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]

We believe we will see positive effects in the company's balance sheet, thanks to this strategy to create this new healthcare plan. And this is the initial effect, though and I understand it already shows the initial delivery that we have been promising to the market to reduce the post-retirement liabilities that the company has. And thanks to this number of actions that the company is adopting. We still have clients that are migrating to GT and just in this quarter we had 8.1%. I will show you further on h ...

Financial Data and Key Metrics Changes - The company has improved its financial results over the past few years, indicating a positive trend despite being a state-owned entity [3][17] - The market value of Cemig for the state is around 17%, with potential increases if privatization occurs [4] - The company has achieved a significant improvement in its credit rating, moving from five times net debt over EBITDA to less than one time, resulting in a rating of AA+ [13] Business Line Data and Key Metrics Changes - The company has made substantial adjustments in its operational costs, with a reduction of over R$700 million annually, representing more than 15% of its PMSO [12] - Cemig has focused on capital allocation efficiency, moving away from minority shareholdings outside Minas Gerais, which previously destroyed value [10][11] - The company has significantly increased its investments in distribution, generation, and transmission, with a new strategic plan totaling R$42 billion [33] Market Data and Key Metrics Changes - Minas Gerais has seen an increase in its relative share of Brazil's GDP, reaching 9.2% in 2022, up from 8.7% four years ago, indicating a growing market for Cemig [25] - The company has been a leader in distributed generation, accounting for 25% of Brazil's remote distributed generation [37] Company Strategy and Development Direction - The company's strategy focuses on concentrating investments in Minas Gerais and maximizing value creation through prudent capital allocation [26][27] - Cemig aims to accelerate its transformation process and increase investment in regulated markets, with a clear focus on operational efficiency [26][39] - The company has shifted to a model of 100% ownership in new projects, moving away from partnerships to enhance control and efficiency [57] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenges of operating as a state-owned company but emphasizes the importance of improving management and agility [19][17] - The company is committed to achieving carbon neutrality by 2040, with interim goals set for 2030 [46][47] - Management believes that the company's results are consistent and repeatable, indicating a strong operational trajectory [20] Other Important Information - The company has successfully simplified procedures for low-income tariff programs, benefiting 1.2 million families [45] - Cemig has been recognized in the Dow Jones Sustainability Index for over 20 years, highlighting its commitment to sustainability [47] Q&A Session All Questions and Answers Question: About expansion in generation and capital costs - The company has invested in greenfield projects and emphasizes the importance of generating energy internally rather than outsourcing [76] Question: Return rates and distribution investments - Management discussed the return rates for distribution investments, aiming for zero disallowance and ensuring capital costs are lower than regulatory levels to generate value [77][79]

Companhia Energética de Minas Gerais (NYSE:CIG) Q3 2022 Earnings Conference Call November 16, 2022 1:00 PM ET Company Participants Carolina Sena - Investor Relations, Superintendent Reynaldo Passanezi Filho - CEO Leonardo George de Magalhães - Chief Financial Officer and IR Officer Conference Call Participants Andre Sampaio - Santander Operator [Abrupt Start] companyÂ's IR website, where the presentation will also be available. Note that if you need simultaneous translation this tool is available with the g ...

Companhia Energética de Minas Gerais (NYSE:CIG) Q2 2022 Earnings Conference Call August 16, 2022 2:00 PM ET Company Participants Carolina Sena – Investor Relations, Superintendent Leonardo George de Magalhães – Chief Financial Officer and Investor Relations Officer Marco Da Camino Ancona Lopez Soligo – Chief Participation Officer Thadeu Carneiro da Silva – Chief Generation and Transmission Officer Dimas Costa – Chief Commercial Officer Conference Call Participants Operator Good afternoon everyone. Welcome t ...

Companhia Energetica de Minas Gerais (NYSE:CIG) Q1 2022 Earnings Conference Call May 16, 2022 9:00 AM ET Company Participants Carolina Senna - Superintendent of Investor Relations Reynaldo Passanezi Filho - CEO Leonardo Magalhaes - CFO Dimas Costa - Commercialization Director Marco da Camino Ancona Soligo - Participations Director Marney Tadeu Antunes - Distribution Director Thadeu Carneiro da Silva - Generation and Transmission Director Conference Call Participants Francisco Navarrete - BBI Andre Sampaio - ...

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, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 or ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of ...

Financial Data and Key Metrics Changes - EBITDA for the first nine months reached R$6.3 billion, up 53% year-over-year, while net profit was R$2.8 billion, a 75% increase compared to the same period in 2020 [2][26] - Adjusted EBITDA growth was over 19%, reaching R$4.441 billion for the last nine months [26] - In Q3, EBITDA was R$1.910 billion, up 29%, while recurring EBITDA was R$1.469 billion, an increase of 6.4% [27] Business Line Data and Key Metrics Changes - CEMIG Distribution saw a 4.3% growth in distributed energy, with transport for clients growing by 7.9% [24][30] - CEMIG GT reported an EBITDA of R$799 million, down 37% when adjusted for the transfer of trading margin to the Holding company [28] - CEMIG Distribution's accounting EBITDA was down 10% to R$722 million, but recurring growth was 24% [32] Market Data and Key Metrics Changes - The volume of energy injected for distributed generation grew by 87% year-over-year, representing 4.2% of the total energy market in the concession area [31] - The collection index reached 98.55%, indicating improved collection efforts [19] Company Strategy and Development Direction - The company is focusing on its core business in Minas Gerais, with an investment plan of R$22.5 billion over the next five years [7][8] - The divestment of stakes in Renova was completed, aligning with the strategic plan to eliminate risks associated with non-core assets [6][8] - The company aims to enhance operational efficiency and maintain regulatory compliance in terms of OpEx and EBITDA [3][35] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about achieving the highest EBITDA in the company's history despite challenges [3] - The company is committed to reducing losses to below regulatory levels and improving operational indicators [21][22] - Future expectations include a stabilization of energy prices and a focus on renewable energy investments [50][52] Other Important Information - The company achieved its best credit ratings in history, with improvements from Fitch and Standard & Poor's [4][16] - The company is actively working on a digital transformation strategy and enhancing customer relationships [44] Q&A Session Summary Question: Can you talk about the potential of tax credit and Renova transaction? - Management indicated that the tax credit from the Renova transaction could be around R$500 million, positively impacting financial statements [48] Question: What is the expectation for GSF for 2022 and impacts on tariffs? - Management expects GSF to be low, around 0.7, with a conservative approach already provisioned in the balance sheet [52][53] Question: Can you comment on the contract signed with developers to improve CEMIG's available energy? - Most projects are expected to start in 2022, with some delays due to logistics issues [56] Question: What are the plans for investments in wind energy? - The company has a pipeline of over two gigawatts for renewable sources, with significant investments planned [63] Question: Can you comment on the divestment plan perspectives? - The divestment plan is ongoing, with opportunities being studied for assets like Santo Antônio and Belo Monte [66]

Indicators (GWh) 2Q21 2Q20 Change, % Electricity sold (excluding CCEE) 13,352 12,809 4.2% Total energy carried 5,539 4,564 21.4% Indicators – R$ million 2Q21 2Q20 Change, % Sales on CCEE 1.0 7.1 -85.9% Net revenue 7,354.0 5,500.1 33.7% Ebitda (IFRS) 2,590.2 1,866.0 38.8% Adjusted Ebitda* 1,320.3 948.4 39.2% Net profit 1,946.6 1,081.7 80.0% Adjusted Ebitda margin 17.95% 17.24% 0,71 p.p. Ebitda of companies (R$ mn) 2Q21 2Q20 Change, % Cemig D Ebitda (IFRS) 590.6 530.7 11.3% Cemig D Adjusted Ebitda 590.6 530.7 ...