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Apresentação Do Powerpoint INSTITUTIONAL PRESENTATION 3Q19 | RESULTS ISA CTEEP ISA CTEEP in the Transmission Sector Sustainable Value Financial Highlights WHY INVEST IN ISA CTEEP? Strong Cash Growth Generation Opportunities in retrofitting, No demand greenfield projects risk and low and M&A default risk Profitability Dividends Sustainable value creation Minimum payout of 75% (regulatory net income) Investment Grade Benchmark Fitch: AAA(bra) Reference Company in quality and O&M Valuation Attractive valuation ISA CTEEP IE Garanhuns 51% Revenue² : BRL 2,579 million Revenue² : BRL 46 million IE Pinheiros 100% IENNE 100% Largest publicly traded pure transmission Revenue² : BRL 57 million utility in Brazil Revenue² : BRL 46 million IE Serra do Japi 100% ▪ Transmission of ~25% of Brazil’s power Revenue² : BRL 58 million generation IE Madeira 51% IEMG 100% Revenue²: BRL 260 million Revenue²: BRL 19 million IE Itapura Bauru 100% Transmission of ~100% of the power ▪ Revenue² : BRL 12 million generated in the State of São Paulo ▪ Benchmark player in costs and quality 18.6 thousand km of transmission lines 126 substations Evrecy 100% 65.9 thousand MVA of transformation Revenue² : BRL 10 million capacity ▪ RAP ISA CTEEP2019/2020 cycle: BRL 3.1 billion¹ IE Sul 100% Revenue² : BRL 18 million Notes: ¹ Operational assetsL ² 2019/2020 Revenue Cycle proportional to ISA CTEEP’s participation IE Itaquerê 100% IE Paraguaçu 50% Revenue²: BRL 51 million Revenue²: BRL 59 million IE Itapura Lorena 100% Revenue²: BRL 11 million Largest publicly traded pure transmission utility in Brazil IE Ivaí 50% IE Aguapeí 100% Revenue²: BRL 147 million Revenue²: BRL 59 million ▪ Sustainable growth IE Tibagi 100% Organic growth: CapEx of around BRL 180 million/year Revenue²: BRL 20 million Greenfield Projects¹: Revenue (RAP) cycle 2019/2020: BRL 479 million/year IE Aimorés 50% Revenue² : BRL 40 million IE Itaúnas 100% Revenue²: BRL 52 million IE Biguaçú 100% Revenue²: BRL 40 million Notes: ¹ ISA CTEEP’s investments in 10 projects acquired in 2016, 2017 and 2018 auctions. CAPEX and 2019/2020 Revenue adjusted to ISA CTEEP’s participation ² Considers 2019/2020 Revenue Cycle adjusted to ISA CTEEP’s participation A successful story of growth, resilience and performance Winner bid for 5 lots in April auction ISA acquires CTEEP and Extension of Main becomes the Concession CESP spin off creates controlling Contract (059/2001) Winner bid for Transmissão Paulista shareholder 2 lots in June for 30 years auction Transmissão Set up of RBSE Paulista merger compensation with EPTE Expansion to 17 (Ordinance 120 Brazilian states through Ministry of Mining greenfield projects and and Energy) IE Itapura acquisitions (Bauru) startup Winner bid for 3 lots in October auction 1999 2001 2006 2007 2012 2013 2016 2017 2018 2019² ‘000 km¹ of 18.6 18.6 transmission lines 11.5 12.3 15.4 17.7 18.6 Consolidated regulatory EBITDA 2.2 ICVM 527 in 1.6 2.5 BRL billion 0.1 0.7 1.1 1.6 0.2 0.7 Note: ¹ Information considers 100% of the projects ² Last 12 months ending on 09/30/2019 Shareholder Structure on 09/30/2019 ▪ Tickers: TRPL3¹ and TRPL4² ▪ Corporate Governance: Level 1 at B3 Common shares: 257,937,732 Preferred shares: 400,945,572 Total: 658,883,304 ▪ Average daily volume in 9M19: BRL 33 million 35.8% 64.2% ▪ Market cap³: BRL 17 billion ISA Free Float ISA CTEEP ▪ Distribution of capital: CONTROLLED BY ISA Common shares: 89.5% Common shares: 10.5% 53% of foreign investors Preferred shares: 1.3% Preferred shares: 98.7% 47% of Brazilian investors FREE FLOAT OF 64% ▪ ADRs: “CTPTY” and “CTPZY” ▪ Coverage of 12 institutions: 67% Hold 35.4% 28.8% 33% Sell Eletrobras Others Common shares: 9.8% Common shares: 0.7% Preferred shares: 51.9% Preferred shares: 46.8% Notes: ¹ Common share l ² Preferred share l ³On 09/30/2019 INTERCONEXIÓN ELÉCTRICA, A multilatina company focused in transmission with growth ▪ Largest high-tension electric ISA S.A.E.S.P. opportunities in Brazil transmission network in Latin America Operational: ▪ 46,280 km of transmission lines Central Colombia ▪ 91,880 MVA in power capacity America 70% of participation in the Transmission market in 2018 Under construction: ▪ 5,869 km of transmission lines ▪ 13,232 MVA in power capacity Peru ▪ Businesses in: 70% of participation in the Transmission market ▪ Energy transmission in 2018 ▪ Highway concessions Brazil ▪ Information Technology/Telecom 20% of participation in the Transmission market in 2018 ▪ Controlled by the Colombian Chile government (51% of shares) 5% of participation in the Transmission market in 2018 ▪ Market cap: USD 5 billion¹ Bolivia Argentina Solid Presence in Latin America: 7 countries, 3 sectors, Notes: ¹ On 09/30/2019 43 companies CORPORATE ISA CTEEP and its subsidiaries Assured STRUCTURE Annual Revenue (RAP) 2019/2020 Cycle of BRL 4.1 billion RAP Cycle RAP ISA CTEEP Location 2019/2020¹ Cycle 2019/2020 Profit Regime² Share (%) Consolidation (BRL million) (BRL million) ISA CTEEP Operational São Paulo 2,579 2,579 Real Profit ISA CTEEP 100% Fully consolidated IE Madeira Operational Rondônia / SP 511 260 Real Profit ISA CTEEP 51% / Furnas 24,5% / Chesf 24,5% Equity method IE Ivaí Under construction Paraná 294 147 Real Profit ISA CTEEP 50% / TAESA 50% Equity method IE Paraguaçu Under construction Bahia / MG 118 59 Real Profit ISA CTEEP 50% / TAESA 50% Equity method IE Garanhuns Operational Pernambuco 91 46 Real Profit ISA CTEEP 51% / Chesf 49% Equity method IE Aimorés Under construction Minas Gerais 79 40 Real Profit ISA CTEEP 50% / TAESA 50% Equity method IE Pinheiros Operational São Paulo 57 57 Presumed Profit ISA CTEEP 100% Fully consolidated IE Serra do Japi Operational São Paulo 58 58 Presumed Profit ISA CTEEP 100% Fully consolidated IE Aguapeí Under construction São Paulo 59 59 Presumed Profit ISA CTEEP 100% Fully consolidated IE Itaúnas Under construction Espírito Santo 52 52 Presumed Profit ISA CTEEP 100% Fully consolidated IE Itaquerê Under construction São Paulo 51 51 Presumed Profit ISA CTEEP 100% Fully consolidated IENNE Operational Tocantins 46 46 Presumed Profit ISA CTEEP 100% Fully consolidated IE Biguaçu Under construction Santa Catarina 40 40 Presumed Profit ISA CTEEP 100% Fully consolidated IE Tibagi Under construction SP / Paraná 20 20 Presumed Profit ISA CTEEP 100% Fully consolidated IE Sul Operational Rio Grande do Sul 18 18 Real Profit ISA CTEEP 100% Fully consolidated IEMG Operational Minas Gerais 19 19 Presumed Profit ISA CTEEP 100% Fully consolidated Evrecy Operational Espírito Santo 10 10 Presumed Profit ISA CTEEP 100% Fully consolidated IE Itapura - Bauru Operational São Paulo 12 12 Presumed Profit ISA CTEEP 100% Fully consolidated IE Itapura - Lorena Under construction São Paulo 11 11 Presumed Profit ISA CTEEP 100% Fully consolidated Total 4,127 3,587 ¹ 2019/2020 cycle RAP with PA, net of PIS and COFINS ² Presumed profit: a presumed profit of 8% of operational revenue is calculated, with a retainment of 25% of income tax rate on the presumed amount. For the Social Contribution of Net Profit (CSLL), 12% of operational revenue is calculated, with a retainment of 9% of CSLL on presumed profit. Real Profit: 34% of income tax + CSLL on real taxable profit Corporate Governance Structure Shareholders Ethics and Transparency recognized at ISA Board of Directors Board of Auditors and at ISA CTEEP 8 effective members, of 5 effective members which 2 are independent and 5 substitute levels and one is elected by the members employees Experienced Human Resources Audit Committee Committee Management team focused on value CEO creation César Ramirez 2019 Transparency Institutional Relations CFO and IRO Project Director COO Trophy from Department ANEFAC Alessandro Gregori Filho Weberson Abreu Rafael Noda Carlos Ribeiro CONNECTIONS THAT CREATE VALUE THROUGH ACTIONS JAGUAR CONNECTION: ▪ Forest projects that reduce the impact of greenhouse gases ▪ Climate change mitigation ▪ Conservation of biodiversity in jaguar’s habitat SOCIAL RESPONSIBILITY: Sponsorship with tax benefit ▪ ~BRL 15 million in investments in 2018 ▪ Projects related to Youth Leadership, Local Development, and the Environment ▪ Educational Focus CONEXIONS THAT INSPIRE CONNECTIONS TO GENERATE SUSTAINABLE VALUE Digitalization Energy Storage Ancillary Services Real Estate Opportunities Operational safety optimization with cost reduction through substation teleassistance and retrofitting EFFICIENCY NEW BUSINESSES ISA CTEEP ISA CTEEP in the Transmission Sector Sustainable Value Financial Highlights IS THE PURE TRANSMISSION COMPANY IN THE SECTOR IN BRAZIL 2018 Market Share Transmission Revenues ¹ ( t h o u s a n d km of lines) ( 2019/2020 cycle) Eletrobras 65 Total: BRL 37 billion 34% ISA CTEEP 19 36% TAESA 13 Alupar 7 4% 9% 10% 7% State Grid 6 Eletrobras ISA CTEEP TAESA State Grid Alupar Others Source: ANEEL SIN² is composed of 135 The transmission sector is regulated and TransmissionTransmission companies companies are are thousand km of transmission monitored by ANEEL³ and coordinated remuneratedremunerated by by the the availability availability of of its its lines and serves 98% of the and controlled by ONS4 assetsassets. There is no demand risk and market no default risk. Notes: ¹ Considers auctions held until December of 2018 | ² Interconnected National System| ³ National Electric Energy Agency | 4 National Operator of the Electric System THE COMPANY’S MAIN IS IN Concessions prior ▪ Revenue (RAP) annually adjusted by IPCA to 1998 ▪ Contracts renewed in 2013 (Provisional Measure 579/2012) RAP in ▪ Tariff Reset every 5 years (O&M, WACC operation: and RAB¹) 72% Concessions ▪
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