Release 1Q18. May 09 th, Net Income EBITDA PMTO ¹. Pecém. Commercialization. Pecém. São Manoel. Hydrological Hedge. Distributed Energy.

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1 \ Release 1Q18 May 09 th, 2018 Net Income R$ Million EBITDA R$ Million PMTO ¹ R$ Million Pecém Commercialization Pecém São Manoel Hydrological Hedge Distributed Energy Celesc Total Losses PECLD² Control R$ 44.4 Million Net Income R$ 34.8 Million EBITDA Availability of 97.5% GU02: 01/19 GU03: 03/02 GU04: 04/26 16% of Uncontracted Energy +2.3% in the Quarter Voluntary Public Tender Offer p.p. at EDP SP and p.p. at EDP ES vs Dec/17 0.9% PECLD/Gross Revenue in the Quarter Energy Traded Volume of 4,086 GWh Espírito Santo s Transmission Line Annual General Shareholder s Meeting Construction Work Initiated New Board of Directors members ¹ With PECLD and contingencies; ² PECLD: Provision for Doubtful Receivables. Market Value: R$ 7.8 bi Treasury stock: 685,476 Total Shares: 606,850,394 Free float: 48.7% Portuguese 12:00 noon (Brasília) Brazilian connecting participants: +55 (11) (11) English 11 a.m. (NYC) International connecting participants +1 (646) (800) In Portuguese with simultaneous translation to English. ri@edpbr.com.br São Paulo, May 09, EDP ENERGIAS DO BRASIL S.A. ( EDP Energias do Brasil, Company or Group ) listed on B3 Brasil, Bolsa, Balcão s Novo Mercado (ticker symbol: ENBR3) today announces its financial and operating results for the first quarter The information is shown on a consolidated basis in accordance with the accounting practices adopted in Brazil and the International Financial Reporting Standards (IFRS), based on revised financial information. The operational information has not been reviewed by the independent auditors.

2 Message from the Chief Executive Officer First quarter reflect a consistency of solid results delivery. Net Income was 59% up year-on-year due to an EBITDA 19.5% higher than in the same period last year. The first months of 2018 saw some important deliveries for the Company. These included the anticipated startup of operations at São Manoel (700 MW, in partnership with CTG and Furnas), the beginning of the construction work for the first Transmission Line, in Espírito Santo - also ahead of schedule - and the conclusion of the PTO for the acquisition of Celesc preferred shares. São Manoel Plant is the third investment to be completed ahead of schedule, following the same performance with Santo Antônio do Jari and Cachoeira Caldeirão, both in partnership with CTG. Considering the entire process of anticipation, we ve obtained an additional revenue of R $ 93.5 million until the beginning of the CCEAR, which occurred on April 26. We were able to increase the project value by selling the anticipated energy, as well as uncontracting 30% of the energy in the MCSD (Excess and Deficits Compensation Mechanism), allowing an improvement in the average sales price of energy. Following the approval of the Installation License for the Espírito Santo Transmission Line, construction works began 17 months ahead of the regulatory term. The Company also received the EIA-RIMA (Environmental Impact Study Environmental Impact Report) for the Santa Catarina Transmission Line, once more a positive sign that construction work could start early. In April, we concluded Celesc s PTO with the additional acquisition of 8.64% of the preferred shares at R$ These shares, together with Previ's previously acquired lot, account for 19.62% of the total capital of the company from Santa Catarina. We thus began our participation in the management of Celesc, with the indication, at the last General Meeting, of three members for the Company's Board of Directors and one member for the Fiscal Council. The 1Q18 results for EDP s distributed energy grew for the third consecutive quarter, consolidating a scenario of economic recovery, mainly in the industrial and commercial classes where there were increases of 3.1% and 2.1%, respectively in the first quarter of In the Distribution segment, the evolution of losses levels is also a highlight in the quarter, following a downward trend. In São Paulo, we have already recorded levels of non-technical losses in the low voltage below the regulatory target. It results from a structured effort to combat losses and from the reinforcement of investments in our distribution networks. As to the Commercialization and Generation segments, the assertive strategy of working together outcome as results in both businesses. The Commercialization, for the 6 th consecutive quarter, presented increasing results, with Gross Margin of 44.3% and EBITDA of 58.8%, higher than in 1Q17. Additionally, the strategy of mitigating hydrological risk proved effective once more. Despite the GSF of 112%, the Company continued to consistently manage its hedge, having neutral impact on quarter s result. Cost controls remains effective. Since the introduction of ZBB methodology, in 2015, we have already seen efficiency gains of more than R$ 200 million and in parallel, PMTO overheads growing below inflation rates. In 2018, we launched ZBB 3.0 which has already produced favorable results compared with 1Q17. With a focus on the optimization of capital structure, EDP reported consolidated leverage reached 2.1x Net Debt/EBITDA ratio at the end of the quarter. The improvement in the credit evaluation of EDP and its controlled companies together with a decline in interest rates is reflected in the improvement of the Financial Results. This should also be seen principally with the deleveraging of the holding company with a view to more efficient tax planning will be a challenging year. Signs of the economy recovery have boost our sector favorably. At EDP we will keep our commitments to our shareholders, our people, our customers and partners. We will remain focused on our value creation agenda, delivering profitable growth and making the operation increasingly efficient and competitive. Miguel Setas Chief Executive Officer

3 Highlights of the Quarter o 1 Excluding the following effects: Restatement of the indemnifiable financial asset (VNR). 2 Capex incorporates consolidated assets. ³ Net Debt Balance as of 12/31/2017 (cash considering availability and marketable securities). Net Revenue: R$ 2.8 billion, an increase of 23.3%, due to tariff readjustments at the DisCos, secondary energy from the GenCos and a higher volume of traded energy. Gross Margin: amounted to R$ million, an increase of 9.3%, impacted mainly by the result of the ADOMP (Dispatch by Order of Merit by Adjusted Price) for Pecém and the positive impact of secondary energy related to an average GSF of 112.6% and the PLD in the period. Manageable Expenditures: PMTO fell 5.1% compared with 1Q17 due to a decrease in PECLD (Provision for Doubtful Receivables), and cost with Personnel and seasonal effects of costs. The Company continues to maintain rigorous control over costs through its Zero-Based Budget (ZBB) and robotization, reflecting in the PMTO, which remained flat when compared with 1Q17, thus reaffirming the Company s commitment to maintaining control over expenses with increases below inflation levels. EBITDA: in the quarter, EBITDA rose 19.5%. Of the total amount reported in the quarter, 39.5% of the EBITDA relates to Hydroelectric Generation, 20.3% to Thermal Generation, 36.9% to Distribution and 5.4% to the Commercialization and EDP Grid and -2.1, from others and eliminations. Net Income: amounted to R$ million, an increase of 58.9%, mostly due to the increase in margin and the improvement in financial result. Net Debt: Continuing with the strategy of reducing the cost of debt (pre- and post-taxes) and the deleveraging of EDP Holding. Net Debt/EBITDA ratio reached 2.0x, allowing continuity of the Company s projects with controlled risk. Energy Management: Hydro: the Company has taken measures to protect its portfolio from the impacts of the GSF (Generation Scaling Factor) and PLD (Price for the Settlement of Differences), allowing the capture of avoided costs and with neutral impact on the Results for the Quarter. o Commercialization: the increase in volume of traded energy was 30.5%. The Gross Margin reported a growth of 44.3% resulting from operations involving long and short positions with the capture of opportunities in the short-term market due to a greater availability of energy. EBITDA for the quarter was R$ 34.8 million, a year-on-year increase of R$ 12.9 million. o o Main Indicators Indicators (R$ thousand) 1Q18 1Q17 Var. Gross Margin 954, , % PMTO (298,527) (314,448) -5.1% EBITDA 644, , % Adjusted EBITDA¹ 634, , % Net Income 214, , % Adjusted Net Income¹ 207, , % Capex² 134, , % Net debt 4,611,118 4,342,047³ 6.2% Thermal: through the hedge mechanism, it was possible to generate a positive impact on Gross Margin of R$ 248 thousand in the quarter. Distribution: the distributors posted an increase in volume of distributed energy of 2.3%, impacted by a 3.6% growth at EDP São Paulo. São Manoel: early commercial operation start-up with sales of R$ 93.5 million. Transmission: beginning of construction works for the Espírito Santo Transmission Line, 17 months ahead of the schedule set by ANEEL and 7 months ahead of the Company s base case for the Auction.

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5 Early Commercial Operation start-up of São Manoel HPP On December 28, 2017, São Manoel HPP s first generator unit began commercial operations four months ahead of the starting date of the CCEAR (Power Purchasing Agreement in the Regulated Contracting Environment). The second and third Generator Units also began operations ahead of schedule on January 19 and March 2, respectively. The fourth Generator Unit has also since gone into operation on April 26, the plant therefore now being fully operational. The CCEAR came into effect on the same date as the startup in operations of the last Generator Unit. Drawdown and Capture of Financial Resources During the quarter, the consolidated companies of the group raised the following resources at the average rate of 9.59%. Considering São Manoel, the average rate was 9.64%. Company EDP São Paulo EDP Espírito Santo Investco Source Consolidated 8 th Debentury Issue - 2 nd Series Release - BNDES FINEM 6 th Debentury Issue - 2 nd Series Release - BNDES FINEM Release - BNDES FINEM Bank Credit Bill Non-consolidated Release Date Amount (Thousand) Jan/18 100,000 Feb/18 36,600 Jan/18 100,000 Feb/18 38,280 Mar/18 49,813 Feb/18 40,000 Company São Manoel Source Release - BNDES FINEM Release - BNDES FINEM Release Date Amount (Thousand) Feb/18 20,000 Mar/18 26,354 APINE injunction with respect to the GSF at Enerpeixe On February 07, 2018, APINE s (Brazilian Association for Independent Electric Energy Producers) injunction limiting the effects of hydrological risk for non-signatory companies to GSF renegotiations in the ACL (Free Contracting Environment) was revoked. However, on February 16, APINE successfully lodged an appeal reestablishing the effects of the injunction for the period from July 1, 2015 to February 07, 2018 having an impact on the accounts as from this date. The Company has fully provisioned the liability in the Suppliers account which is offset against a receivable on the assets side under the Accounts Receivable item. Installation License Granted for EDP Transmissão S.A. Transmission Line On February 09, 2018, an Installation License ( IL ) was granted by the state environmental protection agency - Instituto Estadual de Meio Ambiente e Recursos Hídricos (IEMA) to EDP Transmissão S.A. for the 230 Kv SE Linhares II SE São Mateus II Transmission Line and São Mateus II Substation, lot 24, for which the Company made a successful bid in the Second Stage of the Electric Energy Transmission Public Service Concession Auction 013/2015. Conclusion of the Acquisition of stake in Celesc On March 21, the Company concluded the acquisition of 14.5% of the total shares issued by Centrais Elétricas de Santa Catarina S.A. CELESC and on March 27, the Notice for a Voluntary Public Tender Offer was published (PTO) for the further acquisition of preferred shares of the same issuer. On April 26, the PTO was concluded with the acquisition of 1,990,013 preferred shares at the price of R$ (twenty-seven reais) each, representing a total amount of R$ 53.7 million. With the conclusion of the transaction, the Company now has a 19.62% stake in Celesc s capital stock. EIA_RIMA recognition for the Santa Catarina Transmission Line Lot On April 09, and therefore before the scheduled date, the Environmental Impact Study Environmental Impact Report for the Santa Catarina Transmission Line ( EIA-RIMA ), was filed with the state of Santa Catarina Environmental Protection Agency ( FATMA ), required for the Preliminary License, boding well for the License to be issued ahead of forecast and consequently an early start on construction work.

6 The following information relates to the first quarter 2018 in comparison with the ratified period for Items in R$ Thousand or % Hydro Generation 2 Thermal Generation Distribution Comerc. + EDP GRID Transmission Holding Eliminations Consolidated 2 1Q18 1Q18 1Q18 1Q18 1Q18 1Q18 1Q18 1Q18 Net Revenue 1 323, ,891 1,576, ,494 1,613 1,723 (241,031) 2,834,294 Infrasctructure Construction Revenue ,600-14, ,494 Non-Manageable Expenditures (46,968) (264,226) (1,107,409) (700,704) ,003 (1,879,304) Gross Margin 276, , ,410 48,790 1,613 1,723 (1,028) 954,990 Manageable Expenditures (60,912) (67,127) (384,507) (15,203) (16,561) (36,563) (9,245) (590,118) PMTO (22,244) (26,730) (217,386) (14,058) (1,666) (16,799) 356 (298,527) Gain and Loss on the Deactivation and Asset Sale 2 (3) (13,802) ,796 (11,663) Gain and Losses on Alienation of Property EBITDA 254, , ,222 35,076 (54) (15,076) 1, ,799 Depreciation and Amortization (38,670) (40,394) (48,719) (1,489) - (19,764) (11,397) (160,433) Result of Statutory Participation 1, ,534 (252,673) 918 Net Financial Result (41,765) (32,664) (26,652) 3, (3,952) 166 (101,681) Net Income Before Minority Interests 130,536 44, ,723 23, ,116 (260,152) 262,266 Minority Interests (48,144) (6) - - (48,150) Net Income 82,392 44, ,723 23, ,116 (260,152) 214,116 Items in R$ Thousand or % Hydro Generation 2 Thermal Generation Distribution Comerc. + EDP GRID Transmission Holding Eliminations Consolidated 2 1Q17 1Q17 1Q17 1Q17 1Q17 1Q17 1Q17 1Q17 Net Revenue 1 288, ,561 1,399, ,725-1,840 (202,800) 2,298,436 Infrasctructure Construction Revenue , ,247 Non-Manageable Expenditures (29,787) (206,334) (944,543) (446,371) ,723 (1,424,312) Gross Margin 258, , ,988 34,354-1,840 (77) 874,124 Manageable Expenditures (60,857) (67,415) (435,487) (11,465) - (28,211) (12,459) (615,894) PMTO (22,420) (27,986) (227,965) (10,423) - (25,593) (61) (314,448) Gain and Loss on the Deactivation and Asset Sale 3 - (19,997) (25) (20,019) Gain and Losses on Alienation of Property EBITDA 236,375 96, ,026 23,906 - (23,753) (61) 539,734 Depreciation and Amortization (38,440) (39,429) (46,107) (1,017) - (2,618) (11,646) (139,257) Result of Statutory Participation (3,910) ,545 (160,155) (3,520) Net Financial Result (49,328) (51,276) (47,869) (147,470) Net Income Before Minority Interests 100,809 3,519 76,147 16, ,759 (167,902) 164,115 Minority Interests (29,356) (29,356) Net Income 71,453 3,519 76,147 16, ,759 (167,902) 134,759 Items in R$ Thousand or % Hydro Generation 2 Thermal Generation Distribution Comerc. + EDP GRID Transmission Holding Eliminations Consolidated 2 Var Var Var Var Var Var Var Var Net Revenue % 27.6% 12.7% 55.9% n.a. -6.4% 18.9% 23.3% Infrasctructure Construction Revenue n.a. n.a % n.a. n.a. n.a. n.a % Non-manageable Expenditures 57.7% 28.1% 17.2% 57.0% n.a. n.a. 18.4% 31.9% Gross Margin 7.0% 26.9% 3.2% 42.0% n.a. -6.4% % 9.3% Manageable Expenditures 0.1% -0.4% -11.7% 32.6% n.a. 29.6% -25.8% -4.2% PMTO -0.8% -4.5% -4.6% 34.9% n.a % % -5.1% Gain and Loss on the Deactivation and Asset Sale -33.3% n.a % n.a. n.a. n.a. n.a % Gain and Losses on Alienation of Property n.a. n.a. n.a. n.a. n.a. n.d. n.a. n.a. EBITDA 7.7% 36.0% 15.1% n.a. n.a % n.a. 19.5% Depreciation and Amortization 0.6% 2.4% 5.7% 46.4% n.a % -2.1% 15.2% Result of Statutory Participation n.a. n.a. n.a. n.a. n.a. 57.3% 57.8% n.a. Net Financial Result -15.3% -36.3% -44.3% % n.a % n.a % Net Income Before Minority Interests 29.5% % 44.1% 40.5% n.a. 58.9% 54.9% 59.8% Net Income 15.3% % 44.1% 40.5% n.a. 58.9% 54.9% 58.9% 1 Does not consider Infrastructure construction Revenue. 2 Considers intragroup elimination. There were no non-recurring events which affected the quarter.

7 Consolidated Items in R$ Thousand or % 1Q18 1Q17 Var Net Operating Revenue 2,834,294 2,298, % Non-Manageable Expenditures (1,879,304) (1,424,312) 31.9% Energy Purchased to Resell (1,402,184) (1,134,295) 23.6% Charges for Usage of Basic Network (260,721) (124,474) 109.5% Others (216,399) (165,543) 30.7% Gross Margin 954, , % Note: Gross Margin does not consider Construction Revenue. Breakdown of Gross Margin 1Q18 (R$ million) +9.3% Q17 Margin Hydro Generation Pecém Distribution Commerc.+GRID Transmission/ Others/ Eliminations 1Q18 Margin Note: Gross Margin for the Transmission Segment relates to Revenue with the Remuneration of Indemnifiable Financial Asset. In 1Q18, the Gross Margin was R$ million, an increase of 9.3%, impacted principally by the result of: (i) Hydro: reflects the positive impact of secondary energy related to an average GSF of 112.6% and in the context of an average PLD of R$ 196.0/MWh (SE/C-W Submarket) which fed through to a gain of R$ 37.8 million in 1Q18, more especially in March when the GSF reached 117.3% with residual impact on the Company s hedge strategy; (ii) Pecém: booking of the effect of a receivable of R$ 12 million following the rebooking of the ADOMP due to the change in the benchmark parameter as detailed in the Chapter entitled Pecém; (iii) Distribution: effect arising from the improvement of technical and non-technical losses at the two distributors; and (iv) Commercialization: the effect resulting from operations involving long and short positions with the capture of opportunities in the short-term market with a greater availability of energy. The Company continues committed to maintaining strict cost control through its initiatives under the Zero-Base Budget Program (ZBB). Since the Program s implementation in 2015, it has already resulted in accumulated gains of more than R$ 200 million, both in the form of increased revenue and operational improvements in efficiency as well as in the redirecting of resources to strategic items. In 2018, the Company launched its ZBB 3.0 focusing on the costs of the Corporate Center - CSP and other support areas of the business. The initiatives under the new program involve three fronts: (i) Strategic sourcing with a view to optimizing the scope and renegotiation of existing agreements; (ii) Productivity with the key objective being the consolidation of activities in addition to improvements, automation and robotization of processes; and (iii) review of the model for prorating of costs the aim being to define cost indicators per area and/or activities thus allowing a better redistribution of costs and the optimization of the allocation structure between the holding company and the subsidiaries. It is worth highlighting that, as a result of the revision of the cost sharing model of the Holding Company in ZBB 3.0, there was a reduction of 30.6% in the Holding's PMTO between the periods compared, mainly under "Third Party Services" and "Personnel", reflecting the sharing of costs with the subsidiaries and the Company's discharge.

8 Consolidated Items in R$ Thousand or % 1Q18 1Q17 Var Personnel (116,345) (116,704) -0.3% Material (11,836) (12,691) -6.7% Third-Party Services (109,649) (115,852) -5.4% Provision (29,078) (39,295) -26.0% Other (31,619) (29,906) 5.7% PMTO (298,527) (314,448) -5.1% Gain/Loss on the Deactivation/Asset Sale (11,663) (20,019) -41.7% Infrastructure Construction Costs (119,495) (142,170) -15.9% Depreciation and Amortization (160,433) (139,257) 15.2% Manageable Expenditures (590,118) (615,894) -4.2% Consequently, in the quarter, PMTO expenditures fell 5.1%. Part of this effect refers to the seasonality of services performed, when compared to 1Q17. Excluding PECLD and Contingencies, consolidated PMTO was down 2.1% in the Quarter, less than accumulated IPCA for the period, as shown in more detail below: Personnel decrease of 0.3% (-R$ 0.4 million): (i) Reduction in indemnities with severance agreements principally at the holding company and EDP Espírito Santo (-R$ 1.3 million); and (ii) Increase of payroll expenses due to the collective bargaining agreement in January, retroactive to November 2017 (+R$ 1.0 million). Materials Reduction of 6.7% (- R$ 0.9 million): (i) Reduction in costs of scheduled preventive maintenance at Pecém (-R$ 0.7 million); and (ii) Reduction in the maintenance costs of the Distributors electric system (-R$ 0.4 million). Third-Party Services a drop of 5.4% (-R$ 6.2 million): (i) Reduction of expenditures with Publicity and Advertising (-R$ 3.2 million); (ii) Reduction in the costs with services for combating fraud due to the difference in scope of services rendered (-R$ 1.6 million); (iii) Reduction in the costs of programmed maintenance at Pecém (-R$ 1.1 million); and (iv) Reduction in the costs of maintenance of the Distributors electrical system (-R$ 0.6 million). Provisions a decline of 26.0% (-R$ 10.2 million): (i) Reduction in PECLD due to the change in methodology under Brazilian Accounting Pronouncements - CPC 48 for Financial Instruments in correlation with the IFRS9 standard and shown in more detail in the chapter entitled PECLD (-R$ 4.1 million); and (ii) Reversal of contingencies at Investco due to a revision in the classification of a fiscal/tax process and the reversing of a civil contingency provision in the name of the holding company (-R$ 6.1 million). Others an increase of 5.7% (+R$ 1.7 million): (i) Moving costs related to the new head offices of EDP Espírito Santo (+R$ 0.5 million); and (ii) Increase in costs related to fines in the name of EDP Solar due to project delivery delay (+R$ 1.8 million). In the Gains and losses on asset deactivation and property disposals account of -R$ 11.7 million, a reduction of R$ 8.4 million, due to the study on the reuse of meters removed from customers of EDP São Paulo and EDP Espírito Santo. The Depreciation and Amortization account increased 15.2%, reflecting the amortization of Goodwill from the acquisition of Lajeado (R$ 42.3 million) beginning in 2018 and booking the relative amounts retroactive to 2008 and now to be amortized up to the end of the concession agreement (2033). There were no events affecting the account of gains from disposals and/or acquisition of investments in the period under analysis. In 1Q18, EBITDA was R$ million, an increase of 19.5%.

9 +19.5% EBITDA 1Q17 Hydro Generation Pecém Distribution Commerc.+ GRID Transmission/ EBITDA 1Q18 Others/ Eliminations Note: The booking of the result for the Transmission segment is in accordance with ICPC 01, IFRIC12 Adjusted EBITDA, excluding the booking of the Restatement of the Indemnifiable Financial Asset (VNR), was R$ million, an 18.8% increase. Items in R$ Thousand or % 1Q18 1Q17 Var EBITDA 644, , % Update of Indemnable Financial Assets (VNR) (10,512) (5,634) 86.6% Adjusted EBITDA 634, , % Minority Interests Result 918 (3,520) 126.1% EBITDA in Accordance with CVM 527 Instruction 645, , % The Result from Minority Stakes was R$ 0.9 million, reflecting the better result from Jari and Cachoeira Caldeirão HPPs due to the improvement in PLD and GSF binomial, this in turn arising from secondary energy, as well as the improvement in the Net Financial Result due to lower CDI and TJLP rates in the period. Items in R$ Thousand or % 1Q18 1Q17 Var Santo Antônio do Jari (50%)¹ 4,334 1,268 n.a. Cachoeira Caldeirão (50%)1 (952) (4,329) 78.0% São Manoel (33.33%)¹ (2,325) (849) % Others² (137) 391 n.a. Minority Interests Result 918 (3,520) 126.1% 1 Considers added value of assets 2 Considers equivalence of Port of Pecém Transportadora de M inérios (Pecém TM ), Pecém Operação e M anutenção (Pecém OM ) and M abe.

10 Financial Results (R$ Thousand) Financial Revenue increased 16.6%, R$ 13.5 million, due to the: (i) increase in the Energy sold line due to the increase in revenue from interest and fines on payments by delinquent customers (+R$ 11.3 million); (ii) increase in Judicial deposits and provisions for civil, tax and labor risks due to monetary restatement of judicial deposits for all group companies (+R$ 26.3 million); (iii) increase in the Other interest and monetary variation, due to the restatement of the complement to the environmental license (+R$ 4.4 million); and (iv) reduction in income from financial investments due to the decline in CDI, plus lower cash outstandings held largely with the holding company (-R$ 29.0 million). Financial expenses reported a reduction of 11.6%, R$ 26.9 million, due to the: Consolidated 1Q18 1Q17 Var Financial Revenue 95,168 81, % Interest and Monetary Variation 99,231 88, % Income from Financial Investments and Collaterals 26,487 55, % Energy Sold 39,708 28, % Judicial Deposits and Provisions for Civil, Tax and Labour Risks 27,673 1, % Loan Agreements 353 2, % Other Interests and Monetary Variation 5, % Adjustments to Present Value 1, % (-) Taxes on Financial Income (6,484) (9,252) -29.9% Other Financial Revenues 1,329 2, % Financial Expenditures (204,554) (231,408) -11.6% Debt Charges (136,196) (178,796) -23.8% Loans and Financing (54,984) (68,997) -20.3% Debentures (81,206) (110,951) -26.8% Adjustments to Present Value (1,144) (1,112) 2.9% (-) Capitalized Interests 1,138 2, % Interest and Monetary Variations (54,684) (39,996) 36.7% Purchased Energy (48) (27) 77.8% Provisions for Civil, Tax and Labour Risks (12,444) (10,861) 14.6% Usage of Public Good (6,837) (3,652) 87.2% Generation Scaling Factor - GSF (12,711) (3,354) 279.0% Post-Employment Benefits (20,563) (18,665) 10.2% Other Interests and Monetary Variation (2,081) (3,437) -39.5% Adjustments to Present Value (3,023) (3,831) -21.1% Other Financial Expenditures (10,651) (8,785) 21.2% Monetary Variation (992) 5,802 n.a. Net Income from Swap and Hedge Operations (1,977) (12,571) -84.3% Sectoral Financial Assets/Liabilities 1,830 4, % Interest and Fine on Taxes 8,844 4, % Total (101,681) (147,470) -31.0% (v) reduction of expenses with Loans and Financing and with Debentures due to the reduction in risk spreads and average interest rates (CDI, TJLP and IPCA) (+R$ 43.8 million); and (vi) increase in GSF expenses due to restatement of provisioned amounts for Enerpeixe with respect to the injunction for defining the agreement for adhering to the renegotiation of the GSF (-R$ 9.4 million). Currency variation reflects the financing of Pecém from the Caixa Geral de Depósitos (-R$ 6.8 million). The net result of Hedge and Swap operations reflects the effect of the difference between long and short positions and the marking to market of derivatives held in the name of EDP São Paulo and Pecém. Consolidated Net Income amounted to R$ million, an increase of R$ 79.4 million, the result of the aforementioned effects, mitigated by an additional Income Tax and Social Contribution expense of R$ 36.0 million due to an increase in the tax base of R$ million between compared periods. Additionally, the temporary fiscal effects below affected the amount of Income Tax and Social Contribution booked in the quarter.

11 Itens em R$ Mil ou % 1Q18 1Q17 Var Income Befor Taxes on Profit 383, , ,116 Aliquot 34% 34% n.a. IR/CS (130,427) (84,827) (45,600) Non-Recurring Effects Unrecognized Deferred Taxes (15,421) (8,593) (6,828) Interest - Preferred Shares CPC 39-4,613 (4,613) Results from Corporate Participation 312 (1,197) 1,509 SUDAM / SUDENE 23,094 5,900 17,194 Others 1,105 (1,268) 2,373 Total (121,337) (85,372) (35,965) The R$ 17.2 million variation in the SUDAM/SUDENE line refers to the realization of the tax benefit in Pecém (realization of taxable profit) and in Enerpeixe (renewal of the tax benefit in the end of 2017 and retroactive to previous quarters). Net Income adjusted for the effects, mentioned in the chapter entitled EBITDA, was R$ million, an increase of R$ 76.1 million in the quarter. Items in R$ Thousand or % 1Q18 1Q17 Var Income 214, , % Update of Indemnable Financial Assets (VNR) (6,938) (3,718) 86.6% Adjusted Net Income 207, , % Breakdown of Net Income 1Q18 (R$ million) +58.8% Net Income 1Q17 EBITDA Dep & Amort Result from corporate participation Financial Result Income tax and social contribution Attributable to non-controlling shareholders Net Income 1Q18 The Company ended the quarter with Gross Debt of R$ 6.4 billion, an increase of 6.2% when compared to the end of 2017, the result of new debenture issues and loans taken by group subsidiaries and part of the strategy for deleveraging EDP Holding Company for optimizing capital structure and tax planning. The capital markets opened 2018 more optimistically on the outlook for economic expansion and reduction in the basic rate of interest, paving the way for better conditions for debenture issues. As of March 31, 3.4% of the Company s debt was currency denominated with 100% derivatives-based hedging against exchange (USD) and interest rate (Libor) risks. Gross Debt excludes the debt in the name of the Santo Antônio do Jari, Cachoeira Caldeirão and São Manoel HPPs. Gross Debt by company (R$ million) 1, ,216 1, , EDP São Paulo EDP Espirito Santo Energest Enerpeixe Investco Pecém EDPE Holding Loans Debentures Intragroup Loan Lajeado Grid Santa Fé PCH Note: Intergroup eliminations of R$ 367 million not considered. Investco s preferred shares are classified as debt. Loans between Group companies are eliminated in consolidated.

12 Net Debt, considering cash and marketable securities, amounted to R$ 4.6 billion, an increase of 6.2%, due to additional leverage, principally at the distributors, new credit lines raised during the quarter amounting to R$ million, as already mentioned. Amortization of principal and interest shown in the following chart relates principally to the following: (i) BNDES, FINEM line for EDP São Paulo, EDP Espírito Santo and Pecém; (ii) Foreign working capital line under Law 4131 for EDP São Paulo; and (iii) 4 th Debenture Issue in favor of the Holding Company. Breakdown of Gross Debt (R$ million) +6.2% , ,058 Debt Dec/2017 Funding Monetary variation Interests Principal Amortization Interests Payment Swap Amortization Market value adjustment Debt Mar/2018 The average cost of debt at quarter-end 2018 was 9.7% p.a. compared to 11.1% p.a. at the end of 2017 and including capitalized interest of debt and charges incurred in the past 12 months. The reduction in average cost is the result of lower CDI - the Interbank Deposit Rate (from 9.93% p.a. in December 2017 to 8.39% p.a. in March 2018) and in the IPCA inflation index (from 2.9% p.a. in December 2017 to 2.7% p.a. in March 2018). The average term of the consolidated debt was 2.7 years. Gross Debt by Index on 03/31/18 IPCA, 13.4% Fixed Rate, 3.8% USD, 3.4% Debt Maturity Schedule 1 (R$ million) 1,824 1,340 1,239 1,160 1,246 1,450 TJLP, 20.9% CDI, 58.4% Availabilities After 2022 Note: considering that currency denominated financing is hedged against exchange rate risk (USD), the percentage breakdown of indexers would be: CDI 61.8%, the remaining indexers being unchanged. Note: 1 Amounts incorporate principal + charges + results from hedge operations Net Debt/EBITDA Period Consolidated ND/EBITDA Consolidated & Participations 1 ND/EBITDA Mar/ x 2.3 x Jun/ x 2.2 x Sep/ x 2.4 x Dec/ x 2.5 x Mar/ x 2.4 x 1 Values presented in proportion to EDP Energias do Brasil participation The Net Debt/EBITDA ratio was 2.0 times. Based on EDP Energias do Brasil s stakes in Santo Antônio do Jari (50%), Cachoeira Caldeirão (50%) and São Manoel (33.33%), the overall Net Debt/EBITDA ratio would be 2.4 times, the average term of debt would be 3.7 years and average annual cost, 9.6%. Considering unconsolidated assets, the breakdown of debt by indexer would be 50.2% in CDI, 29.9% in TJLP, 14.0% in IPCA, 2.8% in US Dollars and 3.1% at pre-fixed interest rates.

13 In the quarter on a consolidated basis, the variation in fixed assets fell 19.6%, impacted principally by the reduction of R$ 36.8 million in Distribution. Capex (R$ Thousand) 1Q18 1Q17 Var Distribution 104, , % EDP São Paulo 55,089 77, % EDP Espírito Santo 49,511 63, % Generation 10,302 20, % Enerpeixe % Energest % EDP PCH 3,074 1, % Lajeado / Investco 1,527 2, % Pecém 4,865 14, % Costa Rica % Santa Fé n.a. Transmission 18, % Others 1,144 4, % Total 134, , % Investments in the Distribution segment amounted to R$ million (net of special obligations and revenue from surplus energy), a reduction of 26.0% in the quarter. Out of total investments, 48.1% was allocated to the installation of metering systems, line expansion, substations and distribution networks for connecting new clients. A further 38.4% was used for improvements to the network, substitution of equipment and meters, both obsolete and depreciated, as well as the reconductoring of networks at the end of their useful lives, 11.9% was invested in telecommunications, IT and other activities such as infrastructure and commercial projects and 1.6%, urban and rural universalization programs for providing consumer hookups and access to energy services. Company forecasts for investments in distributors approved for fiscal year 2018 is R$ million (investments to be slanted more to the second half of the year), showing the substantial increase in the level of investments and management s commitment to improving the quality of the service rendered and operational efficiency. Capex - Distribution (R$ Thousand) Total EDP São Paulo 1Q18 1Q17 Var Total Capex Net of Special Obligations 57,912 92, % (+) Special Obligations 365 1, % Gross Value 58,277 93, % (-) Interest Capitalization (3,188) (16,474) -80.6% Value net of Interest Cap. 55,089 77, % EDP Espírito Santo Capex - Distribution (R$ Thousand) 1Q18 1Q17 Var Total Capex Net of Special Obligations 57,287 69, % (+) Special Obligations % Gross Value 58,060 70, % (-) Interest Capitalization (8,549) (6,750) 26.6% Value net of Interest Cap. 49,511 63, % Distribution 104, , % In the Generation segment, investments were R$ 10.3 million, a 48.6% reduction due to the improvement in the Pecém operation which required less investment than was the case in 1Q17. In the Transmission segment, particular focus in the quarter was on investments of R$ 18.2 million, reflecting the beginning of territorial studies and engineering projects for the lots acquired at the transmission auctions. If investments are analyzed according to the Company s stake in the hydroelectric generation projects, namely Jari (R$ 0.2 million), Cachoeira Caldeirão (R$ 0.5 million) and São Manoel (R$ 36.7 million), total investments would have amounted to R$ million, a decrease of 26.5%. This reduction also reflects the completion of work on São Manoel, 3 out of the 4 GUs going into commercial operations during 1Q18.

14 Capex (R$ Thousand) 1Q18 1Q17 Var Distribution 104, , % Generation 47,785 86, % Genaration Others 10,302 20, % Santo Antonio do Jari HPP¹ % Cachoeira Caldeirão HPP¹ % São Manoel HPP² 36,741 65, % Transmission 18, % Others 1,144 4, % Total 171, , % ¹ Considers EDP participation = 50% ² Considers EDP participation = 33.3% Distribution registered increases in the volume of distributed energy of 2.3% and the number of customers of 1.6%. EDP Distribution Volume (MWh) Consumers (unit) 1Q18 1Q17 Var Var Residential 1,583,090 1,571, % 2,888,730 2,847, % Industrial 2,666,316 2,586, % 24,373 24, % Free 2,196,488 2,106, % % Captive 469, , % 23,969 23, % Commercial 1,110,587 1,087, % 253, , % Free 261, , % % Captive 848, , % 253, , % Rural 218, , % 195, , % Others 506, , % 27,362 27, % Permissionary 12,262 11, % % Concessionaries\Generation 119, , % % Total Energy Distributed 6,217,291 6,078, % 3,389,886 3,337, % EDP São Paulo Volume (MWh) Consumers (unit) 1Q18 1Q17 Var Var Residential 933, , % 1,687,292 1,656, % Industrial 1,743,450 1,678, % 13,080 12, % Free 1,424,792 1,360, % % Captive 318, , % 12,800 12, % Commercial 642, , % 129, , % Free 149, , % % Captive 493, , % 129, , % Rural 21,110 20, % 7,917 7, % Others 278, , % 13,744 13, % Permissionary 12,262 11, % % Concessionaries\Generation 79,626 58, % % Total Energy Distributed 3,710,978 3,582, % 1,851,934 1,815, %

15 EDP Espírito Santo Volume (MWh) Consumers (unit) 1Q18 1Q17 Var Var Residential 649, , % 1,201,438 1,190, % Industrial 922, , % 11,293 11, % Free 771, , % % Captive 151, , % 11,169 11, % Commercial 467, , % 123, , % Free 112, , % % Captive 355, , % 123, , % Rural 197, , % 187, , % Others 228, , % 13,618 13, % Concessionaries\Generation 40,373 45, % % Total Energy Distributed 2,506,312 2,495, % 1,537,952 1,521, % The total volume of distributed energy posted an increase in the quarter: +3.6% at EDP São Paulo and +0.4% at EDP Espírito Santo, with notable growth of 3.1% and 2.1% in the Industrial and Commercial classes, resulting from: (i) a recovery in economic activity in the two states; (ii) growth of 4.3% in industrial production 1 in Brazil; (iii) low levels of inflation 2 ; (iv) the reduction in interest rates 3 ; (v) the improvement in incomes 4 and a positive outlook related to prospects for an improved jobs market 5, mitigated by (vi) by milder temperatures in the State of Espírito Santo and by the increase in precipitation levels. Captive Market Average Tariff (R$/MWh) EDP São Paulo EDP Espírito Santo 1Q18 1Q17 Var 1Q18 1Q17 Var Residential % % Industrial % % Commercial % % Rural % % Others % % Total % % The average sales tariff at EDP São Paulo and EDP Espírito Santo increased 22.6% and 7.1%, respectively following the Annual Tariff Readjustment, both in The green tariff flag was applied for the first quarter 2018 (no tariff surcharge), reflecting favorable hydrological conditions in the period. Total energy delivered to the system was 7,696 GWh. Total losses in transmission, sales and adjustments were 436 GWh. Required Energy amounted to 7,259 GWh, which, excluding the 834 GWh related to losses, represents the total Distributed Energy of 6,425 GWh. Distributed Energy Balance 1Q18 (MWh) Of the total Required Energy, 57.9% was destined for EDP São Paulo and 42.1% for EDP Espírito Santo. 1 Source: Instituto Brasileiro de Geografia e Estatística - IBGE. Monthly Survey of Industry. February/ For the past 12 months, IPCA declined to 2.68% after recording 2.84% in the preceding 12 months. Source: Instituto Brasileiro de Geografia e Estatística - IBGE. National System of Consumer Prices Indices IPCA and INPC March/ Selic base rate of 6.5% p.a. following the 12 th consecutive reduction. Source: Central Bank of Brazil. SELIC Target March/ Increase of 2.1% in personal average real incomes for the rolling quarter from December 2017 to February 2018 when compared to the same period in the previous year. Source: Instituto Brasileiro de Geografia e Estatística - IBGE. Continuous National Household Sample Survey Rolling Quarter December 2017 to February Fear of Unemployment Index ended March at 63.8 points, a decline of 2 points when compared to the level reported in the preceding survey for December. Source: National Confederation for Industry CNI. CNI indicators: Fear of Unemployment & Life Satisfaction. March/2018.

16 Distribution EDP São Paulo EDP Espírito Santo EDP Distribuição Itaipu + Proinfa 617, ,110 1,012,598 Auction 2,141,735 1,681,691 3,823,426 Others¹ 46,284 63, ,900 Energy in Transit 1,777, ,369 2,749,859 Total Energy Received 4,582,996 3,112,785 7,695,781 Transmission Losses 58,141 24,225 82,367 Losses from Itaipu 33,084 20,792 53,876 Short Term Sales -170,671-86, ,569 Short Term Adjustments 27,267-1,986 25,280 MCSD New Energy Assignment 145,985-77,944 68,041 Total Losses 380,615 55, ,572 Required Energy 4,202,381 3,056,827 7,259,208 Wholesale Supply 12,262 97, ,687 Retail Supply 1,983,537 1,582,143 3,565,680 Losses and Diferences 429, , ,983 Energy in Transit 1,777, ,369 2,749,859 Total Energy Distributed 4,202,381 3,056,827 7,259,209 ¹ Bilateral and Short Term Purchases Accumulated Losses in the Last 12 Months (GWh or %) Input of Energy in Grid (A) Technical (B) Non-technical (C) Total (B+C) Technical (B/A) Non-technical (C/A) Total (B+C/A) EDP São Paulo EDP Espírito Santo Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 ANEEL Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 ANEEL 15,947 15,959 16,130 16,275 16,376 11,457 11,353 11,276 11,318 11, ,396 1,393 1,407 1,421 1,398 1,571 1,532 1,476 1,468 1, % 5.42% 5.47% 5.50% 5.53% 4.59% 8.57% 8.50% 8.34% 8.30% 8.13% 7.14% 3.25% 3.31% 3.26% 3.23% 3.01% 3.16% 5.14% 4.99% 4.74% 4.67% 4.66% 4.63% 8.75% 8.73% 8.73% 8.73% 8.54% 7.75% 13.71% 13.50% 13.09% 12.97% 12.79% 11.77% Low Tension Accumulated Losses in the Last 12 Months (GWh or %) Low Tension Demand (D) Low Tension Commercial Losses (C/D) Total (C/D) EDP São Paulo EDP Espírito Santo Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 ANEEL Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 ANEEL 5,397 5,416 5,459 5,492 5,509 4,505 4,448 4,407 4,426 4, % 9.75% 9.63% 9.57% 8.94% 9.19% 13.08% 12.74% 12.14% 11.94% 11.92% 11.45% 9.60% 9.75% 9.63% 9.57% 8.94% 9.19% 13.08% 12.74% 12.14% 11.94% 11.92% 11.45% The Company continues to focus its investments on the shielding of consumption at the distributors. More than 60% of consumption is now totally shielded thus avoiding fraud and reducing losses. This strategy has seen positive results with the increase in energy billings and the reduction in total losses. Consumption Shielding at the Distributors: The distributors made significant investments in initiatives for combating losses, both distributors recording a reduction. The plan for combating losses is focused on strategic actions for reducing existing fraud, increasing the billing base, preventing the irregular use of energy from previously credit-worthy consumers. In the quarter, EDP São Paulo recovered 23 GWh of energy despite the increase of 101 GWh of energy fed into the network. EDP Espírito Santo similarly recovered a further 18 GWh of energy. Telemetering Metering Shield Monitoring Interventions with own team BTZero (Concentrated Metering System) Social Programs Inspections Investments in programs for combating losses amounted to R$ 17.6 million. Of the total resources, R$ 11.8 million was allocated to operating investments (substitution of meters, installation of a special grid and telemetering) and R$ 5.8 million in savings of managerial expenses High Voltage Consumers Medium Voltage Consumers Low Voltage Consumers (High Consumptions) Low Voltage Consumers EDP São Paulo % 22 4, % 4,065 17, % 14,237 20, % EDP Espírito Santo # Shielded % # Shielded % Consumers consumption Consumers consumption 75, % 21.9% 5.1% 2.2% Total Consumption Shielded: 42, % 93, % 100% Telemetering

17 (inspections and dismantling of irregular connections). The distributors undertook 52.5 thousand inspections, substituted 24.3 thousand obsolete meters and regularized 25.4 thousand clandestine/irregular connections. The reductions in total losses at EDP São Paulo and EDP Espírito Santo, when compared to December 2017, were 0.19 p.p. and 0.18 p.p., respectively. This reflected a combination of investment in expansion, improvements and maintenance of the distribution assets along with initiatives for combating non-technical losses. In the case of EDP Espírito Santo, the increase in Canivete substation capacity with three new feeders, enhanced voltage capacity at the São Mateus and Pinheiros substations, the installation of reactive power compensation which optimizes energy flow through the grid and the unveiling of the Guriri substation were the main investments made to mitigate losses from the basic network in the region. Service quality indicators remained within ANEEL-ordained standards. The improvement in indicators at EDP São Paulo and at EDP Espírito Santo reflect the strategy of effective investment in new technologies in the distribution grid, installation of the SPACER and MULTIPLEX network as well as new substations and lines. Despite the increased incidence of heavy rainfall during the quarter, the Company successfully reduced the number of occurrences in the distributors concession areas. In relation to preventive maintenance, the recurrences plan is worthy of mention, this contributing to a reduction in interruptions through technical inspections, training of field teams and executing operators and rapid action solutions in areas where continuity indicators have a greater impact and in addition to focusing on specific areas. EDP São Paulo EDP Espírito Santo DEC 1Q17 1Q18 FEC DEC 1Q17 FEC 1Q18 Note: Distributor DEC (Equivalent Duration of Interruption per Consumer Unit) and FEC (Equivalent Frequency of Interruption per Consumer Unit) indicators disclosed in the quarter are preliminary since the final indicator is published 30 days after the end of the month. ANEEL Annual Regulatory Target for 2018 EDP São Paulo: DEC 7.94 / FEC: 6.24 EDP Espírito Santo: DEC: 9.73 / FEC: 7.27 Items in R$ Thousand or % Note: Gross Margin does not consider Construction Revenue. 1Q18 1Q17 Var 1Q18 1Q17 Var 1Q18 1Q17 Var Net Operating Revenue 866, , % 710, , % 1,576,819 1,399, % Non-Manageable Expenditures (616,887) (539,252) 14.40% (490,522) (405,291) 21.03% (1,107,409) (944,543) 17.24% Energy Purchased to Resell (477,002) (486,994) -2.05% (407,378) (370,267) 10.02% (884,380) (857,261) 3.16% Charges for Usage of Basic Network (139,614) (52,258) % (82,946) (35,024) % (222,560) (87,282) % Other (271) - n.a. (198) - n.a. (469) - n.a. Gross Margin 249, , % 219, , % 469, , % Manageable Expenditures (198,803) (234,196) % (185,704) (201,291) -7.74% (384,507) (435,487) % PMTO (112,638) (123,063) -8.47% (104,748) (104,902) -0.15% (217,386) (227,965) -4.64% Personnel (42,912) (42,574) 0.79% (34,582) (35,670) -3.05% (77,494) (78,244) -0.96% Material (3,067) (3,466) % (2,886) (3,865) % (5,953) (7,331) % Third-Party Services (39,873) (43,265) -7.84% (44,220) (41,479) 6.61% (84,093) (84,744) -0.77% Provision (14,296) (20,147) % (16,535) (17,656) -6.35% (30,831) (37,803) % Other (12,490) (13,611) -8.24% (6,525) (6,232) 4.70% (19,015) (19,843) -4.17% Gain and Loss on the Deactivation and Asset Sale EDP São Paulo EDP Espírito Santo Consolidated (6,915) (11,575) % (6,887) (8,422) % (13,802) (19,997) % EBITDA 130, , % 108, , % 238, , % EBITDA Margin 14.1% 11.9% 2.20% 15.2% 16.9% -1.66% 15.1% 14.8% 0.32% EDP Distribution reported a net revenue of R$ 1.6 billion, an increase of 12.7%. This increase reflects the increase in distributed energy volume and tariff readjustments effective from 2017 (in August at EDP Espírito Santo and in October at EDP São Paulo with average perceived effects for the consumer of 9.34% and 24.37%, respectively). Gross Margin was R$ million, an increase of 3.2%, a reflection of:

18 (i) Losses: Thanks to intensive management oversight and strategic focus, the Company intensified its actions for combating losses, producing a reduction in total losses (1Q18 versus 1Q17) of 0.22 p.p. and 0.92 p.p. at EDP São Paulo and EDP Espírito Santo, respectively. The year-on-year variation in distributor losses had a positive impact of R$ 4.2 million at EDP São Paulo and R$ 13.0 million at EDP Espírito Santo; (ii) Market: positive effect of R$ 5.4 million, 3.6% at EDP São Paulo due to market growth in the concession area; (iii) VNR (Indemnifiable Asset Value): variation of R$ 3.1 million (R$ 0.4 million at EDP São Paulo and R$ 2.7 million at EDP Espírito Santo) due to the restatement of the distributors asset base; and (iv) Tariff Effect: considering the tariff impact of the readjustments and excluding the effect of Component A, the impact on the result was negative at R$ 16.9 million, due to the reduction in Component B at both distributors. R$ Million EDP São Paulo EDP Espírito Santo Total Distribution 1Q18 1Q17 Var 1Q18 1Q17 Var 1Q18 1Q17 Var Non-Indemnified Financial Asset 2,570 2, ,164 3,480 2,684 8,734 5,633 3,101 Losses (3,954) (8,115) 4,160 (5,771) (18,730) 12,958 (9,726) (26,844) 17,119 Overcontracting - (3,156) 3,156-2 (2) - (3,155) 3,155 Market 3,607-3,607 1,798-1,798 5,406-5,406 Tariff Effect (7,561) - (7,561) (9,365) - (9,365) (16,926) - (16,926) Other Revenues 14,682 14, ,367 7,074 (707) 21,049 21,276 (227) Other Effects 11,407 4,276 7,130 (6,044) 2,588 (8,632) 5,363 6,865 (1,502) Total 20,750 9,361 11,389 (6,850) (5,586) (1,265) 13,899 3,775 10,124 Non-manageable expenditures were R$ 1.1 billion, an increase of 17.2%, reflecting increases of R$ 77.6 million at EDP São Paulo and R$ 85.2 million at EDP Espírito Santo, principally in the line for Charges for usage of the basic network, the result of increased costs of electricity transmission (TUST). Through Decree 120, in 2016 the Ministry of Mines and Energy revised transmission company assets, resulting in increased adjustments for the distributors under ANEEL Resolution 2,259/2017. PMTO was R$ million, a reduction of 4.6%, principally in the Provisions item, indicative of the Company s efforts and the efficient management strategy for reducing costs and optimizing initiatives for combating defaults. EBITDA was R$ million, an increase of 15.1% due to the foregoing factors. Distributors Consolidated EBITDA versus Regulatory EBITDA (+26.4%) Regulatory EBITDA Losses Market Over Cont. OPEX PECLD VNR Other Others EBITDA Variation (105%) Revenues Gross Margin was R$ million, an increase of 5.6%, due to the following variations: (i) increase in energy volume sold (+R$ 3.6 million); (ii) reduction in losses (+R$ 4.2 million); (iii) effect of over contracting and booked in 1Q17 (+R$ 3.2 million); and (iv) other effects (+R$ 7.1 million). The PMTO was R$ million, an 8.5% reduction, principally under the Provisions item and Third Party Services. In the Provisions item, there was a reduction in PECLD and labor and civil provisions. In third party services, the variation is largely due to lower expenditures with disconnections due to the capitalization of labor used in the installation/removal of reconnectors and meters. Maintenance of the electric system also incurred reduced expenditures compared with the same quarter in Finally, EBITDA was R$ million, a 28.0% increase and reflecting the foregoing factors.

19 Corporate EBITDA vs Regulatory EBITDA - EDP São Paulo (+46.0%) Regulatory EBITDA Losses Market Variation Over Cont. (105%) OPEX PECLD VNR Other Others EBITDA Revenues Gross Margin was R$ million, an increase of 0.5%, due to the following variations: (i) reduction of losses (+R$ 13.0 million); and (ii) an increase in energy volume sold (+R$ 1.8 million). These effects were mitigated by the tariff effect, excluding the components of Component A and other effects. PMTO was R$ million, flat when compared to the same period in The Third Party Services item increased R$ 2.7 million, due to the reversal of a provision for legal services booked in 1Q17 as well as higher expenditures with infrastructure and IT. Finally, EBITDA was R$ million, an increase of 2.6%, impacted by the above-mentioned factors. Corporate EBITDA vs Regulatory EBITDA - Espirito Santo (+8.9%) Regulatory EBITDA Losses Market Over Cont. OPEX PECLD VNR Other Variation (105%) Revenues Others EBITDA From January 2018, CPC 48 Financial Instruments, in conjunction with IFRS 9, introduced the calculation of a hybrid model for expected and incurred losses for Financial Assets and classified as amortized cost. Consequently, the rule for recognition of customer PECLD is no longer according to the concept of incurred losses with a default event (for example, in the rule effective up to December 2017, in the case of the distributors residential class, booking to PECLD took place 90 days past due). According to the new expected loss concept, companies must forecast the expectation of default for accounts receivable and book the respective provision at the same time as recognizing revenue. The new methodology is calculated based on the track record of delinquency segregated by parameters of: (i) consumer class; (ii) voltage; (iii) billing date; and (iv) maturity date. The result of the analysis of the track record is adjusted to the market default probability indicator and converted into a risk matrix according to default horizon. Consumers Estimated PECLD EDP São Paulo EDP Espírito Santo Low Voltage High and Medium Voltage Low Voltage High and Medium Voltage Residential 1.26% 0.00% 1.55% 0.00% Industrial 2.37% 0.47% 1.55% 0.25% Commercial, Services and Others 0.98% 0.52% 0.80% 0.28% Rural 0.71% 0.00% 1.61% 0.08% Public Authority 0.37% 0.11% 0.15% 0.18% Public Ilumination 0.41% 0.00% 0.40% 0.00% Public Service 0.05% 0.12% 0.17% 0.10% This study indicates that the product of billings is received in a curve which can last up to three years, following collection efforts, disconnection, installment payment agreements, etc.

20 The changes in accounting policies resulting from the adoption of CPC 48 were applied to prior years and recognized in Shareholders' Equity on January 1, 2018, in accordance with current regulations. The impact on Shareholders' Equity at EDP São Paulo and at EDP Espírito Santo was R$ 28.4 million and R$ 5.9 million, respectively. In the quarter, PECLD was R$ 24.8 million, a reduction of 0.24 p.p., R$ 4.2 million at EDP São Paulo. PECLD/Consolidated Gross Revenue was 0.91%, a year-on-year reduction of 0.24 p.p. demonstrating the continuity of the Company s work in combination with the management strategy of seeking solid and consistent results. Please note that the methodology for calculating PECLD in 2017 is based on accounts past due (incurred losses) while in 2018, this is based on expected losses. EDP São Paulo EDP Espírito Santo % % 1.40% 1.20% 1.00% 0.80% 0.60% 0.40% 0.20% % % 1.20% 1.10% 1.00% 0.90% 0.0 1Q17 1Q % 5.0 1Q17 1Q % PECLD - R$/Million PECLD/Revenue PECLD - R$/Million PECLD/Revenue In 1Q18, 73 and 88 thousand power supply disconnections were made by EDP São Paulo and EDP Espírito Santo, respectively. Actions are being taken to intensify the combatting of PECLD and Default, an indication of the emphasis on more targeted initiatives such as: Constant improvement in managerial controls for monitoring financial and operational indicators; Proactive attention to the rejection of disconnection, which identifies possible failure to suspend supply for logistical operational or field execution reasons, this declining from 18% to 6%, and reflecting improved execution capacity and process efficiency; Constant work on the consumer units which are self-reconnected, through a device which prevents self-reconnection; Careful analysis of the emergency reconnection service for improving field team logistics; Creation of a client scorecard through the Analytics team, reflecting in more targeted collection initiatives and budget optimization; and Direct collection through the sending of SMS messages and administrative and judicial collections. On March 31, total regulatory assets were R$ 93.7 million (R$ 67.1 million at EDP São Paulo and R$ 26.6 million at EDP Espírito Santo). The positive variation between quarters is due principally to the following reasons: (i) Purchase of energy (Acquisition of Energy/Cost of Energy): the variation is due to the increase in the realization of energy costs of the CCEARs (Power Purchasing Agreements in the Regulated Contracting Environment) being greater than the cost of energy recognized in the tariff readjustment, that is, the coverage tariff, principally in the availability model (impacted by the increase in thermoelectric dispatch and the high passthrough of hydrological risk). Additionally, in respect of the coverage tariff, a higher PLD was considered than the one used in the period for verifying the CVA (Account for Parcel A Variations), pursuant to rules established by ANEEL and CCEE, respectively; (ii) Amortization of R$ 21.9 million, this being rebated back to the consumers in energy bills and relating to net sectorial liabilities; and (iii) ESS/EER Charges (ESS System Service Charge/EER Reserve Energy Charge): constitution of a regulatory liability reflecting the increase in transmission costs. In previous years, some transmission companies omitted the passthrough of investments realized due to the incentive they were expecting to receive directly from the federal government. However, with the absence of government resources, revenues of these transmission companies were passed through to the tariff in the last readjustment; (i) CDE (Energy Development Account): In 2018, there was an increase of about 30.8% in the monthly quota payable by the distributors and compared with 2017; and (ii) In Others, the variation of this item reflects the activation of the tariff flags, for the first three months of 2018, the green tariff being applied.

21 Energy Acquisition / Cost of Energy Itaipu EDP Consolidated Dec-17 Appropriation Amortization Update Others Mar-18 Accumulated Variation 806,160 36,463 (59,024) 7,701 (12,417) 778,883 (27,277) Charges (534,783) 56, ,592 (5,053) - (375,321) 159,462 Overcontracting (100% to 105%) (62,976) (28,137) 4,085 (91) - (87,119) (24,143) Others (106,983) (84,321) (30,684) (727) - (222,715) (115,732) Total 101,418 (19,072) 21,969 1,830 (12,417) 93,728 (7,690) Energy Acquisition / Cost of Energy Itaipu EDP São Paulo Dec-17 Appropriation Amortization Update Others Mar-18 Accumulated Variation 496,917 14,260 (49,849) 7,291 (7,814) 460,805 (36,112) Charges (327,523) 48,041 64,292 (3,841) - (219,031) 108,492 Overcontracting (100% to 105%) 8,257 (30,626) 8,064 1,002 - (13,303) (21,560) Others (107,411) (41,079) (12,487) (389) - (161,366) (53,955) Total 70,240 (9,404) 10,020 4,063 (7,814) 67,105 (3,135) Energy Acquisition / Cost of Energy Itaipu EDP Espírito Santo Dec-17 Appropriation Amortization Update Others Mar-18 Accumulated Variation 309,243 22,203 (9,175) 410 (4,603) 318,078 8,835 Charges (207,260) 8,882 43,300 (1,212) - (156,290) 50,970 Overcontracting (100% to 105%) (71,233) 2,489 (3,979) (1,093) - (73,816) (2,583) Others 428 (43,242) (18,197) (338) - (61,349) (61,777) Total 31,178 (9,668) 11,949 (2,233) (4,603) 26,623 (4,555) Volume (MWh) Sales Price (R$/MWh)¹ Asset 1Q18 1Q17 Var 1Q18 1Q17 Var Lajeado 733, , % % Investco 8,366 8, % % Enerpeixe 456, , % % Energest 228, , % % PCH 109, , % % Costa Rica 26,903 24, % % Santa Fé 37,196 69, % % Total HPPs 1,600,575 1,739, % % 1 Total Tariffs of the hydro plants does not consider intragroup eliminations The reduction in energy sales volume from the hydroelectric plants reflects lower contracted energy volumes of Enerpeixe (-80 MWh), Santa Fé (-32 MWh) and Energest (-28 MWh) due to the strategy of seasonal allocation adopted by the Company for 2018, in which there was a greater weighting of energy in 2H18 vis-a-vis 1H18. The growth in average tariffs for energy sales reflects the increase in the sale tariffs in new short- and long-term agreements and the annual readjustment of the bilateral agreements and the Power Purchasing Agreements in the Regulated Contracting Environment ( CCEARs ).

22 The Company ended the quarter with an installed capacity of 2,948 MW, a 4.1% increase when compared to 2017, considering the early commercial operation start-up of the two generator units at São Manoel (58.0 MW each GU). Installed Capacity in MW Pro forma % , , , Sale of Pantanal C. Caldeirão HPP 2016 Energética 2016 Revison of Jari s Installed Capacity 2017 GU 01, 02 and 03 - São Manoel HPP 2017/18 1 Considers the proportional share of Jari (50%), Cachoeira Caldeirão (50%) and São Manoel (33.33%) HPPs. Installed capacity proportional to the stakes in Costa Rica, Lajeado and Enerpeixe HPPs is not considered since data for these plants is fully consolidated in EDP. 1Q18 GU 04 - São Manoel HPP Consolidated Sale of Hydroelectric Generation (GWh) Seasonal Weighting of Hydroelectric Generation (%) 1,740 1,601 26% 27% 25% 26% 24% 25% 24% 23% 1Q Q 2Q 3Q 4Q R$ R$ % 112.6% R$ R$ R$ % 61.8% 69.7% 1Q17 2Q17 3Q17 4Q17 1Q18 1Q17 2Q17 3Q17 4Q17 1Q18 PLD Southeast GSF Maintaining a strategy of portfolio protection given the hydrological scenario, in 2018, the Company acquired 72 averagemw and decontracted 20 averagemw (at Enerpeixe 7MWm, Energest 3MWm and São Manoel 10MWm) with the aim of increasing the decontracted portion of energy ( natural hedge ) of 8.1% 6 (92 averagemw), mitigating future risks relative to the GSF and variations in PLD. The Company concluded the quarter with decontracted energy at 16%. Again, as part of the Company s energy management strategy, the Trading Company has been working in close cooperation with the generators in energy purchase and sale transactions. In this way it operates as an instrument of energy portfolio management, mitigating the Group s hydrological risk and maximizing the result and with the active support of the regulatory area in strategic planning. 6 Includes the stake of 50% in Jari and Cachoeira Caldeirão and 33.3% in São Manoel

23 Consolidated Energy Balance for Hydroelectric Generation in average MW: Free Physical Guarantee GSF Allocated Physical Guarantee Purchase/Short- Term Market CCEE Sale Contracts Items in R$ Thousand or % Hydro Generation 1Q18 1Q17 Var Net Operating Revenue 323, , % Non-Manageable Expenditures (46,968) (29,787) 57.68% Energy Purchased to Resell (24,983) (8,430) % Charges for Usage of Basic Network (21,860) (21,357) 2.36% Other (125) - n.a. Gross Margin 276, , % Manageable Expenditures (60,912) (60,857) 0.09% PMTO (22,244) (22,420) -0.79% Personnel (11,549) (10,486) 10.14% Material (646) (733) % Third-Party Services (8,165) (8,477) -3.68% Provision 1,699 (433) n.a. Other (3,583) (2,291) 56.39% Gains and Losses on Disposal of Property % EBITDA 254, , % EBITDA Margin 79% 82% -4.01% The growth in Gross Margin in R$ 18.0 million reflects the positive impact of secondary energy, the result of an average GSF at 112.6% in conjunction with the average PLD of R$ 196.0/MWh (SE/C-W Submarket) resulting in a gain of R$ 37.8 million in 1Q18 more especially in March when the GSF reached 117.3%. PMTO posted a reduction of 0.8% due to the reversal of contingencies following the reclassification of a fiscal/tax lawsuit at Investco. Consolidated Hydroelectric Generation Gross Margin 1Q18 (R$ million) Net Sales Revenue TEO¹ Tariff GSF/PLD² Impacts Others GM Before Hedge Reimb. from GSF Renegotiation Margin from Sales and Purchases 1) Optimization Energy Tariff, for those participating in the MRE - Energy Reallocation Mechanism; 2)Price for the Settlement of Differences Natural Hedge Revenues Final Gross Margin

24 Asset Volume (MWh) Sales Price (R$/MWh) 1Q18 1Q17 Var 1Q18 1Q17 Var Cachoeira Caldeirão (50%) 143, , % % Jari (50%) 232, , % % São Manoel (33.33%) 191, Total Unconsolidated 568, , % % Total volume of energy sold from unconsolidated assets reported an increase due to the early entry into operations of the first three Generator Units of São Manoel (+192 MWh). Growth in the average tariffs for sale of energy reflects the annual readjustment of the CCEARs. Consolidated Jari Income Statement (R$ Thousand) 1Q18 1Q17 Var Net Operating Revenue 31,363 29, % Non-Manageable Expenditures (5,243) (4,992) 5.0% Gross Margin 26,121 25, % Manageable Expenditures (8,751) (8,871) -1.4% EBITDA 24,276 23, % EBITDA Margin 77.4% 76.8% 0.6 p.p. Net Financial Result (8,330) (11,737) -29.0% Net Income 6,014 2, % Note: Amounts correspond to 50% of Jari Consolidated (ECE and CEJA), EDP Energias do Brasil s stake in the operation. The growth in Gross Margin also reflected the combined effect of the GSF and PLD, following the generation of secondary energy. Net Financial Result reported a reduction of R$ 3,4 million following the amortization of the 2 nd Debenture Issue for CEJA together with lower CDI and TJLP rates in the period. Cachoeira Caldeirão Income Statement (R$ Thousand) 1Q18 1Q17 Var Net Operating Revenue 16,168 15, % Non-Manageable Expenditures (3,228) (4,062) -20.5% Gross Margin 12,940 11, % Manageable Expenditures (7,587) (7,833) -3.1% EBITDA 11,420 9, % EBITDA Margin 70.6% 63.2% 7.4 p.p. Net Financial Result (9,000) (10,431) -13.7% Net Income (2,407) (4,316) -44.2% Note: Amounts correspond to 50% of Cachoeira Calderão, EDP Energias do Brasil s stake in the operation. Growth in Gross Margin also reflects the combined effect of GSF and PLD, originating from the generation of secondary energy in the period. The Financial Result reported a reduction of R$ 1.4 million due to lower CDI and TJLP rates in the period; offset by the increase in outstanding debt with the BNDES Brazilian Development Bank, as well as drawdowns in 2H17.

25 São Manoel Income Statement (R$ Thousand) 1Q18 1Q17 Var Net Operating Revenue 23,148 - n.a. Non-Manageable Expenditures (4,972) - n.a. Gross Margin 18,176 - n.a. Manageable Expenditures (10,737) (1,319) 713.8% EBITDA 16,680 (1,319) n.a. EBITDA Margin 72.1% - n.a. Net Financial Result (10,952) 34 n.a. Net Income (2,325) (848) 174.1% São Manoel HPP ( São Manoel ) (700 MW) is a partnership between EDP Energias do Brasil, CTG and Furnas Centrais Elétrica S.A., each with a one third stake in the project. The plant is located on the middle reaches of the Teles Pires River on the state divide between Mato Grosso and Pará. Operations of all 4 Generator Units have begun ahead of schedule. São Manoel s CCEAR agreement came into effect on April 26, 2018, the starting date of full commercial operations of the number 04 Generator Unit. The energy generated prior to sales to the regulated market was settled in the short-term market. In the first quarter, test operations of the numbers 02 and 03 Generator Units produced the equivalent of 34 averagemw, generating revenue equivalent to R$ 13.4 million and offset against the plant s property, plant and equipment. In the quarter, investments amounted to R$ 74.9 million. Total investment in the project is R$ 3.3 billion (considering monetary restatement and ignoring interest charges). The plant is 99.76% physically complete. In May 2017, 120 average MW was decontracted as part of the strategy of portfolio protection against the impacts of high energy prices in the free market. The total originally contracted was averagemw at the price of R$ /MWh (date line base, December 2017), with annual restatement at the IPCA, effective between May 1, 2018 and December 31, Out of the 120 averagemw decontracted, 90 averagemw was contracted by Trading Companies pertaining to the shareholders in the project, and in the same proportion as their stakes in the plant for the period from May 1, 2018 to December 31, 2038 (maturity date of the BNDES financing), the remaining 30 averagemw being allocated as a hedge. Plant GSF negotiations took place in October, when 100% of the contracted energy (289.5 MW average) was renegotiated on the basis of the SP92 product. Gross Margin reflects the revenue from the anticipated entry into operations of Generator Units 01, 02 and 03 in December 2017 and January and March 2018, respectively. With the entry of the plant into operations, Managerial Expenditures registered an increase due to the booking of Depreciation (+ R$ 7.6 million). The Financial Result increased due to higher outstanding debt with the BNDES. The plant shows an upward trend in operating efficiency with average uptime at 97.5% in the quarter. However, a reduction in the percentage presented is expected during the year, due to the maintenance (occurring every five years) in the Generating Units, scheduled for 2H % 96.9% 97.5% 89.1% 87.9% 88.5% 92.9% 91.6% 92.3% Q18 GU01 GU02 Average TPP