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 ...

Companhia Energética de Minas Gerais (NYSE:CIG) Q2 2021 Results Conference Call August 18, 2021 2:00 PM ET Company Participants Antônio Carlos Vélez Braga - Investor Relations Superintendent Reynaldo Passanezi Filho - CEO Dimas Cost - Chief Commercial Officer Eduardo Soares - Chief Lead and Regulatory Officer Leonardo George de Magalhães - CFO and IR Officer Marney Tadeu Antunes - Chief Distribution Officer Mauricio Dall'Agnese - Chief CemigPar Participation Strategy, Environment and Innovation Thadeu Carne ...

Financial Data and Key Metrics Changes - The company reported an EBITDA of R$1.8 billion, with an adjusted EBITDA of R$1.6 billion for the quarter, indicating consistent positive results [3][4] - The net profit adjusted for non-recurring events increased by 36.5% year-on-year, from R$589 million to R$804 million [38] - The company achieved a significant EBITDA of R$1.845 billion, which is 22% higher than the previous year [18] Business Line Data and Key Metrics Changes - Cemig Distribution's EBITDA increased by 34.5%, from R$495 million to R$666 million, while net profit rose by 72.6%, from R$197 million to R$340 million [44] - The volume of electricity distributed saw a 3.3% growth, with transported energy for free clients up by 9.7% [41] - The captive market experienced a drop of 1.7%, but the overall performance remained strong due to the growth in distributed generation, which increased by 120% [42] Market Data and Key Metrics Changes - The company maintained a solid cash position of R$6.181 billion at the end of Q1 2021, up from R$5.8 billion at the end of 2020 [51] - The collection rate in the first quarter was 97.37%, higher than in 2019, indicating effective measures taken to manage collections [25] - The company reported a decrease in delinquency rates, with a significant increase in disconnections, but low-income clients were not affected [26] Company Strategy and Development Direction - The company is focusing on core businesses in distribution, generation, and trading within Minas Gerais, with a divestment plan of R$9 billion [2][3] - A bold investment program of R$22.5 billion is planned up to 2025, emphasizing efficiency and customer service improvements [3][4] - The company is transitioning towards wind and solar projects, moving away from a water matrix, which is a significant strategic shift [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving operational efficiency and reducing non-technical losses, with guidance for EBITDA between R$2.544 billion and R$2.581 billion for the year [58][59] - The company is optimistic about future cash generation from extended concessions, which will enhance liquidity [29] - Management highlighted ongoing negotiations regarding healthcare and pension plans to reduce actuarial risks and expenses [52][53] Other Important Information - The company is implementing a voluntary redundancy program to improve operational efficiency [27] - There is a focus on digitization and customer service improvements through integrated systems and machine learning initiatives [6][7] - The company is managing its debt effectively, with a comfortable leverage ratio of 1.1 times net debt over EBITDA [50] Q&A Session Summary Question: Impact of PIS and Cofins credits reimbursement on EBITDA - Management clarified that the R$178 million reimbursement does not affect EBITDA as it was accounted for in tariff adjustments, maintaining regulatory revenue [56] Question: Future expectations for distribution results - Management provided guidance for continued operational efficiency and a projected EBITDA range for distribution, indicating confidence in meeting expectations [58][59]