May 15th, 2013

Infrastructure is our business!1Q13 Results

2

Disclaimer

The stand-alone and consolidated financial statements were prepared in accordance with the accounting

principles adopted in Brazil, which include corporation law, the pronouncements, instructions and

interpretations issued by the Accounting Pronouncements Committee (CPC) and the regulations of the

Securities and Exchange Commission of Brazil (CVM), combined with specific legislation issued by the

National Electric Power Agency (ANEEL). As the industry regulator, ANEEL has powers to regulate the

concessions. The results are usually presented in both IFRS and former formats in order to permit

comparisons with other periods. However, the results presented in “Regulatory” format are not audited.

ALUPAR uses the audited results based on the IFRS principles to declare dividends.

The forward-looking statements contained in this document relating to the business outlook, projections of

operational and financial results and the growth prospects of ALUPAR are merely projections, and as such

are based exclusively on management’s expectations for the future of the business. These expectations

depend materially on changes in market conditions and the performance of the Brazilian economy, the

sector and international markets and therefore are subject to change without prior notice.

According to the Offering Commencement Notice published on April 23, 2013, the Company carried out a

public offering for the distribution of Units. Because we are undergoing a stabilization process and

because we did not publish an Offering Conclusion Notice, we are in the quiet period, and the conference

call is being organized solely for the presentation of our 1Q13. results.

3

RS

SC

PR

SP

MG

GO

MT

AC

AM

RR

ROBA

PI

MAPA

AP

TO

CE RN

PE

AL

SE

MS

RJ

ES

DF

PB

Colômbia

Brasil

Chile

Alupar at a GlanceAlupar is the only listed company in Brazil operating in transmission and generation segments

Geographic Footprint of the Assets

Operational Under construction

Portfolio of 27 long-term

concessions, starting to expire

in 2030 (transmission) and

2034 (generation)

Transmission

Generation

Begin Concession End

2000

2001

2001

2002

2002

2004

2004

2005

2005

2004

2006

2007

2005

2008

2009

2010

2010

2009

2012

2012

2004

2004

2006

2006

2010

2011

2012

2030

2031

2031

2032

2032

2034

2034

2035

2035

2034

2036

2037

2038

2039

2040

2040

2039

2042

2042

2034

2034

2041

2041

2047

TypeAsset

Alupar Concession – Transmission and Generation

Today

Lifetime

Lifetime

Transmission

Transmission

Transmission

Transmission

Transmission

Transmission

Transmission

Transmission

Transmission

Transmission

Transmission

Transmission

Transmission

Transmission

Transmission

Transmission

Transmission

Transmission

Transmission

Transmission

Generation

Generation

Generation

Generation

Generation

Generation

Generation

Transchile

Operating Under Construction

2045

4

Alupar is a holding Company with a portfolio of 27 long-term concessions

V 50.01%

T 35.01%

100%

50.01%V 50.02%

T 50.02%

V 100%

T 50.01%

70.02%

V 50.01%

T 35.01%

99.70%

41.00%

41.00%

41.00%

Transminas

Lavrinhas

45.01%

51.00%

V 50.02%

T 50.02%

51.00%

80.00%15.00% 80.00% 20.00%

Transirapé

Transleste

Rio Claro

Ijuí

Queluz

STC

EBTE

Transudeste

Lumitrans

ETES

50.01%

V 100%

T 50.01%

STN ENTEEATE

ECTE

ERTE

ETEP

ETEM62.06%

ETVG

ESDE Ferreira Gomes100%

TNE51.00%

Risaralda99.86%

100%

ETSE100%

46.00%

TME

51.00%

Energia dos Ventos

51.00%

Transmission

Generation

Under Construction

Transchile

Company’s Assets

TBE

TBE

TBE

TBE

TBE TBE TBE

TBE TBE

TBE

TBE TBE group’s assets

5

Successful Track-Record

Transmission lines Extension (Km) Generation capacity (MW)

24%

CAGR

02A-12A

46%

CAGR

10A-16E

0

576

1.500 1.679

2.293

2.834

3.285 3.392 3.392 3.592

4.950 4.950 4.950 4.950

5.665 5.665

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

68

179 179 179 179

459

663

Since 2000, Alupar is one of the main transmission bidding winner, with 22.6% of all auctioned lines, in terms of RAP. It is

also one of the companies with the fastest growth in generation segment.

Financial Discipline and focus on value creation

Technical Know-how and engineering

Develops all project phases: since conception,

construction, start-up and operation

6

Alupar’s Business Culture

Financial Discipline

Responsible and Sustainable Growth

Efficient Capital Structure

Corporate Governance and Transparency

Skilled and Motivated Team

7

Material Fact – 28th March, 2013

Credit Rating upgraded by Fitch Rating Services

From AA (bra) to AA+ (bra) with stable perspective

“The upgrade reflects the sustainable growth of Alupar business and its ability to manage its consolidated

financial profile, in line with the new rating classification, even considering the Company’s growth

prospect for next 2 years. The moderate consolidated financial leverage to be achieved it is consistent

with the low risk profile of its business, which it is characterized by foreseeable operating cash

generation... ...The Company’s capacity to develop projects and turn them into operational assets was

also considered in the rating upgrade”

Free translation from Fitch Rating Report – available at Alupar’s IR website

Alupar – Corporate AA+(bra) Alupar – Corporate (Brazilian National Scale) Aa2.brAlupar – Corporate (Global Scale) Ba1

Moody’s Investors Service

8

Notice to the Market – 9th, may 2013

Transirapé reinforcement authorization

ConcessionExtension

50% RAP

ReductionRAP RBNI

New

RAP + RBNIGrant End

March - 2005 March - 2035 65 Km Yes R$ 16.8 mm R$ 5.5 mm R$ 22.1mm

Line Characteristic

9

Notice to the Market – 9th May, 2013

SHPP Morro Azul (Colombia) change in Environmental License

SHPP

Effective

Installed

Capacity

Average

Generation

Morro Azul 16 MW 84,096MWh

Morro Azul Project Characteristics

RS

SC

PR

SP

MG

GO

MT

AC

AM

RR

ROBA

PI

MAPA

AP

TO

CE RN

PE

AL

SE

MS

RJ

ES

DF

PB

Colômbia

Brasil

Chile

SHPPs

Effective

Installed

Capacity

Average

Generation

Morro Azul 19.9 MW 120,947MWh

Morro Azul Project Characteristics

OLD NEW

10

0,00

10,00

20,00

30,00

40,00

50,00

60,00

70,00

80,00

90,00

Jan Fev Mar Abr Mai Jun Jul Ago Set Out Nov Dez

2011 2012 2013

Energy Price Hike

0

50

100

150

200

250

300

350

400

450

jan/

10

abr/

10

jul/

10

out/

10

jan/

11

abr/

11

jul/

11

out/

11

jan/

12

abr/

12

jul/

12

out/

12

jan/

13

abr/

13

SE/CO Regions Reservoirs - %

Energy Spot Prices – R$

Financial Highlights

12

Financial Highlights

R$ mn 1Q13 1Q12 Var. Var.% R$ mn 1Q13 1Q12 Var. Var.%

Adjusted Net Revenue 281.1 265.9 15.2 5.7% Net Revenue 269.5 249.7 19.8 7.9%

EBITDA (CVM 527) 227.2 225.3 1.9 0.9% EBITDA (CVM 527) 212.4 206.1 6.4 3.1%

Adjusted EBITDA Margin 80.8% 84.7% -3.9 p.p EBITDA Margin 78.8% 82.5% -3.7 p.p

EBITDA (Excluding GSF effects) 240.8 EBITDA (Excluding GSF effects) 226.0

EBITDA Margin (Excluding GSF effects) 87.2% EBITDA Margin (Excluding GSF effects) 85.4%

Financial Result -51.9 -52.5 0.6 -1.2% Financial Result -51.9 -52.5 0.7 -1.3%

Consolidated Net Income 147.1 141.5 5.6 3.9% Consolidated Net Income 102.5 99.2 3.2 3.2%

Subsidiaries' Minority Interest 83.1 78.0 5.1 6.5% Subsidiaries' Minority Interest 55.3 57.6 -2.3 -3.9%

Net Income - Alupar 64.0 63.6 0.5 0.8% Net Income - Alupar 47.1 41.7 5.5 13.1%

Net Income - Alupar (Excluding GSF) 69.2 Net Income - Alupar (Excluding GSF) 52.3

Net Debt* 2.751.6 2.461.7 289.9 11.8% Net Debt* 2.751.6 2.461.7 289.9 11.8%

Net Debt/EBITDA* 3.0 2.7 0.3 10.8% Net Debt/EBITDA* 3.2 3.0 0.3 8.4%

** Including Securities from Noncurrent Assets

**Annualized EBITDA

Key Indicators "CORPORATE (IFRS)" Key Indicators "REGULATORY"

13

Consolidated Financial Highlights

225,3 227,2

240,8

13,6

1T12 1T13 Ajuste GSF 1T13Ajustado

EBITDA Formation (R$ million)

Corporate Law Information

281,1265,9

0,0

50,0

100,0

150,0

200,0

250,0

300,0

350,0

400,0

1T131T12

Adjusted Net Income (R$ milion)

Regulatory Information

269,5249,7

0,0

50,0

100,0

150,0

200,0

250,0

300,0

1T131T12

(Net Reveue (R$ million)

206,1 212,4 226,0

13,6

1T12 1T13 Ajuste GSF 1T13Ajustado

EBITDA (R$ million)

41,747,1

52,3

5,2

1T12 1T13 Ajuste GSF 1T13Ajustado

Net Income (R$ million)

63,6 64,0 69,2

5,2

1T12 1T13 Ajuste GSF 1T13Ajustado

Net Income (R$ million)

14

Transmission Highlights

R$ mm 1TQ3 1Q12 Var. Var.% R$ mm 1Q13 1Q12 Var. Var.%

Adjusted Net Revenue 255.9 242.2 13.7 5.7% Net Revenue 239.2 221.7 17.5 7.9%

Adjusted Operating Costs* -16.3 -14.6 -1.7 11.7% Operating Costs -16.3 -14.4 -1.8 12.7%

Depreciation and Amortization -1.4 -0.3 -1.0 297.9% Depreciation and Amortization -27.8 -26.4 -1.4 5.1%

Operating Expenses -8.2 -9.1 0.9 -10.0% Operating Expenses -8.1 -9.1 0.9 -10.2%

EBITDA (CVM 527) 231.5 218.6 12.9 5.9% EBITDA (CVM 527) 214.8 198.2 16.6 8.4%

Adjusted EBITDA Margin 90.5% 90.2% 0.2 p.p. EBITDA Margin 89.8% 89.4% 0.4 p.p.

Financial Result -26.6 -33.5 6.9 -20.5% Financial Result -26.6 -33.5 6.9 -20.6%

Net Income 183.2 161.3 21.9 13.6% Net Income 134.8 115.5 19.4 16.8%

Net Debt** 1,309.5 1,397.1 -87.6 -6.3% Net Debt** 1,309.5 1,397.1 -87.6 -6.3%

Net Debt / EBITDA*** 1.4 1.6 -0.2 -11.5% Net Debt / EBITDA*** 1.5 1.8 -0.2 -13.5%

*Adjusted Operating Costs: Excluding infrastructure cost

** Including Securities from Noncurrent Assets

*** Annualized EBITDA

Key Indicators "CORPORATE (IFRS)" Key Indicators "REGULATORY"

15

Transmission Financial Highlights

Corporate Law Information

Regulatory Information

255,9242,2

0,0

50,0

100,0

150,0

200,0

250,0

300,0

1T131T12

Adjusted Net Revenue (R$ million)

231,5218,6

90,5%90,2%

-120,0%

-70,0%

-20,0%

30,0%

80,0%

0,0

200,0

1T131T12

EBITDA (R$ million) e Margin (%)

183,2

161,3

0,0

50,0

100,0

150,0

200,0

250,0

1T131T12

Net Income (R$ million)

239,2221,7

0,0

50,0

100,0

150,0

200,0

250,0

300,0

1T131T12

Net Revenue (R$ million)

214,8198,2

89,8%89,4%

0,0%

50,0%

100,0%

150,0%

200,0%

250,0%

300,0%

350,0%

400,0%

450,0%

500,0% 0,0

200,0

1T131T12

EBITDA (R$ million) e Margin (%)

134,8

115,5

0,0

50,0

100,0

150,0

200,0

1T131T12

Net Income (R$ million)

16

Generation Financial Highlights

R$ mm 1TQ3 1Q12 Var. Var.%

Net Revenue 45.6 38.5 7.1 18.5%

Operating Costs -7.4 -2.3 5.1 215.1%

Depreciation and Amortization -8.3 -7.6 0.7 9.9%

Cost of Energy Purchase -18.6 -5.5 13.1 237.2%

Operating Expenses -2.9 -8.9 6.0 -67.6%

EBITDA (CVM 527) 16.7 21.7 -5.0 -23.0%

EBITDA Margin 36.7% 56.4% -19.8 p.p

EBITDA (Ex-GSF) 30.3

EBITDA Margin (Ex-GSF) 74.5%

Financial Result -11.6 -14.2 2.6 -18.4%

Net Loss -3.8 -0.6 -3.3 -

Net Income (Excluding GSF ) 8.2

Net Debt 1.145.5 879.2 262.3 29.8%

Net Debt / EBITDA* 9.2 7.6 1.6 21.1%

Net Debt / EBITDA* (Excluding GSF) 5.0

* Anualized EBITDA and Net Debt considering only operational companies

Key Indicators "CORPORATE (IFRS)" - Generation

17

Generation Highlights – Corporate law

21,716,7

30,3

13,6

1T12 1T13 Ajuste GSF 1T13Ajustado

EBITDA (R$ million)

45,638,5

1T131T12

Net Revenue (R$ milhões)

(0,6)

(3,8)

8,2

12,0

1T12 1T13 Ajuste GSF 1T13Ajustado

Net Income (R$ million)

18

Indebtedness

19

Indebtedness

May, 15th , 2013

Infraestructure is our business!

Thanks!

IR Contacts

Marcelo Costa – IRO

IR Specialist

Guilherme Villani

Luiz Coimbra

Tel.: (011) 2184-9600

ri@alupar.com.br