Highlights. Results. Indebtedness. Private Capital Increase
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2 Disclaimer - This presentation may include forward-looking statements of future events or results according to regulations of the Brazilian and international securities and exchange commissions. These statements are based on certain assumptions and analysis by the company that reflect its experience, the economic environment and future market conditions and expected events, many of which are beyond the control of the company. Important factors that may lead to significant differences between the actual results and the statements of expectations about future events or results include the company s business strategy, Brazilian and international economic conditions, technology, financial strategy, public service industry developments, hydrological conditions, financial market conditions, uncertainty of the results of future operations, plans, objectives, expectations and intentions, among others, Considering these factors, the actual results of the company may be significantly different from those shown or implicit in the statement of expectations about future events or results. - The information and opinions contained in this presentation should not be understood as a recommendation to potential investors and no investment decision is to be based on the veracity, current events or completeness of this information or these opinions. No advisors to the company or parties related to them or their representatives shall have any responsibility for whatever losses that may result from the use or contents of this presentation. - This material includes forward-looking statements subject to risks and uncertainties, which are based on current expectations and projections about future events and trends that may affect the company s business. These statements include projections of economic growth and energy demand and supply, as well as information about the competitive position, the regulatory environment, potential opportunities for growth and other matters. Several factors may adversely affect the estimates and assumptions on which these statements are based.
3 3 Agenda Highlights Results Indebtedness Private Capital Increase
4 4 Quarter Highlights Generation C. Caldeirão HPP: Completion of 97%. DCO 1 under process; S. Manoel HPP: Completion of 49%; Foco nas Consolidation of Pecém TPP I (90% of availability + R$ 201 million in EBITDA); Renegotiation of the hydrological risk (+ R$ 10.8 million); Less impact of GSF and spot price (-R$ 9.2 million in 1Q16 Vs -R$ million in 1Q15). Distribution Volume of distributed energy: -5% in EDP Bandeirante and -11% in EDP Escelsa; Non technical losses in low voltage: p.p in EDP Escelsa and p.p in EDP Bandeirante Vs 4Q15; Impact of over contracting in EDP Bandeirante (-R$ 15.5 million). Energy management and EDP Comercializadora Stable volume (+1. 7%); Decrease of purchase and sale average price (-29% and -26%, respectively). Financial discipline Increase of 23% on PMTO, excluding Pecém I and PDD would be 7.3%; Net debt/ebitda: 1.4x; Issuances : R$ 220 million in distribution, being that R$ 120 million in EDP Escelsa and R$ 100 millions in EDP Bandeirante. Conclusion of the sale of Pantanal Energética Cash impact: R$ 355 million Book gain: R$ 278 million 1) Declaration of Commercial Operation
5 5 EBITDA and Net Income 1Q16 EBITDA (R$ million) +97% EBITDA 1Q15 Gross Margin PMTO Gain on Asset Sale Others** EBITDA 1Q16 Nota: ** Gains and losses from the decommissioning and sale of goods and fair value of the financial assets to be indemnified. Net income (R$ million) +261% Net Income 1Q15 EBITDA Dep & Amort Result from corporate participation Financial Result Income tax and social contribution Attributable to non-controlling shareholders Net Income 1Q16
6 6 Prudent Debt Level Net Debt/EBITDA Debt maturity profile (R$/million) 1, x Net Debt Net Debt/EBITDA 1.8x 1.6x 1.7x 1.4x 4,877 4,825 5,036 4, x 1.3x 0.8x 1, ,242 1, , x 0 mar/15 jun/15 sep/15 set/15 dez/15 dec/15 mar/16-0.2x Cash After 2020 Issuances in 2016 YTD Discos Debentures R$ 220 mn. Up Feb. of 2020 CDI % a.a São Manoel Debentures R$ 532 mn. Up Dec. of % of CDI a.a Holding Debentures R$ 250 mn. Up Apr. of 2022 IPCA % Energest Debentures R$ 90 mn. Up Apr. of 2020 CDI % Liquidity guaranteed in a restricted credit market.
7 7 Private Capital Increase Summary Issuer EDP Energias do Brasil S.A. Issuance Price Volume R$ per common share Average price (average of the daily closing prices weighted average) of shares for the last 30 trading sessions of BM&FBovespa S.A. prior to the date of the Board of Directors meeting on May 2 nd, 2016, with a discount of 6.0% Minimum of 66,639,330 common shares and maximum of 130,434,782 common shares Minimum of R$ 766,352, and maximum of R$1,499,999, Preemptive Rights The shareholders of the Company shall have preemptive rights to subscribe new shares to be issued in proportion to their shareholdings in the Company pursuant to art. 171 of the Corporation Law Controlling Shareholders Commitment Use of Proceeds Cut-Off Date of Preemptive Rights The controlling shareholders commit themselves to subscribe to its share of the capital increase and indicate that they intend to subscribe to the potential unsubscribed shares of the minority shareholders in the second round of leftovers Strengthen Company's capital structure, strengthening its cash position to meet the medium and long-term capital needs for development of its activities; operating and investment Strengthen Company's liquidity and reduce leverage May 4 th, 2016 Deadline for Exercise of Preemptive Rights May 5 th, 2016 June 3 rd, 2016 Delivery Date of Shares to Subscribers July 11 th, 2016
8 8 EDP Brasil Leverage The capital increase of R$ 1.5 billion will reduce EDP Brazil leverage to historical levels... EDP Brasil: Net Debt (R$ mn) and Net Debt / EBITDA LTM¹ (x) Average Selic (% a.a.) 8.94% 8.03% 10.81% 13.31% 14.25% 3.25x 3.50x 1.64x 1.68x 2.46x 2.16x 1.47x 4,684 (1,500) 5,036 3,709 2,335 2,532 3, Q16 Net Debt Capital Increase Net Debt / EBITDA (x) Net Debt / EBITDA (x) Covenants (x) After Capital Increase of R$ 1.5 bn... providing greater flexibility for investments and / or debt prepayment², besides EPS improvement Notes: 1 Considers adjusted EBITDA by excluding gains on disposal / acquisition of investments 2 The Group s average cost of debt considering holding and operating companies as of December 2015 is 12.85% pa
9 9 Capital Increase Indicative Timeline May June July Capital Increase Process Notice to Shareholders: Capital Increase Process 3-May Cut-off Date to Participate in the Capital Raising 4-May Preemptive Rights Exercise Period 30 days 5-May - 3-Jun Notice to Shareholders: Leftovers 9-Jun Leftovers Subscription Period (1 st Round) Notice to Shareholders (End of the 1 st Round and Beginning of the 2 nd Round) 10-Jun - 16-Jun 22-Jun Leftovers Subscription Period (2 nd Round) 23-Jun 29-Jun Deadline for Subscription and Financial Settlement 3-Jun 16-Jun 29-Jun Notice to Shareholders: End of the 2 nd Round and Calling of Board Meeting 5-Jul Physical Settlement of Shares (delivery of shares to subscribers) 11-Jul
10 Investor Relations Miguel Setas - IRD Maytê Souza Dantas de Albuquerque Marília Barbosa Nogueira Anna Luisa Bacellar Maria Rodrigues Amanda Cerchiaro Pecorari ri@edpbr.com.br Phone: +55 (11)
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