Carolina Senna - IR Reynaldo Filho - CEO Leonardo Magalhaes - CFO Marney Antunes - CDO Marco Soligo - CPO Carolina Senna The transaction was concluded a large transaction. It's BRL 2.7 billion adjusted by the CDI. There is another less HPP's auction to happen now in July. So we are moving forward with our divestment in minority stakeholding and nonstrategic assets so that we can focus in our strategic assets, which are distribution, generation and transmission and managers. And here, once again, we have res ...

Table of Contents Annual Report and Form 20-F 2023 CEMIG Logo Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 or ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 or ☐ SHELL COMPANY REPORT ...

Financial Data and Key Metrics Changes - The company reported a record net income of BRL 5.36 billion for 2023, reflecting a significant increase compared to previous years [34][76] - Adjusted EBITDA for Q4 2023 was greater than BRL 2 billion, with a recurring EBITDA growth of 16.6% over 2022 [32][34] - The company achieved a dividend yield of 12.4%, which is considered attractive in the current market environment [67][80] Business Line Data and Key Metrics Changes - CEMIG Distribution (CEMIG D) saw an EBITDA growth of almost 35% in Q4 2023, driven by a tariff review and increased demand due to higher temperatures [5][34] - CEMIG GT reported a recurring EBITDA growth of 37.7% in Q4 2023 compared to Q4 2022, with net income growing by 58.9% [13][34] - Gasmig, a natural gas distribution company, posted an EBITDA growth of 21.9% in 2023, attributed to tariff reviews and new investments [14] Market Data and Key Metrics Changes - The captive market for CEMIG D experienced a 2.4% growth, while distributed generation (DG) saw a 55% increase in energy injected compared to 2022 [8][34] - The migration of clients to distributed generation has impacted the concession area, with 18.4% of the total captive market now utilizing DG [7][8] Company Strategy and Development Direction - The company is focusing on divesting non-core assets and investing in regulated sectors, with a record investment plan of BRL 35.6 billion [70][76] - Future investments are planned to exceed BRL 6 billion in 2024, with a significant portion allocated to distribution [30][70] - The company aims to maintain its leadership in the trading sector while preparing for market openings [76] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to meet regulatory thresholds and maintain operational efficiency [12][73] - The company is committed to creating value for shareholders through both dividends and reinvestments in regulated sectors [20][22] - Management highlighted the importance of focusing on core activities and improving operational performance to drive future growth [66][70] Other Important Information - The company completed a successful debenture issuance of BRL 2 billion, reflecting strong investor confidence [39][40] - CEMIG has joined various sustainability initiatives, including the UN Global Compact, demonstrating its commitment to ESG principles [27] Q&A Session Summary Question: Could you comment on the growth of DEC in 2023? - Management acknowledged an increase in DEC due to extreme weather events but assured that it is back within regulatory thresholds as of February [55][56] Question: What is the company's approach to divestments? - The company has divested from non-strategic assets, generating significant cash inflow and avoiding capital injections in complex assets [16][17] Question: How does the company plan to handle actuarial liabilities? - Management stated that they are seeking structural solutions for actuarial liabilities and are awaiting court decisions on related matters [87]

IFRS 1,969 2,453 1,406 1,886 Gain on disposal of investment – –288 – –202 Surpluses Sales Mechanism (MVE) –204 – –144 – Other adjustments –106 – –70 – FX exposure – Eurobond hedge – – 12 – RECURRING 1,658 2,163 1,204 1,684 11 EBITDA 1,969 2,453 +24.5% +30.5% 1,658 2,163 4Q22 recurring 1,406 1,886 +34.0% +39.8% 1204 1684 4Q22 4Q23 recurring recurring 4Q22 IFRS 4Q23 IFRS 4Q23 RESULTS 4Q23: Consolidated operational costs and expenses Manageable expenses rose less than inflation PMSO costs – 4Q22–4Q23 Increase ...

Thank you very much, Leonardo. So moving on into each one of the businesses. Let's start on the Cemig consolidated results in 2023. This is a clean result as a nonrecurring effect. We have the reversion of the provision in the first quarter for the sale of the SHPPs as we mentioned. So the recurring EBITDA when we analyze it, we grew 28% when compared to the same quarter in the past year and our profit was up 20%. I draw your attention to the recurring result. As our CEO mentioned, we should close the year ...

Ratings Breakdown by type 32% 37% 31% Dollar IPCA CDI 13 Classificação: Direcionado Earnings Presentation 3Q23 CEMIG D – 3Q23 RESULTS 3Q22 IFRS 3Q23 IFRS EBITDA NET PROFIT Classificação: Direcionado Earnings Presentation 3Q23 BENCHMARK IN ESG 23 consecutive years in the index. The only company in the Americas from the energy sector Leader in the Brazilian energy sector: AA S&P Global Brazil's first AGRIVOLTAIC project Cemig, Epamig and CPQD* form partnership • Expanding land use, building innovative clean e ...

5 Results Presentation 2Q23 Index DIGITAL TRANSFORMATION Investments of R$1 billion in 2022–27 Belo Horizonte, July 31, 2023. Index 5. Earnings Presentation 2Q2023 OUR ENERGY TRANSFORMS EARNINGS 2Q23 網 管 ( TIBEX CMIG3 NIVEL 1 CMILL 1 IBRX100 B3 IEE B3 ISE B3 ICO2 B3 laster Index | --- | --- | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Financial Data and Key Metrics Changes - The company reported an adjusted EBITDA of BRL2 billion for the quarter, with an annualized figure close to BRL8 billion, reflecting a growth of almost 7% compared to the previous quarter [4] - Net profit for the quarter was BRL1.2 billion, indicating consistent results and a growth of 6.6% year-over-year [42][23] - The company generated BRL4 billion in operating cash flow over six months, ending with BRL3.8 billion in cash [44] Business Line Data and Key Metrics Changes - The trading segment of Cemig achieved an EBITDA of over BRL600 million in the first half of the year, demonstrating effective market engagement [18] - Investments in distribution for the first half of the year were BRL1.7 billion, nearly double the total investment made in 2018 [15] - The company is constructing 180 megawatts of photovoltaic plants and has plans for 540 megawatts in distributed generation [6] Market Data and Key Metrics Changes - The electricity market for Cemig D saw a 0.7% growth in consumer and transported energy, with a significant 56% increase in distributed generation [45] - The state of Minas Gerais is presenting growth opportunities, with transported energy growing by 3.3% despite a 1.7% drop in overall consumption [45] Company Strategy and Development Direction - The company is focused on a BRL42 billion investment program over the next five years, targeting distribution, transmission, and generation of energy in Minas Gerais [11] - Cemig aims to maintain its leadership in the state of Minas Gerais while expanding its market share in the retail sector as the market opens [19][34] - The company is investing in digital transformation and automation, with a commitment to modernizing its operations [20][35] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's results for the end of the year, citing a robust investment program and positive tariff reviews [23][25] - The Brazilian electric sector faces challenges in centralized generation due to high supply levels, but demand is expected to pick up [7] - The company is committed to maintaining operational efficiency and meeting regulatory limits, with a focus on cash generation [29][54] Other Important Information - Cemig issued BRL2 billion in sustainable bonds, reflecting market confidence and supporting investments in social programs [22] - The company has a strong commitment to ESG initiatives, including a diversity program and significant reductions in CO2 emissions [21][37] - The company is undergoing a divestment process for non-strategic assets, with several assets already sold [48] Q&A Session Summary Question: Can you comment on GASMIG's results and the significant gap compared to regulatory limits? - Management explained that GASMIG's results are influenced by a recent tariff review that integrated off-balance regulatory payments, leading to improved EBITDA and profit [70] Question: How is the negotiation with the government regarding thermal dispatch and exports progressing? - Management indicated that discussions are ongoing, but no definitive timeline is available for the resolution of these negotiations [74] Question: Will the BRL1 billion investment in automation and technology be included in the remuneration base? - Management confirmed that most of the investment is operational expenditure, which will be covered by the tariff review [77] Question: What is the strategy for Eurobond rollover? - The company plans to manage liability in stages, reducing FX exposure and potentially switching to local debt due to current market conditions [84] Question: Update on GASMIG's IPO and divestment in Taesa? - Internal preparations for a potential IPO of GASMIG have been completed, but no decision has been made yet [86]

EARNINGS Strengthening internal controls to ensures SOX compliance CIG CIG.C DISCLAIMER Certain statements and estimates in this material may represent expectations about future events or results which are subject to risks and uncertainties that may be known or unknown. There is no guarantee that events or results will occur as referred to in these expectations. Important factors that could lead to significant differences between actual results and the projections about future events or results include Cemi ...

Financial Performance - Total energy sales to final customers in 2022 reached 26,365 million Reais, slightly down from 26,665 million Reais in 2021[133] - Net revenue increased by 2.42% from R$33,646 million in 2021 to R$34,463 million in 2022[162] - Total revenue from energy sold to final customers in 2022 was R$30,158 million, a 1.82% increase from R$29,619 million in 2021[164] - Revenue from construction distribution increased by 75.27% to R$3,246 million in 2022, driven by a higher execution of CEMIG D's investment plan[170] - Revenue from supply of gas rose by 30.52% to R$4,529 million in 2022, attributed to a 16% readjustment in the natural gas margin[170] - The company reported a net cash increase of R$1,939 million in net income, adjusted for the reconciliation of net cash[151] - In 2022, the company's net revenue was R$20,919 million, a decrease of 6.38% compared to R$22,345 million in 2021[201] - Gross electricity supply revenue fell to R$20,209 million in 2022, down 6.93% from R$21,713 million in 2021, primarily due to a 2.45% decrease in the volume of energy sold[201] Energy Sales and Rates - The average rate for residential customers in 2022 was R$ 903.10 per MWh, a decrease from R$ 994.43 in 2021[133] - The average rate for industrial customers in 2022 was R$ 329.10 per MWh, showing a slight increase from R$ 322.41 in 2021[133] - The average rate for commercial customers in 2022 was R$ 687.17 per MWh, an increase from R$ 662.38 in 2021[133] - The average tariff on free customers increased by 22.82% in 2022 compared to 2021, reflecting higher consumption by industrial and commercial customers[168] Debt and Financing - The company repurchased US$ 244 million of its Eurobonds in December 2022, reducing the outstanding debt principal to US$ 756 million, maturing in 2024[136] - CEMIG provided total financing guarantees amounting to R$ 10,579 million as of December 31, 2022, down from R$ 11,364 million in 2021[137] - CEMIG's net debt to adjusted EBITDA ratio is required to be 2.5 or less, and the company is compliant with all covenants as of December 31, 2022[138] - The company's total indebtedness from loans and debentures as of December 31, 2022, was R$10,580 million, down from R$11,364 million in 2021[155] - The company aims to maintain a consolidated net indebtedness at or below 2.5 times Adjusted EBITDA[154] Investments and Capital Expenditures - The company plans to allocate R$5,726 million for capital investments in 2023, primarily for the expansion of its distribution system[141] - CEMIG invested R$24 million in 37 research and development projects in 2022, focusing on energy systems and environmental control technologies[140] - Infrastructure construction costs totaled R$3,536 million in 2022, a 73.67% increase from R$2,036 million in 2021, reflecting higher investment volumes[182] Operating Costs and Expenses - Total operating costs and expenses were R$29,679 million in 2022, reflecting a 5.10% increase from R$28,237 million in 2021[196] - Expenses due to energy purchased for resale decreased by 9.24% to R$14,614 million in 2022, compared to R$16,101 million in 2021[173] - The cost of energy decreased by 19.63% to R$11,938 million in 2022, primarily due to lower electricity purchase costs and reduced electric system usage charges[186] - Personnel expenses in 2022 were R$1,352 million, an increase of 8.94% from R$1,240 million in 2021, driven by an 11.08% salary adjustment[175] Market and Economic Conditions - CEMIG's foreign currency-denominated debt may adversely affect its financial position during periods of Real depreciation against the U.S. dollar[144] - The company faces risks from political and economic conditions in Brazil, which can directly impact its business and financial condition[301] - CEMIG's operations may be adversely affected by climate change, health epidemics, and labor unrest[300] Employee and Management Information - CEMIG's total employee count decreased from 5,254 in 2020 to 4,969 in 2022, with management level employees remaining relatively stable at around 190[263] - The total compensation for CEMIG employees in 2022 was R$37 million, consistent with 2020 but slightly increased from R$34 million in 2021[255] - The company has a Careers and Remuneration Plan established in June 2022 to maintain a competitive compensation structure and promote employee development[265] - The Executive Board of CEMIG consists of seven members, with terms expiring at the Annual General Meeting in April 2024[273] Legal and Regulatory Issues - The company faced multiple criminal actions related to tax evasion involving its Board member, Mr. José João Abdalla Filho, with ongoing legal proceedings[251][252] - The company cannot guarantee the renewal of existing concessions or the acquisition of new ones, which could materially affect its operations[311] Miscellaneous - CEMIG is a state-controlled mixed capital company organized under Brazilian laws, with financial statements prepared in accordance with IFRS[291] - The exchange rate used for translating Reais to U.S. dollars is R$5.2860 to US$1.00 as of December 30, 2022[291] - CEMIG's actual results may differ substantially from forward-looking statements due to various risks and uncertainties[294]