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Results Presentation 4Q19 and 2019

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Results Presentation 4Q19 and 2019 ENGIE Brasil Energia S.A. Results Presentation 4Q19 and 2019 February 18, 2020 This publication may include forward-looking statements on events or The information and opinions contained herein should not be results pursuant to Brazilian and international securities’ regulations. These understood as a recommendation to potential investors and no forward-looking statements are based on certain assumptions and analyzes investment decision should be based on the veracity, topicality or made by ENGIE Brasil Energia S.A. (“ENGIE Brasil Energia”, “Company” or completeness of this information or these opinions. None of the “EBE”), - previously denominated Tractebel Energia S.A. -, in accordance advisors to ENGIE Brasil Energia or the parties related thereto or their with its experience and the economic scenario, market conditions and representatives shall accept responsibility for any losses, which may expected events, many of which are outside the control of ENGIE Brasil occur as a result of the use or the content in this presentation. Energia. Important factors which can lead to significant differences between This material includes forward-looking statements as to events effective results and the forward-looking statements with respect to events subject to risks and uncertainties, which based on existing or results, include the business strategy of ENGIE Brasil Energia, economic expectations and forecasts on future events and tendencies, may and international conditions, technology, financial strategy, development of affect the businesses of ENGIE Brasil Energia. These forward-looking the government services industry, hydrological conditions, conditions in the statements include forecasts of economic growth and energy supply financial markets, uncertainty surrounding the results of its future operations, and demand as well as information on competitive position, the plans, objectives, expectations and intentions and other factors. In the light regulatory environment, growth potential opportunities and other of these factors, the effective results of ENGIE Brasil Energia may differ matters. Innumerous factors can affect adversely the estimates and significantly from those indicated or implicit in the forward-looking assumptions on which these statements are based. statements with respect to events or results. 02/18/2020 ENGIE BRASIL ENERGIA S.A. RESULTS PRESENTATION 4Q19 AND 2019 2 01 Highlights 02 Shareholding Structure and Business Segments 03 Energy Market in Brazil 04 Sales and Energy Trading Strategy 05 Expansion 06 Financial Performance 07 Supporting Data 02/18/2020 ENGIE BRASIL ENERGIA S.A. RESULTS PRESENTATION 4Q19 AND 2019 3 HIGHLIGHTS 02/18/2020 ENGIE BRASIL ENERGIA S.A. RESULTS PRESENTATION 4Q19 AND 2019 4 Principais(in R$ million)indicadores financeiros e operacionais:4Q19 4Q18 Chg. 12M19 12M18 Chg. (valoresNet em OperatingR$ milhões) Revenue (NOR) 4T18 4T172,795.1Var. 2,302.3 21.4% 9,804.5 8,794.8 11.5% Results from Operations (EBIT) 1,074.3 903.1 19.0% 4,294.9 3,667.1 17.1% Ebitda (1) 1,317.1 1,083.3 21.6% 5,163.1 4,366.6 18.2% Ebitda / NOR - (%) (1) 47.1 47.1 0.0 p.p. 52.7 49.6 3.1 p.p. Net Income 617.5 761.6 -18.9% 2,311.1 2,315.4 -0.2% Return On Equity (ROE) (2) 33.0 36.6 -3.6 p.p. 33.0 36.6 -3.6 p.p. Return On Invested Capital (ROIC) (3) 21.0 23.1 -2.1 p.p. 20.8 23.0 -2.2 p.p. Net Debt (4) 10,191.8 6,856.3 48.6% 10,191.8 6,856.3 48.6% Power Production (avg. MW) (5) 5,185 5,474 -5.3% 5,030 4,491 12.0% Energy Sold (avg. MW) (6) 4,546 4,266 6.6% 4,329 4,157 4.1% Average Net Sales Price (R$/MWh) (7) 190.53 185.17 2.9% 189.45 181.23 4.5% Number of Employees – Total 1,429 1,370 4.3% 1,429 1,370 4.3% EBE Employees 1,405 1,322 6.3% 1,405 1,322 6.3% Employees on Under Construction Plants 24 48 -50.0% 24 48 -50.0% Notes: 1 Ebitda represents: net income + income tax and social contribution + financial result + depreciation and amortization + impairment. 2 ROE: net income of the past 4 quarters/shareholders’ equity. 3 ROIC: effective tax rate x EBIT / invested capital (invested capital: debt – cash and cash equivalents – deposits earmarked for debt servicing + SE). 4 Adjusted amount, net of gains from hedge operations. 5 Total gross electricity output from the plants operated by ENGIE Brasil Energia. 6 Disregarding sales for quotas regime (Jaguara and Miranda HPPs). 7 Net of taxes and trading operations. 02/18/2020 ENGIE BRASIL ENERGIA S.A. RESULTS PRESENTATION 4Q19 AND 2019 5 The Company announced EBE received R$ 351 million For the 15th consecutive the acquisition of in dividends, substantially year, EBE was included as a Transmissora Novo Estado arising from retained profits component of the Energia, of up to R$ 410 from the jointly held Corporate Sustainability million, which will expand Transportadora Associada Stock Index (ISE). The EBE’s presence in the de Gás (TAG), in 4Q19. Company is one of the transmission segment. seven companies comprising the ISE since the latter’s inception. 02/18/2020 ENGIE BRASIL ENERGIA S.A. RESULTS PRESENTATION 4Q19 AND 2019 6 EBE and Banco Itaú renewed Approved the proposal for their partnership to the benefit of distributing complementary the environment and sustainable dividends of R$ 949.7 million development. The bank is to (R$ 1.1640/share), to be ratified offset 35,354 tons of CO2 related by the Annual General Meeting. to emissions of greenhouse gas With that, total earnings to be emissions reported in 2018, via distributed for fiscal 2019 will the acquisition of carbon credits amount to R$ 2,197.1 million (R$ from the Lages Cogeneration 2.6928/share), equivalent to Unit (UCLA). 100% payout by the fourth consecutive year. 02/18/2020 ENGIE BRASIL ENERGIA S.A. RESULTS PRESENTATION 4Q19 AND 2019 7 SHAREHOLDING STRUCTURE AND BUSINESS SEGMENTS 02/18/2020 ENGIE BRASIL ENERGIA S.A. RESULTS PRESENTATION 4Q19 AND 2019 8 ENGIE S.A. 99.12% Energy International 100.00% Brasil Participações Ltda. 100.00% 40.00% 68.71% 100.00% Geramamoré Energia EGIEY Part. e Comerc. Sustentável do ADR de Energia Brasil Brasil Energia ENGIE Soluções NÍVEL I S.A. 100.00% 48.75% 100.00% 100.00% 100.00% 100.00% 100.00% 99.99% 100.00% 29.25% Companhia Companhia Companhia ITASA Lages Energética Pampa Sul Energética Energética Itá Energética Bioenergética Brasil Energia Geração Solar Estreito S.A. Jaguara Brasil Energias Miranda Complementares Comercializadora Distribuída 40.07% 100.00% 100.00% 95.00% 100.00% 100.00% 100.00% 100.00% 100.00% 99.90% 100.00% CESTE Gralha Azul Ibitiúva Energias Energias Consórcio Tupan Hidropower Assú V Transmissão Umburanas Bioenergética Eólicas do Ferrari Eólicas do Campo Largo Estreito Energia Nordeste Ceará de Energia S.A. Note: 1 Simplified chart for illustrative purpose only. 02/18/2020 ENGIE BRASIL ENERGIA S.A. RESULTS PRESENTATION 4Q19 AND 2019 9 IN A DIVERSIFIED PORTFOLIO OF ASSETS Key Hydro Thermal Complementary Expansion Transmission TAG 60 power plants operated with own installed capacity of 8,710.5 MW (as from 12/31/2019) 1 DISTRIBUTED SOLAR ~2,800 Km of GENERATION transmission lines Total of 2,413 installed systems, with under implementation 35,935 kWp of capacity 60 plants (as from 12/31/2019) 73% NATURAL GAS Hydro (TAG) 14% 4,500 Km of pipelines TRADING Thermal in the Southeast, Northeast Start of Note: operations in 2018 1 The transfer of the 40% stake of and North regions 13% ENGIE Brasil Part. in Jirau HPP • EBE’s stake of 29.25% Complementary to EBE should be examined timely. 02/18/2020 ENGIE BRASIL ENERGIA S.A. RESULTS PRESENTATION 4Q19 AND 2019 10 RELEVANCE AMONG POWER PRODUCERS EBE is part of the largest independent power producer group in the country and is positioned to capture business opportunities. Energy Generation | Proprietary Operating Installed Capacity (MW) Brazil – Existing Installed Capacity2,3 8,711 CPFL AES ENEL Copel 2.5% 2.0% 1.5% 8,005 3.3% 7,678 Cemig 7,044 6,908 6,909 6,965 7,027 7,010 3.4% 6,431 6,472 CTG 6,094 6,188 5,890 5,918 3.6% 5,036 Petrobras 4,846 4.1% Other Itaipu 3,719 3,719 42.1% 4.3% 2,0% ENGIE4 1,5% 1998 1999 2000 2001 2002 2003- 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 6.3% 2006 Private Sector – Own Installed Capacity1 (GW) Eletrobras 10.6 Current installed capacity 26.9% 1.9 Installed capacity under expansion5 5.9 Source: Aneel, Companies’ websites and in-house studies. 0.1 4.9 Notes: 4.1 3.3 4.4 1 Apparent sum-related errors are a result from rounding of addends. 8.7 1.1 2 0.1 2.7 1.9 Amount corresponding to National Interlinked System (SIN), considering the 5.8 1.9 1.8 Operation Monthly Program (PMO) as of January 2020. 4.1 3.8 3 3.2 2.7 2.5 1.9 Includes only the Brazilian part of Itaipu. 1.8 4 Considering the consolidated installed capacity of the group in Brazil, ENGIE CTG CPFL Neoenergia AES EDP Enel Eneva SPIC including HPP Jirau. 5 Based on information from Aneel, ONS and internal study. 02/18/2020 ENGIE BRASIL ENERGIA S.A. RESULTS PRESENTATION 4Q19 AND 2019 11 TRANSPORTADORA ASSOCIADA DE GÁS (TAG) RR AP Solimões AM Entry into the natural gas segment materializing the strategy of becoming a key player Basin PA MA CE RN in the Brazilian infrastructure energy sector.
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