Conference Call1th Quarter 2014

Highlights Energy consumption increased by 7.8% between 1Q13 and 1Q14 due to higher

temperatures in the quarter; Captive Market growth 6.7% in 1Q14. Non-technical energy losses in the last 12 months came to 42.4% of billed energy in the

low-voltage market, 0.2 p.p. up on the 12 months ended December 2013. In comparison with March 2013, there was a 2.5 p.p. decline;

Collections stood at 94.6% of billed consumption in 1Q14, 6.4 p.p. down on the same quarter last year;

Provisions for past due accounts (PCLD) represented 1.0% of gross billed energy, totaling R$25.3 million, 0.2 p.p. down in 1Q13;

OPERATING

Net revenue, excluding construction revenue, increased by 20.1% over 1Q13, reaching R$2,118.7 million;

Consolidated EBITDA came to R$452.9 million, 27.5% higher than in 1Q13; Net income totaled R$180.5 million in 1Q14, 129.5% up year-on-year; Consolidated net debt closed 1Q14 at R$5,341.8 million, with a net debt/EBITDA ratio of

2.90x;

FINANCIAL

CDE FUNDS

Transfer of CDE funds to the distributors to settle energy purchase commitments with the CCEE;

The company recognized reduction of expenses with parcel A of R$181.2 million, R$556.7 million and R$423.1 million, respectively, for January, February and March, giving R$1,161.0 million for the quarter as a whole.

Energy Consumption Distribution – Quarter

1Note: To preserve comparability in the market approved by Aneel in the tariff adjustment process. the billed energy of the free customer CSN has been considered back.

TOTAL MARKET (GWh) ¹

Industrial captive

4.9%

Free17.1%

Others captives

13.2%

Commercialcaptive27.6%

Residential captive37.3%

+7.8%

6,8416,180

27.0ºC

28.3ºC

1Q12

6,291 7,374

1Q11

26.9ºC27.8º

C

+5.4% a.a.

1Q13 1Q14

Total Market

RESIDENTIAL INDUSTRIALCOMMERCIAL OTHERS TOTAL

1Q13 1Q14

ELECTRICITY CONSUMPTION (GWh) TOTAL MARKET – QUARTER

1Q13 1Q14 1Q13 1Q14 1Q13 1Q14 1Q13 1Q14

FREECAPTIVE

+7.8%

5,572 6,117

6,841

1,2691,257

7,374

+6.1%

913 970

96653 55

1,025

+8.3%

2,093

215233

2,267

359 360

1,359

1,000

970

1,330

+13.6%

2,4232,752

-2.1%

1,877 2,034

CollectionCOLLECTION RATE BY SEGMENT

Quarter

1Q13

1Q14

Total Retail Large Clients

Public Sector

101.0% 94.6%

100.2% 93.2%

104.7% 98.0%

97.2%95.4%

PCLD/Gross Revenue (Billed Sales) - 12 Months

mar/11 mar/1 3

mar/12

3.0% 2.8%

1.8%

-1.0 p.p.

Loss PreventionLOSS (12 MONTHS)

% Non-technical losses/ LV Market

Non-technical losses GWh

Technical losses GWh

% Non-technical losses / LV Market - Regulatory

42.2%

43.7%

32.0%

5,738

2,614

8,552

44.2%

Mar/13 Jun/13

42.4%

6,029

2,618

8,748

Dec/13

5,955

2,793

8,352

Mar/13

44.9%

5,953

2,629

8,647

Sep/13

5,905

2,647

8,582

- 2.5%

INSTALLED METERS (Thousand Units)

Communities

Without Communities

2009 2010 2011 2012 2013

351

2010 2011 20132012

307

79

102

227122

432

197115272

330

Mar-14

109467

358

Losses Combat ActionsAPZ Results

By March. the program coverd 446 thousand customers in 27 APZs. which ones 22 had the results calculated:

-29.5 %

* Reflects the results accumulated until mar/14 since the begining of the implementation of each APZ. Subtitle: N = N / Y = Yes.

Before Current Before Current

Curicica 2010 12.967 38% 10% 95% 97% NRealengo/Batan 2010/2013 18.967 38% 13% 94% 96% N/YCosmos 1 2012 18.395 49% 16% 92% 95% NCosmos 2 2012 19.737 46% 16% 92% 104% NSepetiba 2012 20.650 57% 31% 88% 95% NCaxias 1 e 2 2012 14.186 59% 32% 83% 92% NBelford Roxo 1 e 2 2013 21.559 63% 23% 88% 93% NVigário Geral 2012 17.616 35% 13% 94% 99% NCaxias 3 2013 17.897 43% 18% 96% 93% NNova Iguaçu 1 2013 33.485 49% 28% 90% 96% NNova Iguaçu 2 2013 21.757 46% 22% 88% 96% NNilópolis 2013 10.396 42% 29% 90% 95% NNilópolis Convencional 2010 11.158 38% 12% 94% 96% NRicardo de Albuquerque 2013 25.703 35% 14% 94% 96% NMesquita 2013 9.038 51% 24% 84% 95% NCabritos/Tabajaras/Chapéu Mangueira/Babilônia/Santa Marta

2012 8.125 68% 12% 62% 96% Y

Coelho da Rocha 2013 18.407 41% 11% 92% 96% NCaxias 4 2013 16.971 42% 20% 90% 90% NAlemão 2014 13.519 63% 34% 91% 92% YCidade de Deus 1 2011 6.211 52% 17% 23% 98% YTomazinho 2013 12.712 43% 20% 87% 93% NFormiga/Borel/Macaco/Salgueiro/Andarai 2012 15.454 51% 27% 50% 87% Y

Média 364.910 50% 21% 89% 96%

NeighborhoodImplementation

YearNumber of

clients

Non-Technical Losses / Grid Load*

Collection RateUPP Area

Net Revenue

Industrial (Captive) 5.3%

NET REVENUE (R$MN)Generation

9.4%

Distribution 77.6%**

NET REVENUE BY SEGMENT (1Q14)*

Commercialization 13.1%

* Eliminations not considered** Construction revenue not considered

NET REVENUE FROM DISTRIBUTION (1Q14)

Commercial (Captive)

30.0%Others (Captive) 11.2%

Network Use (TUSD)(Free +

Concessionaires) 6.7%

Residential (Captive)

46.8%

Construction RevenueRevenue w/out construction revenue

1Q141Q13

1,765

1,834

+18.8%

2,119 6,602

1,922 2,282

157 164

CDE Fund

9

Involuntary exposure together with unfavorable hydrological scenario and PLD in the ceiling, put the cash flow under pressure in the short term

Decree8203

(jan/14)

Decree8221

(apr/14)

Quotas Involuntary Exposure

A-1 Auction Involuntary Exposure

Involuntary Exposure – New Energy

Availabilitie Contracts

Hydrological Risk

A-0 Auction Contract NA

(84,6)

(1.245,7)1.161,0

Short-TermEnergy(Spot)

BalanceCDE FundTotal

Aporte CDE -1Q14 (R$ MN)

Operating Costs and Expenses

Manageable (distribution): R$

351(18.5%) Generation and

Commercialization: R$ 315

(16.6%)

Non manageable (distribution**): R$

1,227(64.8%)

* Eliminations not considered** Construction revenue not considered

DISTRIBUTION PMSO COSTS (R$MN)COSTS (R$MN)*1Q14

R$ MN 1Q13 1Q14 Var.

PMSO (184.0) (187.8) 2.1%

Provisions (45.2) (65.3) 44.3%

PCLD (29.0) (25.3) -12.8%

Contingencies (16.2) (40.0) 146.6%

Depreciation (80.6) (85.4) 6.0%Other operational/revenues expenses (7.3) (12.1) 66.3%

Total (317.1) (350.6) 10.6%

184 188

+2.1%

1Q141Q13

EBITDAEBITDA BY SEGMENT (R$ MN)

1Q13 1Q14

453

355

+27.5%

Generation and CommercializationDistribution

44.0%

56.0%

36.2%

63.8%64.9%

Consolidated EBITDA (R$ MN) 1Q14 1Q13 Var.%Distribution 254.8 228.1 11.7%    EBITDA Margin (%) 14.6% 14.3% 0.2 p.p.

Generation 182.8 119.3 53.2%    EBITDA Margin (%) 86.5% 82.1% 4.4 p.p.

Commercialization 17.5 9.9 76.9%    EBITDA Margin (%) 6.0% 6.3%  -0.3 p.p.

Others and eliminations (2.2) (2.2) 0.4%Total 452.9 355.1 27.5%EBITDA Margin (%) 21.4% 20.1%  1.2 p.p 

EBITDA

EBITDA1Q13

EBITDA1Q14

Net Revenu

e

Non-Manageabl

e Costs

Manageable Costs (PMSO)

Provisions

Regulatory Assets and Liabilities

Regulatory Assets and Liabilities

Adjusted EBITDA

1Q13

Adjusted EBITDA

1Q14

Adjusted EBITDA – 1Q13 / 1Q14(R$ MN)

Other operacion

al revenues

Equity Pikup

EBITDA Ajustado -

2T11

Ativos e Passivos

Regulatórios

EBITDA -2T11

Receita Líquida

Custos Não Gerenciáveis

Custos Gerenciáveis

(PMSO)

Provisões EBITDA -2T12

Ativos e Passivos

Regulatórios

EBITDA Ajustado -

2T12

101

456355

354(217)

(8)

(18)

435

- 4.7%

+ 27.5%

453

(13) (4) (20) (2)

EBI TDA Ajustado -

2T11

Ativos e Passivos

Regulatórios

EBI TDA -2T11

Receita Líquida

Custos Não Gerenciáveis

Custos Gerenciáveis

(PMSO)

Provisões EBI TDA -2T12

Ativos e Passivos

Regulatórios

EBI TDA Ajustado -

2T12

Net Income

1Q13 1Q14EBITDA

Financial Result

Taxes Depreciation

ADJUSTED NET INCOME 1Q13 / 1Q14 (R$ MN)

Regulatory Assets and Liabilities

Regulatory Assets and Liabilities

Adjusted Net Income

1Q13

Adjusted Net Income

1Q14

+129.5%

14567

79

60 (51)(5)

181

(12)

168

+15.9%

98

Indebtedness

Average Term: 3.9 years

AMORTIZATION SCHEDULE* (R$ MN)

Nominal Cost Real Cost

NET DEBTWith Pension Fund

*ConsideringHedge* Principal only

COST OF DEBT

20122011 1Q142007 2008 2009 set/10

Custo Real Custo Nominal

2013

Net Debt / EBITDA

2009 2010 2011 2012

Custo Nominal Custo Real

2009 2010 2011 2012

Custo Nominal Custo Real

2009 2010 2011 2012

Custo Nominal Custo Real

Mar/13

2.24%

8.21%

3.63%

10.01%

4.25%

11.03% 9.68%

3.55%

TJLP13.5%

CDI 73.9%

IPCA 10.7%

Others 1.5%

U$/Euro 0.4%

2014 2015

494779

1,017811 899

441 450 450 565

2016 2017 2018 2019 2020 2021 After 2021

20092010

Custo Real

Custo Real

2.84 2.90

Mar/14

Dec/13

5,096.8 5,249.5

5,341.8

2.73

Investments

CAPEX (R$ MN)CAPEX BREAKDOWN

(R$ MN)1Q14

Generation3.5

Administration 3.3 Othe

rs2.8

Develop. of Distribution System

106.6

Losses Combat

48.9

Investments in Electric Assets (Distribution)

Commerc./Energy Eficiency10.5

2010

929

701

2011

2012

797

694

103

519

182

775

154

713

132

845

+7.9%

2013

2014E

163

1Q13

1Q14

36 17

127 158

1,055

176

Dividends

2007 2008 2009 2010 2011 2012 2013

100% 100%

76% 81%

100%86% 85%

50%

Minimal Dividends PolicyPayout

Important Notice

This presentation may include declarations that represent forward-looking statements according to Brazilian regulations and international movable values. These declarations are based on certain assumptions and analyses made by the Company in accordance with its experience. the economic environment. market conditions and future events expected. many of which are out of the Company’s control. Important factors that can lead to significant differences between the real results and the future declarations of expectations on events or business-oriented results include the Company’s strategy. the Brazilian and international economic conditions. technology. financial strategy. developments of the public service industry. hydrological conditions. conditions of the financial market. uncertainty regarding the results of its future operations. plain. goals. expectations and intentions. among others. Because of these factors. the Company’s actual results may significantly differ from those indicated or implicit in the declarations of expectations on events or future results. The information and opinions herein do not have to be understood as recommendation to potential investors. and no investment decision must be based on the veracity. the updated or completeness of this information or opinions. None of the Company’s assessors or parts related to them or its representatives will have any responsibility for any losses that can elapse from the use or the contents of this presentation. This material includes declarations on future events submitted to risks and uncertainties. which are based on current expectations and projections on future events and trends that can affect the Company’s businesses. These declarations include projections of economic growth and demand and supply of energy. in addition to information on competitive position. regulatory environment. potential growth opportunities and other subjects. Various factors can adversely affect the estimates and assumptions on which these declarations are based on.

Contacts

João Batista Zolini CarneiroCFO and IRO

Gustavo WerneckSuperintendent of Finance and Investor Relations

+55 21 2211 2560gustavo.souza@light.com.br

Mariana da Silva RochaIR Manager

+ 55 21 2211 2814mariana.rocha@light.com.br

ri.light.com.br www.facebook.com/lightri twitter.com/LightRI