Investor Presentaiton

Investment Rationale HPP Volta Grande enel Strategic Plan fitting Sound and stable cash generation aligned with the Strategic Plan. Growth in the free market and costumer focus Energy balance Operational synergies Asset status Time to EBITDA Risks ■ V. Grande can mitigate the impact of own energy available as in 2027 expires the concession of C. Dourada) ■ Close to Cachoeira Dourada HPP: high operational & commercial synergies expected Assets are in excellent conditions. No additional CAPEX needed ■Immediate EBITDA: January 2018 ■ Low risk profile: ■ 70% of the revenues is almost zero risk ■ No risk of construction Transaction fits with the growth strategy carried out by the Company 5

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