Companhia Energética de Minas Gerais - CEMIG (CMIG4) investor relations material

Strategic positioning and business overview

• Operates Brazil's largest integrated electric utility platform, serving over 9.6 million customers across 25 states and the Federal District, with a balanced portfolio in distribution, generation, trading, and transmission.

• Maintains a verticalized structure with strong cash flow, low leverage, and a local AAA credit rating from Fitch and Moody's.

• Integrated portfolio enables synergy capture and risk reduction, with significant stakes in Taesa and Gasmig.

• Focuses on Minas Gerais, Brazil's second most populous state, with the largest electricity distribution network in South America.

Financial performance and capital structure

• EBITDA and net profit have shown consistent growth, with EBITDA margin reaching 23.1% and net margin at 15.0% in 2025.

• Net debt stands at R$16.8 billion with an average maturity of 6.6 years; leverage ratios remain historically low.

• Dividend yield reached 14.9% in 2025, supported by strong recurring cash flows and a policy of distributing at least 50% of net income.

• Stock delivered a total return of 17.5% in 2025, outperforming the market.

Investment and growth strategy

• Planned investments exceed R$44 billion from 2026 to 2030, with a focus on modernization, distribution, generation, transmission, and gas infrastructure, primarily in Minas Gerais.

• Achieved record investments, totaling R$25.7 billion from 2019 to 2025, with a 22.1% YoY increase in 1Q26.

• Distribution segment to receive R$29 billion in investments by 2030, targeting network modernization and operational excellence.

• Generation and transmission segments plan R$5 billion and R$3.5 billion investments respectively for 2026–2030.