Constructionrevenuenotconsidered +4.1% 1,737.6 1,726.7 5,147.1 4,945.6 122.4 170.3 +3.8% NET REVENUE FROM DISTRIBUTION (3Q13) 1,615.2 1,556.4 Network Use (TUSD)(Free + Concessionaires)8.3% 3Q13 3Q12 9M13 9M12 Residential 40.9% Others (Captive) 13.0% Construction Revenue Revenue w/out construction revenue Industrial 6.5% Commercial 31.3%

  11. OperatingCostsandExpenses DISTRIBUTION MANAGEABLE COSTS (R$MN) COSTS (R$MN)* 3Q13 +3.4% Generation and Commercialization:R$ 206.2 (18.2%) 987.0 954.3 Non manageable (distribution**):R$ 614.6 (54.3%) +4.3% Manageable (distribution):R$ 311.5 (27.5%) 311.5 298.6 * Eliminationsnotconsidered ** Constructionrevenuenotconsidered 3Q13 9M13 3Q12 9M12

  12. EBITDA EBITDA BY SEGMENT* 3Q13 CONSOLIDATED EBITDA (R$MN) +40.3% 1,355.1 965.6 Generation14.3% (EBITDA Margin: 79.0%) +161.1% 722.0 Distribution 84.1% (EBITDA Margin: 42.7%) 276.6 Commercialization1.6% (EBITDA Margin: 6.8%) 3Q12 3Q13 9M12 9M13 *Eliminationsnotconsidered

  13. EBITDA Ajusted EBITDA – 3Q12 / 3Q13(R$ MN) - 0.6% + 161.1% (8) 12 (22) 303 (329) 100 722 119 59 393 395 277 Manageable Costs (PMSO) EBITDA3Q13 Regulatory Assets and Liabilities Net Revenue Non-Manageable Costs Adjusted EBITDA 3Q12 Regulatory Assets and Liabilities EBITDA3Q12 Provisions Adjusted EBITDA 3Q13 CDE Fund Others

  14. EBITDA Ajusted EBITDA – 9M12 / 9M13(R$ MN) + 7.6% + 40.3% 71 (60) (36) (109) 192 202 765 1,355 (552) 1,246 1,158 966 Manageable Costs (PMSO) EBITDA9M13 Regulatory Assets and Liabilities Net Revenue Non-Manageable Costs Provisions Adjusted EBITDA 9M12 Regulatory Assets and Liabilities EBITDA9M12 CDE Fund Adjusted EBITDA 9M13 Others

  15. Net Income ADJUSTED NET INCOME 3Q12 / 3Q13 (R$ MN) - 35.9% + 282.1% (9) (182) (17) 445 (217) 321 78 162 104 84 EBITDA Financial Result Taxes Others Adjusted Net Income 3Q12 Regulatory Assets and Liabilities 3Q12 3Q13 Regulatory Assets and Liabilities Adjusted Net Income 3Q13

  16. Net Income ADJUSTED NET INCOME 9M12 / 9M13 (R$ MN) - 1.1% + 73.6% 8 (166) (36) 390 (72) 127 458 387 391 264 EBITDA Financial Result Taxes Others Adjusted Net Income 9M12 Regulatory Assets and Liabilities 9M12 9M13 Regulatory Assets and Liabilities Adjusted Net Income 9M13

  17. Indebtedness AMORTIZATION SCHEDULE* (R$ MN) NET DEBT¹ WithoutPensionFund AverageTerm: 4.3 years 4,151.6 4,056.1 1,009 802 773 666 557 545 2,68 437 441 441 2,62 150 2013 2014 2015 2018 2019 2017 2016 2020 2021 After 2021 Jun/13 Sep/13 * Principal only Net Debt / EBITDA U$/Euro 0.2% COST OF DEBT TJLP15.1% IPCA 10.4% 11.08% 11.03% 8.21% 8.83% Others 1.5% 4.87% 4.25% 2.81% 2.24% CDI 72.8% 2010 2011 sep/13 2012 Nominal Cost Real Cost *ConsideringHedge 1Reclassified to reflect the deconsolidation results of jointly controlled companies.

  18. Investments CAPEX BREAKDOWN(R$ MN) 9M13 CAPEX (R$ MN) Develop. of Distribution System 253.5 928.6 796.8 -18.3% 153.8 700.6 102.7 527.8 563.8 482.2 45.8 181.8 116.9 88.3 774.8 694.1 518.8 482.0 Losses Combat 133.4 393.9 446.9 Others 7.1 302.3 2012 9M13 9M12 2010 2011 2009 Generation 14.1 Commerc./Energy Eficiency 53.8 Investments in Electric Assets (Distribution) Administration 20.3

  19. TariffReviewResults 3rdCicle

  20. - + = = TariffReviewnov/2013 + 9.08% +3.48% + 3.65% +2.28% + 2.46% Structural Repositioning 2013 Averageperception for consumers Financial Additions 2013 Parcel A: Non ManageableCosts Financial Additions 2012 - 6.62% Parcel B: ManageableCosts

  21. TariffReviewHighlights NET RAB R$ MN GROSS RAB R$ MN PMSOR$ MN REGULATORY EBITDAR$ MN 11,974 6,711 824 1,218 1,048 583 4,673 8,077 PARCEL B R$ MN DELINQUENCY X FACTOR GROSS WACC 1.22% 2,111 15.08% 0,95% 1,698 11.36% 0,90% 0%

  22. Remuneration Base and OPEX TOTAL ASSET BASE R$ 14,670 BN OPERATIONAL COSTS* R$ 908 MN Delinquency R$ 83 MN SpecialObligations+100% DepreciatedAssets+ IAS Integral R$ 2.695 BN AnnuitiesR$ 96 MN Net RABR$ 6,711 Bi Reference Company R$ 728 MN Gross RABR$ 11.974 BN AccumulatedDepreciation-100% DepreciatedAssetsR$ 5.263 BN * Correctedbyproductivityfactor

  23. Non-TechnicalLosses

  24. ConclusionsLight at the beginning of a new cycle: • Positive tariff revision and aligned with the characteristics of the concession area; • Most of the high investments in the last cycle (R$2.7 bn) were recognized in the Remuneration Base;   • Loss level on the way down: • Successful strategy based on Zero Loss Areas + Electronic Metering + Pacifying Police Units; • Additional funds allocated exclusively to combating losses assured in the Tariff Revision, with no impact on debt. • Generation remains an important growth driver for the group through the repricing of existing energy and growth in new projects; • Positive economic outlook in the concession area: investments in infrastructure and higher security; • Continuous pursuit of operational efficiency and improved quality.

  25. ImportantNotice 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.

  26. Contacts João Batista Zolini CarneiroCFO and IRO Luiz Felipe Negreiros de SáSuperintendent of Finance and Investor Relations +55 21 2211 2814felipe.sa@light.com.br Gustavo WerneckIR Manager + 55 21 2211 2560gustavo.souza@light.com.br ri.light.com.br www.facebook.com/lightri twitter.com/LightRI

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