Companhia Energética de Minas Gerais SA Q4 FY2024 earnings call

• 2024 was a remarkable year with the highest EBITDA, net profit, and CapEx in Cemig's history, and a AAA rating from Fitch. - The investment program from 2019 to 2028 is BRL59.1 billion, which is 4x the regulatory depreciation. - Focus on the agri business with the Minas three - phase program, and investment in a gas pipeline to the Midwest of Minas Gerais, DG, and transmission. - In IT, a new DNS will be started next year. In logistics, there are regionalization efforts to improve efficiency. - Sustainable achievements include being included in the DJSI for 25 consecutive years, 100% clean energy matrix, planting 1 million trees, etc.

2024 was a historic year for Cemig with the highest EBITDA of BRL11.3 billion, the highest net profit, and the highest annual CapEx in its history. In the Distribution segment, in the fourth quarter of 2024 compared to the same period in 2023, EBITDA increased by 19.2%. There were improvements in operating indicators such as a 8 - hour improvement in rural DEC. In the GT segment, the margins of the trading company were lower in 2024 compared to 2023 due to two main effects: lower margins and non - recurring events from 2023. In the Gasmig segment, there was a reduction in EBITDA and net profit due to fewer big meters for industrial clients, but it is investing in developing a gas pipeline for the Midwest of Minas Gerais.

• Continue the growth program in 2025, build substations, develop networks especially three - phase Is, and focus on improving service quality for the agri business. - Start the new DNS in IT next year. - Continue regionalization in logistics to be closer to clients and improve service quality.

• There is an ongoing discussion regarding the post - employment health care plan, with a court judgment expected next week and ongoing negotiation with unions. - There are possible privatization - related notices received, and Cemig is in communication with the controlling shareholder regarding this.

Q: About the health care plan negotiation and whether there was a privatization notice received; A: Cristiana Maria Fortini Pinto e Silva said there was an ongoing discussion about the health care plan with a court judgment expected next week and open to negotiation with unions. Marco da Camino Ancona Lopez Soligo mentioned ongoing divestment work and Reynaldo Passanezi Filho said Cemig has received privatization - related notices and is in communication with the Economic Development Secretariat.

Q: About post - employment negotiation and energy trading exposure; A: Reynaldo Passanezi Filho said the Company is open to negotiation regarding post - employment and Marcos Vinicius de Castro Lobato said there is an annual exposure of around 800 average megawatts in energy trading with seasonalization, and about 700 average megawatts in the first quarter of 2025 under exposure.