Rio de Janeiro, November 09, 2012 BM&FBOVESPA: LIGT3 OTC: LGSXY Total shares: 203,934,060 shares Free Float:

97,629,463 shares (47.87%) Market value (11/08/12): R$ 4,497 million IR Contacts Joo Batista Zolini Carneiro Financial Officer and Investor Relations Gustavo Werneck IR Manager Phone: +55 (21) 2211-2682 Fax: +55 (21) 2211-2787 www.light.com.br Email: ri@light.com.br Teleconference: Date: 11/12/2012 Time: 4 p.m. (Brazil) 3 p.m. (US ET) Telephones: Brazil: +55 (11) 4688-6361 USA: +1 (888) 700 0802 Other countries: +1 (786) 924 6977 Simultaneous translation into English: Webcast: www.light.com.br (Portuguese and English)

Consumption grows by 3.5% and net income reached R $ 84 million in the quarter
Total energy consumption in the 3Q12 was 3.5% higher than the same quarter in the previous year, plus 5,486 GWh, influenced by the commercial segment increased consumption, with a 13.3% increase. Consolidated Net Revenue for the quarter, not considering the construction revenue, totaled R$ 1,577.7 million, 10.6% above the revenue recorded in the 3Q11. All of the Company's business segments presented increased revenue, with highlights to the service and commercialization activity, which recorded a 103.4% increase;1 Consolidated EBITDA for the quarter was R$ 269.5 million, 12.4% higher than the one recorded in the 3Q11, influenced by the good performance of the generation segment. The EBITDA margin for the quarter was 17.1% compared with the 16.8% in the 3Q11. Net profit for the quarter was R$ 84.1 million, In contrast to a loss of R $ 1.6 million in 3Q11; Collection rate over the last 12 months totaled 98.3% of the income, 1.1 p.p. above the figure recorded in September 2011. Non-technical losses over the last 12 months totaled 43.1%, calculated on the low voltage invoiced market (Aneel criterion), representing a 0.9 p.p. increase compared with June 2012, impacted by the change to the criterion for treating long-term defaulting clients; The Company ended the month of September with net debt in the amount of R$ 3,621.6 million, a 3.0% increase compared with June 2012. The Net Debt/EBITDA leverage index was 2.8x.
Operational Highlights (GWh) Grid Load* Billed Energy - Captive Market 1 Consumption in the concession area 1 Transported Energy - TUSD Sold Energy - Generation Commercializated Energy (Esc o) Financial Highlights (R$ MN) Net Revenue** EBITDA EBITDA Margin** Net Inc ome Net Debt***
* Captive market + losses + network use ** Does not consider construction revenue *** Financial Debt - Cash

3Q12 8,501 4,645 5,486 840 1,282 518 1,578 269 17.1% 112 3,631

3Q11 Var. % 8,077 5.3% 4,559 1.9% 5,299 3.5% 1,151 -27.0% 1,306 -1.8% 423 22.4% 1,426 -100.0% 240 12.4% 16.8% -2 3,144 15.5%

9M12 26,784 14,940 17,419 2,479 4,099 1,305 4,980 959 19.3% 292 3,631

9M11 Var. % 26,267 2.0% 14,972 -0.2% 17,259 0.9% 3,530 -29.8% 4,135 -0.9% 1,186 10.0% 4,573 -100.0% 916 4.8% 20.0% 210 39.1% 3,144 15.5%

With the purpose of preserving the comparability with the market ratified by Aneel in the Rate Review process, the energy invoiced to free client CSN was not taken into consideration, given the then planned exit of this client to the Basic Grid. CSN's energy consumption amounted to 414 GWh in the 3Q12 and 383 GWh in the 3Q11.

Table of Contents Operating Performance................................................................................... 4 Distribution ................................................................................................ 4 Energy Balance ..................................................................................... 7 Electric Energy Loss ............................................................................... 8 Communities ........................................................................................ 9 Collection ............................................................................................10 Operating Quality .................................................................................11 Generation ................................................................................................12 Commercialization and Services ...................................................................12 Financial Performance ...................................................................................13 Net Revenue .............................................................................................13 Consolidated ........................................................................................13 Distribution .........................................................................................14 Generation ..........................................................................................14 Commercialization and Services .............................................................14 Costs and Expenses ...................................................................................15 Consolidated ........................................................................................15 Distribution .........................................................................................15 Generation ..........................................................................................18 Commercialization and Services .............................................................18 EBITDA.....................................................................................................19 Consolidated ........................................................................................19 Distribution .........................................................................................20 Generation ..........................................................................................20 Commercialization and Services .............................................................21 Consolidated Financial Result ......................................................................22 Indebtedness ............................................................................................23 Net income ...............................................................................................25 CAPEX ......................................................................................................26 Generation Expansion Projects ...............................................................26 Cash Flow .................................................................................................29 Corporate Governance ..................................................................................30 Capital Market ..............................................................................................31 Dividends .................................................................................................33 Recent Events ..............................................................................................34

Release Segmentation Light S.A. is a holding that controls subsidiaries and affiliated companies mainly participating in three business segments: energy distribution, energy generation, and energy commercialization/services. In order to increase the transparency of its results and provide for an improved analysis by the investors, Light also presents its results in a segmented manner. This is the Company's organizational structure in September 2012:

Light S.A. (Holding)

100% Light Servios de Eletricidade S.A.

100% Light Energia S.A.

51% Lightger S.A.

100% Itaocara Energia Ltda.

25.5% Amaznia Energia S.A.

100% Light Esco Prestao de Servios S.A.

100% Lightcom
Comercializadora de Energia S.A.

100% Light Solues em Eletricidade Ltda.

100% Instituto Light

51% Axxiom Solues Tecnolgicas S.A.

20% CR Zongshen E-Power Fabricadora de Veculos Ltda.

Renova Energia S.A. 22.03%

Central Elica Fontainha Ltda. 100%

Central Elica So Judas TadeuLtda. 100%

Norte Energia S.A. 9.77%

EBL Cia. de Eficincia Energtica S.A 33%

Guanhes Energia S.A. 51%

Distribution

Generation

Commercialization and Service

Institutional

System

Electric Vehicles

Operating Performance
Distribution

TOTAL ENERGY CONSUMPTION (GWh) (CAPTIVE + FREE) - QUARTER

3.5%

5,299 -4.3% 13.3% 740

5,486 840

1,882

1,801

1,807 1.7% 984 614 370 1,440 1,627 1,595 155 180 854 45 810

4.6%

968 541 427

894 47 847

4,559

4,645

3Q11

3Q12

3Q11

3Q12

3Q11

3Q12

3Q11

3Q12 Others

3Q11

3Q12 Total

Residential

Industrial

Com m ercial

Captive

Free

Total energy consumption in Light SESAs concession area (captive clients + free client transportation2) in the 3Q12 was 5,486 GWh, which represents a 3.5% increase in relation to the same period in 2011, mainly influenced by the increased consumption recorded in the commercial segment. Given the energy consumed by free client CNS, the total consumption in the 3Q12 was 5,900 GWh compared with the 5,683 GWh recorded in the 3Q11. As for the residential segment, the consumption totaled 1,801 GWh in this quarter, accounting for 32.8% of the total market consumption, with a 4.3% retraction compared with the 3Q11. Said variation mainly derives from two combined effects: (i) the action for terminating contractual relationships with long-term defaulting clients and (ii) the reclassification of condominium installation as clients of the residential segment to the commercial class, by virtue of Aneel's resolution. Without taking these impacts into consideration, the residential class consumption retraction would be 0.1%. The number of residential clients decreased by 3.7%, totaling 3,665 thousand invoiced clients in September 2012, with an average monthly consumption of 163.3 kWh in the 3Q12, compared with 165.0 kWh in the 3Q11.

With the purpose of preserving the comparability with the market ratified by Aneel in the Rate Review process, the energy invoiced to free client CSN was not taken into consideration, given the then planned exit of this client to the Basic Grid. CSN's energy consumption amounted to 414 GWh in the 3Q12 and 383 GWh in the 3Q11.

The industrial client total consumption was 984 GWh, with a 17.9% participation in the total market, recording a 1.7% increase in relation to the third quarter of 2011. Twelve installations from the captive market have been migrated to the free market in this segment, which accounted for a 73 GWh consumption in this quarter. The commercial segment, which represented a 32.9% participation in the total consumption, consumed 1,807 GWh in this quarter, recording a 13.3% increase in relation to the same period in 2011. Without taking the condominium installation reclassification into consideration, the consumption increase for this segment would be 8.3%. In the 3Q12, the free market was increased by 23 installations that consumed as captive clients in the 3Q11. Such migrations corresponded to a 13 GWh increase in the free market for the quarter. In relation to the other classes, which represented 16.3% of the total market, there has been a 4.6% consumption increase compared with the third quarter of 2011. The rural, public power and public utility classes, with total market representativeness corresponding to 0.2%, 6.5% and 5.9%, respectively, recorded a 0.6% decrease, a 7.3% increase, and a 1.7% increase, respectively, in relation to the 3Q11. As provided by Aneel's Resolution 414, Light has changed the criterion through which the defaulting clients will be treated, with the action of terminating contractual relationships with long-term defaulting clients. By September, 170 thousand clients located in areas where traditional collection actions are not effective had been suspended. Such measure resulted in a reduction to the invoiced consumption in the approximate amount of 60 GWh for the 3Q12, which is also reflected in the energy loss indicator, in
TOTAL ENERGY CONSUMPTION (GWh) (CAPTIVE + FREE) - 9 MONTHS

0.9%

17,259 2,287

17,419 2,479

-4.6% 6,412

7.6%

6,117 5,216

-0.2%

492

5,611 551

2.4%

14,972

14,940

2,934 1,655 1,279

2,928 1,784 1,144 4,724 5,061

2,697 140 2,558

2,762 144 2,618

9M11

9M12

9M11

9M12

9M11

9M12

9M11

9M12

9M11 Total

9M12

Residential

Industrial

Commercial

Others

Captive

Free

spite of not causing an adverse impact in the cash generation. Considering the consumption that has not been invoiced given the criterion change, the total energy consumption increase in the concession area would be 4.7% compared with the third quarter of 2011. Total energy consumption in Light SESA concession area (captive clients + free client transportation3) in the 9M12 was 17,419 GWh, which represents a 0.9% increase in relation to the same period in 2011. Said result has also been influenced by the suspension of long-term defaulting clients, with a 163 GWh decrease impact on the invoiced consumption for the 9M12. Without the effect of this suspension, the consumption would record a 1.9% increase between the periods. Given the energy consumed by free clients CNS and CSA (the latter, only for the 1Q11), the total consumption in the 9M12 was 18,587 GWh compared with the 18,611 GWh recorded in the 9M11. The residential segment, with a 6,117 GWh increase over the last nine months, presented a 4.6% retraction compared with the same period of the previous year. Such performance is mainly a result of the impact of the actions for contractual termination of long-term defaulting clients, and reclassification of property condominiums to the commercial class. Without such actions, the residential consumption would present a 1.3% retraction. The average monthly consumption decreased from 188.5 kWh in the 9M11 to 180.4 kWh for the same period in 2012. In the 9M12, industrial clients' total consumption was 2,928 GWh, presenting a 0.2% decrease in relation to the same period in 2011. Between both periods, 11 clients have been migrated to the free market. These clients totaled a 125 GWh consumption in the 9M12. On the other hand, a client with an average monthly consumption of 1.5 GWH migrated from the free market to the captive market in June this year. The commercial class clients consumed 5,611 GWh, which represents 32.2% of the market total consumption, with highlights to the activities of retail, services for buildings, and human care activities, with increase of 3.4%, 33.3% and 4.3%, and respective participation of 22.7%, 12.5% and 4.2%.

3 By reason of preserving the comparability with the market ratified by Aneel in the Rate Review process, the energy invoiced to the following free clients was not considered: CSN and CSA, given the then considered exit of these clients to the Basic Grid. The energy consumption of these clients totaled 1,168 GWh in the 9M12 (CSN only) and 1,352 GWH in the 9M11 (CSN + CSA)

Energy Balance
DISTRIBUTION ENERGETIC BALANCE - GWh Position: January - September 2012

PROINFA 390.3 CCEAR Light Energia 216.5 ITAIPU (CCEE) 4,010.5 AUCTIONS (CCEE) 11,996.0 NORTE FLU (CCEE) 4,768.3 OTHERS(*) (CCEE) 62.5 Basic netw. losses Adjustment 412.6 13.9 Billed Energy 14,940.4

Residential 6,117.5 Industrial 1,144.2 Commercial 5,060.6 Losses + Non Billed Energy 6,077.2 Others 2,618.2

Own load Light 21,017.6 Required E. (CCEE) 21,444.1

(*) Others = Purchase in Spot - Sale in Spot. Note: 1) At Light S.A., there is intercompany power purchase/sale elimination

2) Power purchase data as of 10/08/2012 (subject to change)

Energy Balance (GWh) = Grid Load - Energy transported to utilities - Energy transported to free customers* = Own Load - Captive market consumption Low Voltage Market Medium Voltage Market - Losses + Non Billed Energy
*Including CSN (in 1Q11) and CSA

3Q12 8,501 741 1,285 6,475 4,645 3,032 1,613 1,830

3Q11 8,077 754 1,151 6,172 4,559 2,942 1,617 1,613

Var.% 5.3% -1.7% 11.6% 4.9% 1.9% 3.1% -0.2% 13.5%

9M12 26,784 2,054 3,712 21,018 14,940 9,856 5,085 6,077

9M11 26,267 2,234 3,530 20,503 14,972 9,838 5,134 5,531

Var.% 2.0% -8.0% 5.1% 2.5% -0.2% 0.2% -1.0% 9.9%

Electric Energy Loss Light SESA's total losses amounted to 8,047 GWh, or 22.7% on the grid load over the 12 months ended September 2012, representing a 1.2 p.p. and a 0.4 p.p. increase in relation to the indexes recorded in
7,627 21.5%

Light Losses Evolution 12 months

7,838 22.3% 15.6% 8,047 22.7%

7,582 21.7%

7,665 22.0%

September 2011 and June 2012, respectively. On the same period the non-technical losses totaled 5,615 GWh, which corresponds to 43.1% calculated on the energy invoiced in the low voltage market (Aneel criterion), or 15.8% on the grid load, presenting a 0.9 p.p. increase in relation to the losses recorded in June 2012. The non-technical loss index increase on the low voltage

15.0%

15.0%

15.3%

15.8%

Sep-11
Losses (GWh)

Dec-11

Mar-12

Jun-12

Sep-12

Losses / Grid Load %

Non-Technical Losses % Grid Lo

Non tecnical losses / Low Voltage market 12 months

5,615 43.1% 42.2% 41.2% 40.7% 40.4%

5,299

5,247

5,316

5,457

market reflects the action initiated early this year regarding the termination of contracts with long-term defaulting clients, located in areas where traditional
Sep-11

Dec-11

Mar-12

Jun-12

Sep-12

Losses (GWh)

Non-Technical Losses % Low Voltage Mkt

collection actions are not effective, according to Aneel's Resolution 414, without affecting, however, the cash generation. In the scope of the new technology program for loss reduction, the installation rhythm increased this year, reaching a total of 283 thousand installed electronic meters and 270 thousand clients with shielded grid in 2012. According to the plan for 2012, the year will end with a total of 318 thousand installed electronic meters.
Sep-11 Sep-12 180 283

Electronic Meters Installed (thousand units)

57.2%

With regard to the conventional processes of energy recovery, such as the debit negotiation for proved fraudulent clients, the processes have resulted in the amount of 92.8 GWh of energy recovered in the first nine months of 2012, 31.0% below the amount recovered in the same period in the previous year. The fraud
Recovered Energy (GW)
134.3

-31.0%

92.8

regularizations totaled 38,372 normalized clients for the year, an amount that is 31.7% smaller than the amount for the same period in the previous year. In spite of the decrease in the energy recovery and client normalization indexes, the new strategy adopted for inspections has
9M11 9M12

increased the incorporation of energy to 90.3 GWh, which represents a 20.2% increase, reflecting the improved efficiency of normalizations and inspections.

Energy Incorporation (GW)

90.3 75.1

Normalized Costumers

56,204

20.2%

-31.7%
38,372

9M11

9M12

9M11

9M12

Light has been investing in a new approach for fighting losses and defaults - [rea de Perda Zero APZ] - which consists in forming small areas containing 10 to 20 thousand clients; the operations in each area will be performed by a contracted company exclusively focused in the improvement of loss and default indicators. By the end of 2012, 12 APZs will have been installed, and this number will amount to 30 in 2013, covering a total of approximately 400 thousand clients. This project is going to be commercially called Light Legal. Communities The quality improvement and loss reduction program in the communities continues to be one of the Company's focuses, and it has been achieving good results. Since the beginning of the program, the Company has achieved the mark of 64,719 clients who are being serviced with the new grid and

meters.In 2012, until september, 11,088refrigerators and 244,484 lamps were changed by the energy efficiency program. With regard to the power grid, 310 kilometers of grid were replaced by a more robust and shielded grid, thus avoiding theft and power outage. The Company already operates across fourteen communities, four of which have been initiated this year.

Collection In the third quarter of 2012, the collection rate reached 97.8% of the total amount invoiced, 0.1 p.p. above the index recorded in the same period of 2011. Regarding the collection rate over the last 12 months, it represented 98.3% of the income, 1.1 p.p. above the level recorded in September 2011, and 0.1 p.p. above the level recorded in June 2012. The retail segment showed a 3.3 p.p. growth compared with the same period last year. The large client segment decreased 2.5 p.p. compared with the 3Q11, impacted by the billing schedule, with a large concentration of bills having their due dates scheduled for the last business day of the month. As for the Public Power, the collection rate also went down by 6.4 p.p. as a result of a defaulting client that has already
Collection Rate per Segment Quarter
106.2% 102.2% 93.0% 96.3% 99.7% 99.8%

Colletion rate R$ MN Billing Collec tion Collec tion Tax

3Q12 2,239 2,191 97.8%

3Q11 2,023 1,977 97.7%

9M12 7,152 7,068 98.8%

9M11 6,731 6,576 97.7%

Collection Rate 12 m onths moving average

98.2% 97.2% 98.3%

Sep-11

Jun-12

Sep-12

renegotiated the debt for the fourth quarter. The maintenance of high collection rates is explained by the continued actions of the default-fighting

program, such as: (i) changed criterion for treating long-term defaulting clients as of March 2012, totaling 170 thousand clients; (ii) collection campaigns; (iii) continued increase in electronic meter installations; and (iv) increased cut and black list volumes by 35.3% and 22.2%, respectively, in the comparison between 3Q12 and 3Q11. The constitution of Provisions for Doubtful Credit (PCLD) in the 3Q12 represented 1.9% of the energy income gross revenue, totaling R$ 39.3 million. Year to
3Q10 3Q11 3Q12
3.8% 3.9%
Retail Large Customers
3Q11 3Q12

Public Sector

PDD/Gross Revenue (Billed Sales)

1.9%

date, the PCLD decreased from 3.5%, obtained over the last two years, to 2.6% of the energy income gross revenue, totaling R$ 173.2 million. This decrease can be explained by the change to the criterion for
Provisions for Past Due Accounts R$ Million 3Q12 PDD 39.3 3Q11 Var. R$ 9M12 9M11 Var. R$ 72.2 (32.8) 173.2 216.0 (42.9)

treating long-term defaulting clients as of March 2012 and by the default-fighting actions throughout 2012.

10

Operating Quality Light is committed to keeping the provision of electric energy with high quality standards. This year, R$ 171.6 million were invested with the purpose of improving the electric energy provision quality, as well as increasing the Company's grid capacity. In addition to contributing to the relationship between the distributer and its clients, the quality level will have great relevance in the regulatory model, from the rules that have already been approved for the 3rd cycle of rate review. The companies will be encouraged to seek better quality indexes and achieve their recognition by means of the x factor. For the third quarter of 2012, in the overhead distribution grid, 20.7 kilometers of low voltage grid were replaced by bundle assembled aerial cables, and the open grid was replaced by compact grid (spaced cable) across 59.4 kilometers of medium voltage grid. 405 inspections/maintenances in medium voltage circuits were carried out, in addition to the replacement of 787 transformers and the pruning of 26,331 trees. For the underground distribution grid, 6,029 transforming chamber inspections were carried out, as well as 15,815 inspection box assessments, in addition to the maintenance in 73 transformers and 750 protectors. The moving average of the twelve months ended September 2012, related to the interruption equivalent duration (DEC) indicator, expressed in hours, reached the amount of 16.14 hours. The interruption equivalent frequency (FEC) indicator, expressed in times, corresponded to 7.64 times for the same period. These indicators were impacted by the reduction on purges generated in 2011 by the so called "critical days", resulting from the calculation methodology defined by Aneel. In the comparison between indicators, without purge, i.e., what is actually felt by the consumers, the DEC indicator showed a reduction from 18.24 hours to 16.96 hours, and the IEF indicator also showed a reduction, going from 8.39 times to 7.92 times.

ELC / EFC - 12 Months

18.24
ELC 7.21 7.19 7.64 15.77 15.24 16.14

ELC and EFC - Without Purge 12 Months

16.96

8.39

7.92

EFC

set/10*

set/11

set/12

DEC

FEC

set/11

set/12

*The effects of the event in the National Interconnected System of 11/10/09 are not taken into consideration.

11

Generation The energy sold in the Regulated Procurement Environments (ACR) and in the Free Procurement Environments (ACL) in the 3Q12 was 1,004.5 GWh and 216.3 GWh, respectively. In the ACR, the volume of energy sold was 2.9% below the volume recorded in the same period of 2011, as a result of agreement seasonalization and, mainly, as a result of the returns arising from the Surplus and Deficit Compensation Mechanism (MCDS). In the ACL, the 30.3% increase can be explained by the higher volume of energy procured for the year of 2012, contemplating the returns in the ACR and the incentived energy commercialization arising from the SHP Paracambi. Spot market sales decreased by 46.2%, mainly as a result of the hydroelectric generation decrease in the National Interconnected System (SIN) and the Physical Guarantee seasonalization. The month of September 2012 recorded the sale of a total amount of 4,099.0 GWh, which represents a 1.1% decrease in the volume recorded in the same month of 2011, primarily resulting from agreement seasonality.
LIGHT ENERGIA (GWh) Regulated Contracting Environment Sales Free Contracting Environment Sales Spot Sales (CCEE) Total 3Q12 1,004.5 216.3 61.2 1,281.9 3Q11 1,034.1 165.9 113.8 1,313.8 % -2.9% 30.3% -46.2% 9M12 3,033.6 541.9 523.5 9M11 3,103.7 446.8 592.1 4,142.6 % -2.3% 21.3% -11.6% -1.1%

-2.4% 4,099.0

Commercialization and Services In the third quarter of 2012, Light Esco's and LightCom's electric energy direct commercialization, arising from conventional and incentived sources, totaled the amount of 518.3 GWh compared with the 423.4 GWh commercialized in the same period of the previous year, representing a 22.4% increase resulting from the higher number of businesses made during this period.
Volume (GWh) Trading 3Q12 518.3 3Q11 423.4 Var.% 22.4% 9M12 1,304.9 9M11 1,186.1 Var.% 10.0%

Throughout 2012, three new projects for reformation and expansion of the cold water system of large shopping malls, including Shopping Nova Amrica, were procured, in addition to the installation of a photovoltaic power station in the roofing of the Maracan Arena. Projects for load increase and construction of substations have also been signed. Currently, seven service provision projects are under execution by Light Esco, among which is the cogeneration project carried out in a soft drink company from Rio de Janeiro, where it will be possible to generate a series of industrial utilities, such as electric energy, cold water, steam, thermal energy, and other industrial gases, by the end of the project.

12

Financial Performance
Net Revenue Consolidated The Net Operating Revenue for the quarter totaled R$ 1,748.0 million, 5.5% above the revenue recorded in the 3Q11. Without taking into consideration the construction revenue, which has a neutral effect on the result, the consolidated net revenue increased by 10.6%, totaling R$ 1,577.7 million in the 3Q12. All of the Company's operating segments showed increased numbers, with highlights to the service and commercialization activity, whose net revenue recorded a 103.4% increase compared with the 3Q11. In the comparison between the year to date periods, without taking the construction revenue into consideration, the consolidated net revenue totaled R$ 4.980.2 million, 8.9% above the figure recorded in the 9M11.
Net Revenue (R$ MN) Distribution Billed consumption Non billed energy Network use (TUSD) Short-Term (Spot) Others Subtotal (a) Construction Revenue Subtotal (a') Generation Generation Sale (ACR+ACL) Short-Term Others Subtotal (b) Commerc ialization and Servic es Energy Sales Servic es Subtotal (c) Others and Eliminations (d) Total w/out construction revenue (a+b+c+d) Total (a'+b+c+d)
1

3Q12 1,244.6 3.7 142.7 10.5 14.7 1,416.2 170.3 1,586.5

3Q11 1,163.0 16.5 117.9 13.3 12.2 1,322.9 230.6 1,553.5

Var. % 7.0% -77.6% 21.1% -21.5% 20.8% 7.1% -26.1% 2.1%

9M12 4,012.6 6.7 423.6 28.1 56.7 4,527.6 470.0 4,997.6

9M11

Var. %

3,846.6 4.3% (14.7) 373.6 13.4% 26.1 7.7% 22.4 152.6% 4,254.1 6.4% 556.9 -15.6% 4,811.0 3.9%

91.0 4.2 14.7 109.9

79.9 0.2 2.7 82.9

13.9% 1834.8% 436.6% 32.6%

261.9 38.6 23.0 323.5

233.6 5.2 6.4 245.1

12.1% 646.5% 261.3% 32.0%

68.5 17.3 85.8 (34.3) 1,577.7 1,748.0

41.1 1.1 42.2 (21.5) 1,426.5 1,657.1

66.7% 1498.1% 103.4% 59.4% 10.6% 5.5%

173.8 30.3 204.1 (75.0) 4,980.2 5,450.2

118.2 21.8 140.0 (66.4) 4,572.8 5,129.7

47.1% 38.5% 45.8% 13.0% 8.9%

6.2% Balance of the settlement on the CCEE The subsidiary Light SESA counts revenues and costs, w ith zero margin, related to services of construction or improvement in
infrastructure used in services of electricity distribution.

13

Distribution The Net Revenue for the 3Q12 totaled R$ 1,586.5 million, which represents a 2.1% increase in relation to the same quarter in the previous year. Without taking the
Electric Energy Consumption (GWh) - Captive 3Q12
Others 18% 847 1,627 Com m ercial 35% 1,801 370 Industrial 8% Residential 39%

construction revenue into consideration, the net revenue for the distribution segment was R$ 1,416.2 million in this quarter, 7.1% above the revenue recorded in the 3Q11. The net revenue increase recorded in this quarter is a reflex, mainly, of the combined effect of the 7.82% average increase on the energy rate, as of November 07, 2011, with the 3.5% expansion on the total market. The residential and commercial segments represented 77% of the captive
418 Com m ercial 34%

Net Revenue by Class- Captive R$ MN - 3Q12

Others 15% 182 540 105 Industrial 8% Residential 43%

market revenue. In the 9M12, the distributor's net revenue, without taking the construction revenue into consideration, totaled R$

4,527.6 million, 6.4% above the figure recorded in the same period of 2011, mainly as a result of both the 8.4% growth in the free market consumption and the rate review from November 2011.

Generation The Net Revenue for the quarter totaled R$ 109.9 million, which represents a 32.6% increase in relation to 3Q11. Such result can be explained by the average price increase verified in the spot market between the periods (R$ 131.1/MWh in the 3Q12 against R$ 21.3/MWh in the 3Q11) and by the 30.3% increase in the free market energy sale, combined with higher procurement prices in this market. In addition to that, the consolidation of Renova's R$ 12.9 million net revenue, in the label others, also contributed to the revenue growth, given the fact that its first wind farm went live in July this year. In the 9M12, the net revenue corresponded to R$ 323.5 million, 32.0% above 9M11, mainly due to the higher price and volume of the energy agreements negotiated in the ACL, in addition to the increased average price verified in the spot market. Commercialization and Services The Net Revenue for the 3Q12 totaled R$ 85.8 million, 103.4% above the revenue recorded in the 3Q11. Such performance mainly results from the higher energy commercialization price, impacted by the spot market price increase in the quarter and by the service activity, arising from Shopping Nova Amrica's cold water system reformation project, which is under execution stage, with revenue amounting to R$ 7.2 million.

14

In the 9M12, the Net Revenue was 204.1 million, 45.8% higher than the revenue recorded in the same period of the previous year. Costs and Expenses Consolidated Consolidated Operating Costs and Expenses In the third quarter of 2012, operating costs and expenses totaled R$ 1,566.4 million, presenting a 3.6% growth compared with the figure recorded in the same period of the previous year. Without taking the construction cost into consideration, the consolidated costs and expenses for the quarter were 9.0% above the ones recorded in the 3Q11. Such variation was mainly influenced by the costs and expenses from the distribution and commercialization and service segments, primarily impacted by the increase in the costs with energy purchase for resale, both by reason of the higher volume and of the PLD. In the 9M12, the consolidated operating costs and expenses, including the construction costs, totaled R$ 4,281.7 million, 8.8% higher than the figure recorded in the same period last year.
Operating Costs and Expenses* (R$ MM) Distribution Distribution w/out Construction Revenue Generation Commercialization Others and Eliminations Consolidated w/out Construction Revenue Consolidated
*Does not include other operating expenses/incomes

3Q12 (1,473.6) (1,303.3) (48.7) (62.3) 18.1 (1,396.1) (1,566.4)

3Q11 Var. % (1,453.9) 1.4% (1,223.3) 6.5% (36.4) 33.9% (38.8) 60.5% 17.0 6.3% (1,281.4) 9.0% (1,512.0) 3.6%

9M12 (4,504.2) (4,034.2) (129.2) (107.2) (11.2) (4,281.7) (4,751.7)

9M11 Var. % (4,312.3) 4.5% (3,755.4) 7.4% (108.1) 19.5% (128.4) -16.5% 56.6 -119.8% (3,935.2) 8.8% (4,492.1) 5.8%

Distribution In the quarter, the energy distribution activity costs and expenses increased by 1.4% in relation to the 3Q11. Without taking the construction cost into consideration, total costs and expenses presented a 6.5% growth, mainly as a result of the 10.1% increase in the non-manageable costs and expenses, partially offset by the 4.0% reduction in the manageable costs and expenses.
Costs and Expenses (R$ MN) Non-Manageable Costs and Expenses Energy Purchase costs Costs with Charges and Transmission Others (Mandatory Costs) Manageable Costs and Expenses PMSO Personnel Material Outsourced Services Others Provisions Depreciation and Amortization Construction Revenue Total costs w/out Construction Revenue Total Costs 3Q12 (1,003.1) (781.3) (217.6) (4.2) (300.2) (178.5) (69.3) (5.8) (86.3) (17.1) (52.3) (69.3) (170.3) (1,303.3) (1,473.6) 3Q11 Var. % (910.8) 10.1% (701.3) 11.4% (205.1) 6.1% (4.3) -2.3% (312.5) -4.0% (149.0) 19.8% (53.0) 30.8% (6.6) -11.9% (79.9) 7.9% (9.5) 80.6% (83.0) -36.9% (80.6) -14.0% (230.6) -26.1% (1,223.3) 6.5% (1,453.9) 1.4% 9M12 (3,082.4) (2,440.5) (629.4) (12.5) (951.8) (516.0) (195.8) (13.2) (260.6) (46.4) (222.9) (212.9) (470.0) (4,034.2) (4,504.2) 9M11 Var. % (2,781.4) 10.8% (2,190.8) 11.4% (577.5) 9.0% (13.0) -4.1% (974.0) -2.3% (496.9) 3.8% (173.4) 13.0% (18.1) -27.4% (266.4) -2.2% (39.0) 19.1% (242.6) -8.1% (234.5) -9.2% (556.9) -15.6% (3,755.4) 7.4% (4,312.3) 4.5%

15

Non-Manageable Costs and Expenses In the third quarter of 2012, the non-manageable costs and expenses were R$ 1,003.1 million, showing a 10.1% increase in relation to the same period in 2011.
1.7% Purchased Energy - GWh 9 m onths

21,936
3.5% 18.4% 21.7%

21,740
1.7% 18.4% 21.9% 1.8%

The energy purchase costs increased by 11.4% in relation to the 3Q11, mainly as a result of both the PLD increase, which elevated the costs of thermal station

54.7%

56.2%

availability agreements, and the exchange variation, which affected the costs with the purchase of energy from Itaipu and Norte Fluminense. In addition to that, the fact that the contracted products went on new energy auctions at higher prices, as well as the readjustments to the agreements previously existing in the portfolio, have also contributed to cost increase. A portion of this increase had already been contemplated in the rate review of 2011, and the other part comprises regulatory assets (CVA) to be considered in the next rate review,
9M11 9M12
NORTE FLU ITAIPU SPOT

9M11
AUCTIONS NORTE FLU ITAIPU

9M12
SPOT PROINFA

Purchased Energy - R$ MN 9 m onths

1.2%

2,190.8
16.5% 29.6% 52.7%

2,440.5
17.2% 29.0%

1.5%

52.3%

but which are not recorded in the statement of income,

AUCTIONS

by reason of the International Financial Reporting Standards (IFRS). The third quarter was also impacted by the non-recurring cost in the amount of R$ 14.8 million referring to final decision on the lawsuit under the accountability mechanism of CCEE (Trading Chamber). The costs with charges and transmission showed a 6.1% increase that mainly results from both the increase in the reserve energy charge and the connection and transmission charge annual adjustment, partially offset by the decrease in the System Service Charges (ESS), as a result of the reduced activation of the thermal stations due to operating constraints during this quarter, compared with the same period in 2011. The average cost of the purchased energy, without taking the spot market purchases into consideration, was R$ 116.6/MWh in the 3Q12, compared with a total energy purchase average cost of R$ 104.3/MWh in the 3Q11, which represents a 11.8% increase. Year to date, the non-manageable costs and expenses were R$ 3,082.4 million, showing a 10.8% increase in relation to the same period in 2011. Energy purchase costs went up by 11.4% in relation to 9M11, with impact from the PLD and exchange variation increase, which affected the Itaipu and Norte Fluminense costs. In the comparison between the periods, the costs with charges went up by 9.0%,

16

mainly as a result of the reserve energy charge increase and the connection and transmission charges annual readjustment.

Manageable Costs and Expenses In the 3Q12, the manageable operating costs and expenses, represented by personnel, materials, third-party services, provisions, depreciations, and others totaled R$ 300.2 million, showing a 4.0% decrease between the periods. The PMSO (personnel, materials, services, and other) costs and expenses amounted to R$ 178.5 million in the quarter, 19.8% above the third quarter of 2011. There has been a 30.8% increase in the personnel line, which is a result of: (i) increased number of employees, with the continuation of the primarization process; (ii) 6.0% payroll increase, referring to the annual collective bargaining; (iii) procurement of a consulting company with the purpose of transforming the corporate mindset in order to reduce accidents; (iv) increase to the provisioned amount relative to profit sharing; and (v) nonrecurring expenses related to the top management change. The Third-Party Services line went up by 7.9%, mainly due to the increased number of cut-offs, terminations and re-hirings compared with the same period last year. Such variation was also caused by the increase in the non-recurring expenses with the customer service channels. The provisions line showed a 36.9% decrease compared with the 3Q11. The constitution of Provisions for Doubtful Credit (PCLD) in the 3Q12, corresponding to R$ 39.3 million, represented 1.9% of the energy income gross revenue, which showed a 2.0 p.p. decrease when compared to the 3.9% on gross revenue in the 3Q11, which totaled R$ 72.2 million for PCLD. The 14.0% decrease recorded in the depreciation and amortization line can be explained by both the change to the depreciation rates introduced by Aneel's Resolution no. 474/2012, which reduced the average depreciation rate, becoming effective as from January this year, as well as the non-recurring effect in the 3Q11 related to the correction of the difference in the special liabilities accumulated depreciation in the amount of R$ 2.7 million. From January to September, the manageable costs and expenses amounted to R$ 951.8 million, 2.3% below the figure recorded in the same period, 2011. The PMSO costs and expenses totaled R$ 516.0 million over the first nine months of the year, showing a 3.8% increase. In September, the Provision for Doubtful Credit totaled the amount of R$ 173.2 million in the year to date, with a 19.8% decrease compared with the same period of the previous year, which represents 2.6% of the energy income gross revenue, i.e., 0.9 p.p. below the figure recorded in the 9M11.

17

Generation
Operating Costs and Expenses* - R$ MN 3Q12 Personnel (6.4) Material and Outsourc ed Services (5.3) Purchased Energy (CUSD) (10.8) Depreciation (18.1) Others (includes provisions) (8.1) Total (48.7) *Doesn't include another operating costs and expenses. 3Q11 Var. % (5.2) 23.5% (4.9) 7.9% (4.8) 126.6% (14.0) 29.3% (7.5) 7.7% (36.4) 33.9% 9M12 (17.8) (14.7) (24.1) (46.7) (25.9) (129.2) 9M11 Var. % (17.1) 4.2% (12.5) 17.7% (13.2) 82.6% (42.9) 8.9% (22.5) 15.1% (108.1) 19.5%

In this quarter, Light Energia's costs and expenses accounted for R$ 48.7 million, showing a 33.9% increase compared with the 3Q11. Such performance is explained both by the consolidation, effective September 2011, of Renova's costs, which totaled R$ 7.1 million, and by the purchase of the energy generated by SHP Paracambi, corresponding to the amount of R$ 3.8 million. The costs and expenses in the 3Q12 are comprised as follows: Personnel (13.1%), materials and thirdparty services (11.0%), CUSD/CUST/Purchased Energy (22.2%), other and depreciation (53.7%). In this quarter, the PMSO cost per MWh was R$ 14.84/MWh, compared with a R$ 14.50/MWh cost in the 3Q11. Year to date, Light Energy's costs and expenses were R$ 129.2 million, showing a 19.5% increase in relation to the costs and expenses from the same period of 2011. Such performance is fundamentally explained both by the consolidation of Renova's costs, which represented R$ 12.7 million, and by the purchase of the energy generated by SHP Paracambi, corresponding to the amount of R$ 6.7 million.

Commercialization and Services

Operating Costs and Expenses - R$ MN Personnel Material and Outsourced Services Purchased Energy Depreciation Others (includes provisions) Total

3Q12 (1.8) (9.5) (66.7) (0.1) (0.5) (78.7)

3Q11 Var. % (1.1) 58.4% (1.0) 830.3% (35.9) 85.6% (0.2) -13.7% (0.5) -8.4% (38.8) 102.8%

9M12 (4.4) (16.6) (162.4) (0.5) (1.4) (185.2)

9M11 Var. % (3.4) 30.0% (15.1) 9.9% (108.1) 50.2% (0.5) 15.9% (1.3) 4.3% (128.4) 44.3%

In the 3Q12, the costs and expenses totaled R$ 78.7 million, 102.8% above the amount recorded for the same period in 2011. Such increase is primarily explained by the purchased energy cost, which represented an 85.6% increase between the quarters, resulting from the spot market price increase, in addition to the higher volume of energy commercialized. In addition to these costs, the expenses with materials and third-party services also increased as a result of the project for reformation of the Shopping Nova Amrica's cold water system, which is under execution stage, and whose completion is expected for the fourth quarter of 2012.

18

Year to date, the costs and expenses totaled R$ 185.2 million, a 44.3% increase in relation to the same period last year, which was also impacted by the spot market price for the period.

EBITDA Consolidated
EBITDA and Adjusted EBITDA 3Q11/3Q12 - R$ Millions

355

115 240

151 30 (110) (41) 269

119

388

Adjusted Regulatory EBITDA - 3Q11 Assets and Liabilities

Adjusted Net Revenue EBITDA - 3Q11

NonManagable Costs

Managable Costs (PMSO)

Provisions

EBITDA - 3Q12 Regulatory Assets and Liabilities

Adjusted EBITDA - 3Q12

The consolidated EBITDA for the 3Q12 was R$ 269.5 million, 12.4% above the figure recorded for the same period in 2011. Such performance can be mainly explained by the 10.6% increase in the net revenue, without the construction revenue, with growth recorded across all the segments of operation, combined with the purchased energy cost increase, mainly resulting from factors such as the readjustments made to the effective agreements, the exchange variation affecting the costs with purchase of energy from Itaipu, and the PLD increase that impacted the cost with availability of thermal stations. A portion of this increase had already been contemplated in the rate review of 2011, and the other part comprises regulatory assets and liabilities (CVA) to be considered in the next rate review, but which are not recorded in the statement of income. Considering the CVA, the adjusted EBITDA would have been R$ 388.2 million, 9.5% higher than the one recorded in the 3Q11. The EBITDA margin4 in this quarter was 17.1%. The generation and commercialization EBITDA's growth increased the participation of these segments in the consolidated EBITDA to 29.5% and 2.6%, respectively. This way, the distribution segment represented 67.9% of the total.
Commercialization 2.6% *Does not consider eliminations Generation 29.5% Distribution 67.9%

EBITDA per segment* 3Q12

In order to calculate the Distribution and the Consolidated EBITDA margin, the construction revenue was not taken into consideration due to the accounting of revenue and cost, with zero margin.

19

Consolidated EBITDA- R$ MM Distribution Generation Commerc ialization Others and eliminations Total EBITDA Margin (%)

3Q12 182.2 79.3 6.9 1.0 269.5 17.1%

3Q11 Var.% 179.6 1.5% 60.5 31.0% 3.6 95.0% (3.9) -125.5% 239.8 12.4% 16.8% -

9M12 706.4 241.1 18.4 (6.8) 959.1 19.3%

9M11 Var.% 731.4 -3.4% 179.9 34.0% 12.1 51.6% (7.9) -15.0% 915.5 4.8% 20.0% -

Year to date, the EBITDA was R$ 959.1 million, 4.8% above the figure recorded for the same period in 2011, with EBITDA margin of 19.3%. Given the CVA formation, the EBITDA would total R$ 1,153.6 million in the 9M12, 18.9% higher than the one recorded in the same period last year.

Distribution The Distribution EBITDA for the 3Q12 was R$ 182.2 million, 1.5% above the figure recorded for the same period of 2011. The result is explained by the 3.5% increase in the total market consumption, partially offset by the higher cost of purchased energy, impacted by the spot market high price and by the exchange variation between the periods. A portion of the energy purchase cost increase comprises regulatory assets and liabilities (CVA), which are taken into consideration for this year's rate review. Considering this, the Distributor's EBITDA would have been R$ 301.0 million, 2.2% higher than the one recorded in the 3Q11. The EBITDA margin5 in the quarter was 12.9%, 0.7 p.p. below the 3Q11. Year to date, the distributor's EBITDA was R$ 706.4 million, a 3.4% decrease in relation to the same period last year. Such result was also influenced by the increase in the energy purchase cost. Given the regulatory assets and liabilities (CVA), the Distributor's EBITDA would be R$ 900.8 million in the 9M12, 14.5% higher than the one recorded for the same period in the previous year. The EBITDA margin in the period was 15.6%, 1.6 p.p. below the 9M11. Generation Light Energia's EBITDA showed a 31.1% increase compared with the 3Q11, totaling R$ 79.3 million in this quarter. This result mainly arises from a greater energy sale revenue in the short run due to the average price increase verified in the spot market between the periods (R$ 131.1/MWh in the 3Q12 against R$ 21.3/MWh in the 3Q11) offsetting the reduced volume of energy sold to this market, and from the 30.3% increase in the volume of energy sold to the free market, combined with the higher procurement prices in this market. In addition to that, the consolidation of Renova's R$ 9.9 million EBITDA also contributed to the result, encouraged by the fact that its first wind farm went live in July this year. The EBITDA margin in the quarter was 72.1%, 0.9 p.p. above the 3Q11.
In order to calculate the Distribution and the Consolidated EBITDA margin, the construction revenue was not taken into consideration due to the accounting of revenue and cost, with zero margin.
5

20

Year to date, the EBITDA totaled R$ 241.1 million, 34.0% higher than the amount recorded in the 9M11. The EBITDA margin in this period was 74.5%, 1.1 p.p. above the 9M11.

Commercialization and Services The EBITDA totaled R$ 6.9 million in this quarter, 95.0% above the amount recorded in the 3Q11. Such result is mainly explained by the significant PDL increase, combined with the higher volume of energy commercialized, compared with the amount recorded in the same period of the previous year. The EBITDA margin in the quarter was 8.1%, 0.3 p.p. below the 3Q12. Year to date, the EBITDA totaled R$ 18.4 million, 51.6% higher than the amount recorded in the 9M11. The EBITDA margin in the period was 9.0%, 0.4 p.p. above the 9M11.

21

Consolidated Financial Result

Financial Result - R$ MN Financial Revenues Income from financial investments Monetary and Exchange variation Net Swap Operations Swap Operations Moratory Increase / Debts Penalty Others Financial Revenues Financial Expenses Debt Expenses Monetary and Exchange variation Net Swap Operations Restatement of provision for contingencies Restatement of R&D/PEE/FNDCT Interest and fines on taxes Installment payment - fines and interest rates Law 11.941/09 (REFIS) Present value adjustment DIC/FIC Compensation Other Financial Expenses (Includes IOF) Braslight (private pension fund) Charges Monetary and Exc hange Variation Total 3Q12 32.9 13.1 0.1 3.7 16.7 3.0 (149.5) (89.1) 2.6 (6.0) (5.1) (1.5) (1.1) (3.4) (3.4) (4.7) (12.3) (25.4) (15.6) (9.8) (116.6) 3Q11 37.2 12.2 0.5 4.7 1.1 16.1 3.8 (181.2) (101.1) (8.9) (3.3) (2.5) (4.0) (8.1) (25.0) (4.1) (2.0) (22.2) (15.2) (7.0) (144.0) Var. % -11.6% 7.4% -79.4% 3.9% -21.6% -17.5% -11.8% 54.6% -38.8% -72.2% -57.5% -86.5% 13.8% 509.8% 14.4% 2.9% 39.1% -19.0% 9M12 128.7 36.6 2.3 11.6 25.2 58.9 19.3 (491.8) (269.1) (13.4) (21.0) (5.5) (1.8) (12.0) (32.4) (30.5) (20.6) (85.6) (46.9) (38.7) (363.2) 9M11 (%) 128.4 0.2% 39.2 -6.7% 1.9 20.9% 1.4 714.5% 1.4 1659.0% 71.5 -17.7% 14.3 34.9% (457.8) 7.4% (255.3) 5.4% (5.5) 141.3% (22.3) -5.9% (4.6) 20.6% (15.5) -88.2% (19.1) -37.4% (19.2) 69.0% (20.9) 45.8% 1.0 (96.4) -11.2% (45.4) 3.4% (51.0) -24.1% (329.4) 10.2%

The financial result for the quarter was negative in R$ 116.6 million, 19.0% below the R$ 144.0 million negative financial result recorded in the third quarter of 2011. The financial revenue for the quarter was R$ 32.9 million, which represents a result that is 11.6% smaller than the one verified in the same period of 2011, mainly due to the swap result variation resulting from the dollar's 18.8% appreciation in that quarter. The financial expense for the quarter amounted to R$ 149.5 million, which is a 17.5% decrease in relation to the same period in 2011. Such performance is mainly a result of: (i) adjustment to present value in the amount of R$ 23.4 million related to the advanced payment of a client's debt with Light, in the third quarter of 2011; (ii) decrease in the charges of the debt in R$ 11.9 million resulting from the interest rate reduction and the rollover of debt with high rates for others with lower cost; and (iii) difference in the R$ 11.5 million expense with monetary and exchange variation, primarily impacted by the adjustment to the bond value (guarantee - debt reducer) of the National Treasury Debt, generating a financial expense decrease in the period. Year to date, the financial result was R$ 363.2 million negative, 10.2% above the also negative result recorded for the first nine months of 2011. Such result is mainly caused both by the Company's increased leverage level, which resulted in higher debt charges, and by the PIS/COFINS effect recorded in this quarter, accounted for in the other expenses line, in the amount of R$ 7.5 million, related to the Interest on Own Capital (JCP) deliberation.

22

Indebtedness
R$ MM Brazilian Currency Light SESA Debenture 4th Issue Debenture 5th Issue Debenture 7th Issue Debenture 8th Issue Eletrobrs CCB Bradesco Working Capital - Santander BNDES (CAPEX) BNDES FINEM Others Light Energia Debenture 1st Issue (Light Energia) Debenture 2st Issue (Light Energia) Debenture 3st Issue (Light Energia) BNDES FINEM (CAPEX) Others Renova Energia BNDES FINEM (CAPEX) Banco do Nordeste Light ESCO BNDES - PROESCO Light GER BNDES - Lightger Foreing Currency Light SESA National Treasury Merril Lynch BNP Citibank Gross Debt Cash Net Debt (a) Braslight (b) Adjusted Net Debt (a+b) Short Term 618.5 584.7 0.0 237.6 25.1 2.2 0.6 119.2 18.8 42.2 138.7 0.3 20.5 7.8 4.0 0.1 8.6 46.8 5.6 4.2 1.4 3.5 3.5 4.2 4.2 12.7 12.7 10.1 0.4 1.6 0.5 631.2 % 12.8% 12.1% 0.0% 4.9% 0.5% 0.0% 0.0% 2.5% 0.4% 0.9% 2.9% 0.0% 0.4% 0.2% 0.1% 0.0% 0.2% 1.0% 0.1% 0.1% 0.0% 0.1% 0.1% 0.1% 0.1% 0.2% 0.3% 0.2% 0.0% 0.0% 0.0% 13.1% Long Term 3,751.2 2,815.4 0.0 365.4 648.4 470.0 1.0 375.0 199.1 392.5 363.9 664.2 171.2 423.4 30.0 39.6 115.6 200.4 177.8 22.5 10.5 10.5 60.9 60.9 431.4 431.4 35.4 101.5 91.4 203.1 4,182.6 % 77.9% 58.5% 0.0% 7.6% 13.5% 9.8% 0.0% 7.8% 4.1% 8.2% 7.6% 13.8% 3.6% 8.8% 0.6% 0.8% 2.4% 4.2% 3.7% 0.5% 0.2% 0.2% 1.3% 1.3% 0.7% 9.0% 0.7% 2.1% 1.9% 4.2% 86.9% Total 4,369.7 3,400.1 0.1 603.1 673.5 472.2 1.7 494.2 217.9 434.7 502.5 0.3 684.6 179.0 427.3 30.1 48.2 162.3 205.9 182.0 24.0 14.0 14.0 65.1 65.1 444.0 444.0 45.5 101.9 93.0 203.6 4,813.8 1,182.3 3,631.5 1,089.7 4,721.2 % 90.8% 70.6% 0.0% 12.5% 14.0% 9.8% 0.0% 10.3% 4.5% 9.0% 10.4% 0.0% 14.2% 3.7% 8.9% 0.6% 1.0% 3.4% 4.3% 3.8% 0.5% 0.3% 0.3% 1.4% 1.4% 9.2% 9.2% 0.9% 2.1% 1.9% 4.2% 100.0%

114.0

975.7

The Company's gross debt on September 30, 2012 was R$ 4,813.8 million, an 18.7% increase in relation to the position recorded in June 30, 2012. When compared to the same period last year, the gross debt presented a 33.4% increase due to investments and interest acquisitions in other companies. The main fundings in the period were: (i) 8th issuance of Light SESA's debentures in the amount of R$ 470 million; (ii) 2nd and 3rd issuance of Light Energy's debentures in the total amount of R$ 425 million and R$ 30 million, respectively; (iii) resource release by the BNDES in the amount of R$ 490 million to Light SESA; and (iv) foreign exchange funding in the amount of R$ 202 million to Light SESA through the Citibank, for working capital purposes.

23

The net debt recorded in September 2012 was R$ 3,621.6 million, which represents a 3.0% increase compared with the amount recorded in June 2012, due to the cash variation in the period. The net debt/EBITDA ration for September 2012 is 2.8x. The average debt maturity term is 3.7 years. The average cost of the debt denominated in reais is 8.5% p.a., 0.8 p.p. below the debt cost as of June 2012. The average cost of the debt denominated in foreign currency is US$ +3.0% p.a., 0.5 p.p. below the average cost as of June 2012. In the closing of September, was 9.2% of the in total foreign
2.1% 6.0% 9.2% Indebtedness (Brazilian Currency x Foreign)

Net Debt (ex-Braslight) (R$ m illion)

3,143.5

3,516.6

3,631.5

Sep-11

Jun-12

Sep-12

indebtedness

denominated

currency, and, given the hedge operation outlook, the foreign currency risk exposure reached 0.4% of the total, 0.2 p.p. below the one recorded in June 2012. The hedge policy consists in
Sep-11 Jun-12
Brazilian Currency

97.9%

94.0%

90.8%

protecting the cash flow maturing over the next 24 months (principal and interest), by means of a non-cash swap instrument with world-class

Sep-12
Foreign Currency

financial institutions.

24

Net income Light recorded a Net Profit in the amount of R$ 84.1 million for this quarter, contrasting with the R$ 1.6 million loss recorded in the 3Q11. In addition to the improved operating performance and the reduced net financial expense previously mentioned, such result was impacted by the non-recurring effects of: (i) Light Energia's equity accounting gain in the amount of R$ 15.9 million, as a result of Renova's interest dilution through the arrival of BNDESPAR to its capital, and (ii) fiscal benefit arising from the payment of Interest on Own Capital (JCP) in the amount of R$ 20.0 million. Without considering the energy purchase cost increase portion, which was offset by the rate review through the formation of regulatory assets and liabilities (CVA) not recorded in the result, the adjusted Net Profit would have been R$ 162.5 million, 119.0% higher than the one recorded in the 3Q11.

Net Income and Adjusted Net Income 3Q11/3Q12 R$ Million

119.0% 162

78 24 74 27 76 (2)
Adjusted NI Regulatory 3Q11 Assets and Liabilities 3Q11 EBITDA Financial Result Taxes Others 3Q12 Regulatory Adjusted NI Assets and 3Q12 Liabilities

84

30

Year to date, the net profit was R$ 264.0 million, 25.7% above the figure recorded for the same period in 2011. Given the CVA formation, the adjusted net profit would total R$ 392.3 million in the 9M12, 59.2% higher than the one recorded in the same period last year.

25

CAPEX In the first nine months of 2012, Light made a R$ 527.8 million investment, which is 10.9%
592.7

CAPEX (R$ MM)

smaller than the amount invested in the same period in 2011. The distribution segment volume, concentrated with R$ the

0.3

60.8 23.9

-10.9%

527.8 28.8

3.8 13.2

highest

investment

482.0

507.6

482.0

million, which represents a

5.0% retraction

compared with the amount invested in the 9M11. Among the investments made, the ones aimed at the development of distribution grids (new
9M11
Distribution Administration

9M12
Generation Commercial

connections, increased capacity, and corrective maintenance), with the purpose of responding to market growth and increasing the grid's strength, in the amount of R$ 200.7 million, stand out. In addition to them, the investments made aiming at grid quality improvement and preventive maintenance, with the purpose of avoiding shut-downs and accidents with the populations, in the amount of R$ 97.9 million, should also be highlighted, as well as energy loss projects (grid shielding, electronic measurement system, and fraud regulation) in the amount of R$ 156.4 million. Investments made to the underground grid are included in the investments made to the distribution grid and quality improvement. As for the generation segment, the investments amount to R$ 13.2 million year to date, R$ 11.5 million of which refer to the modernization and maintenance of the existing generating power station.

Generation Expansion Projects One of the Company's pillars is its Strategic Planning, as well as the increased participation of the energy generating segment in its results. In order to achieve such goal, the Company announced various generation projects, thus ensuring its installed capacity growth. With SHP Paracambi going live in May, 2012, and Renova's first wind farm going live in July, 2012, in addition to Renova's operating SHPs, plus Light Energia's existing capacity, the current installed capacity totals 942 MW. Given the projects under development stage, the generation installed capacity will grow by 59.3% over the next years, going from the current 942 MW to 1,500 MW.

26

Generation Expansion (MW) 280 74* 868

Existing Capacity

59.3% 22 942 171 9 77 1,028 1,198 1,478

1,500

855

13 855

942

951

Light Energia (+) SHP (+) Renova Capacity Paracambi

(+) Lajes (+) Itaocara (+) Renova

(+) Belo Monte

(+) Guanhes

Capacity after expansion

* 9MW SHPs + 65MW Wind farms (operational start on jul/12)

In the third quarter of 2012, the following events related to the development of Light's generation capacity expansion projects were held: SHP Lajes The basic project remains under analysis by Aneel. With the approval of this project, it will be

possible to start the works in 2013, with generation expected to become effective in 2014, once the SHP has already had its installation license issued. With capacity to generate 17 MW, the unit will be installed at the HPP Fontes Velha's powerhouse. In addition to increasing the generating capacity, other benefits arising from the project include improved operational flexibility, modernization of CEDAE's adductor's supply, control over the Pira River's floodwaters, and water quality improvement to the Lajes Reservoir.

Itaocara The Itaocara Hydroelectric Development concession dates back to February 2001, currently belonging to the Consortium composed of Itaocara Energia S.A.(51%) and Cemig Gerao e Transmisso S.A.(49%). The Itaocara project was initially planned to provide 195 MW output. Upon request by Ibama, with the purpose of minimizing environmental impact, the Consortium revised the waterfall parceling, transforming it in two hydroelectric plants, Itaocara I, of 145 MW, and Itaocara II, of 50 MW. After such separation, the grantor only formalized the Itaocara I concession for the Consortium, with an expected budget of R$ 750 million. Currently, the HPP Itaocara Consortium is working on the attainment of the Installation License to be issued by IBAMA, with the works expected to be implemented in 2013.

27

Renova Energia (Renova) LER (Reserve Energy Auction) 2009: In July this year, the Alto Serto I wind compound was initiated as the greatest all over the Latin America, with 14 wind farms and 294.4 MW of installed capacity in the State of Bahia, as well as an investment in the amount of R$ 1.2 billion. In October 2012, the National Electric Power Agency (Aneel) disclosed the dispatches attesting that the 14 farms from the Alto Serto I wind compound that commercialized energy in the 2009 reserve energy auction (LER 2009) were able to start operating. A-3 2011: During the third quarter of 2012 the SPEs that own the nine Wind farms that sell energy at A-3 2011 signed the Electric Energy Contract at the Regulated Environment - CCEARs, with a supply of 19 years and 10 months term. A-3 2012 and A-5 2012: Renova has twelve undertakings with 270.4 MW of installed capacity authorized by the Energy Research Company (EPE) to take part in the A-3 2012 and A-5 2012 auctions, expected to be held in December 12 and 14, 2012, respectively.

28

Cash Flow

R$ MM Cash in the Beginning of the Period (1) Net Income Social Contributions & Income Tax Net Income before Social Contributions & Income Tax Provision for Delinquency Depreciation and Amortization Loss (gain) on intangible sales / Residual value of disposals fixed asset Losses (gains) on financing exchange activities Net Interests and Monetary Variations Braslight Atualization / provisions reversal Dilution of Renova's Gain Earning Before Taxes - Cash Basis Working Capital Contingencies Deferred Taxes Braslight Others Taxes Paid Interest Paid Cash from Operating Activities (2) Finance Obtained Dividends Loans and financing payments Financing Activities (3) Disposal of Assets/Intangible Fixed Assets/Intangible/Financial Assets Inflow/Acquisitions on Investment Dilution of Renova Investment Activities (4) Cash in the End of the Period (1+2+3+4) Cash Generation (2+3+4)

3Q12 523,0 84,1 2,8 81,4 39,3 87,9 1,6 (2,7) 67,1 25,4 35,0 (15,9) 319,1 (80,7) (25,9) (19,5) (28,1) 4,1 (9,8) (71,4) 87,7 863,6 (92,8) 770,8 3,1 (259,7) (12,8) 64,6 (204,8) 1.176,7 653,7

3Q11 436,9 (1,6) (1,7) 0,1 72,2 96,5 1,3 5,3 86,5 22,2 33,5 317,6 (28,7) (32,4) 27,0 (26,0) (42,6) (6,7) (53,0) 155,2 397,2 (55,3) 341,9 3,8 (264,3) (232,3) (492,8) 441,1 4,3

9M12 772,5 264,0 (85,5) 349,5 173,2 260,6 3,9 13,1 301,6 85,6 72,2 (15,9) 1.243,6 (247,9) (64,2) (35,2) (92,0) (57,1) (70,2) (222,1) 454,9 910,0 (73,7) (301,1) 535,2 4,9 (642,7) (12,8) 64,6 (586,0) 1.176,7 404,1

9M11 514,1 210,1 (96,7) 306,8 216,0 279,7 1,7 5,6 253,3 96,4 45,3 1.204,8 (237,9) (81,8) (116,5) (76,9) (79,4) (124,5) (165,6) 322,2 1.272,4 (351,0) (447,1) 474,3 8,5 (639,9) (238,1) (869,5) 441,1 (73,0)

The cash balance by the end of the third quarter of 2012 reached the amount of R$ 1,176.7 million. Year to date, cash generation totaled R$ 404.1 million, in contrast to the negative variation of R$ 73.0 million for the same period last year. Such performance was influenced by the acquisition of a stake at Renova Energia during the 3Q11, which contributed for a lower level of investments in comparison between the two periods. In the 9M12, operational cash generation reached R$ 454.9 million, 41.2% higher than 9M11.

29

Corporate Governance On September 30, 2012, Light S.A.'s capital stock was comprised of 203,934,060 common shares. Out of that total, 97,629,463 were outstanding shares. Light's current shareholders structure is provided below:
14.24% 2.74%

BTG PACTUAL

Indirect stake in blue

SANTANDER

28.59% 5.50% 28.59% FIP REDENTOR 75% 19.23% 25% CEMIG 6.41%

VOTORANTIM 5.50% 28.59% 5.50%

BANCO DO BRASIL

PARATI MINORITY SHAREHOLDERS 3.20% 0.42% 96.80% REDENTOR ENERGIA 100% 13.03% 100% 25.64%*

FIP LUCE 100% 13.03%

FOREIGN 59.36%

NATIONAL 40.64%

CEMIG 26.06%

RME 13.03% Controlling Shareholders 52.1% 13.03%

LEPSA

BNDESPAR 13.46%

MARKET 34.41% Free Float 47.9%

Light S.A. (Holding) Percentage in blue: indirect stake in Light

*12.61% (RME) + 13.03%(LEPSA)

On June 22, 2012, Renova Energia and BNDESPAR, a wholly owned subsidiary of BNDES (Brazilian Development Bank - Banco Nacional de Desenvolvimento Econmico e Social), announced an agreement through which BNDESPAR made an investment in Renova with the purpose of making a contribution to Renovas business plan, looking towards growth with profitability. The investment was made through a capital increase of 24,987,244 common shares and 8,730,416 preferred shares at the price of R$9.3334 per common or preferred share, equivalent to R$28.0002 per Unit and a total of R$314.7 million. The capital increase was ratified on October 2, 2012 during the Renovas Board of Directors meeting. BNDESPAR made a total investment of R$260.7 million, corresponding to a 12.2% stake in Renovas capital stock. The difference of R$ 54.0 million was paid in by the Renovas minority shareholders. In the Company's Board of Directors' Meeting, held on July 13, 2012, there was approved and guided the favorable voting manifestation of the Company's representatives in the Extraordinary General

30

Meeting of subsidiaries Light Energia S.A. and Light Servios de Eletricidade S.A. for the respective performance of the 3rd and 8th issuance of simple, unsecured debentures, non-convertible into shares, corresponding to the total amount of up to R$ 30 million, for the first one, and R$ 470 million, for the last one. Both will be subject to distribution private offer. In the Company's Extraordinary Board of Directors' Meeting, held in August 07, 2012, there was approved the appointment of Paulo Roberto Ribeiro Pinto, former Business Development Officer, to succeed Jerson Kelman as the Company's Chief Executive Officer as from that date, pursuant to the termination of his tenure. In the same meeting, all other members of the current Board of Directors were reelected for another three-year tenure, and the current Energy Officer, Evandro Leite Vasconcelos, was elected to also take over the position of Business Development Officer on a temporary and cumulative manner. On August 28, 2012, Light S.A. entered into the Definitive Instrument of Closing with Investminas Participaes S.A., related to the purchase of 26,520,000 class A, common shares of Guanhes Energia S.A., corresponding to 51% of interest in its capital stock, for the price of R$ 26,586,219.15. By reason of the execution of the Definitive Instrument of Closing, the First Addendum to the Shareholders' Agreement of Guanhes Energia was also executed and filed in Guanhes Energia's headquarters. The addendum presents Investminas Participaes S.A., Light Energia S.A., and Cemig Gerao e Transmisso S.A. (which holds 49% interest in Guanhes Energia's capital stock) as parties, and Guanhes Energia as consenting intervening party, in order to provide for the exit of Investminas and the entrance of Light Energia to the terms and conditions of the Shareholders' Agreement.

Capital Market Light's shares have been listed in BM&FBovespa's Novo Mercado since July 2005, in compliance with corporate governance best practices and with transparency and fairness principles, in addition to the granting of special rights to minority shareholders. Light S.A.'s shares comprise the following indexes: Ibovespa, IGC, IEE, IBrX, ISE, ITAG, and IDIV. Light's shares are traded in the American Over-theCounter (OTC) market through the Level 1 ADR, under the ticker LGSXY. Light S.A.'s shares (LIGT3) were priced at R$ 23.51 at the end of September. The Company's market value (no. of shares X price of the share) ended the quarter at R$ 4,794 million.

BM&F BOVESPA (spot market) - LIGT3 Daily Average 3Q12 3Q11 9M12 9M11 Number of shares traded (Thousand) 677.6 803.5 727.3 805.4 Number of Transactions 2,803 2,543 2,694 2,326 Traded Volume (R$ Million) 16.6 21.6 18.7 21.9 Quotation per shares: (Closing)* R$ 23.51 R$ 22.70 R$ 23.51 R$ 22.70 Share Valuing (Quarter) 0.6% -8.9% -14.1% 3.6% IEE Valuing (Quarter) -10.8% -6.7% -7.7% 2.1% Ibovespa Valuing (Quarter) 8.6% -19.0% 4.3% -24.5%
*Ajusted by earnings.

31

The graphs below show the profile of the Company's outstanding share holders in September.

Free Float Composition*

Foreigners

National Legal Entities 22.3% Foreign 59.4% Indivudual 18,3%

Europe 18,1% Asia 10,9%

Oceania 1.8% America w/out USA 2.8%

USA 66,4%

*Excluding BNDESPAR's interest

The graph below presents Light's share evolution from January 01, 2011 to October 31, 2012.

Light x Ibovespa x IEE Base jan/11 = 100 until 10/31/2012 2011 IEE IBOV LIGT3 20% -18% 25% 2012 IEE IBOV LIGT3 -12% 2% -20%

160

140

120 5% IEE 0% Light -18 % Ibovespa R$/share 01/03/11 22,23 10/31/12 21,85

100

80

60

Dec-10

Jan-11

Jun-11

Jul-11

Aug-11

Sep-11

Nov-11

Dec-11

Jan-12

Jun-12

Jul-12

Aug-12

May-11

May-12

Sep-12

40

Feb-11

Mar-11

Apr-11

Oct-11

Feb-12

Mar-12

Apr-12

Oct-12

32

Dividends The Company has the policy of distributing dividends in the minimum amount corresponding to 50% of the Company's adjusted net profit, calculated according to article 189 of the Corporate Law, the Brazilian accounting practices, and the CVM rules. On September 21, the distribution of interest on own capital, in the gross amount of R$ 71,376,921.00, which corresponds to R$ 0.35 per share, was approved by the Board of Directors. The net value per share corresponds to R$ 0.2975, with the 15% Withholding Tax already deduced, except for the shareholders who are exempt from such distribution. The payment of interest on own capital will be made by no later than April 30, 2013. All those persons holding shares of the Company on the base date of September 21, 2012 will be entitled to receive the corresponding amount. As from September 24, 2012, share transfers will be made on an ex-interest manner. On October 11, 2012, the payment of dividends approved by the Ordinary Shareholders' Meeting, held on April 11, 2012, was made. Said distribution corresponded to a total amount of R$ 181,501,313.40 or R$ 0.89 per share. All those persons holding shares of the Company on the base date of April 12, 2012 were entitled to receive the corresponding amount.

Paid dividends, dividend yield, and payout

100%

100% 76,3% 81%

100%

39,7%

50%

2007

2008

2009

2010

2011

1S12

Payout

Minimum Dividends Policy

33

8,2% 4,2%

9,9% 1,7% 408

8,1%

8,1% 6,1% 3,4% 3,3% 1,5%

432 363 351

351

203

187

205 87

182 71

118 1S08 2S08 1S09 2S09 1S10 2S10 1S11 2S11 1S12 2S12

Dividends

Interest on Equity

Dividend Yeld*

* Based on the closing price of the day before the announcement.

Recent Events On November 6, 2012, ANEEL ratified the 11.41% average readjustment of Light's rates for the period initiated on November 07, 2012, covering all consumption classes (residential, industrial, commercial, rural, and others). The readjustment index, applicable to the rates affective between November 07, 2012 and November 07, 2013, is comprised of two components: the structural component, which is now part of the rate, with a readjustment corresponding to 7.17%; and the financial component, which is valid for the period of one year, having a positive adjustment corresponding to 3.60%, replacing the 0.64% negative adjustment of the previous period. See Annex V On the first day of November, the Company informed its shareholders and the market in general that its subsidiary Light Energia S.A. (Light Energia) had filed a request for registration as a publicly-held company (Registration Request), in the B category, with the Brazilian Securities and Exchange Commission (CVM), on October 30, 2012. Being registered in the B category provides for the trading of the issuer's securities in security regulated markets, except for shares and share certificate of deposit or securities that provide the holder with the right to purchase said shares or share certificates of deposit. The Registration Request does not include a request for a joint security distribution public offer.

34

On November 6, BNDES Participaes S.A.- BNDESPAR (BNDESPAR), Light, Light Energia S.A. (Light Energia), RR Participaes S.A. (RR), Ricardo Lopes Delneri (Ricardo Delneri), Renato do Amaral Figueiredo (Renato Amaral), and Renova, as an intervening party, celebrated today a new shareholders agreement ("Agreement"), pursuant to the "Contrato Particular de Promessa de Subscrio de Certificados de Depsitos de Aes (Units) de Emisso da Renova Energia S.A. e Outras Avenas, celebrated on June 22, 2012, between BNDESPAR, Renova, Light Energia, Light, RR, Ricardo Delneri and Renato Amaral, as amended.

35

Disclosure Program
Schedule Teleconference 11/12/2012, Monday, at 4:00 p.m. (Brazilian Time) and at 1:00 p.m. (NY Time), with simultaneous translation to English Access conditions: Webcast: link on site www.light.com.br/ri (portuguese and english) Conference Call - Dial number: Brazil: (55) 11 - 4688-6361 Other countries: +1 (786) 924 6977 Access code: Light

Warning
Operating information and information related to the Management's expectations for the Company's future performance have not been revised by the independent auditors. Statements regarding future events are subject to risks and uncertainties. Such statements are based on our Management's beliefs and assumptions, as well as on information to which the Company has currently had access. Statements about future events include information regarding our current intentions, beliefs or expectations, as well as those of the Board of Directors' members and the Company's Officers. Exceptions for those statements and information about the future also include data on possible or assumed operating results, as well as statements that are preceded or followed by or even include the terms "believes", "may", "will", "continues", "expects", "foresees", "intends", "estimates" or similar expressions. Statements and information about the future do not represent a performance guarantee. They involve risks, uncertainties and assumptions because they refer to future events, thus depending on circumstances that may or may not become true. Both future results and the creation of value to shareholders may significantly differ from those expressed or suggested by the statements about the future. Many of the factors that will determine said results and values are beyond LIGHT S.A.'s controlling capacity or forecast.

36

ANNEX I Statement of Income per Company - R$ million

LIGHT SESA Net Operating Revenue Operating Expense Operating Result EBITDA Financial Result Other Operating Inc omes/Expenses Result before taxes and interest Net Income EBITDA Margin*
* Doesn't consider C onstruction Revenue.

3Q12 1,586.5 (1,473.6) 112.9 182.2 (88.6) 1.5 25.8 43.0 12.9%

3Q11 1,553.5 (1,453.9) 99.6 179.6 (128.1) (0.5) (29.0) (20.1) 13.6%

Var. % 2.1% 1.4% 13.4% 1.5% -30.8% -

9M12 4,997.6 (4,504.2) 493.5 706.4 (300.9) (2.5) 190.1 156.7 15.6%

9M11 4,811.0 (4,312.3) 498.7 731.4 (300.3) (1.8) 196.6 137.8 17.2%

Var. % 3.9% 4.5% -1.1% -3.4% 0.2% 37.3% -3.3% 13.7% -

LIGHT ENERGIA Net Operating Revenue Operating Expense Operating Result EBITDA Equity Pick-up Financial Result Other Operating Inc omes/Expenses Result before taxes and interest Net Income EBITDA Margin COMMERCIALIZATION Net Operating Revenue Operating Expense Operating Result EBITDA Financial Result Other Operating Inc omes/Expenses Result before taxes and interest Net Income EBITDA Margin

3Q12 109.9 (48.7) 61.2 79.3 14.8 (20.2) (0.2) 55.6 43.8 72.1% 3Q12 85.8 (78.7) 7.2 6.9 0.3 7.1 4.9 8.1%

3Q11 82.9 (36.4) 46.5 60.5 (19.6) (0.5) 26.4 17.4 73.0% 3Q11 42.2 (38.8) 3.4 3.6 0.4 3.8 2.6 8.4%

Var. % 32.6% 33.9% 31.6% 31.0% 3.0% -54.5% 110.6% 152.2% Var. % 103.4% 102.8% 110.3% 95.0% -31.8% 86.3% 91.0% -

9M12 323.5 (129.2) 196.0 241.1 14.8 (60.2) 1.6 152.2 107.2 74.5% 9M12 204.1 (185.2) 18.8 18.4 0.3 18.1 12.4 9.0%

9M11 245.1 (108.1) 137.0 179.9 (37.8) 0.4 99.6 66.4 73.4% 9M11 140.0 (128.4) 11.6 12.1 0.6 12.3 8.4 8.6%

Var. % 32.0% 19.5% 43.0% 34.0% 59.0% 265.4% 52.8% 61.5% % 45.8% 44.3% 61.8% 51.6% -47.8% 48.0% 47.2% -

37

ANNEX II Statement of Consolidated Income

Consolidated - R$ MM NET OPERATING REVENUE OPERATING EXPENSE Personnel Material Outsourced Services Purchased Energy Depreciation Provisions Construction Revenue Others OPERATING RESULT() EBITDA () FINANCIAL RESULT Financial Income Financial Expenses Other Operating Incomes/Expenses RESULT BEFORE TAXES AND INTEREST SOCIAL CONTRIBUTIONS & INCOME TAX DEFERRED INCOME TAX 3Q12 1,748.0 (1,566.4) (78.8) (7.8) (105.1) (1,033.5) (87.9) (53.3) (170.3) (29.6) 181.5 269.5 (116.6) 36.6 (153.1) 16.4 81.4 (29.4) 32.1 3Q11 1,657.1 (1,512.0) (60.7) (5.9) (91.7) (923.3) (94.7) (83.4) (230.6) (21.7) 145.1 239.8 (144.0) 33.6 (177.6) (1.0) 0.1 (23.1) 21.5 Var. % 5.5% 3.6% 29.8% 33.6% 14.6% 11.9% -7.2% -36.1% -26.1% 36.4% 25.2% 12.4% -19.0% 8.8% -13.8% 26.9% 49.6% 9M12 5,450.2 (4,751.7) (221.8) (16.7) (305.3) (3,167.5) (260.6) (224.3) (470.0) (85.5) 698.5 959.1 (363.2) 142.2 (505.4) 14.2 349.5 (92.6) 7.1 9M11 5,129.7 (4,492.1) (198.4) (18.2) (303.8) (2,817.6) (277.9) (244.0) (556.9) (75.3) 637.6 915.5 (329.4) 128.4 (457.8) (1.4) 306.8 (115.9) 19.2 Var. % 6.2% 5.8% 11.8% -8.4% 0.5% 12.4% -6.2% -8.1% -15.6% 13.6% 9.5% 4.8% 10.2% 10.8% 10.4% 13.9% -20.1% -63.2%

NET INCOME 84.1 (1.6) 264.0 210.1 25.7% () Operation Result, Administration vision = Operating Result, accounting norms (Item 1.9.7 of Notice CVM 01/2007) + financials (net financial expenses + equity pick-up). () EBITDA = Operating Result, Administration vision + depreciation and amortization. Not reviewable by the external audit. (*) The consolidated financial statements include the Light S.A. and its subsidiaries and affiliates. These financial statements were eliminated from equity consolidated companies, the balances of receivables and payables, revenues and expenses between the companies.

38

ANNEX III Consolidated Balance Sheet

Consolidated Balance Sheet - R$ MM ASSETS Circulating Cash & Cash Equivalents Receivable Accounts Inventories Recoverable Taxes Prepaid Expenses Other Current Assets Non Circulating Receivable Accounts Deferred Taxes Prepaid Expenses Others Non-current Assets Investiments Fixed Assets Intangible Total Assets LIABILITIES Circulating Suppliers Fiscal obligations Loans and Financing Debentures Others Obligations Provisions Dividends and interest on equity to be paid Non Circulating Loans and Financing Debentures Others Obligations Deferred Taxes Provisions Shareholders' Equity Realized Joint Stock Profit Reserves Legal Reserve Profits Retention Additional Proposed Dividend Asset Valuation Adjustments Accumulated Profit/Loss of Exercise Total Liabilities 09/30/2012 3,098.4 1,192.2 1,361.9 38.6 155.5 12.3 337.9 8,788.2 237.0 810.7 0.0 1,441.8 66.9 2,072.0 4,159.7 11,886.5 9/30/2012 2,290.9 737.8 180.2 354.3 276.9 323.3 176.2 242.2 6,363.2 2,074.2 2,108.4 1,328.1 328.0 524.5 3,232.5 2,225.8 341.7 178.3 163.4 0.0 456.7 208.2 11,886.5 12/31/2011 2,726.9 780.7 1,383.6 27.4 270.6 2.2 262.3 8,354.4 298.5 811.5 0.3 1,029.3 54.1 1,985.8 4,174.9 11,081.3 12/31/2011 1,987.1 757.2 169.7 305.3 213.7 307.7 159.7 73.7 5,872.8 1,854.7 1,790.1 1,369.3 343.0 515.7 3,221.4 2,225.8 341.7 178.3 163.4 181.5 472.4 0.0 11,081.3

39

ANNEX IV Regulatory Asset and Liability

R$ Million TOTAL ASSET TOTAL LIABILITIES TOTAL DIFFERENCE Net difference (period) Net difference (ac cumulated) Sep-12 262.7 (45.6) 217.1 118.7 194.5 Jun-12 Mar-12 dec/11 174.4 (76.0) 98.4 75.7 73.6 177.8 (155.1) 22.7 (2.1) 185.3 (160.6) 24.8 32.1 87.2 Sep/11 151.2 (158.6) (7.4) 114.9 55.0 Jun-11 Mar-11 dec/10 134.3 (256.6) (122.2) 5.6 (59.8) 149.8 (277.7) (127.8) (65.4) 161.6 (224.0) (62.4) 78.0 (213.3)

Light in Numbers
OPERATING INDICATORS N of Consumers (thousand) N of Employees Average provision tariff - R$/MWh Average provision tariff - R$/MWh (w/out taxes) Average energy purchase cost - R$/MWh Installed generation capacity (MW) Assured energy (Average MW)) Pumping and internal losses (Average MW) Available energy (Average MW) Net Generation (GWh) Load Factor Does not include purchase on spot. 2Q12 4,011 4,203 443.0 308.1 116.6 942 685 87 598 1,132 66.0% 2Q11 4,118 4,123 411.0 284.0 104.3 866 637 87 550 1,157 64.8% Var. % -2.6% 1.9% 7.8% 8.5% 11.8% 8.7% -2.2% -

40

Annex V

Brazilian Electricity Regulator - ANEEL, in a public meeting held on this date, approved an average readjustment of 12,27% to Light SESAs tariffs for captive consumers, been 11,85% for residential consumers, for the 12-month period starting on November 7, 2012. The tariff readjustment has two components: the structural component, which now integrates tariff, of 7.17%; and the financial component exclusively applied to the next 12 months, of 3.60%.

Light 2012 Tariff Readjustment Structural TRI Financial Additions Total 7.17% 3.60% 10.77%

The annual tariff readjustment process consists of transferring the concessions non-controllable costs to consumers, such as energy purchase, sector charges and transmission charges (Parcel A) and the controllable costs adjustment (Parcel B) by IGP-M (General Market Price Index) less X Factor, which transfers the concessionaires annual efficiency gains to consumers. The variation verified in Parcel A from November 2011 to October 2012, of 4.83%, was affected by 16.89% increase in the energy purchase costs, due to the high of the dollar, which impacts the cost of energy from Itaipu, and the higher Differences Settlement Price (PLD), the latter impacting on the energy cost of contracts for energy availability of thermal plants. The Parcel B Variation (that effectively remains with Light SESA to cover its costs and pay its investments) reflects the IGP-M index accumulated from November 2011 to October 2012 of 7.52%, less X Factor of 0.48%, resulting in the final percentage of 7.04%. Taking into consideration the new financial component, exclusively applied for the next 12 months, of 3.60% and the removal of financial component that is currently present into Lights tariffs, of -0.64%, Light SESAs captive consumers will have an average increase in their electricity bills of 12.27%, while the increase for free consumers will be of 2.49%, reflecting an average effect of 11.41%, from November 2012. It is noteworthy that the effects of Provisional Measure 579 of 09.11.2012 are not included in this readjustment, since the tariff reduction is scheduled to take place in February 5, 2013, when ANEEL shall proceed the Extraordinary Tariff Review in all of Brazilians energy concessionaries.

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