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ENGIE Brasil Energia S.A. Results Presentation 2Q20

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ENGIE Brasil Energia S.A. Results Presentation 2Q20 ENGIE Brasil Energia S.A. Results Presentation 2Q20 July 30, 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. 7/30/2020 ENGIE BRASIL ENERGIA S.A. RESULTS PRESENTATION 2Q20 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 7/30/2020 ENGIE BRASIL ENERGIA S.A. RESULTS PRESENTATION 2Q20 3 HIGHLIGHTS 7/30/2020 ENGIE BRASIL ENERGIA S.A. RESULTS PRESENTATION 2Q20 4 Principais(in R$ million)indicadores financeiros e operacionais:2Q20 2Q19 Chg. 6M20 6M19 Chg. (valoresNet em OperatingR$ milhões) Revenue (NOR) 4T18 4T172,686.5 Var. 2,176.5 23.4% 5,281.1 4,515.2 17.0% Results from Operations (EBIT) 1,198.8 848.4 41.3% 2,295.3 1,865.1 23.1% Ebitda (1) 1,431.6 1,052.0 36.1% 2,763.5 2,264.8 22.0% Ebitda / NOR - (%) (1) 53.3 48.3 5.0 p.p. 52.3 50.2 2.1 p.p. Net Income 765.8 385.4 98.7% 1,277.8 950.9 34.4% Return On Equity (ROE) (2) 35.5 30.4 5.1 p.p. 35.5 30.4 5.1 p.p. Return On Invested Capital (ROIC) (3) 19.1 17.5 1.7 p.p. 19.1 17.5 1.7 p.p. Net Debt (4) 10,771.9 11,371.2 -5.3% 10,771.9 11,371.2 -5.3% Power Production (avg. MW) (5) 2,190 4,446 -50.7% 2,901 4,859 -40.3% Energy Sold (avg. MW) (6) 4,073 4,025 1.2% 4,205 4,107 2.4% Average Net Sales Price (R$/MWh) (7) 195.79 189.87 3.1% 193.92 188.96 2.6% Number of Employees – Total 1,645 1,413 16.4% 1,645 1,413 16.4% EBE Employees 1,575 1,386 13.6% 1,575 1,386 13.6% Employees on Under Construction Plants 70 27 159.3% 70 27 159.3% 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. 7/30/2020 ENGIE BRASIL ENERGIA S.A. RESULTS PRESENTATION 2Q20 5 Main effects of the Covid-19 in 2Q20: Actions taken to tackle the Covid-19: • load reduction increasing the Generation Scaling • home office working widely adopted; Factor (GSF); • operational teams working on a shift basis; • average reduction of 7.8% in consumption and 5.5% • use of rapid testing methods; in billed energy of free customers, within the • protocols for sanitation, as well as joint initiatives contractual limits, partially compensated by energy with the community; settlement at CCEE; • renegotiation of payment terms for 273 average MW • reduction of the Price for Settlement of Differences of energy contracted at free market, seeking to (PLD); and temporarily relieve the most affected sectors; and • significant investments in the prevention of Covid-19 • actions to contain defaults, maintaining historical aiming at protecting employees and communities. levels; 7/30/2020 ENGIE BRASIL ENERGIA S.A. RESULTS PRESENTATION 2Q20 6 Announced the acquisition of Consistent sales of energy, Approved the distribution of the additional stake of 3.25% maintaining the level of the interim dividends, in the in TAG, out of the 10% still average net price at amount of R$ 677.7 million (R$ held by Petrobras, for the R$ 190/MWh. 0.8305/share), equivalent to amount of Uncontracted commercial 55% of the distributable net R$ 327 million. capacity decreased around 100 income reported for the first average MW in 2021 and 2022, half of 2020. and above 150 average MW The shares will trade ex- from 2023 to 2025. dividends from August 10, 2020, payout to be made on a date to be decided by the Management Board. 7/30/2020 ENGIE BRASIL ENERGIA S.A. RESULTS PRESENTATION 2Q20 7 New E-conomiza product The Carbon Credits Project of was launched, designed to the Campo Largo Wind help companies Complex – Phase II was migrate to the Free Market registered under the Clean for energy. Development Mechanism (CDM) and will contribute to a reduction of approximately 790 thousand tons of CO2 emissions. 7/30/2020 ENGIE BRASIL ENERGIA S.A. RESULTS PRESENTATION 2Q20 8 SHAREHOLDING STRUCTURE AND BUSINESS SEGMENTS 7/30/2020 ENGIE BRASIL ENERGIA S.A. RESULTS PRESENTATION 2Q20 9 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% 32.50% 99.90% Companhia ITASA Companhia Companhia ENGIE Lages Energética Itá Energética Pampa Sul Energética Energética Transmissão Bioenergética Brasil Energia Geração Solar Estreito S.A. Jaguara Brasil Energias Miranda de Energia 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% 100.00% CESTE Gralha Azul Novo Estado Ibitiúva Energias Energias Consórcio Tupan Hidropower Assú V Transmissão Umburanas Transmissora Bioenergética Eólicas do Ferrari Eólicas do Campo Largo Estreito Energia Nordeste Ceará de Energia S.A. de Energia Note: 1 Simplified chart for illustrative purpose only. 7/30/2020 ENGIE BRASIL ENERGIA S.A. RESULTS PRESENTATION 2Q20 10 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 06/30/2020) 1 DISTRIBUTED SOLAR ~2,800 Km of GENERATION transmission lines Total of 2,526 installed systems, with under implementation 44,497 kWp of capacity 60 plants (as from 06/30/2020) 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 32.5% Complementary to EBE should be examined timely. 7/30/2020 ENGIE BRASIL ENERGIA S.A. RESULTS PRESENTATION 2Q20 11 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 8,711 CPFL AES ENEL Cemig 8,005 2.6% 2.1% 1.6% 7,678 3.4% Copel 6,908 6,909 6,965 7,027 7,044 7,010 3.6% 6,431 6,472 CTG 6,188 5,890 5,918 6,094 3.6% Petrobras 5,036 4,846 4.1% Itaipu Other 3,719 3,719 4.3% 41.5% ENGIE4 1998 1999 2000 2001 2002 2003- 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2Q20 6.3% 2006 Private Sector – Own Installed Capacity1 (GW) Eletrobras 10.6 Current installed capacity 26.9% 1.9 Installed capacity under expansion5 5.8 Source: Aneel, Companies’ websites and in-house studies. 4.4 4.9 4.6 4.7 Notes: 1 8.7 0.1 1.1 Apparent sum-related errors are a result from rounding of addends.
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