Companhia Energetica De Minas Gerais Sa · BMFBOVESPA:CMIG3
Companhia Energetica De Minas Gerais Sa — Q2 2025 Earnings Presentation
22 slides from Companhia Energetica De Minas Gerais Sa's earnings presentation, Aug 18, 2025
Slide 1: Results 2Q25
Results 2Q25 Transf rming lives with our energy
Slide 2: Disclaimer
2Q25 Disclaimer Certain statements and estimates in this material may represent The information and opinions herein should not be understood as a expectations about future events or results which are subject to recommendation to potential investors, and no investment decision risks and uncertainties
Slide 3: Strategic Drivers
2Q25 Strategic Drivers Pleasing our To be a reference in customer satisfaction, transforming their experience with Cemig customers Creating value Discipline in capital allocation. Capturing efficiencies in processes through modernization, digitalization, and simplification processes Innovation Reinf
Slide 4: Highlights
Highlights 2Q25 Adjusted EBITDA Solid results, reflecting the resilience of operational performance R$ 2.2 billion RBSE financial Impact on EBITDA of - R$ 199 million¹, resulting from the revision of the RBSE² component compensation calculation methodology 2T25 Price differences between energy subma
Slide 5: Investment program - execution
Investment program - execution 2Q25 Investments increased by 12.6% in 1H25/1H24, reaching a total of R$ 2.8 billion (R$ million) R$ 20 billion +12.6% Investments 1H25 invested from 2,753 + 2.642 km in low- and medium-voltage networks 2018 to 2024 DISTRIBUTION 5,714 2,445 R$ 2,156 million 9 substatio
Slide 6: New substations - Mais Energia (More energy) Program
New substations- Mais Energia (More energy) Program 2Q25 Inauguration of 9 new substations PARACATU 2 MONTE SIÃO 2 JANAÚBA 5 2T25 BONITO DE MINAS LIMA DUARTE 2 JANAÚBA 5 Transf rming lives with our energy 6
Slide 7: Inauguration of the Advogado Eduardo Soares (UFV)
Inauguration of the Advogado Eduardo Soares (UFV) 2Q25 Reinforcing Cemig’s commitment to the energy transition 2T25 • Date: July 4, 2025 • Location: Montes Claros, MG • Installed capacity: 85 MW • Grant Term: 35 years • CAPEX: R$ 464 million • Potential: -132,000 tCO2/year Transf rming lives with ou
Slide 8: Analysis of Results
Analysis of Resuts Transf rming lives with our energy
Slide 9: Cemig Consolidated
Cemig Consolidated 2Q25 (R$ million) Adjusted EBITDA Adjusted Net Profit Main effects in the quarter +15.4% +16.6% ✓ Exposure to price differences between submarkets, with a negative impact on 2,212 1,916 EBITDA of R$ 76 million * 1,134 1,322 ✓ Reimbursement of tariff subsidies amounting to R$ 375 m
Slide 10: Exposure effects between submarkets
Exposure effects between submarkets 2Q25 R$ 4.88 R$ 103.37 R$ 95.49 533 619 480 2T25 Apr-25 May-25 Jun-25 Price difference - R$/MWh Exposure SE+S - NE (MWaverage) Exposure Apr/25 May/25 Jun/25 Total SE+S - NE -32.98 -40.99 -2.17 -76.14* (R$ million) *Gross result (9.25% PIS/Pasep and Cofins) Transf
Slide 11: Consolidated Operational Cost and Expenses
Consolidated Operational Cost and Expenses 2Q25 (R$ million) Higher controllable expenses remained below the inflation rate for the period (5.35%) +2.49% R$ million 2Q24 2Q25 Var % 44 1,236 Personnel + Profit sharing 460 434 -5.7% 1,206 26 19 Material 34 27 -20.6% 7 Outsourced services 508 527 3.7%
Slide 12: Consolidated Debt profile
Consolidated Debt profile 2Q25 Efficient financial management aligned with a balanced capital structure Maturities timetable– R$ million Leverage Average tenure: 6.0 years 90 3 Net debt (Debt – Cash and securities): R$ 12.2 billion 8,599 1.28 1.22 1.30 1.59 2 Net debt 0.96 0.89 70 EBITDA Adjusted 1
Slide 13: Consolidated Cash Flow
Consolidated Cash Flow 2Q25 Debenture issuance increased cash flow and enabled the investment program 2,369 4,965 1,776 2T25 2,712 2,346 3,035 2,391 190 Cash Cash from Loans and Payments Dividends Investment Restricted Cash + + operations debentures On loans and and IOC Activity cash securities Secu
Slide 14: Cemig D
Cemig D 2Q25 (R$ million) Adjusted EBITDA Adjusted Net Profit +39.3% +27.6% Main effects in the quarter 1,215 ✓ Reimbursement of tariff 872 subsidies amounting to R$ 375 434 554 million, through CDE 2T25 2Q24 2Q25 2Q24 2Q25 EBITDA Net Profit R$ million 2Q24 2Q25 2Q24 2Q25 IFRS 1,329 1,210 1,060 551
Slide 15: Energy market – Cemig D
Energy market – Cemig D 2Q25 Cemig D – Billed market + Transported energy for customers (GWh) Distributed Generation market +21.8 % (GWh) -3.3% 1,505 74 73 2 12,225 11,826 Distributors -1.4% 839 799 163 768 779 1,236 1,622 Other -4.8% 1,521 75 6,301 -0.3% 6,283 Rural +1.4% 1,340 2T25 5,771 5,483 1,1
Slide 16: Operational efficiency – Cemig D
Operational efficiency – Cemig D 2Q25 Combating Default OPEX and EBITDA regulatory Collection via payment online (%) OPEX 1H25 R$122 PIX, credit card, Apps, automatic direct debit, terminals, and -5.3% other channels 67.02 67.50 61.35 2,311 56.50 633 2,172 17 2,189 50.28 168 136 44 22 124 34.96 2T25
Slide 17: Regulatory losses - Cemig D
Regulatory losses - Cemig D 2Q25 TOTAL LOSSES 12 months window 6.61 7.01 15 6.55 6.31 6.42 6.14 6.17 6.24 Improvement of the methodology for calculating 14 Non-Technical Loss Coverage. 12.71 12.57 13 11.51 11.43 11.48 12 11.28 11.23 10.84 Starting in 2Q25, ANEEL began incorporating the 11.23 11.11 1
Slide 18: Cemig GT
Cemig GT 2Q25 (R$ million) Adjusted EBITDA Adjusted Net Profit -5.8% 639 +15.4% Main effects in the quarter 602 472 ✓ The lack of foreign exchange 409 exposure in 2Q25 positively 2T25 influenced the net financial result 2Q24 2Q25 2Q24 2Q25 EBITDA Net Profit R$ million 2Q24 2Q25 2Q24 2Q25 IFRS 641 40
Slide 19: Generation Concessions Extensions
Generation Concessions Extensions 2Q25 GSF Credit Auction Extension of Total cash Firm Energy Concession end Premium Capacity (MW) concession in disbursement (MW) date (%) years R$ million Irapé 399 197 09/19/2037 3 20% 102.86 Pai Joaquim 23 13.91 10/15/2034 7 20% 18.77 Queimado (82.5%) 105 64.60 06
Slide 20: Gasmig
Gasmig 2Q25 (R$ million) EBITDA Net Profit +2.5% +9.4% 237 243 138 151 2T25 2Q24 2Q25 2Q24 2Q25 Centro Oeste Project Capex - R$ 800 million R$624 million executed as of June 2025 (78%) Transf rming lives with our energy 20
Slide 21: 30th Investors Day
30th INVESTORS DAY DAY SAVE THE DATE September 10, 2025 DAY 30th Meeting with Investors Transf rming lives with our energy
Slide 22: ri@cemig.com.br www.ri.cemig.com.br
+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 — Q2 2025 Earnings Presentation on 6ix