OPERATING AND

FINANCIAL RESULTS

4Q13

22

Agenda

► Highlights

► Operating Results

► Introduction

► Financial Results

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► Highlights

► Operating Results

► Financial Results

► Introduction

Agenda

4

Introduction

Presentation of Operating and Financial Information

► The financial information contained herein is presented in consolidated figures, pursuant to Brazilian Corporate Law, based on revised financial information. The consolidated financial information represents: i) 100% of CEMAR’s results, excluding 34.89% related to minority interests before Net Income, resulting in participation of 65.11% ii) 100% of CELPA’s results, excluding 3.82% related to minority interests before Net Income, resulting in participation of 96.18%; and iii) 100% ofEquatorial Soluções’ results, which in turn consolidated 100% of Sol Energias’ results, excluding 49% of minority interest before Net Income.

► The operating information presented herein consolidates 100% of CEMAR’s results and 100% of CELPA’s results.

► The following information was not reviewed by the independent auditors: i) non-financial information relating to CEMAR, Light and the PLPT (Programa Luz para Todos - Light for All Program); ii) pro forma information and its comparison with the results presented in the period; and iii) management expectations regarding the future performance of the Companies.

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► Highlights

► Operating Results

► Introduction

► Financial Results

Agenda

6

Operating Highlights

► CEMAR’s total billed energy volume reached 1,440 GWh in 4Q13, 13.8% higher than in 4Q12. Thetotal volume distributed by CELPA (captive and free markets) totaled 1,985 GWh in 4Q13, representinggrowth of 14.6% YoY.

► In CEMAR, energy losses of the last 12 months ending 4Q13 represented 19.2% of the requiredenergy, with a decrease of 1.1 percentage points compared to 20.3% recorded in 3Q13. In CELPA, totallosses ended the year at 35.5% of the required energy.

► In 4Q13, CEMAR’s DEC and FEC indexes (accumulated over the last 12 months) were 18.9 hours, adecrease of 12.8%, and 10.9 times, a decrease of 0.7%, compared to those observed at the end of4Q12. In CELPA, these same indexes closed the quarter with improvements of 27.7% and 25.4%,respectively.

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► Net operating revenues (NOR) in 4Q13 reached R$1,329 million, up 15.8% compared to 4Q12’s NOR,which reflects the beginning of the consolidation of CELPA only as from November 2012.

► In 4Q13, EBITDA totaled R$131 million, a 21.1% decrease compared to the 4Q12 amount, mainly due to therecognition of higher costs of energy purchase.

► The net result of the quarter was a loss of R$62 million, also mainly due to the increased recognition of theenergy purchase costs.

► In 4Q13, Equatorial's consolidated investments totaled R$261 million, 1.1% higher than those made in4Q12.

► Proposed Dividends: R$17.9 million, equivalent to R$ 0.09 per share, or 25% of the Adjusted Net Income.

Financial Highlights

8

► Highlights

► Operating Results

Agenda

► Introduction

► Financial Results

9

► CEMAR: 4Q13 energy sales moved up by 13.8%, reaching 1,440 GWh.

Energy Market - CEMAR

Electricity Consumption per Segment (MWh)

Energy Balance (MWh)

CONSUMPTION SEGMENTS * (MWh) 4Q12 3Q13 4Q13 Chg. 2012 2013 Chg.

Residential 602,968 658,860 690,103 14.5% 2,257,539 2,563,490 13.6%

Industrial 124,489 127,738 142,688 14.6% 479,727 497,447 3.7%

Commercial 253,985 272,786 287,226 13.1% 960,422 1,062,255 10.6%

Others 284,782 302,309 320,317 12.5% 1,098,354 1,164,727 6.0%

TOTAL 1,266,225 1,361,693 1,440,335 13.8% 4,796,041 5,287,920 10.3%

* Does not include sales to CEPISA and own consumption.

ENERGY BALANCE (MWh) 4Q12 3Q13 4Q13 Chg. 2012 2013 Chg.

Required Energy 1,619,756 1,699,003 1,745,389 7.8% 6,059,292 6,552,861 8.1%

Sold Energy (*) 1,268,309 1,363,727 1,442,845 13.8% 4,804,022 5,296,492 10.3%

Losses 351,447 335,276 302,544 -13.9% 1,255,270 1,256,370 0.1%

(*) Considers sale to the segments, own consumption and sales to CEPISA

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Distribution – Energy Losses in CEMAR

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DEC (hours) FEC (times)

Distribution – DEC and FEC - CEMAR

► CEMAR: In 4Q13, the DEC index decreased 12.8% compared to 4Q12 while the FEC index decreased 0.7% compared to the same quarter last year.

18.9

21.7

4Q12 4Q13

-12.8%

10.9

11.0

4Q12 4Q13

-0.7%

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► CELPA: Energy demand growth of 14.6% in energy sales in 4Q13 (Captive Market + Free), reaching 1,985 GWh.

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Energy Market - CELPA

Electricity Consumption per Segment (MWh)

Energy Balance (MWh)

CONSUMPTION SEGMENTS * (MWh) 4Q12 3Q13 4Q13 Chg. 2012 2013 Chg.

Residential 658,352 700,202 758,350 15.2% 2,526,004 2,757,980 9.2%

Industrial 296,871 339,552 364,903 22.9% 1,226,926 1,294,265 5.5%

Commercial 389,469 418,796 445,532 14.4% 1,479,814 1,639,171 10.8%

Others 301,819 310,282 328,569 8.9% 1,150,232 1,216,900 5.8%

TOTAL 1,646,511 1,768,832 1,897,354 15.2% 6,382,977 6,908,316 8.2%

Free Consumers 85,117 87,716 87,476 2.8% 293,119 342,050 16.7%

TOTAL (Captive + Free) 1,731,627 1,856,548 1,984,831 14.6% 6,676,096 7,250,367 8.6%

* Does not include own consumption.

ENERGY BALANCE (MWh) 4Q12 3Q13 4Q13 Chg. 2012 2013 Chg.

Energy Sales (Captive + Own Consumption) 1,653,375 1,775,472 1,910,597 15.6% 6,412,030 6,940,732 8.2%

Free Market 85,117 87,716 87,476 2.8% 293,119 342,050 16.7%

Total Losses 1,021,483 1,053,750 991,983 -2.9% 3,618,950 4,007,915 10.7%

Required Energy 2,759,975 2,916,937 2,990,056 8.3% 10,324,099 11,290,651 9.4%

Own Generation 111,155 115,621 120,510 8.4% 403,750 449,083 11.2%

Energy Purchase (Contracts) 2,648,820 2,801,316 2,869,545 8.3% 9,920,349 10,841,568 9.3%

(*) Includes sales to the segments, own consumption and free market.

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Distribution – Energy Losses in CELPA

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DEC (hours) FEC (times)

Distribution – DEC and FEC

► CELPA: In 4Q13, the DEC index improved 27.7% compared to 4Q12 while the FEC index decreased 25.4% compared to the same quarter last year. Analyzing CELPA’s indices only in the quarter, we can see improvements of 40.6% and 30.8%, respectively.

CELPA – Last 12 months

CELPA – Quarterly

101.6

82.7

4Q12 4Q13

-27.7% 50.9

38.0

4Q12 4Q13

-25.4%

22.9

13.6

4Q12 4Q13

-40.6%

11.8

8.2

4Q12 4Q13

-30.8%

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► Highlights

► Operating Results

Agenda

► Introduction

► Financial Results

16

Quarterly Results

Equatorial’s EBITDA

In 2012, we are consolidating CELPA on a pro forma basis, to maintain comparability between quarters. The same goes for 4Q12.

Consolidated EBITDA (R$ million) 4Q12 3Q13 4Q13 Chg. 2012 2013 Chg.

CEMAR's EBITDA 148 172 113 -23,6% 533 494 -7,3%

CELPA's EBITDA (377) 161 22 N/A (369) 113 N/A

EBITDA (Holding + Others) (13) (2) (4) -69,2% (21) (21) 0,0%

Accounting EBITDA (242) 331 131 N/A 143 586 309,8%

Net Regulatory Assets / Liabilities CEMAR (17) (11) (5) -70,6% (37) 66 N/A

Net Regulatory Assets / Liabilities CELPA 1 (125) 23 N/A 5 1 N/A

Energy Purchase Correction (CEMAR) - - - N/A (2) - N/A

Metering Sales Adjustment (CEMAR) - - 2 N/A - 2 N/A

CELPA's PMSO Adjustment (Restructuring) - 26 5 N/A - 39 N/A

Others (CELPA) - 7 - N/A - - N/A

Adjusted Regulatory EBITDA (258) 228 156 N/A 109 694 536,7%

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Quarterly Results

CELPA’s Net Income

CELPA's Net Income (R$ million) 4Q12 3Q13 4Q13 Chg. 2012 2013 Chg.

Net Societary Loss (262) 100 (111) 57,8% (704) (229) 67,5%

Regulatory Assets / Liabilities 45 (115) 24 -47% 72 31 -57%

Financial Expenses Adjustment - - 13 N/A - 13 N/A

Deferred Taxes Adjustment - - 22 N/A - 22 N/A

SG&A Restructuring Costs - 25 5 N/A - 39 N/A

Depreciation / Amortization - - 8 N/A - 31 N/A

Adjusted Regulatory Net Results (217) 10 (39) 82% (632) (93) 85%

CEMAR’s Net Income

CEMAR's Net Income (R$ million) 4Q12 3Q13 4Q13 Chg. 2012 2013 Chg.

Net Societary Income 150 57 37 -75,3% 385 192 -50,1%

Regulatory Assets / Liabilities (128) 9 6 105% (140) 92 166%

Energy Purchase Adjustment - - - N/A (8) - 100%

Financial Asset Adjustment - 22 9 N/A (69) 20 129%

Adjusted Regulatory Net Results 22 88 52 136% 168 304 81%

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Debt: Schedule of Gross Debt Maturities

Consolidated Gross Debt(100% CEMAR + 100% CELPA)

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100% CEMAR + 100% CELPA

Net Debt - Consolidated

Net Debt (R$MM) and Net Debt/ EBITDA (Last 12 months)

Net Debt Reconciliation (R$MM)

We adjusted Equatorial’s net debt of previous quarters excluding the 25% stake in Geramar due to the change in the accounting consolidation rule.

1,125

1,430

1,0781,001

1,4031.9

1.7

2.3

2.92.0

4Q12 1Q13 2Q13 3Q13 4Q13

3,226

423

1.613

1,189

Gross Debt Net

Regulatory

Assets

Cash Net Debt

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65.11% CEMAR + 96.18% CELPA

Net Debt – Pro-rata

Net Debt (R$MM) and Net Debt/ EBITDA (Last 12 months)

Net Debt Reconciliation (R$MM)

We adjusted Equatorial’s net debt of previous quarters excluding the 25% stake in Geramar due to the change in the accounting consolidation rule.

984

629

738

1,001

849

2.7 2.7

2.4

1.72.1

4Q12 1Q13 2Q13 3Q13 4Q13

2,577

849

1,348

379

Gross Debt Net

Regulatory

Assets

Cash Net Debt

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► CEMAR: In 4Q13, total capex reached R$113 million, of which R$102 million are own capex and R$11 million regarding the Light for All Program (PLPT).

► CELPA: In 4Q13, total capex reached R$148 million, of which R$110 million are own capex and R$38 million regarding the Light for All Program (PLPT).

Capex - Equatorial

INVESTMENTS (R$MM) 4Q12 3Q13 4Q13 Chg. 2012 2013 Chg.

CEMAR

Own (*) 150 62 102 -31.9% 441 296 -32.9%

Light For All Program 45 6 11 -76.5% 177 29 -83.8%

Total 196 68 113 -42.2% 619 325 -47.6%

CELPA

Own (*) 57 78 110 91.3% 433 361 -16.7%

Light For All Program 5 16 38 658.3% 45 61 33.5%

Total 62 94 148 136.7% 478 421 -11.9%

GERAMAR

Generation 0 0 0 45.1% 0 0 -11.0%

TOTAL 258 162 261 1.1% 1,097 746 -32.0%

(*) Including indirect Light For All Program investments

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Eduardo HaiamaCFO and IRO

Thomas NewlandsInvestor Relations

Renato ParentoniInvestor Relations

Telephone 1: +0 55 (21) 3206-6635Telephone 2: +0 55 (21) 3217-6607

Email: ir@equatorialenergia.com.br

Website: http://www.equatorialenergia.com.br/ir

Contacts

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• This presentation may contain forward-looking statements, which are subject to risks and uncertainties, as they were based on theexpectations of Company’s management and on available information. These prospects include statements concerning the Company’scurrent intentions or expectations for our clients; this presentation will also be available at our website www.equatorialenergia.com.br/ir andin the IPE system of the Brazilian Securities and Exchange Commission (CVM).

• Forward-looking statements refer to future events which may or may not occur. Our future financial situation, operating results, market shareand competitive positioning may differ substantially from those expressed or suggested by said forward-looking statements. Many factorsand values that can establish these results are outside Company’s control or expectation. The reader/investor is advised not to completelyrely on the information above.

• The words “believe", “can", “predict", “estimate", “continue", “anticipate", “intend", “forecast" and similar words, are intended to identifyestimates, which refer only to the date on which they were expressed. Hence, the Company has no obligation to update said statements.

• This presentation does not constitute any offering, invitation or request of subscription offer or purchase of any marketable securities. And,this statement or any other information herein, does not constitute the basis for any contract or commitment of any kind.

Disclaimer