Companhia Energetica De Minas Gerais Sa · BMFBOVESPA:CMIG3
Companhia Energetica De Minas Gerais Sa — Q2 2026 Earnings Presentation
17 slides from Companhia Energetica De Minas Gerais Sa's earnings presentation, Aug 14, 2026
Slide 1: 2Q26 Earnings Presentation
2Q26 ISE B3 IBRX100 B3 ICO2 B3 IEE B3 ISE B3 IBRX100 B3 ICO2 B3 IEE B3
Slide 2: Disclaimer
2Q26 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 subject to kn
Slide 3: 2Q26 Highlights
2Q26 2Q26 Highlights 3 Operating Debt and Liquidity Shareholder Performance Management Remuneration R$ 2.5 bn R$ 4.6 bn R$ 631 mn Recurring EBITDA New debt raising Interest on Capital Underscores the Company’s by Cemig D and Cemig GT Equivalent to R$ 0.22 per share operational strength Growth Strate
Slide 4: Execution of the Investment Program
2Q26 Execution of the Investment Program 4 Investments totaled R$ 3.3 billion in 1H26, corresponding to 49% of the amount planned for FY26 More Energy • 14 substations delivered (new and expanded) DISTRIBUTION • +1,886 km of low- and medium-voltage networks 198.5 MVA Increase in transformer capacity
Slide 5: Consolidated Results
2Q26 Consolidated Results 5 Recurring EBITDA Recurring Net Income Highlights +9.3% -15.6% Tariff Adjustment Cemig D (May 28, 2026) 2262 2472 ✓ 6.5% average impact 1322 ✓ 4.9% correction in Portion B 1116 (manageable costs) ECL* Reversal: R$ 232 mn * ECL – Expected Credit Losses 2Q25 2Q26 2Q25 2Q
Slide 6: Consolidated costs and expenses
2Q26 Consolidated costs and expenses 6 (R$ million) Costs and expenses - PMSO 2Q26/2Q25 Other Costs and Expenses +15.5% 25 1,302 -2.6% 113 1,127 39 -2 1900 1851 2Q25 Personal Material Third-Party Other 2Q26 2Q25 2Q26 + Profit Sharing Services Expenses Third-party services reflect seasonal effects, d
Slide 7: Debt profile
2Q26 Debt profile 7 Strong liquidity supports the continued execution of the investment program Maturity Schedule (R$ Billions) Leverage Net Debt 2.30 2.58 Payments extending Recurring EBITDA Average maturity: 61% through 6.7 years of debt matures 2041 after tariff review Net Debt (2028) 13,545 R$ b
Slide 8: Cash Generation
2Q26 Cash Generation 8 (R$ million) Strong cash generation supporting investments and appropriate shareholder returns Cash Flow – 1H26 3.186 3.150 4.287 378 3.909 675 588 3.967 190 961 145 1.416 Available Cash + Securities 3082 260 2662 2162 1902 WK and Other Dividends Received Cash for the period I
Slide 9: Cemig D - Results
2Q26 Cemig D - Results 9 (R$ million) Recurring EBITDA Recurring Net Income +21.0% Highlights -8.9% 1508 Tariff Adjustment May 28, 2026 1246 ✓ 6.5% average impact 553 504 ✓ 4,9% correction in Portion B (manageable costs) 2.7% increase in residential market 2Q25 2Q26 2Q25 2Q26 ECL* Reversal: R$
Slide 10: Cemig D – Energy Market
2Q26 Cemig D – Energy Market 10 Billed Market + Transport (GWh) Offset Energy – DG (GWh) -1,6% 73 78 +22.8 % 11825 11640 799 789 Discos +6.8% 779 693 1521 1507 Others -1.3% 1848 6283 +0.4% 6311 1505 296 Rural -11.0% 5483 5316 165 Commercial -0.9% 1340 1552 -3.8% Industrial -3.0% 5542 5329 3170 3257
Slide 11: Cemig D – Operational Efficiency
2Q26 Cemig D – Operational Efficiency 11 (R$ million) Sustained efficiency gains keep OPEX 16.8% below the regulatory target -16.8% 2.483 603 113 55 73 2.066 58 33 Regulatory PMSO Post VDP Compensation Provisions ECL Actual OPEX Employment Fines OPEX OPEX: R$ 416 million below the regulatory target
Slide 12: Cemig D – Operational Efficiency
2Q26 Cemig D – Operational Efficiency 12 Commitment to operating efficiency is one of the pillars of Cemig's strategy Perdas Totais¹ - TWh 6.92 6.87 Expected Credit 7 6,8 11,9 11,8 Losses – ECL¹ 3 6,6 11.46 11.48 11,7 Total losses - TWh 6,4 6,2 11.48 11,6 11,5 6 % Actual losses 11,4 5,8 5,6 5,4 11.4
Slide 13: Cemig GT - Results
2Q26 Cemig GT - Results 13 (R$ million) Recurring EBITDA Recurring Net Income Highlights +10.6% -11.4% Increased revenue from sales to 679 end customers: +124 MWavg 614 Inflation adjustment on RBO1 revenue: 472 418 R$29 million (cumulative IPCA inflation of 1.51% in 2Q26 vs. 0.93% in 2Q25) 1) RB
Slide 14: Cemig GT - Results
2Q26 Cemig GT - Results 14 (R$ million) Generation Transmission Recurring EBITDA Recurring Net Income Recurring EBITDA Recurring Net Income +13.3% +3.6% +50.3% 621 254 +48.4% 548 450 466 169 190 128 2Q25 2Q26 2Q25 2Q26 2Q25 2Q26 2Q25 2Q26 Higher revenue from the grant bonus – RBO Added RAP of R$
Slide 15: Cemig Trading - Results
2Q26 Cemig Trading - Results 15 (R$ million) Recurring EBITDA Recurring Net Income 12 6 -165 -180 2Q25 2Q26 2Q25 2Q26 ▪ Recognition of a R$ 191 million provision related to the arbitration proceeding with a free-market customer, with no immediate cash effect ▪ Settlement of positions at higher energ
Slide 16: Gasmig - Results
2Q26 Gasmig - Results 16 (R$ million) Recurring EBITDA Recurring Net Income Volume (MN m³) -9.6% Captive FREE Contracted Volume -22.6% Reduction 228 -17.0% 206 82 51 124 96 143 195 87 2Q25 2Q26 2Q25 2Q26 2Q25 2Q26 • Migration of customers to the free market, with lower margins, weighed on EBITDA and
Slide 17: Q&A
Q&A +55 31 3506 5024 ri@cemig.com.br https://ri.cemig.com.br/ ISE B3 IBRX100 B3 ICO2 B3 IEE B3
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