Companhia Energetica De Minas Gerais Sa · BMFBOVESPA:CMIG3
Companhia Energetica De Minas Gerais Sa — Q1 2026 Earnings Presentation
20 slides from Companhia Energetica De Minas Gerais Sa's earnings presentation, May 8, 2026
Slide 1: 1Q 2026 Earnings
1Q 2026 Earnings
Slide 2: Disclaimer
Disclaimer 1Q26 Disclaimer 2 Certain statements and estimates contained in this material may The information and opinions contained herein should not be constitute forward-looking statements regarding future events or construed as a recommendation to potential investors, and no results, which are su
Slide 3: Highlights
Highlights 1Q26 Highlights 3 Operational Performance Growth Strategy Shareholder Remuneration R$ 1.79 bn R$ 1.48 bn R$ 658 mn RECURRING EBITDA CAPEX Interest on Capital Underscores the Company’s Focus on the customer experience Equivalent to R$ 0.23 per share operational strength Strategic Capital A
Slide 4: Execution of the Investment Program
Execution of the Investment Program 1Q26 Execution of the Investment Program 4 Investments totaled R$ 1.48 billion in 1Q26, up 22.1% YoY More Energy • 6 new substations delivered DISTRIBUTION • +765 km of low- and medium-voltage networks +107.5 MVA in transformer capacity 7 substations delivered 1,2
Slide 5: Consolidated
Consolidated 1Q26 Consolidated 5 (R$ million) Recurring EBITDA Recurring Net Income -0.6% • Average impact of the 7.78% tariff -4.1% adjustment, effective May 28, 2025 1,799 1,788 • 22% increase in the average energy purchase prices (Generation and Wholesale) 1,021 979 • GSF of 1.08 in 1Q25 vs. 0.92
Slide 6: GSF and PLD Exposure
GSF and PLD Exposure GSF and PLD Exposure 6 1Q26 Lower GSFs and higher PLDs in 1Q25/1Q26 GSF in 1Q 2025 vs. 2026 SE/CO PLD in 1Q 2025 vs. 2026 382.41 1.13 1.11 327.32 0.99 247.36 1.00 0.95 301.85 0.81 93.76 59.21 Jan Feb Mar Jan Feb Mar GSF 2025 GSF 2026 (R$/MWh) PLD 2025 PLD 2026 ▪ Energy costs pre
Slide 7: Consolidated manageable costs and expenses
Consolidated manageable costs and expenses 1Q26 Consolidated manageable costs and expenses 7 (R$ million) +10.5% Costs and expenses including 1,145 post-employment obligations 81 13 1,036 21 6 +2.5% 1,166 1,195 1Q25 Personnel + Materials Outsourced Other 1Q26 1Q25 1Q26 Profit Sharing services expens
Slide 8: Debt Profile
Debt Profile Debt Profile 8 1Q26 Financial discipline remains a core pillar of our strategy Maturity Schedule Payments Leverage extending through 2040 2.30 2.45 Average maturity: 6.6 years Net Debt 76% of debt maturing after the tariff review (2028) Recurring EBITDA 11,399 16.8 17.8 Net Debt 1,793 3
Slide 9: Cash Flow for the Period
Cash Flow for the Period Cash Flow for the Period 9 1Q26 (R$ million) 1,789 118 1,671 415 264 1,585 108 Cash Availability 375 65 1,626 -524 -27.5% 1,902 1,378 1Q25 1Q26 -524 EBITDA Income Tax/Social Contribution Interest/Leases Dividends Received Cash for the period Non-cash* WK and Other Investment
Slide 10: Cemig D
Cemig D Cemig D 10 1Q26 (R$ million) Recurring EBITDA Recurring Net Income +26.6% +34.0% 1,010 798 398 • Average impact of the 297 7.78% tariff adjustment, effective May 28, 2025 • 2.6% increase in the 1Q25 1Q26 1Q25 1Q26 residential market EBITDA NET INCOME R$ million 1Q25 1Q26 1Q25 1Q26 IFRS 819 1
Slide 11: Cemig D - Energy Market
Cemig D - Energy Market 1Q26 Cemig D - Energy Market 11 Billed Market + Transport (GWh) Offset Energy - DG +22.4% -3.2% 72 71 -1.4% 1,845 11,995 11,608 809 782 Distributors 1,507 555 520 281 1,604 1,544 Other -3.3% 150 6,448 -2.5% 6,284 Rural -6.3% 5,634 5,282 1,357 1,564 Commercial -3.7% Industrial
Slide 12: Cemig D - Operational Efficiency
Cemig D - Operational Efficiency 12 (R$ million) Efficient management keeps OPEX below the regulatory benchmark. OPEX -5.3% 1,222 307 81 1,157 62 69 29 1 Regulatory PMSO Post Voluntary Fees Provisions Default OPEX Opex Employment Dismissal offsetting provision Realized Program Opex: R$65 million bel
Slide 13: Cemig D - Operational Efficiency
Cemig D - Operational Efficiency 1Q26 Cemig D - Operational Efficiency 13 Commitment to operational efficiency is a core pillar of Cemig’s strategy The 1Q26 PCE figure Total Losses¹ - TWh 6.92 6.87 Expected Credit +43.1% represents 1.3% of revenue from energy Losses –ECL² 7 11.9 11.9 supply 83 6.8 1
Slide 14: Cemig GT
Cemig GT 1Q26 Cemig GT 14 (R$ million) Recurring EBITDA Recurring Net Income -22.6% -26.8% 743 537 575 393 R$49 million decrease in EBITDA (from hydrological risk management and higher PLDs) 1Q25 1Q26 1Q25 1Q26 EBITDA NET INCOME R$ million 1Q25 1Q26 1Q25 1Q26 IFRS 749 575 541 393 Remeasurement of po
Slide 15: Generation and Transmission
Generation and Transmission 1Q26 Generation and Transmission 15 (R$ million) Generation Transmission Recurring EBITDA Recurring Net Income Recurring EBITDA Recurring Net Income -4.7% -13.1% -14.2% +1.0% 558 532 206 392 396 179 162 139 1T25 1T26 1Q25 1Q26 1Q25 1Q26 1Q25 1Q26 1Q25 1Q26 ▪ Generation: L
Slide 16: Trading
Trading* 1Q26 Trading* 16 (R$ million) Recurring EBITDA Recurring Net Income 36 64 -161 -125 1Q25 1Q26 1Q25 1Q26 ▪ Increase in energy purchase prices to settle positions * Includes trading by Cemig GTand H Transf rming lives with our energy
Slide 17: Cemig SIM
Cemig SIM Cemig SIM 17 1Q26 (R$ million) Recurring EBITDA Recurring Net Income Installed capacity (MWp) +107.4% +105.9% Solar PVs 156 Owned 19.5 283 10.5 Leased 9.4 5.1 1Q25 1Q26 1Q25 1Q26 132 MWp* expansion reinforces the consistent execution of the growth strategy * Total installed capacity from o
Slide 18: Gasmig
Gasmig 1Q26 Gasmig 18 (R$ million) Recurring EBITDA Recurring Net Income -9.4% -11.4% 213 193 114 101 1Q25 1Q26 1Q25 1Q26 Mix shift towards free market, with lower regulatory margins, impacts EBITDA and net income Industrial client: ▪ Captive market: down 56.6% ▪ Free market (contracted capacity): u
Slide 19: Cemig’s GOLD Team
Cemig’s GOLD Team Cemig’s GOLD Team 19 Cemig Wins Title at International Electrician Rodeo in Costa Rica Rodeo Champion Team Transf rming lives with our energy
Slide 20: Q&A
1Q26 Q&A +55 31 3506 5024 ri@cemig.com.br www.ri.cemig.com.br ISE B3 ISE B3 ICO2 B3 IBRX100 B3 Transf rming lives with our energy
Companhia Energética de Minas Gerais — Q1 2026 Earnings Presentation on 6ix