September 2007

2

Disclaimer

This presentation may include forward-looking statements of future events or results according to regulations

of the Brazilian and international securities and exchange commissions. These statements are based oncertain assumptions and analysis by the company that reflect its experience, the economic environment and

future market conditions and expected events, many of which are beyond the control of the company.

Important factors that may lead to significant differences between the actual results and the statements ofexpectations about future events or results include the company’s business strategy, Brazilian and

international economic conditions, technology, financial strategy, public service industry developments,

hydrological conditions, financial market conditions, uncertainty of the results of future operations, plans,objectives, expectations and intentions, among others. Considering these factors, the actual results of the

company may be significantly different from those shown or implicit in the statement of expectations about

future events or results.

The information and opinions contained in this presentation should not be understood as a recommendation

to potential investors and no investment decision is to be based on the veracity, current events or

completeness of this information or these opinions. No advisors to the company or parties related to them ortheir representatives shall have any responsibility for whatever losses that may result from the use or contents

of this presentation.

This material includes forward-looking statements subject to risks and uncertainties, which are based oncurrent expectations and projections about future events and trends that may affect the company’s business.

These statements include projections of economic growth and energy demand and supply, as well as

information about the competitive position, the regulatory environment, potential opportunities for growth andother matters. Several factors may adversely affect the estimates and assumptions on which these

statements are based.

3

Geographical Presence

█ In 2006, Energias do Brasil distributed 24 TWh to 3.1 million customers

█ In 1H07, total installed capacity reached 1,043 MW

Generation

Distribution

PANTANAL ENERGÉTICA

COSTA RICA

ENERSUL

•Distrib. energy: 3,126 GWh

•Customers: 695 thousand

•Municipalities: 73

•Concession area: 328,316 Km²

•N. inhabitants: 2.1 million

• Installed capacity: 31.2 MW

• Installed capacity: 16.5 MW

LAJEADO PLANT

• Installed capacity: 250 MW

(adjusted for Energias do

Brasil’s stake)

PEIXE ANGICAL PLANT

• Installed capacity: 452 MW

CESA and ENERGEST

• Installed capacity: 294.1 MW

• To be constructed: 29.0 MW

ESCELSA

•Distrib. energy : 8,060 GWh

•Customers: 1,076 thousand

•Municipalities: 70

•Concession area: 41,241 Km2

•N. inhabitants: 3.2 million

BANDEIRANTE

•Distrib. energy: 12,763 GWh

•Customers: 1,352 thousand

•Municipalities: 28

•Concession area: 9,644 Km2

•N. inhabitants: 4.4 million

4

Generation Commercialization Distribution

Current Organizational Structure

EDP Group Market

Legend

% of the Total Capital

Notes:

1 Voting capital, also represents the percentage of installed capacity allocated to Energias do Brasil. Energias do Brasil holds 23.05% of its total capital

2 Includes Escelsa’s generation assets

3 Includes Enersul’s generation assets

Peixe Angical

Enersul

Escelsa

Enertrade BandeiranteLajeado Energest2

Costa RicaPantanal

Energética3CESA2

62.4% 37.6%

100% 100%

100%

100%100%60%27.65% 1

100%51%100%

5

Chair: Independent

1 Apptd. by Minority1 Apptd. by Controlling

Chair: Chairman of the Board

CEOCFO

Chair: Chairman of the Board

1 Independent1 Apptd. by Controlling

Chair: Independent

1 Apptd. by Minority1 Apptd. by Controlling

Board of Directors

Corporate Governance

Board Committees

5 members appointed by controlling

shareholder, including Chairman of the Board (CEO and CFO are also

members of the Board)

2 members

appointed by minority

shareholders

2 independent

members

Audit Supervisory Compensation

Corporate

Governance and

Sustainability

Composition

Distribution

7

Distribution Assets

8

Operating Performance

Volume of Energy Distributed

(GWh)

Energy Distributed by Customer Class

(% of Total Volume Distributed)

2005 2006 1H06 1H07

12,315 12,763

6,354 6,543

7,6398,060

4,028 4,234

3,1083,126

1,556 1,635

12,41111,938

23,94823,061

Bandeirante EnersulEscelsa

2005 2006 1H06 1H07

69% 62%

62% 62%

30% 36%

36% 37%

1%

2% 1%

12,41111,938

23,94823,061

End Customers OtherEnergy in Transit

1%

+3.8% +3.8%

+4.0% +4.0%

9

Market Profile Volume – 1H07

Bandeirante

(GWh)

Enersul

(GWh)

Escelsa

(GWh)

Energias do Brasil

(GWh)

Residential Industrial Commercial Rural and other Energy in transit

21%

18%

13%12%

36%

18%

12%

12%

16%

42%29%

14%20%

24%

13%20%

22%

12%7%

39%

6,542.6 1,635.0 4,233.7 12,411.3

10

Market Profile Revenues – 1H07

Bandeirante

(R$ MM)

Enersul

(R$ MM)

Escelsa

(R$ MM)

Energias do Brasil*

(R$ MM)

Residential Industrial Commercial Rural and other Energy in transit

35%

26%

18%

8%

13%5%

24%12%

21%38%

16%

33%

16%

16%19%

35%13%

12%

20%

20%

1,224.8 518.3 787.2 2,526.8

Note: Data in R$ refers to Revenue net of ICMS Tax, RTE, Own Consumption and ECE/EAE, but including Low Income. * Only the Distribution Business is considered

11

0.76

0.93 0.780.92

Efficiency Indicators

DEC (hours) FEC (x)

TMA (minutes) Productivity (‘000 clients / employee)

9.2

11.811.0

8.8 8.3

13.6

10.1

8.1

12.0

9.1

13.8

Bandeirante Escelsa Enersul

2005 2006 1H06 1H07

6.6

8.7 9.2

5.56.3

10.4

6.0 6.2

9.9

5.46.2

10.0

Bandeirante Escelsa Enersul

160139

98

172

119 112

187

112 103

155144

120

Bandeirante Escelsa Enersul

1.07

0.89

1.29

1.061.07

0.90

1.24

1.06

Bandeirante Escelsa Enersul

2005 2006 1H06 1H07 2005 2006 1H06 1H07

2005 2006 1H06 1H07 2005 2006 1H06 1H07 2005 2006 1H06 1H07

2005 2006 1H06 1H07 2005 2006 1H06 1H07 2005 2006 1H06 1H07

2005 2006 1H06 1H07 2005 2006 1H06 1H07 2005 2006 1H06 1H07

7.8

12

Project Vanguarda

█ Organizational structure implemented before IPO allowed capture of

synergies among Bandeirante, Escelsa and Enersul

Vanguarda Phase 2

Vanguarda Phase 1

– Establishment of standard policies and procedures among 3 companies

– Reduction in personnel: Voluntary Dismissal Program

• Cost fully booked in june/06: R$ 52 million

• Estimated reduction in personnel after conclusion: 16%

– Development of standard IT platforms

– Redesign of critical processes (Lean methodology)

Capture

of

Synergies

13

Bandeirante Escelsa Enersul

Jun

05

Jun

06

Jun

07

0.951.31

2.52

1.401.13

2.42

1.88

1.211.28

Jun

05

Jun

06

Jun

07

Jun

05

Jun

06

Jun

07

Curbing Losses

█ In 1H07, R$ 38 million were invested in actions aimed at cutting down

commercial losses (R$ 13 million in Opex and R$ 25 million in Capex).

~ 330k inspections in 1H07

~ 148k frauds identified

~ R$ 17 MM in revenues recovered

~ 700k inspections scheduled for 2007

Bandeirante’s delinquency rate in

1H07 affected by R$ 11.7 MM provision

for non-transfer of revenue by

collection agent

Commercial losses (% of energy distributed - last 12 months)

Delinquency (%)

Bandeirante Escelsa Enersul EDB

Jun

05

Jun

06

Jun

07

3.84.24.1

2.3 2.42.2

5.0 5.46.0

6.6

7.8

5.9

Jun

05

Jun

06

Jun

07

Jun

05

Jun

06

Jun

07

Jun

05

Jun

06

Jun

07

14

Grid Expansion

Grid Modernization

Automation, Telecom and IT

Actions to curb losses

TOTAL

Capex

•Excludes Capex for Universalization Program.

Capex Breakdown* (R$ MM)

2007 E

130

58

22

66

466

2005

109

122

92

323

2006

128

116

132

376

2007E

164

153

149

466

Bandeirante EnersulEscelsa

Other114

Vanguarda Project78

15

“Luz Para Todos” Program

█ In 1H07, R$ 26 million were invested in the “Luz Para Todos” Program

10%

40%

10%

10%

15%

35%

15%

65%

55.5

46.3

Escelsa

CDE RGR Own resources State Gov.

Enersul

Investments in the LPT Program – 2007E

(R$ MM)

New connections

(*units until August 17, 2007)

461

2,048

3,852

431

2,684

8,534

11,908

858

4,000

11,000

4,0085,479

9,860

2,3003,399

6,717

2004 2005 2006 2007* 2007E 2008E

Bandeirante EnersulEscelsa

Note: Bandeirante – LPT Program concluded in 1H07. Total investment in 2007 was R$ 3.5 million.

16

Tariff Readjustment Mechanism

Parcel A (non-manageable costs)

Energy Purchases Transmission CostsSectorial

Taxes

x x

Parcel B (manageable costs)

Return on Investment Regulatory Depreciation

Net

Regulatory Asset Base

Rate of

Return

Efficient Operating Costs

Gross

Regulatory Asset Base

Depreciation

Rate

Reference

Company

17

Review 1 Review 2X=0; infl. =0 X>0; infl. =0

Su

pp

ly C

ha

rge

s

Time

Tariff Review Process

T1

T3

T2

EFFICIENCY

GAINS

18

Financial Adjustments

2006 Financial Adjustments to be excluded

Energy Purchase

Sectorial Taxes

Transmission Charges

Return on Investment

Assets Reinstatement

Reference Company

Other Revenues

Escelsa’s Tariff ReviewBreakdown of Tariff Readjustment Index - August 2007

-2.59%

Parcel

Tariff

Realignment Rate

-1.40% A

-0.89%

Average tariff

readjustment

-6.92%

-1.07%

Parcel

-9.62%

-0.74% B

0.08%

Variation in

Accounts of Financial Nature

-0.31%

-2.70%

4.76%

-7.46%

X Factor = 1.45%

19

Bandeirante’s Tariff ReviewPreliminary Figures

Average tariff

readjustment

-11.97%

Gross RAB R$ 2,694 MM

Net RAB R$ 1,287 MM

Model Company R$ 237 MM

Delinquency R$ 12 MM

Regulatory Depreciation 4.62%

Required Revenue* R$ 1,976 MM

X Factor: -1.51%

• Net of Other Revenues

Generation

21

+25MW **

4th Engine

+50MW *

Installed Capacity

* Capacity added in 2006** Startup of operations in 1Q07

Lajeado

Peixe Angical

+452MW *

Suiça

Alegre

Jucu

Fruteiras

Paraíso

Viçosa

Rio Bonito

São João

Mascarenhas

Mimoso

São João I

São João II

Coxim

Costa Rica

Corumbá

Installed capacity and Assured Energy

(MW / Average MW)

2005 2006 2007E

Installed Capacity Assured Energy

1,0431,018

516

334

631 645

22

Volume of Energy Sold

(GWh)

Volume of Energy Produced

(GWh)

Operating Performance

2005 2006 1H06 1H07 2005 2006 1H06 1H07

2,756

2,352

3,929

4,747

1,486

2,0532,409

2,655

+62.1%

+42.6%

+29.3%

+101.8%

23

Contracting Schedule

2008 2012 2013 2014 2015 2016

Energy Available for Sale

(Average MW)

11

2009 2010 2011

11 11 11 11

45

83

130

151

Average Price

R$ 81.4/MWh(2Q07)

24

█ Construction to start upon granting of Installation License: – PCH Santa Fé: +29 MW (startup estimated for 2009)– Estimated capex: R$ 120 MM

█ Power upgrades: + 50 MW– Approved by ANEEL: +25 MW– Under Study: +25 MW

█ Coal-fired thermal plants in partnership with MPX Mineração e Energia: + 525 MW (50% of each of the following projects)– UTE Maranhão: + 350 MW– UTE Pecém: + 700 MW– Estimated capex: 50% of US$ 1.9 bi

█ Small Hydro Plants (PCHs): + 438 MW– Projects expected to be concluded and presented to ANEEL in

1Q08: +212 MW– Projects expected to be concluded and presented to ANEEL in mid

2008: +226 MW– Estimated capex: R$ 100 – 120 MM / plant

█ Feasibility Studies for 7 medium sized hydro power plants: +590 MW

24

Growth Opportunities

Commercialization

26

Short-term Price Outlook

(R$ / MWh)

Energy Prices

History CCEE official

Note: January 2002 price affected by energy rationing

50

100

150

200

250

300

Jan-02 Jul-02 Jan-03 Jul-03 Jan-04 Jul-04 Jan-05 Jul-05 Jan-06 Jul-06 Jan-07 Jul-07

27

Operating Performance

Volume of Energy Commercialized

(GWh)

Number of Large Customers

(Units)

2005 2006 1H06 1H07

3,812

5,509

2,754 3,031

2,567

3,6123,503

6,7026,379

Others ENBR Companies

2005 2006 1H06 1H07

5243

63 64

1,193

581749

+5.1%

+3.1%

+20.9%

+1.6%

Enertrade’s

Market Share as

of Jun 07: 8.24%

1H07: Financial Performance

29

Financial PerformanceDistribution

2005 2006 1H06 1H07

2,0251,695

4,1464,071

Net Revenues

(R$ MM)

Bandeirante EnersulEscelsa

2005 2006 1H06 1H07

454

333

829801

2005 2006 1H06 1H07

174

78

332361

Ebitda

(R$ MM)

Net Income

(R$ MM)

49% 49%

48% 48%

31%

31%31%

21% 20%

21%21%

34%46%

44% 42%

33%

31%34%

35%21%

25%

24%

43%41%

11%

42%

37%

15%

22%

30% 30%

43%

45%

42%44%

14%

+1.8%

+19.5%

+3.5%

+36.3%

-7.9%

+123%

30

Financial PerformanceGeneration

2005 2006 1H06 1H07

268

194

458

173

Net Revenues

(R$ MM)

Energest EDP LajeadoEnerpeixe

2005 2006 1H06 1H07

193

101

273

101

2005 2006 1H06 1H07

85

54

131130

Ebitda

(R$ MM)

Net Income

(R$ MM)

45%28%

31% 31%

51%

44%

52%55%

21%

24%

17%

49%29%

41%26%

46%

25%

56%

51%

25%

33%

17%

40%50%

45%13%

41%

30%

40%

87%

19%

19%

15%

+165%

+38.4%

+170%

+91.5%

+0.8%

+56.6%

31

2005 2006 1H06 1H07

2428

3

54

2005 2006 1H06 1H07

1821

9

48

Financial PerformanceCommercialization

Net Revenues

(R$ MM)

Ebitda

(R$ MM)

Net Income

(R$ MM)

2005 2006 1H06 1H07

298252

495431

+14.9%

+18.2%

-93.7%

-12.6%

-81.0%

-15.2%

32

EBITDA Margin

EBITDA 1H07 x 1H06

Ebitda

(R$ MM)

444

650

2

109

11819

(13)(29)

June/06 Enertrade Generation Distribution Accounting

and other

op.

expenses

Contingencies Bad

debt

June/07

28.6%23.4%

33

Manageable Expenses

R$ million 2007 2006 Chg.

Personnel 155.9 197.4 -41.5 -21.0%

Material 19.7 19.9 -0.3 -1.3%

Third-party services 163.3 136.0 27.3 20.0%

Provisions 78.5 37.0 41.5 112.1%

Other 54.3 40.1 14.3 35.6%

Total 471.7 430.4 41.2 9.6%

Chg.%1

st Half

Expenses

1,621.1

1,149.4

(71%)

471.7

(29%)

Note: Depreciation and amortization were excluded

+ R$ 30.5 MM: allowance for bad debt (including R$

11.7 MM due to the non-transfer of revenues from a collection agent and R$ 6.0 MM in receivables from Ampla)

+ R$ 11.0 MM: civil and labor contingencies

Non-manageable expenses

Manageable expenses

Expenses Breakdown – 1H07

(R$ MM)

Provisions

Breakdown of Manageable Expenses

34

R$ million 1H07 1H06 Chg.%

Financial Revenues 119.3 137.5 -13%

Financial Expenses (189.3) (188.8) 0%

Net FX Result (28.9) (34.5) -16%

Net Result from Swap Operations (77.9) (73.4) 6%

FX gains (loss) 49.1 38.9 26%

TOTAL (98.9) (85.8) 15%

Financial Result

█ The decrease in financial revenues reflects mainly the reduction in the

return on regulatory assets due to the fall in SELIC interest rate

35

Indebtedness

*** Includes Selic, CDI, IGP-M and INPC

* Includes R$ 5.5 million of deposits related to debt with BNDES

** Ratio: Net Debt / EBITDA 12 months

Indebtedness – 1H07

(Net Debt Evolution - R$ MM)

Total Debt Index (Jun/07)

Average Cost of Debt2Q07: 11.3%

1,8891,850

Long

Term

2,286

(425)

(698)

Short Term726

Gross DebtJun/07

(-) Cash and

Marketable Securities *

(-) Regulatory Assets and Liabilities

Net DebtJun/07

Net DebtMar/07

3,012

Net Debt / Ebitda

(Jun/07)

59%34%

5%2%

US$

Fixed rate

Long Term Basic Interest Rate (TJLP)

Floating rates ***

2,345

1,7021,879 1,850

1,889

3.0

1.9 1.81.6 1.5

2004 2005 2006 Mar/07 Jun/07

Net Debt (R$ MM) Net Debt / Ebitda (x) **

36

Debt Maturity ScheduleJun/07 vs Jul/07*

█ Escelsa: Debentures Issuance in Jul/07

– R$250 Million

– Term: 7 years

– Interest and Principal grace period: 5 years

– Rate: 105% of CDI

* Debentures issuance was concluded on July, 2007

After Debentures issuance and Senior Notes repaymentAs of June 30, 2007

Decrease in short-term debt

Extension of average term

Decrease in average cost

Debt Maturity Schedule

(R$ MM)

131124158

179

491512529

698

583

307

Cash

Jun/07

2007 2008 2009 2010 2011 2012 2013 2014 After 2014

131

207241

262

491512529

307

2007 2008 2009 2010 2011 2012 2013 2014 After 2014

220

37

Capex

Capex Breakdown*

(R$ MM)

2006

375

217

592

466

192

658

2007E

173

19

192

1H07

Distribution Generation

* Does not include Universalization Program

38

Stock Performance in 2007

Market Capitalization: R$ 5.7 billion

(ENBR3 x Indexes Performance)*

80

90

100

110

120

130

140

12/28/2006 1/22/2007 2/16/2007 3/13/2007 4/7/2007 5/2/2007 5/27/2007 6/21/2007 7/16/2007

13.813.515.4

7.210.4

8.3

Jan 07 Feb 07 Mar 07 Apr 07 May 07 Jun 07 Jul 07

5.5

Daily Average Volume

(R$ MM)

ENBR3 = 8.5%

IBOV = 21.8%

IEE = 21.9%

IBX = 21.5%

* Updated until July 31, 2007

www.energiasdobrasil.com.br

September 2007