1

INSTITUTIONAL PRESENTATION

Financial and Operational Results

June 30th, 2013

Disclaimer

The statements contained in this report regarding the outlook on business,

estimations on financial and operational results and growth prospects for COMGÁS

are merely estimations and, as such, are based exclusively on management

expectations regarding future events and tendencies, that affect or may affect the

business. These estimations are subject to many risks and uncertainties and are

made considering the information currently available, and depend, substancially on

market conditions, the Brazilian economys performance, the business sector and

international markets, and are therefore subject to change without pior notice.

Because of these uncertainties, the investor should not make any investment

decisions based on these estimations and declarations on future operations.

Company Overview

4

History The Company’s Course– Over 100 years of history

The British company San Paulo Gas receives authorization to

explore the concession of public services of ilumination in São

Paulo;

Cosan aquires 60.1% of Comgás’

social capital from British Gas (BG)

2012

2011

Comgás reached customer

1,000,000;

1996

The company goes public and is traded on the São Paulo Stock Exchange (Bovespa) beginning in 1997;

1959

The company is nationalized and renamed Companhia Paulista de Serviços de Gás (Comgás);

1872

1912 The Canadian company Light assumes ownership;

1999

Privatization: The consortium formed by British Gas and Shell obtain a controlling stake in Comgás;

Comgás is consolidated as Brazil’s largest natural gas distributor responsible for more than 30% of the sales of natural gas in the country;

2010

Regulada ...

5

Comgás’ Highlights

Diversified client base

Impressive track record: Significant

growth with profibility and sound capital

structure

Solid regulatory framework and

transparent concession scheme

Favorable prospects for natural gas in

Brazil

Premium asset located in a strategic

concession area

Substantial growth in the residential

segment

314,034

899,789

1999 2012

# Meters

17

71

1999 2012

# Municipalities

2,500

9,308

1999 2012

Network

1.3

5.3

1999 2012

Volume bi m³

341

5,280

1999 2012

Net Revenue R$ mm

6

Growth since Privatization

50

616

1999 2012

CAPEX R$ mm

Comgás: uma combinação de competências e princípios

7

Note: On November 5th, 2012, Cosan concluded the acquisition of a 60,05% of participation in Comgás from the BG Group for the

sum amount of R$ 3.4 billion.

Comgás’ Shareholder Structure Current Shareholder Structure

Listing of Comgás’ shares in the Stock Exchange: As inserted in the Edict of Privatisation and reflected in the Company’s Bylaws, Comgás is a

publicly traded company with its shares negotiated in the Stock Exchange, condition which must be maintained during the entire concession period.

SHELL BRAZIL HOLDING BV

6.34%

INTEGRAL

INVESTMENTS BV

11.86%

SHELL GAS BV

100%

OTHER SHAREHOLDERS

(free float)

21.75% 60.05%

177 Cities

27% of Brazil’s GDP

Área de concessão

Segments (June 2013)

Residential: 1,262 thousand householders

Commercial: 11.8 thousand meters

Industrial: 1,012 meters

Cogeneration : 25 meters

Thermal Generation : 2 plants

NGV: 311 gas stations

Gas Brasiliano

Presidente Presidente Prudente Prudente

Araçatuba Araçatuba

S.J. Rio S.J. Rio Preto Preto

Marília Marília Bauru Bauru

Central Central (Araraquara) (Araraquara)

Ribeirão Ribeirão Preto Preto

Franca Franca Barretos Barretos

Natural Gas SPS

Registro Registro

Sorocaba Sorocaba COMGÁS

8

Concession Area Advantages

Pipeline intersection (GASBOL, GASAN, GASPAL)

Short distance to supply (Santos Basin)

High demographic density

Population 29.6 Mi

Homes 9.2 Mi

Vehicles 10.0 Mi

POTENTIAL (approximate data)

Concession Area

9

Note: With the opening trading, in 2011, the users with consumption over 300,000 m3/month are considered potentially free.

Market Customers Residential and Commercial

(small volumes)

Trading and distribution during the concession period

Other Markets Customers (large volumes)

Trading up to 12 years (starting on contract subscription date)

and distribution for the entire concession period

Production and Transportation:

ANP (Federal Parts)

..................

Distribution:

ARSESP (Government Parts)

www.arsesp.sp.gov.br

As a public service provider, Comgás’ activities

are regulated by ARSESP, a government

institution of São Paulo State, which delegated

to Comgás a 30-year term, starting in May

1999 for public service exploration with a one-

time renewal possibility for 20 more years.

REGULATED PRICES AND TARIFFS RULES

Regulated Framework Comgás is a Regulated Company

The Concession Agreement forcees tariff reviews every 5 years

10

Maximum Margin Review

•Considering the WACC

over the Regulatory Asset

Base + Investments

•Operational Costs

•Depreciation

•Sales Volume

Maximum Pre-defined Tariffs

(discounts may be applied)

•Initial Tariff Structure

includes:

Tariffs Readjustments

•Annual Margin adjustment

by inflation index (IGPM)

excluding the X Factor and

the K Factor:

•Gas Costs pass through

(comoddity & transport)

every May 31st (or

eventually before, as

defined by the regulator).

In Tariff Reviews, The X Factor and The K

Factor are also Defined

• X Factor: Fixed efficiency

factor to be considered in the

PO annual update. In this 3rd

tariff cycle, the X Factor was

set at 0.82% per year.

•K Factor: Adjustment factor

that compensates deviations

from the maximum margin

earned regarding the

maximum margin permitted.

The K Factor was set at

0.009991 R$/m3 in the 4th

year of the 3rd cycle.

P gas + P transport +

Maximum Margin Average (P0)

= Tariff P0 * (IGPM – X Factor) + K Factor

Tariff review for the 3rd Cycle (2009-2014):

P0 established in 0.3052 R$/m3

Commercialization Margin set at 1.9%

= + +

Tariff Settlement Process

Santos Basin Pre-Salt

Current Expansion

Comgás’ Concession Area

Expansion activities simultaneously progressing in the cities inside the concession area

Targets for 2009-2014 period:

5,000km of network to be established

282km of network renewal

500k+ clients to be connected

15 working fronts simultaneously

1,000 direct employees and more than 4,000 indirect working on the expansion

Aims for excellence in operational safety and integrity of the distribution network

Extensive field analysis and selection of the best opportunities considering:

Distance from existing network

Demographic density

Economic profile and propensity for consumption

Perspective of future development

Potential for integration of various market segments

11

Business Plan Geographic Expansion

67%

6%

4%

4%

2%17%

60%

2%

28%

8%

2%

2Q12 2Q13

+6%

12

Volume in million of m3

1,348 1,431

423.6 mi R$

1.4 bi m³

Margin

Volume

72,0%

6,8%

5,2%

3,8%

2,1%

10,0%

Industrial Cogeneration NGV Residential Commercial Thermal Generation

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Industrial Segment: Sector Composition

CAGR (00-12)

10.0%

1,676

2,243

2,952

3,418

3,812

4,342

4,761

5,069

4,261

5,253 5,259

4,835 4,910

+8.8%

13

Volume in million of m3

72,0%

6,8%

5,2%

3,8%

2,1%

10,0%

Industrial Cogeneration NGV Residential Commercial Thermal Generation

22.7%

19.0%

14.4%

12.3%

10.1%

7.6%

6.4%

3.4%

2.2%

1.0%

0.7%

0.2%

CHEMICAL / PETROCHEMICAL

CERAMICS

PAPER AND CELLULOSE

METALS / FOUNDRY AND NON

FERROUS

GLASS / CRYSTALS

DRINKS / FOOD

AUTOMOTIVE / PNEUMATIC

TEXTILE / LAUNDRY / DRY

CLEANING

OTHERS

STEEL SECTOR

PHARMACEUTICAL

ELECTRO / ELECTRONIC

Fornecimento de Gás Natural: CONTRATOS

14

Daily quantity contracted:

approximately 13.3 millions of m³/day, besides auction contracts.

Daily quantity demanded:

approximately 12.9 millions of m³.

Contracts

Natural Gas Supply

Contract TCQ Firm AuctionUTE - Fernando

GasparianCorn GBD (Tambaú)

Model Firm Firme Firme Curto Prazo Back to Back Back to Back Firme

Gas Source Bolivian NationalSurplus of PB's contracts

with other distributors /

thermal power plants

Undetermined Undetermined Undetermined

End of Contract jul/19 dec/13 sep/13 dec/13 mar/23 nov/13

Transportation: anual

readjustment according

to american inflation: CPI

Fixed Charge: anual

readjustment by IGP-M

Commodity: quarterly

correction based on Oil

Basket + Exchange

Rate

Variable Charge:

quarterly correction

based on Oil Basket

Commodity +

Transportation: monthly

correction according to the

American dollar

1.5 MMm³/month

ARSESP OrdinancePrice

Commodity +

Transporte

Fixed Charge + Variable

Charge

According to bid made

by the Auction Winner

PPI + IGPM and

exchange variation

according to the

American dollar

Commodity +

Transportation ( PPI +

exchange variation

according to the American

dollar)

DQC 8.10 MMm³/day 5.22 MMm3/day according to bids 2.76 MMm3/day 0.3 MM m³/day

Key growth strategy for Comgás:

Geographic expansion, capturing the existing potential and connecting around 100.000 clients per year

Increase average unit consumption by optimizing and expanding customer base

High potential market, with growth driven by:

New real estate developments

Gas conversions in built residences

Large customer base with more than 1 million residential clients

Alternative for LPG and electricity

Concession Area Potential(1)

15

+ 47 thousand new buildings (launches/developments) to be captured

Residential Description

Note(1): MM of households

Casas 7.5

Apart. 1.7

31.2%

65.5%

3.3%

87.8%

10.9%

1.3% customers to be captured

market to be studied

already connected to NG

16

Industrial Description

Comgás is present in all of the relevant industries in the concession area;

A diversified customer base with more than 1,000 corporate clients;

A multi-use product: from the production of heat and low-pressure steam to more

complex processes;

Many advantages compared to other fuels:

No storage requirements

Environmental issues

Guarantee of supply

Low operational costs

Growth Strategy:

Maintain a strong consumer base with future growth in line with growth in GDP / industrial

production

Approach small and medium enterprises (SMEs) to anchor expansion projects

Bring new industrial corporate clients into the concession area

Natural gas vehicle (NGV) may be used as fuel for both individual and mass

transportation;

Stands out for savings and environmental benefits:

Currently, it is more cost competitive than gasoline and ethanol

Strong economic benefit for heavy users

Comgás is currently working with the government to implement public policies that

should benefit the sector:

Fiscal incentives (IPVA reduction)

Public transportation policy

Growth Strategy:

Project in development: use of NGV in public transportation and other heavy users

17

Natural Gas Vehicle- NGV Description

Over 11.1 thousand clients;

Focus on medium and large establishments;

Growth platform integrated with the expansion of the residential segment;

New applications have a high development potential:

Emerging market with high consumption potential

Structure dedicated in developing non conventional application development: acclimatization,

commercial cogeneration and generation during peak hours

18

Commercial Description

Cogeneration:

Industrial strategic decision aiming efficiency and energy security in the medium and

long term

Sustainable growth depends on firm gas supply and price visibility vis-a-vis electricity

Market with a high potential development

Thermal Generation:

Demand depends on the level of thermal dispatch (determined by the government)

Back to back gas contracts

19

Cogeneration and Thermal Generation Description

Financial and Operational Highlights

21

Highlights 2Q13

EBITDA of R$ 380mm during 2Q13, 123% above that of 2Q12, with an impact of R$ 65mm due to the sale of Mooca’s former operational site;

R$ 30mm growth in the current account balance, due to the appreciation of the dollar compared to the real;

10% growth of the total number of clients compared to June 2012;

Growth of 50% in investments compared to 2Q12, totaling R$ 220mm during the quarter;

Construction of 380 km of network extension during the quarter, 30% above that of 2Q12.

Meters

22

Total per Segment

*UDA’s (Unidade Domiciliar Autônoma)

916,418 897,974 855,988 2.1% 7.1%

1,261,587 1,229,713 1,147,384 2.6% 10.0%

11,778 11,435 10,855 3.0% 8.5%

1,012 1,011 1,006 0.1% 0.6%

2 2 2 0.0% 0.0%

25 25 23 0.0% 8.7%

311 318 338 -2.2% -8.0%

929,546 910,765 868,212 2.1% 7.1%

1,274,715 1,242,504 1,159,608 2.6% 9.9%

COMMERCIAL

AUTOMOTIVE

TOTAL METERS

TOTAL CUSTOMERS

INDUSTRIAL

THERMAL GENERATION

COGENERATION

jun/13 mar/13 jun/12

RESIDENTIAL

NUMBER OF UDA's*

jun/13 X mar/13 jun/13 X jun/12

23

Volume per Segment in thousands of m3

*Excluding Thermal Generation

58,729 41,815 50,732 40.4% 15.8% 100,544 91,614 9.7%

30,142 25,793 27,899 16.9% 8.0% 55,935 54,095 3.4%

958,996 928,145 946,683 3.3% 1.3% 1,887,141 1,881,221 0.3%

85,401 82,659 89,712 3.3% -4.8% 168,060 175,746 -4.4%

63,135 59,961 70,290 5.3% -10.2% 123,096 137,969 -10.8%

1,196,403 1,138,373 1,185,316 5.1% 0.9% 2,334,776 2,340,645 -0.25%

13.1 12.6 13.0 12.9 12.9

1,431,346 1,367,015 1,347,966 4.7% 6.2% 2,798,361 2,535,513 10.37%

THERMAL GENERATION

TOTAL

AUTOMOTIVE

TOTAL

MMm³/day

2Q12

228,642 162,650

2Q13 1Q13

234,943

2Q13 x 1Q13 2Q13 x 2Q12

2.8% 44.4%

INDUSTRIAL

COGENERATION

RESIDENTIAL

COMMERCIAL

1S13 1S12 1S13 x 1S12

463,585 194,868 137.9%

170

314

380

2Q12 1Q13 2Q13

140

92

188

2Q12 1Q13 2Q13

319

262

396

2Q12 1Q13 2Q13

38

122

168

2Q12 1Q13 2Q13

21%

123% 342%

+24% +34%

24

EBITDA

in million of R$

Normalized IFRS

Net Income

Financial Performance

24

+51% +104%

+38%

25

Financial Performance in thousand of R$

1,605,652 1,447,744 1,278,522 10.9% 25.6% 3,053,396 2,398,878 27.3%

-1,179,424 -1,032,376 -1,007,191 14.2% 17.1% -2,211,800 -1,808,606 22.3%

426,228 415,368 271,331 2.6% 57.1% 841,596 590,272 42.6%

-106,794 -99,656 -99,929 7.2% 6.9% -206,450 -194,178 6.3%

60,167 -1,358 -1,197 -4530.6% -5126.5% 58,809 -5,713 -1129.4%

379,601 314,354 170,205 20.8% 123.0% 693,955 390,381 77.8%

-81,145 -79,702 -72,153 1.8% 12.5% -160,847 -139,277 15.5%

-44,014 -50,023 -47,632 -12.0% -7.6% -94,037 -87,381 7.6%

254,442 184,629 50,420 37.8% 404.6% 439,071 163,723 168.2%

167,850 121,591 37,689 38.0% 345.4% 289,441 112,198 158.0%

Normalized by Current Account (unaudited figures)

29,377 -46,420 155,369 -163.3% -81.1% -17,043 209,285 -108.1%

396,165 262,013 318,874 51.2% 24.2% 658,179 587,609 12.0%

188,178 91,893 140,216 104.8% 34.2% 280,071 250,293 11.9%

CURRENT ACCOUNT

EBITDA

NET INCOME

Cost of Assets and / or Services Rendered

GROSS REVENUE

Expenditures with Sales, General and Adm.

Other Operational Results

EBITDA

Depreciation and Amortization

Financial Results

OPERATIONAL RESULT

NET SALES

1S13 1S12

NET INCOME

1S13 x 1S122Q13 1Q13 2Q12 2Q13 x 2Q122Q13 x 1Q13

26

Financial Indicators Annualized figures

20.55 19.15 11.32 20.55 11.32

2.80 2.03 0.63 4.83 1.87

0.89 0.99 1.53 0.89 1.53

1.44 1.81 3.05 0.79 1.33

0.38 0.40 0.37 0.38 0.37

0.73 0.68 0.56 0.73 0.56

26.5% 28.7% 21.2% 27.6% 24.6%

23.6% 21.7% 13.3% 22.7% 16.3%

10.5% 8.4% 2.9% 9.5% 4.7%

5.1% 3.9% 1.6% 8.8% 4.7%

13.6% 10.6% 5.6% 23.5% 16.5%

Normalized by Current Account (unaudited figures)

30.9% 27.6% 35.9% 29.3% 35.6%0

27.7% 19.9% 27.1% 24.0% 26.5%0

13.1% 7.0% 11.9% 10.2% 11.3%

2Q13

Return on Equity (%)

Gross Revenue (%)

EBITDA Margin (%)

Net Margin (%)

Equity per share ($)

Earnings per share ($)

Net Debt over Equity (x)

Net Debt over EBITDA (x)

Short Term Debt over Total Debt (x)

Current Ratio (x)

1Q13 2Q12 1S13 1S12

Gross Revenue (%)

EBITDA Margin (%)

Net Margin (%)

Return on Assets (%)

-230-198

-128

-5

150

204

360 362 381

334

364

dec.10 mar.11 jun.11 sep.11 dec.11 mar-12 jun.12 sep.12 dec.12 mar.13 jun.13

27

Current Account in million of R$

(2Q12) = +156 (2Q13) = +30

Debt Structure

709

201 197 20491

214

258

73 103 102184

212

2013 2014 2015 2016 2017 2018 forward

Local Currency Foreign Currency

28

Curto Prazo 35% Longo

Prazo 65%

Curto Prazo 22%

Longo Prazo 78%

in thousands of R$

Debt Amortization Schedule (R$ mm) Debt Composition – Jun/13

*EBITDA considering the last 12 months

Short

Term38%Long Term

62%

EIB

22%

BNDES

42%

Others

36%

274 300 306 275

426

967

Debt jun/13 jun/12

Short Term Debt 967,040 803,541

Long Term Debt 1,581,266 1,350,924

Total Debt 2,548,306 2,154,465

(-) Cash 359,285 79,543

(=) Net Debt 2,189,021 2,074,921

EBITDA(*) 1,268,229 693,207

Net Debt/ EBITDA 1.73 2.99

Short Term Debt / Total Debt 0.38 0.37

Investments in million of R$

29

Network Extension (in thousands of km) Projects Network

Taubaté 44 Km

Osasco 2 31 Km

Hortolândia, Monte Mor & Capivari 30 Km

São João da Boa Vista 25 Km

Piracicaba 19 Km

RETAP (Aço) 16 Km

Rio Claro 9 Km 293

380

555

680

jun/12 jun/13

+30%

2Q 2

Q

147

220

268

394

jun/12 jun/13

+50%

2Q 2

Q

2.6 2.93.3 3.6 3.9

4.54.9 5.1

5.76.2

6.9

8.0

9.3

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

100

229200

230

276

474

426397 403 406 405

510

616

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Investimentos

Main Projects: Network Extension (in thousand of km):

Mogi das Cruzes Taubaté Osasco II Guarulhos

São José dos Campos Itaquera

São Bernardo do Campo Rio Claro

Jabaquara II Hortolândia Campinas II Piracicaba

New Projects:

SJBV / Aguaí Taboão da Serra

Santo André Santos Noroeste

30

71 municipalities

connected

Investments in million of R$ +21%

31

PAY OUT Previous Accountability

PAY OUT IFRS

Shareholder Remuneration in million of R$

Nota: Payout calculated based on remuneration deliberated by the Company during the period

11 1627 25

303330 334

275 268

427450

200

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

17% 15%26%

10%

95%77% 75%

53%

73%

105%92%

38%

74%

190%

55%

32

Market Performance (Jan – Jun 2013)

0

50000

100000

150000

200000

250000

0

20

40

60

80

100

120

Volume CGAS5 IBOV

CGAS5Dec 12 = R$ 58.50Jun 13 = R$ 48.47Var = -17.15%

IBOVDec 12 = 60,952Jun 13 = 47,457Var = -22.14%

Base 100Vol CGAS5 (R$ thousand)

INVESTOR RELATIONS

investidores@comgas.com.br

ri.comgas.com.br

ROBERTO LAGE CFO and

IRO

ANDRÉ SALGUEIRO Investor Relations

Rua Olimpíadas, nº 205, 10º floor - Vila Olímpia - CEP 04551-000 / São Paulo - SP - Brazil 33