Eletropaulo Investment Rationale

Eletropaulo at a glance. Eletropaulo Capex by clients. Eletropaulo n. of employees Eletropaulo SAIDI (hours per year) 13.2 6,152 23.8 7,280 7,165 15.9 enel 7,355 11.7 2014 2015 2016 2017 Capex/Client (US$) 39.8 24.0 24.5 31.4 Eletropaulo Capex/Client (US$) 37.7 53.0 50.3 75.2 Avg. Enel Dx Brazil (1) Recent increase in headcount with investment level staying low 1. Enel Dx Rio and Enel Dx Ceará. Excluding Enel Dx Goiás Original values in BRL translated into USD using an Exchange rate of 3.60 BRL/USD. Source: Eletropaulo public information. 4

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