Investor Presentaiton

X Factor methodology X Factor Pd Definition Distribution productivity Objective Capture productivity gains + Q Quality of service + T Operational expenses trajectory Stimulate improvement of service quality Implement operational expenses trajectory Application Defined at Tariff Reset, considers the average productivity of the sector adjusted by market growth and consumption variation Defined at each Tariff Readjustment, considers variation of SAIDI and SAIFI and comparative performance of discos. Includes commercial indexes Defined at Tariff Reset, makes the transitions to operational costs verified in the last 12 months to the one set in the benchmarking models 1. X Factor: index that capture productivity gains AES Eletropaulo 48

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