In 2012, AES Eletropaulo saw a 1% increase in energy consumption but a decrease in operational metrics like SAIDI and SAIFI. Financial results were lower in 2012 with a 77% drop in EBITDA and 93% decrease in net income due to tariff reductions, higher energy costs, and one-time gains in 2011. The company invested R$831 million in 2012 focusing on maintenance, expansion and customer service. For 2013, AES Eletropaulo is focusing on efficiency initiatives to reduce costs and debt.

1. 4Q12 Results
February, 2013

2. 2012 Highlights
Operational
 Investments of R$ 831 million in 2012, a 12% increase in comparison with 2011
 D
Decrease of 19% i SAIDI and 15% i SAIFI
f
in
d
in
 1.0% increase in energy consumption
Financial
$ ,
,
 Gross revenues totaled R$ 15,314 million, a 0.5% increase
 Ebitda of R$ 656 million in 2012, a reduction of 77%
 Net income of R$ 108 million, a 93% decrease
Regulatory
 O J
On January 24th, 2013 it was applied th i d of th extraordinary t iff review b
2013,
li d the index f the t
di
tariff
i
based on th E
d
the Energy C t
Costs
Reduction Program, regulated through the Provisional Measure 579, converted into Law No. 12,783 in January
14th, 2013. The average tariff reduction is estimated in 20%, effective from January 24th, 2013
Dividends
.
 The Management proposes proceeds distribution in the amount of R$ 55 million, representing 25% of 2012
distributable income plus interest on equity, composed of R$ 0.31 per common share and R$ 0.34 per preferred
share
Eletrobrás Case
 In February 21th, 2013, State Court published decision in favor of AES Eletropaulo, revoking the decision of 1stt
instance of December 12, 2012
2

3. 2012 Highlights
 Safety: 19% drop in accidents with employees and contractors, being recorded one fatality with contractors and
Social
19% decrease in fatal accidents with the population
I
Innovation and Excellence for Customer Satisfaction: customer satisfaction index reached 80.6% i th
ti
dE
ll
f C t
S ti f ti
t
ti f ti i d
h d 80 6% in the
Abradee research, the highest since the survey was started
 Development and Enhancement of Communities: investment of R$ 122 million in social projects, energy
efficiency and legal access to electric power, benefiting about 1.7 million people
Environment
 Efficient Use of Energy Resources: R$ 44 million invested in 520 units - such as hospitals, schools and public
buildings, generating efficiency and having their electricity consumption reduced by 38,846 MW
Awards
 National Quality Award - PNQ 2012, of Fundação Nacional da Qualidade – FNQ
 ISE- Corporate Sustainability Index of BM&FBovespa - 2012/2013 - portfolio for the 8th consecutive year
 Brazil's most admired company, for the fourth consecutive year, in the category "Electricity Supply" award
.
sponsored by the magazine Carta Capital
 Child Award, Fundação Abrinq/ Save the Children, for attending to children up to 6 years in the Centro de
Educação Infantil Luz e Lápis
 Guia Exame de Sustentabilidade: AES Brasil group was recognized by Exame magazine as one out of
recognized,
magazine,
twenty model companies in sustainability
.
3

4. Growth in consumption due to better performance
at residential and commercial
Consumption evolution (GWh)¹
+3.8%
-3.2%
16,408 17,029
+1.7%
+4.4%
+2.0%
11,614 11,815
-3.6%
36,817 37,570
+1.0%
45,101 45,557
8,284 7,987
5,996 5,803
2,799 2,922
Residential
Industrial
Commercial
Public Sector
and Others
2011
1 – Own consumption not considered
Captive Market
Free Clientes
Total Market
2012
4

5. SAIDI below regulatory limits and in
its lowest level since 2006
SAIDI¹ (last 12 months)
SAIDI1 (LTM)
-17%
10.09
11.86
2009
9.32
8.68
10.60
10.36
2010
2011
SAIDI Aneel Reference
►
8.67
8.49
9.87
8.35
2012
jan/13
8.23
jan/12
jan/13
8.23
SAIDI (hours)
SAIDI (hours)
ANEEL Reference for 2012 SAIDI: 8.49 hours
1 - System Average Interruption Duration Index
Source: ANEEL and AES Eletropaulo
5

6. SAIFI remains below regulatory limits
SAIFI¹ (last 12 months)
7.87
7 87
7.39
SAIFI1 (LTM)
6.93
6.87
6.64
-15%
6.17
2009
5.46
5.45
2010
2011
SAIFI Aneel Reference
►
4.65
4.55
2012
jan/13
SAIFI (times)
5.37
jan/12
4.55
jan/13
SAIFI (times)
ANEEL Reference for 2012 SAIDI: 6.64 times
1 - System Average Interruption Duration Index
Source: ANEEL and AES Eletropaulo
6

7. Losses level below the regulatory reference
for the 3rd Cycle of Tariff Reset
Losses (last 12 months)
11.8
11 8
10.9
Regulatory Reference² - Total Losses (last 12 months)
10.5
10.2
5.3
4.4
4.0
6.5
6.5
2010
2011
2012
9.8
9.4
2013/2014
2014/2015
6.1
2009
10.3
4.1
6.5
10.6
Technical Losses ¹
2011/2012
2012/2013
Non Technical Losses
1 – In January 2012, the Company improved the assessment of the technical losses. As a consequence of this improvement, technical losses calculated are in a level of 6.1%.
2 – Values estimated by the Company to make them comparable with the reference for non-technical losses determined by the Aneel
7

8. Investments focused on system expansion,
maintenance and quality of client services
Investments (R$ million)
Investments (R$ million)
4Q12
800
739
R$ 252 million
831
35
R$ 831 million
216
63
647
22
2012
700
7
11
9
26
600
59
500
400
717
28
36
35
196
796
621
300
+21%
32
252
9
200
200
209
6
100
203
244
4Q11
4Q12
108
72
213
0
2011
2012
Own Resources
2013(e)
Paid by the clients
1
Maintenance
Client Service
System Expansion
Losses Recovery
IT
Paid by the Clients
1 – Maintenance capex is the investment s made for the grid modernizationand improvement in quality of service
Others
8

9. Gross revenues reflects expansion in residential
and commercial and new tariff
Gross Revenues (R$ million)
+0.5%
15.240
15.314
5.405
5.354
3.838
3.885
23
72
1.373
13 3
1.308
1 308
23
72
2.453
2.556
9.813
2011
9.887
+1.2%
4T11
4T12
2012
Net revenue ex‐construction revenue
Construction revenues
Deduction to Gross Revenue
9

10. Operating Costs and Expenses ¹ (R$ million)
Higher average cost of energy purchased
due to energy from auctions, exchange variation
and adjustment of bilateral contract
+21%
8,390
6,940
1,531
1,251
1 251
+27%
5,689
2011
6,858
1,827
358
1,469
2,321
398
1,923
2012
4Q11
4Q12
Energy Supply and Transmission Charges
1 - Depreciation and other operating income and expenses are not included
PMS² and Other Expenses
2 - Personnel, Material and Services
10

11. Manageable PMSO items below the inflation
PMS and other expenses (R$ million)
+4.9%
4 9%
38
106
1,251
1,251
2011
Non recurring
2011¹
49
(25)
1,507
1,555
1,531
1,531
ADA
Costs of
reorganization
and restructuring
Non recurring
2012³
2012
reported
54
28
30
1,357
1,357
1,423
1,423
1,423
2011: ex non
recurring
Collective
bargaining
Others²
2012: ex non
recorring
FCESP
1 - Non Recurring 2011: Reversal of tax and labor contingencies and changes in accounting criteria of ADA
2 - Other: Expenses of Action Plan 2011-2012, fleet maintenance, call center, offset by lower advertising expenses and consulting, among others.
3 - Non Recurring 2012: Reversal of civil and labor provisions in 2Q12 and IT expenses
11

12. Ebitda reduction reflects tariff review, higher costs with
p
parcel A and extraordinary g
y gains (
(AES Atimus SP in
2011)
Ebitda (R$ million)
(782)
(707)
(263)
2,848
(232)
(159)
2,066
(49)
1,358
1 358
1,126
967
656
2011
Parcel A
Non recurring
2011 and 2012
Market,
Market review
and adjustment
in Parcel B
PMSO¹
Others
revenues and
expenses
1 – PMSO variation, excluding costs with reorganization and restructuring and non-recurring costs related to the 3Q11 and 3Q12
Costs with
reorganization
and
restructuring
2012
12

13. Lower interest and fair value of assets related to
concession impacted the financial results
p
Financial Result (R$ million)
2011
2012
(21)
4Q11
(22)
143%
4Q12
(2)
- 93%
(52)
13

14. Net income variation reflects tariff review, Parcel A
and sale of AES Atimus SP in 2011
Net Income (R$ million)
1.572
354
11
- 93%
108
Dividends 2012 (R$ milhões)
687
Net income - December 31, 2012
172
1.207
1 207
- 111%
699
647
18
137
(121)
(132)
(228)
(
)
Realization of equity valuation adjustments
Ajustment for dividend and Interest on equity prescribed
Legal Reserve (5%)
Distribution basis
Dividends distributed
Interest on equity distributed - 12/31/2012
Proposed complementary dividends
(73)
(470)
2011
2012
4Q11
Net Income ‐ Adjusted
Regulatory assets and liabilities variation
Regulatory assets and liabilities variation
Tariff review postponement effect
Estatutory reserve
107.9
89.9
89 9
5.1
(9.9)
193.1
54.3
0.5
138.2
4Q12
Expected date: Ex-dividends: 04/05/13; payment: until the end of 2013
14

15. Lower cash generation due to tariff review and
higher expenses with Parcel A
Operational Cash Generation (R$ million)
Final Cash Balance (R$ million)
- 48%
- 41%
2,416
1,218
1,390
814
2011
2012
2011
2012
15

16. Net debt impacted by lower
cash balance
Net Debt (R$ billion)
Avarage Cost
6.2x
4.9x
6.9
6.6
1.4x
0.9x
2.3
3.1
2011
2012
118.0%
110.2%
110 2%
2011
Net Debt (R$ billion)
12.1%
2012
Effective rate
11.3%
Gross Debt/Ebitda Adjusted with Fcesp
Net Debt/Ebitda Adjusted with Fcesp
Average Time - years
% of CDI
1 –Adjusted EBITDA with the expenses related CESP Foundation and regulatory assets and liabilities.
16

17. Focus on efficiency
Main initiatives
 Change of corporate headquarters
g
Operational
 Optimization of operational bases
 Stores review by increasing of outsourcing
 Organizational restructuring
 30% growth in the productivity of operations teams of the regional north (being implemented for
other regional)
 Increase in the number of clients served by automatic channels
 Renegotiation of supplies contracts
f
 Sale of real estate with an estimated value of $ 239 million, of which R$ 160 million was already
Financial
Fi
i l
sold
 Covenants renegotiation and lengthening debt profile
 Reducing manageable costs estimated at R$ 100 million from 2013
17

18. 4Q12 Results
The statements contained in this document with regard to the
business prospects, projected operating and fi
b i
t
j t d
ti
d financial results,
i l
lt
and growth potential are merely forecasts based on the
expectations of the Company’s Management in relation to its
future performance.
Such estimates are highly dependent on market behavior and
on the conditions affecting Brazil’s macroeconomic
performance as well as the electric sector and international
market, and they are therefore subject to changes.