Results – 2Q11 Excellence in operational efficiency guarantees robust results

Disclamer Some statements and estimates in this material may represent expectations about future events or results that involve risks and uncertainties known and unknown. There is no guarantee that the events or results referred to in these expectations will occur. These expectations are based on present assumptions and analyses from the viewpoint of our management, based on their experience, the macroeconomic environment, market conditions in the energy sector and our expected future results, many of which are not under Cemig’s control. Important factors that can lead to significant differences between actual results and projections about future events or results include Cemig’s business strategy, Brazilian and international economic conditions, technology, Cemig’s financial strategy, changes in the energy sector, hydrological conditions, conditions in the financial markets, uncertainly regarding future results of operations, plan and objectives as well as other factors. Because of these and other factors, our actual results may differ significantly from those indicated in or implied by these statements. The information and opinions contained herein should not be understood as recommendation to potential investors and no investment decision should be based on the truthfulness, or completeness as of the date hereof of this information or these opinions. None of Cemig’s professionals nor any of their related parties or representatives shall have any liability for any losses that may result from the use of the content of the presentation. To evaluate the risks and uncertainties as they relate to Cemig, and to obtain additional information about factors that could lead to different results form those estimated by Cemig, please consult the section on Risk Factors included in our Formulário de Referência filed with the Brazilian Securities Commision – CVM, and in Forn 20-F filed with the U.S. Securities and Exchange Commission – SEC. Financial amounts are in RS million (RS mn) unless otherwise indicated, and reflect the adoption of IFRS

2Q11 results Net revenue 3,431 11% 3,820 2Q2010 2Q2011 Ebitda 20% 1,057 1,267 2Q2010 2Q2011 Net income 29% 407 523 2Q2010 2Q2011 Cemig continues to deliver excellent results to shareholders Continual improvement in efficiency Operational indicators rapidly approaching optimum performance levels Portfolio of business sustains Ebitda of R$ 1.3 billion Appropriate balance between business segments tends to make growth stable Strategy of client relationships achieves increasing share of the Free Market Quest for solutions for excess of capacity and to foster client loyalty

Expansion of Taesa strengthens Cemig’s position in the sector Strategy of growth via Taesa has now become reality Stake in Abengoa will expand Taesa to 5,173km of lines and RAP of R$ 1.1 billion increase of more R$ 200 million from pro-forma Ebitda of 2010 In partnership with Abengoa, Taesa strengthens its strategic position for new auctions Cemig will have 13% Brazilian transmission market share (by RAP) Transmission capacity, km 5,313 5,755 7,506 8,768 9,685 2007 2008 2009 2010 June -2011 *including Abengoa

Light: growing in power generation Light substantially increases its installed capacity with acquisition of stake in Renova 54.3% increase in Light’s generation capacity, to 1,319 MW, after 2014. 26.2% stake in total capital of Renova for R$ 360 million Acquisition in power generation improves profile of Light’s cash flow Greater predictability, and less dependence on the distribution sector Cemig and Light give Renova access to two of Brazil’s largest consumer markets Focus on Free Market and Special Clients

Sales strategy creates prominent position in the sector Excellence in relationship is a differentiation factor for preserving market share Free Market is increasingly competitive, also has new participants entering Pricing of contracts continues to be a challenge Cemig continues to lead the Free Market with 25% share Sales of energy from alternative sources continue to expand Sales of incentive-bearing electricity were up 12.3% in 2Q As using renewables, we are able to attend special clients (500kW–3MW)

Financial management Portfolio of businesses and financial discipline position Cemig on a path of sustainable growth and addition of value for shareholders: Solidity of results Balance between the 3 main businesses (G, D, T) increases predictability, reduces risks Strong operational cash flow for payment of dividends, acquisitions and debt service Quality of our balance sheet earns ample access to credit Low debt indices, high coverage rates Robust cash position: R$ 3 billion Debt profile appropriate to our businesses Partnerships with financial investors Structuring of FIPs frees cash for other investments, guarantees future growth

Debt profile Debt maturity timetable Average tenor: 3.5 years 1,846 3,584 2,749, 2,300 1,423 615 437 936 2011 2012 2013 2014 2015 2016 2017 2018-2034 Main Indexors 15% 3% 12% 6% 3% 1% 60% FINEL/RGR DOLAR CDI IPCA IGPM URTJ OUTROS OTHERS Average real cost of debt, % 5.8 5.4 5.3 5.7 6.5 6.8 6.8 7.1 7.3 Jun/09 Sep/09 Dec/09 Mar/10 Jun/10 Sep/10 Dec/10 Mar/11 Jun11 Consolidated debt, 2Q 2011 Total debt Debt in foreign currency Net debt Ebitda* / Interest Net debt / Ebitda* Net debt / (Stockholders’ equity Plus Net debt) 13,879 7,692 3,360 153 1% 3 - 91 3% 10,842 6,091 2,679 3.92 4.40 4.50 2.22 2.42 2.10 46.5% 54.7% 49.9% (1) Net debt – Total debt – (Cash and cash equivalents) (*) Last 12 months * At Constant June 2011 prices; including investees

Sustainability: a permanent Cemig corporate value Environmental programs The Premiar – Urban Trees program: Development of a system that brings together information about the electricity network associated with location and data on tree species. Total of 12,845 trees geo-referenced so far. Online training on Environmental Policy: Completed by 7,120 employees, outsourced workers and interns, through Univercemig. Recognition and awards 11th Year in the DJSI (Dow Jones Sustainability Index) – every year since its creation Inclusion on ISE Corporate Sustainability Index of BM&FBovespa for 6th year running Inclusion in IC02 Carbon Efficient Index of BM&FBovespa/BNDES. Based on companies with lowest greenhouse gas emissions.

Consolidated sales volume 16,79 100 450 138 4 222 -813 67 16,936 1% 2Q10 Residential Industrial Commercial Rural Wholesale Spot (CCEE) other 2Q11 Record sales volume in the quarter reflects expansion in all consumption categories 6.4% increase in energy sold to final consumer reflects strong economic expansion in the concession area, and leadership in Brazil’s Free Market

Cemig GT – Sales Volume Consumer types, YoY change, GWh - 2Q2011 9,089 441 129 120 122 9,901 9% 2Q2010 Free clients Wholesale - Free Market Regulated market Regulated market 2Q2011 Volume by market, GWh 1,121 1,243 3,443 3,692 4,525 4,966 2Q2010 2Q2011 Free clients Free/regulated wholesale CCEE Expansion of the economy and gain in market share boost Cemig GT’s sales Sales to Free Market are almost 70% of the total market More settlements in the CCEE reflect higher volume of secondary electricity in 2Q11 than 2Q10

Cemig D sales volume by consumer type Cemig D - Sales volume in 2Q11, GWh -6% 6,364 6,013 2Q2010 2Q2011 Sales by type, GWh TYPE 2Q2011 2Q2010 CHANGE Residential Industrial Commercial Rural Other Sub Total CCEE TOTAL 2,086 2,010 4% 1,187 1,160 2% 1,290 1,188 9% 608 605 1% 798 747 7% 5,969 5,710 5% 44 654 -93% 6,013 6,364-6% Percentages by consumer type, 2Q11–% 22% 10% 13% 35% 20% Residencial Residential Industrial Comercial Commercial Rural Others Outros Strong expansion of the economy in the concession area boosted demand from final consumers Continuing intense sales growth in the quarter Fall in total sales arises from reduction of overcontracting in the CCEE

Consolidated net revenue Consolidated net revenue - change, 2Q10 to 2Q11, R$ million 3,431 272 18 74 7 47 22 122 -173 11% 3,820 2Q2010 Final Consumer TUSU Wholesale / CCEE Use of network Gas Other Construction revenue Deductions 2Q2011 Balanced portfolio of businesses sustain growth of 11% in net revenue in second quarter Holdings in power transmission sector continue to increase grid use revenue contribution Expansion in demand for natural gas in Minas Gerais State results in R$ 47 million increase in net revenue of Gasmig

Consolidated operational expenses Expenses in 2Q11 - R$ million 2,597 2,781 2Q2010 2Q2011 Consolidated expenses, 2Q11 - R$ million 0 24 2 155 27 29 5 19 121 -2 -17 -1 -118 -60 Personnel Profit shares Materials Pension plan Provisions Royalties Bought energy Outsourced services Gas Depreciation Payroll Construction costs Other Reduction of costs generates results in line with the Operational Efficiency Program Reduction of personnel expenses from 2Q10 to 2Q211 reaches R$ million Greater control and management of PMSO expenses achieves real-terms reduction from 2Q10 Growth of expenses on energy bought for resale results from greater sales activity of Cemig GT and increase in load at Cemig D Increase in bought energy at Cemig D is a non-controllable cost – so it is passed through to the tariff 7%

Balanced portfolio sustains Ebitda Ebitda of principal companies EBDITA CEMIG GI CEMING D LIGHT GASMIG TBE TAESA Others CONSOLIDATED R$ million 2Q2011 576 399 62 25 62 73 71 1,268 % 45% 31% 5% 2% 5% 6% 6% 100% Net income by activity, 2Q11 35% 8% 2% 55% Geração Generation Distribuição Distribution Transmissão Transmission Outras Others

Strong cash position sustains investments Cash flow, R$ mn 2Q2011 2Q2010 Cash at start of period Cash from operations Net income Depreciation and amortization Suppliers Provisions for operational losses Other adjustments Financing activities Financings obtained and capital increase Payments of loans and financings Interest on Equity, and dividends Investment activity Securities – Cash investments PP&E/ Intangible assets CASH AT END OF PERIOD 2,733 1,297 523 229 -52 97 500 -209 706 -381 -534 -784 135 -919 3,037 4,487 358 407 224 11 33 -317 598 1,397 -336 -463 -1,688 9 -1,697 3,755

Investment program ACTIVITY ACTUAL, TO JUNE 2011 PLANNED, 2011 PLANNED, 2012 “P1” projects 312 1,516 1,149 Generation 15 146 103 Transmission 5 68 91 Cemig D 292 1.301 953 Cemig Holding company — 1 2 Light for Everyone Program 239 374 — CDE — -142 -58 Minas Gerais State — -189 -16 Acquisitions 251 405 7 SPE Parati S/A - Redentor-Luce 246 246 — SPE Parati S/A - Free Float- Braslight — 142 — TBE - Stock buyback 5 17 — TOTAL 802 2,295 1,156 “P1” projects - Amounts are estimated as from 2010, in accordance with corporate planning, at March 2011 prices. They include bask Investments to maintain the routines of the Distribution, Generation, Transmission and Holding companies. Transmissão e Holding.

Cemig is a global investment options TOTAL ASSETS 35.3 SHAREHOLDERS’ EQUITY 12.5 CONSOLIDATED NET REVENUE (LAST 12 MONTHS) 13.8 MARKET VALUATION (RS BILLION)* 18.8 NOW OPERATING ALMOST THROUGHOUT THE TERRITORY OF BRAZIL INVESTMENTS OUTSIDE BRAZIL *Market value = product of {Cemig’s total shares) and (closing price of the preferred shares on August 22, 2011).

Capital markets and Investor relations Stock performance Proposed of allocation of 2010 net income was approved on April 29th 53% of net income for 2010 will be distributed as dividends Dividends equivalent to R$ 1.75 per share. Dividend yield as of April 28th: Preferred: 6% Common: 7%

Investor Relations ri@cemig.com.br Phone Number: (55-31) 3506-5024 Fax: (55-31) 3506-5025

 Glossary ACR: Regulated Contracting Environment in which purchases and sales involving Distributors occur by means of public auctions. ACL: Free Contracting Environment, in which purchases and sales of electricity among Free Clients, Markets and Generators occur, through freely negotiated bilateral contracts. ANEEL: The Brazilian energy sector is regulated by ANEEL, an independent federal regulatory agency. BRGAAP: Brazilian accounting principles. CCC - Conta Consumo de Combustiveis Fósseis [Fossil Fuel Consumption Account]: The CCC was created to generate financial reserves to cover higher costs associated with greater use of thermoelectric plants in the event of drought, as a function of the fact that fact that marginal operating costs of thermoelectric plants are higher than those of hydroeletric plants. Every energy company must make an annual contribution to the CCC. The annual contributions are calculated based on cost estimates of the fuel required by thermoelectric plants in the following year. CDE - Cámara de Comercialização de Energia Eletrica [Eléctricity Marketing Council]: Its purpose is to make marketing electricity on the National Interconnected System viable. CCEE - Conta de Desenvolvimento Energético [Electricity Marketing Council]: Source of the subsidy created to make alternative sources of energy – such as wind-driven and biomass – competitive, and to promote universalization of electricity services. Its resources come from annual payments made by concessnaires for the use of public assets, penalties and fines imposed by ANEEL, and the CDE will remain operational for 25 years, and it will be administered by Eletrobrás. DEC - Ducação Equvivalente de Interrupsao por Unidade Consumidora [Equivalent Duration of Interruption per Consumer Unit]: During a period observed in each consumes unit of a group that is being considered, the average interval of time of an interruption in electricity distribution. Dividend Yield: The annual percentage of return that a shareholder receives in the form of dividers and interest on Own Capital (per share) in relation to the shareprice. FEC - Frequencia Equivalente de intermupcao de Eeergia [Equivalent Frequency of Electricity interruption]: Number of interruptions in electricity distribution that occur on average during an observed period, in each consume until o f a determined group. GSF: Generating Scaling Factor. The factor used to determine the Allocated Energy from each generator participating in the National Interconnected System. It is calculated as a function of availability of generation and the verified market, among other parameters. FIDC [Receivables Fund – Fund of credit rights. Its is formed of realizable assets. Hedge: Term that means safeguard. It is a mechanism used by people or companies who need to protect themselves against price fluctuations that usually occur in commodities or exchange markets. EBITDA: Earnings Before interest (Financial Results), Taxes, Depreciation and Amortization. It states the Generation Operating Cash of a company, and provides a snapshot of how much money a company is generating from its main business. EBITDA / NET OPERATING REVENUES (EBITDA MARGIN): Percentage that relates Generation of Operating Cash with Operating Revenues. It shows the percentage at which revenues become cash after operations, giving an idea of the business profitability.

 Glossary Payout – Percent of net income to be distributed as dividends. P/L (Price to Earnings Ration) – Relationship between share price and profit per share. PL – Shareholders’ Equity PLD – Price for Liquidation of Differences, called “Spot” price. RTD Deferred Tariff Adjustment: ANEEL defined the results of the periodic tariff adjustment of Cemig Distribution, which includes restatement of electricity supply tariffs at levels that are compatible with preserving the economic-financial balance of the concession contract, providing sufficient revenues to cover efficient operating costs and adequate remuneration on investments. The average adjustment that was applied on a provisory basis to Cemig’s tariffs on April 8, 2003 was 31.53%, while the definitive tariff Restatement for CEMIG should have been 44.41%. the 12.88% difference will be offset through an increase in each projected tariff adjustment to occur from 2004 to 2007, cumulatively. the difference between the tariff adjustment to which Ceming Distribution has right and the tariff effectively charged consumers was recognized as a Regulatory Asset. RTE – Extraordinary Tariff Restatement: Tariff adjustment granted in December 2001 to distributors and generators in regions that experienced rationing. Projected in the General Agreement of the Electricity Sector, it resulted in a 2.9% increase to tariffs for residential consumers (with the exception of Low Income Consumers) and rural consumers, and 7.9% for other consumers. The objective of the adjustment was to replace the losses that energy distributors and generators had from the reduced consumption imposed by the government. The duration of the adjustment varies according the time necessary to recover each concessionaire’s losses. RGR – Global Reversion Reserve: Annual number embedded in concessionaires’ costs to generate resources for expansion and improvement of public electricity services. The amounts are collected on a monthly basis in favor of Eletrobrás, which is responsible for administering resources, and they must also be used by procel. Total Shareholder Return – this is the shareholder return obtained by adding dividends (yield) and the percentage appreciation of the shares. TUSD – Distribution System Usage Tariffs: The TUSD is paid by generation companies and by free Clients for is of the distribution system of the distribution concessionaire to which the generator or free client is connected, and it is revised annually according to the inflation index and investments made by the distributors in the previous year to maintain and expand the network. The amount to be paid by the user connected to the distribution system is calculated the multiplying the amount of energy contracted with the distribution concessionaire for each connection point, in KW, by the tariff in RS/KW, which is established by ANEEL. UHE – Hydroelectric Plant: Plant that uses mechanical energy from water to turn the turbines and generate electricity. UTE - Thermoelectric Plant: Plant in which the chemical energy contained in fossil fuels is converted into electricity. Market value – This is the value of he company calculated by multiplying the number of shares by their respective price. WACC – Weighted Average Cost of Capital: average weighted cost of capital. DESENVOLVIDO FOR

Long-term target is 20% market share in the various segments of the electricity market Transmission Transmission under construction Cemig Free Client Purchase of electricity Gas distribution Distribution Generation Generation under construction Wind power generation Telecommunication See All