FIXED INCOME INVESTOR PRESENTATION 1 Q 2 0 | R E S U L T S
Visão ISA CTEEP geral Sustainable Value Financial Highlights
IS THE PURE TRANSMISSION COMPANY IN THE SECTOR IN BRAZIL Tran smission Rev en u es ¹ (2019/ 2020 cycle) Total: BRL 37 billion 34% 36% 4% 9% 10% 7% Eletrobras ISA CTEEP TAESA State Grid Alupar Outros Source: ANEEL SIN² is composed of 142 The transmission sector is regulated and Transmission companies are monitored by ANEEL ³ and coordinated thousand km of transmission remunerated by the availability of its lines and serves 98% of the and controlled by ONS 4 assets. There is no demand risk and market no default risk. Notes: ¹ Considers auctions held until December of 2018 | ² Interconnected National System| ³ National Electric Energy Agency | 4 National Operator of the Electric System
ISA CTEEP IE Garanhuns 51% Revenue 2019/2020 cycle BRL 2,579 million Revenue² 2019/2020 cycle R$ 46 million IE Pinheiros 100% IENNE 100% Largest publicy traded pure transmission Revenue 2019/2020 cycle BRL 57 million utility in Brazil Revenue 2019/2020 cycle BRL 46 million IE Serra do Japi 100% ▪ Transmission of 33% of Brazil’s energy Revenue 2019/2020 cycle BRL 58 million IE Madeira IEMG 51% 100% generation and 94% of the energy in IE Itapura Bauru the State of São Paulo 100% Revenue² 2019/2020 cycle BRL 260 million Revenue 2019/2020 cycle BRL 19 million Revenue 2019/2020 cycle BRL 12 million ▪ Benchmark player in costs and quality ▪ Capacity in operation¹ Evrecy 18.6 thousand km of transmission ▪ 100% lines Revenue 2019/2020 cycle BRL 10 million 65.9 thousand MVA of transformation ▪ capacity 126 substations ▪ ▪ ISA CTEEP Revenue 2019/2020 cycle : BRL 3.1 billion 2 IE Sul 100% Revenue 2019/2020 cycle BRL 18 million Nota: ¹ Considers the full capacity of IE Madeira and IE Garanhuns ² 2019/2020 Revenue Cycle proportional to ISA CTEEP’s participation
IE Itaquerê 100% IE Paraguaçu 50% Revenue 2019/2020 cycle BRL 51 million Revenue² 2019/2020 cycle BRL 59 million IE Itapura Lorena 100% Revenue 2019/2020 cycle BRL 11 million Largest publicly traded pure transmission IE Ivaí utility in Brazil 50% IE Aguapeí 100% Revenue² 2019/2020 cycle BRL 147 million ▪ Growth with sustainable value creation Revenue 2019/2020 cycle BRL 59 million IE Tibagi 100% ▪ Construction capacity 100% Revenue 2019/2020 cycle BRL 25 million 7.6 thousand km of transmission lines ▪ IEMG 100% 1.7 thousand MVA of transformation ▪ Revenue auction BRL 33 million capacity IE Aimorés 50% ▪ Organic growth¹: CapEx of BRL180 Revenue² 2019/2020 cycle BRL 40 million million/year with Revenue of BRL50 million/year IE Itaúnas 100% ▪ Greenfield projects: ANEEL capex BRL5 Revenue 2019/2020 cycle BRL 52 million billion with Revenue 2019/2020 cycle of BRL567 million IE Biguaçú 100% Revenue 2019/2020 cycle BRL 40 million Nota: Evrecy 100% ¹ Last 5 years average ² Considers 2019/2020 Revenue Revenue auction BRL 38 million Cycle adjusted to ISA CTEEP’s participation
Corporate Governance Structure Shareholders Ethics and Transparency recognized at ISA and at ISA CTEEP Board of Directors Fiscal Council level 8 effective members, of 5 effective members which 2 are independent and 4 substitute and one is elected by the members Experienced employees Management Human Resources Audit Committee Committee team focused on value creation CEO Rui Chammas 2019 Transparency COO Chief Project Officer CFO and IRO Institutional Relations Trophy from Officer Carlos Ribeiro ANEFAC Alessandro Gregori Filho Rui Chammas Carlos Ribeiro (interim) (interim)
ISA A multilatina company recognized for INTERCONEXIÓN ELÉCTRICA, ▪ Largest high-tension electric the excellence of its operations S.A.E.S.P . transmission network in Latin America Operational: ▪ 46,374 km of transmission lines Colombia América 70% of participation in the Central ▪ 92,600 MVA in power capacity Transmission market in 2019 Under construction : ▪ 7,431 km of transmission lines ▪ 15,482 MVA in power capacity ▪ Businesses in: Peru Brasil 70% of participation in ▪ Energy transmission the Transmission 20% of participation market in 2019 in the Transmission ▪ Highway concessions market in 2019 ▪ Information Technology/Telecom Chile ▪ Controlled by the Colombian 12% of participation in the Transmission market government (51% of shares) in 2019 Bolivia ▪ Market cap: USD 6 billion¹ Argentina Solid Presence in Latin America: 7 countries , 3 sectors , 43 companies Note: ¹On 12/31/2019
ISA CTEEP Sustainable Value Financial Highlights
REMUNERATION FROM ASSET AVAILABILITY Assured Annual Revenue (RAP) - 2019/2020 Cycle¹ BRL 3,585 million Operação e Projetos Integração Regulação Jurídico Crescimento Manutenção Crescimento Subsidiárias Valor Justo Gestão Disciplina Orgânico de Litígios de Capital Eficiência, Qualidade, RAP Segurança Composition of Contract 059 RBSE O&M Contract 059 P E S S O A S New Investments Subsidiaries in Operation Subsidiaries in Construction Note: ¹ Considers revenue proportional to ISA CTEEP’s participation in assets with partnerships
RBSE (BASIC NETWORK OF EXISTING SERVICE) CASH FLOW BOOSTS CASH GENERATION FOR THE NEXT YEARS RBSE Receivables Schedule 1 (BRL million) ▪ RBSE: receivables related to the non depreciated assets in operation before 1,566 May/2000 1,532 1,532 1,532 1,532 1,461 ▪ In April/2017 injunction determined temporary exclusion of Ke 729 1,132 785 785 785 785 750 ▪ In November/2019, the judiciary dismissed some lawsuits, which led to 785 the exclusion of Ke from the financial 785 component, consequently the respective injunctions were no longer effective. 837 785 747 747 747 747 711 ▪ In October of 2019 Bill 4,636/19 that proposes the exchange of Ke to WACC 347 was approved in the House of Mines and Energy Commission. This Bill is in 2017/2018 2018/2019 2019/2020 2020/2021 2021/2022 2022/2023 2023/2024 2024/2025 discussion at the Finance and Taxation Financial Component Economic Component Committee (CFT) and will later follow to 246 253 264 264 264 264 264 264 the CCJC and then to the Upper House. WACC 151 156 163 163 163 163 163 163 PROCEEDINGS 246 253 264 264 264 264 264 264 Ke 246 253 264 264 264 264 264 264 LOWER HOUSE UPPER HOUSE EXECUTIVE SANCTION CME CFT CCJC COMMITTEES PLENARY Note: VETOS ¹ Net of PIS/COFINS. Amounts represent what was established for cycles 2017/2018 (REH ANEEL 2,258), 2018/2019 (REH ANEEL 2,408) and 2019/2020 (REH ANEEL 2,565). Premises for future cycle according to REN ANEEL 762/2017 and based on REH ANEEL 2,565. Regulatory WACC of 6.64%, that will be updated in the tariff review. Asset base is subject to write-offs in the tariff reset process.
FREQ (times) DREQ (minutes) IENS (%) Equivalent Frequency of Interruption Equivalent Duration of Interruption Index of Non-Supplied Energy ISA CTEEP ISA CTEEP ISA CTEEP 0,11 2,67 0,0010% South South South 0,007% 0,07 2,16 Southeast/ Southeast/ Southeast/ 0,0025% 7,06 0,17 Midwest Midwest Midwest 0,0020% 7,69 SIN 0,2 SIN SIN Northeast Northeast Northeast 16,37 0,0056% 0,35 North North North e 0,0031% 12,95 0,55 December 2019 figures Focus in cost efficiency, service quality and operational safety to maximize results
IENNE (100%) OPERATIONAL TL: 710 km Substation: none ASSETS Revenue: BRL 46 million ▪ 18.6 thousand km of IE Garanhuns (51%) transmission lines TL: 633 km Substation: 2,100 MVA ▪ 65.9 thousand MVA of Revenue¹: BRL 46 million power transformation Evrecy (100%) capacity TL: 154 km Substation: 450 MVA IE Madeira (51%) Revenue: BRL 10 million ▪ Revenue (RAP) of BRL3.1 TL: 2.4 thousand km IEMG (100%) Substation: 7.5 MVA million¹ Revenue¹: BRL 260 million TL: 173 km Substation: none IE SUL (100%) Revenue: BRL 19 million TL: 167 km ISA CTEEP IE Pinheiros (100%) Substation: 900 MVA LT: 14.3 thousand km Revenue: BRL 18 million TL: 1 km Substation: 48,800 MVA Substation: 4,200 MVA RAP: R$ 2.6 billion Revenue: BRL 57 million IE Itapura – Bauru Note: ¹ 2019/2020 RAP Cycle weighted by ISA CTEEP’s (100%) Transmission participation IE Serra do Japi (100%) 1 Static Component Line (TL) Substation (Bauru Substation) TL: 137 km Revenue: BRL 12 million In operation Line Entrance Substation: 2,000 MVA Revenue: BRL 58 million
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